Magna Mining Reports First Quarter 2025 Operating and Financial May 29, 2025, Sudbury, Ontario – Magna Mining Inc. (TSXV: NICU) (OTCQX: MGMNF) (FSE:8YD) (the “Company” or “Magna”) is pleased to report first quarter 2025 operating and financial results. Management will host a conference call tomorrow, May 30, 2025, at 08:00 a.m. EDT to discuss the results. All amounts are expressed in Canadian dollars unless otherwise indicated.

Highlights

The acquisition of a portfolio of base metal assets in the Sudbury basin from KGHM International closed on February 28, 2025.
The Company announced the closing of a $33.5 million private placement financing on March 5th, 2025.
The quarter included 1 month of production from the newly acquired McCreedy West Copper mine.
McCreedy West produced 790,000 lbs of copper equivalent payable in March. The total ore processed was 20,388 tonnes at an average grade of 3.01% copper equivalent.
End of period cash balance of $38.3 million.
Jason Jessup, CEO, commented:

“Q1 was a transformational quarter for our company, and we continue to execute on our strategy which is based on three pillars of growth; Production, Exploration and Acquisitions of non-core assets. Since the acquisition, we have been focused on optimizing the current operations at McCreedy West and during the rest of this year we will prioritise underground mine development for long term sustainability. We are pleased with the progress of our optimization initiatives at McCreedy West, and we believe that we now have the leadership, mining and maintenance talent and technical expertise to unlock the potential in this mine.”

Q1 2025 Operating and Financial Highlights

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