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Crean Hill

Crean Hill is a brownfield, past producing mine with a closure plan in place, located in the historic nickel mining district of Sudbury. The project has a NI 43-101 compliant Mineral Resource Estimate of over 30 million tonnes, including 14.5 million tonnes of high grade underground resources (SGS Geological Services, 2022). First production from test mining and bulk sampling is anticipated in 2024.

HIGHLIGHTS

Location

Sudbury, Canada

Stage

Advanced Exploration & Development

Operation

Underground

Commodities

Ni, Cu, Co, Pt, Pd, Au

The Crean Hill Deposit

Preliminary Economic Assessment
NI 43-101 Preliminary Economic Assessment of the Crean Hill Project (Effective Date: July 31, 2023, Stantec)
Mineral Resource Estimate
Mineral Resource Estimate for the Denison NI-CU-PGE Sulphide Deposit (Effective date: August 19, 2022, SGS Geological Services)

Mineralisation

Crean Hill is a brownfield, past producing mine with a closure plan in place, located in the historic nickel mining district of Sudbury. The project has a NI 43-101 compliant Mineral Resource Estimate of over 30 million tonnes, including 14.5 million tonnes of high grade underground resources. First production from test mining and bulk sampling is anticipated in 2024.

Typical SIC Contact Ore

Massive sulphide intersections in the Contact ore at Crean Hill typically exhibit high grade pentlandite and chalcopyrite.

Typical SIC Footwall Ore

Sudbury footwall mineralization containing high grade PGM’s. Footwall hole MCR 23 052 (depicted) reported 0.8% Ni, 1.3% Cu and 2 g/t Pt+Pd+Au ovr 96.5 metres.

Resource

NI 43-101 compliant indicated resource estimate of over 30 million tonnes, including 14.5 million tonnes of high-grade, underground resources (SGS Geological Services, 2022). Estimated contained metal of over 500 million pounds of nickel, 450 million pounds of copper, 650,000 ounces of platinum, 675,000 ounces of palladium and 385,000 ounces of gold.

CREAN HILL NI 43-101 Compliant Resource Estimate (November 2022)
OPEN PIT
Category Cut-off Grade Tonnes (Mt) Ni % Cu % Co % Pt g/t Pd g/t Au g/t NiEq %
Indicated 0.3% NiEq 16.76 0.53 0.49 0.02 0.48 0.37 0.25 1.08
Inferred 0.3% NiEq 0.43 0.43 0.49 0.02 0.29 0.14 0.07 0.82
UNDERGROUND
Category Cut-off Grade Tonnes (Mt) Ni % Cu % Co % Pt g/t Pd g/t Au g/t NiEq %
Indicated 1.1% NiEq 14.53 0.96 0.84 0.03 0.88 1.02 0.54 2.07
Inferred 1.1% NiEq 1.17 0.61 0.46 0.02 0.64 1.09 0.21 1.41

First Production Anticipated in 2024

Ore selling agreement in place with Vale

Closure plan filed March 2024

Permitted for 400,000 tonnes of ore under Advanced Exploration (AdEx)

History

Crean Hill was a past producing mine operated by INCO (now Vale Canada) over 3 operating periods between 1900 and 2002. Exploration programs since the closure of the mine in 2002 did not focus on high-sulphide nickel or copper mineralization.

The mine cumulatively produced over 20 million tonnes of nickel-copper contact ore over this period of time.

In 2022, Magna Mining purchased the property from Lonmin Canada.

Investor Presentation

Office

Magna Mining Inc.
1300 Kelly Lake Road
Sudbury, Ontario P3E 5P4
Canada

Investors
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