Logistic Reviews Progress at Buena Vista

Highlights:

• Identification of optimal rail load out site progressing; down to two candidates
• Discussions with rail providers advances; rail design to begin
• Options for mine to railroad haulage crystallises as costs defined
• Multiple port options verified; bespoke port services partner identified
• Arrowhead initiates coverage of Magnum

Magnum Mining & Exploration (ASX: MGU, “Magnum” or “the Company”) is progressing its logistics studies in support of a mine start-up at the Buena Vista Iron Project in Nevada, USA (“the Project”). Work is focussed on the following logistics activities:

• Rail load out facilities, including:
  • Choice of the optimal location of the facility
  • Identification of available land and utilities to support the loadout operation
  • Advisory talks with rail providers on access to Right of Way land, spur lines, switching, and capacities

• Magnetite concentrate haulage, including:
  • Optimal route identification
  • Road access and maintenance agreements with the local counties
  • Upgrade and road maintenance costs
  • Traffic studies to support the safe operation of the proposed haulage operation

• Progression of negotiations with port operators for the receival, storage, and ship loading of Buena Vista Direct Reduction Iron (DRI) grade magnetite concentrates.