Magna Mining to Resume Trading Following Signing of Definitive Agreement to Acquire Lonmin Canada Inc.
N E W S R E L E A S E TSXV: NICU
MAGNA MINING TO RESUME TRADING FOLLOWING
SIGNING OF DEFINITIVE AGREEMENT TO ACQUIRE LONMIN CANADA INC.
(Sudbury, Ontario – September 7, 2022) Magna Mining Inc. (the "Company" or "Magna Mining")
(TSX-V: NICU) is pleased to announce that, as set out in the bulletin of the TSX Venture Exchange
(the "TSX-V") issued yesterday afternoon, its common shares will resume trading on Thursday,
September 8, 2022. The trading halt was imposed by the TSX-V, in connection with the Company's
announcement that it had signed a definitive share agreement (the " Definitive Agreement") to
acquire 100% of Lonmin Canada Inc., including the Denison project and the past producing Crean
Hill Ni-Cu-PGE mine (the "Acquisition").
The Acquisition remains subject to, among other things, approval by the TSX-V, including the
satisfaction of any customary conditions imposed by the TSX-V. In accord ance with the policies
of the TSX-V, the Company has prepared a technical report in respect of the Denison project (the
"Denison Technical Report") pursuant to National Instrument 43-101 – Standards of Disclosure
for Mineral Projects. A draft of the Denison Technical Report has been provided to the TSX-V for
review and the Company intends to file the Denison Technical Report upon satisfying any
comments of the TSX-V. There is no certainty that the Denison Te chnical Report will be filed in
the immediate term. For further information on th e Acquisition, please see the news release of
the Company dated August 16, 2022.
About Magna Mining
Magna Mining is an exploration and developm ent company focused on nickel, copper and PGM
projects in the Sudbury Region of Ontario, Cana da. The Company's flagship asset is the past
producing Shakespeare Mine which has major perm its for the construction of a 4500 tonne per
day open pit mine, processing plant and tailings storage facility and is surrounded by a contiguous
180km2 prospective land package. Additional info rmation about the Company is available on
SEDAR ( www.sedar.com) under the Company's issuer profile and on the Company's website
(www.magnamining.com).
2
For further information on this press release, visit www.magnamining.com or contact:
Jason Jessup
Chief Executive Officer
or
Paul Fowler, CFA Senior Vice President
Email: [email protected]
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking info rmation" within the meaning of the applicable
Canadian securities legislation that is base d on expectations, estimates, projections and
interpretations as at the date of this news release. The informat ion in this news release about
the Acquisition; the timing and ability of the Company to complete the Acquisition (if at all); the
timing and ability of the Company to obtain regula tory approvals, including the approval of the
TSX-V, in respect of the Acquisition; the timing and ability of the Compan y to file the Denison
Technical Report (if at all); the results of any exploration work completed by Company on Denison
project; the significance (if any) of Crean Hill Ni-Cu-PGE mine being a past producing mine and
the results of such past production; the ability of Magna Mining (if at all) to satisfy the closing
conditions to the Acquisition; and any other information herein that is not a historical fact may
be "forward-looking information".
This forward-looking information is based on reasonable assumptions and estimates of
management of the Company, at the time such assumptions and estimates were made, and
involves known and unknown risks, uncertainties or other factors which may cause the actual
results, performance or achievements of the Company to be materially different from any future
results, performance or achievements expressed or implied by such forward-looking information.
Forward-looking statements are not historical facts and are subject to several risks and
uncertainties beyond the Company's control, including statements regarding the Acquisition, the
potential of the Denison project, and statemen ts regarding beliefs, plans, expectations, or
intentions of the Company. 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 otherwise revise any forward-
looking statements whether as a result of new information or future events or otherwise, except
as may be required by law.
Any statement that involves discussions wi th respect to predictions, expectations,
interpretations, beliefs, plans, projections, objectives, assumptions, future events or
performance (often but not always using phrases such as "expects", or "does not expect", "is
expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans",
"budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such
words and phrases or stating that certain actions, events or results "may" or "could", "would",
3
"might" or "will" be taken to occur or be achieved) are not statements of historical fact and may
be forward-looking information and are intended to identify forward-looking information.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of
the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.