Magna Mining's McCreedy West Delivers Strongest Quarter Since Sudbury Acquisition

• Q4 2025 production at McCreedy West reached 5.0 million copper equivalent payable pounds, the highest quarterly output since Magna completed its Sudbury asset acquisition in February 2025.
• McCreedy West generated a positive cash margin of C$3.3 million in Q4 2025, reflecting improved access to higher-grade ore areas of the mine.
• Full year 2025 production totalled 11.5 million copper equivalent payable pounds at a grade of 3.10% CuEq over ten months of company ownership, generating C$60.0 million in mining revenue.
• Magna closed Q4 2025 with C$55.9 million in cash and cash equivalents, alongside C$21.7 million in trade receivables.
• Technical studies at the Levack Mine and Crean Hill Project are both scheduled for completion in Q3 2026.

Magna Mining Inc. (TSXV: NICU | OTCQX: MGMNF | FSE: 8YD) is a Canada-based producing mining company with a portfolio of copper, nickel, and precious metals assets in Ontario's world-class Sudbury mining district. Its primary operating asset is the McCreedy West Mine, currently in production, supported by a pipeline of permitted, previously producing properties including Levack, Crean Hill, Podolsky, and Shakespeare. The company aims to build long-term shareholder value through continued production, exploration, and the advancement of its development pipeline.

Q4 2025 and Full Year Operating and Financial Performance at McCreedy West

McCreedy West processed 84,954 tons of ore from the 700 Footwall Copper Zone in Q4 2025 at a grade of 3.41% copper equivalent (CuEq, a measure that converts all metals produced into a single copper-based figure for easier comparison). This yielded 5.0 million CuEq payable pounds, consisting of 1.91 million pounds of copper, 0.24 million pounds of nickel, 1,626 ounces of platinum, 1,814 ounces of palladium, 601 ounces of gold, and 23,440 ounces of silver. Revenue from mining operations for the quarter was C$24.6 million.

Cash costs, the direct cost of mining and processing ore before corporate overhead, were US$3.08 per CuEq pound in Q4. The all-in sustaining cost (AISC), which adds sustaining capital expenditures and site-level exploration to the cash cost figure, was US$3.49 per CuEq pound, reflecting C$1.1 million in sustaining mine capital development, equipment, and exploration. These figures produced a total cash margin of C$3.3 million, or C$0.67 per CuEq payable pound, for the quarter.

For the full year 2025, McCreedy West produced 11.5 million CuEq payable pounds across the ten months of Magna's ownership, generating C$60.0 million in revenue. Full year cash costs were US$3.72 per CuEq pound and AISC was US$4.47 per CuEq pound, including C$7.1 million in sustaining mine capital development, equipment, and exploration. The cumulative cash margin for 2025 was C$0.4 million, or C$0.03 per CuEq payable pound.

Underground Development Progress and Mine Plan Execution

Throughout 2025, Magna's team at McCreedy West executed an underground development programme focused on accessing new areas of the mine with better-grade stopes, the underground chambers from which ore is extracted, with the goal of building consistency and flexibility into the mine plan. Q4 2025 production reflects the results of that programme, with increased diamond drilling and stope availability during the quarter contributing to the improved output and grade.

CEO Jason Jessup commented: 

"During the fourth quarter of 2025, Magna continued to execute on our underground development plan, with increased diamond drilling and stope availability at McCreedy West. As discussed in the Q3 financial results conference call, the goal of this plan was to access new areas of the mine with better grade stopes, build in consistency and flexibility to the mine plan and position the operation to execute profitable production in 2026."

Magna has reaffirmed its 2026 production guidance on the back of Q4 results, noting that output will be slightly weighted toward the second half of the year due to stope sequencing. The company is also separately evaluating the potential restart of the nickel-rich Intermain contact-type deposit at McCreedy West.

Financial Position and Project Advancement Funding

Magna ended Q4 2025 with C$55.9 million in cash and cash equivalents, alongside C$21.7 million in trade receivables from the sale of copper, nickel, cobalt, platinum, palladium, gold, and silver. During 2025, the company invested C$8.2 million in exploration and evaluation expenses across its non-producing assets.

The largest portion, C$4.6 million, was directed to Levack to support an internal mine restart study and exploration for new footwall deposits. A Preliminary Economic Assessment (PEA), an early-stage study that models whether a project could be economically viable, is now underway at Levack. A further C$1.6 million was invested at Crean Hill to advance power infrastructure, engineering design, and water pre-treatment planning, supporting a Pre-Feasibility Study (PFS), a more detailed technical and economic evaluation. Both studies are scheduled for completion in Q3 2026.

CEO Jason Jessup added: 

"well-funded to advance our Levack and Crean Hill projects towards restart and construction decisions, respectively, as well as aggressively diamond drill and expand our R2 Footwall Zone discovery at Levack, and test new high grade copper targets on our other properties in 2026."

Looking Ahead

With Q4 2025 production confirmed as the strongest quarter since the Sudbury acquisition, Magna enters 2026 with its production guidance intact and output expected to build through the year, weighted toward the second half due to stope sequencing. The completion of the Levack PEA and the Crean Hill PFS, both scheduled for Q3 2026, will determine the path forward for two additional assets in the company's portfolio. Ongoing diamond drilling at the R2 Footwall Zone at Levack and exploration across other Sudbury properties remain part of the planned activity for the year.

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