Magna Mining Announces New Drill Results from McCreedy West and Recognition from the Government of Ontario

June 10, 2025 7:15 AM EDT | Source: Magna Mining Inc.

Sudbury, Ontario--(Newsfile Corp. - June 10, 2025) - Magna Mining Inc. (TSXV: NICU) (OTCQX: MGMNF) (FSE: 8YD) ("Magna" or the "Company") is pleased to announce additional drill results from the McCreedy West mine, including 3.0% Cu, 0.4% Ni, 9.1 g/t Pt + Pd + Au over 10.8 metres and 3.9% Cu, 0.6% Ni, 6.8 g/t Pt + Pd + Au over 2.1 metres in drillhole FNX33368 (Table 1). Magna is also pleased to announce that the Sudbury based projects owned and operated by the Company have been identified as shovel ready, strategic critical mineral projects by the Government of Ontario. In a letter to Canada's Minister of Energy and Natural Resources, Ontario's Ministers of Energy and Mines, Natural Resources, and Indigenous Affairs and First Nations Economic Reconciliation, the Government of Ontario urged the Federal Government to invest in critical mineral mines and infrastructure in Ontario.

Highlights from the new assay results include:

  • FNX33344: 5.1% Cu, 1.0% Ni, 1.8 g/t Pt + Pd + Au over 6.6 metres

  • FNX33350: 2.0% Cu, 0.2% Ni, 2.6 g/t Pt + Pd + Au over 20.0 metres

Including 29.5% Cu, 0.2% Ni, 18.7 g/t Pt + Pd + Au over 0.5 metres

And 23.4% Cu, 0.1% Ni, 38.5 g/t Pt + Pd + Au over 0.5 metres

  • FNX33368: 3.0% Cu, 0.4% Ni, 9.1 g/t Pt + Pd + Au over 10.8 metres

And 3.9% Cu, 0.6% Ni, 6.8 g/t Pt + Pd + Au over 2.1 metres

  • FNX33385: 2.7% Cu, 0.4% Ni, 6.9 g/t Pt + Pd + Au over 7.0 metres

And 28.9% Cu, 1.0% Ni, 2.2 g/t Pt + Pd + Au over 0.8 metres

Diamond Drilling

Production drilling at the McCreedy West Mine is ongoing with two underground diamond drills working in the 700 Cu-PGE Footwall Zone (Figure 1). Drilling is currently focused on supporting the mid-term production planning and better definition and grade confidence for stopes in the 2025 mine plan. A summary of assay results since Magna took ownership of the property on March 1, 2025, is found in Table 1, and drillhole collar information in Table 2. As development progresses and drilling platforms become available, the focus will shift to expansion and definition drilling along the lower margins and to the west of the known 700 Cu-PGE Footwall Zone (Figure 2).

There is one surface diamond drill rig at Levack Mine that is supporting definition and expansion drilling on the Keel Zone in the footwall of the Main Orebody. Results from two additional drillholes on the periphery of the Main Orebody are presented in Table 1. Once drilling in the Keel area is complete, this rig will continue with definition and expansion within near surface portions of the No. 1 and No. 2 Ni-Cu zones in support of the Levack mine restart study. A second rig is currently drilling exploration targets in the footwall of the historic No. 3 Orebody and will continue testing deeper targets over the next few months. In addition to the current surface drilling, Magna has begun planning an underground drilling program, which we anticipate starting in the third quarter as suitable drilling platforms are identified and become available. Assay result turn-around times were slower than expected in May, resulting in a reduced number of Levack drill hole assay results available to report at this time. We believe the issues have been resolved and anticipate that going forward, assay results should be as expected.

Regional Exploration

Geological compilation work is underway on Magna's exploration and development stage properties, including Podolsky and Kirkwood, in advance of summer field programs. Priority exploration targets at Kirkwood include the near surface Sudbury breccia hosted Segway Footwall Cu-PGE zone, which was discovered by FNX Mining Inc. however has not been fully explored below the 150-metre level (Figure 3). At Podolsky, exploration will follow-up on historical drillhole intersections outside of the known mineralized zones, within the footwall breccias (Figure 4). Magna has initiated surface prospecting, mapping and sampling in areas where information is lacking, with the goal of identifying and prioritizing additional exploration targets that can be drill tested in 2025. Magna intends to commence exploration drilling on the highest priority targets in the 3rd quarter.

Magna Mining Projects Identified as Priorities for Strategic Critical Mineral Supply Chain Development by the Government of Ontario

Magna is pleased to announce that the Sudbury based projects owned and operated by the Company have been identified as shovel ready, strategic critical mineral projects by the Province of Ontario. In a letter to Canada's Minister of Energy and Natural Resources, Ontario's Ministers of Energy and Mines, Natural Resources, and Indigenous Affairs and First Nations Economic Reconciliation urged the Federal Government to invest in critical mineral mines and infrastructure. The projects owned and operated by Magna were on a shortlist of such projects that the Ontario Government identified as priorities for investment. Magna owns one producing critical mineral mine and four permitted, past producing projects in the Sudbury region (see Figure 1). The Company has ore selling agreements in place with Vale Base Metals and Glencore Canada to supply ore to their respective concentrators.

Magna's SVP, Paul Fowler, commented: "We are proud to be advancing several projects in Sudbury that we believe will make a meaningful contribution towards augmenting the upstream portion of the critical mineral supply chain in Canada. We certainly appreciate this recognition from the Government of Ontario, and their support and assistance through initiatives such as the $500 million Critical Mineral Processing Fund will be of the upmost importance as we build our projects and expand our existing operations. In conjunction with the support programs now operated by the federal government, we believe that Magna is in a strong position to build our projects as quickly as possible and therefore help to rapidly strengthen Canada's critical mineral supply chain."

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Figure 1: Location of Magna Mining Existing Properties, and Key Sudbury Infrastructure

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Figure 2: McCreedy West Mine Oblique 3D View Showing the Location of Mineralized Zones

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Figure 3: Kirkwood Property Surface Geology and Longitudinal Section Showing Drilling on the Segway Zone

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Figure 4: Podolsky Property Longitudinal Section Showing Known Mineralized Zones and Selected Drillhole Intersections

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Table 1: Summary of Drillhole Results from Magna 2025 McCreedy West Drilling

Drillhole Property Zone   From
(m)		 To 
(m)		 Length
(m)		 Cu
%		 Ni
%		 Co
%		 Pt
g/t		 Pd
g/t		 Au
g/t		 TPM
g/t		 NiEq CuEq
MLV-25-07 Levack East MOB   280.18 280.47 0.29 3.96 3.86 0.03 1.75 0.72 0.04 2.51 5.80 10.32
      and 283.45 285.05 1.60 3.47 0.47 0.01 0.56 0.54 0.08 1.17 2.45 4.36
      and 296.57 296.87 0.30 2.08 2.46 0.03 0.82 0.74 0.05 1.61 3.47 6.18
      and  299.15 299.60 0.45 1.79 2.48 0.07 0.72 0.73 0.06 1.51 3.37 6.00
MLV-25-08 Levack East MOB   302.62 303.26 0.64 2.48 1.58 0.01 2.03 0.68 0.32 3.02 3.16 5.63
FNX33323* McCreedy West 700 FW Cu   33.83 42.67 8.84 0.95 0.53 0.01 3.15 1.82 0.82 5.79 1.90 3.39
      and 49.23 51.66 2.44 8.31 0.15 0.00 6.12 5.72 2.05 13.88 6.86 12.21
      and 90.53 97.84 7.32 8.24 0.76 0.01 2.50 4.17 0.87 7.54 6.27 11.17
      and 103.02 104.39 1.37 11.42 2.57 0.03 2.62 4.56 0.65 7.83 9.55 17.01
FNX33325 McCreedy West 700 FW Cu   3.51 12.50 8.99 1.20 0.63 0.00 2.28 2.98 0.34 5.59 2.02 3.60
      and 19.20 19.51 0.30 25.42 0.20 0.01 20.62 5.70 0.14 26.46 17.51 31.18
      and 29.11 29.41 0.30 17.22 0.83 0.03 16.60 7.64 0.39 24.63 13.48 24.01
      and 109.73 123.75 13.41 1.74 0.10 0.00 0.91 1.07 0.47 2.45 1.44 2.57
      Including 121.31 123.75 2.44 5.52 0.10 0.00 2.23 3.42 1.58 7.23 4.31 7.68
      and 132.59 138.53 5.94 2.38 0.48 0.01 1.11 0.78 0.27 2.16 2.03 3.62
FNX33344 McCreedy West 700 FW Cu   18.75 25.30 6.55 5.12 1.01 0.01 0.44 1.12 0.25 1.81 3.92 6.98
FNX33345 McCreedy West 700 FW Cu   1.52 3.05 1.52 16.93 0.52 0.01 4.02 11.22 2.19 17.43 12.34 21.97
FNX33346 McCreedy West 700 FW Cu   6.10 8.38 2.29 2.23 0.44 0.00 0.81 1.94 2.10 4.85 2.58 4.60
      and 15.24 18.14 2.90 3.08 0.60 0.01 0.73 0.94 0.37 2.05 2.52 4.48
FNX33347 McCreedy West 700 FW Cu   6.10 6.71 0.61 2.90 0.64 0.01 1.55 1.77 0.26 3.58 2.65 4.72
      and 16.76 17.07 0.30 5.41 0.07 0.00 0.84 0.91 0.21 1.96 3.27 5.83
FNX33348 McCreedy West 700 FW Cu   19.20 20.12 0.91 21.79 0.74 0.01 3.21 6.76 1.53 11.51 14.20 25.28
FNX33349-1 McCreedy West 700 FW Cu   8.38 9.45 1.07 4.73 1.00 0.01 3.42 4.40 0.28 8.10 4.58 8.15
      and 13.87 18.44 4.57 4.27 0.27 0.00 2.44 2.89 1.08 6.41 3.59 6.40
FNX33350 McCreedy West 700 FW Cu   7.77 27.74 19.96 1.96 0.22 0.00 0.92 1.43 0.27 2.61 1.65 2.94
      Including 16.92 17.37 0.46 29.51 0.20 0.01 9.21 7.89 1.59 18.69 18.88 33.62
      and 27.28 27.74 0.46 23.42 0.13 0.00 7.35 26.74 4.37 38.46 18.81 33.49
FNX33351 McCreedy West 700 FW Cu   17.37 17.68 0.30 12.56 0.83 0.01 2.68 4.56 0.38 7.62 8.59 15.30
FNX33352 McCreedy West 700 FW Cu   2.29 3.81 1.52 0.22 0.19 0.00 0.63 0.07 0.63 1.33 0.57 1.01
FNX33353 McCreedy West 700 FW Cu   34.44 38.56 4.11 1.50 0.27 0.00 0.73 0.78 0.23 1.75 1.33 2.36
FNX33354* McCreedy West 700 FW Cu   24.84 35.97 11.13 6.79 0.21 0.00 1.80 2.15 3.15 7.10 5.32 9.47
      Including 32.61 35.51 2.90 19.51 0.17 0.01 3.85 4.69 7.48 16.03 14.05 25.01
FNX33355 McCreedy West 700 FW Cu   Assays Pending
FNX33356 McCreedy West 700 FW Cu   10.82 11.13 0.30 12.58 0.06 0.00 8.68 0.71 0.40 9.79 8.23 14.65
      and 17.37 18.75 1.37 2.82 0.89 0.00 2.05 1.80 0.74 4.59 3.03 5.40
FNX33357 McCreedy West 700 FW Cu   6.10 17.22 11.13 1.08 0.21 0.00 0.91 0.92 0.38 2.20 1.13 2.01
FNX33358 McCreedy West 700 FW Cu   12.50 19.35 6.86 1.35 0.36 0.00 0.95 0.87 0.53 2.35 1.45 2.58
      and 23.62 26.37 2.74 1.71 0.36 0.01 1.68 2.34 0.37 4.39 1.91 3.40
FNX33359 McCreedy West 700 FW Cu   27.28 29.57 2.29 1.22 0.08 0.00 1.98 2.60 0.84 5.41 1.62 2.88
      and 34.75 35.81 1.07 3.07 2.42 0.01 2.00 3.69 1.45 7.14 4.95 8.82
FNX33360 McCreedy West 700 FW Cu   11.58 13.11 1.52 2.32 1.04 0.01 2.50 1.59 0.98 5.07 3.00 5.34
      and 25.30 37.49 12.19 1.72 0.50 0.00 2.28 1.89 0.65 4.81 2.13 3.80
      and 46.33 47.55 1.22 2.19 1.55 0.01 2.16 1.69 1.57 5.42 3.51 6.25
      and 54.56 59.28 4.72 3.76 1.41 0.01 4.04 5.17 1.69 10.90 5.02 8.95
FNX33361* McCreedy West 700 FW Cu   155.14 158.04 2.90 4.30 5.03 0.07 1.65 1.86 0.10 3.61 7.18 12.78
FNX33362 McCreedy West 700 FW Cu   3.66 8.99 5.33 0.59 0.14 0.00 1.69 1.45 0.71 3.85 1.09 1.94
      and 11.58 16.15 4.57 2.59 0.47 0.01 1.96 2.59 0.76 5.31 2.66 4.74
      and 27.43 30.18 2.74 1.90 0.26 0.00 1.69 2.84 0.68 5.21 2.09 3.72
      and 41.76 42.67 0.91 17.24 0.09 0.00 7.86 14.46 2.15 24.47 13.12 23.35
      and 74.98 76.81 1.83 2.47 0.75 0.01 1.81 3.10 0.69 5.60 2.87 5.10
FNX33364 McCreedy West 700 FW Cu   25.60 25.91 0.30 3.21 1.76 0.01 0.15 2.51 0.14 2.80 3.65 6.49
      and 34.90 35.20 0.30 6.14 0.14 0.01 1.32 4.52 0.15 5.99 4.29 7.64
      and 51.82 53.64 1.83 1.36 0.41 0.01 0.62 0.65 0.25 1.52 1.34 2.38
      and 77.42 77.72 0.30 8.32 0.41 0.00 3.34 0.82 3.82 7.98 6.53 11.62
FNX33365 McCreedy West 700 FW Cu   Assays Pending
FNX33366 McCreedy West 700 FW Cu   25.30 25.60 0.30 1.35 2.45 0.01 1.46 2.75 0.03 4.24 3.42 6.08
      and 48.77 49.07 0.30 5.09 0.47 0.01 0.44 7.39 0.96 8.79 4.54 8.08
      and 66.29 66.90 0.61 4.22 0.06 0.00 3.84 0.89 0.36 5.09 3.08 5.49
      and 68.73 69.65 0.91 1.08 0.25 0.00 1.38 0.50 0.48 2.37 1.20 2.14
FNX33367 McCreedy West 700 FW Cu   Assays Pending
FNX33368 McCreedy West 700 FW Cu   37.49 40.84 3.35 1.32 0.45 0.01 0.84 1.01 0.42 2.28 1.49 2.65
      and 67.06 77.88 10.82 3.03 0.42 0.00 4.55 3.13 1.41 9.09 3.48 6.20
      and 82.30 84.43 2.13 3.86 0.58 0.00 2.41 2.99 1.40 6.80 3.74 6.66
FNX33369 McCreedy West 700 FW Cu   47.70 48.46 0.76 1.83 0.08 0.00 2.39 1.38 0.68 4.45 1.78 3.17
      and 68.28 68.88 0.61 0.60 1.02 0.00 1.32 1.13 0.98 3.43 1.83 3.25
FNX33370* McCreedy West 700 FW Cu   15.24 23.93 8.69 0.68 0.10 0.00 1.01 0.86 0.31 2.19 0.81 1.45
      and 49.83 62.64 12.80 0.96 0.10 0.00 2.05 1.46 0.67 4.19 1.29 2.30
      and 78.33 87.48 9.14 3.88 0.93 0.01 4.11 4.20 1.11 9.42 4.38 7.79
      and 97.23 122.83 25.60 3.53 0.49 0.00 7.22 4.73 2.60 14.56 4.76 8.48
      Including 111.10 121.31 10.21 5.94 0.70 0.00 10.56 7.05 3.80 21.41 7.38 13.14
FNX33371-1 McCreedy West 700 FW Cu   45.26 45.87 0.61 25.73 1.02 0.01 9.16 17.49 5.57 32.22 20.09 35.77
FNX33372 McCreedy West 700 FW Cu   13.87 14.17 0.30 4.32 0.69 0.01 2.98 6.29 0.87 10.14 4.48 7.97
      and 23.01 53.04 30.02 1.34 0.21 0.00 2.79 1.90 0.77 5.46 1.79 3.18
      Including 38.10 38.86 0.76 19.02 0.12 0.00 6.99 15.48 4.58 27.05 14.84 26.43
      and 51.66 53.04 1.37 2.98 1.06 0.01 13.72 5.59 2.73 22.05 6.01 10.70
FNX33373 McCreedy West 700 FW Cu   14.48 18.29 3.81 1.30 0.19 0.00 4.14 2.95 0.75 7.84 2.07 3.69
      and 28.04 28.96 0.91 7.00 0.22 0.00 5.47 9.05 2.70 17.21 6.79 12.09
FNX33374 McCreedy West 700 FW Cu   4.88 6.25 1.37 2.28 0.40 0.00 1.21 1.44 0.30 2.95 2.03 3.61
FNX33375 McCreedy West 700 FW Cu   3.35 3.66 0.30 10.31 0.53 0.01 1.39 8.32 1.20 10.91 7.72 13.74
      and 9.91 10.82 0.91 4.81 1.64 0.01 4.08 4.23 0.84 9.15 5.41 9.63
FNX33376 McCreedy West 700 FW Cu   31.24 32.00 0.76 1.84 0.47 0.00 4.79 3.03 0.78 8.60 2.71 4.83
      and 37.34 37.95 0.61 22.80 0.38 0.01 8.83 19.31 25.09 53.23 24.00 42.74
FNX33377 McCreedy West 700 FW Cu   0.91 6.71 5.79 0.82 0.19 0.00 1.25 1.08 0.35 2.67 1.04 1.85
      and 18.14 19.66 1.52 4.11 1.26 0.01 4.48 4.92 1.91 11.31 5.18 9.22
      and 34.44 39.93 5.49 1.17 0.19 0.00 10.25 3.66 2.45 16.36 3.47 6.17
FNX33379 McCreedy West 700 FW Cu   3.20 3.66 0.46 4.26 1.71 0.00 1.04 3.49 0.57 5.10 4.56 8.11
      and 26.52 29.26 2.74 1.21 2.52 0.01 2.82 2.48 0.77 6.07 3.77 6.72
FNX33380 McCreedy West 700 FW Cu   Assays Pending
FNX33385 McCreedy West 700 FW Cu   7.16 14.17 7.01 2.66 0.37 0.00 1.42 2.12 3.39 6.93 3.25 5.79
      and 42.06 42.82 0.76 28.90 0.95 0.04 0.50 1.37 0.28 2.15 16.70 29.73
FNX33386 McCreedy West 700 FW Cu   10.06 10.97 0.91 4.62 1.42 0.01 2.06 3.37 0.46 5.89 4.60 8.19
FNX33390 McCreedy West 700 FW Cu   68.12 68.73 0.61 27.62 0.19 0.01 0.33 1.49 1.19 3.01 15.60 27.77
      and 79.25 79.55 0.30 19.70 0.16 0.00 1.02 4.82 0.88 6.72 11.79 21.00
FNX33391 McCreedy West 700 FW Cu   Assays Pending
FNX33392 McCreedy West 700 FW Cu   Assays Pending
FNX33393 McCreedy West 700 FW Cu   69.95 71.17 1.22 4.56 0.19 0.00 0.41 1.89 0.15 2.45 2.98 5.31
      and 87.63 88.85 1.22 5.43 0.18 0.00 0.36 1.24 0.18 1.78 3.35 5.96

 

*Previously Released
All lengths are downhole length. True widths are uncertain at this time. 
Ni Eq % = (Ni% x 85% Recovery 2204 x Ni Price $/lb) + (Cu% x 96% Recovery x 2204 x Cu Price $/lb) + (Co% x 56% Recovery x 2204 x Co Price $/lb) + (Pt gpt x 69% Recovery / 31.1035 x Pt $/oz) +(Pd gpt x 68% Recovery / 31.1035 x Pd $/oz) + (Au gpt x 68% Recovery / 31.1035 x Au $/oz))/2204 x Ni $/lb.
Cu Eq % = (Ni% x 85% Recovery 2204 x Ni Price $/lb) + (Cu% x 96% Recovery x 2204 x Cu Price $/lb) + (Co% x 56% Recovery x 2204 x Co Price $/lb) + (Pt gpt x 69% Recovery / 31.1035 x Pt $/oz) +(Pd gpt x 68% Recovery / 31.1035 x Pd $/oz) + (Au gpt x 68% Recovery / 31.1035 x Au $/oz))/2204 x Cui $/lb.
Metal prices in US$: $7.30/lb Ni, $4.10/lb Cu, $15.00/lb Co, $1,000/oz Pt, $1,050/oz Pd and $2,200/oz Au. 

Table 2: Drillhole Collar Coordinates

BHIDEastingNorthingElevationAzimuthDipDepth(m)
MLV-25-074718465166794335.0298.0-54.0383.0
MLV-25-084718445166794336.0308.0-51.0345.0
FNX3332346964951649081.9183.216.6107.9
FNX3332546964951649081.7190.613.2146.3
FNX333444697605164831-15.5189.638.936.6
FNX333454697605164831-17.3189.43.06.1
FNX333464697605164831-19.6189.5-43.145.7
FNX333474697595164832-17.3218.227.633.5
FNX333484697595164832-18.0218.42.630.5
FNX33349-14697595164832-17.8240.1-21.991.4
FNX333504697595164832-18.8218.6-31.342.7
FNX333514697595164832-17.7231.629.827.4
FNX333524697595164832-17.3232.4-12.06.7
FNX333534697595164833-17.9241.08.039.6
FNX333544697595164833-17.9252.010.933.5
FNX333554697595164833-18.3250.7-13.239.6
FNX333564697595164833-18.2265.8-5.536.6
FNX333574697595164833-19.3268.5-5.724.4
FNX333584697585164834-18.5288.4-9.936.6
FNX33359469764516498739.4267.3-21.034.7
FNX333604698355164878-48.6222.83.160.8
FNX333614698365164877-47.8204.42.0161.5
FNX333624698355164878-47.7214.53.1141.7
FNX33364469767516498639.6202.5-5.862.8
FNX33365469766516498639.7214.9-2.8128.6
FNX33366469766516498639.6213.6-6.172.4
FNX33367469766516498639.6218.8-5.7135.6
FNX33368469765516498740.2233.33.585.3
FNX33369469765516498739.8232.2-7.179.2
FNX33370469764516498840.2261.3-0.5137.2
FNX33371-1469763516498840.2270.5-5.373.2
FNX33372469763516498839.2270.2-15.754.9
FNX33373469763516498838.9271.7-27.232.9
FNX33374469766516499539.8296.610.554.9
FNX33375469767516499640.0-32.416.130.5
FNX33376469767516499639.4-31.8-1.841.1
FNX33377469767516499638.3-32.9-25.442.7
FNX33379469768516499739.4-13.2-1.339.6
FNX33380469768516499738.8-12.1-14.636.6
FNX333854697645164835-16.882.513.851.8
FNX333864697645164835-17.484.4-11.564.0
FNX33390469777516485658.3271.33.889.9
FNX33391469777516485658.1283.012.4106.7
FNX33392469777516485757.9301.77.1115.8
FNX33393469777516485758.0309.310.897.5

 

*Drillhole Coordinates are in Coordinate System NAD 83 Zone 17

Qualified Person for Technical Information

The scientific and technical information in this press release has been reviewed and approved by David King, M.Sc., P.Geo. Mr. King is the Senior Vice President, Exploration and Geoscience for Magna Mining Inc. and is a qualified person under National Instrument 43-101.

Quality Assurance and Control

Sample QA/QC procedures for Magna have been designed to meet or exceed industry standards. Drill core is collected from the diamond drill and placed in sealed core trays for transport to Magna's core facilities. Levack drilling utilizes NQ sized core and McCreedy West utilizes BQTK sized core. The core is then logged, and samples marked in intervals of up to 1.5m. Levack drill core is split and sampled ½ core, and McCreedy west is whole core sampled. Samples are then put into plastic bags with 10 bagged samples being placed into rice bags for transport to Swastika Laboratories in Kirkland Lake Ontario via Gardewine Transport for preparation and analysis. Samples are submitted in batches of 50 with 5 QA/QC samples including, 2 certified reference material standards, 2 samples of blank material and 1 lab duplicate.

Cautionary Statement on Forward-Looking Statements

All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology, such as "may", "might", "potential", "expect", "anticipate", "estimate", "believe", "could", "should", "would", "will", "continue", "intend", "plan", "forecast" or other similar words or phrases or variations thereof. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements, including risks and uncertainties relating to the failure of additional drilling to support production planning, additional definition or expansion of resources, the failure to proceed as quickly as planned with additional exploration drilling, continued delays for assay results and other risks disclosed in the Company's most recent annual management discussion and analysis. Although the Company has attempted to identify important risks, uncertainties, contingencies and factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements, there can be no certainty or assurance that the Company has accurately or adequately captured, accounted for or disclosed all such risks, uncertainties, contingencies or factors. Readers should place no reliance on forward-looking statements as actual results, performance or achievements may be materially different from those expressed or implied by such statements. Resource exploration and development, and mining operations, are highly speculative, characterized by several significant risks, which even a combination of careful evaluation, experience and knowledge will not eliminate. Forward-looking statements speak only as of the date they are made. The Company does not undertake to update any forward-looking statements, whether as a result of new information or future events or otherwise, except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

About Magna Mining Inc.

Magna Mining is a producing mining company with a portfolio of copper, nickel and PGM operating, exploration and development projects in the Sudbury Region of Ontario, Canada. The Company's primary assets are the producing McCreedy West copper mine and the past producing Levack, Podolsky, Shakespeare and Crean Hill mines. Additional information about the Company is available on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.magnamining.com).

For further information, please contact:

Jason Jessup
Chief Executive Officer

or

Paul Fowler, CFA
Senior Vice President
705-482-9667
Email: info@magnamining.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255012

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