Magna Mining Inc. - MGMNF STOCK NEWS

Magna Mining held its Annual & Special Meeting of Shareholders on June 28, 2024. Key outcomes included the election of board members Jason Jessup, Carl DeLuca, John Seaman, Vernon Baker, Jonathan Goodman, and new addition Shastri Ramnath. Ms. Ramnath, CEO of Exiro Minerals and Chair of Orix Geoscience, brings 25 years of experience in nickel exploration and leadership roles.

Shareholders approved all resolutions, including the appointment of auditors, the reconfirmation and approval of the stock option plan, and the amended restricted share unit plan. The meeting also confirmed the prior grant of restricted share units under the amended plan, as detailed in the Management Information Circular dated June 3, 2024.

Magna Mining announces positive assay results from its Crean Hill project, highlighting substantial mineral yields. Key results include 0.4% Ni, 0.5% Cu, and 34.3 g/t Pt+Pd+Au over 4.1 meters from surface samples. Notably, drilling in the 109 Footwall (FW) Zone revealed 0.2% Ni, 0.2% Cu, and 18.2 g/t Pt+Pd+Au over 15.0 meters. The company plans to commence a bulk sampling program, extracting 20,000 tonnes of ore to be processed at Strathcona Mill. This program aims to optimize metal recoveries and concentrate grades, providing valuable data for future mining operations. Revenue from the surface bulk sample is expected within six months of processing.

Additionally, advanced exploration plans include targeting high-grade zones for potential expansion. The drilling program defines the extent of mineralization and prepares Magna for underground exploration. This strategic move aligns with Magna's goal of enhancing resource estimation and overall project value.

Magna Mining has awarded Aki-eh Dibinwewziwin Partnership (ADLP) the contract for advanced exploration at the Crean Hill Project. ADLP is a joint venture between Atikameksheng Anishnawbek, Wahnapitae First Nation, and Technica Mining. CEO Jason Jessup emphasized the importance of local partnerships for minimizing costs and fostering strong community relations.

The exploration will start with a 20,000-tonne bulk sample from the 109 Footwall Zone in June 2024, followed by drilling in July and processing at Glencore's Strathcona facility. Dewatering is set to begin in Q3 2024. Magna Mining is also updating its Mineral Resource Estimate and Preliminary Economic Assessment, expected by Q3/Q4 2024. These updates aim to enhance the project's economic viability by focusing on a higher-grade, lower-production underground mining operation.

Magna Mining announced a Toll Milling Agreement with Glencore Canada for processing a 20,000-tonne surface bulk sample from the 109 Footwall Zone at the Crean Hill Project in Sudbury, Ontario. This agreement aims to advance the Crean Hill Project by evaluating metallurgical performance and corroborating resource estimates. This processing will occur at Glencore's Strathcona Mill and is expected to conclude in Q3 2024. Recent drilling results have shown promising mineralization, including 2.9% Cu, 0.9% Ni, and 9.5 g/t Pt+Pd+Au over 6.3 meters. This initiative follows a Definitive Offtake Agreement with Vale Canada, excluding the 109 FW Zone. The surface work will commence in June and will be funded from cash reserves.

Magna Mining (TSXV: NICU, OTCQB: MGMNF, FSE: 8YD) has scheduled its annual and special meeting of shareholders for June 28, 2024, at 10:00 a.m. (Toronto time). The meeting will take place at the company's offices in Sudbury, Ontario.

Key materials, including the management information circular and proxy documents, will be mailed to shareholders and available on SEDAR+ under the company's profile.

The Ontario Superior Court of Justice extended the deadline for Magna to call its next annual meeting to August 30, 2024.

Magna Mining Inc. reports positive diamond drilling results from the 109 Footwall Zone Surface Bulk Sample Area, including 0.9% Ni, 2.9% Cu, and 9.5 g/t Pt+Pd+Au over 6.3 meters. The company is advancing its surface bulk sample design following the completion of required permits, aiming to commence the program in the next few months. Additional drilling is ongoing to define mineralization at deeper levels, with the goal of extending high-grade core mineralization.

Magna Mining has received the Crean Hill Permit to Take Water, enabling advanced exploration and test mining. The permit allows dewatering of mine workings for surface bulk sampling and underground mining. The company plans to start the surface bulk sample in Q2 2024 and underground exploration in late 2024. Recent drilling results show high-grade mineralization in the 109 FW Zone. Magna aims to confirm mineralization continuity and de-risk the project through test mining. The company is fully permitted to proceed with its exploration plans.

Magna Mining Inc. announces promising drilling results from the 2024 exploration program at Crean Hill, showcasing high-grade core mineralization in the 109 Footwall Zone. The company also highlights the filing of the Crean Hill Closure Plan and the signing of the Definitive Offtake Agreement. Magna is well-positioned for further exploration and development activities in 2024.

Magna Mining Inc. (MGMNF) signs a Definitive Off-Take Agreement with Vale Canada for the Crean Hill Project, showcasing positive metallurgical test results and advanced exploration grades. The agreement includes initial production shipment to Vale's Clarabelle Mill in Sudbury, with high concentrate grades predicted. Magna is on track for underground test mining and future commercial production decisions, awaiting permit approvals for water dewatering. The company plans to update the Mineral Resource Estimate in Q2 2024, exploring non-equity funding sources for advanced exploration. RSU's were granted to the CFO, Ann-Marie Finney, in June 2023.