Magna Mining Inc. Announces Non-Binding Memorandum of Understanding for Proposed Joint Venture Arrangement with Mitsui & Co. for Shakespeare Mine
Toronto, Ontario--(Newsfile Corp. - January 31, 2022) - Magna Mining Inc. (TSXV: NICU) ("Magna" or the "Company") is pleased to announce that it has entered into a non-binding memorandum of understanding ("MOU") with Mitsui & Co., Ltd. ("Mitsui"), whereby Magna and Mitsui will discuss the possibility of Mitsui's acquirement of a 10 to 12.5% interest in Magna's Shakespeare Mine in exchange for cash consideration ranging between $8 million to $10 million on such terms as to be further...
2022-01-31 6:00 AM EST
Magna Mining Inc's Shakespeare Nickel Project Feasibility Study Demonstrates Positive Economics and Carbon Neutral Nickel Mining Operation
Sudbury, Ontario--(Newsfile Corp. - January 31, 2022) - Magna Mining Inc (TSXV: NICU) (the "Company") is pleased to announce the results of the 2022 Feasibility Study for the Shakespeare Nickel Project ("Shakespeare") located 60 km south-west of Sudbury, Ontario. The Feasibility Study ("Study") is considered a base case and does not include any of the results from the 2021 Shakespeare drilling campaign (as highlighted in Figure 3). This Study remains within the constraints of current...
2022-01-31 6:00 AM EST
Magna Mining Engages Independent Trading Group as Market-Maker
Sudbury, Ontario--(Newsfile Corp. - January 25, 2022) - Magna Mining Inc. (TSXV: NICU) ("Magna" or the "Company") is pleased to announce that it has entered into a market-making agreement (the "Agreement") with Independent Trading Group ("ITG"), pursuant to which ITG has agreed to provide market-making services to the Company in accordance with the policies of the TSX Venture Exchange (the "Exchange") and applicable laws. ITG will trade shares of the Company on the TSXV and other available...
2022-01-25 7:00 AM EST
Magna Mining Announces Further Positive Assay Results from 2021 Shakespeare Mine Drilling
Sudbury, Ontario--(Newsfile Corp. - January 5, 2022) - Magna Mining Inc. (TSXV: NICU) ("Magna" or the "Company") is pleased to announce the assay results from a further nine holes drilled at the Shakespeare Mine during the 2021 drilling program. Highlights from this batch of assay results include wide Gap Zone intersections which support the thesis that the West and East Zones are connected not only near surface, but also at depth. Jason Jessup, Chief Executive Officer of Magna, stated, "We...
2022-01-05 6:54 AM EST
Magna Mining Announces Grant of Stock Options
Sudbury, Ontario--(Newsfile Corp. - December 23, 2021) - Magna Mining Inc. (TSXV: NICU) (the "Company" or "Magna") announces that it has granted a total of 575,000 stock options to purchase common shares of the Company to certain directors and officers pursuant to the Company's Share Incentive Plan. Such options have an exercise price of $0.40 per common share, and vest immediately. All options expire on December 23rd, 2026. About Magna Mining Inc. Magna Mining is an exploration and...
2021-12-23 4:30 PM EST
Magna Mining Announces Winter Exploration Program at the Shakespeare Project and Results of Recent Borehole Electromagnetic Survey
Sudbury, Ontario--(Newsfile Corp. - December 1, 2021) - Magna Mining Inc. (TSXV: NICU) ("Magna" or the "Company") is pleased to announce that following the completion of a $3.14 million flow through financing on Nov 3rd, the next phase of exploration at the Shakespeare Ni-Cu-PGM Project will commence in early January. The initial winter exploration program will consist of 4,500m of drilling, which will target the new P-4 nickel discovery and the past producing Spanish River Copper Mine. The...
2021-12-01 6:54 AM EST
Magna Mining Intersects 52.57 Metres of Ni-Cu-PGM Mineralization at the Shakespeare Project, Ontario, Canada
Sudbury, Ontario--(Newsfile Corp. - November 4, 2021) - Magna Mining Inc. (TSXV: NICU) ("Magna" or the "Company") is pleased to announce assay results from recent drilling at its Shakespeare Project, located near Sudbury, Ontario. All holes reported are in the immediate vicinity of the Shakespeare West Zone, Gap Zone and East Zone. Drilling and assay results demonstrate the potential to expand on existing shallow resources and close the gap (Gap Zone) between the currently defined West and...
2021-11-04 7:03 AM EDT
Magna Mining Closes Final Tranche of Non-Brokered Private Placement
Toronto, Ontario--(Newsfile Corp. - November 3, 2021) - Magna Mining Inc. (TSXV: NICU) ("Magna" or the "Company") is pleased to announce, further to its press releases dated September 29, 2021, October 22, 2021 and October 28, 2021, that it has closed the final tranche of its previously announced non-brokered private placement (the "Offering"), pursuant to which the Company sold an aggregate of 1,107,800 flow-through common shares at a price of $0.45 per share, for aggregate gross proceeds of...
2021-11-03 4:46 PM EDT
Magna Mining Closes First Tranche of Non-Brokered Private Placement
Toronto, Ontario--(Newsfile Corp. - October 28, 2021) - Magna Mining Inc. (TSXV: NICU) ("Magna" or the "Company") is pleased to announce that it has closed an initial tranche of its previously announced non-brokered private placement (the "Offering"), pursuant to which the Company sold an aggregate of 5,888,900 flow-through common shares at a price of $0.45 per share, for aggregate gross proceeds of approximately $2,650,000. The Company intends to complete a further tranche of the Offering in...
2021-10-28 7:02 AM EDT
Magna Mining Inc. Announces Upsize to Previously Announced Private Placement of Flow-Through Shares
Toronto, Ontario--(Newsfile Corp. - October 22, 2021) - Magna Mining Inc. (TSXV: NICU) ("Magna" or the "Company") is pleased to announce that it has increased the size of its previously announced non-brokered private placement to an aggregate of up to 8,444,500 flow-through common shares ("FT Shares") (up from 6,666,667 FT Shares) at a price of $0.45 per FT Share, for aggregate gross proceeds of up to $3,800,025 (the "Offering"). The FT Shares will be offered by way of a best efforts...
2021-10-22 6:56 AM EDT
Magna Mining Inc. Announces up to $3 Million Non-Brokered Private Placement of Flow-Through Shares
Toronto, Ontario--(Newsfile Corp. - September 29, 2021) - Magna Mining Inc. (TSXV: NICU) ("Magna" or the "Company") is pleased to announce an offering (the "Offering") of up to 6,666,667 flow-through common shares ("FT Shares") at a price of $0.45 per FT Share, for total gross proceeds of up to $3 million. The FT Shares will be offered by way of a best efforts non-brokered private placement to "accredited investors" resident in the provinces of Canada. The gross proceeds of the Offering will...
2021-09-29 6:58 AM EDT
Magna Mining Reports a New Nickel - Copper - PGM Discovery at the Shakespeare Project, Ontario, Canada
Sudbury, Ontario--(Newsfile Corp. - September 20, 2021) - Magna Mining Inc. (TSXV: NICU) ("Magna" or the "Company") is pleased to provide assay results from the first two diamond drill holes that were designed to test a portion of the P-4 target, located 5 km to the east and on strike of the past producing Shakespeare Mine stratigraphy. Two holes were drilled to intersect a previously untested geophysical anomaly, and both holes intersected significant nickel, copper, and Platinum Group...
2021-09-20 7:03 AM EDT
Magna Mining Reports High Grade Surface Samples on the Baldwin Patents Portion of the Shakespeare Ni-Cu-PGM Project, Ontario, Canada
Sudbury, Ontario--(Newsfile Corp. - September 14, 2021) - Magna Mining Inc. (TSXV: NICU) ("Magna" or the "Company") is pleased to provide assay results from surface work on the recently acquired Baldwin Patents property, which is part of the Shakespeare Ni-Cu-PGM Project and located approximately 3 km south-east of the Shakespeare Mine. Initial surface mapping and sampling of these patented claims have identified sulphide mineralization on surface. Grab samples have returned values as high as...
2021-09-14 7:02 AM EDT
Magna Mining Exploration Update for the Shakespeare Ni-Cu-PGM Project, Ontario, Canada
Sudbury, Ontario--(Newsfile Corp. - August 17, 2021) - Magna Mining Inc. (TSXV: NICU) ("Magna" or the "Company") is pleased to provide the following update on exploration activities at the Shakespeare Nickel-Copper-PGM Project. The exploration drilling program is well advanced, with 5,203 meters drilled to date from a planned program of 9,000 meters. Numerous assay results are pending due to severe delays in assay turnaround times. "Although receipts of assay results are well behind our...
2021-08-17 6:00 AM EDT
Magna Mining Announces the Appointment of Vice President of Exploration
Sudbury, Ontario--(Newsfile Corp. - August 3, 2021) - Magna Mining Inc. (TSXV: NICU) (the "Company" or "Magna") is pleased to announce the appointment of Dr. Mynyr Hoxha to the position of Vice President of Exploration. Dr. Hoxha has been an Advisor to the company since its inception in 2016 and participated in the initial due diligence on the Shakespeare property prior to the acquisition in 2017. Dr. Hoxha is a Professional Geoscientist with more than 30 years of mining and exploration...
2021-08-03 6:00 AM EDT
Magna Mining's Initial 2021 Drilling Intersects 33.8 Metres of Ni-Cu-PGM Mineralization in the Gap Zone at the Shakespeare Project, Ontario, Canada
Sudbury, Ontario--(Newsfile Corp. - June 24, 2021) - Magna Mining Inc. (TSXV: NICU) ("Magna" or the "Company") is pleased to announce drill results for the first two drill holes at its Shakespeare Project, located near Sudbury, Ontario. Diamond drilling on the Shakespeare Project commenced in late April, with one diamond drill focused on better defining the area between the East and West zones, referred to as the Gap Zone, and at depth, below the East Zone. Drillhole MMC-21-15 intersected...
2021-06-24 9:28 AM EDT
Magna Mining Announces Acquisition of Patented Claims Within the Shakespeare Project
Sudbury, Ontario--(Newsfile Corp. - June 8, 2021) - Magna Mining Inc. (TSXV: NICU) (the "Company" or "Magna") announces that they have signed a definitive agreement to acquire a 50% interest in eight (8) patented claims in Baldwin Township, the "Baldwin Copper Patents," comprising 132.8 hectares of land (see Figure 1). Seven claims comprise both surface and mining rights, while the remaining claim is restricted to mining rights only. The 50% interest in these claims was acquired for $80,000...
2021-06-08 6:30 AM EDT
Magna Mining Announces Grant of Stock Options and RSUs
Sudbury, Ontario--(Newsfile Corp. - May 28, 2021) - Magna Mining Inc. (TSXV: NICU) (the "Company" or "Magna") announces that it has granted a total of 925,000 stock options to purchase common shares of the Company to certain directors, officers, employees and consultants pursuant to the Company's Share Incentive Plan. Such options have an exercise price of $0.50 per common share, options issued to directors vest immediately, while all other options vest 1/3 immediately and 1/3 annually...
2021-05-28 3:06 PM EDT
Magna Mining Phase I 9,000m Drill Program Update at the Shakespeare Ni-Cu-PGM Project, Ontario, Canada
Sudbury, Ontario--(Newsfile Corp. - May 26, 2021) - Magna Mining Inc. (TSXV: NICU) ("Magna" or the "Company") is pleased to announce that it has commenced the planned 9,000 metre, Phase I drilling program at its Shakespeare Project, located near Sudbury, Ontario. Magna has allocated 6,000m of drilling to near-mine exploration targets at the past-producing Shakespeare Mine, and 3,000m to high priority regional exploration targets. At Shakespeare, drilling is designed to expand on the current...
2021-05-26 6:00 AM EDT
Magna Mining Becomes Carbon Neutral
Sudbury, Ontario--(Newsfile Corp. - May 20, 2021) - Magna Mining Inc. (TSXV: NICU) ("Magna" or the "Company") is delighted to announce carbon neutrality in 2021. By purchasing offset credits for all Greenhouse Gas ("GHG") emissions produced throughout the year, Magna becomes one of the first carbon neutral nickel exploration companies in the world. Magna has engaged the corporate sustainability management firm Synergy Enterprises, to estimate GHG emissions from Company activities, including...
2021-05-20 6:30 AM EDT