Mr. Jason Jessup reports

MAGNA MINING ACHIEVES RECORD QUARTERLY TONNAGE AT MCCREEDY WEST MINE IN SUDBURY AND PROVIDES Q2 OPERATIONAL UPDATE

A new record for quarterly tonnage has been achieved under Magna Mining Inc. ownership of the McCreedy West mine, located in the North Range of the Sudbury basin, Northeastern Ontario, Canada. All amounts are expressed in Canadian dollars unless otherwise indicated.

Q2 operational highlights:

• As at June 26, 2026, McCreedy West had shipped 91,724 tons of ore from the 700 copper zone to Vale Base Metals' (VBM) Clarabelle mill in Sudbury, with four days remaining in the second quarter. This surpasses the 84,953 tons of ore produced in the fourth quarter of 2025 and represents a new quarterly record for McCreedy West under Magna ownership.
• The average grade of the 66,445 tons of ore shipped during April and May is 3.55 per cent copper equivalent (CuEq), based on the commodity prices assumed in the company's 2026 production and cost guidance. Final assays are pending for ore shipped in June but average grades for Q2 are anticipated to be near the upper end of the full year guidance range.
• Underground development at McCreedy West during the quarter is anticipated to exceed 2,350 feet, also a record under Magna ownership.
• McCreedy West has achieved a total reportable injury frequency rate (TRIFR) of 0.0.
• Numerous pieces of well-maintained underground equipment have been acquired from a nearby Sudbury operation that is moving into a state of closure for a total price of less than $1-million, well below market rates for equivalent used or new equipment. This equipment will be repurposed for use at the company's Levack mine and to support other Magna projects in the Sudbury basin with potential savings expected to be in the range of $9-million to $12-million.

Jeff Huffman, chief operating officer of Magna, stated: "Our team at Magna has made several significant achievements during Q2, both operationally at McCreedy West as well as at our various development projects in the Sudbury basin. In addition to achieving record quarterly tonnage shipped at McCreedy West, we anticipate the average grade during the quarter to be near the upper end of our 2026 annual guidance and we have also set a record in terms of underground development during the quarter which will help support production rates in the second half of 2026. Most importantly, we are now over one year of operations at McCreedy West without a reportable injury, an impressive achievement by our team which speaks to our strong safety culture."

As at June 26, 2026, 91,724 tons of ore have been safely mined from the 700 copper zone at McCreedy West and shipped to VBM's Clarabelle mill during the second quarter, representing an 11.5 per cent increase over Q1 of 2026 and exceeding the previous record under Magna ownership of 84,953 tons shipped during Q4 of 2025 (Table 1). The average grade1 of the 66,445 tons of ore shipped during the first two months of Q2 was 1.60 per cent copper, 0.28 per cent nickel, 0.94 gram/tonne platinum, 0.99 g/t palladium, 0.46 g/t gold and 14.20 g/t silver, or approximately 3.55 per cent CuEq based on the commodity prices assumed in the company's 2026 production and cost guidance (news release dated Feb. 5, 2026). Final assays are pending for ore shipped in June but average grades for Q2 are anticipated to be near the upper end of the full year guidance range of 3.2 to 3.5 per cent CuEq. As at June 26, 2026, underground development during the quarter was approximately 2,340 feet, or 26.9 feet per day, surpassing the previous quarterly record of 2,252 feet, or 25.3 feet per day, during Q1 of 2026.

During Q2, the opportunity arose to acquire numerous pieces of well-maintained underground equipment and inventory from a Sudbury mining operation located proximate to McCreedy West and Levack that is moving into a state of closure. This equipment includes scoop trams, bolters, personnel carriers, a forklift/backhoe, a scissor truck, a cassette truck, a series of substations, fan starters and switches, dewatering pumps and motors, as well as surplus warehouse stock including hoist ropes, jacklegs/stopers and equipment spares. The total cost of these purchases to Magna is approximately $1-million, which is well below market rates for equivalent used or new equipment. This equipment will be repurposed for use at the company's Levack mine and to support other Magna projects in the Sudbury basin with potential savings expected to be in the range of $9-million to $12-million. This newly acquired equipment will be incorporated into the capital expenditure estimate for the Levack mine preliminary economic assessment (PEA) that is currently under way with completion anticipated in Q3 2026.

Magna will release financial and operating results for the second quarter of 2026 after market close on Wednesday, Aug. 12, 2026. In addition, the company will hold a conference call and webcast to discuss these results on Thursday, Aug. 13, 2026, at 8 a.m. ET.

About Magna Mining Inc.

Magna Mining is a producing mining company with a strong portfolio of copper, nickel and precious metals 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.

We seek Safe Harbor.