Business
Magna Mining Announces Funding Award from the Critical Minerals Innovation Fund (CMIF)
Sudbury, Ontario--(Newsfile Corp. - June 23, 2025) - Magna Mining Inc. (TSXV: NICU) (OTCQX: MGMNF...
About this update from Magna Mining Inc
[{"type":"text","content":"Magna Mining Announces Funding Award from the Critical Minerals Innovation Fund (CMIF)Sudbury, Ontario--(Newsfile Corp. - June 23, 2025) - Magna Mining Inc. (TSXV: NICU) (OTCQX: MGMNF) (FSE: 8YD) (the \"Company\" or \"Magna\") is pleased to announce that the Ontario government has awarded funding for up to C$500,000 for work on the Company's Crean Hill project. The award will be applied towards metallurgical work related to enhancing precious metal recoveries from contact and footwall mineralization at Crean Hill, which was carried out as part of the surface bulk sample program in 2024. Magna Mining's Senior Vice President Paul Fowler stated: \"We are extremely pleased to be the recipients of this funding program, and we are delighted that the Ontario government is supporting our efforts to develop new critical mineral production in Sudbury. We look forward to continuing to work with the Ontario government through initiatives such as the Critical Minerals Innovation Fund and the new C$500 million Critical Minerals Processing Fund to execute our plans to re-start multiple new mining operations and increase copper and nickel production in Sudbury over the next 3 to 4 years.\" \"Ontario is doubling down on its leadership in the critical minerals sector, and our Critical Minerals Innovation Fund is a core component of this strategy,\" said Stephen Lecce, Minister of Energy and Mines. \"This investment will help efforts to enhance mineral recoveries in the historic Sudbury basin and create good paying jobs for Canadians. By supporting Magna Mining's Crean Hill project in advancing mineral processing work to maximize precious metal yields and boost copper and nickel output, we are helping to write the next chapter for Sudbury's mining sector while powering Ontario's future as a key supplier of the critical minerals essential for a modern and competitive economy.\"Cautionary Note Regarding Forward-Looking Statements All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute \"forward-looking statements\" and \"forward-looking information\" (collectively, \"forward-looking statements\") within the meaning of applicable securities laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology, such as \"may\", \"might\", ...