Magna Mining Reports High-Grade Copper Intersections at Levack Mine R2 Target

• Drillhole FNX6083-W2 intersected 19.3% copper with 26.1 g/t combined platinum, palladium and gold over 0.5 metres, alongside three additional high-grade intervals
• Mineralisation encountered approximately 50 metres higher than expected, interpreted as a transition zone between nickel-rich and copper-rich vein systems
• Silver assays up to 190 g/t received from previously reported drillholes, with FNX6083-W2 returning up to 127.0 g/t silver
• Four drillholes completed at R2 target with two awaiting assay results; two surface rigs currently operating in the target area
• Underground drilling commenced east of Fecunis Fault, following up on historical intersection of 33.4% copper and 23.9 g/t precious metals

Magna Mining Inc. (TSXV: NICU) is a Canadian company focused on producing, developing and exploring copper, nickel and platinum group metals in the Sudbury Basin, Ontario. The company's producing asset is the McCreedy West Mine, with a portfolio of past-producing properties including Levack, Crean Hill, Podolsky and Shakespeare.

R2 Target Drill Results

Drillhole FNX6083-W2, targeted approximately 40 metres north of FNX6083-W1, intersected multiple mineralised intervals at elevations approximately 50 metres higher than anticipated. The hole returned 19.3% copper, 0.3% nickel and 26.1 g/t platinum, palladium and gold over 0.5 metres. Three additional intervals were reported: 4.9% copper with 12.4% nickel and 24.2 g/t precious metals over 0.4 metres; 14.1% copper with 0.5% nickel and 10.4 g/t precious metals over 0.6 metres; and 7.0% copper with 0.1% nickel and 16.4 g/t precious metals over 1.1 metres.

The drillhole intersected both nickel-rich pentlandite veins and copper-rich chalcopyrite veins with associated precious metal content. Silver assays from FNX6083-W2 included 127.0 g/t over 0.5 metres and 109.0 g/t over 0.6 metres. Additional silver results from previously reported drillholes showed values up to 190 g/t over 1.0 metre in FNX6083-W1.

Two additional drillholes, FNX6083-W3 and FNX2026-W1, have been completed targeting down-dip extensions of FNX6083-W1, with assay results pending.

Geological Interpretation

Dave King, SVP Exploration and Geoscience, stated:

"Drillhole FNX6083-W2 was targeted north of FNX6083-W1, and intersected mineralization higher in the hole than expected and is interpreted to be within the transition zone between the nickel rich pentlandite veins and the copper rich chalcopyrite veins."

The company has compared the R2 target to the Morrison Footwall Cu-PGE Deposit, located approximately 600 metres southwest.

Dave King, SVP Exploration and Geoscience noted:

"In the Morrison Footwall Cu-PGE Deposit, located approximately 600 metres to the south-west of the R2 target area, this would indicate more chalcopyrite dominated veins could be found at lower elevations."

Dave King, SVP Exploration and Geoscience added:

"Footwall copper-precious metals systems in Sudbury often have multiple vein orientations, and this appears to be the case for the R2 target area. We are in the early stages of defining and understanding the controls on sulphide veining in the R2 target area and recognize that the mineralization is complex."

Exploration Programme

Two surface diamond drills are operating at the Levack Mine, both focused on the R2 target area between the No. 3 Ni-Cu Zone and the Morrison Footwall Cu-PGE Deposit. The company's near-term exploration programme is testing the lateral and down-dip extent of the R2 target and other Sudbury Breccia units.

Underground drilling has commenced with one diamond drill testing footwall targets east of the Fecunis Fault. A second underground drill is expected to be active by month end. The drilling follows up on historical drillhole FNX21200, which intersected 33.4% copper, 0.9% nickel and 23.9 g/t platinum, palladium and gold over 0.2 metres. The initial drillhole will target a geophysical anomaly identified in FNX21200.

According to the company, mineralisation east of the Fecunis Fault could represent the offset equivalent of the R2 mineralisation and remains open for exploration. Ongoing drilling is designed to confirm and refine the geological model and define the extent of mineralisation at the R2 target area.

Next Steps

Assay results from drillholes FNX6083-W3 and FNX2026-W1 are pending. Surface drilling will continue at the R2 target to refine the geological model and define mineralisation extent. Underground drilling east of the Fecunis Fault will continue with a second drill rig expected to commence operations by month end. The company will continue testing the R2 target area and other high-priority footwall targets at the Levack Mine.

‍