Magna Mining (NICU) investor relations material

Strategic positioning and growth pillars

• Focused on copper, nickel, and precious metals production growth in Sudbury, leveraging over 100 years of mining infrastructure and strong government support.

• Growth strategy centers on production, exploration, and synergistic acquisitions, with one producing mine and several permitted, past-producing assets.

• Portfolio includes low capex, brownfield projects enabling significant production growth over the next five years.

• Vale, Glencore, and this company are the only major property holders in the Sudbury Basin.

Production pipeline and operational highlights

• McCreedy West is currently producing from the 700 Footwall Copper Zone, with optionality to restart nickel production.

• Q4 2025 saw 84,953 tons of ore produced, a 13% increase over Q3, with improved staffing and increased drilling activity.

• 2026 guidance targets 355,000–375,000 tons of ore sales at 3.2–3.5% CuEq, with 16–18 million lbs payable CuEq and AISC of $4.20–$4.70/lb.

• Initial mineral reserve estimate supports a 3-year production profile; additional resources include 5.6M tonnes Indicated and 0.9M tonnes Inferred.

Key development projects and exploration

• Levack Mine re-start preparations are underway, with a 2025 mineral resource estimate and a PEA for re-start via shaft and ramp due in Q3.

• Levack’s indicated resources: 6.1M tonnes at 1.44% Ni, 1.13% Cu, and significant precious metals; inferred resources: 5.7M tonnes at 1.41% Ni, 1.19% Cu.

• Crean Hill PEA outlines a 13-year, 2,200 tpd underground operation, $44.4M net capital cost, pre-tax NPV $265M, IRR 142%, and short payback.

• Podolsky Mine has high-grade copper and precious metal zones, with ramp access close to the North Zone.

• Exploration at Levack’s R2 Footwall Zone is ongoing, with two surface and two underground rigs active.