Take-Over Bid Circular and Directors' Circular Mailing Commenced in Respect of $0.25 Per Share Offer for MagIndustries Corp.

MagIndustries Corp. (TSX:MAA) ("MagIndustries" or the "Company") and Evergreen
Resources Holding (BVI) Ltd. (the "Offeror"), an indirect subsidiary of
Evergreen Industries Group ("EIG"), are pleased to announce that mailing to the
Company's registered shareholders has commenced in connection with the Offeror's
formal bid circular in respect of the offer to acquire the outstanding common
shares of MagIndustries at a price of $0.25 in cash per share. MagIndustries has
also commenced mailing of its directors' circular recommending that the
Company's shareholders accept the offer and tender their shares to the offer.


On April 20, 2011, the Company announced the Offeror's intention to make a
supported take-over bid for MagIndustries, valuing the total common share
capital of MagIndustries at approximately $115 million. The offer represents a
premium of approximately 64% to MagIndustries's 20-day volume weighted average
trading price of $0.15 on the Toronto Stock Exchange for period ending
immediately prior to the announcement of the proposed offer.


The offer is open for acceptance until 8:00 p.m. (Toronto time) on July 18,
2011, unless extended or withdrawn.


Full particulars of the offer are set out in the offer and circular filed by the
Offeror and the directors' circular filed by MagIndustries. These documents will
also be available on the Canadian Securities Administrators website at
www.sedar.com. 


About MagIndustries Corp.

MagIndustries is a Canadian company whose common shares are listed on the TSX
and trades in Canadian currency under the symbol "MAA". The Company has
456,772,463 shares outstanding on an undiluted basis. MagIndustries is focused
on the development of its potash assets in the Republic of Congo. More
information on the Company is available on its website, www.magindustries.com.


About Evergreen Industries Group

Evergreen Industries Group is an industrial holding group based in Shanghai,
China with a focus on the fields of shipbuilding, marine engineering, mining and
logistics.


Except for historical information, this press release contains forward-looking
statements, which reflect the Company's current expectation regarding future
events. These forward-looking statements involve risks and uncertainties, which
may cause actual results to differ materially from those statements. Those risks
and uncertainties include, but are not limited to, changing market conditions,
and other risks detailed from time-to-time in the Company's ongoing filings. We
undertake no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
In light of these risks, uncertainties and assumptions, the forward-looking
events in this press release might not occur.


Cusip: 55917T 102

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