Magna Mining arranges $45-million private placement

Mr. Jason Jessup reports MAGNA MINING ANNOUNCES BROKERED LIFE OFFERING OF COMMON SHARES FOR GROSS PROCEEDS OF UP TO $45 MILLION Magna Mining Inc. has entered into an agreement with Canaccord Genuity Corp., as lead agent and sole bookrunner on behalf of a syndicate of co-lead agents including Desjardins Securities Inc. and SCP Resource Finance LP, in connection with a best effort private placement offering of up to 18.75 million common shares of the company at a price of $2.40 per offered share for aggregate gross proceeds of up to $45-million. The company has also granted to the agents an option exercisable, in whole or in part, up to 48 hours prior to closing of the offering, to sell up to an additional 2,083,300 offered shares at the offering price for additional gross proceeds of up to $4,999,920. The offered shares will be offered in each of the provinces and territories of Canada (other than Quebec) pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 (Prospectus Exemptions) as amended by co-ordinated blanket order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption). The offered shares may also be offered in the United States or to, or for the account or benefit of, U.S. persons, by way of private placement pursuant to exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended, and in other qualifying jurisdictions outside of Canada and the United States that are mutually agreed to by the company and the agents on a private placement basis pursuant to relevant prospectus and registration exemptions in accordance with applicable laws. Subject to the satisfaction of certain conditions under applicable Canadian securities legislation, the securities issued under the offering pursuant to the LIFE are not expected to be subject to a hold period in Canada under applicable Canadian securities legislation. There is an offering document related to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read the offering document before making an investment decision. The net proceeds of the offering will be used to advance the company's existing properties in Sudbury, Ont., and for general and administrative expenses and working capital purposes, as further described in the offering document. In connection with the offering, the company has agreed to pay the agents a cash commission equal to 5.0 per cent of the gross proceeds of the offering, subject to a reduction to 1.5 per cent in respect of certain sales to purchasers included on a president's list formed by the company and agreed to by the agents (up to a maximum of $15-million). Closing of the offering is expected on or about Sept. 19, 2025, or such other date as the company and agents may agree. Completion of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. About Magna Mining Inc. Magna Mining is a producing mining company with a strong portfolio of copper, nickel and platinum group metal 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. We seek Safe Harbor.