Magna Mining continues to intersect High Grade sulphide

Magna Mining Inc. is pleased to provide additional drilling results from the 2024 exploration program at Crean Hill, targeting the near-surface advanced exploration area of the 109 Footwall (FW) Zone. Recent drilling is designed to define the high-grade core of the 109 FW Zone.

Highlights from the new assay results include:

• 109 FW Zone 

MCR-24-068: 0.7% Ni, 2.4 % Cu, 9.7 g/t Pt + Pd + Au over 26.3 metres

Including 3.2% Ni, 11.3 % Cu, 10.6 g/t Pt + Pd + Au over 4.4 metres

MCR-24-069: 0.3% Ni, 0.3 % Cu, 10.7 g/t Pt + Pd + Au over 28.5 metres

Including 0.9% Ni, 0.3 % Cu, 25.3 g/t Pt + Pd + Au over 7.8 metres

MCR-24-070: 1.6% Ni, 5.2 % Cu, 10.0 g/t Pt + Pd + Au over 17.1 metres

Including 2.5% Ni, 9.6 % Cu, 17.4 g/t Pt + Pd + Au over 6.8 metres

Dave King, SVP Technical Services stated, "Drilling at Crean Hill has continued to define the high grade, massive sulphide core of the 109 FW Zone, as well as the broader envelope of low sulphide, high precious metal mineralization. Massive sulphide veins continue to demonstrate good continuity, with drillhole intersections grading up to 2.5% Ni, 9.6% Cu and 17.4 g/t Pt + Pd +Au over 6.8 metres, and wider, precious metal intervals up to  0.3% Ni, 0.3 % Cu, 10.7 g/t Pt + Pd + Au over 28.5 metres (Figure 1 and 2). The next phase of near surface drilling on the 109 FW Zone, is designed to extend the strike of the current mineral resource to the south, where historical channel samples indicate low sulphide precious metal mineralization continues within the Sudbury Breccia unit."

In March 2024, Magna announced the filing of the Crean Hill Closure Plan (see news release) and the signing of the Definitive Offtake Agreement (see news release). As the Company awaits the approval of the final permit required for underground advanced exploration (the Permit to Take Water), these assay results are being incorporated into the design of the test mining program. Due to the relatively shallow depths (approximately 75-125 metres from surface), the drill intersection areas announced in this news release could be incorporated into a test mining plan and executed within 18 months of commencement of the program. 

In addition to the 109 FW drilling, one rig continues to complete footwall exploration drilling at Crean Hill. Prospective structures and lithologies including Sudbury Breccia units containing sulphides have been intersected. Several geophysical conductive anomalies have been identified and exploration drilling continues. A summary of Crean Hill assay results is presented in Table 1 and drillhole collars are presented in Table 2.

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