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Magna Mining Announces 2026 Guidance
SUDBURY, Ontario, Feb. 05, 2026 (GLOBE NEWSWIRE) -- Magna Mining Inc. (TSXV: NICU) (OTCQX: MGMNF)...
About this update from Magna Mining Inc
[{"type":"text","content":"Magna Mining Announces 2026 Guidance\nSUDBURY, Ontario, Feb. 05, 2026 (GLOBE NEWSWIRE) -- Magna Mining Inc. (TSXV: NICU) (OTCQX: MGMNF) (FSE: 8YD) (“Magna” or the “Company”) is pleased to provide 2026 guidance for the Company’s assets in Sudbury, Ontario, including 2026 production and cost estimates for the McCreedy West Mine. Highlights Copper Equivalent (“CuEq”) payable1 production guidance of 16.0 million – 18.0 million pounds (“lbs”) CuEq from the 700 Copper Zone at McCreedy West Mine in 2026.Cash Costs, excluding stream payments2 for 2026 are guided at US$3.40/lb CuEq – US$3.80/lb CuEq.All-In Sustaining Costs (AISC), excluding stream payments2 for 2026 are guided at US$4.20/lb CuEq – US$4.70/lb CuEq.Preliminary Economic Assessment (“PEA”) underway at Levack Mine in parallel with work to re-establish ore and waste hoisting capabilities during 2026, and underground development to support ongoing exploration of the R2 Footwall Zone.Pre-Feasibility Study (“PFS”) underway at Crean Hill Mine while engineering work continues in order to facilitate dewatering of the underground workings which could commence in the second quarter of 2026. Jeff Huffman, COO, stated, “The guidance provided for McCreedy West demonstrates what we believe can be accomplished consistently and efficiently from the 700 Copper Zone in 2026. After almost twelve months as operator of the mine, we have increased both diamond drilling footage and mine development rates to match our medium term production requirements. Throughout 2026 we will continue to evaluate production opportunities at McCreedy West, as we receive new diamond drilling information and continually optimize our plan to increase production and profitability. We are also very excited to be advancing both our Levack and Crean Hill projects towards re-start decisions.”   Grades at McCreedy West during the first quarter of 2026 are anticipated to be at the lower end of the full year guidance range to opportunistically take advantage of strong commodity prices relative to the Company’s budgeted prices for 2026. Higher grade areas remain available to be mined later in the year. The Company’s inaugural Mineral Reserves report for McCreedy West is nearing ...