Results Include 0.4% Ni, 0.5% Cu, and 34.3 g/t Pt+Pd+Au Over 4.1 Metres, Starting at Surface

June 25, 2024, Sudbury, Ontario, Canada – Magna Mining Inc. (TSXV: NICU) (OTCQB: MGMNF) (FSE: 8YD) (“Magna” or the “Company”) is pleased to announce additional diamond drilling results and provide an update on the surface advanced exploration bulk sampling in the 109 Footwall (FW) Zone.

Highlights from the new assay results include:

109 FW Zone
MCR-24-077: 0.2% Ni, 0.2 % Cu, 18.2 g/t Pt + Pd + Au over 15.0 metres

109 FW Zone Surface Sample
MCB-24-037: 0.4% Ni, 0.5 % Cu, 34.3 g/t Pt + Pd + Au over 4.1 metres

MCB-24-042: 0.2% Ni, 0.1 % Cu, 13.8 g/t Pt + Pd + Au over 2.5 metres

MCR-24-052: 0.8% Ni, 2.9 % Cu, 5.9 g/t Pt + Pd + Au over 3.1 metres

MCR-24-053: 0.1% Ni, 0.2 % Cu, 8.3 g/t Pt + Pd + Au over 6.8 metres

Jeff Huffman, COO of Magna Mining commented, “With the Toll Milling Agreement* and contract for Advanced Exploration** now in place, Magna can commence site preparation in advance of extracting the surface bulk sample on the 109 Footwall Zone. The initial advanced exploration will include surface mining of approximately 20,000 tonnes of 109 Footwall bulk sample material that will be shipped to the Strathcona Mill for processing. This batch process will provide valuable information used for optimizing metal recoveries and concentrate grades, while facilitating additional metallurgical test work with the goal of maximizing value for lower sulphide, high precious metal ores. The final batch of assay results from the short-hole drill program is highly encouraging. This zone has a high-grade core with a broader, low-sulphide PGM halo and the test work and bulk sample will encompass both.”

*(See news release dated June 4, 2024) ** (See news release dated June 11, 2024)

Magna will mobilize equipment in preparation for the surface advanced exploration work at Crean Hill in the coming days and will be extracting approximately 20,000 tonnes of bulk sample material from the 109 FW Zone in Q3 2024. Magna expects to receive revenues from the surface bulk sample within 6 months of processing the bulk sample. see & read more on
https://magnamining.com/magna-mining-announces-new-assay-results-at-crean-hill-and-an-update-on-advanced-exploration/