Mr. Jason Jessup reports

MAGNA MINING ANNOUNCES GRADUATION TO THE TORONTO STOCK EXCHANGE AND RESULTS OF ANNUAL & SPECIAL MEETING OF SHAREHOLDERS

Magna Mining Inc. will be graduating from the TSX Venture Exchange to the Toronto Stock Exchange. The common shares will begin trading on the TSX at market open on Tuesday, June 23, 2026, and will continue to trade under the current stock symbol, NICU.

In conjunction with the graduation to the TSX, the common shares will be delisted from the TSX-V, effective upon the commencement of trading on the TSX. Shareholders are not required to exchange their share certificates or take any other action in connection with the TSX listing as there will be no change in the stock symbol or Cusip number for the common shares.

Jason Jessup, chief executive officer of Magna, commented: "Graduating to the Toronto Stock Exchange is an important achievement for Magna and reflects the significant progress we have made in building a new, Sudbury-focused Canadian mining company. We expect our TSX listing to enhance Magna's profile within the investment community, improve trading liquidity and provide greater access to a broader range of investors. This milestone supports our long-term vision of creating value through the acquisition, development and operation of high-quality polymetallic assets in one of the world's premier mining jurisdictions."

In addition, the company is pleased to announce the results of its annual and special meeting of shareholders held yesterday. Each of the matters that were tabled at the meeting for a vote is described in greater detail in the notice of annual and special meeting of shareholders and accompanying management information circular dated May 19, 2026, which are available under the company's profile on SEDAR+.

At the meeting, the shareholders voted to approve the nominations of directors set out in the circular and thus elected Jason Jessup, Carl DeLuca, John Seaman, Vernon Baker and Jonathan Goodman as directors of the company. Shareholders also voted to approve all other matters put to them for a vote in the circular, including the proposed appointment of the auditor and the proposed amended and restated omnibus equity incentive plan of the company, which will be effective upon the commencement of trading of the common shares on the TSX, and the current omnibus equity incentive plan of the company, which is effective immediately but will be superseded and replaced in its entirety by the amended and restated plan, when it becomes effective.

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.