Magna Mining Inc · TSX:NICU
Magna Mining — Investor Presentation (December 2025)
35 slides from Magna Mining's investor presentation, December 2025
Slide 1: Copper, Nickel & Precious Metal Production Growth in Sudbury
www.magnamining.com TSXV: NICU OTC: MGMNF c COPPER, NICKEL & PRECIOUS METAL PRODUCTION GROWTH IN SUDBURY, NORTH AMERICA’S PREMIER MINING DISTRICT December 2025
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 WORLD CLASS MINERAL ENDOWMENT INFRASTRUCTURE & PROCESSING FACILITIES LOW-COST ACCESS TO EXPLORATION & DEVELOPMENT SOCIAL LICENSE TO OPERATE 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: Capital Structure
CA P ITA L S T R U C T U R E EQUITY PERFORMANCE C U R R E N T CA P I TA L ST R U CT U R E (TSXV: NICU ) Retail Issued & Outstanding 249,813,366 ~37% Options, RSUs & DSUs 13,534,236 Warrants 0 Fully Diluted 263,347,602 Cash1 C$63 million SHAREHOLDER BASE Dundee Corporation 18.8% Management & Director
Slide 6: Sudbury – A World Class Mining District
SUDBURY – A WORLD CLASS MINING DISTRICT ~200km to Timmins PODOLSKY 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 Massey ~400km to
Slide 7: 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 8: 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 8
Slide 9: McCreedy West Mine
McCREEDY WEST MINE Administrative Complex Security Portal Ore Sorter Crusher, Sample Tower, Shipping 9
Slide 10: McCreedy West Mine
McCREEDY WEST MINE Current production is from the 700 FW Cu Zone Optionality to restart nickel 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) 10
Slide 11: McCreedy West – 2025 Production Plans
McCREEDY WEST – 2 0 2 5 PRODUCTION PLANS Isometric Looking North Green – Planned Development Portal Orange – Planned Cu Stopes FNX33226 Scale 1.0% Cu, 1.2% Ni, 2.9g/t Pt+Pd+Au over 61.4 m Including 300 Ft 2.4% Cu, 3.7% Ni, 5.7 g/t Pt+Pd+Au over 8.2 m And 3.4% Cu, 2.6% Ni, 5.2 g/t Pt+Pd+Au over 4.4 m
Slide 12: 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 12
Slide 13: Levack Mine
LEVACK MINE Conceptual MLV-25-21 Ramp From 2.3% Ni, 0.7% Cu over 28.0m Including 6.6% Ni, 0.7% Cu, over 2.4m Surface And 3.3% Ni, 1.0 % Cu over 12.4 m 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-Cu Keel Cu-PGE Zone Footwall Zone No. 1 & No. 2 Ni-Cu Zones No. 3 Ni-C
Slide 14: 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 15: Our Experience at McCreedy West & Levack
OUR EXPERIENCE AT M c C R E E D Y WEST & LEVACK Magna Mining COO Jeff Huffman in a CEO Jason Jessup and Jeff Huffman in a Morrison Deposit mechanized cut & fill stope footwall copper stope at McCreedy West in captive cut & fill stope in the Morrison circa 2010 2010 Deposit in 2011 Photo credits: Ste
Slide 16: Levack Footwall – Exploration Target Areas
LEVACK FOOTWALL – EXPLORATION TARGET AREAS The “R2” target area exhibits many mineral and metallurgical similarities to the top of the adjacent Morrison deposit High nickel and PGM grades seem to be transitioning into a zone of very high-grade copper and PGM’s 16
Slide 17: Levack Morrison Deposit – Rob's Zone Comparison
LEVACK MORRISON DEPOSIT – ROB'S ZONE COMPARISON W E Plan View Rob’s Zone FNX2567 0.5% Cu, 6.9% Ni, 5.4 g/t Pt+Pd+Au over 1.1 m Plan View 1 FNX2590 4.4% Cu, 6.5% Ni, 4.2 g/t Pt+Pd+Au over 2.0 m Plan View 2 FNX2745 2.7% Cu, 7.2% Ni, 2.6 g/t 50 ft Pt+Pd+Au over 0.9 m Morrison Cu- PGE Footwall Plan View
Slide 18: Levack Footwall – Exploration Target Areas
LEVACK FOOTWALL – EXPLORATION TARGET AREAS N S Keel Zone MLV-25-04 24.0% Cu, 1.2% Ni, 6.7 g/t Pt+Pd+Au over 2.0 m Fecunis Fault FNX6616 No.3 27.5% Cu, 4.7% Ni, 122.2 g/t Pt+Pd+Au over 0.8 m >2.5 CuEq over >8 ft Coloured By Cu FW 0-0.5 % No. 3 FNX20131 0.5-2 % 5.5% Cu, 3.7% Ni, Orebody 1.7 g/t Pt+Pd+
Slide 19: Crean Hill Mine
C R E A N H I L L M ICNREE A N H I L L M I N E Water Victoria Mine Treatment Plant (KGHM) (500m) Outcrop of 109 FW Main Access Road Waste Rock Proposed Portal Stockpile Location 2024 109 FW Bulk Sample Location Historical Main Pit (Filled) 19
Slide 20: Podolsky Mine
P O D O L S K Y MINE Administration Building Security 2000 Deposit Shaft Waste Water Treatment Plant North Zone Portal 20
Slide 21: Podolsky – Exploration Upside
PODOLSKY - E X P L O R AT I O N UPSIDE 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
Slide 22: Upcoming Catalysts
UC UP PC OOMM I NI N GGCCAAT TAALLYYSSTTSS NEAR TERM LEVACK EXPLORATION RESULTS - FOOTWALL TARGETS NI 43-101 MINE RESERVES - McCREEDY WEST DRILLING AT McCREEDY – DRILLING ON WEST SIDE OF 700 ZONE POTENTIAL SYNERGISTIC ACQUISITIONS 22
Slide 23: Mining for Our Future
MINING FOR OUR FUTURE TSXV: NICU OTCQX: MGMNF Jason Jessup, CEO Paul Fowler, Executive Vice President www.magnamining.com Jason.Jessup@magnamining.com Paul.Fowler@magnamining.com 23
Slide 24: Management
MANAGEMENT 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 25: Directors and Strategic Advisors
DIRECTORS AND S T R AT E G I C ADVISORS V e r n B a k e r , P .E n g . , M B A C h a i r m a n Vern has +30 years of experience in the mining sector. He is currently the CEO of Jaguar Mining (TSX), previously served as General Manager of Goldcorp’s Cerro Negro Mine, VP Operations at FNX Mining, and
Slide 26: McCreedy West – Q3 2025 Summary
McCREEDY WEST – Q3 2025 S U M M A R Y Q3 2025 Operating & Financial Results July – September 2025 (“Q3”) was the second full quarter of production from the McCreedy West copper mine under Magna’s operation. During the quarter 75,215 tons of ore were processed from the 700 Footwall Copper Zone at an
Slide 27: H2 Operational Guidance
H2 O P E R AT I O N A L GUIDANCE H2 2025 OPERATIONAL GUIDANCE 1 Prices are in CAD unless otherwise stated Q3 2025 Q4 2025 700 Copper Zone Ore Tons Sold 80,000 - 92,000 80,000 - 92,000 Copper Equivalent Grade Contained 2.90% - 3.40% 3.80% - 4.40% Copper Equivalent Payable Pounds (000s) 3,500 - 4,200
Slide 28: 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 29: Sudbury Geology – Impact Structure
SUDBURY GEOLOGY – IMPACT STRUCTURE Source: https://craterexplorer.ca/sudbury-impact-structure-geomorphology/ 29
Slide 30: 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 31: FNX Historical Share Price
FNX H I S T O R I C A L SHARE PRICE Source: Bloomberg & Company Filings 31
Slide 32: Mineral Resource Estimates
MINERAL R E S O U R C E ESTIMATES • 935 million lbs of copper Total Contained Metal in NI 43-101 Compliant • 936 million lbs of nickel Resources (Measured & Indicated) • 3.1 million ounces of precious metals (Pt, Pd + Au) • 3.4 billion lbs of copper equivalent (Cu Eq) Additional Contained Metal in H
Slide 33: Historical Resources
H I S T O R I C A L RESOURCES Historical Resources1 Ni Cu Co Pt Pd Au Ag Property Deposit Type Tonnes (%) (%) (%) (gpt) (gpt) (gpt) (gpt) Measured and Indicated Podolsky Contact 6,058,000 0.75 0.21 Podolsky Footwall 1,099,000 0.27 2.35 0 1.01 1.01 0.42 13.56 Kirkwood Contact 565,000 1.17 0.49 Total
Slide 34: Notes on McCreedy West Resource Estimate and Historical Resources
NOTES ON McCREEDY WEST RESOURCE ESTIMATE AND HISTORICAL RESOURCES McCreedy West Property Mineral Resource Estimate Notes: 1. The effective date of the McCreedy West Property Mineral Resource Estimate (MRE) is December 31, 2023. This is the close out date for the final mineral resource models and min
Slide 35: 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