October 14, 2021
Toronto, Ontario – October 14, 2021 – Magna Gold Corp. (TSXV: MGR, OTCQB: MGLQF) (“Magna” or the “Company”), is pleased to report Q3 2021 production of 19,102 oz gold at an estimated cash cost of $1,134, from its San Francisco Mine in Sonora, Mexico. This represents a quarter over quarter production increase of 63%. Additionally, the strip ratio during the quarter was 2.62 which continues to trend towards the life of mine average of 2.5. Gold sold during the quarter was 18,276 ounces at an average realized gold price of $1,776 per ounce (1). The Company has produced 40,600 ounces of gold through the third quarter, its first complete quarter operating at full-scale commercial production. The Company reiterates full year gold production guidance of 55,000 to 65,000 ounces.