MagOne welcomes Messrs. Dr. James Blencoe, PhD and Nelson Skalbania, B.Sc, M.Ap. Sc, P. Eng.

to its board of directors. Dr. Blencoe will also serve as the Company's Chief Operating Officer. Dr. Blencoe is the developer of the proprietary technology relating to the production of magnesium metal and compounds that the Company acquired.

Dr. Blencoe obtained a Ph.D. in geology from Stanford University (U.S., California) in 1974. He spent most of his career working as a geochemist in Pennsylvania State University (U.S). Ms. Sandy Janda has stepped down as Chief Financial Officer of the Company.

Sonny Janda, currently a director of the Company, will assume the position of Chief Financial Officer in place of Ms. Janda on an interim basis.