Magna Mining Reports High-Grade Copper-PGM-Gold Intercept at Levack Mine's R2 Footwall Zone

• New assay results from the R2 Footwall Zone at Levack Mine include 9.4% copper, 2.3% nickel, 19.8 g/t gold, and 8.8 g/t combined platinum and palladium over 3.4 metres (29.7% copper equivalent)
• A narrower interval within the same hole returned 18.7% copper, 60.2 g/t combined platinum, palladium and gold, and 103.8 g/t silver over 1.5 metres
• Fourteen drillholes have now tested the R2 Footwall Zone, with each hole intersecting copper and precious metals mineralisation
• Three drill rigs are active at Levack, with two additional rigs scheduled to begin by July
• Magna's common shares began trading on the Toronto Stock Exchange on June 23, 2026, following graduation from the TSX Venture Exchange, under the same ticker, NICU

Magna Mining Inc. (TSX: NICU) is a Canada-based mining company producing copper, nickel, and platinum group metals from the Sudbury basin in Ontario. Its primary asset, the McCreedy West Mine, is currently in production. The Company also holds a group of past-producing properties, including Levack, Crean Hill, Podolsky, and Shakespeare, which it is advancing toward potential future production alongside its exploration activities.

High-Grade Copper-PGM-Gold Drill Results Within R2 Footwall Zone at Levack Mine

Hole MLV-26-14A W2 returned 9.4% copper, 2.3% nickel, 19.8 g/t gold, and 8.8 g/t combined platinum and palladium over 3.4 metres, equal to 29.7% copper equivalent. A copper equivalent figure converts multiple metals into a single value based on their respective market prices, allowing a multi-metal intercept to be compared on the same basis as a single-metal result. Within that interval, a narrower 1.5 metre section returned 18.7% copper, 0.7% nickel, and 57.0% copper equivalent.

Two further holes reported in this release, MLV-26-14A W3 and MLV-26-41, also intersected copper and precious metals mineralisation, including 43.9% copper equivalent over 1.1 metres and 30.4% copper equivalent over 0.4 metres. MLV-26-41 is the first hole drilled from underground to target the R2 Footwall Zone directly, rather than from surface. Fourteen holes have now tested the zone, with each one intersecting copper and precious metals mineralisation across a vein system that extends approximately 300 metres vertically and 150 metres from north to south.

Dave King, Senior Vice President, Exploration and Geoscience at Magna, said:

"Exploration drilling within the R2 Footwall Zone continues to intersect and define the high grade copper massive sulphide footwall vein system, including impressive precious metals with gold values up to 44.3 g/t over 1.5 metres. To date, fourteen drillholes have targeted the R2 Footwall Zone, with all holes intersecting copper and precious metals-rich mineralization."

Continued Underground and Surface Drilling Expanding Vein System Ahead of Restart Decision

Two surface rigs and one underground rig are currently active at Levack, with a second underground rig scheduled to begin this week and a third to follow in July. Underground holes are generally shorter than those drilled from surface, which Magna expects will improve overall drilling efficiency as more underground platforms become available.

Underground development crews have advanced the 2950 Level exploration drift approximately 185 metres toward the R2 Footwall Zone and expect to reach the first underground drilling platform by the end of July. Separately, rehabilitation work is underway along the 2650 Level, which is intended to support drilling platforms that will test the upper portion of the R2 Footwall Zone and additional targets near the historical No. 3 Orebody.

This drilling and development work is proceeding alongside completion of the Levack Preliminary Economic Assessment, expected in the third quarter of 2026, which Magna has identified as a step ahead of its anticipated restart decision in the second half of the year. Dave King said drilling efficiency is expected to improve significantly over the coming weeks as additional drills are activated from new underground platforms and begin completing shorter holes.

Company Graduation to TSX Listing from TSX Venture Exchange

Magna's common shares began trading on the Toronto Stock Exchange on June 23, 2026, having graduated from the TSX Venture Exchange. The graduation had previously been announced as part of the Company's June 18, 2026 update, which also covered the results of its Annual and Special Meeting of Shareholders.

The shares continue to trade under the existing symbol, NICU, with the delisting from the TSX Venture Exchange taking effect at the commencement of trading on the TSX. No change was made to the stock symbol or CUSIP for the common shares as part of the listing move.

Shareholders were not required to take any action or exchange share certificates in connection with the graduation, as the existing symbol and CUSIP remained unchanged throughout the transition.

Milestones and Next Steps

Magna expects to complete the Levack Preliminary Economic Assessment in the third quarter of 2026, ahead of an anticipated restart decision for Levack Mine later in the year. Near-term drilling will focus on expanding mineralisation up-dip within the R2 Footwall Zone, testing its relationship with the historical No. 3 Orebody, and infill drilling to better define vein thickness and the distribution of precious metals. Additional drill rigs are scheduled to come online through July as underground development continues toward new drilling platforms.

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