Magna Mining Expands High-Grade Mineralization at Levack Mine — Magna Mining Inc.

Event summary

Magna Mining intersected high-grade nickel, copper, and precious metals in the R2 Footwall Zone, including 9.5% Cu, 2.6% Ni, and 17.5 g/t Pt+Pd+Au over 2.1 meters.
Near-surface mineralization was discovered in the West Main Orebody, with 4.0% Ni, 1.7% Cu, and 3.5 g/t Pt+Pd+Au over 4.6 meters.
The Company commended the Government of Canada's Productivity Mega Deduction, which could improve the after-tax economics of its projects.
Magna expects to release the results of the Levack PEA and Crean Hill PFS in the first half of October 2026.

The big picture

Magna Mining's latest drill results highlight the potential for high-grade mineralization at its Levack Mine, which could strengthen its position in the Sudbury Basin. The Government of Canada's Productivity Mega Deduction may further enhance the economic viability of Magna's projects, aligning with broader trends in critical mineral development and tax incentives for the mining sector.

What we're watching

Resource Expansion: Whether the high-grade intersections in the R2 Footwall Zone and West Main Orebody can be expanded to support long-term production.
Economic Viability: How the Productivity Mega Deduction will impact the after-tax economics of Magna's projects, particularly the Levack PEA and Crean Hill PFS.
Development Timing: The pace at which Magna can advance underground development and infrastructure to support a potential restart decision at Levack.