Month: September 2026

VANCOUVER, British Columbia, Sept. 17, 2026 (GLOBE NEWSWIRE) — Xali Gold Corp. (TSXV:XGC) (“Xali Gold” or the “Company”) is pleased to announce the advancement of environmental, metallurgical and exploration programs at its Pico Machay Gold Project (“Pico Machay” or the “Project”) in Peru, together with the planned commencement of work on an updated mineral resource estimate and Preliminary Economic Assessment (“PEA”). These coordinated programs are designed to support the continued evaluation of Pico Machay and prepare the Project for future engineering, permitting and development.

Highlights:

• An experienced multidisciplinary engineering team has been assembled, with work now underway to simultaneously commence both an updated mineral resource estimate and a PEA;
• The Ficha Técnica Ambiental (“FTA”) approval process for the planned drilling program continues to advance following two technical meetings with Peru’s Ministry of Energy and Mines (“MINEM”), while preparations are underway for a public workshop with the local community;
• Three drilling contractors have submitted bids for the planned 3,000 metre (“m”) diamond drill program, which includes approximately 2,000 m of resource confirmation drilling; the Company is reviewing the bids and narrowing the field ahead of contractor selection.
• As part of initiating the EIA-d (“Detailed Environmental Impact Assessment”), a research-grade meteorological station has been purchased and installation is underway. This will support engineering and environmental studies and provide long-term monitoring through potential construction, operations and post-closure;
• A Phase 1 metallurgical program is planned to commence shortly, representing the first stage of a broader program designed to build on previous met work to support an updated feasibility study and potential development; and
• Fieldwork has resumed to follow up on high-grade gold results and priority exploration targets identified during the Company’s earlier 2026 sampling program.

“These programs demonstrate that we are moving Pico Machay forward with a clear focus on potential development,” stated Joanne Freeze, President and CEO of Xali Gold. “Our field team is launching a detailed mapping program to follow up on the encouraging high-grade results and new exploration targets generated earlier this year. The team has also recently completed the relogging of all previous reverse-circulation drill chips and is now building a 3D model of the mineralization. PEA work will advance in tandem with the resource confirmation drilling, allowing the new results and updated mineral resource estimate to be incorporated into the study as soon as they become available. The PEA will draw on the Feasibility Study released by Aquiline Resources in 2008, updated with the results of the Company’s current technical programs.”  

Xali Gold has assembled a multidisciplinary team to advance the PEA and support subsequent engineering work through feasibility, potential development, construction and production. Team members each bring more than 25 years of experience in mine development or operations in Latin America, including Peru. Their expertise spans mineral resource estimation, mining, metallurgy and processing, project economics, project finance, environmental studies and environmental, social and governance (“ESG”) considerations. This approach allows key components of the PEA to advance before and during the planned drilling program.

The multidisciplinary team already working on the Project includes Adam Johnston, FAusIMM, CP (Met), a metallurgist with Transmin Metallurgical Consultants; David Thomas, P.Geo., a mineral resource geologist; and Aran Gough, R.P.Bio, a registered professional biologist.

Xali Gold has also recently engaged Brent Cochrane, M.A., ICD.D., and Gordon Zurowski, P.Eng. Mr. Cochrane brings more than 40 years of international mining finance experience and has worked in Peru’s mining industry since 2001, including as Vice President, Finance and Administration of Compañía Minera Antamina S.A. His project financing experience in Peru includes the Antamina and Mina Justa copper projects.

Mr. Zurowski, Principal Mine Engineer with AGP Mining Consultants, has more than 30 years of mine operations and consulting experience focused on open-pit mine planning, financial evaluation and economic studies. His project experience includes Cuajone, Cañariaco Norte, Cerro Lindo, Magistral and Marcona in Peru, as well as Los Azules, Filo del Sol and Aurizona elsewhere in South America.

“By assembling the full team now, we can advance much of the mining, metallurgical, environmental and economic work before and during the resource confirmation drilling,” continues Ms. Freeze. “The updated resource will form the basis for the PEA, and doing the studies in parallel should shorten the timeline to complete the PEA. The long-term meteorological monitoring station and planned staged metallurgical program are also important steps in preparing the Project for its next phases of evaluation and advancement.”

Updated Mineral Resource Estimate and PEA

Approximately 2,000 m of the Company’s planned 3,000 m diamond drill program will twin selected historical reverse-circulation holes within the historical resource area. The drill hole twinning, together with the completed historical data compilation, drill-chip relogging and sampling, is intended to provide the additional information required to prepare an updated mineral resource estimate.

Development of an initial three-dimensional geological model using Leapfrog software is currently underway and is expected to be completed by the end of September 2026. The model will integrate the historical drilling, geological, analytical and topographic information with our team’s relogging work and approximately 40 interpretive cross sections. Detailed mapping will help refine the interpretation of the controls on mineralization and guide the upcoming resource confirmation drill program. The model will subsequently be updated as new drilling results become available and will support the preparation of the updated mineral resource estimate and PEA.

Exploration Permitting and Community Engagement

The FTA approval process for the planned drilling program at Pico Machay continues to advance. The Company has participated in two technical meetings with the Mining Environmental Directorate of MINEM, which provided additional guidance regarding recent modifications to the FTA process. These modifications include more deliverables from the Company, implemented to speed up the evaluation process.

Following those meetings, Xali Gold engaged Embellie Advisory LLC (“Embellie”) to assess considerations relating to indigenous or native members of the Santa Ana community, including any potential impacts of the planned drilling program on collective rights. Embellie will assist the Company to incorporate those findings into its FTA submission.

In parallel, the Company is organizing a MINEM-facilitated public workshop for the local community regarding the planned exploration program. The workshop is planned for early October and will provide an opportunity to explain and discuss the proposed work and laws and practices in place to protect community interests. This fits well with Xali Gold’s ongoing transparent engagement with the community surrounding Pico Machay. The Company plans to submit its FTA application approximately one week after the workshop is completed and, based on current guidance, expects a review and approval period of approximately 10 days following submission.

Initiation of EIA-d

Xali Gold is beginning environmental data collection to support the preparation of the EIA-d, the longest lead-time component of the permitting process for mining operations in Peru. As an initial step, the Company has purchased and is installing a new wireless Vantage Pro2 Plus meteorological station at Pico Machay. The research-grade station will collect site-specific information on wind speed, temperature, humidity, barometric pressure, rainfall, solar radiation and ultraviolet radiation, as well as related meteorological measurements.

The data will be used to validate and supplement regional information available from Peru’s National Service of Meteorology and Hydrology (“SENAMHI”). Correlating site-specific observations with the longer-term regional record will also help the Company estimate historical meteorological conditions at Pico Machay for the years preceding installation of the station.

The station is intended to form part of the Project’s long-term environmental monitoring infrastructure, supporting detailed environmental assessment and engineering design and, subject to the Project advancing, continuing through construction, operations, closure and post-closure monitoring.

Exploration Follow-up Underway

Ground exploration has resumed at Pico Machay, with the field team conducting detailed mapping and additional sampling to follow up on high-grade gold results and priority exploration targets identified during the Company’s surface and underground sampling program completed earlier in 2026.

Results from that program included 2.92 grams per tonne (“g/t”) gold (“Au”) over 31.5 m from Surface Channel 1, including 13.76 g/t Au over 4.5 m, within the historical resource area. In addition, 67 of 119 surface samples returned more than 0.50 g/t Au, helping the Company define and refine multiple exploration targets. Gold mineralization and alteration characteristic of a high-sulphidation epithermal system were also identified in underground workings across an area measuring approximately 1.35 kilometres by 0.83 kilometres. Refer to Xali Gold news release dated July 28^th, 2026 and titled “Xali Gold Continues to Demonstrate the Scale and Grade of Gold Mineralization at Pico Machay” for further details.

The current work is focused on further evaluating selected high-priority areas and improving the Company’s understanding of the distribution and controls of higher-grade mineralization. Results will be incorporated into the evolving geological model and used to support planning for the next phase of work at Pico Machay.

About Pico Machay

Located within the Southern Peru Epithermal Gold-Silver Belt, Pico Machay sits in a historically productive mining district in the Western Cordillera of the Andes (click here for location map). The Project benefits from existing infrastructure and a mining-friendly community eager to partner on sustainable development.

Xali Gold remains confident in the significant upside potential at Pico Machay, which hosts a historical resource and several untested exploration targets on the Project. Various historical engineering studies at Pico Machay were completed through 2009 and evaluated the potential for a low-cost, low strip-ratio, open-pit heap-leach operation. Given that those studies were based on a long-term gold price of $700/oz and several exploration targets remain untested, Xali Gold considers the upside potential to be very strong.

About Xali Gold

Xali Gold is a gold and silver exploration company focused on advancing opportunities in the Americas. The Company is focused on the exploration and development of Pico Machay, an advanced exploration-stage gold project in Peru with a near-term production goal. 

The Company’s approach to community engagement and responsible development is guided by strong governance principles and Board oversight that support long-term stakeholder relationships.

Joanne C. Freeze, P.Geo. is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the contents of this release.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

On behalf of the Board of Xali Gold Corp.

“Joanne Freeze” P.Geo.
President, CEO and Director

For further information please contact:
Joanne Freeze, President & CEO                                
Tel: + 1 (604) 512-3359                                                                 
info@xaligold.com                

Forward-looking Disclaimer
This press release contains forward-looking information within the meaning of Canadian securities laws (“forward-looking statements”). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements.

Forward-looking statements in this press release include, without limitation, statements regarding: the timing and completion of contractor selection; the timing of the planned public workshop and submission and approval of the FTA, if at all; the commencement, scope, timing and completion of the planned 3,000 m diamond drill program; the timing and completion of the three-dimensional geological model; the preparation and timing of an updated mineral resource estimate and PEA, including the anticipated benefits of advancing the related studies in parallel; the timing, scope and results of the planned metallurgical, mapping and sampling programs; the installation and use of the meteorological station; the preparation of the EIA-d; and the continued advancement and potential development, construction, operation and production of the Project.   These forward-looking statements are made as of the date of this press release. Although the Company believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements.

Known risk factors and assumptions include risks associated with exploration and project development; accessing further funding and related dilution: continuing its projected growth, or being fully able to implement its business strategies; the calculation of mineral resources and additional work required to convert historical resources to current mineral resources; the nature, quality and quantity of any mineral deposits that may be located on the project; operational risks associated with mining and mineral processing; fluctuations in metal prices and assumptions including costs; title matters; government regulation; obtaining and renewing necessary consents, authorizations, licenses and permits; environmental liability and insurance; reliance on key personnel; local community opposition; currency fluctuations; labour disputes; competition; variations in market conditions, and the volatility of our common share price and volume; future sales of shares by existing shareholders; and other risk factors described in Xali Gold’s MD&A and other filings with Canadian securities regulators, which may be viewed at www.sedarplus.ca. Although we have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.

There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Xali Gold expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

LONDON, Sept. 17, 2026 (GLOBE NEWSWIRE) — Facultative reinsurance is helping insurers pursue growth opportunities in a rapidly softening market, enabling them to maximize available capacity and expand into new geographies while managing an increasingly complex risk landscape. That’s the conclusion of a new Facultative Reinsurance Report 2026 published today by Willis, a WTW business (NASDAQ: WTW).

The report, conducted in partnership with Coleman Parkes Research, received responses from 380 senior decision makers at leading insurance companies across North America, Europe, Middle East, APAC and Latin America.

The findings show that growth and global expansion are among insurers’ top priorities as they seek to deploy the large reserves of capital built up during the hard market. In addition, the survey shows that:

• More than half (52%) of insurers identified capital management as a key reason for buying facultative reinsurance, up from 44% in 2024.
• 56% said global expansion was among their greatest opportunities in the next two years (up from 39%), indicating an increase in insurers writing business overseas to drive growth.
• 52% named entering new markets and risk areas among their top strategic objectives over the next two years, up from 45% in our previous survey, while 55% named increasing capacity as a top objective, up from 48%.

The results confirm the trend identified in the 2024 survey that facultative insurance is no longer viewed only as a defensive position to protect against problem risks but also as a flexible tool to support business priorities such as expansion, while also managing risk and volatility.

• 60% of insurers expect to increase their use of facultative reinsurance over the next two years, compared with just 13% who plan to buy less, highlighting its growing importance across the market cycle.
• 82% saw facultative as a key part of their strategies for managing risk, capacity, capital and appetite, while only 22% said they used facultative as a last resort, down from 28% in the 2024 survey.

The report also highlights growing concern around emerging risks, including geopolitical tensions, cyber threats and climate-related exposures, which could begin to alter the current market dynamics.

• 57% cited geopolitics among the emerging risks they are most concerned about, up from 52%, while 54% said cyber, up from 24%, and 40% climate, up from 30%.

Garret Gaughan, Global Head of Direct and Facultative at Willis said: “While market conditions are creating significant opportunities for growth, insurers remain aware of the risks that could quickly present themselves. Our research shows that facultative reinsurance is increasingly being used as a strategic tool to help insurers expand their capacity, enter new markets and manage capital efficiently. At the same time, it provides valuable flexibility as organisations navigate uncertain times.”

The survey report can be downloaded here.

About the survey

The survey was conducted between February and March 2026 and included 380 senior decision makers from leading insurance companies, including C-suite executives, vice presidents, and heads of property and casualty (P&C). Company size was distributed as follows: 47% with GWP of $1 billion-$5 billion, 35% with GWP of $5 billion-$10 billion, and 19% with GWP of $10 billion or more.

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.

Media Contacts
Jo Barrett
Jo.Barrett@wtwco.com

Lauren David
Lauren.David@wtwco.com

SUDBURY, Ontario, Sept. 17, 2026 (GLOBE NEWSWIRE) — Magna Mining Inc. (TSX: NICU) (“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). Results released today include additional assays from expansion drilling of the R2 Footwall Zone, delineation drilling at the Intermediate Orebody, as well as initial drilling of the near-surface extension of the West Main Orebody (Figure 2).

Highlights from the new assay results include:

R2 Footwall Zone:

FNX2038A W1 And

9.5% Cu, 2.6% Ni, 17.5 g/t Pt+Pd+Au, 24.9 g/t Ag (23.5% CuEq) over 2.1 metres, from 999.2 metres down hole 15.4% Cu, 1.9% Ni, 7.0 g/t Pt+Pd+Au, 43.0 g/t Ag (19.1% CuEq) over 0.7    metres, from 1068.6 metres down hole

     
West Main Orebody: 

MLV-26-64 MLV-26-68 Including And

1.7% Cu, 4.0% Ni, 3.5 g/t Pt+Pd+Au, 4.1 g/t Ag (8.3% CuEq) over 4.6 metres,  from 198.7 metres down hole 0.4% Cu, 1.7% Ni, 0.4 g/t Pt+Pd+Au (2.9% CuEq) over 32.9 metres, from 177.0 metres down hole 0.2% Cu, 3.2% Ni, 0.1 g/t Pt+Pd+Au (4.7% CuEq) over 3.2 metres 1.0% Cu, 2.9% Ni, 1.9 g/t Pt+Pd+Au (5.5% CuEq) over 3.8 metres

Dave King, SVP Exploration and Geoscience at Magna, stated, “The R2 Footwall Zone continues to provide impressive results such as hole FNX2038A-W1 which returned five distinct veins, including 9.5% Cu, 2.6% Ni, 17.5 g/t Pt+Pd+Au, and 24.9 g/t Ag (23.5% CuEq) over 2.1 metres, and has continued to extend the zone towards the No.3 Orebody. The focus at R2 has now shifted to drilling from new underground platforms on the 2950 level with shorter drillholes and increasing the intersection frequency. In addition, we are excited to see thick, high grade intersections from initial surface drilling at the West Main Zone, including 0.4% Cu, 1.7% Ni, 0.4 g/t Pt+Pd+Au (2.9% CuEq) over 32.9 metres in drillhole MLV-26-68 and 1.7% Cu, 4.0% Ni, 3.5 g/t Pt+Pd+Au (8.3% CuEq) over 4.6 metres in drillhole MLV-26-64. This recent drilling has expanded this zone towards surface and could provide significant nickel-copper-precious metals-rich mineralized material early in the production profile upon a positive restart decision. Of particular interest is the increased copper and precious metal grades in hole MLV-26-64 which could indicate the potential for shallow, footwall style mineralization associated with this part of the Main Orebody, similar to the Keel, Morrison and R2 Footwall Zones.”

Table 1 summarizes the significant assay results received since the last Levack exploration results update (see news release dated June 22, 2026). Two surface drill rigs and three underground rigs have been active at Levack at various times during the past several months. Surface drill rigs have targeted both the R2 Footwall Zone as well as the upper western extension of the Main Orebody above historical mining. Underground drills have focused on continued drilling within the R2 Footwall Zone and the Intermediate Orebody from the 8450 Level exploration drift. Most recently, development of the 2950 Level exploration drift was completed in early August and two rigs are now active on this level, one completing infill definition drillholes within the R2 Footwall Zone and a second drilling exploration holes to test a geophysical target located between the R2 Footwall Zone and the Morrison Footwall Cu-PGE Deposit.

Today’s drill results from the R2 Footwall Zone are focused on the upper portions of the known mineralization to better define the veins and understand the relationship to the No.3 Orebody (Figure 3). They include assays from an additional three wedge holes drilled from surface, each of which intersected multiple mineralized veins. Drillhole FNX2038A-W1 intersected five distinct veins over 91.5 metres including 9.5% Cu, 2.6% Ni, 17.5 g/t Pt+Pd+Au, and 24.9 g/t Ag (23.5% CuEq) over 2.1 metres from 999.2 metres down hole and successfully expanded Magna’s drilling of the R2 Footwall Zone veins by approximately 30 metres towards the No.3 Orebody which is situated approximately 75 metres up dip. The R2 Zone remains open up dip towards the No. 3 Footwall Zone as well as at depth to the south. Since the completion of the 2950 Level exploration drift, drilling from this new underground platform has targeted the copper-precious metal veins of the R2 Footwall Zone at the approximate elevation where the 2950 Level would intersect the Zone, in preparation for a potential decision in early Q4 to advance development by an additional 300 metres to provide underground access to the R2 Footwall Zone.

Today’s results from the Intermediate Orebody are from underground drill holes completed on the 8450 Level prior to the completion of development into this zone. Production from this area of the Intermediate Orebody could begin immediately upon a positive restart decision. Further definition and expansion drilling is underway within other areas being considered for early production in the Preliminary Economic Assessment (“PEA”), including the upper western portion of the Main Orebody (Figure 4). Significant widths of high grade nickel contact-type mineralization have been intersected in the initial drilling, including 1.7% Cu, 4.0% Ni, 3.5 g/t Pt+Pd+Au, and 4.1 g/t Ag (8.3% CuEq) over 4.6 metres from 198.7 metres down hole in drillhole MLV-26-64 and 0.4% Cu, 1.7% Ni, 0.4 g/t Pt+Pd+Au, (2.9% CuEq) over 32.9 metres from 177.0 metres down hole in drillhole MLV-26-68. These drill results from the West Main Orebody are located within 150 metres of surface and additional drilling is planned to test the up-plunge extension of this zone, as well as to investigate the potential for shallow, footwall-style mineralization associated with this part of the Main Orebody given the elevated copper and precious metal grades in drillhole MLV-26-64.

Underground development and refurbishment of production hoisting infrastructure have continued to advance in preparation of a formal restart decision at Levack. In July and August, 597 feet of development were completed. This development advanced the 2950 Level drift, located between the Morrison Footwall Cu-PGE Deposit and the R2 Footwall Zone, as well as from the 1800 Level to the 1600 Level ramp, providing additional exploration drilling platforms as well as the potential for early production. Shaft crews are changing guides in the skipping compartments of the shaft, while other crews are completing work on the loading pocket and the rehabilitation of drifts for exploration platforms. Detailed engineering is being completed to support a future portal on surface, which would facilitate a new ramp connecting to the Main, Western Main, Keel, No.1 and No.2 orebodies.

Magna Commends the Government of Canada on the Productivity Mega Deduction

Magna Mining commends the Government of Canada for its September 15, 2026, announcement of the Productivity Mega Deduction and the proposed changes to the tax treatment of Canadian Development Expenses (“CDE”). The proposed measures, including the ability to immediately expense 100% of eligible CDE incurred on or after September 15, 2026, represent an important step toward improving the investment environment for Canadian mining and encouraging the development of critical mineral resources. For Magna, these changes have the potential to provide meaningful benefits as the Company advances its portfolio of Sudbury Basin projects, including the Levack Mine and Crean Hill Project, by improving the after-tax economics of eligible development expenditures, strengthening project cash flows and potentially accelerating the deployment of capital into mine development and related infrastructure. Magna believes that a competitive and predictable tax framework can play an important role in supporting new mine development, investment and high-quality employment in Sudbury and across Canada’s critical minerals sector.

The Company is currently evaluating the potential impact of the Productivity Mega Deduction on the Levack PEA and the Crean Hill Pre-Feasibility Study (“PFS”) and now expects the results of both studies to be released in the first half of October.

Table 1: Summary of Drillhole Results

	Drillhole	Property	Zone		From (m)	To (m)	Length (m)	Cu %	Ni %	Co %	Pt g/t	Pd g/t	Au g/t	Ag g/t	Pt+Pd +Au g/t	NiEq	CuEq
	FNX2038-W1	Levack	R2		977.7	981.7	4.0	2.8	1.4	0.0	1.0	0.7	0.3	8.1	2.0	3.3	5.2
				including	977.7	978.5	0.8	7.8	6.4	0.0	3.7	3.1	0.1	20.0	6.9	11.4	18.0
				and including	981.3	981.7	0.4	10.7	0.6	0.0	1.7	0.7	2.8	32.0	5.2	8.8	13.9
				and	999.2	1001.3	2.1	9.5	2.6	0.0	3.2	2.0	12.2	24.9	17.5	14.8	23.5
				and	1038.5	1039.0	0.5	4.2	2.5	0.0	2.2	2.1	0.3	16.0	4.6	5.6	8.8
				and	1052.6	1053.0	0.4	1.9	1.4	0.0	1.3	1.0	0.1	7.0	2.3	2.8	4.4
				and	1068.6	1069.2	0.7	15.4	1.9	0.0	2.7	4.2	0.1	43.0	7.0	12.1	19.1
	FNX2038-W2	Levack	R2		1012.4	1013.4	1.0	0.7	2.5	0.1	3.4	2.3	0.1	2.0	5.8	3.7	5.9
				and	1017.7	1018.4	0.6	0.6	2.9	0.0	2.2	4.1	0.1	1.0	6.4	3.9	6.2
				and	1048.4	1049.0	0.6	0.3	4.6	0.1	4.1	1.7	0.5	1.0	6.3	5.5	8.7
	FNX6070-W2	Levack	R2		788.0	788.4	0.4	0.8	0.2	0.0	2.2	2.5	0.5	6.0	5.2	1.7	2.6
				and	1035.7	1036.1	0.3	1.1	0.3	0.0	1.3	1.0	1.5	9.0	3.8	2.1	3.3
				and	1046.0	1047.3	1.3	1.2	0.2	0.0	0.4	0.4	4.2	11.0	5.0	3.0	4.7
				and	1050.5	1060.0	9.5	2.2	0.2	0.0	1.2	2.0	1.0	13.6	4.3	2.6	4.1
				including	1053.0	1053.4	0.4	26.0	1.5	0.0	1.1	11.8	2.5	146.0	15.5	20.2	31.9
				and including	1057.6	1057.9	0.3	13.3	1.6	0.0	1.2	11.5	12.5	78.0	25.2	17.4	27.5
				and	1071.2	1072.8	1.7	13.0	2.0	0.0	4.1	11.3	3.5	85.2	19.0	13.7	21.7
				including	1071.5	1072.2	0.8	27.3	4.0	0.0	7.4	23.5	2.0	175.0	32.9	25.8	40.7
	MLV-26-46	Levack	Footwall		98.1	98.4	0.3	0.2	0.1	0.0	4.2	3.3	0.6	16.0	8.1	1.7	2.8
				and	99.7	100.0	0.3	0.4	0.1	0.0	3.7	4.4	1.2	22.0	9.3	2.3	3.6
	MLV-26-47	Levack	Footwall		No significant Results
	MLV-26-48	Levack	Footwall Exploration		No significant Results
	MLV-26-49	Levack	Intermediate		51.8	52.3	0.5	2.8	0.4	0.1	2.0	1.3	0.7	5.0	3.9	3.1	4.9
	MLV-26-50	Levack	Intermediate		60.5	62.1	1.6	0.4	1.1	0.0	0.5	1.5	0.1	3.4	2.1	1.5	2.4
				and	73.8	74.2	0.4	0.2	2.1	0.0	1.3	2.3	0.0	3.0	3.6	2.5	4.0
	MLV-26-51	Levack	Intermediate		34.0	35.4	1.4	2.0	2.6	0.1	2.0	3.1	0.2	7.7	5.3	4.5	7.0
				and	24.4	24.7	0.3	1.2	1.0	0.0	0.5	0.5	0.2	7.0	1.2	1.8	2.9
	MLV-26-52	Levack	Intermediate		42.5	44.3	1.7	1.1	1.8	0.0	1.2	0.3	0.2	3.3	1.7	2.6	4.1
	MLV-26-53	Levack	Intermediate		35.2	36.6	1.4	1.4	0.6	0.0	0.9	1.9	0.1	4.2	2.9	1.8	2.9
	MLV-26-54	Levack	Intermediate		91.9	99.2	7.4	1.3	0.8	0.0	0.9	1.6	0.1	4.3	2.6	1.9	3.1
				including	98.5	99.2	0.8	7.2	2.4	0.0	2.8	3.5	0.3	22.8	6.6	7.6	12.1
			R2	and	424.0	424.3	0.3	15.3	0.6	0.0	1.7	8.5	6.0	58.0	16.2	14.3	22.6
	MLV-26-58	Levack	Intermediate		31.7	32.0	0.3	0.6	2.1	0.1	0.7	0.9	0.3	3.0	1.8	2.6	4.2
					73.2	75.5	2.3	1.4	0.7	0.0	0.4	1.4	0.1	5.2	1.8	1.8	2.9
					93.1	93.6	0.4	1.1	1.2	0.0	0.8	0.9	0.1	7.0	1.7	2.0	3.2
					112.5	113.0	0.5	1.5	0.5	0.0	0.7	3.2	0.2	9.0	4.1	2.1	3.3
					126.3	126.6	0.3	0.4	3.3	0.0	2.5	4.0	0.1	2.0	6.6	4.2	6.6
					134.7	135.2	0.5	2.4	0.3	0.0	0.7	0.9	0.1	11.0	1.7	2.0	3.2
					147.4	148.6	1.2	1.0	1.5	0.0	1.4	1.9	0.1	3.8	3.5	2.5	4.0
					155.3	159.1	3.8	2.4	2.7	0.1	2.0	2.4	0.1	7.4	4.5	4.6	7.2
				and	166.0	166.5	0.5	1.2	1.1	0.1	3.0	2.2	0.2	5.0	5.4	2.8	4.5
	MLV-26-60	Levack	MOB		189.2	196.6	7.5	0.4	2.3	0.1	0.0	0.0	0.0	1.0	0.1	2.2	3.5
				including	189.2	191.9	2.7	0.4	3.2	0.1	0.0	0.1	0.0	1.0	0.1	3.0	4.8
				and including	194.4	196.6	2.2	0.6	3.3	0.1	0.0	0.1	0.0	1.0	0.1	3.3	5.2
	MLV-26-64	Levack	MOB		198.7	203.3	4.6	1.7	4.0	0.2	1.5	1.9	0.2	4.1	3.5	5.2	8.3
	MLV-26-65	Levack	MOB		178.1	184.8	6.7	0.4	1.3	0.0	0.1	0.1	0.0	1.0	0.3	1.5	2.3
	MLV-26-68	Levack	MOB		177.0	209.9	32.9	0.4	1.7	0.0	0.2	0.2	0.0	1.1	0.4	1.8	2.9
				including	178.0	181.2	3.2	0.2	3.2	0.1	0.0	0.0	0.0	1.0	0.1	3.0	4.7
				and	189.5	204.4	15.0	0.5	1.9	0.0	0.1	0.1	0.0	1.1	0.2	2.0	3.2
				including	206.0	209.9	3.8	1.0	2.9	0.1	0.7	1.1	0.1	1.8	1.9	3.5	5.5

^{All lengths are downhole length. True widths are highly variable and estimated to range from 30-80% of downhole length. Ni Eq % = (Ni% x 85% Recovery 2204 x Ni Price $/lb) + (Cu% x 96% Recovery x 2204 x Cu Price $/lb) + (Co% x 56% Recovery x 2204 x Co Price $/lb) + (Pt g/t x 69% Recovery / 31.1035 x Pt $/oz) +(Pd g/t x 68% Recovery / 31.1035 x Pd $/oz) + (Au g/t x 68% Recovery / 31.1035 x Au $/oz))/2204 x Ni $/lb. Cu Eq % = (Ni% x 85% Recovery 2204 x Ni Price $/lb) + (Cu% x 96% Recovery x 2204 x Cu Price $/lb) + (Co% x 56% Recovery x 2204 x Co Price $/lb) + (Pt g/t x 69% Recovery / 31.1035 x Pt $/oz) +(Pd g/t x 68% Recovery / 31.1035 x Pd $/oz) + (Au g/t x 68% Recovery / 31.1035 x Au $/oz))/2204 x Cu $/lb. Metal prices in US$: $7.72/lb Ni, $4.88/lb Cu, $18.12/lb Co, $1,410/oz Pt, $1,156/oz Pd and $3,815/oz Au.} 

Figure 1: Location of Magna Mining’s Properties, Including the Levack Mine and Key Sudbury Infrastructure

Figure 2:  3D Longitudinal View Looking North, Showing the Levack Mine Mineralized Zones in Relation to the R2 Footwall Zone, Intermediate Orebody and West Main Orebody.

Figure 3:  3D Longitudinal View Looking North Northeast, Showing the R2 Footwall Zone and recent Assay Results.

Figure 4:  3D Longitudinal View Looking North-Northwest showing the Recent Drilling within the Near Surface Western Extension of the Main Orebody

Table 2: Drillhole Collar Coordinates

	BHID	Easting	Northing	Elevation	Azimuth	Dip	Depth
	FNX2038A-W1	471667	5167001	398	98	59	1182
	FNX2038A-W2	471667	5167001	398	98	59	1180
	FNX6070-W2	472109	5166291	339	17	72	1145
	MLV-26-46	471829	5166195	-705	20	10	150
	MLV-26-47	471829	5166195	-705	351	11	204
	MLV-26-48	471829	5166196	-705	355	-24	176
	MLV-26-49	471999	5166519	-169	319	6	99
	MLV-26-50	472000	5166518	-169	318	-6	99
	MLV-26-51	471999	5166519	-169	318	35	46
	MLV-26-52	471999	5166518	-169	282	10	47
	MLV-26-53	471999	5166518	-169	282	35	46
	MLV-26-54	472004	5166523	-170	19	46	643
	MLV-26-58	472004	5166523	-169	354	37	610
	MLV-26-60	471531	5166372	336	305	52	227
	MLV-26-64	471529	5166371	336	304	55	224
	MLV-26-65	471529	5166370	336	294	59	230
	MLV-26-68	471530	5166371	336	322	90	211

Qualified Person for Technical Information

The scientific and technical information in this press release has been reviewed and approved by David King, M.Sc., P.Geo. Mr. King is the Senior Vice President, Exploration and Geoscience for Magna Mining Inc. and is a qualified person under National Instrument 43-101.

Quality Assurance and Control

Sample QA/QC procedures for Magna have been designed to meet or exceed industry standards. Drill core is collected from the diamond drill and placed in sealed core trays for transport to Magna’s core facilities. Levack drilling utilizes NQ or BQTK sized core and McCreedy West utilizes BQTK sized core. The core is then logged, and samples marked in intervals of up to 1.5m. Levack drill core is split and sampled ½ core, and McCreedy West is whole core sampled. Samples are then put into plastic bags with 10 bagged samples being placed into rice bags for transport to SGS Laboratories in Garson, Ontario for preparation, which are then shipped to Lakefield, Ontario for analysis.  Samples are submitted in batches of 50 with 4 QA/QC samples including, 2 certified reference material standards and 2 samples of blank material.

Cautionary Statement on Forward-Looking Statements

All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology, such as “may”, “might”, “potential”, “expect”, “anticipate”, “estimate”, “believe”, “could”, “should”, “would”, “will”, “continue”, “intend”, “plan”, “target”, “forecast”, “prospective”, “significant” or other similar words or phrases or variations thereof. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, economic, technical and other risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements, including risks and uncertainties relating to the failure of additional drilling and assays to support assumptions, expectations or estimates of potential mineralization, metal tons or grade, such as in the R2 Footwall Zone and the West Main Orebody at the Levack mine, the failure of additional drilling to support additional expansion or delineation of estimated resources, the failure to have accurately estimated declared mineral resources or mineral reserves, the failure of additional drilling to support production planning or replenish production or mined ore, the failure to maintain an adequate rate of development or access to stopes to maintain production, the failure to meet production, cost, cash flow or development expectations, forecasts or guidance, the lack of availability of drill rigs to implement exploration or other programs or the failure to proceed as quickly as planned with additional exploration, development, production or other drilling, continued delays for assay results, the failure to bring the Levack and Crean Hill mines back into production subsequent to the completion of the current preliminary economic assessment and pre-feasibility study now underway for these projects, and other risks disclosed in the Company’s most recent annual information form for the year ended December 31, 2025 , available on the SEDAR+ website (at: www.sedarplus.ca). Although the Company has attempted to identify important risks, uncertainties, contingencies and factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements, there can be no certainty or assurance that the Company has accurately or adequately captured, accounted for or disclosed all such risks, uncertainties, contingencies or factors. Readers should place no reliance on forward-looking statements as actual results, performance or achievements may be materially different from those expressed or implied by such statements. Resource exploration and development, and mining operations, are highly speculative, characterized by several significant risks, which even a combination of careful evaluation, experience and knowledge will not eliminate. Forward-looking statements speak only as of the date they are made. The Company does not undertake to update any forward-looking statements, whether as a result of new information or future events or otherwise, except in accordance with applicable securities laws.

About Magna Mining Inc.

Magna Mining Inc. is a producing mining company with a strong portfolio of copper, nickel, and precious metal assets located in the world-class Sudbury mining district of Ontario, Canada. The Company’s primary asset is the McCreedy West Mine, currently in production, supported by a pipeline of highly prospective past-producing properties including Levack, Crean Hill, Podolsky, and Shakespeare.

Magna Mining is strategically positioned to unlock long-term shareholder value through continued production, exploration upside, and near-term development opportunities across its asset base.

Additional corporate and project information is available at www.magnamining.com and through the Company’s public filings on the SEDAR+ website at www.sedarplus.ca.

For further information, please contact:

Jason Jessup
Chief Executive Officer
or
Paul Fowler, CFA
Executive Vice President
705-482-9667
Email: info@magnamining.com

Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3902fa0f-5bc5-4ffd-b66f-f50009def20c

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https://www.globenewswire.com/NewsRoom/AttachmentNg/bcf6a05e-4e2e-48ce-b37a-fd04e06c452d

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