Magna Mining Inc. press release

Magna Mining Announces New Drill Results from McCreedy West and Recognition from the Government of Ontario

2025-06-10

TSX - Toronto Stock Exchange · Drill Results

Sudbury, Ontario--(Newsfile Corp. - June 10, 2025) - Magna Mining Inc. (TSXV: NICU) (OTCQX: MGMNF) (FSE: 8YD) ("Magna" or the "Company") is pleased to announce additional drill results from the McCreedy West mine, including 3.0% Cu, 0.4% Ni, 9.1 g/t Pt + Pd + Au over 10.8 metres and 3.9% Cu, 0.6% Ni, 6.8 g/t Pt + Pd + Au over 2.1 metresin drillhole FNX33368 (Table 1). Magna is also pleased to announce that the Sudbury based projects owned and operated by the Company have been identified as shovel ready, strategic critical mineral projects by the Government of Ontario. In a letter to Canada's Minister of Energy and Natural Resources, Ontario's Ministers of Energy and Mines, Natural Resources, and Indigenous Affairs and First Nations Economic Reconciliation, the Government of Ontario urged the Federal Government to invest in critical mineral mines and infrastructure in Ontario.

Highlights from the new assay results include:

-

FNX33344: 5.1% Cu, 1.0% Ni, 1.8 g/t Pt + Pd + Au over 6.6 metres

-

FNX33350:2.0% Cu, 0.2% Ni, 2.6 g/t Pt + Pd + Auover 20.0 metres

_Including_29.5% Cu, 0.2% Ni, 18.7 g/t Pt + Pd + Auover 0.5 metres

_And23.4_% Cu, 0.1% Ni, 38.5 g/t Pt + Pd + Auover 0.5 metres

FNX33368: 3.0% Cu, 0.4% Ni, 9.1 g/t Pt + Pd + Au over 10.8 metres

_And_3.9% Cu, 0.6% Ni, 6.8 g/t Pt + Pd + Au over 2.1 metres

FNX33385: 2.7% Cu, 0.4% Ni, 6.9 g/t Pt + Pd + Au over 7.0 metres

_And_28.9% Cu, 1.0% Ni, 2.2 g/t Pt + Pd + Au over 0.8 metres

Diamond Drilling

Production drilling at the McCreedy West Mine is ongoing with two underground diamond drills working in the 700 Cu-PGE Footwall Zone (Figure 1). Drilling is currently focused on supporting the mid-term production planning and better definition and grade confidence for stopes in the 2025 mine plan. A summary of assay results since Magna took ownership of the property on March 1, 2025, is found in Table 1, and drillhole collar information in Table 2. As development progresses and drilling platforms become available, the focus will shift to expansion and definition drilling along the lower margins and to the west of the known 700 Cu-PGE Footwall Zone (Figure 2).

There is one surface diamond drill rig at Levack Mine that is supporting definition and expansion drilling on the Keel Zone in the footwall of the Main Orebody. Results from two additional drillholes on the periphery of the Main Orebody are presented in Table 1. Once drilling in the Keel area is complete, this rig will continue with definition and expansion within near surface portions of the No. 1 and No. 2 Ni-Cu zones in support of the Levack mine restart study. A second rig is currently drilling exploration targets in the footwall of the historic No. 3 Orebody and will continue testing deeper targets over the next few months. In addition to the current surface drilling, Magna has begun planning an underground drilling program, which we anticipate starting in the third quarter as suitable drilling platforms are identified and become available. Assay result turn-around times were slower than expected in May, resulting in a reduced number of Levack drill hole assay results available to report at this time. We believe the issues have been resolved and anticipate that going forward, assay results should be as expected.

Regional Exploration

Geological compilation work is underway on Magna's exploration and development stage properties, including Podolsky and Kirkwood, in advance of summer field programs. Priority exploration targets at Kirkwood include the near surface Sudbury breccia hosted Segway Footwall Cu-PGE zone, which was discovered by FNX Mining Inc. however has not been fully explored below the 150-metre level (Figure 3). At Podolsky, exploration will follow-up on historical drillhole intersections outside of the known mineralized zones, within the footwall breccias (Figure 4). Magna has initiated surface prospecting, mapping and sampling in areas where information is lacking, with the goal of identifying and prioritizing additional exploration targets that can be drill tested in 2025. Magna intends to commence exploration drilling on the highest priority targets in the 3rdquarter.

Magna Mining Projects Identified as Priorities for Strategic Critical Mineral Supply Chain Development by the Government of Ontario

Magna is pleased to announce that the Sudbury based projects owned and operated by the Company have been identified as shovel ready, strategic critical mineral projects by the Province of Ontario. In a letter to Canada's Minister of Energy and Natural Resources, Ontario's Ministers of Energy and Mines, Natural Resources, and Indigenous Affairs and First Nations Economic Reconciliation urged the Federal Government to invest in critical mineral mines and infrastructure. The projects owned and operated by Magna were on a shortlist of such projects that the Ontario Government identified as priorities for investment. Magna owns one producing critical mineral mine and four permitted, past producing projects in the Sudbury region (see Figure 1). The Company has ore selling agreements in place with Vale Base Metals and Glencore Canada to supply ore to their respective concentrators.

Magna's SVP, Paul Fowler, commented: "We are proud to be advancing several projects in Sudbury that we believe will make a meaningful contribution towards augmenting the upstream portion of the critical mineral supply chain in Canada. We certainly appreciate this recognition from the Government of Ontario, and their support and assistance through initiatives such as the $500 million Critical Mineral Processing Fundwill be of the upmost importance as we build our projects and expand our existing operations. In conjunction with the support programs now operated by the federal government, we believe that Magna is in a strong position to build our projects as quickly as possible and therefore help to rapidly strengthen Canada's critical mineral supply chain."

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Figure 1: Location of Magna Mining Existing Properties, and Key Sudbury Infrastructure

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8002/255012_843a502de4302b61_002full.jpg

[](https://images.newsfilecorp.com/files/8002/255012_843a502de4302b61_003full.jpg)

Figure 2: McCreedy West Mine Oblique 3D View Showing the Location of Mineralized Zones

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8002/255012_843a502de4302b61_003full.jpg

[](https://images.newsfilecorp.com/files/8002/255012_843a502de4302b61_004full.jpg)

Figure 3: Kirkwood Property Surface Geology and Longitudinal Section Showing Drilling on the Segway Zone

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8002/255012_843a502de4302b61_004full.jpg

[](https://images.newsfilecorp.com/files/8002/255012_843a502de4302b61_005full.jpg)

Figure 4: Podolsky Property Longitudinal Section Showing Known Mineralized Zones and Selected Drillhole Intersections

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/8002/255012_843a502de4302b61_005full.jpg

Table 1: Summary of Drillhole Results from Magna 2025 McCreedy West Drilling

| Drillhole | Property | Zone | | From (m) | To (m) | Length (m) | Cu % | Ni % | Co % | Pt g/t | Pd g/t | Au g/t | TPM g/t | NiEq | CuEq | | MLV-25-07 | Levack | East MOB | | 280.18 | 280.47 | 0.29 | 3.96 | 3.86 | 0.03 | 1.75 | 0.72 | 0.04 | 2.51 | 5.80 | 10.32 | | | | | and | 283.45 | 285.05 | 1.60 | 3.47 | 0.47 | 0.01 | 0.56 | 0.54 | 0.08 | 1.17 | 2.45 | 4.36 | | | | | and | 296.57 | 296.87 | 0.30 | 2.08 | 2.46 | 0.03 | 0.82 | 0.74 | 0.05 | 1.61 | 3.47 | 6.18 | | | | | and | 299.15 | 299.60 | 0.45 | 1.79 | 2.48 | 0.07 | 0.72 | 0.73 | 0.06 | 1.51 | 3.37 | 6.00 | | MLV-25-08 | Levack | East MOB | | 302.62 | 303.26 | 0.64 | 2.48 | 1.58 | 0.01 | 2.03 | 0.68 | 0.32 | 3.02 | 3.16 | 5.63 | | FNX33323* | McCreedy West | 700 FW Cu | | 33.83 | 42.67 | 8.84 | 0.95 | 0.53 | 0.01 | 3.15 | 1.82 | 0.82 | 5.79 | 1.90 | 3.39 | | | | | and | 49.23 | 51.66 | 2.44 | 8.31 | 0.15 | 0.00 | 6.12 | 5.72 | 2.05 | 13.88 | 6.86 | 12.21 | | | | | and | 90.53 | 97.84 | 7.32 | 8.24 | 0.76 | 0.01 | 2.50 | 4.17 | 0.87 | 7.54 | 6.27 | 11.17 | | | | | and | 103.02 | 104.39 | 1.37 | 11.42 | 2.57 | 0.03 | 2.62 | 4.56 | 0.65 | 7.83 | 9.55 | 17.01 | | FNX33325 | McCreedy West | 700 FW Cu | | 3.51 | 12.50 | 8.99 | 1.20 | 0.63 | 0.00 | 2.28 | 2.98 | 0.34 | 5.59 | 2.02 | 3.60 | | | | | and | 19.20 | 19.51 | 0.30 | 25.42 | 0.20 | 0.01 | 20.62 | 5.70 | 0.14 | 26.46 | 17.51 | 31.18 | | | | | and | 29.11 | 29.41 | 0.30 | 17.22 | 0.83 | 0.03 | 16.60 | 7.64 | 0.39 | 24.63 | 13.48 | 24.01 | | | | | and | 109.73 | 123.75 | 13.41 | 1.74 | 0.10 | 0.00 | 0.91 | 1.07 | 0.47 | 2.45 | 1.44 | 2.57 | | | | | Including | 121.31 | 123.75 | 2.44 | 5.52 | 0.10 | 0.00 | 2.23 | 3.42 | 1.58 | 7.23 | 4.31 | 7.68 | | | | | and | 132.59 | 138.53 | 5.94 | 2.38 | 0.48 | 0.01 | 1.11 | 0.78 | 0.27 | 2.16 | 2.03 | 3.62 | | FNX33344 | McCreedy West | 700 FW Cu | | 18.75 | 25.30 | 6.55 | 5.12 | 1.01 | 0.01 | 0.44 | 1.12 | 0.25 | 1.81 | 3.92 | 6.98 | | FNX33345 | McCreedy West | 700 FW Cu | | 1.52 | 3.05 | 1.52 | 16.93 | 0.52 | 0.01 | 4.02 | 11.22 | 2.19 | 17.43 | 12.34 | 21.97 | | FNX33346 | McCreedy West | 700 FW Cu | | 6.10 | 8.38 | 2.29 | 2.23 | 0.44 | 0.00 | 0.81 | 1.94 | 2.10 | 4.85 | 2.58 | 4.60 | | | | | and | 15.24 | 18.14 | 2.90 | 3.08 | 0.60 | 0.01 | 0.73 | 0.94 | 0.37 | 2.05 | 2.52 | 4.48 | | FNX33347 | McCreedy West | 700 FW Cu | | 6.10 | 6.71 | 0.61 | 2.90 | 0.64 | 0.01 | 1.55 | 1.77 | 0.26 | 3.58 | 2.65 | 4.72 | | | | | and | 16.76 | 17.07 | 0.30 | 5.41 | 0.07 | 0.00 | 0.84 | 0.91 | 0.21 | 1.96 | 3.27 | 5.83 | | FNX33348 | McCreedy West | 700 FW Cu | | 19.20 | 20.12 | 0.91 | 21.79 | 0.74 | 0.01 | 3.21 | 6.76 | 1.53 | 11.51 | 14.20 | 25.28 | | FNX33349-1 | McCreedy West | 700 FW Cu | | 8.38 | 9.45 | 1.07 | 4.73 | 1.00 | 0.01 | 3.42 | 4.40 | 0.28 | 8.10 | 4.58 | 8.15 | | | | | and | 13.87 | 18.44 | 4.57 | 4.27 | 0.27 | 0.00 | 2.44 | 2.89 | 1.08 | 6.41 | 3.59 | 6.40 | | FNX33350 | McCreedy West | 700 FW Cu | | 7.77 | 27.74 | 19.96 | 1.96 | 0.22 | 0.00 | 0.92 | 1.43 | 0.27 | 2.61 | 1.65 | 2.94 | | | | | Including | 16.92 | 17.37 | 0.46 | 29.51 | 0.20 | 0.01 | 9.21 | 7.89 | 1.59 | 18.69 | 18.88 | 33.62 | | | | | and | 27.28 | 27.74 | 0.46 | 23.42 | 0.13 | 0.00 | 7.35 | 26.74 | 4.37 | 38.46 | 18.81 | 33.49 | | FNX33351 | McCreedy West | 700 FW Cu | | 17.37 | 17.68 | 0.30 | 12.56 | 0.83 | 0.01 | 2.68 | 4.56 | 0.38 | 7.62 | 8.59 | 15.30 | | FNX33352 | McCreedy West | 700 FW Cu | | 2.29 | 3.81 | 1.52 | 0.22 | 0.19 | 0.00 | 0.63 | 0.07 | 0.63 | 1.33 | 0.57 | 1.01 | | FNX33353 | McCreedy West | 700 FW Cu | | 34.44 | 38.56 | 4.11 | 1.50 | 0.27 | 0.00 | 0.73 | 0.78 | 0.23 | 1.75 | 1.33 | 2.36 | | FNX33354* | McCreedy West | 700 FW Cu | | 24.84 | 35.97 | 11.13 | 6.79 | 0.21 | 0.00 | 1.80 | 2.15 | 3.15 | 7.10 | 5.32 | 9.47 | | | | | Including | 32.61 | 35.51 | 2.90 | 19.51 | 0.17 | 0.01 | 3.85 | 4.69 | 7.48 | 16.03 | 14.05 | 25.01 | | FNX33355 | McCreedy West | 700 FW Cu | | Assays Pending | | | | | | | | | | | | | FNX33356 | McCreedy West | 700 FW Cu | | 10.82 | 11.13 | 0.30 | 12.58 | 0.06 | 0.00 | 8.68 | 0.71 | 0.40 | 9.79 | 8.23 | 14.65 | | | | | and | 17.37 | 18.75 | 1.37 | 2.82 | 0.89 | 0.00 | 2.05 | 1.80 | 0.74 | 4.59 | 3.03 | 5.40 | | FNX33357 | McCreedy West | 700 FW Cu | | 6.10 | 17.22 | 11.13 | 1.08 | 0.21 | 0.00 | 0.91 | 0.92 | 0.38 | 2.20 | 1.13 | 2.01 | | FNX33358 | McCreedy West | 700 FW Cu | | 12.50 | 19.35 | 6.86 | 1.35 | 0.36 | 0.00 | 0.95 | 0.87 | 0.53 | 2.35 | 1.45 | 2.58 | | | | | and | 23.62 | 26.37 | 2.74 | 1.71 | 0.36 | 0.01 | 1.68 | 2.34 | 0.37 | 4.39 | 1.91 | 3.40 | | FNX33359 | McCreedy West | 700 FW Cu | | 27.28 | 29.57 | 2.29 | 1.22 | 0.08 | 0.00 | 1.98 | 2.60 | 0.84 | 5.41 | 1.62 | 2.88 | | | | | and | 34.75 | 35.81 | 1.07 | 3.07 | 2.42 | 0.01 | 2.00 | 3.69 | 1.45 | 7.14 | 4.95 | 8.82 | | FNX33360 | McCreedy West | 700 FW Cu | | 11.58 | 13.11 | 1.52 | 2.32 | 1.04 | 0.01 | 2.50 | 1.59 | 0.98 | 5.07 | 3.00 | 5.34 | | | | | and | 25.30 | 37.49 | 12.19 | 1.72 | 0.50 | 0.00 | 2.28 | 1.89 | 0.65 | 4.81 | 2.13 | 3.80 | | | | | and | 46.33 | 47.55 | 1.22 | 2.19 | 1.55 | 0.01 | 2.16 | 1.69 | 1.57 | 5.42 | 3.51 | 6.25 | | | | | and | 54.56 | 59.28 | 4.72 | 3.76 | 1.41 | 0.01 | 4.04 | 5.17 | 1.69 | 10.90 | 5.02 | 8.95 | | FNX33361* | McCreedy West | 700 FW Cu | | 155.14 | 158.04 | 2.90 | 4.30 | 5.03 | 0.07 | 1.65 | 1.86 | 0.10 | 3.61 | 7.18 | 12.78 | | FNX33362 | McCreedy West | 700 FW Cu | | 3.66 | 8.99 | 5.33 | 0.59 | 0.14 | 0.00 | 1.69 | 1.45 | 0.71 | 3.85 | 1.09 | 1.94 | | | | | and | 11.58 | 16.15 | 4.57 | 2.59 | 0.47 | 0.01 | 1.96 | 2.59 | 0.76 | 5.31 | 2.66 | 4.74 | | | | | and | 27.43 | 30.18 | 2.74 | 1.90 | 0.26 | 0.00 | 1.69 | 2.84 | 0.68 | 5.21 | 2.09 | 3.72 | | | | | and | 41.76 | 42.67 | 0.91 | 17.24 | 0.09 | 0.00 | 7.86 | 14.46 | 2.15 | 24.47 | 13.12 | 23.35 | | | | | and | 74.98 | 76.81 | 1.83 | 2.47 | 0.75 | 0.01 | 1.81 | 3.10 | 0.69 | 5.60 | 2.87 | 5.10 | | FNX33364 | McCreedy West | 700 FW Cu | | 25.60 | 25.91 | 0.30 | 3.21 | 1.76 | 0.01 | 0.15 | 2.51 | 0.14 | 2.80 | 3.65 | 6.49 | | | | | and | 34.90 | 35.20 | 0.30 | 6.14 | 0.14 | 0.01 | 1.32 | 4.52 | 0.15 | 5.99 | 4.29 | 7.64 | | | | | and | 51.82 | 53.64 | 1.83 | 1.36 | 0.41 | 0.01 | 0.62 | 0.65 | 0.25 | 1.52 | 1.34 | 2.38 | | | | | and | 77.42 | 77.72 | 0.30 | 8.32 | 0.41 | 0.00 | 3.34 | 0.82 | 3.82 | 7.98 | 6.53 | 11.62 | | FNX33365 | McCreedy West | 700 FW Cu | | Assays Pending | | | | | | | | | | | | | FNX33366 | McCreedy West | 700 FW Cu | | 25.30 | 25.60 | 0.30 | 1.35 | 2.45 | 0.01 | 1.46 | 2.75 | 0.03 | 4.24 | 3.42 | 6.08 | | | | | and | 48.77 | 49.07 | 0.30 | 5.09 | 0.47 | 0.01 | 0.44 | 7.39 | 0.96 | 8.79 | 4.54 | 8.08 | | | | | and | 66.29 | 66.90 | 0.61 | 4.22 | 0.06 | 0.00 | 3.84 | 0.89 | 0.36 | 5.09 | 3.08 | 5.49 | | | | | and | 68.73 | 69.65 | 0.91 | 1.08 | 0.25 | 0.00 | 1.38 | 0.50 | 0.48 | 2.37 | 1.20 | 2.14 | | FNX33367 | McCreedy West | 700 FW Cu | | Assays Pending | | | | | | | | | | | | | FNX33368 | McCreedy West | 700 FW Cu | | 37.49 | 40.84 | 3.35 | 1.32 | 0.45 | 0.01 | 0.84 | 1.01 | 0.42 | 2.28 | 1.49 | 2.65 | | | | | and | 67.06 | 77.88 | 10.82 | 3.03 | 0.42 | 0.00 | 4.55 | 3.13 | 1.41 | 9.09 | 3.48 | 6.20 | | | | | and | 82.30 | 84.43 | 2.13 | 3.86 | 0.58 | 0.00 | 2.41 | 2.99 | 1.40 | 6.80 | 3.74 | 6.66 | | FNX33369 | McCreedy West | 700 FW Cu | | 47.70 | 48.46 | 0.76 | 1.83 | 0.08 | 0.00 | 2.39 | 1.38 | 0.68 | 4.45 | 1.78 | 3.17 | | | | | and | 68.28 | 68.88 | 0.61 | 0.60 | 1.02 | 0.00 | 1.32 | 1.13 | 0.98 | 3.43 | 1.83 | 3.25 | | FNX33370* | McCreedy West | 700 FW Cu | | 15.24 | 23.93 | 8.69 | 0.68 | 0.10 | 0.00 | 1.01 | 0.86 | 0.31 | 2.19 | 0.81 | 1.45 | | | | | and | 49.83 | 62.64 | 12.80 | 0.96 | 0.10 | 0.00 | 2.05 | 1.46 | 0.67 | 4.19 | 1.29 | 2.30 | | | | | and | 78.33 | 87.48 | 9.14 | 3.88 | 0.93 | 0.01 | 4.11 | 4.20 | 1.11 | 9.42 | 4.38 | 7.79 | | | | | and | 97.23 | 122.83 | 25.60 | 3.53 | 0.49 | 0.00 | 7.22 | 4.73 | 2.60 | 14.56 | 4.76 | 8.48 | | | | | Including | 111.10 | 121.31 | 10.21 | 5.94 | 0.70 | 0.00 | 10.56 | 7.05 | 3.80 | 21.41 | 7.38 | 13.14 | | FNX33371-1 | McCreedy West | 700 FW Cu | | 45.26 | 45.87 | 0.61 | 25.73 | 1.02 | 0.01 | 9.16 | 17.49 | 5.57 | 32.22 | 20.09 | 35.77 | | FNX33372 | McCreedy West | 700 FW Cu | | 13.87 | 14.17 | 0.30 | 4.32 | 0.69 | 0.01 | 2.98 | 6.29 | 0.87 | 10.14 | 4.48 | 7.97 | | | | | and | 23.01 | 53.04 | 30.02 | 1.34 | 0.21 | 0.00 | 2.79 | 1.90 | 0.77 | 5.46 | 1.79 | 3.18 | | | | | Including | 38.10 | 38.86 | 0.76 | 19.02 | 0.12 | 0.00 | 6.99 | 15.48 | 4.58 | 27.05 | 14.84 | 26.43 | | | | | and | 51.66 | 53.04 | 1.37 | 2.98 | 1.06 | 0.01 | 13.72 | 5.59 | 2.73 | 22.05 | 6.01 | 10.70 | | FNX33373 | McCreedy West | 700 FW Cu | | 14.48 | 18.29 | 3.81 | 1.30 | 0.19 | 0.00 | 4.14 | 2.95 | 0.75 | 7.84 | 2.07 | 3.69 | | | | | and | 28.04 | 28.96 | 0.91 | 7.00 | 0.22 | 0.00 | 5.47 | 9.05 | 2.70 | 17.21 | 6.79 | 12.09 | | FNX33374 | McCreedy West | 700 FW Cu | | 4.88 | 6.25 | 1.37 | 2.28 | 0.40 | 0.00 | 1.21 | 1.44 | 0.30 | 2.95 | 2.03 | 3.61 | | FNX33375 | McCreedy West | 700 FW Cu | | 3.35 | 3.66 | 0.30 | 10.31 | 0.53 | 0.01 | 1.39 | 8.32 | 1.20 | 10.91 | 7.72 | 13.74 | | | | | and | 9.91 | 10.82 | 0.91 | 4.81 | 1.64 | 0.01 | 4.08 | 4.23 | 0.84 | 9.15 | 5.41 | 9.63 | | FNX33376 | McCreedy West | 700 FW Cu | | 31.24 | 32.00 | 0.76 | 1.84 | 0.47 | 0.00 | 4.79 | 3.03 | 0.78 | 8.60 | 2.71 | 4.83 | | | | | and | 37.34 | 37.95 | 0.61 | 22.80 | 0.38 | 0.01 | 8.83 | 19.31 | 25.09 | 53.23 | 24.00 | 42.74 | | FNX33377 | McCreedy West | 700 FW Cu | | 0.91 | 6.71 | 5.79 | 0.82 | 0.19 | 0.00 | 1.25 | 1.08 | 0.35 | 2.67 | 1.04 | 1.85 | | | | | and | 18.14 | 19.66 | 1.52 | 4.11 | 1.26 | 0.01 | 4.48 | 4.92 | 1.91 | 11.31 | 5.18 | 9.22 | | | | | and | 34.44 | 39.93 | 5.49 | 1.17 | 0.19 | 0.00 | 10.25 | 3.66 | 2.45 | 16.36 | 3.47 | 6.17 | | FNX33379 | McCreedy West | 700 FW Cu | | 3.20 | 3.66 | 0.46 | 4.26 | 1.71 | 0.00 | 1.04 | 3.49 | 0.57 | 5.10 | 4.56 | 8.11 | | | | | and | 26.52 | 29.26 | 2.74 | 1.21 | 2.52 | 0.01 | 2.82 | 2.48 | 0.77 | 6.07 | 3.77 | 6.72 | | FNX33380 | McCreedy West | 700 FW Cu | | Assays Pending | | | | | | | | | | | | | FNX33385 | McCreedy West | 700 FW Cu | | 7.16 | 14.17 | 7.01 | 2.66 | 0.37 | 0.00 | 1.42 | 2.12 | 3.39 | 6.93 | 3.25 | 5.79 | | | | | and | 42.06 | 42.82 | 0.76 | 28.90 | 0.95 | 0.04 | 0.50 | 1.37 | 0.28 | 2.15 | 16.70 | 29.73 | | FNX33386 | McCreedy West | 700 FW Cu | | 10.06 | 10.97 | 0.91 | 4.62 | 1.42 | 0.01 | 2.06 | 3.37 | 0.46 | 5.89 | 4.60 | 8.19 | | FNX33390 | McCreedy West | 700 FW Cu | | 68.12 | 68.73 | 0.61 | 27.62 | 0.19 | 0.01 | 0.33 | 1.49 | 1.19 | 3.01 | 15.60 | 27.77 | | | | | and | 79.25 | 79.55 | 0.30 | 19.70 | 0.16 | 0.00 | 1.02 | 4.82 | 0.88 | 6.72 | 11.79 | 21.00 | | FNX33391 | McCreedy West | 700 FW Cu | | Assays Pending | | | | | | | | | | | | | FNX33392 | McCreedy West | 700 FW Cu | | Assays Pending | | | | | | | | | | | | | FNX33393 | McCreedy West | 700 FW Cu | | 69.95 | 71.17 | 1.22 | 4.56 | 0.19 | 0.00 | 0.41 | 1.89 | 0.15 | 2.45 | 2.98 | 5.31 | | | | | and | 87.63 | 88.85 | 1.22 | 5.43 | 0.18 | 0.00 | 0.36 | 1.24 | 0.18 | 1.78 | 3.35 | 5.96 |

*Previously Released All lengths are downhole length. True widths are uncertain at this time. Ni Eq % = (Ni% x 85% Recovery 2204 x Ni Price $/lb) + (Cu% x 96% Recovery x 2204 x Cu Price $/lb) + (Co% x 56% Recovery x 2204 x Co Price $/lb) + (Pt gpt x 69% Recovery / 31.1035 x Pt $/oz) +(Pd gpt x 68% Recovery / 31.1035 x Pd $/oz) + (Au gpt x 68% Recovery / 31.1035 x Au $/oz))/2204 x Ni $/lb. Cu Eq % = (Ni% x 85% Recovery 2204 x Ni Price $/lb) + (Cu% x 96% Recovery x 2204 x Cu Price $/lb) + (Co% x 56% Recovery x 2204 x Co Price $/lb) + (Pt gpt x 69% Recovery / 31.1035 x Pt $/oz) +(Pd gpt x 68% Recovery / 31.1035 x Pd $/oz) + (Au gpt x 68% Recovery / 31.1035 x Au $/oz))/2204 x Cui $/lb. Metal prices in US$: $7.30/lb Ni, $4.10/lb Cu, $15.00/lb Co, $1,000/oz Pt, $1,050/oz Pd and $2,200/oz Au.

Table 2: Drillhole Collar Coordinates

| BHID | Easting | Northing | Elevation | Azimuth | Dip | Depth(m) | | MLV-25-07 | 471846 | 5166794 | 335.0 | 298.0 | -54.0 | 383.0 | | MLV-25-08 | 471844 | 5166794 | 336.0 | 308.0 | -51.0 | 345.0 | | FNX33323 | 469649 | 5164908 | 1.9 | 183.2 | 16.6 | 107.9 | | FNX33325 | 469649 | 5164908 | 1.7 | 190.6 | 13.2 | 146.3 | | FNX33344 | 469760 | 5164831 | -15.5 | 189.6 | 38.9 | 36.6 | | FNX33345 | 469760 | 5164831 | -17.3 | 189.4 | 3.0 | 6.1 | | FNX33346 | 469760 | 5164831 | -19.6 | 189.5 | -43.1 | 45.7 | | FNX33347 | 469759 | 5164832 | -17.3 | 218.2 | 27.6 | 33.5 | | FNX33348 | 469759 | 5164832 | -18.0 | 218.4 | 2.6 | 30.5 | | FNX33349-1 | 469759 | 5164832 | -17.8 | 240.1 | -21.9 | 91.4 | | FNX33350 | 469759 | 5164832 | -18.8 | 218.6 | -31.3 | 42.7 | | FNX33351 | 469759 | 5164832 | -17.7 | 231.6 | 29.8 | 27.4 | | FNX33352 | 469759 | 5164832 | -17.3 | 232.4 | -12.0 | 6.7 | | FNX33353 | 469759 | 5164833 | -17.9 | 241.0 | 8.0 | 39.6 | | FNX33354 | 469759 | 5164833 | -17.9 | 252.0 | 10.9 | 33.5 | | FNX33355 | 469759 | 5164833 | -18.3 | 250.7 | -13.2 | 39.6 | | FNX33356 | 469759 | 5164833 | -18.2 | 265.8 | -5.5 | 36.6 | | FNX33357 | 469759 | 5164833 | -19.3 | 268.5 | -5.7 | 24.4 | | FNX33358 | 469758 | 5164834 | -18.5 | 288.4 | -9.9 | 36.6 | | FNX33359 | 469764 | 5164987 | 39.4 | 267.3 | -21.0 | 34.7 | | FNX33360 | 469835 | 5164878 | -48.6 | 222.8 | 3.1 | 60.8 | | FNX33361 | 469836 | 5164877 | -47.8 | 204.4 | 2.0 | 161.5 | | FNX33362 | 469835 | 5164878 | -47.7 | 214.5 | 3.1 | 141.7 | | FNX33364 | 469767 | 5164986 | 39.6 | 202.5 | -5.8 | 62.8 | | FNX33365 | 469766 | 5164986 | 39.7 | 214.9 | -2.8 | 128.6 | | FNX33366 | 469766 | 5164986 | 39.6 | 213.6 | -6.1 | 72.4 | | FNX33367 | 469766 | 5164986 | 39.6 | 218.8 | -5.7 | 135.6 | | FNX33368 | 469765 | 5164987 | 40.2 | 233.3 | 3.5 | 85.3 | | FNX33369 | 469765 | 5164987 | 39.8 | 232.2 | -7.1 | 79.2 | | FNX33370 | 469764 | 5164988 | 40.2 | 261.3 | -0.5 | 137.2 | | FNX33371-1 | 469763 | 5164988 | 40.2 | 270.5 | -5.3 | 73.2 | | FNX33372 | 469763 | 5164988 | 39.2 | 270.2 | -15.7 | 54.9 | | FNX33373 | 469763 | 5164988 | 38.9 | 271.7 | -27.2 | 32.9 | | FNX33374 | 469766 | 5164995 | 39.8 | 296.6 | 10.5 | 54.9 | | FNX33375 | 469767 | 5164996 | 40.0 | -32.4 | 16.1 | 30.5 | | FNX33376 | 469767 | 5164996 | 39.4 | -31.8 | -1.8 | 41.1 | | FNX33377 | 469767 | 5164996 | 38.3 | -32.9 | -25.4 | 42.7 | | FNX33379 | 469768 | 5164997 | 39.4 | -13.2 | -1.3 | 39.6 | | FNX33380 | 469768 | 5164997 | 38.8 | -12.1 | -14.6 | 36.6 | | FNX33385 | 469764 | 5164835 | -16.8 | 82.5 | 13.8 | 51.8 | | FNX33386 | 469764 | 5164835 | -17.4 | 84.4 | -11.5 | 64.0 | | FNX33390 | 469777 | 5164856 | 58.3 | 271.3 | 3.8 | 89.9 | | FNX33391 | 469777 | 5164856 | 58.1 | 283.0 | 12.4 | 106.7 | | FNX33392 | 469777 | 5164857 | 57.9 | 301.7 | 7.1 | 115.8 | | FNX33393 | 469777 | 5164857 | 58.0 | 309.3 | 10.8 | 97.5 |