Magna Mining Announces Initial Mineral Reserves for the McCreedy West Mine in Sudbury, Ontario

Magna Mining has achieved a significant corporate milestone with the announcement of initial Mineral Reserves for its McCreedy West Mine in Ontario's Sudbury Basin. The company established Probable Reserves of 987,000 tonnes grading 1.59% copper, 0.32% nickel, 0.01% cobalt, plus platinum group metals and precious metals including 1.15 g/t platinum and 1.23 g/t palladium. These reserves are contained within the 700 Copper and PM Copper-PGE Zones and represent the first formal reserve statement since the mine was restarted in 2003.

The reserve estimate provides a three-year production profile based on current mining rates and follows the company's established guidance for 2026. The operation employs long hole stoping with unconsolidated rock backfill, targeting structural-controlled, chalcopyrite-rich veins ranging from less than one foot to over 10 feet in width. The technical parameters include appropriate dilution factors and 85% stope recoveries, with cut-off grades based on Net Smelter Return exceeding $180 per short ton in operating costs.

Beyond the reserves, Magna has established substantial Mineral Resources totaling over 6.5 million tonnes across Indicated and Inferred categories. The Indicated Resources comprise 5.6 million tonnes at 1.10% copper and 0.98% nickel, while Inferred Resources add another 874,000 tonnes at higher grades. This resource base provides significant potential for future reserve conversion and mine life extension well beyond the initial three-year profile.

For the broader Sudbury mining sector, this announcement reinforces the continued viability of the basin's polymetallic deposits and demonstrates successful mine restart capabilities. The combination of base metals with platinum group metals positions McCreedy West favorably in current commodity markets, particularly given the strategic importance of nickel and cobalt for battery applications and platinum group metals for clean technology applications. The company's confidence in converting additional resources to reserves suggests potential for sustained long-term production from this historic mining camp.