Magna Mining Reports 17.9% Cu, 0.6% Ni and 28.1 g/t Pt + Pd + Au over 1.8 Metres in the 700 Footwall Copper Zone at McCreedy West Mine

Sudbury, Ontario–(Newsfile Corp. – August 6, 2025) – Magna Mining Inc. (TSXV: NICU) (OTCQX: MGMNF) (FSE: 8YD) (“Magna” or the “Company”) is pleased to announce additional drill results from the McCreedy West mine. The results include high grade copper, nickel and precious metal intersections from an area located in the footwall, up-dip within the main 700 Cu-PGE Footwall Zone (“700 Zone”) and within 150 metres of surface. The reported holes (Table 1) were drilled in support of production planning and potential production expansion into areas where narrow vein mining methods could be applied. Mineralization in this area contains high PGE grades hosted in copper and nickel rich veins. Intersections include 17.9% Cu, 0.6% Ni, 28.1 g/t Pt + Pd + Au over 1.8 metres in drillhole MMW-25-119 and 10.5% Cu, 8.3% Ni, 42.6 g/t Pt + Pd + Au over 0.3 metres in drillhole MMW-25-133 (Table 1).

Highlights from the new assay results include:

• MMW-25-118: 4.9% Cu, 1.0% Ni, 2.9 g/t Pt + Pd + Au over 1.5 metres

And 10.4% Cu, 0.5% Ni, 16.1 g/t Pt + Pd + Au over 0.9 metres

• MMW-25-119: 1.5% Cu, 0.4% Ni, 1.3 g/t Pt + Pd + Au over 7.3 metres

And 1.7% Cu, 0.7% Ni, 4.0 g/t Pt + Pd + Au over 10.5 metres

And 17.9% Cu, 0.6% Ni, 28.1g/t Pt + Pd + Au over 1.8 metres

• MMW-25-133: 10.5% Cu, 8.3% Ni, 42.6 g/t Pt + Pd + Au over 0.3 metres

Mynyr Hoxha, VP Mines Geology, stated: “The diamond drilling at the McCreedy West mine continues to yield excellent copper and precious metal grades, and is focused on defining near-term production as well as expanding the 700 Zone up-dip and to the east and west. The data we are gathering from this drilling will be instrumental in guiding our development ore headings, optimizing mining stope designs and maximizing ore grade. These narrow, massive sulphide veins, containing platinum, palladium and gold, found along the footwall of the 700 Zone can be incorporated into our mine plan and provide an opportunity for selective mining of high margin ore in 2026. In addition, the new access being developed on the western side of the 700 Zone will enable diamond drilling access to targets that were previously inaccessible from existing mine workings. This is an exciting exploration initiative that is anticipated to commence later this year.”

McCreedy West Diamond Drilling

The underground diamond drilling program at the McCreedy West mine is supported by two drills and is currently focused on definition and expansion drilling in the 700 Zone. Additional diamond drilling assays received since the news release dated June 10, 2025 are summarized in Table 1 and drillhole collar information is presented in Table 2. At McCreedy West, definition drilling with one drill continues to support near to mid-term production, with infill drilling designed to facilitate detailed stope design and optimize production grade. The second drill has begun definition and expansion drilling in areas not currently considered in the mine plan. Initial drilling on the 590 Level is focused on defining high-grade mineralization within the footwall side of the 700 Zone (Figures 2 and 3). At McCreedy West, precious metal grades appear to increase as a function of the distance into the footwall from the SIC contact. Drilling in this area has intersected massive sulphide veins with high precious metal grades up to 42.6 g/t Pt + Pd + Au over 0.3 meters and 28.1 g/t Pt + Pd + Au over 1.8 meters in drillholes MMW-25-133 and MMW-25-119 respectively. These high-grade Cu-PGE veins have the potential to be developed with more selective mining methods and could provide a source of high margin ore in 2026. This area remains open for potential expansion both up-dip and along strike to the east and west. Development on the 930 Level required to establish new diamond drilling platforms is progressing on schedule and Magna expects to be drilling on the western side of the 700 Zone (Figure 2) later this year. The western margin of the known 700 Zone is not well defined and has been identified as a high priority exploration target. There is potential to expand the 700 Zone mineralization west towards the adjacent past producing Hardy/Boundary deposit.

Figure 1: Location of Magna Mining Existing Properties, and Key Sudbury Infrastructure

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8002/261377_36792265d4949b19_002full.jpg

Figure 2: McCreedy West Mine Oblique 3D View Showing the Location of Mineralized Zones

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8002/261377_36792265d4949b19_003full.jpg

Figure 3: McCreedy West Vertical Section Looking East, Showing Selected Narrow Vein Intersections

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8002/261377_36792265d4949b19_004full.jpg

Table 1: Summary of Drillhole Results from Magna 2025 McCreedy West Drilling

Important Notes to Table 1:
All lengths are downhole length. True widths are uncertain at this time.
Ni Eq % = (Ni% x 85% Recovery x 2204 x Ni Price $/lb) + (Cu% x 96% Recovery x 2204 x Cu Price $/lb) + (Co% x 56% Recovery x 2204 x Co Price $/lb) + (Pt gpt x 69% Recovery / 31.1035 x Pt $/oz) +(Pd gpt x 68% Recovery / 31.1035 x Pd $/oz) + (Au gpt x 68% Recovery / 31.1035 x Au $/oz))/2204 x Ni $/lb.
Cu Eq % = (Ni% x 85% Recovery x 2204 x Ni Price $/lb) + (Cu% x 96% Recovery x 2204 x Cu Price $/lb) + (Co% x 56% Recovery x 2204 x Co Price $/lb) + (Pt gpt x 69% Recovery / 31.1035 x Pt $/oz) +(Pd gpt x 68% Recovery / 31.1035 x Pd $/oz) + (Au gpt x 68% Recovery / 31.1035 x Au $/oz))/2204 x Cui $/lb.
Metal prices in US$: $7.30/lb Ni, $4.10/lb Cu, $15.00/lb Co, $1,000/oz Pt, $1,050/oz Pd and $2,200/oz Au. 

Table 2: Drillhole Collar Coordinates

*Drillhole Coordinates are in Coordinate System NAD 83 Zone 17

Qualified Person for Technical Information

The scientific and technical information in this press release has been reviewed and approved by David King, M.Sc., P.Geo. Mr. King is the Senior Vice President, Exploration and Geoscience for the Company and is a qualified person under National Instrument 43-101.

Quality Assurance and Control

Sample QA/QC procedures for Magna have been designed to meet or exceed industry standards. Drill core is collected from the diamond drill and placed in sealed core trays for transport to Magna’s core facilities. Levack drilling utilizes NQ sized core and McCreedy West utilizes BQTK sized core. The core is then logged and samples marked in intervals of up to 1.5m. Levack drill core is split and sampled ½ core, and McCreedy west is whole core sampled. Samples are then put into plastic bags with 10 bagged samples being placed into rice bags for transport to SGS Laboratories in Garson, Ontario for preparation, which are then shipped to Lakefield, Ontario for analysis. Samples are submitted in batches of 50 with 4 QA/QC samples including, 2 certified reference material standards and 2 samples of blank material.

Cautionary Statement on Forward-Looking Statements

All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology, such as “may”, “might”, “potential”, “expect”, “anticipate”, “estimate”, “believe”, “could”, “should”, “would”, “will”, “continue”, “intend”, “plan”, “forecast”, “prospective”, “appear” or other similar words or phrases or variations thereof. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, economic, technical and other risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements, including risks relating to the failure to add, delineate or discover additional mineralization, resources or reserves at the McCreedy West mine, the failure to have accurately estimated the actual resources or reserves at the McCreedy West mine that the Company produces copper, nickel, platinum-group or precious metals from, the failure to successfully execute narrow vein mining techniques with a view to economically extracting estimated mineralization, resources or reserves, unanticipated delays in the implementation of drilling programs, delays in the receipt of assay results, unanticipated delays in additional development at the McCreedy West mine and other risks disclosed in the Company’s most recent annual management discussion and analysis, available on the SEDAR+ website (at: www.sedarplus.ca). Although the Company has attempted to identify important risks, uncertainties, contingencies and factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements, there can be no certainty or assurance that the Company has accurately or adequately captured, accounted for or disclosed all such risks, uncertainties, contingencies or factors. Readers should place no reliance on forward-looking statements as actual results, performance or achievements may be materially different from those expressed or implied by such statements. Resource exploration and development, and mining operations, are highly speculative, characterized by several significant risks, which even a combination of careful evaluation, experience and knowledge will not eliminate. Forward-looking statements speak only as of the date they are made. The Company does not undertake to update any forward-looking statements, whether as a result of new information or future events or otherwise, except in accordance with applicable securities laws.

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

About Magna Mining Inc.

Magna Mining is a producing mining company with a portfolio of copper, nickel and PGM operating, exploration and development projects in the Sudbury Region of Ontario, Canada. The Company’s primary assets are the producing McCreedy West copper mine and the past producing Levack, Crean Hill, Podolsky, and Shakespeare mines. Additional information about the Company is available on SEDAR (www.sedarplus.ca) and on the Company’s website (www.magnamining.com).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261377