MGX Minerals Enters Into Agreement to Acquire Koot Silica Prospect From American Manganese
Added March 5th, 2015 – Vancouver, British Columbia
Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (“American Manganese” or the “Company”), (TSX.V: AMY; Pink Sheets: AMYZF; Frankfurt: 2AM), is pleased to announce that American Manganese Inc. has entered into an acquisition agreement with MGX Minerals Inc. (MGX) for MGX to acquire the Company’s 100-per-cent interest in 166 contiguous hectares covering a known high-purity silica prospect (the “Koot Claims”). In connection with the acquisition, MGX will issue 100,000 shares to AMY as well as grant the Company and Andris Kikauka (a director of the Company) each a 0.5% net smelter return royalty on any future production.
Mr. Reaugh say that: “The Koot Claims are no longer a core asset, as the Company focuses its attention on advancing emerging opportunities in the electrolytic manganese products sector (electrolytic manganese metal, and electrolytic and chemical manganese dioxide).”
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