Magna Mining (NICU) investor relations material

Strategic positioning and growth pillars

• Focused on copper, nickel, and precious metal production growth in Sudbury, leveraging over 100 years of mining infrastructure and government support.

• Growth strategy built on production, exploration, and synergistic acquisitions, with one producing mine and four permitted, past-producing mines.

• Portfolio includes low capex, brownfield or past-producing assets, enabling capital-efficient production growth over the next five years.

• All projects have potential for new discoveries or resource extensions, supported by a large proprietary database and experienced exploration team.

Operational and financial performance

• McCreedy West Mine produced 4.1 million CuEq payable pounds in Q1 2026 at an average grade of 3.38% CuEq, with a positive cash margin of $6.0 million.

• Q1 2026 production costs declined 5.3% quarter-over-quarter to $214 per ton, with cash costs of US$3.48/lb CuEq and AISC of US$4.21/lb CuEq.

• 2026 guidance targets 16.0–18.0 million lbs CuEq production at 3.2–3.5% CuEq grade, with cash costs of US$3.40–3.80/lb and AISC of US$4.20–4.70/lb.

• Operational improvements at McCreedy West are driving improved cash flow, funding development at Levack and other projects.

Project pipeline and resource base

• Combined measured and indicated resources: 805M lbs copper, 875M lbs nickel, 2.7M oz precious metals (Pt+Pd+Au).

• Levack Mine re-start preparations underway, with a PEA evaluating mining via existing shaft and ramp, and ongoing exploration at the R2 Footwall Zone.

• Crean Hill Mine PEA outlines a 13-year, 2,200 tpd operation with LOM sales of 195.5M lbs nickel, 169.5M lbs copper, and significant platinum group metals; PFS due Q3 2026.

• Podolsky Mine and other permitted assets provide additional upside, with bulk sample ramp access and high-grade intercepts.