Magnum Mining Parker Project Delivers Exceptional Gold-Copper Results

Multiple Assays Exceed 100g/t Gold at Parker Project

Magnum Mining and Exploration Parker Project results have delivered exceptional surface geochemical outcomes from its 2026 program in Arizona, USA, with multiple assays exceeding 100 g/t gold and copper values reaching 18.35%. The comprehensive sampling program across three key target areas has confirmed and extended interpreted mineralised corridors, establishing clear drill targets for the upcoming exploration program.

Eagle Nest Target Delivers Outstanding Results

The Eagle Nest area has emerged as a priority target following systematic sampling that returned spectacular high-grade assays across the structurally controlled vein system. Furthermore, these results demonstrate the potential for significant mineralisation at depth.

High-Grade Gold Results

The gold assays from Eagle Nest demonstrate consistent high-grade mineralisation with results including:

• 91.6 g/t Au with 6.39% Cu
• 38.0 g/t Au with 4.44% Cu
• 37.1 g/t Au with 2.83% Cu
• 36.7 g/t Au with 2.11% Cu
• 30.6 g/t Au with 2.81% Cu

High-Grade Copper Results

Copper mineralisation at Eagle Nest shows exceptional grades coincident with gold values:

• 18.35% Cu with 0.2 g/t Au
• 13.30% Cu with 0.1 g/t Au
• 13.00% Cu with 2.9 g/t Au
• 10.95% Cu with 0.7 g/t Au
• 10.30% Cu with 13.1 g/t Au

The systematic soil sampling program has defined coherent gold and copper anomaly corridors that align with the Eagle Nest interpreted structural framework. According to the company's announcement, mineralisation at Eagle Nest forms a continuous, structurally controlled trend developed along quartz-porphyry-carbonate contacts and fold-related shear zones.

Red Breccia Shows IOCG-Style Characteristics

The Red Breccia target has delivered the most spectacular gold results, with multiple samples exceeding 100 g/t Au currently undergoing overlimit re-assay. In addition, these results highlight the potential for a significant discovery.

Red Breccia comprises a haematite-rich intrusive breccia hosted within basement lithologies, striking east-west and dipping steeply to the southwest. The alteration assemblage includes pervasive haematitisation, localised silicification and overprinted copper mineralisation, characteristics consistent with Iron Oxide Copper Gold (IOCG) systems.

NSW Detachment Target Confirms Structural Control

NSW Detachment returned consistent high-grade results across the structurally focused gold-copper target:

• 37.5 g/t Au with 12.85% Cu
• 11.1 g/t Au with 5.70% Cu
• 10.2 g/t Au with 4.36% Cu
• 9.17 g/t Au with 4.89% Cu

The mineralisation is developed along a low-angle detachment fault within basement lithologies, locally overprinted by rhyolitic dykes. Consequently, the soil results define a coherent anomaly corridor aligned along the main east-southeast striking corridor, remaining open to the north.

Large-Scale Mineralised System Identified

The 2026 surface geochemical program comprised 457 soil samples and 131 rock-chip samples collected across the project target areas. The Magnum Mining and Exploration Parker Project results demonstrate that Parker hosts multiple structurally controlled gold-copper target styles within a coherent mineralised system.

The combined prospective strike length extends approximately 5km, with soil sampling results showing gold and copper anomalism spatially aligned with mapped and interpreted structures.

Understanding IOCG Mineralisation Systems

Iron Oxide Copper Gold (IOCG) deposits represent a globally significant class of mineral deposits characterised by iron oxide minerals (hematite and/or magnetite) with associated copper and gold mineralisation. These systems typically form from high-temperature, oxidised hydrothermal fluids and are often associated with intrusive breccia bodies.

Key IOCG Characteristics:

• Large-scale mineralised systems with substantial tonnage potential
• Association with intrusive breccia bodies and structural corridors
• High-temperature hydrothermal alteration assemblages
• Economic copper and gold grades in laterally extensive zones

The breccia-style mineralisation at Red Breccia displays classic IOCG characteristics, including haematite-rich matrix, polymictic clast population, and strong structural control. Furthermore, many world-class mining operations are hosted within IOCG systems, including Olympic Dam in South Australia and various deposits throughout the western United States.

Historical Mining Context Supports Modern Potential

The Parker Project benefits from documented mining activity dating back to at least 1909, with historical production records indicating substantial ore shipments over multiple decades.

Historical Production Summary:

• World War I Period: 2,270 tons averaging ~US$30/ton combined copper-gold value
• 1941-1942: 956 tons containing 44,196 lbs copper and 188 oz gold
• Total Documented Shipments: Minimum 5,540+ tons

Mining operations ceased in the early 1940s due to labour shortages as miners left for higher-paid government employment during World War II infrastructure projects. However, historical reports consistently anticipated primary sulphide mineralisation at depth below the oxidised zone and beneath historical workings.

Chairman's Commentary

"These are exceptional surface results from Parker and we believe they demand immediate follow-up. High-grade gold and copper assays have now been returned across multiple target areas, including multiple overlimit gold results at Red Breccia, which gives us growing confidence that this could be a broad and well-developed mineralised system," said Michael Davy, Chairman.

Drilling Program Advancement

Magnum Mining is advancing towards first-pass drilling with several immediate priorities established following the successful surface program results. For instance, the company's systematic approach to target definition has identified clear drill-ready opportunities.

Next Steps Timeline:

• Ongoing: Bureau of Land Management (BLM) permitting engagement
• April 2026: Expected overlimit assay results for >100 g/t Au samples
• Post-Permitting: First-pass drilling at Eagle Nest and Red Breccia

The company's immediate focus includes finalising drill hole design, collar locations, orientations and access planning. Eagle Nest and Red Breccia have been identified as priority targets for initial drill testing, subject to permitting approval.

The drilling program will test the most compelling areas defined by the surface geochemical program, with drill hole planning incorporating integrated geochemical and structural datasets to support final drill targeting.

Investment Implications

The Magnum Mining and Exploration Parker Project results establish multiple value drivers for investors considering exposure to gold-copper exploration in Arizona.

Key Investment Highlights:

• Exceptional Surface Grades: Multiple >100 g/t Au results demonstrate significant mineralisation potential
• Large-Scale System: ~5km of prospective strike length across three distinct target areas
• Historical Validation: Documented mining success over multiple decades provides proof of concept
• Strategic Location: Arizona jurisdiction offers established mining infrastructure and regulatory framework
• Drill-Ready Status: Systematic approach has defined priority targets for immediate follow-up

The combination of outstanding surface grades, large-scale mineralised system, and imminent drilling program positions the Parker Project as a significant exploration opportunity. Moreover, the systematic surface sampling has transformed historical mining workings into modern exploration targets with clear geological rationale and drill priorities.

Catalyst Timeline:

• Q2 2026: Drill permitting and program commencement expected
• Q3 2026: Initial drill results anticipated
• Q4 2026: Potential resource definition and expansion drilling

The Magnum Mining and Exploration Parker Project results demonstrate characteristics consistent with significant gold-copper systems, with the upcoming drilling program representing a major catalyst for Magnum Mining. Consequently, the systematic approach to target definition, combined with exceptional surface results and historical mining context, establishes clear investment thesis for exposure to Arizona gold-copper discovery potential.

Could Parker Project Be Magnum's Next Major Discovery?

With multiple assays exceeding 100g/t gold and copper grades reaching 18.35% across a 5km mineralised corridor, Magnum Mining's Parker Project presents a compelling exploration opportunity. The company's systematic surface sampling has identified drill-ready targets at Eagle Nest and Red Breccia, with permitting underway for the first-pass drilling programme. As Magnum advances towards this critical exploration phase, investors seeking exposure to high-grade gold-copper discovery potential in Arizona's established mining jurisdiction should consider the investment implications. Discover more about Magnum Mining's Parker Project and upcoming drilling catalysts at www.mmel.com.au.