# 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--f69ae65a-5345-4358-9cce-dd0418885074 Original source: https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2983-tsx/nicu/212554-magna-mining-reports-results-of-levack-mine-preliminary-economic-assessment-and-approves-restart-of-production.html Publisher: jmn Original announcement: 2026-10-08T22:16:05.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-08T12:25:39.218Z Atlas analysis updated: 2026-10-08T12:25:39.218Z - Company: Magna Mining Inc. - Ticker: NICU - Exchange: TSX - Region: Ontario - Primary commodity: Nickel - Secondary commodities: Copper, Gold, Platinum, Palladium, Silver, Cobalt - Document categories: Other, Resource update - Extracted: 2026-10-08 12:25:39 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Magna Mining Inc. announced robust results from a Preliminary Economic Assessment \(PEA\) for the restart of its fully-permitted Levack Mine in Ontario, Canada. The PEA outlines a 7.3-year mine life with an after-tax NPV7% of C$227.0 million and an IRR of 92.4%, with a rapid payback 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 for the Levack Mine demonstrates robust economics with a high after-tax IRR of 92.4% and a rapid payback of 0.6 years, leading to the Board's formal approval to restart production. The project benefits from low initial capital due to existing infrastructure, though the study's preliminary nature and reliance on Inferred resources without declared reserves introduce some risk. - Positive factor: robust\_economics - Positive factor: high\_irr - Positive factor: rapid\_payback - Positive factor: positive\_npv - Positive factor: low\_initial\_capital - Positive factor: existing\_infrastructure - Positive factor: formal\_production\_restart\_approval - Negative factor: preliminary\_study\_nature - Negative factor: inferred\_resource\_basis - Negative factor: no\_mineral\_reserves\_declared - Negative factor: uncertainty\_of\_achieving\_targets Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 49 ## Classification and evidence No classification tags are available. ## 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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-1) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:ebd0ed0d1efeb05e81e5 - Deposit or zone: Contact - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 6763000 - 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 copper in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed Evidence · table > 0.83 Context: 7,455,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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" **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-2) Levack Mine · nickel #### Identity - Project: Levack Mine - Commodity: nickel - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:ebd0ed0d1efeb05e81e5 - Deposit or zone: Contact - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 6763000 - 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 nickel in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed Evidence · table > 1.46 Context: 7,455,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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" **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-3) Levack Mine · cobalt #### Identity - Project: Levack Mine - Commodity: cobalt - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:ebd0ed0d1efeb05e81e5 - Deposit or zone: Contact - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 6763000 - 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 cobalt in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed Evidence · table > 0.05 Context: 7,455,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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" **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-4) Levack Mine · platinum #### Identity - Project: Levack Mine - Commodity: platinum - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:ebd0ed0d1efeb05e81e5 - Deposit or zone: Contact - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 6763000 - 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 platinum in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed Evidence · table > 0.42 Context: 7,455,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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" **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-5) Levack Mine · palladium #### Identity - Project: Levack Mine - Commodity: palladium - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:ebd0ed0d1efeb05e81e5 - Deposit or zone: Contact - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 6763000 - 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 palladium in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed Evidence · table > 0.51 Context: 7,455,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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" **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-6) Levack Mine · gold #### Identity - Project: Levack Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:ebd0ed0d1efeb05e81e5 - Deposit or zone: Contact - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 6763000 - 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 gold in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed Evidence · table > 0.06 Context: 7,455,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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" **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-7) Levack Mine · silver #### Identity - Project: Levack Mine - Commodity: silver - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:ebd0ed0d1efeb05e81e5 - Deposit or zone: Contact - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 6763000 - 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 silver in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed Evidence · table > 0.92 Context: 7,455,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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" **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-8) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:ebd0ed0d1efeb05e81e5 - Deposit or zone: Contact - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 6763000 - 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 copper equivalent in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed Evidence · table > 3.09 Context: 7,455,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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" **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-9) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:29db3d99fda949738612 - Deposit or zone: Footwall - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 311100 - 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 copper in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed Evidence · table > 7.40 Context: 343,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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" **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-10) Levack Mine · nickel #### Identity - Project: Levack Mine - Commodity: nickel - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:29db3d99fda949738612 - Deposit or zone: Footwall - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 311100 - 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 nickel in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed Evidence · table > 1.86 Context: 343,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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" **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-11) Levack Mine · cobalt #### Identity - Project: Levack Mine - Commodity: cobalt - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:29db3d99fda949738612 - Deposit or zone: Footwall - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 311100 - 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 cobalt in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed Evidence · table > 0.01 Context: 343,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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" **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-12) Levack Mine · platinum #### Identity - Project: Levack Mine - Commodity: platinum - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:29db3d99fda949738612 - Deposit or zone: Footwall - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 311100 - 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 platinum in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed Evidence · table > 2.88 Context: 343,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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" **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-13) Levack Mine · palladium #### Identity - Project: Levack Mine - Commodity: palladium - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:29db3d99fda949738612 - Deposit or zone: Footwall - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 311100 - 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 palladium in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed Evidence · table > 5.25 Context: 343,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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" **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-14) Levack Mine · gold #### Identity - Project: Levack Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:29db3d99fda949738612 - Deposit or zone: Footwall - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 311100 - 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 gold in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed Evidence · table > 1.29 Context: 343,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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" **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-15) Levack Mine · silver #### Identity - Project: Levack Mine - Commodity: silver - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:29db3d99fda949738612 - Deposit or zone: Footwall - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 311100 - 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 silver in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed Evidence · table > 29.15 Context: 343,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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" **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-16) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:29db3d99fda949738612 - Deposit or zone: Footwall - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 311100 - 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 copper equivalent in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed Evidence · table > 12.40 Context: 343,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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" **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-17) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:62fbe7f89f5cf09ed360 - Deposit or zone: Total Indicated - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 7075000 - 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 for copper at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed Evidence · table > 1.12 Context: 7,798,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-18) Levack Mine · nickel #### Identity - Project: Levack Mine - Commodity: nickel - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:62fbe7f89f5cf09ed360 - Deposit or zone: Total Indicated - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 7075000 - 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 for nickel at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed Evidence · table > 1.48 Context: 7,798,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-19) Levack Mine · cobalt #### Identity - Project: Levack Mine - Commodity: cobalt - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:62fbe7f89f5cf09ed360 - Deposit or zone: Total Indicated - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 7075000 - 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 for cobalt at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed Evidence · table > 0.05 Context: 7,798,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-20) Levack Mine · platinum #### Identity - Project: Levack Mine - Commodity: platinum - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:62fbe7f89f5cf09ed360 - Deposit or zone: Total Indicated - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 7075000 - 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 for platinum at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed Evidence · table > 0.52 Context: 7,798,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-21) Levack Mine · palladium #### Identity - Project: Levack Mine - Commodity: palladium - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:62fbe7f89f5cf09ed360 - Deposit or zone: Total Indicated - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 7075000 - 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 for palladium at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed Evidence · table > 0.71 Context: 7,798,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-22) Levack Mine · gold #### Identity - Project: Levack Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:62fbe7f89f5cf09ed360 - Deposit or zone: Total Indicated - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 7075000 - 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 for gold at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed Evidence · table > 0.12 Context: 7,798,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-23) Levack Mine · silver #### Identity - Project: Levack Mine - Commodity: silver - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:62fbe7f89f5cf09ed360 - Deposit or zone: Total Indicated - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 7075000 - 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 for silver at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed Evidence · table > 2.16 Context: 7,798,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-24) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:62fbe7f89f5cf09ed360 - Deposit or zone: Total Indicated - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 7075000 - 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 for copper equivalent at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed Evidence · table > 3.50 Context: 7,798,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **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 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-25) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:8b4496eb06adcca52051 - Deposit or zone: Contact - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 4802000 - 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 copper in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed - Negative factor: inferred\_resource Evidence · table > 0.86 Context: 5,294,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 5,294,000 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-26) Levack Mine · nickel #### Identity - Project: Levack Mine - Commodity: nickel - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:8b4496eb06adcca52051 - Deposit or zone: Contact - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 4802000 - 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 nickel in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed - Negative factor: inferred\_resource Evidence · table > 1.47 Context: 5,294,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 5,294,000 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-27) Levack Mine · cobalt #### Identity - Project: Levack Mine - Commodity: cobalt - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:8b4496eb06adcca52051 - Deposit or zone: Contact - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 4802000 - 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 cobalt in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed - Negative factor: inferred\_resource Evidence · table > 0.04 Context: 5,294,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 5,294,000 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-28) Levack Mine · platinum #### Identity - Project: Levack Mine - Commodity: platinum - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:8b4496eb06adcca52051 - Deposit or zone: Contact - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 4802000 - 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 platinum in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed - Negative factor: inferred\_resource Evidence · table > 0.39 Context: 5,294,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 5,294,000 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-29) Levack Mine · palladium #### Identity - Project: Levack Mine - Commodity: palladium - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:8b4496eb06adcca52051 - Deposit or zone: Contact - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 4802000 - 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 palladium in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed - Negative factor: inferred\_resource Evidence · table > 0.40 Context: 5,294,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 5,294,000 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-30) Levack Mine · gold #### Identity - Project: Levack Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:8b4496eb06adcca52051 - Deposit or zone: Contact - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 4802000 - 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 gold in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed - Negative factor: inferred\_resource Evidence · table > 0.05 Context: 5,294,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 5,294,000 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-31) Levack Mine · silver #### Identity - Project: Levack Mine - Commodity: silver - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:8b4496eb06adcca52051 - Deposit or zone: Contact - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 4802000 - 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 silver in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed - Negative factor: inferred\_resource Evidence · table > 0.67 Context: 5,294,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 5,294,000 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-32) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:8b4496eb06adcca52051 - Deposit or zone: Contact - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 4802000 - 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 copper equivalent in the Contact zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed - Negative factor: inferred\_resource Evidence · table > 3.08 Context: 5,294,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 5,294,000 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-33) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:10f4cd689f6941cbc4bb - Deposit or zone: Footwall - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 488000 - 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 copper in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed - Negative factor: inferred\_resource Evidence · table > 5.28 Context: 538,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 538,000 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-34) Levack Mine · nickel #### Identity - Project: Levack Mine - Commodity: nickel - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:10f4cd689f6941cbc4bb - Deposit or zone: Footwall - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 488000 - 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 nickel in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is weak for underground mining, and the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed - Negative factor: inferred\_resource Evidence · table > 0.78 Context: 538,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 538,000 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-35) Levack Mine · cobalt #### Identity - Project: Levack Mine - Commodity: cobalt - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:10f4cd689f6941cbc4bb - Deposit or zone: Footwall - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 488000 - 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 cobalt in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed - Negative factor: inferred\_resource Evidence · table > 0.01 Context: 538,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 538,000 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-36) Levack Mine · platinum #### Identity - Project: Levack Mine - Commodity: platinum - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:10f4cd689f6941cbc4bb - Deposit or zone: Footwall - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 488000 - 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 platinum in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed - Negative factor: inferred\_resource Evidence · table > 2.53 Context: 538,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 538,000 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-37) Levack Mine · palladium #### Identity - Project: Levack Mine - Commodity: palladium - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:10f4cd689f6941cbc4bb - Deposit or zone: Footwall - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 488000 - 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 palladium in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed - Negative factor: inferred\_resource Evidence · table > 4.78 Context: 538,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 538,000 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-38) Levack Mine · gold #### Identity - Project: Levack Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:10f4cd689f6941cbc4bb - Deposit or zone: Footwall - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 488000 - 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 gold in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed - Negative factor: inferred\_resource Evidence · table > 1.36 Context: 538,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 538,000 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-39) Levack Mine · silver #### Identity - Project: Levack Mine - Commodity: silver - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:10f4cd689f6941cbc4bb - Deposit or zone: Footwall - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 488000 - 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 silver in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed - Negative factor: inferred\_resource Evidence · table > 20.56 Context: 538,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 538,000 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-40) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:10f4cd689f6941cbc4bb - Deposit or zone: Footwall - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 488000 - 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 copper equivalent in the Footwall zone at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is strong for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cutoff\_disclosed - Negative factor: inferred\_resource Evidence · table > 8.78 Context: 538,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 538,000 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-41) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:13fad9218bc04f4c11b3 - Deposit or zone: Total Inferred - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 5291000 - 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 for copper at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Negative factor: inferred\_resource Evidence · table > 1.27 Context: 5,832,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 5,832,000 **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 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-42) Levack Mine · nickel #### Identity - Project: Levack Mine - Commodity: nickel - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:13fad9218bc04f4c11b3 - Deposit or zone: Total Inferred - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 5291000 - 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 for nickel at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Negative factor: inferred\_resource Evidence · table > 1.41 Context: 5,832,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 5,832,000 **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 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-43) Levack Mine · cobalt #### Identity - Project: Levack Mine - Commodity: cobalt - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:13fad9218bc04f4c11b3 - Deposit or zone: Total Inferred - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 5291000 - 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 for cobalt at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Negative factor: inferred\_resource Evidence · table > 0.04 Context: 5,832,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 5,832,000 **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 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-44) Levack Mine · platinum #### Identity - Project: Levack Mine - Commodity: platinum - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:13fad9218bc04f4c11b3 - Deposit or zone: Total Inferred - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 5291000 - 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 for platinum at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Negative factor: inferred\_resource Evidence · table > 0.58 Context: 5,832,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 5,832,000 **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 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-45) Levack Mine · palladium #### Identity - Project: Levack Mine - Commodity: palladium - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:13fad9218bc04f4c11b3 - Deposit or zone: Total Inferred - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 5291000 - 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 for palladium at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Negative factor: inferred\_resource Evidence · table > 0.80 Context: 5,832,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 5,832,000 **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 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-46) Levack Mine · gold #### Identity - Project: Levack Mine - Commodity: gold - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:13fad9218bc04f4c11b3 - Deposit or zone: Total Inferred - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 5291000 - 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 for gold at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Negative factor: inferred\_resource Evidence · table > 0.17 Context: 5,832,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 5,832,000 **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 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-47) Levack Mine · silver #### Identity - Project: Levack Mine - Commodity: silver - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:13fad9218bc04f4c11b3 - Deposit or zone: Total Inferred - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 5291000 - 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 for silver at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Negative factor: inferred\_resource Evidence · table > 2.51 Context: 5,832,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 5,832,000 **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 **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 **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--f69ae65a-5345-4358-9cce-dd0418885074#fact-resource-facts-48) Levack Mine · copper #### Identity - Project: Levack Mine - Commodity: copper - Region: canada\_on - Reported Region: Ontario - Ticker: NICU #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Jonathan Cirelli, P.Geo. - Resource group id: resource:13fad9218bc04f4c11b3 - Deposit or zone: Total Inferred - Mining method: underground - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 5291000 - 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 for copper equivalent at Levack Mine, reported as part of an updated MRE supporting the PEA. The grade is moderate for underground mining, but the Inferred category adds uncertainty. - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Negative factor: inferred\_resource Evidence · table > 3.61 Context: 5,832,000 #### Tags used in scoring **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with National Instrument 43-101. Evidence · text > prepared in accordance with National Instrument 43-101 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: This resource is classified as Inferred, indicating a lower level of geological confidence. Evidence · table > Inferred Context: 5,832,000 **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 **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 **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.