MGU: Sampling Maps High Grade at Buena Vista

MAGNUM MINING AND EXPLORATION LIMITED

• Massive magnetite outcrop sampling completed at Buena Vista Iron Project with high-grade channel samples identified.
• Unbiased channel sampling characterised the entire width of outcrops, and controlled pXRF assaying used for initial assessment.
• Samples dispatched to lab for full analysis, with breccia and stockpile sampling in progress.

2023-06-05 08:36:00

MGU: Drilling campaign completed at Buena Vista

MAGNUM MINING AND EXPLORATION LIMITED

• An RC drilling campaign has successfully completed at the Buena Vista Iron Project
• Samples are undergoing initial preparation and assaying, with visual identification indicating wide zones of magnetite have been intersected
• Follow-up drilling will be planned once all assays are received

2023-05-23 08:16:00

MGU: Magnum secures pathway to Hismelt license

MAGNUM MINING AND EXPLORATION LIMITED

• Magnum Mining & Exploration enters tripartite agreement with Molong and SDM for a conditional HIsmelt license for environmentally sustainable pig iron production.
• License will be ratified upon completion of a feasibility study on one or both projects, with no specific timeframe provided.
• Commercial terms, royalty payments and negotiations are to be finalized following the feasibility study.

2023-05-18 12:16:00

MGU: US Senator seeks appropriation re Appalachian iron project

MAGNUM MINING AND EXPLORATION LIMITED

• Magnum Green Steel USA is collaborating with the West Virginia Department of Economic Development on the Appalachian Iron Project, which has been submitted by U.S. Senator Joe Manchin for Congressionally Directed Spending Request.
• The project aims to produce net zero carbon green steel by converting waste iron oxide materials from legacy slag dumps into high-value pig iron using sustainably sourced biochar.
• This may lead to crucial research and financial support for the project, which could create a large number of jobs in West Virginia and potentially eliminate millions of tonnes of carbon emissions per year in the steel and cement industries.

2023-05-17 08:22:00

MGU: SDM signs landmark agreement with Magnum

MAGNUM MINING AND EXPLORATION LIMITED

• Magnum Mining & Exploration has signed an agreement with Shandong Province Metallurgical Engineering (SDM) for a feasibility study on a HIsmelt Plant at Buena Vista Green Iron Project in Nevada, USA.
• The study will cover various aspects of the project, including plant overview, material balance, infrastructure, and financial analysis, and is expected to be completed within three months.
• The HIsmelt technology aims to deliver green steel using magnetite resources, making this a significant step towards realizing a green iron operation at Buena Vista.

2023-05-10 12:43:00

MGU: Mitsubishi enters into an offtake MOU with Magnum

MAGNUM MINING AND EXPLORATION LIMITED

• Mitsubishi Corporation has entered into a Memorandum of Understanding with Magnum for the offtake of all products from the Buena Vista Green Iron Project in Nevada, USA.
• The MOU covers various products including Direct Shipping Ore, iron concentrate, HIsmelt-produced pig iron and slag, steel plant wastes, and excess biochar.
• This agreement provides a foundation for progressing to a Definitive Agreement and supports the Buena Vista Project's development towards a Feasibility Study.

2023-05-10 10:04:00

MGU: DSO sampling at Buena Vista uncovers new potential

MAGNUM MINING AND EXPLORATION LIMITED

• Channel sampling completed at Buena Vista, uncovering new potential for high-grade magnetite outcrops.
• Shallow, high-grade potential identified in historic pits, with plans for a drilling program to test DSO potential.
• Fully permitted Buena Vista Mine site could access this material early and with minimal capital requirements.

2023-04-28 08:17:00

MGU: Test work confirms over 68% high grade product

MAGNUM MINING AND EXPLORATION LIMITED

• Metallurgical test confirms +68% Fe product can be produced
• Minimal changes necessary to the previously designed plant
• Ore hardness test indicates lower power requirement than peers

2023-03-10 08:14:00

MGU: Lithium discovered at Buena Vista

MAGNUM MINING AND EXPLORATION LIMITED

1. Reconnaissance stream sediment geochemistry survey returned anomalous lithium
2. Multiple sample sites confirms veracity of lithium anomaly
3. Pegmatite and rhyolite-hosted lithium target styles to be investigated

2023-01-16 08:31:00

MGU: MGU showing an additional 407m-540m tonnes of fe

MAGNUM MINING AND EXPLORATION LIMITED

1. Independently calculated Exploration Target Estimate has been derived for the Buena Vista Green Pig Iron Project
2. Twenty-one targets defined, seventeen targets with no previous drilling
3. Potential to grow the Buena Vista iron resource to be one of the largest in the western USA

2023-01-13 08:18:00