Business
Magna Mining Achieves Record Quarterly Tonnage at McCreedy West Mine in Sudbury and Provides Q2 Operational Update
SUDBURY, Ontario, June 29, 2026 (GLOBE NEWSWIRE) -- Magna Mining Inc. (TSX: NICU) (OTCQX: MGMNF) ...
About this update from Magna Mining Inc
Magna Mining Achieves Record Quarterly Tonnage at McCreedy West Mine in Sudbury and Provides Q2 Operational Update SUDBURY, Ontario, June 29, 2026 (GLOBE NEWSWIRE) -- Magna Mining Inc. (TSX: NICU) (OTCQX: MGMNF) (FSE: 8YD) (“Magna” or the “Company”) is pleased to announce that a new record for quarterly tonnage has been achieved under Magna ownership of the McCreedy West Mine (“McCreedy West”), located in the North Range of the Sudbury Basin, northeastern Ontario, Canada (Figure 1). All amounts are expressed in Canadian dollars unless otherwise indicated. Q2 Operational Highlights: As at June 26, 2026, McCreedy West had shipped 91,724 tons of ore from the 700 Copper Zone to Vale Base Metals’ (“VBM”) Clarabelle mill in Sudbury, with four days remaining in the second quarter. This surpasses the 84,953 tons of ore produced in the fourth quarter of 2025 and represents a new quarterly record for McCreedy West under Magna ownership.The average grade of the 66,445 tons of ore shipped during April and May is 3.55% copper equivalent (“CuEq”)1, based on the commodity prices assumed in the Company’s 2026 production and cost guidance. Final assays are pending for ore shipped in June but average grades for Q2 are anticipated to be near the upper end of the full year guidance range.Underground development at McCreedy West during the quarter is anticipated to exceed 2,350 feet, also a record under Magna ownership.McCreedy West has achieved a Total Reportable Injury Frequency Rate (“TRIFR”) of 0.0.Numerous pieces of well-maintained underground equipment have been acquired from a nearby Sudbury operation that is moving into a state of closure for a total price of less than $1 million, well below market rates for equivalent used or new equipment. This equipment will be repurposed for use at the Company’s Levack Mine and to support other Magna projects in the Sudbury Basin with potential savings expected to be in the range of $9-12 million. Jeff Huffman, COO of Magna, stated, “Our team at Magna has made several significant achievements during Q2, both operationally at McCreedy West as well as at our various development projects in the Sudbury Basin. In addition to achieving record quarterly tonnage shipped at McCreedy West, we anticipate the average grade during t...