Magna Mining Inc.

A rapidly growing copper and nickel producer based in Canada’s premier mining district, Sudbury. TSXV: NICU

[Magna Mining Inc. @MagnaMining]

Today, on International Women’s Day, we recognize and celebrate the talented women who contribute every day to the success of @MagnaMining and the broader mining industry.

#IWD2026 #Sudbury $NICU.V

[Magna Mining Inc. @MagnaMining]

Today we pause to remember the Canadians who have and continue to serve our country. @MagnaMining expresses our gratitude to them and their families who have supported them. 🙏 @RoyalCdnLegion Onaping Falls Branch 503 and the Dr. Fred Starr Branch 76 in Sudbury. Lest we forget.

[Magna Mining Inc. @MagnaMining]

Our new SVP Capital Markets Greg Huffman @tufferhuffer talks about why he joined @MagnaMining at the 50 minute mark of this interview….check it out!

[Greg Huffman @tufferhuffer]

Really enjoyed my conversation with @TrevAHall earlier this week. Covered a lot of ground, including why I’m super excited to now be working at @MagnaMining.

Technical Convictions and an Analyst's Edge: Greg Huffman's Career Path ... https://t.co/6D2tlrmVsB via @YouTube

[Magna Mining Inc. @MagnaMining]

Check out @JasonJessup22 recent interview with @TheKEReport where he discusses our Q3 operational results from the McCreedy West Mine in Sudbury, as well as exciting exploration developments from the R2 target at the adjacent Levack Mine.
$NICU.V

https://t.co/wwhtHnuI3b

[Magna Mining Inc. @MagnaMining]

Hole FNX6083-W2 at our Levack R2 target hit several narrow high grade sulphide veins, up to 19.3% and 26.1 g/t TPM over 0.5 m and 4.9% Cu, 12.4% Ni, 24.2 g/t TPM over 0.4 metres, so we’re adding a second UG drill rig. 
#Sudbury #copper #preciousmetals

https://t.co/ypEqynhyyA

[Magna Mining Inc. @MagnaMining]

Q3 op results from McCreedy West Mine delivered +7.3% ore prod'n q/q and 24% more UG development (almost 3x vs Q1!) as we set up the mine up for a strong '26 and put the systems in place to advance Levack and Crean Hill. #Sudbury #copper #preciousmetals

https://t.co/82cOUCdeg9

[Magna Mining Inc. @MagnaMining]

@CTVNewsNorthern featured @MagnaMining CEO @JasonJessup22 speaking about the Ontario government’s recent ‘One Project, One Process’ (1P1P) announcement, which delivers on the vision to make Ontario the fastest permitting mining jurisdiction in the industrialized world.

[CTV News Northern Ontario @CTVNewsNorthern]

WATCH: Ontario has launched a new 'One Project, One Process' framework to streamline mine approvals, aiming to cut review times in half. @EricTaschnerCTV and @CTVIanCampbell have the latest. https://t.co/KZFRRzlHyV

[John Mihaljevic @mihaljevic]

A Latticework 2025 session hosted by Will Thomson (@wmthomson22) of Massif Capital (@massifcap) highlighted a real-time small-cap case study that exemplifies many of the themes of Latticework: entrepreneurial leadership, acquiring undervalued assets, and executing a repeatable, value-creating playbook.

Jason Jessup (@JasonJessup22), CEO of Magna Mining (@MagnaMining) (TSXV: $NICU), detailed how he is re-running the strategy that led to the legendary success of FNX Mining in the 2000s.

The FNX Playbook: A Low-Risk, High-Return Mining Strategy

The “FNX playbook” is an elegant and capital-efficient strategy for value creation in the mining industry, specifically tailored to the unique characteristics of the Sudbury Basin in Ontario, one of the world’s most prolific mining districts.

Jason was a key operations manager at the original FNX, which acquired five written-off mines from mining giant Inco in 2002 and grew into a multi-billion-dollar company over the next decade.

The strategy is as follows:

Acquire Non-Core Assets: Identify and acquire fully permitted, past-producing mines from major global mining companies like Vale and Glencore. For these giants, smaller Sudbury assets are often non-core distractions, and they are unwilling to allocate the modest capital required to maintain or expand them.

Leverage Existing Infrastructure: Sudbury is home to a vast network of existing infrastructure, including nine operating mines, two large processing plants, and two smelters. By acquiring mines that can tap into this network, Magna avoids the multi-billion-dollar capital expenditures and decade-long permitting processes required to build a new mine from scratch.

A Simple Business Model: Magna’s model is to simply mine the ore and sell it directly to Vale’s or Glencore’s underutilized processing mills. This allows for rapid restarts and a focus on operational excellence rather than capital-intensive construction.

Self-Funded Growth: The cash flow generated from the first restarted mine is then reinvested to bring the next mine online, creating a self-funding growth engine.

Magna’s Flawless Execution

Jason founded Magna in 2016 with this vision. His acquisition history is a testament to the strategy’s power. He started by buying his first property for just $50K in cash. This culminated in the acquisition of the original FNX properties from KGHM in early 2025. In a transaction that was eight years in the making, Magna acquired assets with a replacement cost in the hundreds of millions of dollars for just $5 million in cash and $4 million in stock and deferred payments.

The company is now executing its growth plan. Over the next three years, it intends to bring three mines into production, funded largely by internal cash flow. This has the potential to generate $100 to $200 million in annual cash flow for a company with a recent market cap of roughly $600 million.

The strategy is also flexible; the unique geology of Sudbury allows Magna to pivot between mining copper-rich or nickel-rich zones depending on which commodity offers better economics. The entire enterprise is led by Jason, an entrepreneurial CEO with deep operational expertise and significant skin in the game, owning ~5% of the company.

Echoing the "search fund" concept introduced in the Latticework session with Kingsway Financial Services, Magna Mining serves as a real-world example of the "search fund" model applied to a specific industrial niche. Jason is the expert operator with a specific thesis, and the major mining companies are the “retiring founders” who view these smaller assets as non-core. It is a textbook case of creating value by exploiting a structural inefficiency that is ignored by larger players.

More at https://t.co/kPp2s1MU09

[Magna Mining Inc. @MagnaMining]

Last week, @MagnaMining CEO Jason Jessup attended the @SudburyCofC AGM featuring the Honorable Stephen Lecce @Sflecce, Ontario’s Minister of Energy and Mines.  We’re excited to continue to work closely with Minister Lecce & team at @ONenergy to accelerate resource dev in Sudbury!

[Magna Mining Inc. @MagnaMining]

Way to go, Gord!  Today @CdnMHF announced 4 new members to be inducted into the Canadian Mining Hall of Fame for 2026, including @MagnaMining’s very own Strategic Advisor Gord Morrison, who is also the namesake of the Morrison Deposit at our Levack Mine.

https://t.co/ywXpydZHTY

[Magna Mining Inc. @MagnaMining]

Deepening the bench at @MagnaMining with the appointment of Greg Huffman @tufferhuffer as SVP, Capital Markets. Greg’s deep understanding of Sudbury geology and extensive capital markets experience will greatly assist in exposing new investors to Magna! #Sudbury #copper #nickel

[Magna Mining Inc. @MagnaMining]

We are delighted to announce a C$45m equity raise which will allow us to accelerate our exploration & development at the past-producing Levack Mine. Recent results from this property have certainly caught the attention & interest of the investor community. https://t.co/OMDekhA2gU

[Victor Fedeli @VictorFedeli]

Great to meet with the leadership team at @MagnaMining to learn more about their operations and their portfolio of critical minerals projects in Ontario.

At a time when global supply chains are increasingly dependent on jurisdictions like China, Ontario provides a secure and dependable alternative, backed by both our natural abundance and our growing processing capacity.

[Trevor Hall @TrevAHall]

Magna Mining's New Drill Results Open Expansion Opportunities at Levack - Clear Commodity Network

@MagnaMining

https://t.co/b0LEwy6gtL

[Magna Mining Inc. @MagnaMining]

These are the sort of exploration results we always knew were possible at Levack as we relentlessly pursued the acquisition of these past-producing properties, finally buying them in March 2025. Sudbury still has so much incredible potential. $NICU
https://t.co/Y0sJEHrJAW

[Magna Mining Inc. @MagnaMining]

More high grade hits from our past producing Levack mine in Sudbury. We are currently updating the historical resource and undertaking restart studies. Exploration drilling is ongoing, aiming to make a new, high-grade copper and PGM discovery. $NICU
https://t.co/wbGZalS3fA

[Magna Mining Inc. @MagnaMining]

Many thanks to Minister @ToddJMcCarthy for visiting our McCreedy West copper mine yesterday to take the time to learn about our operations, and how ongoing support from the @fordnation government is helping us grow critical mineral production and add mining jobs in Sudbury. $NICU

[Todd McCarthy @ToddJMcCarthy]

To end off my mining tour, I visited Magna Mining Inc.’s McCreedy West Mine to see first-hand the current mining operations.

Thank you to the hardworking team for providing an overview of the site’s production potential and remaining exploration opportunities. It is encouraging to see efforts to make the most out of an existing site and support Ontario’s growing mining sector.

[Magna Mining Inc. @MagnaMining]

We are pleased to announce the closing of the Sudbury property acquisition from NorthX Nickel. Another step on our path to become a multi-property owner and operator in Canada's most established and successful copper & nickel mining district. $NICU
https://t.co/khK74NvVgh

[Trevor Hall @TrevAHall]

Magna Mining's Jason Jessup on the Company's 2025 H2 Guidance - Clear Commodity Network

@MagnaMining

https://t.co/eoY5Ud3K8x

[Stephen Lecce @Sflecce]

Through our Critical Minerals Innovation Fund, we’re backing ⁦@MagnaMining⁩’s Crean Hill project — boosting copper, nickel, and precious metal production in Sudbury and creating good-paying jobs in the North. https://t.co/XgnVPvQ8t2