Magna Mining Inc · TSX:NICU
Magna Mining — Investor Presentation (October 2026)
43 slides from Magna Mining's investor presentation, Oct 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 OCTOBER 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 Infrastructure & processing facilities Over 100 years of Social license mining to operate World class Local, provincial mineral & federal endowment government support
Slide 4: Pillars of Growth
MAGNA MINING Pillars of Growth PRODUCTION EXPLORATION SYNERGISTIC ACQUISITIONS Currently one producing copper mine Experienced Sudbury exploration team (McCreedy West) Track record of acquiring accretive Track record of making significant projects in Sudbury Four permitted, past producing mines disc
Slide 5: Sudbury: A World Class Mining District
SUDBURY A World Class Mining District ~200km to Timmins LEVACK PODOLSKY Sudbury Glencore Toronto Strathcona Mill Levack Glencore McCREEDY WEST Falconbridge Smelter Chelmsford Vale Clarabelle Mill Vale Copper Cliff Smelter SHAKESPEARE Wanup Whitefish Nairn CREAN HILL Magna Property Massey ~400km to T
Slide 6: A Clear Pathway to Multi-Asset Production in Sudbury
A Clear Pathway to Multi-Asset Copper-Nickel-Precious Metals Production in Sudbury EXPLORATION PRODUCTION PERMITTED, PAST-PRODUCING DEVELOPMENT PROJECTS & ACQUISITION OF OTHER ASSETS OTHER PROPERTIES SHAKESPEARE Permitted for a 4,500 tpd mill PODOLSKY Strategic existing shaft & ramp to North Zone CR
Slide 7: McCreedy West & Levack
McCreedy West & Levack North Range, Sudbury Basin Vale Coleman Mine Glencore Strathcona Mill Glencore Fraser Mine McCreedy West Portal Levack #2 Shaft Levack Glencore Townsite Hardy Mine Glencore Craig Mine (Onaping Depth Project) Glencore Onaping Mine 7 07
Slide 8: McCreedy West Mine
McCreedy West Mine Producing Copper-Precious Metals-Nickel Mine Security Administrative Complex Portal Ore Sorter Crusher, Sample Tower, Shipping 08
Slide 9: McCreedy West Mine
McCreedy West Mine Producing Copper-Precious Metals-Nickel 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 t
Slide 10: McCreedy West Mine: H1 2026 Highlights
McCreedy West Mine 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
Slide 11: McCreedy West Mine: 2026 Guidance
McCreedy West Mine 2026 Guidance 2026 McCREEDY WEST OPERATIONAL GUIDANCE 700 Copper Zone Ore Sales (short tons) - 375,000 355,000 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 CuE
Slide 12: McCreedy West Mine: 2026 Production Plans
McCreedy West Mine 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
Slide 13: Levack Mine
Levack Mine Past-Producing Nickel-Copper-Precious Metals 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 Past-Producing Nickel-Copper-Precious Metals 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
Slide 15: Levack Mine: Mineral Resource Estimate
Levack Mine Mineral Resource Estimate 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 197,000
Slide 16: Levack Mine: Morrison Copper-PGE Footwall Deposit
Levack Mine Morrison Copper-PGE Footwall Deposit Magna Mining COO Jeff Huffman in a footwall tCEO Jason Jessup and COO Jeff Huffman in a Morrison Deposit mechanized cut & fill stope circa copper stope at McCreedy West in 2010 captive cut & fill stope in the Morrison Deposit 2010 in 2011
Slide 17: Levack Mine: R2 Footwall Zone
Levack Mine 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 surfa
Slide 18: Levack Mine: R2 Footwall Zone
Levack Mine 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 - 1
Slide 19: Levack Mine: Footwall Exploration Target Areas
Levack Mine Footwall Exploration Target Areas Felsic Norite Morrison 4300 Level Development Back Morrison 4300 Level Sulphide Vein Sublayer Norite Mapping Schematic Granite Breccia Sulphide Vein Granite Gneiss Mafic Gneiss Sudbury Breccia Narrow Sub- Gabbro vertical veins Narrow Sub-vertical veins N
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
Slide 21: Crean Hill Mine
Crean Hill Mine Past-Producing Nickel-Copper-Precious Metals Mine Victoria Mine Project (KGHM) Water Treatment Plant Portal Location Outcrop of 109 FW Historical Main Pit (Filled) Waste Rock Stockpile 2024 109 FW Bulk Sample Location 21 21
Slide 22: Crean Hill Mine: 2024 Resource Estimate & PEA
Crean Hill Mine 2024 Resource Estimate & PEA Cut-off Tonnes Ni Pt Pd Au NiEq Classification Cu (%) Co (%) 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 2024 PEA Study: • 2,200 tonnes per day, unde
Slide 23: Crean Hill Mine: Mineral Resource Model
Crean Hill Mine Mineral Resource Model 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 completi
Slide 24: Podolsky Mine
Podolsky Mine Past-Producing Copper-Nickel-Precious Metals Mine Administration Building Security 2000 Deposit Shaft Waste Water Treatment Plant North Zone Portal 24 24
Slide 25: Podolsky Mine
Podolsky Mine Past-Producing Copper-Nickel-Precious Metals Mine 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
Slide 26: A Clear Pathway to Multi-Asset Production in Sudbury
A Clear Pathway to Multi-Asset Copper-Nickel-Precious Metals Production in Sudbury EXPLORATION PRODUCTION PERMITTED, PAST-PRODUCING DEVELOPMENT PROJECTS & ACQUISITION OF OTHER ASSETS OTHER PROPERTIES SHAKESPEARE Permitted for a 4,500 tpd mill PODOLSKY Strategic existing shaft & ramp to North Zone CR
Slide 27: Upcoming Catalysts
MAGNA MINING Upcoming Catalysts NEAR TERM LEVACK EXPLORATION RESULTS - FOOTWALL TARGETS CONTINUED OPERATIONAL MOMENTUM AT McCREEDY WEST LEVACK PEA & CREAN HILL PFS IN OCTOBER 2026 + RE-START DECISIONS POTENTIAL SYNERGISTIC ACQUISITIONS 27
Slide 28: Summary
MAGNA MINING Summary 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 rehabilitation and
Slide 29: Capital Structure
MAGNA MINING Capital Structure CURRENT CAPITAL STRUCTURE EQUITY PERFORMANCE (TSX: NICU) Issued & Outstanding 313,451,861 Options, RSUs & DSUs 14,177,470 Warrants 0 Fully Diluted 327,629,331 Cash1 C$40.0 million Debt2 C$24.0 million Share Price3 C$2.49 Market Capitalization (Basic) C$780 million 1 As
Slide 30: Alpayana: New Strategic Investor
ALPAYANA New Strategic Investor Four decades of operating history and 6 producing underground mines in Peru and Mexico. Alpayana invested C$140 million for a 19.9% stake in Magna Mining. Significant polymetallic operating expertise; over 7 million tonnes of ore produced in 2025 across multiple opera
Slide 31: 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
Slide 32: Leadership
MAGNA MINING 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
Slide 33: Directors and Strategic Advisors
MAGNA MINING Directors and Strategic 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 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
Slide 34: Our Core Values
AAM A WV UMINING INC. Yo =~ MAGNAMINING Our Core Values Health & Safety of our Honesty & Integrity in Relentless Pursuit of Taking Ownership Through People & the Environment Everything That We Do Excellence Entrepreneurial Spirit it for ours ollow throug t nents v excellence in all things, and the e
Slide 35: 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 36: Geology – Impact Structure
SUDBURY Geology – Impact Structure Source: https://craterexplorer.ca/sudbury-impact-structure-geomorphology/
Slide 37: Geology – Composite Cross Section
SUDBURY Geology – Composite 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-type_fi
Slide 38: FNX Historical Share Price Performance
SUDBURY FNX Historical Share Price Performance Source: Bloomberg & Company Filings
Slide 39: McCreedy West Reserve and Resource Estimates
McCreedy West Reserve and Resource Estimates1 1 See Footnotes to the McCreedy West Mineral Reserve & Mineral Resource Estimate.
Slide 40: Mineral Resource Estimates
MAGNA MINING Mineral Resource Estimates Total Contained Metal in NI 43-101 Compliant Resources • 805 million lbs of copper (Measured & Indicated) • 875 million lbs of nickel • 2.7 million ounces of precious metals (Pt + Pd + Au) Additional Contained Metal in Historic Resources1 • 2.6 billion lbs of
Slide 41: Historical Resources
MAGNA MINING Historical 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 Tota
Slide 42: 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 43: 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