This is a Phase 5 Weapon Systems Magazine Release known as the Oversized Magazine Release, model OMR-GREY.
The Phase 5 OMR (Oversized Magazine Release) is a drop-in two-piece assembly that replaces the Mil-Spec magazine release button. Installation is easy and requires no gunsmithing. Both the OMR button and paddle are machined from 6061-T6 billet aluminum for a lightweight" strong design.
Features:
Fits AR 5.56/.223 and 7.62/.308 Receivers
6061-T6 Billet Aluminum
Larger Contact Surface