# Magna Mining Reports Results of Levack Mine Preliminary Economic Assessment and Approves Restart of Production Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42 Original source: https://www.globenewswire.com/news-release/2026/10/08/3377092/0/en/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and-approves-restart-of-production.html Publisher: globenewswire Original announcement: 2026-10-08T00:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-08T13:11:23.801Z Atlas analysis updated: 2026-10-08T13:11:23.801Z - Company: Magna Mining Inc. - Ticker: NICU - Exchange: Unavailable - Region: northeastern Ontario, Canada - Primary commodity: Nickel - Secondary commodities: Copper, Platinum, Palladium, Gold, Silver, Cobalt - Document categories: Other, Resource update - Extracted: 2026-10-08 13:11:24 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Magna Mining announced robust results from a Preliminary Economic Assessment \(PEA\) for the restart of its fully-permitted Levack Mine in the Sudbury Basin, Ontario. The PEA outlines a 7.3-year mine life with an after-tax NPV7% of C$227.0 million and an impressive after-tax IRR of 92.4%, with a rapid payback period of 0.6 years. Based on these strong economics and low initial capital requirements, the company's Board of Directors has formally approved the restart of production. Reasoning: The Preliminary Economic Assessment \(PEA\) for the Levack Mine restart demonstrates robust economics with a high after-tax IRR and rapid payback, supported by existing infrastructure and low initial capital. This has led to the formal approval for production restart, indicating strong company confidence despite the preliminary nature of the study and the absence of declared mineral reserves. - Positive factor: High IRR \(92.4% after-tax\) - Positive factor: Rapid payback \(0.6 years\) - Positive factor: Low initial capital \(net funding of C$8.6 million\) - Positive factor: Existing infrastructure - Positive factor: Formal approval for mine restart - Positive factor: Potential for further optimization and inclusion of R2 Footwall Zone - Negative factor: PEA is preliminary in nature - Negative factor: No mineral reserves declared - Negative factor: Reliance on Inferred resources \(2.1 million short tons in PEA inventory\) - Negative factor: Risks associated with historic mined-out stopes and voids Facts used in scoring: 49 ## Classification and evidence **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: The document reports the results of a Preliminary Economic Assessment \(PEA\). Evidence · text > Magna Mining Reports Results of Levack Mine Preliminary Economic Assessment **Low Initial Capex** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Initial capital costs are estimated to be $70.1 million, with a calculated net initial funding requirement of $8.6 million. Evidence · text > Initial capital costs from January 1, 2027 to the start of commercial production are estimated to be $70.1 million, after incorporating equipment financing timing effects. This initial capital is estimated to be offset by refundable tax credits 3 of approximately $5.6 million and expected pre-commercial production operating cash flow of approximately $55.9 million using base case price assumptions 1 , leaving a calculated net initial funding requirement of $8.6 million. **Rapid Payback** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The Levack PEA estimates payback in 0.6 years. Evidence · text > the Levack PEA estimates payback in 0.6 years **High IRR** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The after-tax Internal Rate of Return \(“IRR”\) is 92.4%. Evidence · text > an after-tax Internal Rate of Return \(“IRR”\) of 92.4% **No Reserves** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company's Board of Directors approved the restart while acknowledging that there are no supporting mineral reserves with demonstrated economic viability. Evidence · text > while acknowledging that there are no supporting mineral reserves with demonstrated economic viability **Preliminary Study** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: The PEA is explicitly stated as preliminary in nature. Evidence · text > The PEA is preliminary in nature **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document includes an updated Mineral Resource Estimate for the Levack Mine. Evidence · text > updated Levack Mine Mineral Resource Estimate \(MRE\) **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The resource summary includes an Indicated category. Evidence · table > Indicated Context: Indicated **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource summary includes an Inferred category, and 2.1 million short tons of the PEA inventory are classified as Inferred. Evidence · table > Inferred Context: Inferred **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Jonathan Cirelli, P.Geo, is named as an independent Qualified Person responsible for the MRE. Evidence · text > Jonathan Cirelli, P.Geo, Senior Geologist of Orix Geoscience Inc. is an independent Qualified Person as defined by NI 43-101 and is responsible for the current Levack Mine MRE **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The PEA and MRE were prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 ## Extracted facts Stored fact records: 48. Some facts used in scoring do not have a stored record. ## Resource Estimates (48) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-1) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:deb41162cf21fabf23a4 - Deposit or zone: Contact - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 6763000.575 - Grade: 0.83 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Contact zone with stated copper grade and cut-off, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 0.83 Context: 7,455,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-2) Levack Mine · nickel #### Identity - Project: Levack Mine - Commodity: nickel - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:deb41162cf21fabf23a4 - Deposit or zone: Contact - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 6763000.575 - Grade: 1.46 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Contact zone with stated nickel grade and cut-off, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 1.46 Context: 7,455,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-3) Levack Mine · cobalt #### Identity - Project: Levack Mine - Commodity: cobalt - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:deb41162cf21fabf23a4 - Deposit or zone: Contact - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 6763000.575 - Grade: 0.05 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Contact zone with stated cobalt grade and cut-off, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 0.05 Context: 7,455,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-4) Levack Mine · platinum #### Identity - Project: Levack Mine - Commodity: platinum - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:deb41162cf21fabf23a4 - Deposit or zone: Contact - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 6763000.575 - Grade: 0.42 - Grade Unit: g/tonne - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Contact zone with stated platinum grade and cut-off, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 0.42 Context: 7,455,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-5) Levack Mine · palladium #### Identity - Project: Levack Mine - Commodity: palladium - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:deb41162cf21fabf23a4 - Deposit or zone: Contact - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 6763000.575 - Grade: 0.51 - Grade Unit: g/tonne - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Contact zone with stated palladium grade and cut-off, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 0.51 Context: 7,455,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-6) Levack Mine · gold #### Identity - Project: Levack Mine - Commodity: gold - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:deb41162cf21fabf23a4 - Deposit or zone: Contact - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 6763000.575 - Grade: 0.06 - Grade Unit: g/tonne - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Contact zone with stated gold grade and cut-off, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 0.06 Context: 7,455,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-7) Levack Mine · silver #### Identity - Project: Levack Mine - Commodity: silver - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:deb41162cf21fabf23a4 - Deposit or zone: Contact - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 6763000.575 - Grade: 0.92 - Grade Unit: g/tonne - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Contact zone with stated silver grade and cut-off, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 0.92 Context: 7,455,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-8) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:deb41162cf21fabf23a4 - Deposit or zone: Contact - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 6763000.575 - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Metal Eq. Grade: 3.09 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Contact zone with stated copper equivalent grade and cut-off, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 3.09 Context: 7,455,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-9) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:990d4dd3f658aa99d165 - Deposit or zone: Footwall - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 311170.655 - Grade: 7.4 - Grade Unit: % - Cutoff Grade: 2.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Footwall zone with high copper grade and stated cut-off, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Positive factor: High copper grade Evidence · table > 7.40 Context: 343,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-10) Levack Mine · nickel #### Identity - Project: Levack Mine - Commodity: nickel - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:990d4dd3f658aa99d165 - Deposit or zone: Footwall - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 311170.655 - Grade: 1.86 - Grade Unit: % - Cutoff Grade: 2.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Footwall zone with high nickel grade and stated cut-off, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Positive factor: High nickel grade Evidence · table > 1.86 Context: 343,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-11) Levack Mine · cobalt #### Identity - Project: Levack Mine - Commodity: cobalt - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:990d4dd3f658aa99d165 - Deposit or zone: Footwall - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 311170.655 - Grade: 0.01 - Grade Unit: % - Cutoff Grade: 2.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Footwall zone with stated cobalt grade and cut-off, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 0.01 Context: 343,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-12) Levack Mine · platinum #### Identity - Project: Levack Mine - Commodity: platinum - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:990d4dd3f658aa99d165 - Deposit or zone: Footwall - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 311170.655 - Grade: 2.88 - Grade Unit: g/tonne - Cutoff Grade: 2.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Footwall zone with high platinum grade and stated cut-off, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Positive factor: High platinum grade Evidence · table > 2.88 Context: 343,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-13) Levack Mine · palladium #### Identity - Project: Levack Mine - Commodity: palladium - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:990d4dd3f658aa99d165 - Deposit or zone: Footwall - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 311170.655 - Grade: 5.25 - Grade Unit: g/tonne - Cutoff Grade: 2.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Footwall zone with high palladium grade and stated cut-off, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Positive factor: High palladium grade Evidence · table > 5.25 Context: 343,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-14) Levack Mine · gold #### Identity - Project: Levack Mine - Commodity: gold - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:990d4dd3f658aa99d165 - Deposit or zone: Footwall - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 311170.655 - Grade: 1.29 - Grade Unit: g/tonne - Cutoff Grade: 2.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Footwall zone with high gold grade and stated cut-off, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Positive factor: High gold grade Evidence · table > 1.29 Context: 343,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-15) Levack Mine · silver #### Identity - Project: Levack Mine - Commodity: silver - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:990d4dd3f658aa99d165 - Deposit or zone: Footwall - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 311170.655 - Grade: 29.15 - Grade Unit: g/tonne - Cutoff Grade: 2.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Footwall zone with high silver grade and stated cut-off, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Positive factor: High silver grade Evidence · table > 29.15 Context: 343,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-16) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:990d4dd3f658aa99d165 - Deposit or zone: Footwall - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 311170.655 - Cutoff Grade: 2.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Metal Eq. Grade: 12.4 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Indicated resource for Footwall zone with high copper equivalent grade and stated cut-off, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Positive factor: High copper equivalent grade Evidence · table > 12.40 Context: 343,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-17) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:fcda0d7bbaa3a75e6e2c - Deposit or zone: Total Indicated - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 7075000.03 - Grade: 1.12 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Indicated resource with stated copper grade, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 1.12 Context: 7,798,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-18) Levack Mine · nickel #### Identity - Project: Levack Mine - Commodity: nickel - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:fcda0d7bbaa3a75e6e2c - Deposit or zone: Total Indicated - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 7075000.03 - Grade: 1.48 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Indicated resource with stated nickel grade, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 1.48 Context: 7,798,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-19) Levack Mine · cobalt #### Identity - Project: Levack Mine - Commodity: cobalt - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:fcda0d7bbaa3a75e6e2c - Deposit or zone: Total Indicated - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 7075000.03 - Grade: 0.05 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Indicated resource with stated cobalt grade, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 0.05 Context: 7,798,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-20) Levack Mine · platinum #### Identity - Project: Levack Mine - Commodity: platinum - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:fcda0d7bbaa3a75e6e2c - Deposit or zone: Total Indicated - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 7075000.03 - Grade: 0.52 - Grade Unit: g/tonne - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Indicated resource with stated platinum grade, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 0.52 Context: 7,798,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-21) Levack Mine · palladium #### Identity - Project: Levack Mine - Commodity: palladium - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:fcda0d7bbaa3a75e6e2c - Deposit or zone: Total Indicated - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 7075000.03 - Grade: 0.71 - Grade Unit: g/tonne - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Indicated resource with stated palladium grade, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 0.71 Context: 7,798,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-22) Levack Mine · gold #### Identity - Project: Levack Mine - Commodity: gold - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:fcda0d7bbaa3a75e6e2c - Deposit or zone: Total Indicated - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 7075000.03 - Grade: 0.12 - Grade Unit: g/tonne - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Indicated resource with stated gold grade, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 0.12 Context: 7,798,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-23) Levack Mine · silver #### Identity - Project: Levack Mine - Commodity: silver - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:fcda0d7bbaa3a75e6e2c - Deposit or zone: Total Indicated - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 7075000.03 - Grade: 2.16 - Grade Unit: g/tonne - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Indicated resource with stated silver grade, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 2.16 Context: 7,798,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-24) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:fcda0d7bbaa3a75e6e2c - Deposit or zone: Total Indicated - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 7075000.03 - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Metal Eq. Grade: 3.5 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Indicated resource with stated copper equivalent grade, supporting the overall project economics. - Positive factor: Indicated Resource category - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed Evidence · table > 3.50 Context: 7,798,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-25) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:f9025d853444349f1dc5 - Deposit or zone: Contact - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 4802600.49 - Grade: 0.86 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Contact zone with stated copper grade and cut-off, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Negative factor: Inferred Resource category Evidence · table > 0.86 Context: 5,294,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-26) Levack Mine · nickel #### Identity - Project: Levack Mine - Commodity: nickel - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:f9025d853444349f1dc5 - Deposit or zone: Contact - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 4802600.49 - Grade: 1.47 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Contact zone with stated nickel grade and cut-off, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Negative factor: Inferred Resource category Evidence · table > 1.47 Context: 5,294,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-27) Levack Mine · cobalt #### Identity - Project: Levack Mine - Commodity: cobalt - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:f9025d853444349f1dc5 - Deposit or zone: Contact - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 4802600.49 - Grade: 0.04 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Contact zone with stated cobalt grade and cut-off, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Negative factor: Inferred Resource category Evidence · table > 0.04 Context: 5,294,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-28) Levack Mine · platinum #### Identity - Project: Levack Mine - Commodity: platinum - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:f9025d853444349f1dc5 - Deposit or zone: Contact - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 4802600.49 - Grade: 0.39 - Grade Unit: g/tonne - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Contact zone with stated platinum grade and cut-off, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Negative factor: Inferred Resource category Evidence · table > 0.39 Context: 5,294,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-29) Levack Mine · palladium #### Identity - Project: Levack Mine - Commodity: palladium - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:f9025d853444349f1dc5 - Deposit or zone: Contact - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 4802600.49 - Grade: 0.4 - Grade Unit: g/tonne - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Contact zone with stated palladium grade and cut-off, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Negative factor: Inferred Resource category Evidence · table > 0.40 Context: 5,294,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-30) Levack Mine · gold #### Identity - Project: Levack Mine - Commodity: gold - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:f9025d853444349f1dc5 - Deposit or zone: Contact - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 4802600.49 - Grade: 0.05 - Grade Unit: g/tonne - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Contact zone with stated gold grade and cut-off, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Negative factor: Inferred Resource category Evidence · table > 0.05 Context: 5,294,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-31) Levack Mine · silver #### Identity - Project: Levack Mine - Commodity: silver - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:f9025d853444349f1dc5 - Deposit or zone: Contact - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 4802600.49 - Grade: 0.67 - Grade Unit: g/tonne - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Contact zone with stated silver grade and cut-off, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Negative factor: Inferred Resource category Evidence · table > 0.67 Context: 5,294,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-32) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:f9025d853444349f1dc5 - Deposit or zone: Contact - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 4802600.49 - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Metal Eq. Grade: 3.08 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Contact zone with stated copper equivalent grade and cut-off, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Negative factor: Inferred Resource category Evidence · table > 3.08 Context: 5,294,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-33) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:8bcb909ff52d19e64bed - Deposit or zone: Footwall - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 488000.73 - Grade: 5.28 - Grade Unit: % - Cutoff Grade: 2.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Footwall zone with high copper grade and stated cut-off, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Positive factor: High copper grade - Negative factor: Inferred Resource category Evidence · table > 5.28 Context: 538,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-34) Levack Mine · nickel #### Identity - Project: Levack Mine - Commodity: nickel - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:8bcb909ff52d19e64bed - Deposit or zone: Footwall - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 488000.73 - Grade: 0.78 - Grade Unit: % - Cutoff Grade: 2.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Footwall zone with stated nickel grade and cut-off, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Negative factor: Inferred Resource category Evidence · table > 0.78 Context: 538,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-35) Levack Mine · cobalt #### Identity - Project: Levack Mine - Commodity: cobalt - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:8bcb909ff52d19e64bed - Deposit or zone: Footwall - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 488000.73 - Grade: 0.01 - Grade Unit: % - Cutoff Grade: 2.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Footwall zone with stated cobalt grade and cut-off, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Negative factor: Inferred Resource category Evidence · table > 0.01 Context: 538,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-36) Levack Mine · platinum #### Identity - Project: Levack Mine - Commodity: platinum - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:8bcb909ff52d19e64bed - Deposit or zone: Footwall - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 488000.73 - Grade: 2.53 - Grade Unit: g/tonne - Cutoff Grade: 2.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Footwall zone with high platinum grade and stated cut-off, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Positive factor: High platinum grade - Negative factor: Inferred Resource category Evidence · table > 2.53 Context: 538,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-37) Levack Mine · palladium #### Identity - Project: Levack Mine - Commodity: palladium - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:8bcb909ff52d19e64bed - Deposit or zone: Footwall - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 488000.73 - Grade: 4.78 - Grade Unit: g/tonne - Cutoff Grade: 2.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Footwall zone with high palladium grade and stated cut-off, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Positive factor: High palladium grade - Negative factor: Inferred Resource category Evidence · table > 4.78 Context: 538,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-38) Levack Mine · gold #### Identity - Project: Levack Mine - Commodity: gold - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:8bcb909ff52d19e64bed - Deposit or zone: Footwall - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 488000.73 - Grade: 1.36 - Grade Unit: g/tonne - Cutoff Grade: 2.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Footwall zone with high gold grade and stated cut-off, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Positive factor: High gold grade - Negative factor: Inferred Resource category Evidence · table > 1.36 Context: 538,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-39) Levack Mine · silver #### Identity - Project: Levack Mine - Commodity: silver - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:8bcb909ff52d19e64bed - Deposit or zone: Footwall - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 488000.73 - Grade: 20.56 - Grade Unit: g/tonne - Cutoff Grade: 2.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Footwall zone with high silver grade and stated cut-off, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Positive factor: High silver grade - Negative factor: Inferred Resource category Evidence · table > 20.56 Context: 538,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-40) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:8bcb909ff52d19e64bed - Deposit or zone: Footwall - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 488000.73 - Cutoff Grade: 2.5 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Metal Eq. Grade: 8.78 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Inferred resource for Footwall zone with high copper equivalent grade and stated cut-off, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Positive factor: High copper equivalent grade - Negative factor: Inferred Resource category Evidence · table > 8.78 Context: 538,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-41) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:3c4833ae60d30f0a0468 - Deposit or zone: Total Inferred - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 5290601.28 - Grade: 1.27 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Inferred resource with stated copper grade, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Negative factor: Inferred Resource category Evidence · table > 1.27 Context: 5,832,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-42) Levack Mine · nickel #### Identity - Project: Levack Mine - Commodity: nickel - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:3c4833ae60d30f0a0468 - Deposit or zone: Total Inferred - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 5290601.28 - Grade: 1.41 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Inferred resource with stated nickel grade, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Negative factor: Inferred Resource category Evidence · table > 1.41 Context: 5,832,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-43) Levack Mine · cobalt #### Identity - Project: Levack Mine - Commodity: cobalt - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:3c4833ae60d30f0a0468 - Deposit or zone: Total Inferred - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 5290601.28 - Grade: 0.04 - Grade Unit: % - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Inferred resource with stated cobalt grade, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Negative factor: Inferred Resource category Evidence · table > 0.04 Context: 5,832,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-44) Levack Mine · platinum #### Identity - Project: Levack Mine - Commodity: platinum - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:3c4833ae60d30f0a0468 - Deposit or zone: Total Inferred - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 5290601.28 - Grade: 0.58 - Grade Unit: g/tonne - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Inferred resource with stated platinum grade, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Negative factor: Inferred Resource category Evidence · table > 0.58 Context: 5,832,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-45) Levack Mine · palladium #### Identity - Project: Levack Mine - Commodity: palladium - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:3c4833ae60d30f0a0468 - Deposit or zone: Total Inferred - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 5290601.28 - Grade: 0.8 - Grade Unit: g/tonne - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Inferred resource with stated palladium grade, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Negative factor: Inferred Resource category Evidence · table > 0.80 Context: 5,832,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-46) Levack Mine · gold #### Identity - Project: Levack Mine - Commodity: gold - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:3c4833ae60d30f0a0468 - Deposit or zone: Total Inferred - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 5290601.28 - Grade: 0.17 - Grade Unit: g/tonne - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Inferred resource with stated gold grade, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Negative factor: Inferred Resource category Evidence · table > 0.17 Context: 5,832,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-47) Levack Mine · silver #### Identity - Project: Levack Mine - Commodity: silver - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:3c4833ae60d30f0a0468 - Deposit or zone: Total Inferred - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 5290601.28 - Grade: 2.51 - Grade Unit: g/tonne - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Inferred resource with stated silver grade, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Negative factor: Inferred Resource category Evidence · table > 2.51 Context: 5,832,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and--977868fb-2e6d-4e3d-88ce-7aaa22690d42#fact-resource-facts-48) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:3c4833ae60d30f0a0468 - Deposit or zone: Total Inferred - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 5290601.28 - Cutoff Grade: 2 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2025-08-31 #### Metal Equivalent - Metal Eq. Grade: 3.61 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: Total Inferred resource with stated copper equivalent grade, contributing to the overall project economics but with lower confidence. - Positive factor: QP/CP Signed - Positive factor: NI 43-101 Compliant - Positive factor: Metal Equivalent Assumptions Disclosed - Negative factor: Inferred Resource category Evidence · table > 3.61 Context: 5,832,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.