Magna Mining Inc. announced additional assays received from the November 2022 drill program at Crean Hill. Drillhole MCR-22-005 was designed to follow up on previously announced high grade nickel mineralization intersected in the 101 Footwall ("FW") Zone in drillhole MCR-22-003. Hole MCR-22-005 intersected mineralization grading 4.0 % Ni, 0.7 % Cu, 0.7 g/t Pt+Pd+Au over 31.1 metres, including two massive sulphide intervals grading 6.5 % Ni, 1.0 % Cu, 0.5 g/t Pt+Pd+Au over 5.0 metres, and 5.7 % Ni, 0.7 % Cu, 0.8 g/t Pt+Pd+Au over 16.1 metres.

Diamond drilling for the 2023 drill program at Crean Hill is scheduled to resume January 9, 2023, with 15,000 metres of drilling currently budgeted for the full year. In 2022, four drillholes, MCR-22-003 to MCR-22-006, targeted the 101 FW zone below historical mining. This area was not a focus of previous Lonmin Canada Inc. ("Loncan") drilling as it is not considered a low-sulphide, high PGE system.

The 101 FW Zone consists of disseminated to locally massive sulphide, hosted within a footwall breccia system, extending southwest into the footwall of the Intermediate Zone. Sudbury footwall orebodies are commonly hosted within breccia systems, and often are elevated in Ni, Cu and PGE mineralization, relative to typical Sudbury Igneous Complex (SIC) contact mineralization. Drillhole MCR-22-005 was targeted above previously released drillhole MCR-22-003, and intersected significant massive sulphide intervals of high grade nickel mineralization.

A zone of lower sulphide mineralization with increased precious metals, grading 0.2 % Ni, 0.2% Cu, 1.3 g/t Pt+Pd+Au was also intersected below the massive suphide zone. The 101 FW Zone breccia system remains open for exploration and expansion to the southwest and down-dip of the historical mining. The technical information has been reviewed and approved by David King, M.Sc., P.Geo.

Mr. King is the Senior Vice President, Technical Services for Magna Mining Inc. and is a qualified person under Canadian National Instrument 43-101. 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, and samples marked in intervals of up to 1.5m and cut with a diamond saw. Samples are then bagged in plastic bags with 10 bagged samples being placed into rice bags for transport to AGAT Laboratories. 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 duplicate.