High-Grade Nickel-Copper-PGM Project Advancing Towards Production in Sudbury, Canada

• Magna Mining is a Sudbury-focused nickel-copper PGM exploration development company with two major assets in the Sudbury region.
• The company is currently working on permitting and approvals for bulk sampling and advanced exploration underground mining. The bulk sample is intended to generate insights rather than just cash.
• Recent drill results at the Crane Hill project indicated higher-than-expected grades, prompting a re-evaluation of the block model. The bulk sample will be compared to a third-party mill to better understand the deposit's structure.
• Magna Mining has a current resource of 31 million tons, with both open pit and underground potential. The company is working on a Preliminary Economic Assessment (PEA) to determine the feasibility of the mining plan.
• In the short term, Magna will focus on its current assets, especially with exploration potential at Crane Hill. They are also considering the acquisition of other non-core assets in the Sudbury Basin in the future.

Magna Mining is rapidly advancing its high-grade nickel-copper-PGM project in the prolific Sudbury mining region of Canada. With multiple discoveries and strategic developments underway, Magna is positioning itself to become Canada's next nickel producer.

Exploration Success Refines High-Grade Zone at Flagship Crane Hill Project

Recent drilling at Magna's flagship Crane Hill project has revealed a new interpretation of the high-grade 109 Zone. Hole 13 intersected semi-massive to massive sulfide mineralization starting at just 9 meters downhole and grading an impressive 2% copper and 4% nickel over 5 meters.

This high-grade intercept is significantly above the previously modeled low sulfide PGM grades for the 109 Zone. Follow-up drilling has continued to hit shallow high-grade semi-massive sulfides near surface, indicating the presence of a wider high-grade trend.

With assays pending, Magna is planning an 18,000-50,000 tonne bulk sample for 2023 to reconcile the drilling against the block model. Successfully defining this shallow high-grade zone could substantially improve mine economics through early high-margin production.

Permitted Mill Provides Clear Path to Production

Magna holds a permitted 4,500 tonne per day mill at its Shakespeare project, also located in the prolific Sudbury camp. The Shakespeare mill provides a fully permitted processing solution for any future mining at Crane Hill or other regional deposits.

Rather than undertaking a large capital build, Magna plans to toll mill initial Crane Hill mineralization at one of the two operating third-party mills in Sudbury. This minimizes upfront capex while allowing early cash flow from production. Definitive toll milling terms are expected within 3 months.

The bootstrapped approach leverages Crane Hill's exceptional location within a major mining district. Low-cost mining and toll milling could generate cash flow to fund ongoing development and exploration growth.

Underground Development Plan Focused on High-Grade Near Surface

An upcoming PEA will study both low-cost open pit and underground mining options at Crane Hill, providing flexibility for the project. Given the recent exploration success, initial underground development will likely focus on the newly defined high-grade zones under 50-75 meters depth.

Drifting into these shallow zones is expected to begin mining +6% nickel-copper material with over 10 g/t PGMs. With margins upwards of 60%, even modest tonnage from initial underground mining could generate substantial early cash flow to support ongoing operations.

Permitting Progress Paves Way for Bulk Sample and Exploration

Crane Hill benefits from Magna's strong operational experience in the low-risk Sudbury jurisdiction. The project covers a past-producing mine with extensive existing infrastructure, aiding permitting.

Work is underway to obtain necessary approvals for 2023 bulk sampling and advanced exploration underground. The bulk sample will provide an important feasibility study on the new high-grade interpretation. Additional permitting would facilitate more extensive development and mining.

This near-term permitting progress derisks the path forward - allowing Magna to demonstrate feasible mining while advancing the project.

Significant Exploration Upside Within Existing Deposits

As Magna's geological team continues refining their understanding of the two projects, significant resource expansion potential remains.

Ongoing drilling at Crane Hill aims to better define the extent and continuity of the newly discovered high-grade massive sulfide zones. Additional shallow step-out drilling could rapidly expand the zones amenable to low-cost open pit and underground mining.

At Shakespeare, early drilling has identified new regional targets beyond the known deposit. Successful follow-up could outline entirely new zones for future resource growth.

After Earning Market Attention, Magna Positioned for Next Steps

With two advanced exploration assets in a Tier 1 mining jurisdiction, Magna Mining presents a unique nickel investment opportunity. The company's strategic vision stands apart from exploration peers through:

• Rapid discovery & definition of significant high-grade mineralization
• Low-capex production plans using existing regional infrastructure
• Clear path to feasibility via bulk sample, development & exploration
• World-class mining location providing stability & exploration upside

Following this successful exploration period, Magna has emerged with a fresh understanding of Crane Hill's potential. With strategic near-term catalysts in place, Magna is poised to graduate towards production. The next year will focus on surface infrastructure, permitting, and underground development ahead of the 2023 bulk sample. Successful execution will validate the exceptional grades and continuity of the newly discovered zones.

This phased de-risking approach allows time for the market to recognize Magna's potential. As positive updates are delivered, Magna will become uniquely positioned amongst juniors for a transition to mining. With strengthening investor confidence in the project fundamentals, Magna will be ready to accelerate development. Their industry expertise and operational advantage in Sudbury provide a clear path to production, fueling the next phase of growth for shareholders.

The Investment Thesis for Magna Mining

• High-grade deposits: The drilling results have revealed exceptionally high grades of nickel, copper, and PGMs starting near surface. These grades are significantly higher than typical deposits and provide high-profit margins.
• Near-term production potential: Rather than a long-dated exploration project, Magna has a clear low-capex path to initial production in the next 1-2 years via toll milling. This allows potential near-term cash flow.
• Exploration upside: The recent discoveries indicate there is substantial resource expansion potential at depth and along strike from the known zones. Additional drilling success could rapidly grow the resource base.
• Safe mining jurisdiction: Sudbury is a premier global mining region with a long history of production. This provides security and extensive infrastructure advantages versus remote exploration sites.
• Takeout potential: As Magna delineates and de-risks a significant new nickel sulfide deposit in a top mining jurisdiction, it could become an attractive takeover target for a major looking to add resources.
• Experienced team: Management has track records of successfully moving projects from exploration into production in Sudbury. Their technical expertise reduces execution risk.
• Clear advancement strategy: The phased work plan provides regular catalysts as Magna derisks the project over the next 12-18 months. This can maintain investor interest.

Overall, Magna provides a unique exposure to a potential near-term, high-margin nickel sulfide producer in a premier jurisdiction. The defined work plan and experienced team help derisk the opportunity relative to early-stage exploration.