Key Highlights

Company focusing on exploration and development of komatiitic nickel sulphides deposits in Kuhmo Greenstone Belt, Eastern Finland.

Company holds exploration tenements that cover majority of nickel sulphide deposits/occurrences in Kuhmo greenstone Belt
Tenements cover area of 56.843 km2 (To date 22.02.2023)
Comprises of 5 drilled nickel sulphide deposits/occurrences and multiple, never tested, exploration targets

Kuhmo Greenstone Belt presents significantly underexplored area

Analogues to Kambalda nickel province in Western Australia, but without extensive historic exploration
Majority of ground wasn’t claimed until 2021 when Magnus Minerals applied for Exploration Permits

Flagship project: Vaara deposit with JORC compliant resource over 8 Mt at 0.36 % Ni

Disseminated nickel sulphide mineralisation hosted in komatiitic olivine cumulates
Open to depth: majority of drillholes ended in nickel sulphide mineralized ultramafic rocks
Mineralization outcropping, vertically tested only to 125 m depth
Significant potential to multiply existing resource

Company main goal: A bulk-tonnage, disseminated nickel sulphide deposit with +20 years of mine life located in an infrastructure-rich, mining friendly country and region.

Vaara Ni deposit:
Resource

JORC compliant resource done by company Boliden Kuhmo Oy in 2020

Depth extension of deposit tested only up to 100-125 m vertically!
Strike length 300m
Contains 11 individual olivine cumulate lenses
Cut-off 0.2 % Ni
Total tonnage 8,241,266 Mt @ 0.32 % Ni, 0.14 g/t Pd, 0.07 g/t Pt, 0.02 % Cu, 0.01 % Co
OPEN TO DEPTH!: significant potential to multiple existing resource
- Most of the holes stopped in nickel sulphide mineralized ultramafic volcanic rocks

A bulk-tonnage, disseminated nickel sulphide project located in mining friendly region with excellent infrastructure

Boliden resource calculation, 2020

Kellojarvi ultramafic cumulate complex:
Exploration Target

Located in southern part of Kuhmo Greenstone Belt
- 100% owned by Kuhmo Minerals
Very large ultramafic complex with significant potential for discoveries
Historic exploration started with boulder grab sample with grade of 9.9 wt. % Ni
- Source never discovered
- In general significantly underexplored: only very limited drilling campaigns
Undiscovered potential: historic exploration followed traditional exploration guidelines and not considering or evaluating strong geophysical patterns
- Processing of the regional geophysical data indicates that Kellojarvi is not necessarily “just” a normal ultramafic cumulate
- Common Geophysical features similar to Kevitsa Ni-Cu-PGE deposit in Lapland
  - These targets were never drill tested!!

Other assets and exploration targets

Kauniinlampi deposit

0.5 Mt at 0.45 % Ni, non-compliant resource

Only shallow drilling up to 120 m (40-120m)
The Kauniinlampi ultramafic complex is 200-500 m wide and 2 300-3 400 m long
Comprises of three individual nickel mineralisation occurrences
Open along strike to north, south and to depth

Arola deposit

1.5 Mt at 0.46 % Ni, non-compliant resource (Outokumpu OY)

Hosted in sheared and quartz-carbonate-chlorite altered Cr-basalt
Highest assayed sample graded 5.72 % Ni
Longest intercept: hole KUH/ARO-12 : 18.05 metres at 0.46% Ni
Highest grades: hole KUH/ARO-7 : 0.20 metres at 2.90% Ni

Sika-Aho occurrence

0.175 Mt at 0.665 % Ni, non-compliant resource; resource to depth 300 m below surface

Hosted in sheared felsic, mafic, ultramafic rocks
Mineralization consists of banded pyrrhotite in assemblage with visible pentlandite
Deposit includes portion of semi-massive sulphides with strike length ca 100 m and thickness 0.5-15 m, steeply dipping to east
Resource has potential to be multiplied by recalculation with lower cut-off grade
Longest intercept: hole HYR/SA-8: 17.85 metres at 0.76% nickel

Upside

Company controls majority of nickel deposits/occurrences within significantly underexplored Kuhmo greenstone belt in central Eastern Finland

Analogous to Kambalda nickel province in western Australia
Company controls area of 56.843 km2
Comprises of 5 drilled deposits/occurrence and multiple, never tested, exploration targets

A bulk-tonnage, disseminated nickel sulphide project located within top tier mining jurisdiction is going to have huge strategic value

Flagship project Vaara deposit with JORC compliant resource over 8 million tonnes at 0.36 % Ni

Tested only to vertical depth of 125 m, majority of historic drill holes ended up in mineralization
Open to depth, significant potential for multiplying the resource
Excellent results from initial metallurgical test from 2008: simple processing achieved concentrate with 35.9 % Ni
- Beneficial chemical composition of nickel sulphides: high nickel tenure and low iron

Surging demand for sulphide nickel in EU

Recently European Parliament and Council accepted agreement that ensuring all new cars registered in Europe will be zero-emission by 2035

Contact

Juho Haverinen

Exploration Manager (MSc, geologist)

Magnus Minerals Ltd

+358 46 632 0130