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Magna Mining

TSXV:nicuLive AI agent

Magna Mining is a producing mining company co-founded in 2016 by Jason Jessup, focusing on copper, nickel, and PGM projects in the Sudbury Region of Ontario, Canada.

Investor website: https://magnamining.com/

About

Magna Mining is a producing mining company co-founded in 2016 by Jason Jessup, focusing on copper, nickel, and PGM projects in the Sudbury Region of Ontario, Canada. The company’s primary assets include the McCreedy West copper mine and several past producing mines. The Sudbury region is a significant contributor to mineral development in Canada, known for its Class 1 Nickel production and extensive mining infrastructure.

Verified company data

Cash position
C$140,000,000
Shares outstanding
249,484,161
Fully diluted shares
263,528,397
Mineral resource
The PEA potentially mineable resources are a subset of the current Crean Hill Mineral Resource Inventory (Table 7). Appropriate mining dilution and recoveries were applied to the design stopes depending on mining method used. Allan Armitage, Ph.D., P. Geo. of SGS Geological Services is an independent Qualified Person as defined by NI 43-101 and is responsible for the current Crean Hill MRE.
Projects
["Magna Mining Announces Acquisition of Patented Claims within the Shakespeare Project\n\nJune 8th, 2021, Sudbury, Ontario, Canada – Magna Mining Inc. (TSXV: NICU) (the “Company” or “Magna”) announces that they have signed a definitive agreement to acquire a 50% interest in eight (8) patented claims in Baldwin Township, the “Baldwin Copper Patents”, comprising 132.8 hectares of land (see Figure 1). Seven claims comprise both surface and mining rights, while the remaining claim is restricted to mining rights only. The 50% interest in these claims was acquired for $80,000 in cash and the vendor will retain a 1% Net Smelter Return (NSR) royalty. The acquisition is expected to close on or around June 18, 2021.\n\nFigure 1: Location of Baldwin Copper Patents within the Magna Mining Property Boundary\n\nMagna Mining CEO Jason Jessup stated: “The acquisition of the Baldwin Copper Patents is in line with our strategy to further consolidate the Shakespeare Property and acquire prospective properties that have potential synergies with our existing Shakespeare Mine project. The most recently reported diamond drilling on these claims was in the 1950’s. Ursa Major Minerals Inc. (a subsidiary of Magna Mining) flew an airborne VTEM survey in 2015, which identified a strong EM anomaly on the Baldwin Copper Patents. Follow-up work will be completed later in 2021. The claims are located 600m west of our Springer Showing where Magna samples have returned assays up to 7.97% Cu, 0.54 g/t Au and 27 gpt Ag on surface in 2018.”\n\n* Assay results from selected grab samples from Magna Mining’s 2018 Springer Showing prospecting\n\n| | | | | | | |\n| --- | --- | --- | --- | --- | --- | --- |\n| Sample | Easting (83) | Northing (83) | Cu (%) | Au (gpt) | Ag (gpt) | Co (%) |\n| 156001 | 439827 | 5131973 | 7.97 | 0.54 | 27 | 0.09 |\n| 156002 | 439827 | 5131973 | 7.36 | 1.06 | 24 | 0.14 |\n\nThese samples were grab samples submitted as part of a larger sample submission. This included one duplicate sample and three certified standard references. All QAQC samples were within acceptable ranges as per standard deviations defined by CDN Laboratories from whom the reference material was acquired from.\n\n**Qualified Person**\n\nThe technical information in this press release has been reviewed and approved by Marshall Hall, M.Sc., P.Geo, the Company’s Exploration Manager. Mr Hall is a qualified person under Canadian National Instrument 43-101.\n\n**About Magna Mining Inc.**\n\nMagna Mining is an exploration and development company focused on nickel, copper and PGM projects in the Sudbury Region of Ontario, Canada. The Company’s flagship asset is the past producing Shakespeare Mine which has major permits for the construction of a 4500 tonne per day open pit mine, processing plant and tailings storage facility and is surrounded by a contiguous 180km2 prospective land package. Additional information about the Company is available on SEDAR (www.sedar.com) and on the Company’s website (www.magnamining.com)."]
Leadership
Jason Jessup (CEO, MBA with extensive experience in mining and corporate governance. Previously served in various leadership roles in the mining sector.), John Seaman (Director, ICD.D with over 22 years of experience in the mining industry, currently the Lead Director of Premier Gold Mines and chairs the audit and compensation committees.), Jeff Huffman (Chief Operating Officer, with a strong background in mining operations and management, previously President and COO of Dumas Contracting Ltd.), Jonathan Goodman (Non-Executive Director, President and CEO of Dundee Corporation with over 30 years of experience in the resource and investment industry, previously CEO of Dundee Precious Metals.)

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