Name of the Project
Crean Hill project.

Location
Sudbury, Ontario, Canada.

Project Owner/s
Magna Mining Inc.

Project Description
Crean Hill is an underground nickel, copper, and platinum group metals mining project.

An updated preliminary economic assessment (PEA), published in September 2024, envisions an underground-only mining operation. The PEA targets underground production of 2 200 t/d. This includes 1 650 t/d of high-grade material and 550 t/d of lower-grade, incremental feed.

Underground production mining will be completed using conventional longhole stoping methods with hydraulic backfill. On-site crushing and sampling activities will occur before the ore is shipped to the local processing facility.

The mine will initially access the ore through a new surface portal, with later rehabilitation of the historical No 2 shaft for personnel access and deeper mining.

Magna Mining plans to sell the mined material to a third-party mill in Sudbury for processing.

Potential Job Creation
Not indicated.

Net Present Value/Internal Rate of Return
The PEA uses metal prices of $ 8.50/lb nickel, $4.00/lb copper, $13.00/lb cobalt, $900/oz platinum, $1 000/oz Palladium, $2 150/oz gold and a 1.35 C$/$ exchange rate.

The base case generates a pretax net present value, at an 8% discount rate, of $265.3-million and an internal rate of return of 142%, with a payback of 1.5 years.

Capital Expenditure
Pre-production capital is estimated at $27.7-million following the advanced exploration programme.

Planned Start/End Date
The project will start with a 15-month advanced exploration programme, followed by a 12-month preproduction ramp-up period.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
SGS Geological Services (preliminary economic assessment); and Frago-Met Solution (processing and recovery consultant).

Contact Details for Project Information
Magna Mining Inc, email info@magnamining.com.