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Magna Mining Reports High Grade Surface Samples on the Baldwin near Sudbury

Sep 14, 2021

September 14, 2021) - Magna Mining Inc. (TSXV: NICU) ("Magna" or the "Company") is pleased to provide assay results from surface work on the recently acquired Baldwin Patents property, which is part of the Shakespeare Ni-Cu-PGM Project and located approximately 3 km south-east of the Shakespeare Mine. 

Initial surface mapping and sampling of these patented claims have identified sulphide mineralization on surface. Grab samples have returned values as high as 13.2% copper with 1.8 g/t gold as well as 7.1% copper with 6.2 g/t gold with anomalous cobalt and silver values.

Mynyr Hoxha, Vice President of Exploration, states, "The results of our initial field work on the Baldwin Patents have exceeded our expectations. This property was held for a number of decades by a major gold producer and the last known campaign of exploration was in the 1950's. The Baldwin Patents, along with the P-4, Springer and Spanish River regional targets, are all part of our regional exploration program that we are conducting this year. We believe that we have multiple, highly prospective targets across much of the 180 km2 land package that surrounds the Shakespeare Mine, and these initial results support our thesis that there are numerous portions of our project area that have the potential to host high grade deposits." 

The Baldwin Patents property is surrounded by the Shakespeare Project and was acquired as part of a consolidation of the southern portion of Magna's property package (as outlined in the June 8th, 2021 press release). Through airborne geophysics, an electro-magnetic ("EM") anomaly was identified east of the sampled area and was modelled into an EM plate. The presence of the EM plate to the east could suggest a stronger mineralized envelope that would extend further beyond the sampled region and along strike. According to the available records, this EM plate has never been drill-tested. 

The geology of the Baldwin Patents consists of Agnew Lake intrusion, Elliot lake group sediments, mafic intrusive, Huronian group metavolcanic-metasediments and Ramsay-Algoma intermediate granitoids (see Figure 1). The geology in this portion of the property is different than at Shakespeare, and it is believed to be more conducive to copper-gold styles of mineralization associated with shear zones and quartz veining.

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