Magna Mining Announces Change of Auditor

NEWS RELEASE TSXV: NICU

MAGNA MINING ANNOUNCES CHANGE OF AUDITOR

SUDBURY, ONTARIO, CANADA, OCTOBER 16 , 2023 – Magna Mining Inc. (TSX.V: NICU) (OTCQB: MGMNF)

(FSE: 8YD) ("Magna" or the "Company") is pleased to announce the appointment of Grant Thornton LLP,

Chartered Professional Accountants, as auditor of the Company, effective October 12, 2023.

The resignation of Baker Tilly WM LLP, Chartered Professional Accountants, as auditor of the Company, was not

the result of an y reportable event (within the meaning of National Instrument 51 -102 – Continuous Disclosure

Obligations ("NI 51-102"). In accordance with the requirements of NI 51-102, the reporting package relating to the

appointment of Grant Thornton LLP is available o n SEDAR+ (www.sedarplus.ca) under the Company's issuer

profile.

About Magna Mining Inc.

Magna is an exploration and development company focused on nickel, copper a nd PGM projects in the Sudbury

region of Ontario, Canada. The Company's flagship assets are the past producing Shakespeare and Crean Hill mines.

The Shakespeare Mine is a feasibility stage project which has major permits for the construction of a 4,500 tonne

per day open pit mine, processing plant and tailings storage facility and is surrounded b y a contiguous 180km 2

prospective land package. Crean Hill is a past producing nickel, copper and PGM mine with an updated technical

report dated August 2022. Additional information about the Company is available on SEDAR+ (www.sedarplus.ca)

and on the Company's website (www.magnamining.com).

For further information, please contact:

Jason Jessup

Chief Executive Officer

or

Paul Fowler, CFA

Senior Vice President

Email: [email protected]

Cautionary Statement

This press release contains certain " forward-looking information" or "forward-looking statements" as defined in

applicable securities laws. Forward-looking statements are not historical facts and are subject to several risks and

uncertainties beyond the Company's control, including statements regarding the production at the Shakespeare

and Crean H ill Mines and the economic and operational potential of the Shakespeare and Crean Hill Mines.

Resource exploration and development is highly speculative, characterized by several significant risks, which even

a combination of careful evaluation, experience and knowledge may not eliminate. All forward-looking statements

herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-

looking statements. The Company undertakes no obligation to update publicly or o therwise revise any forward-

looking statements whether as a result of new information or future events or otherwise, except as may be required

by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the

TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.