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Magna Mining Files Updated Preliminary Economic Assessment for the Crean Hill Project

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Magna Mining (TSXV: NICU) (OTCQB: MGMNF) has filed an updated independent technical report titled 'Preliminary Economic Assessment Update for the Crean Hill Project' in Sudbury, Ontario. The report, prepared by SGS Geological Services, is dated November 1, 2024, with an effective date of April 15, 2024. This filing follows the company's previous announcement from September 17, 2024, and has been submitted in accordance with National Instrument 43-101. The technical report is now available on SEDAR+.

Magna Mining (TSXV: NICU) (OTCQB: MGMNF) ha presentato un rapporto tecnico indipendente aggiornato intitolato 'Aggiornamento della Valutazione Economica Preliminare per il Progetto Crean Hill' a Sudbury, Ontario. Il rapporto, redatto da SGS Geological Services, è datato 1 novembre 2024, con data di efficacia del 15 aprile 2024. Questa pubblicazione segue l'annuncio precedente della società del 17 settembre 2024 ed è stata presentata in conformità con l'Instrumento Nazionale 43-101. Il rapporto tecnico è ora disponibile su SEDAR+.

Magna Mining (TSXV: NICU) (OTCQB: MGMNF) ha presentado un informe técnico independiente actualizado titulado 'Actualización de la Evaluación Económica Preliminar para el Proyecto Crean Hill' en Sudbury, Ontario. El informe, elaborado por SGS Geological Services, está fechado el 1 de noviembre de 2024, con una fecha de efectividad del 15 de abril de 2024. Esta presentación sigue al anuncio previo de la compañía del 17 de septiembre de 2024 y se ha presentado de acuerdo con el Instrumento Nacional 43-101. El informe técnico ya está disponible en SEDAR+.

마그나 마이닝 (TSXV: NICU) (OTCQB: MGMNF)는 온타리오 주 서드버리의 '크리안 힐 프로젝트에 대한 예비 경제 평가 업데이트'라는 제목의 업데이트된 독립 기술 보고서를 제출했습니다. 이 보고서는 SGS 지질 서비스에서 작성되었으며, 2024년 11월 1일자로 유효 날짜는 2024년 4월 15일입니다. 이번 제출은 2024년 9월 17일에 회사가 발표한 내용에 따른 것이며, 국가 규정 43-101에 따라 제출되었습니다. 기술 보고서는 현재 SEDAR+에서 확인할 수 있습니다.

Magna Mining (TSXV: NICU) (OTCQB: MGMNF) a déposé un rapport technique indépendant mis à jour intitulé 'Mise à jour de l'évaluation économique préliminaire pour le projet Crean Hill' à Sudbury, Ontario. Le rapport, préparé par SGS Geological Services, est daté du 1er novembre 2024, avec une date d'effet au 15 avril 2024. Ce dépôt fait suite à l'annonce précédente de la société du 17 septembre 2024 et a été soumis conformément à l'instrument national 43-101. Le rapport technique est désormais disponible sur SEDAR+.

Magna Mining (TSXV: NICU) (OTCQB: MGMNF) hat einen aktualisierten unabhängigen technischen Bericht mit dem Titel 'Aktualisierung der vorläufigen Wirtschaftlichkeitsstudie für das Crean Hill Projekt' in Sudbury, Ontario, eingereicht. Der Bericht, der von SGS Geological Services erstellt wurde, ist auf den 1. November 2024 datiert, mit einem Gültigkeitsdatum vom 15. April 2024. Diese Einreichung folgt der vorherigen Ankündigung des Unternehmens vom 17. September 2024 und wurde gemäß National Instrument 43-101 eingereicht. Der technische Bericht ist jetzt auf SEDAR+ verfügbar.

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Sudbury, Ontario--(Newsfile Corp. - November 1, 2024) - Magna Mining Inc. (TSXV: NICU) (OTCQB: MGMNF) (FSE: 8YD) (the "Company" or "Magna") is pleased to announce that further to its news release dated September 17, 2024 titled "Magna Mining Completes Updated Preliminary Economic Assessment of the Crean Hill Project" the Company has filed on SEDAR an independent technical report titled "Preliminary Economic Assessment Update for the Crean Hill Project, Sudbury, Ontario, Canada".

The technical report has been filed in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. A copy of the technical report is available under the Company's profile page at www.sedarplus.com.

The independent technical report is dated November 1, 2024, with an effective date of April 15, 2024, and was prepared by SGS Geological Services ('SGS').

About Magna Mining Inc.

Magna Mining is an exploration and development company focused on nickel, copper and PGM projects in the Sudbury Region of Ontario, Canada. The Company's flagship assets are the past producing Shakespeare and Crean Hill Mines. The Shakespeare Mine is a feasibility stage project which has major permits for the construction of a 4,500 tonne per day open pit mine, processing plant and tailings storage facility and is surrounded by a contiguous 180km2 prospective land package. Crean Hill is a past producing nickel, copper and PGM mine with a preliminary economic assessment technical report dated November 1, 2024. Additional information about the Company is available on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.magnamining.com). For more information, please contact:

Jason Jessup
Chief Executive Officer
or
Paul Fowler, CFA
Senior Vice President
Tel: 705-482-9667
Email: info@magnamining.com

Cautionary Statement

This press release contains certain forward-looking information or forward-looking statements as defined in applicable securities laws. Forward-looking statements are not historical facts and are subject to several risks and uncertainties beyond the Company's control, including statements regarding the closing of the Transaction, the ability to satisfy the closing conditions relating to the Transaction including receipt of all required third party consents and regulatory approvals, the production and exploration potential of the McCready West Copper Mine and related projects, the production at the Shakespeare and Crean Hill Mines, the economic and operational potential of the Shakespeare and Crean Hill Mines, potential acquisitions, plans to complete exploration programs, potential mineralization, exploration results and statements regarding beliefs, plans, expectations, or intentions of the Company. Resource exploration and development is highly speculative, characterized by several significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228645

FAQ

When did Magna Mining (MGMNF) file its updated PEA for the Crean Hill Project?

Magna Mining filed the updated Preliminary Economic Assessment for the Crean Hill Project on November 1, 2024.

Who prepared the technical report for Magna Mining's (MGMNF) Crean Hill Project?

The technical report was prepared by SGS Geological Services (SGS).

Where can investors find Magna Mining's (MGMNF) updated PEA for the Crean Hill Project?

The technical report is available under Magna Mining's company profile on www.sedarplus.com.

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