Mr. Jason Jessup reports

MAGNA MINING ANNOUNCES GRANTS OF SECURITY-BASED COMPENSATION

Magna Mining Inc. made the following grants of security-based compensation to officers of the company on Jan. 5, 2026:

• 325,000 restricted share units granted to officers of the company: Each restricted share unit will vest in its entirety after, and not in part at any time before, the end of the third anniversary of the date of grant, and will entitle the holder to receive one common share.
• 857,800 options granted to officers of the company: Options shall vest one-third on the date of grant, an additional one-third on the first anniversary of the date of grant and in their entirety on the second anniversary of the date of grant. Each vested option is exercisable to acquire one common share at an exercise price of $2.97 per common share (the close of trade on the trade day immediately preceding the date of grant) for a period of five years from the date of grant.

All grants have been made under and in accordance with the terms and conditions of the company's omnibus equity incentive plan that was approved by the shareholders of the company on June 26, 2025. The omnibus plan is a rolling 10-per-cent plan and provides for the grant of options, restricted share units, performance share units and deferred share units. The aggregate number of common shares reserved for issuance pursuant to the omnibus plan and all other security-based compensation arrangements of the company, at any time, must not exceed 10 per cent of the company's total issued and outstanding common shares.

For additional information regarding the omnibus plan, please refer to the management information circular of the company dated May 26, 2025, which is accessible on SEDAR+ under the company's issuer profile.

About Magna Mining Inc.

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