Magna Mining Begins Pre-Feasibility Study for Crean Hill Project

Magna Mining Inc. has engaged Technica Mining Inc. to initiate a pre-feasibility study (PFS) on its wholly owned Crean Hill Project, located in Sudbury, Ontario. This development, announced on December 16, 2025, marks a significant step for the company, as it builds on the Preliminary Economic Assessment (PEA) completed in 2024.

Jason Jessup, CEO of Magna Mining, emphasized the project’s potential, stating that Crean Hill showcases an attractive combination of base and precious metals. He noted that the PFS will further explore the findings of the PEA, which projected a mining life of 13 years, modest pre-production capital costs, and a high internal rate of return under conservative precious metals pricing.

The PFS is set to commence in January 2026 and is expected to be completed by the third quarter of 2026. This study will incorporate new data from a 20,000-tonne bulk sample program conducted in late 2024, which is anticipated to enhance the project’s economic viability.

Crean Hill has been somewhat sidelined in 2025 as Magna focused on integrating properties acquired from KGHM in March. However, the company continues to make strides, including advancing engineering work for a grid power connection and establishing a permanent dewatering system—both crucial for updating project economics in 2026. The PFS will run concurrently with a PEA for Magna’s Levack Mine, aligning with the company’s vision of evolving into a multi-mine producer within the Sudbury Basin in the coming years.

The PEA from September 2024 discussed an underground mining operation, indicating that mineable resources would be sold to an existing third-party mill in Sudbury. The proposed plan includes initiating underground mining with a 15-month Advanced Exploration (AdEx) program, followed by a 12-month pre-production ramp-up, and then entering a 13-year commercial production phase. Initial mining operations will utilize ramp access via a new surface portal, with plans to rehabilitate the historic #2 shaft for deeper mining operations. Importantly, all necessary permits for commencing AdEx at Crean Hill are already secured.

The 2024 PEA highlighted the Crean Hill Project’s potential, based on resource estimates by SGS Geological Services, with an effective date of April 15, 2024. The analysis indicates that the majority of mineral resources involve contact nickel-copper zones, alongside lesser amounts of footwall copper-nickel-precious metals resources, including platinum, palladium, gold, and silver.

Notable intersections from the footwall include drillhole MCR-22-013, which recorded 0.6% copper, 0.2% nickel, and an impressive 11.0 grams per tonne of combined platinum, palladium, and gold over 95.4 metres. In another significant finding, drillhole LM04760 intersected 0.3% copper and 0.5% nickel, along with 38.4 g/t platinum, 28.2 g/t palladium, and 8.1 g/t gold over 8.5 metres. The potential for expansion remains open as both the 109 FW Zone and the 9400 FW Zone have been drill-tested above the 600-metre level.

Allan Armitage, Ph.D., P.Geo., of SGS Geological Services, is the independent Qualified Person responsible for the Crean Hill Mineral Resource Estimate. He conducted site inspections and ensured that resource assessments align with NI 43-101 standards.

In a cautionary note, Magna Mining reminds stakeholders that forward-looking statements made in this announcement are based on various assumptions and are subject to risks and uncertainties. These may include challenges in completing the PFS as anticipated or discrepancies between the expected and actual findings of the study.

Magna Mining, an exploration and development company focused on nickel, copper, and precious metals, positions itself as a key player in the Sudbury region. It oversees several key assets, including the Shakespeare and Crean Hill Mines, and aims to advance its projects in an economically viable manner. Further information on the company’s operations can be found on its website and through regulatory filings.