MGX Minerals Inc. Requests Management Cease Trade Order to Allow for Finalization of Pending Annual Financial Statements and MD&A

The Company is requesting the MCTO in order to secure additional time to consolidate financial information from its operations as the Company changed its Chief Financial Officer and Accountant. The Company announced the appointment of Sandey Wang, CPA as interim Chief Financial Officer.

The Company also advises that its auditor SHIM & Associates LLP (the "Auditor") remains the same.

Additionally, the Company notes that:

1. 1. The Company is requiredtofileits July31, 2021 auditedannualfinancialstatements, management's discussion and analysis andthe applicable CEO andCFO certifications inrespect of suchfilings (collectively the AnnualFilings")all in accordance with IFRS by November 29, 2021 (the Filing Deadline"), asrequired pursuant to NI 51-102. The Company does not anticipate that it will beabletocompleteits AnnualFilingsonor beforetheFilingDeadline.

1. 2. The Company and its Auditor are working diligently to prepare and file the Annual Filings on or before December 29, 2021.

1. 3. The Company confirms thatitintendstoissuestatusreportonbi-weeklybasis, for as long as it remains in default of the Filing Deadline in respect of theAnnualFilings.

1. 4. There is no other material information concerning the affairs of the Company that

The Company has imposed an insider trading blackout pending the filing of the Annual Filings, and will comply with the alternative information guidelines described in National Policy 12-203 Management Cease Trade Orders during such period.

About MGX Minerals Inc.

MGX Minerals is a Canadian resource and technology company. Contact Information:

Interim Chief Financial Officer

sandey@mgxminerals.com

Web: www.mgxminerals.com

Reader Advisory

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