Magna Mining Inc. release additional assay results from the ongoing 2023 diamond drilling program at the Crean Hill Nickel Project ("Crean Hill"). A portion of the assay results represent confirmation of a shallow zone of massive sulphides in the vicinity of MCR-22-005 (released on January 5, 2023). This is one of the areas that the Company is planning to include as part of the advanced exploration and test mining program in 2024.

Two drillholes, MCR-23-041 and MCR-23-042, tested down-dip, to the north and south of drillhole MCR-22-005. Highlights from the new assay results include: 101 FW Zone. MCR-23-041: 3.0% Ni, 0.7% Cu, 1.2 g/t Pt + Pd + Au over 31.6 metres.

MCR-23-04 2: 4.2% Ni, 1.4% Cu, 1.0 g/t Pt + PD + Au over 27.6 metres. The 101 FW Zone consists of semi-massive to locally massive sulphide veins, hosted within a footwall breccia system, extending southwest into the footwall of the Intermediate Contact Zone. Drilling to date in the 101 FW has defined a wide, high grade, massive sulphide core, transitioning to massive sulphide veins along strike and down-dip, within the footwall breccia structure.

The advanced exploration program planned to commence in 2024 will provide underground drilling platforms allowing detailed definition of this zone, which has potential to provide high-grade, potentially mineable resources early in mine life, which was not represented in the recent PEA. In addition to the 101 FW drilling, four exploration drillholes were completed to better define the footwall breccia trends on the Crean Hill property. These holes confirmed the presence of footwall breccias trending southwest from the known 101 FW and 109 FW Zones.

The Company did not expect to intersect mineralization in these holes, only to test for the presence of footwall breccias deep in the footwall rocks. These Sudbury breccias are an important exploration criterion as they represent a potential pathway for mineralization into the footwall and are the primary lithology that hosts high-grade footwall deposits in Sudbury. Geological interpretation based on the results of these holes will be used to refine the position of deeper geophysical platform exploration drillholes, targeting potentially mineralized footwall breccias at depth.