Tickers: PINX:MLYFF, XTSX:NVM
VANCOUVER, BRITISH COLUMBIA / TheNewswire / February 27, 2017 - Nevada Clean Magnesium, Inc. (TSXV:NVM; Frankfurt-M1V; OTC Pink Sheets: MLYFF) (the "Company" or "NCM") is pleased to announce that it has appointed Aaron Palumbo, Scott Rowe, and Boris Chubukov of Big Blue Technologies LLC, to its board of directors.
Aaron Palumbo, Ph.D. is appointed to the position of Executive Vice President of NCM and holds a Ph.D. in Chemical and Biological Engineering. He is the current President and CEO of Big Blue Technologies LLC, a company formed to develop and commercialize a continuous process method for primary production of magnesium metal via carbothermal reduction. Dr. Palumbo is an author and contributor of many peer-reviewed mansuscripts, conference proceedings, and patent applications. He formerly managed a three-year, $4 Million research project as a Research Associate at the University of Colorado at Boulder. During this time, he refined his business acumen, technical skill-set, and grant-writing ability as a precursor to forming Big Blue Technologies LLC.
Mr. Rowe is appointed as Director of Reseach and Development for the Company and holds Masters degrees in both Chemical Engineering and Plant & Microbial Biology. Accredited with several publications and experience in multiple disciplines such as process design, feedback and model predictive control, distillation intensification, and measurement and instrumentation are assets toward business endeavours. His experience includes the commissioning of a new $1 Million renewable energy test bed at the University of Colorado Boulder, factory acceptance of a $400,000 "solar simulator" for testing renewable industrial concepts, and the management of multiple personnel. His background in control and analysis of complex biological and industrial systems provides him with perspective and understanding of the interactions and emergent properties that pose engineering challenges. Mr. Rowe has built the mathematical analogs needed to understand, program, and control these systems, relevant skills in the ideation and implementation of pilot facilities for magnesium production.
Mr. Chubukov is appointed as Director of Reseach and Development for the Company and holds a Masters in Chemical Engineering and B.S. degrees in both Chemical and Biological Engineering and Molecular Biology Engineering. His work is focused on chemical reaction engineering, modeling chemical reactions, and high temperature reactor design. Mr. Chubukov has recently focused on the carbothermal reduction of magnesium oxide leading to a first-author peer-reviewed manuscript and several conference proceedings at the annual conferences of the American Institute of Chemical Engineering (AIChE), The Minerals Metals & Materials Society (TMS), and the Society for Mining, Metallurgy, and Exploration (SME).
James Sever, the Company's COO states, "My respect and admiration for the skills and capabilities of these young men has increased over the time I have known them. Their presence increases the depth of both the managerial and technical skills available to Nevada Clean Magnesium. In addition, the carbothermic reduction technology they are developing is the most promising approach being persued to develop high volume low cost magnesium production."
Aaron Palumbo, President and CEO of BBT says, "We are honoured to become a part of the board at Nevada Clean Magnesium. This represents a major consolidation of expertise in magnesium production, and particularly thermal-based methods. We are aligning our interests to showcase an exceptional team who, together, has the dexterity, competence, and passion required to execute on a project of this magnitude. "
About Big Blue Technologies LLC
BBT is a closely-held limited liability company formed under the laws of Colorado, U.S.A. It is engaged in developing high temperature chemical processing solutions to aid in the manufacture of magnesium and other light-weight high performance materials. Together with the University of Colorado, BBT has developed, and the University of Colorado has applied for two patents related to the production of magnesium, primarily using the chemistry known as carbothermic reduction. BBT has the right to receive a license to use of these patents, and derivative patents, on an exclusive basis as it continues to develop this technology.
For more information, please visit www.bigbluetec.com
About Nevada Clean Magnesium, Inc.
Nevada Clean Magnesium is focused on becoming a major U.S. producer and distributor of primary, high grade, low cost magnesium metal extracted from its 100% owned Tami-Mosi property located in North Central Nevada. Based on the Company's NI 43-101 Preliminary Economic Assessment Report published in September 2011 and amended in July 2014, the Tami-Mosi Project has an inferred resource of 412 million tonnes with an average grade of 12.3% Mg for a contained metal content of 111 billion pounds of magnesium using a 12% cut-off grade contained within a high purity dolomite block.
For more information, please visit www.nevadacmi.com.
This press release was prepared under the supervision and review of James Sever, P. Eng., president and COO for Nevada Clean Magnesium. Mr. Sever is a non-independent qualified person within the meaning of National Instrument 43-101 standards.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate" and other similar words, or statements that certain events or conditions "try" "would" "could" "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. More detailed information about potential factors that could affect projected results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.
To Reach Nevada Clean Magnesium
Please Contact: Edward Lee, at 604-210-9862
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