Magna Mining Reports High-Grade Copper and Precious Metal Drill Results at the Levack Mine in Sudbury

• Drill hole FNX6083-W5 returned three high-grade intervals, including 20.3% Cu and 10.3 g/t combined platinum, palladium, and gold (Pt+Pd+Au) over 0.7 metres, and 24.4% Cu over 1.0 metre
• Drill hole FNX6070-W1 intersected 28.3 g/t Pt+Pd+Au over 1.1 metres, within a broader 7.7-metre zone averaging 1.3% copper
• The R2 Footwall Zone has now been traced over approximately 300 metres vertically and 150 metres north to south, and remains open up-dip towards the No. 3 Footwall Zone and to the southwest towards the Morrison Footwall Cu-PGE Deposit
• Three new underground drill holes targeting the area between the Morrison deposit and the Keel Cu-PGE Zone each returned precious metal values, with follow-up drilling planned
• A Preliminary Economic Assessment (PEA) for the Levack Mine is underway, with completion targeted for fall 2026

Magna Mining Inc. (TSXV: NICU; OTCQX: MGMNF; FSE: 8YD) is a Canadian-based mining company with a portfolio of copper, nickel, and Platinum Group Metals (PGM) assets in the Sudbury mining district of Ontario, Canada. Its primary producing asset is the McCreedy West Mine, complemented by a group of fully permitted, past-producing properties that includes Levack, Crean Hill, Podolsky, and Shakespeare.

High-Grade Copper and Precious Metal Drill Results from the R2 Footwall Zone

Magna Mining released assay results from five diamond drill holes at the Levack Mine, with most results tied to the R2 Footwall Zone. Drill hole FNX6083-W5 targeted the area up-dip from a previously drilled hole and encountered four mineralised veins over 28.6 metres, approximately 50 metres above the veins intersected in that earlier hole. The hole returned grades of up to 24.4% copper, 0.9% nickel, and 173 g/t silver over 1.0 metre, with a second interval grading 20.3% copper, 0.1% nickel, 10.3 g/t Pt+Pd+Au, and 151 g/t silver over 0.7 metres.

Drill hole FNX6070-W1 was drilled from the same platform as two prior holes and tested the area south and down-plunge of previous mineralisation. It intersected four mineralised intervals over 39.3 metres, highlighted by 5.7% copper, 0.1% nickel, and 28.3 g/t Pt+Pd+Au over 1.1 metres, within a broader interval of 7.7 metres grading 1.3% copper, 0.1% nickel, and 6.4 g/t Pt+Pd+Au.

Updated assay results were also received for two previously reported holes, FNX6083-W2 and FNX6083-W4. FNX6083-W2 returned additional intervals including 11.0% copper over 0.3 metres and 9.1 g/t gold over 0.3 metres. FNX6083-W4 intersected four additional occurrences of stringer to narrow vein mineralisation over roughly 147.8 metres, including 24.1% copper and 114 g/t silver over 0.3 metres. According to the company, the occurrence of stringer and narrow vein mineralisation in the periphery of thicker massive sulphide veins is common in footwall copper-precious metal systems in the North Range of the Sudbury Basin.

R2 Zone Mineralisation Extends Over 300 Metres Vertically and 150 Metres North to South

The combined drilling programme at the R2 Zone has now delineated mineralisation over approximately 300 metres vertically and 150 metres in the north-south direction. The zone remains open up-dip towards the No. 3 Footwall Zone and at depth to the southwest towards the Morrison Footwall Cu-PGE Deposit, located approximately 600 metres away.

Dave King, Senior Vice President of Exploration and Geoscience, commented: 

"It is quite encouraging to have multiple metre-scale intersections, demonstrating similar vein widths in the R2 Zone to those that were historically mined in some areas of the Morrison Footwall Copper-PGE Deposit."

Additional wedge holes, which are side-track drillholes branching off an existing hole to test nearby ground, are in progress to continue testing the up-dip potential of the R2 Zone towards the No. 3 Footwall Zone.

Underground Drilling Campaign Active Across Multiple Targets; PEA Targeted for Fall 2026

Three underground drill holes, MLV-25-42, MLV-25-43, and MLV-25-44, were completed in the second half of 2025 to test footwall targets in the area between the Morrison Footwall Cu-PGE Deposit and the Keel Cu-PGE Zone, described by the company as underexplored. Each hole intersected narrow zones of precious metal-rich mineralisation within Sudbury Breccia, the host rock associated with this style of mineralisation, and follow-up drilling is planned.

Drilling at Levack is currently being carried out by two surface rigs and two underground rigs, with objectives that include expanding the R2 Zone, testing for a potential faulted offset of the R2 Zone east of the Fecunis fault, and testing additional footwall targets. The company is also rehabilitating existing underground tunnels at Levack to establish new drilling platforms, which it says will allow shorter drill holes for infill and expansion drilling of the R2 Zone.

A PEA, which provides an initial economic assessment of a mineral deposit including estimates of potential costs and project economics, is underway based on the NI 43-101 Mineral Resource Estimate already published for the Levack Mine. Magna Mining has targeted completion of the PEA for fall 2026.

Looking Ahead

With the R2 Zone now confirmed over approximately 300 metres vertically and open in multiple directions, Magna Mining's four-rig drilling programme at Levack remains focused on expanding its boundaries, testing nearby footwall targets, and advancing underground access for more efficient drilling. The fall 2026 PEA will mark a key step in assessing the economic potential of the Levack Mine as the company continues production at McCreedy West.

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