Magna Mining targets mid-2028 Levack mine restart after PEA shows after-tax NPV(7%) of C$ 227 million

• Magna Mining released a NI 43-101 PEA for restarting the fully permitted Levack underground mine in Ontario.
• Study outlines 7.3 years of commercial production from mid-2028, averaging 36.8 million lb payable CuEq annually at AISC US$ 3.71/lb.
• Base-case economics show after-tax NPV(7%) C$ 227 million, after-tax IRR 92.4%, payback 0.6 years.
• Initial capital estimated at C$ 70.1 million, offset by C$ 55.9 million pre-commercial cash flow, net initial funding C$ 8.6 million.
• Board authorized a production restart plan, with underground development and surface construction expected to ramp up in coming months.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Magna Mining Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202610080645PRIMZONEFULLFEED9841908) on October 08, 2026, and is solely responsible for the information contained therein.