Magna Mining Inc. release additional assay results from a series of short, near surface drillholes immediately beneath the surface exposure of the 109 Footwall ("FW") Zone. The surface expression of this high grade PGM zone has been identified as a potential site for an exploration bulk sample in late 2023, which could be processed through a third-party mill in Sudbury. The technical assessments necessary for such a third-party milling agreement are already underway and are expected to conclude in Third Quarter 2023. Additionally, Magna is pleased to provide an update on the progress of the Preliminary Economic Assessment (PEA) that was initiated in Fourth Quarter 2022. The 109 FW Zone is considered a low sulphide, high-grade platinum, palladium and gold mineralized zone, hosted within a breccia system extending southwest from the historically mined Main Zone contact nickel /copper orebody. Results reported from the near surface portion of the 109 FW Zone are in addition to the initial assay results reported earlier this month. Drilling continues to intersect near surface, high grade precious metal mineralization, and improve the understanding of the distribution of mineralization within the footwall breccia. Magna to provide an update on the progress of the ongoing Preliminary Economic Assessment ("PEA"), which is nearing completion, and expected to be released in late July. The PEA base-case will consider Crean Hill as a stand-alone operation, with mineralization processed through one of the third-party mills in Sudbury. In Section 24 of the PEA, an alternative processing scenario will be evaluated, where Crean Hill material is processed through a future mill at Magna's Shakespeare Project. Sample QA/QC procedures for Magna have been designed to meet or exceed industry standards. Drill core is collected from the diamond drill and placed in sealed core trays for transport to Magna's core facilities. The core is then logged, with samples marked in intervals of up to 1.5m. Samples are then whole core sampled, bagged in plastic bags with 10 bagged samples being placed into rice bags for transport to AGAT Laboratories in Mississauga Ontario via Gardewine Transport. Designated holes
have been split with a core saw to retain representative samples. Samples are submitted in batches of 50 with 5 QA/QC samples including 2 certified reference material standards, 2 samples of blank material and 1 lab duplicate.