Magna Mining Inc · TSX:NICU
Magna Mining — Investor Presentation (September 2026)
42 slides from Magna Mining's investor presentation, Sep 1, 2026
Slide 1: Copper, nickel & precious metal production growth in Sudbury
www.magnamining.com Copper, nickel & precious metal production growth in Sudbury, North America’s premier mining district SEPTEMBER TSX: OTC: 2026 NICU MGMNF
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS Cautionary Statement Regarding Forward-Looking Information This presentation contains forward-looking information and forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements
Slide 3: The Sudbury Advantage
THE SUDBURY ADVANTAGE OVER 100 YEARS OF MINING INFRASTRUCTURE & PROCESSING FACILITIES SOCIAL LICENSE TO OPERATE LOCAL, PROVINCIAL & FEDERAL GOVERNMENT SUPPORT WORLD CLASS MINERAL ENDOWMENT 3
Slide 4: Magna Mining – Pillars of Growth
MAGNA MINING – PILLARS OF GROWTH PRODUCTION SYNERGISTIC EXPLORATION 0 ACQUISITIONS • Currently one producing copper mine (McCreedy West) • Experienced Sudbury exploration team • Track record of acquiring accretive projects in Sudbury • Four permitted, past producing mines • Track record of making si
Slide 5: Sudbury – A World Class Mining District
SUDBURY – A WORLD CLASS MINING DISTRICT ~200km to Timmins Sudbury PODOLSKY Toronto LEVACK Glencore McCREEDY WEST Strathcona Mill Glencore Levack Falconbridge Smelter Chelmsford Vale Clarabelle Mill Vale Copper Cliff Smelter SHAKESPEARE City of Sudbury Whitefish Wanup Nairn CREAN HILL Magna Property
Slide 6: Magna Mining's Production Pipeline
MAGNA MINING’S P R O D U C T I O N PIPELINE Pipeline of projects: Magna now has a portfolio of low capex, brownfield or past producing assets that can provide a platform for Production McCREEDY WEST significant production growth for the next 5 years LEVACK Bootstrapped production plan: Staggered pro
Slide 7: McCreedy West & Levack Properties
McCREEDY WEST & LEVACK PROPERTIES Vale Coleman Mine Glencore Strathcona Mill Glencore Fraser Mine Levack #2 Shaft McCreedy West Portal Glencore Levack Hardy Mine Townsite Glencore Craig Mine (Onaping Depth Project) Glencore Onaping Mine 7
Slide 8: McCreedy West Mine
McCREEDY WEST MINE Administrative Complex Security Portal Ore Sorter Crusher, Sample Tower, Shipping 8
Slide 9: McCreedy West Mine
McCREEDY WEST MINE Current production is from the 700 Footwall Copper Zone Actively evaluating the restart of production from the Intermain Nickel Zone Development and exploration initiatives will focus on the area to the west of the 700 FW Zone towards the historical Hardy Mine (Glencore) 9
Slide 10: McCreedy West – H1 2026 Highlights
McCREEDY WEST – H1 2026 HIGHLIGHTS Produced 8.6 million copper equivalent (“CuEq”) payable pounds in H1 2026 and continue to expect to achieve full year 2026 guidance for all metrics, including production of 16.0-18.0 million CuEq payable lbs McCreedy West shipped 180,742 tons of ore from the 700 Fo
Slide 11: McCreedy West 2026 Guidance
McCREEDY WEST 2026 GUIDANCE 2026 McCREEDY WEST OPERATIONAL GUIDANCE 700 Copper Zone Ore Sales (short tons) 355,000 - 375,000 Copper Equivalent Grade1 (% CuEq) 3.2% - 3.5% Payable Copper Equivalent Production1 (million lbs CuEq) 16.0 - 18.0 Total Cash Cost, excluding stream payments2 (US$/lb CuEq) $3
Slide 12: McCreedy West – 2026 Production Plans
McCREEDY WEST – 2026 PRODUCTION PLANS Isometric Looking North Portal Scale Blue – 2026 Development Green – Planned Development & 2026 Cu Stopes 300 Ft Orange – Planned Cu Stopes Red – Intermain Ni Contact Deposit Initial Mineral Reserve Estimate announced in Q1 2026 to support a 3-year production pr
Slide 13: Levack Mine
L E VA C K MINE Administration Security Levack #2 Shaft Building Vale Coleman Core Shack Mine Proposed Portal Glencore Strathcona Mill Sample Tower Backfill Plant Glencore Onaping Depth Project 13
Slide 14: Levack Mine
LEVACK MINE Conceptual MLV-25-21 2.3% Ni, 0.7% Cu over 28.0m Including Ramp From 6.6% Ni, 0.7% Cu, over 2.4m And 3.3% Ni, 1.0 % Cu over 12.4 m Surface MLV-25-22 2.4% Ni, 0.8% Cu, over 15.5m And 3.2% Ni, 2.2% Cu over 2.4 m Main Ni- Keel Cu-PGE Cu Zone Footwall No. 1 & No. 2 Zone Ni-Cu Zones No. 3 Ni-
Slide 15: Levack Mineral Resource Estimate
LEVACK MINERAL R E S O U R C E ESTIMATE1 Cu Ni Co Pt Pd Au Ag CuEq Deposit Type Category Cut-off Grade Short Tons Metric Tonnes % % % (g/tonne) (g/tonne) (g/tonne) (g/tonne) % Contact Indicated 2.00% CuEq 6,535,000 5,928,000 0.89 1.41 0.05 0.46 0.56 0.07 0.99 3.18 Footwall Indicated 2.50% CuEq 197,0
Slide 16: Morrison Footwall Deposit at Levack
MORRISON FOOTWALL DEPOSIT AT LEVACK Magna Mining COO Jeff Huffman in a CEO Jason Jessup and COO Jeff Huffman in Morrison Deposit mechanized cut & fill stope footwall copper stope at McCreedy West in a captive cut & fill stope in the Morrison circa 2010 2010 Deposit in 2011 16 Photo credits: Steve Cl
Slide 17: Levack – R2 Footwall Zone
LEVACK – R2 FOOTWALL ZONE The R2 Footwall Zone area exhibits many mineralogical and structural similarities to the top of the adjacent Morrison Footwall Cu-PGE Deposit High nickel and PGE grades transition into very high-grade copper and precious metals 17 Exploration is ongoing with two surface dri
Slide 18: Levack – R2 Footwall Zone
LEVACK – R2 FOOTWALL ZONE R2 Footwall Zone has been intersected over a vertical extent of approximately 300 metres and a north-south extent of approximately 150 metres The R2 Footwall Zone remains open up dip towards the No. 3 Footwall Zone as well as at depth towards the Morrison Footwall Cu-PGE De
Slide 19: Levack Footwall – Exploration Target Areas
LEVACK FOOTWALL – EXPLORATION TARGET AREAS Felsic Norite Morrison 4300 Level Development Back Morrison 4300 Level Sulphide Sublayer Norite Mapping Vein Schematic Granite Breccia Sulphide Vein Granite Gneiss Mafic Gneiss Sudbury Breccia Narrow Sub- Gabbro vertical veins Narrow Sub- vertical veins Nar
Slide 20: Levack Mine Progress Update
LEVACK MINE PROGRESS UPDATE Connection of 3900 Level ramp to 3600 Level complete, facilitating Coleman Mine secondary egress Development complete on the 1800 Level to access the Intermediate Ore Body (IOB) Underground drilling of R2 Footwall Zone underway from 8451 Drill Bay on the 1800 Level R2 Adv
Slide 21: Crean Hill Mine
C R E A N H I L L M ICNREE A N H I L L M I N E Victoria Mine Project (KGHM) Water Portal Location Treatment Plant Outcrop of 109 FW Historical Main Pit (Filled) Waste Rock Stockpile 2024 109 FW Bulk Sample Location 21
Slide 22: Crean Hill Mine
CREAN HILL MINE Crean Hill Project Underground Mineral Resource Estimate, April 15, 2024 Cut-off Tonnes Cu Ni Co Pt Pd Au NiEq Classification NiEq% (M) (%) (%) (%) (g/t) (g/t) (g/t) (%) Indicated 1.1% 18.444 0.87 1.01 0.035 0.98 1.12 0.37 1.96 Inferred 1.1% 0.989 0.53 0.70 0.026 0.98 1.66 0.29 1.56
Slide 23: Crean Hill Mine
CREAN HILL MINE 2024 PEA outlined a 13 year, 2,200 tonne per day operation with LOM mineable resource sales of 195.5 million pounds nickel, 169.5 million pounds copper, 313,000 oz platinum, 359,000 oz palladium, and 117,000 oz gold Pre-Feasibility Study underway with completion in Q3 2026 23
Slide 24: Podolsky Mine
P O D O L S K Y MINE Administration Building Security 2000 Deposit Shaft Waste Water Treatment Plant North Zone Portal 24
Slide 25: Podolsky North Zone
PODOLSKY NORTH ZONE SW NE Main Shaft Portal Whistle Pit North Zone Contact Ni Zones FNX4199 17.8 % Cu, 1.4% Ni, FNX4400 10.2 g/t Pt+Pd+Au 1.0 Ni, 0.2% Cu, over 7.0 m over 103.7 m Gabbro FNX4205 Zone 21.0 % Cu, 0.7% Ni, 15.9 g/t Pt+Pd+Au FNX40238 over 6.6 m 23.4 % Cu, 1.2% Ni, 12.9 g/t Pt+Pd+Au over
Slide 26: New Strategic Investor – Alpayana
NEW STRATEGIC INVESTOR – ALPAYANA • Four decades of operating history and 6 producing mines in Peru and Mexico. • Alpayana to invest C$140 million for a 19.9% stake in Magna Mining upon closing. • Significant polymetallic operating expertise; over 7 million tonnes of ore produced in 2025 across mult
Slide 27: Upcoming Catalysts
UC UP PC OOMM I NI N GGCCAAT TAALLYYSSTTSS NEAR TERM LEVACK EXPLORATION RESULTS - FOOTWALL TARGETS CONTINUED OPERATIONAL MOMENTUM AT McCREEDY WEST LEVACK PEA & CREAN HILL PFS IN Q3 2026 + RE-START DECISIONS POTENTIAL SYNERGISTIC ACQUISITIONS 27
Slide 28: Why Magna Mining
U P C O M ISNUGM C M AA TRAYL Y S T S McCreedy West Mine operational improvements leading to improved cash flow Levack Mine re-start preparations well underway, funded by cash flow and cash on hand Continued exploration success at Levack with the new R2 Footwall Zone taking shape with underground re
Slide 29: Capital Structure & Equity Performance
CA P ITA L S T R U C T U R E EQUITY PERFORMANCE C U R R E N T CAP I TAL ST R U CT U R E (TSX: NICU) $4.00 Retail 7 Issued & Outstanding 313,350,161 ~37% $3.50 6 $3.00 5 Volume (Millions) $2.50 Options, RSUs & DSUs 14,172,078 4 Price (C$) $2.00 3 $1.50 2 Warrants - $1.00 $0.50 1 $-- -- Jan-23 Aug-23
Slide 30: Sudbury's Canadian Mining Company
SUDBURY’S CANADIAN MINING COMPANY TSX: NICU OTCQX: MGMNF Jason Jessup, CEO Paul Fowler, Executive Vice President www.magnamining.com Jason.Jessup@magnamining.com Paul.Fowler@magnamining.com 30
Slide 31: Leadership
LEADERSHIP Jason Jessup, MBA – Chief Executive Officer & Director Jason has over 25 years of experience in the mining industry comprising operations management, corporate development and project evaluation. Formerly FNX Mining, Sandstorm Gold, Premier Royalty, and INCO. Paul Fowler, CFA – Executive
Slide 32: Directors and Strategic Advisors
DIRECTORS AND STRATEGIC ADVISORS V e r n B a k e r , P.E ng . , M B A C h a i r m a n Vern has over 30 years of experience in the mining sector. He is currently the COO of Exiro Nickel and the former CEO of Jaguar Mining (TSX). Previously served as General Manager of Goldcorp’s Cerro Negro Mine, VP
Slide 33: Our Core Values
OUR CORE VALUES Health & Safety of our People & the Environment We do things right for ourselves, our co-workers, and the environment 33 Honesty & Integrity in Everything That We Do We follow through on our commitments while demonstrating truthfulness, respect, and integrity in all actions and with
Slide 34: Sudbury Property Portfolio
SUDBURY PROPERTY PORTFOLIO ~200km to Timmins RAND PARKIN NORTHWEST FOY NORTH RANGE PODOLSKY FROST LAKE LEVACK Capreol BLEZARD Glencore Strathcona Mill KIRKWOOD McCREEDY WEST Levack Glencore Falconbridge Smelter Chelmsford FALCONBRIDGE FOOTWALL TRILL Vale Clarabelle Mill Vale Copper Cliff Smelter SHA
Slide 35: Sudbury Geology – Impact Structure
SUDBURY GEOLOGY – IMPACT STRUCTURE Source: https://craterexplorer.ca/sudbury-impact-structure-geomorphology/ 35
Slide 36: Sudbury Geology – Composite Cross Section
SUDBURY GEOLOGY – C O M P O S I T E CROSS SECTION SUDBURY BRECCIA Contact-type NICKEL-COPPER deposit Footwall-type Sudbury Igneous Complex COPPER-PRECIOUS METALS (SIC) deposit Source: https://www.researchgate.net/figure/Composite-cross-section-showing-the-geological-settings-for-North-and-East-Range
Slide 37: FNX Historical Share Price
FNX H I S T O R I C A L SHARE PRICE 37 Source: Bloomberg & Company Filings
Slide 38: McCreedy West Reserve & Resource Estimates
McCREEDY WEST RESERVE & R E S O U R C E ESTIMATES1 1 See Footnotes to the McCreedy West Mineral Reserve & Mineral Resource Estimate. 38
Slide 39: Mineral Resource Estimates
MINERAL R E S O U R C E ESTIMATES • 805 million lbs of copper Total Contained Metal in NI 43-101 Compliant • 875 million lbs of nickel Resources (Measured & Indicated) • 2.7 million ounces of precious metals (Pt + Pd + Au) • 2.6 billion lbs of copper equivalent (CuEq) Additional Contained Metal in H
Slide 40: Historical Resources
H I S T O R I C A L RESOURCES Historical Resources1 Deposit Ni Cu Co Pt Pd Au Ag Property Tonnes Type (%) (%) (%) (g/t) (g/t) (g/t) (g/t) Measured & Indicated Podolsky Contact 6,058,000 0.75 0.21 Podolsky Footwall 1,099,900 0.27 2.35 - 1.01 1.01 0.42 13.56 Kirkwood Contact 565,000 1.17 0.49 Total 7,
Slide 41: Notes on McCreedy West Reserve & Resource Estimates
NOTES ON McCREEDY WEST RESERVE & RESOURCE ESTIMATES AND HISTORICAL RESOURCES 1Notes on Mineral Reserves The effective date of the McCreedy West Mineral Reserve Estimate is December 31, 2025. Mineral Reserves are in addition to Mineral Resources. The Mineral Reserve estimate was prepared under the su
Slide 42: Notes on Levack Resource Estimate
NOTES ON LEVACK RESOURCE ESTIMATE Levack Mineral Resource Estimate Notes: 1. The effective date of the Levack Mine Mineral Resource Estimate (MRE) is August 31, 2025. This is the close out date for the final mineral resource models and mine out models (as-builts). 2. The mineral resources are report
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