Magna Mining (NICU) Investor Update summary

Leadership and team development

• Over 25 years of mining experience, with a background in engineering, operations, and business development.

• Founded the company in 2016 and has led it since.

• Recently added a trusted Chief Operating Officer and brought key services like HR in-house to support growth.

Ownership and financial position

• Largest shareholder is Dundee Corp with over 20%, followed by Hawke's Point at 11%; management and insiders hold about 10%.

• Recent warrant exercises added CAD 2 million in hard dollars, providing financial flexibility.

• As of March 30, had approximately CAD 9 million in cash and receivables, mostly flow-through funds.

Project milestones and operations

• Achieved major milestones: closure plan approval, ore selling agreement with Vale, and water permit for Crean Hill.

• Secured toll milling agreement with Glencore for 20,000 tons of 109 Footwall Zone material.

• Bulk sample program underway, with ore stockpiled and processing set for early September; results expected by end of September.

• Dewatering and underground preparations progressing, enabling advanced exploration.