Overview of Myall Project's Forward Exploration Plan

Magmatic Resources Ltd (ASX: $MAG) has approved the initial work program for the Myall Joint Venture (JV) with Fortescue, as part of the Farm-in and Joint Venture Agreement. The two-phase work program for the 2024/2025 Financial Year includes historic core and drill chips re-assay, resampling, and detailed study of the Corvette/Kingswood area in the west, followed by diamond drilling in the greater Corvette/Kingswood region. The program is expected to be completed by the end of the calendar year, with Magmatic's technical team leading the operations.

Executive Commentary on Myall Exploration Program

With a work program now in place for the project, I am excited to see the next chapter for Myall commence in partnership with Fortescue. Our technical team have done an excellent job over the last two of years in unravelling some of the key geological complexities of the region and in defining a major copper-gold system at Corvette and Kingswood. We very much look forward to building on this work with Fortescue's technical input and unlocking the enormous copper-gold discovery potential the Myall Project holds.

Summary of Myall Project's Forward Exploration Plan

Magmatic Resources (ASX: $MAG) has approved the initial work program for the Myall Project, focusing on the Myall Joint Venture (JV) with Fortescue. The two-phase work program includes historic core and drill chips re-assay, resampling, and detailed study of the Corvette/Kingswood area in the west, followed by diamond drilling in the greater Corvette/Kingswood region. The program is expected to be completed by the end of the calendar year, with Magmatic's technical team leading the operations. The Farm-in and Joint Venture Agreement with Fortescue will see up to $14M spent over six years to earn up to a 75% interest in the Myall Project. The company aims to unlock the enormous copper-gold discovery potential the Myall Project holds.