Magna Mining intersects 29.7% copper equivalent over 3.4 m at Levack

SUDBURY, Ontario, June 22, 2026 (GLOBE NEWSWIRE) -- Magna Mining Inc. (TSXV: NICU) (OTCQX: MGMNF) (FSE: 8YD) (“Magna” or the “Company”) is pleased to provide the results of ongoing exploration and an update on activities at the past-producing Levack Mine, located in the North Range of the Sudbury Basin, Ontario, Canada (Figure 1). Recent drilling has continued to intersect significant copper-rich massive sulphide veins with high grade precious metals within the R2 Footwall Zone. Highlights of two additional wedge holes from surface and the first underground drill hole targeting the R2 Footwall Zone are summarized below and in Table 1.

Exploration of the R2 Footwall Zone continues in parallel with underground development and surface work at Levack Mine in anticipation of a restart decision in the second half of 2026 following completion of the Levack Preliminary Economic Assessment (“PEA”) in Q3. Highlights from the new assay results include: Dave King, SVP Exploration and Geoscience at Magna, stated, “Exploration drilling within the R2 Footwall Zone continues to intersect and define the high grade copper massive sulphide footwall vein system, including impressive precious metals with gold values up to 44.3 g/t over 1.5 metres. To date, fourteen drillholes have targeted the R2 Footwall Zone, with all holes intersecting copper and precious metals-rich mineralization.

The thicker down hole intercepts encountered in the MLV-26-14A W1-3 drillholes, including the 29.7% copper equivalent over 3.4 metres reported today, represent some of our highest grade-thickness intercepts to date. Near term drilling will focus on expanding the mineralization up-dip, with the goal of understanding the relationship of