Magna Mining Announces Q3 Production Results

Rhea-AI Summary

Magna Mining (OTCQX: MGMNF) reported Q3 2025 production from McCreedy West: 75,173 short tons shipped at average grades of 1.52% Cu, 0.21% Ni, 0.42 g/t Pt, 0.53 g/t Pd, 0.22 g/t Au, and 10.78 g/t Ag. Underground development totaled 1,796 feet (≈24% increase vs Q2). Diamond drilling reached 15,361 feet and a third underground drill was mobilized in late September. The mine lost 11 shifts (≈6% available operating time) from compressed-air and power issues, delaying access to higher-grade stopes now expected in Q4.

Positive

• 75,173 short tons shipped in Q3 2025
• Underground development +24% versus Q2 (1,796 feet)
• Diamond drilling of 15,361 feet in Q3
• Third underground drill mobilized late September

Negative

• Loss of 11 shifts due to compressed-air and power failures
• ≈6% of available operating time lost in Q3
• Delayed access to higher-grade stopes now pushed to Q4

Sudbury, Ontario--(Newsfile Corp. - October 22, 2025) - Magna Mining Inc. (TSXV: NICU) (OTCQX: MGMNF) (FSE: 8YD) ("Magna" or the "Company") is pleased to announce Q3 2025 production results from the McCreedy West Mine, located in the North Range of the Sudbury Basin, northeastern Ontario, Canada.

Highlights

• During the quarter, McCreedy West produced 75,173 tons of ore at an average grade of 1.52% copper, 0.21% nickel, 0.42 g/t platinum, 0.53 g/t palladium, 0.22 g/t gold and 10.78 g/t silver.
• Underground development during the quarter totaled 1,796 feet, an increase of approximately 24% over Q2 of 2025.
• Diamond drilling at McCreedy West during the quarter totaled 15,361 feet.

Jeff Huffman, COO of Magna, stated, "The third quarter of 2025 was the second full quarter of production for the Company at the McCreedy West Mine. The team at McCreedy West worked safely to mine and ship 75,173 tons of ore to Vale's Clarabelle mill in Sudbury at an average grade of 1.52% copper, 0.21% nickel, 0.42 g/t platinum, 0.53 g/t palladium, 0.22 g/t gold and 10.78 g/t silver. Development remained a focus for the quarter, with 1,796 feet of capital and operating development accomplished by Magna development crews, bolstered with mining contractor development and rehabilitation services. The mine did encounter certain unexpected events during Q3 which impacted both production and development, including a failure in the underground compressed air system and several power related delays. These events resulted in a loss of 11 shifts of mine operations during the quarter. Our seven operating months at McCreedy West thus far have provided us with valuable knowledge for the prioritization of risk mitigation measures that will improve asset reliability moving forward. Overall, the progress made at McCreedy West was in line with our goal of setting up the mine for a strong 2026."

Quarterly production of 75,173 tons of ore represents an increase of 7.3% over Q2, despite the compressed air system failure and the power related delays which resulted in the loss of 6% of available operating time during the quarter. These events delayed access to higher grade stopes which are now expected to be mined in Q4. While underground development was also impacted by these events, development during the quarter of 1,796 feet represents an increase of approximately 24% over Q2, and is nearly three times the development completed during the first quarter of 2025. Since the Company, closed the acquisition of McCreedy West on March 1, 2025, catching up on underground development has been a priority and this initiative will continue for the balance of 2025 in order to provide increased production optionality and flexibility to support a more robust operating plan moving forward into 2026. Diamond drilling at McCreedy West during the quarter totaled 15,361 feet and in late September a third diamond drill was mobilized underground. With three rigs now operating at McCreedy West, diamond drill footage is expected to increase significantly during Q4 to support both our 12-month mine plan and longer-term planning.

Jason Jessup, CEO of Magna, stated, "This year marks Magna's transition from an exploration and development company to a highly efficient, sustainable mining operator. McCreedy West mine is already benefiting from the investment and focus we are providing, but the culture and process building will also be of benefit at our Levack and Crean Hill mines as they are advanced towards production. I am pleased with the progress that we are making in transitioning the McCreedy West Mine from an under-capitalized, non-core operation to a profitable and sustainable Canadian-owned mine."

Table 1: McCreedy West Mine Q3 2025 Tons Shipped and Grades¹

	Q3 2025
Short Tons Shipped	75,173
Copper Grade (%)  (contained)	1.52%
Nickel Grade (%)  (contained)	0.21%
Platinum (grams per tonne, g/t)  (contained)	0.42
Palladium (g/t)  (contained)	0.53
Gold (g/t) (contained)	0.22
Silver (g/t) (contained)	10.78

 

¹Grades for ore shipped during Q3 are preliminary in nature and subject to change upon final settlement with Vale's Clarabelle mill.

Qualified Person

The scientific or technical information in this press release has been reviewed and approved by David King, M.Sc., P.Geo. Mr. King is the Senior Vice President, Exploration and Geoscience for Magna Mining Inc. and is a qualified person under Canadian National Instrument 43-101.

About Magna Mining Inc.

Magna Mining Inc. 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.

Additional corporate and project information is available at www.magnamining.com and through the Company's public filings on the SEDAR+ website at www.sedarplus.ca.

For further information, please contact:

Jason Jessup - Chief Executive Officer

or

Paul Fowler, CFA - Executive Vice President

705-482-9667

Email: info@magnamining.com

Cautionary Statement on Forward-Looking Statements

All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology, such as "may", "might", "potential", "expect", "anticipate", "estimate", "believe", "could", "should", "would", "will", "continue", "intend", "plan", "forecast", "prospective", "significant" or other similar words or phrases or variations thereof. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, economic, technical and other risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements, including risks and uncertainties relating to the failure of additional drilling to support assumptions, expectations or estimates of potential mineralization, metal tonnes or grade, the failure of additional drilling to support additional expansion or delineation of estimated resources, the failure of additional drilling to support production planning, the failure to meet production, cost or development expectations, forecasts or guidance, the lack of availability of drill rigs to implement exploration or other programs or the failure to proceed as quickly as planned with additional exploration or other drilling, continued delays for assay results, the failure to bring the Levack and Crean Hill mines back into production, and other risks disclosed in the Company's annual management discussion and analysis, available on the SEDAR+ website (at: www.sedarplus.ca). Although the Company has attempted to identify important risks, uncertainties, contingencies and factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements, there can be no certainty or assurance that the Company has accurately or adequately captured, accounted for or disclosed all such risks, uncertainties, contingencies or factors. Readers should place no reliance on forward-looking statements as actual results, performance or achievements may be materially different from those expressed or implied by such statements. Resource exploration and development, and mining operations, are highly speculative, characterized by several significant risks, which even a combination of careful evaluation, experience and knowledge will not eliminate. Forward-looking statements speak only as of the date they are made. The Company does not undertake to update any forward-looking statements, whether as a result of new information or future events or otherwise, except in accordance with applicable securities laws.

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/271520

FAQ

What were Magna Mining (MGMNF) production grades in Q3 2025?

Q3 2025 average grades: 1.52% Cu, 0.21% Ni, 0.42 g/t Pt, 0.53 g/t Pd, 0.22 g/t Au, 10.78 g/t Ag.

How many tons did Magna (MGMNF) ship from McCreedy West in Q3 2025?

Magna shipped 75,173 short tons of ore to Vale's Clarabelle mill in Q3 2025.

How much underground development did Magna (MGMNF) complete in Q3 2025?

Magna completed 1,796 feet of underground development in Q3 2025, about 24% more than Q2.

What operational issues affected Magna (MGMNF) production in Q3 2025?

The mine experienced a compressed-air system failure and power-related delays, causing 11 lost shifts.

Will Magna (MGMNF) increase drilling at McCreedy West after Q3 2025?

Yes; a third underground diamond drill was mobilized in late September and footage is expected to rise in Q4.

Did the Q3 2025 disruptions affect access to higher-grade stopes for Magna (MGMNF)?

Yes; delays postponed access to higher-grade stopes, which are now expected to be mined in Q4 2025.