Sudbury, Ontario--(Newsfile Corp. - December 18, 2024) - Magna Mining Inc. (TSXV: NICU) (OTCQB: MGMNF) (FSE: 8YD) ("Magna" or the "Company") is pleased to announce that it has entered into a definitive asset purchase agreement dated December 18, 2024 (the "Agreement") with NorthX Nickel Corp. ("NorthX") (CSE: NIX) to acquire a portfolio of base metals assets ("Sudbury Properties") located in the Sudbury Basin (the "Transaction").

Jason Jessup, CEO of Magna, stated "We are pleased to announce the acquisition of these exploration properties as we continue to grow our presence in the Sudbury Basin. The properties announced today compliment the currently owned and pending KGHM acquisition properties and our exploration team believes they have high potential for new discovery. Many of these properties are located in the footwall of known Sudbury deposits, within prospective geological environments and have not been thoroughly explored. This acquisition is another example of how we continue to execute our growth strategy in a capital efficient manner with minimal dilution to shareholders."

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