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Gold/Mining/Energy : Magnesium Alloy Corp. (MGAC.U - Cdn unlisted) -- Ignore unavailable to you. Want to Upgrade?

To: GlobalMarine who wrote (67)	11/1/1998 2:45:00 PM
From: Tom McIlwain	Respond to of 103

Thanks Rand. The rebound in this stock over the last two days indicated there is still some life left in this play. I will continue to hold, although I do not intend to add to my position unless the stock shows more positive signs. Tom

To: GlobalMarine who wrote (67)	11/4/1998 10:22:00 AM
From: Ron Everest	Read Replies (1) \| Respond to of 103

News Trading Symbol: MGAC.U Exchange: Canadian Dealing Network Cusip: 558914 10 7 PRESS RELEASE TORONTO: November 4, 1998 FOR IMMEDIATE RELEASE MAGNESIUM ALLOY CORPORATION - SNC- LAVALIN TO COMPLETE TWO STAGE FEASIBILITY STUDY ON THE KOUILOU HYDRO SITE Magnesium Alloy Corporation (‘MAC' or the “Company') (MGAC.U – CDN) moved another step closer to becoming an important low-cost magnesium producer following the signing of a Letter of Intent (‘LOI') with SNC-Lavalin in Montreal. The LOI provides for the completion of a two-stage feasibility study for the Kouilou hydroelectric site conditional upon certain financing arrangements by SNC-Lavalin. Upon completion of the study SNC-Lavalin may assist MAC in the financing and/or construction of the Kouilou hydroelectric site in Congo. SNC-Lavalin with its engineering expertise in hydroelectric facilities as well as its extensive construction experience in Africa, makes an important addition to MAC's technical team. Salzgitter Anlagenbau GmbH of Germany is currently undertaking an independent pre-feasibility study for the construction of a magnesium extraction plant near Pointe-Noire, Republic of Congo. MAC has an option to develop the Kouilou hydroelectric site as a potential low-cost energy source for this extraction plant. The Kouilou River site lies 50 kilometres north of Pointe-Noire. It is anticipated that the pre-feasibility report by Salzgitter and the first stage feasibility study by SNC-Lavalin will both be completed by the end of March 1999. MAC also wishes to announce the appointment of D&B Capital and Cal Merchant Bank (the ‘Advisors') as financial advisors to the Company. Principals to the Advisors have developed a considerable expertise in the structuring and financing of large natural resource based projects in emerging market countries, specifically Africa. Magnesium for its strength, lightweight and superior high-pressure die-casting properties is replacing aluminum in alloys. The automotive industry worldwide, in its search for better materials to help it meet stringent emission standards, is investing billions and driving the demand for magnesium. Magnesium Alloy Corporation is developing one of the world's largest magnesium salt deposits to feed the demand. With the advantage of easy extraction, volume, and low-cost energy sources in the Republic of Congo, Magnesium Alloy Corporation's Kouilou project could become a competitive magnesium producer. Magnesium Alloy Corporation is a Canadian company quoted on the Canadian Dealing Network (CDN) in Toronto and is traded in U.S. currency under the symbol “MGAC.U. MAC has 13,731,095 shares outstanding on an undiluted basis. For further information, please call Investor Relations at 416-360-4646 or toll free at 1-877-647-3117 Web site www.magnesiumalloy.ca