NICU.V · 2024-07-02 12:00:00

Magna Mining Announces Results of Annual & Special Meeting of Shareholders

Shareholder Meetings

Magna Mining Announces Results of Annual & Special

Meeting of Shareholders

Sudbury, Ontario--(Newsfile Corp. - July 2, 2024) - Magna Mining Inc. (TSXV: NICU) (OTCQB: MGMNF) (FSE:

8YD) ("Magna" or the "Company") is pleased to announce the results of its Annual & Special Meeting of

Shareholders (the "Meeting") held on June 28th. Each of the matters is described in greater detail in the Notice

of Annual & Special Meeting of Shareholders and the accompanying Management Information Circular dated

June 3rd, 2024 (the "Circular").

At the Meeting, the shareholders approved the election of Jason Jessup, Carl DeLuca, John Seaman, Vernon

Baker, Jonathan Goodman, and Shastri Ramnath, each as listed in the Circular, with Ms. Ramnath joining the

Company as a sixth board member. Ms. Ramnath is the CEO of Exiro Minerals, a private mineral exploration

company and the Chair of Orix Geoscience, a geological consulting firm that she co-founded and co-owns. Ms.

Ramnath is a professional geoscientist and entrepreneur with 25 years of global experience and has worked in

various technical and leadership roles. Ms. Ramnath spent much of her career in nickel exploration, holding

positions at Falconbridge, where she started, and subsequently at FNX Mining, where she was a key member

of the exploration and resource team. Ms. Ramnath was also the CEO of Bridgeport, a publicly-listed company

and is currently a director at Jaguar Mining (TSX: JAG).

All other resolutions at the Meeting were approved by shareholders including (i) the appointment of auditors;

(ii) the reconfirmation and approval of the stock option plan of the Company; (iii) the reconfirmation and

approval of the amended and restated restricted share unit plan of the Company (the "Amended RSU Plan");

and (iv) the confirmation and approval of the prior grant of restricted share units under the Amended RSU

Plan, each as more particularly described in the Circular.

About Magna Mining Inc.

Magna Mining is an exploration and development company focused on nickel, copper and Platinum Group

Metals (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 by a contiguous 180km2 prospective land package. Crean Hill is a past

producing nickel, copper and PGM mine with a technical report dated July 2023. 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

Paul Fowler, CFA

Senior Vice President

SOURCE: Magna Mining Inc.