Magna Mining Announces Closing Of Brokered Offering Of Common Shares For Gross Proceeds Of Approximately $50 Million

(MENAFN- Newsfile Corp) Sudbury, Ontario--(Newsfile Corp. - September 19, 2025) - Magna Mining Inc. (TSXV: NICU) (OTCQX: MGMNF) (FSE: 8YD) ("Magna" or the "Company") is pleased to announce the closing of its previously announced "best efforts" private placement (the "Offering") for aggregate gross proceeds of approximately $50 million, which includes the full exercise of the agents' option. Under the Offering, the Company sold an aggregate 20,833,300 common shares of the Company (the "Offered Shares") at a price of $2.40 per Offered Share.

The Offering was completed pursuant to the terms of an agency agreement dated September 19, 2025 between the Company and a syndicate of agents led by Canaccord Genuity Corp., Desjardins Capital Markets and SCP Resource Finance LP, and including Paradigm Capital Inc., BMO Capital Markets and Stifel Nicolaus Canada Inc. (collectively, the "Agents").

All Offered Shares were issued and sold in reliance on the "listed issuer financing" exemption from the prospectus requirement available under Part 5A of National Instrument 45-106 - Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (together, the "LIFE Exemption"), and, accordingly, the Offered Shares are not subject to a hold period in accordance with applicable Canadian securities laws. A copy of the offering document under the LIFE Exemption dated September 5, 2025, and filed by the Company in connection with the Offering, can be accessed under the Company's profile on SEDAR+ at and on the Company's website at .

The net proceeds of the Offering will be used to advance the Company's existing properties in Sudbury, Ontario and for general and administrative expenses and working capital purposes, as further described in the Offering Document. In consideration for the services provided by the Agents in connection with the Offering, the Company paid the Agents an aggregate cash commission equal to $2,037,962.40. In addition, the Company also paid a cash finder's fee in the aggregate amount of $225,000. The Offering remains subject to the final approval of the TSX Venture Exchange.

The securities have not been and will not be registered under the U.S. Securities Act, or the securities laws of any state of the "United States" or to or for the benefit of U.S. Persons (as such terms are defined in Regulation S under the U.S. Securities Act), and may not be offered or sold in the United States or to or for the benefit of U.S. Persons unless registered under the U.S. Securities Act and the securities laws of any applicable state of the United States or an exemption from such registration requirements is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Magna Mining Inc.

Magna Mining Inc. is a producing mining company with a strong portfolio of copper, nickel, and platinum group metals (PGM) assets located in the world-class Sudbury mining district of Ontario, Canada. The Company's primary asset is the McCreedy West Mine , currently in production, supported by a pipeline of highly prospective past-producing properties including Levack , Crean Hill , Podolsky , and Shakespeare .

Magna Mining is strategically positioned to unlock long-term shareholder value through continued production, exploration upside, and near-term development opportunities across its asset base.

Additional corporate and project information is available at and through the Company's public filings on the SEDAR+ website at .

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