Jason Jessup

I think really important and it's a unique aspect of Sudbury. It's a very polytallic camp where we have seven payable metals and, you know, and that's not just marginally payable.

we don't need a a super high nickel price to make this project work because we have seven payable metals

Sudbury is very poly metallic. There's a lot of nickel, there's a lot of copper, a tremendous amount of precious metals. Um, that's platinum, platium, gold, and silver.

this just this week we put out, you know, a number of drill holes that had multiple intersections at 25% copper plus PGMs and a bit of nickel.

we've already made one discovery of high-grade copper PGM mineralization at our LVAC project.

So now we sit with over 500 square kilometres of prospective ground and permitted projects here in Sudbury.

we made a discovery of a new zone that we're still you know expanding and delineating on called the R2 zone at LVAC. Um had some spectacular results. Super high-grade copper and precious metals in the foot wall underneath our number three or body at LVAC mine.

And that is what we're focusing on right now. And yeah, that's why we're mining so much copper. And it's a great opportunity to discover more of it. So we're drilling to find more of these high-grade copper deposits.

we have an additional six million tons of resource um that we can continue to drill convert resource to reserve and extend those reserve life

Our Crane Hill project again fully permitted past producing Inco 18 million ton indicated resource.

this was a past producing Inco mine um developed in the 1970s, operated up until the mid-1990s by Inco, produced about 15 million tons of ore from underground

So now we sit with over 500 square kilometres of prospective ground and permitted projects here in Sudbury.

It has uh three foot wall deposits that have resourced right now. And these footwell deposits are very rich in copper. Um typically, you know, historically mined at 10% copper and 10 g of platinum plating gold.

it's not the biggest mine and it will never be our biggest mine. Um you know, I think when we look in the future, it will be one of our smallest mines. But a long-term producer and I think has, you know, a lot of potential to produce for a long time into the future. Typically is producing in that range of 1,000 tons a day and in line with our guidance

at anywhere between, you know, 750, $8 US a pound nickel, like those are good prices for our project

the only debt we really have on the books is a $24 million convertible debenture um that we entered into in 2025

amount of capital that would need to be invested bring it into production, but already having a lot of that sunk capital and existing infrastructure already in place.

Um that we entered into earlier this year.

ully uh we believe we have the cash on hand as well as cashmere to do that at LVAC mine and get lavac up and running. Um and then the cash flows from Lvac and McCreaty West

our cash as of the end of Q3 was the last time we reported was 63 million

Uh we have uh at the end of Q1 $38 million in the bank ramping up our first copper mine uh this year

So, it's a 4-year uh term uh the 10% coupon um that we can force convert um next year after 2 years if our share price is above $3

We did announce back about a month ago um that the provincial government has issued a letter recognizing Magna as one of the strategic critical mineral companies in Ontario and urging the federal government to invest alongside them

So our McCr... West mine our operating mine uh it has we just put out three-year reserve life um and that has been what McCr... West has had since FNX restarted in 2003.

We completed a PA in 2024 that showed a 13-year mine life at 2200 tons a day.

the big highlight was at the end of uh February in 2025, um announcing the closing of our acquisition of producing McCree West Copper Mine.

we started the year 2025 at 25 employees. Um we ended now I think just over 200 employees.

we also made another acquisition last summer of a number of exploration properties from Northx Nickel here in Sudbury.

We continue to drill that at four drills turning right now.

the restart of LVAC mine. Then we look towards 2027 sometime at a potential restart of Crane Hill and then the Pendolski mine in 2028.

So it is a mine that can be restarted very very quickly post uh a PEA and and those make those decisions later this year.

We closed the acquisition in March of uh of 2025. So, we've been operating this for just 1 year now.

So 2026 will be a cash flow positive year for the mine and I think we were very successful at doing that.

We're currently in the process of completing a PFS and post that PFS we'd be in a position then to make a construction decision and again that's expected uh the PFS will be completed by the end of Q3.

Now, LVAC is uh currently underway with a PA and that'll be completed in Q3.

ane Hill, our PFS sort of non-negotiable. We need to get that done in a timely matter which will probably be around that same time frame looking somewhere towards um end of Q2 or we're in Q3 to get that PFS out.

Magna is focused on advancing and consolidating high-grade copper and nickel assets in Ontario's Sudbury Basin

Magna Mining and Magna is a base metal and precious metal producer focused on the Sudbury mining camp.

Magnum Mining is a copper producing company with a portfolio of permitted projects in the Sudbury basin of Ontario, Canada.

Magna Mining and Magna is a base metal and precious metal producer focused on the Sudbury mining camp.

Magnum Mining is a copper producing company with a portfolio of permitted projects in the Sudbury basin of Ontario, Canada.

And we have four other fully permitted past producing mines in Sudbury along with a large portfolio of exploration properties.

I started my mining career almost 30 years ago now and uh I've been in Sudbury for about 26 years and that's where all of our projects and operations are located. I worked with Inkco and I spent six years with FNX Mining.

I worked previously um and many of our team with a company called FNX Mining and FNX acquired five past producing Inco mines in Sudbury back in 2002. And then um from 2003 to 2010, restarted three of those mines and uh was the actually the most successful company and the best performance on the TSX from 2000 to 2010... were merged with Quadra in 2010 for with a $1.8 billion valuation

So I've been in Sudbury for 25 years. I originally went there to work for a company called Inko, um, which is a a major Canadian mining company that was acquired in 2005 by Valet out of Brazil. I left Inkco in 2005, went to work for FNX. we were able to bring two more mines into production by 2010, and we were acquired for $1.5 billion. So, that's when I founded Magna in 2016.

I own uh about 10.4 million shares right now. Um I've never sold a share

Yeah, so um we have about 8% management and board that uh

part of it is from from years and years living here in Sudbury, working in these projects, these mines, along with a lot of the other people that work for Magna, having, you know, extensive familiarity with Sudbury projects.

with you know active mines and shafts and and permits already in place at many of our projects.

we would produce 10% copper quarter after quarter with 8 to 10 grams of precious metals and maybe one or two% nickel. Um, and that would be our typical grade that we would sell to the mill

when you're picking up these assets, you're going to inherit kind of legacy issues, right? You know, some some will be operational, some will be financial, some will be about, you know, process infrastructure and so forth.

So 70% of our revenues come from copper. Um so we have seven payable metals. Call it uh probably, you know, 8% uh platinum, 8% platium, about 4% gold.

uh our market cap right now is right around $600 million Canadian.

Um we are about a $365 million market cap company.

between management directors, Dundee, uh about 25%