Magna Mining awards Crean Hill advanced exploration contract to ADLP

Magna Mining (TSXV: NICU; OTCQB: MGMNF) has awarded the advanced exploration contract for the Crean Hill nickel-copper project to the Aki-eh Dibinwewziwin LP (ADLP), a partnership of the Atikameksheng Anishnawbek, Wahnapitae First Nation, and Technica Mining.

The Crean Hill project is at the site of a former nickel-copper mine in Sudbury, Ont. Magna has been reporting high grades during exploration drilling to date. Possibly the best assay to date was returned from the footwall early last year at 3.7% nickel, 2.8% copper, and 20.2 g/t platinum-palladium-gold over 7.1 metres.

Magna had been in contact with ADLP for several months and says the contractor’s culture and expertise are welcome.

“Working with a local mining contracting company on our project will help to minimize costs and re-enforces our conviction to build strong relationships with our local stakeholders while contributing to the economic growth in the Sudbury region," said Magna CEO Jason Jessup in a statement.

The ADLP partners were unanimous in their praise for Magna’s choice, which demonstrates the miner’s commitment to respect and promote First Nations involvement.

The initial phase of the ADEX mining program will consist of a surface bulk sample of approximately 20,000 tonnes from the 109 Footwall zone. The mobilization and site preparation are scheduled to begin in June, with drilling and blasting commencing in July, followed by processing at Glencore's Strathcona facility.

Dewatering of the historic underground workings via the main shaft is planned to commence in the third quarter, allowing for the start of the portal on surface and underground ramp development later in 2024. Dewatering will be ongoing throughout the ADEX program and water will be treated through an existing water treatment system located off the Crean Hill property.

The initial capital required to commence the surface bulk sample program at Crean Hill is expected to be funded from Magna's existing cash balance.

Magna is currently updating the resource estimate, and the new numbers will be available later this year.

More information is available on www.MagnaMining.com.