nsrcf_ex991
NextSource
Materials Inc. Granted Mining Permit for Molo Graphite Project in
Madagascar
HIGHLIGHTS:
●
The
Madagascar Government has granted a 40-year Mining License for the
Molo Graphite Project
●
Detailed
Engineering and Front End Engineering and Design are
complete
TORONTO, Feb. 15,
2019 -- NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRCF)
(“NextSource” or “the Company”), is pleased
to announce that the Madagascar Government has granted a 40-year
mining license for the Molo Graphite Project. The mining license
does not limit mining to any specific volume, so the Company will
be able to produce as much SuperFlake® graphite concentrate as
market demand requires.
Craig
Scherba, P.Geo., President and CEO of NextSource
commented,
“With the receipt of the mining permit, the
Company can now implement the final steps in our mine development
schedule towards achieving production in early 2020. Madagascar has
always been renowned globally for the quality of its graphite, and
our Molo project will vault Madagascar to one of the largest
producing regions of high-quality flake graphite in the
world.”
ABOUT
NEXTSOURCE MATERIALS INC.
NextSource
Materials Inc. is a mine development company based in Toronto,
Canada, that is developing its 100%-owned Molo Graphite Project in
southern Madagascar. The Molo Graphite Project is a
feasibility-stage and permitted project and ranks as one of the
largest-known and highest quality flake graphite deposits in the
world, and the only project with SuperFlake®
graphite.
For
further information contact: +1.416.364.4911
Brent
Nykoliation, Senior Vice President, Corporate Development at
brent@nextsourcematerials.com or Craig Scherba, President and CEO
at craig@ nextsourcematerials.com
Safe Harbour: This press release contains statements that may
constitute “forward-looking statements” or
“forward looking information” within the meaning of
applicable Canadian securities legislation. Readers are cautioned
not to place undue reliance on such forward-looking information.
Forward-looking information in this press release includes, but are
not limited to, the receipt of the Global Environmental and Mining
permits and all other approvals and the timing thereof, the
financing and construction of the Molo Graphite Project, and the
operation of the Molo Graphite Project including adherence to
certain environmental standards. . These are based on current
expectations, estimates and assumptions, and although the Company
believes the expectations expressed in such forward-looking
information are based on reasonable assumptions, actual results or
developments may vary and, in some instances, differ materially
from those anticipated by the Company and described in the
forward-looking information contained in this press release. There
are risks that the aforementioned permits will not be issued or
timing may be delayed. No assurance can be given that any of the
events anticipated by the forward-looking information will
transpire or occur or, if any of them do so, what benefits the
Company will derive there from. Other risks relating to the
permits, the Molo Project and the Company can be found in the
Company’s Annual Information Form for the year ended June 30,
2018 available at www.SEDAR.com.
The forward-looking information contained in this news release are
made as at the date of this news release and the Company does not
undertake any obligation to update publicly or to revise any of the
forward-looking information, whether as a result of new
information, future events or otherwise, except as may be required
by applicable securities laws.