Magna Mining drills 1 m of 29.2% Cu at Levack mine

Mr. Jason Jessup reports MAGNA MINING INTERSECTS 29.2% CU, 0.9% NI, 53.0 G/T PT + PD + AU OVER 1.0 METRE, 140 METRES DOWNDIP OF PREVIOUS INTERSECTION BELOW THE NO. 3 ZONE AT THE LEVACK MINE IN SUDBURY, ONTARIO Magna Mining Inc. has provided an update on exploration activities and assay results from continuing exploration at the past-producing Levack mine, located in the North Range of the Sudbury basin, Northeastern Ontario, Canada. Drill hole FNX6083-W1 was drilled to test an area 140 metres below drill hole MLV-25-14A (see news release dated July 9, 2025) which intersected 2.6 per cent copper, 8.1 per cent nickel and 17.8 grams per tonne platinum plus palladium plus gold over 0.6 metre. Drill hole FNX6083-W1 intersected multiple mineralized intervals ranging from veinlets of copper-rich chalcopyrite and bornite, to more than one metre of massive chalcopyrite. Magna is referring to this target area in the footwall of the No. 3 zone as the Rob's 2 (R2) target. Highlights from the new assay results include: FNX6083-W1 12.8 per cent Cu (copper), 0.6 per cent Ni (nickel), 31.8 g/t Pt (platinum) plus Pd (palladium) plus Au (gold) over 2.6 metres; Including 29.2 per cent Cu, 0.9 per cent Ni, 53.0 g/t Pt plus Pd plus Au over 1.0 metres; And 25.5 per cent Cu, 1.8 per cent Ni, 26.3 g/t Pt plus Pd plus Au over 0.5 metre. Dave King, senior vice-president, exploration and geoscience, stated: "Prior to acquiring the Levack mine in Q1 of this year, we believed there remained the potential to discover another significant, high-grade copper, nickel and precious metal deposit in the footwall environment of the property. The drilling results announced in July from drill hole MLV-25-14A, combined with those released today which includes a subinterval of 29.2 per cent copper and 29.9 g/t gold, along with 15.8 g/t palladium, 7.3 g/t platinum and 0.9 per cent nickel over 1.0 metre, are encouraging and appear to confirm our belief that the prospective exploration environment at Levack remains underexplored. There are notable similarities in the geology and vein mineralogy intersected in our recent drilling with the upper levels of the Morrison Footwall Cu-PGE deposit. We will continue to leverage our experience in the discovery and understanding of the geological controls within the Morrison deposit to further advance the R2 exploration target. We are looking forward to providing additional assay results as we continue to define the extent of the R2 mineralization." There are currently two surface diamond drills operating at the Levack mine, one completing three shallow infill and metallurgical drill holes on the Main Ni-Cu zone in support of the Levack restart study and a second drill exploring the footwall environment between the No. 3 Ni-Cu zone and the Morrison Footwall Cu-PGE deposit, with another wedge hole targeting the area north of the intersections reported today. Recall, drill hole MLV-25-14A (reported on July 9, 2025) was targeted beneath the No. 3 Ni-Cu zone and was designed to test for subvertical mineralization, striking parallel to the Fecunis fault, based on Magna's geological interpretation of this area, and relationship of these structures to the geological controls on the Morrison deposit. Based on the results of MLV-25-14A and continued geological interpretation, historical drill hole FNX6083 was deepened to provide a geophysical platform and survey results from this hole confirmed Magna's interpretation of the mineralization in this area. Drill hole FNX6083-W1 was a wedge hole designed to test approximately 140 metres down dip of the nickel-rich veins in MLV-25-14A and successfully intersected significant intervals of disseminated to stringer copper mineralization and two massive chalcopyrite veins. The massive sulphide veins graded 29.2 per cent Cu, 0.9 per cent Ni, 53.0 g/t Pt plus Pd plus Au over 2.6 metres and 25.5 per cent Cu, 1.8 per cent Ni, 26.3 g/t Pt plus Pd plus Au over 0.5 metre. Assays are summarized in Table 1 and drill hole collar information is presented in Table 2. Morrison deposit geology and footwall copper-precious metals mineralization Mineralization intersected to date within the R2 target area shows similarities to the mineralogical trends seen in the upper levels of the Morrison Footwall Cu-PGE deposit, located approximately 600 metres to the southwest in the Levack mine. The Morrison deposit occurs vertically beneath the No. 7 Contact zone and was discovered by FNX Mining in 2005 and subsequently developed and mined until 2019. Similar to other copper and precious metals-rich footwall deposits along the North Range of the Sudbury basin, the massive sulphide veins of the Morrison deposit vary from less than one metre to more than six metres in thickness and consist of chalcopyrite, cubanite, pentlandite and millerite with high-grade precious metal values. The Morrison deposit has a distinct vertical mineralogical trend, transitioning from Ni-rich, pentlandite and pyrrhotite veins in the upper levels of the Rob's zone, to Cu-rich chalcopyrite veins that have increasing platinum, palladium, gold and silver concentrations at depth. The upper nickel-rich veins within the Rob's zone were commonly under one metre to two metres in thickness and under 150 metres in strike length. The relatively narrow, nickel-rich veins of the Rob's zone continued for approximately 150 metres down dip, before transitioning to narrow Cu-rich chalcopyrite dominated veins. The central portion of the Morrison deposit contained chalcopyrite veins up to approximately six metres thick, within mineralized areas extending over 250 metres along strike. The mineralogical zonation between the nickel-dominated veins in drill hole MLV-25-14A and the copper- and precious-metals-rich veins reported today in drill hole FNX6083-W1 from the R2 target area appears to be consistent with that seen in the Morrison deposit. Levack exploration plan Magna is focusing its near-term exploration program at the Levack mine on this prospective footwall environment, continuing to test the lateral and down dip extent of the R2 target and other high-priority Sudbury breccia units that have the potential to host copper- and precious-metals-rich footwall deposits. Initial drilling on the R2 target will be designed to confirm and refine the geological model and define the extent of mineralization. Down hole geophysical electromagnetic surveys will continue to help target drilling within the most conductive areas of the mineralized system. Drilling will ramp up at Levack over the remainder of the year with two underground diamond drills mobilizing within the coming weeks. Qualified person for technical information The scientific and technical information in this press release has been reviewed and approved by David King, MSc, PGeo. Mr. King is the senior vice-president, exploration and geoscience, for Magna Mining and is a qualified person under National Instrument 43-101. Quality assurance and control Sample QA/QC procedures for Magna have been designed to meet or exceed industry standards. Drill core is collected from the diamond drill and placed in sealed core trays for transport to Magna's core facilities. Levack drilling utilizes NQ sized core and McCreedy West utilizes BQTK sized core. The core is then logged, and samples marked in intervals of up to 1.5 metres. Levack drill core is split and sampled one-half core, and McCreedy West is whole core sampled. Samples are then put into plastic bags with 10 bagged samples being placed into rice bags for transport to SGS Laboratories in Garson, Ont., for preparation, which are then shipped to Lakefield, Ont., for analysis. Samples are submitted in batches of 50 with four QA/QC samples including two certified reference material standards and two samples of blank material. About Magna Mining Inc. Magna Mining is a producing mining company with a strong portfolio of copper, nickel and platinum group metals (PGM) assets located in the world-class Sudbury mining district of Ontario, Canada. The company's primary asset is the McCreedy West mine, currently in production, supported by a pipeline of highly prospective past-producing properties including Levack, Crean Hill, Podolsky and Shakespeare. Magna Mining is strategically positioned to unlock long-term shareholder value through continued production, exploration upside and near-term development opportunities across its asset base. 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