Magna Mining intersects 6% Nickel at Crean Hill Project near Sudbury

Magna Mining Inc. has released additional assay results from the ongoing 2023 diamond drilling program. Drilling continues to intersect high grade nickel mineralization in the 101 Footwall ("FW") Zone and in a footwall zone between the 101 and 109 FW Zones, referred to as the 105 FW Zone, which intersected 6.0% Ni, 2.2 % Cu, 5.8 g/t Pt + Pd + Au over 2.2 metres. 

Highlights from the new assay results include:

• 105 FW Zone 

MCR-23-024: 6.0% Ni, 2.2 % Cu, 5.8 g/t Pt + Pd + Au over 2.2 metres 

• 101 FW Zone

MCR-23-020: 4.3% Ni, 0.4 % Cu, 1.7 g/t Pt + Pd + Au over 0.4 metres

And 11.2% Ni, 0.4 % Cu, 0.1 g/t Pt + Pd + Au over 0.4 metres

MCR-23-024: 5.1% Ni, 1.3 % Cu, 0.03 g/t Pt + Pd + Au over 0.8 metres

Dave King, SVP Technical Services, stated, "Diamond drilling is ongoing at Crean Hill, where two drill rigs remain active. The assays released today include results from our initial drilling within the 105 FW Zone, which is a high tenor nickel zone similar to the 101 FW Zone, and hosted within a footwall breccia structure trending southwest from the Main Contact Zone. Both the 101 FW and the 105 FW Zones have the potential to produce high grade nickel ore using selective mining methods. Although some of the assay intervals released today are narrow, this style of massive sulphide veins can pinch and swell over relatively short distances, and it is encouraging to see these zones extending beyond the current Mineral Resource models. Diamond drilling is ongoing in these areas, and we look forward to providing additional assay results as they are received."

Diamond drillhole assay results released today are from the 101 FW, 105 FW and 9400 FW Zones, and were designed to extend known mineralized zones beyond the current mineral resource models. Drillhole MCR-23-023 targeted the 9400 FW Zone, southwest of the known mineralization and intersected high-grade Pt+Pd+Au, low sulphide mineralization approximately 30 metres southwest of the current Mineral Resource.

Drillholes MCR-23-020, MCR-23-021 and MCR-23-024 were designed to test both the 105 FW Zone and the 101 FW Zone. The 105 FW Zone is similar to the 101 FW Zone (See news release dated March 2, 2023), and consists of high nickel tenor, semi massive to massive sulphide veins hosted within a breccia structure extending into the footwall from the Sudbury Igneous Complex ("SIC"). The footwall breccias are commonly associated with the mafic volcanic and metasediment contacts and can provide a structural corridor for sulphide mineralization to extend into the footwall environment of the SIC. Drilling to date has demonstrated good continuity of sulphide veins within the current mineral resource, and recent drilling has extended both of these zones beyond where they are currently modelled. The 105 FW Zone, trends into the footwall from the Main Zone, which was historically the main source of contact Ni-Cu mineralization at Crean Hill. The 105 FW Zone has historically been defined to the 1500 foot level, and remains a significant Mineral Resource with historical mining on only a few levels.

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