Magna Mining drills 28 m of 2.3% Ni, 0.7% Cu at Levack

Executive Summary

• Magna Mining reported near‑surface nickel‑copper intersections at the Levack mine, including a 2.3% Ni / 0.7% Cu intercept over 28 m and higher‑grade zones up to 6.6% Ni.
• The results support the Levack restart study by confirming wide, high‑grade nickel mineralization at shallow depths (≈135–155 m below surface).
• Ongoing surface diamond drilling and planned underground drilling aim to expand the resource base and define a conceptual ramp for future mining.

Key Details

• Hole MLV-25-21: 2.3% Ni, 0.7% Cu, 0.3 g/t Pt+Pd+Au over 28.0 m; includes 6.6% Ni, 0.7% Cu, 0.6 g/t Pt+Pd+Au over 2.4 m and 3.3% Ni, 1.0% Cu, 0.5 g/t Pt+Pd+Au over 12.4 m.
• Hole MLV-25-22: 2.4% Ni, 0.8% Cu, 0.3 g/t Pt+Pd+Au over 15.5 m; includes 3.2% Ni, 2.2% Cu, 1.4 g/t Pt+Pd+Au over 1.9 m.
• Intersections are located approximately 135–155 m below surface, confirming significant shallow‑depth nickel mineralization.
• Two surface diamond drills are active: one completing near‑surface infill and metallurgical holes on No. 1 & No. 2 zones; the second drilling footwall between No. 3 Ni‑Cu zone and Morrison Cu‑PGE deposit.
• Planned underground drilling: first underground drill to start within the current quarter; a second underground drill slated for Q4 2026, targeting deeper extensions of the No. 3 zone and the east side of the Fecunis fault.
• Historical hole FNX21200 intersected 33.4% Cu, 0.9% Ni, 23.9 g/t Pt+Pd+Au over 0.2 m, indicating a potential vertical vein system open in all directions.
• Additional historic intersection (hole MLV-25‑14A) previously reported 8.1% Ni, 2.6% Cu, 17.8 g/t Pt+Pd+Au over 0.6 m; follow‑up wedge drilling is underway with results pending.
• Assay data are summarized in the release’s Table 1 (assays) and Table 2 (hole collars).

Notable Quotes

“We are pleased to announce initial assay results from the near‑surface drilling on the No. 1 contact Ni‑Cu zones at the Levack mine… The intersections reported today confirm Magna's belief that there are significant areas of wide, high‑grade nickel mineralization at shallow depths remaining at the Levack mine.” – Dave King, Senior Vice‑President, Exploration and Geoscience

Qualified Person: David King, MSc, PGeo (SVP, Exploration & Geoscience) – NI 43‑101 qualified.
QA/QC: Core sampling follows industry‑standard procedures; samples shipped to SGS Laboratories for analysis with routine QA/QC inserts.