MagIndustries Reports Progress Toward Closing Investment by Sinohydro

MagIndustries Corp. ("MagIndustries" or the "Company") (TSX VENTURE:MAA) is
pleased to announce that the counterparty to the Memorandum of Understanding
(the "MOU") signed and disclosed on June 12, 2009 is Sinohydro Corporation
Limited ("Sinohydro" or the "Subscriber").


The MOU provides for a proposed purchase of 400 million common shares of
MagIndustries by the Subscriber at a price of CDN$ 0.70 per common share (the
"Investment"). Senior officers of MagIndustries and Sinohydro met this week in
Beijing and have agreed to work toward the signing of all documentation in
respect of the Investment by October 30, 2009. Closing of the Investment will
then take place thereafter following receipt of all required approvals,
including regulatory approval and approval of the Company's shareholders.


Bill Burton, MagIndustries' CEO said, "We are very pleased that such an
internationally sophisticated and capable company as Sinohydro is interested in
MagIndustries. We see their interest as a confirmation of the globally
competitive quality of our potash resource and an endorsement of the host
jurisdiction of our potash development, the Republic of Congo ("ROC"). Beyond
potash, Sinohydro will be a uniquely synergistic partner for us as we pursue
development opportunities in our MagEnergy division. Looking beyond our Phase 1
turbine rehabilitation project of the INGA II hydroelectric facility in the
Democratic Republic of Congo, which we expect to complete in the coming months,
we see significant further power development opportunities in Central and
Sub-Saharan Africa which would become highly addressable with Sinohydro as a
major shareholder."


Mr. Du Nan, Deputy Managing Director of Sinohydro, added, "Sinohydro sees a very
clear alignment of its interests with MagIndustries and at a successful
conclusion of our decision process would look forward to supporting the
fulfillment of MagIndustries' potential."


Normal business processes in the People's Republic of China ("PRC") will be
suspended for a 10 day period, beginning on October 1st, National Day, as China
celebrates the 60th anniversary of the founding of the PRC. This delay plus the
time required to complete the negotiation of various conditions precedent to the
Investment, most notably Sinohydro supported debt arrangements as part of the
financial plan for the construction of the Company's Kouilou Potash Project in
the ROC, the timing of Sinohydro internal approval processes and PRC Government
approval processes for a foreign investment are all factors in MagIndustries'
decision to extend the exclusivity provided to Sinohydro under the MOU to
October 30, 2009.


Mr. Burton stated further, "While we acknowledge the frustration of our
shareholders that we have not been able to announce a completion of the
Investment on the previously announced timeline, we are impressed and encouraged
by the commitment and energy demonstrated by all parties as we work through the
complex Sinohydro and PRC investment decision processes."


Sinohydro is one of the world's leading companies in the water conservation and
hydropower industries. Its strength is comprised of a group of 10 holdings
companies, and a network of seventeen wholly-owned subsidiaries. Sinohydro also
has an international network of 42 overseas branch companies and representative
offices.


Sinohydro, one of the world's largest builders and operators of power generation
facilities, has developed into a large diversified group based on its leadership
in excavation, earthmoving, underground structures, dredging and reclamation
projects which promote the "SINOHYDRO" brand in the global construction market.
With operations worldwide, it holds a leading position in building, civil
infrastructure, mechanical and electrical plant manufacturing and installation.
Today, the Group ranks 50th in the Top 225 International Contractors listing by
the Engineering News Record and stands in 4th place among Chinese contractors in
term of overseas revenues. Sinohydro's diversified company interests extend to
mineral resources, including potash, managed by its Sinohydro Mineral Resource
Group. Sinohydro reported US$9 billion in revenue in 2008.


About MagIndustries Corp.

MagIndustries is a Canadian company whose common shares are listed on the
TSX-Venture Exchange and trades in Canadian currency under the symbol "MAA". The
Company has 359,852,462 shares outstanding on an undiluted basis. MagIndustries'
resource subsidiaries are operating and developing major industrial projects in
the Republic of Congo and the Democratic Republic of Congo. More information on
the Company is available at its website, www.magindustries.com.


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.


"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


Cusip: 55917T 102