MAGNA GOLD CORP. ENTERS INTO LETTER OF INTENT TO ACQUIRE SAN JUDAS GOLD PROJECT IN SONORA, MEXICO – PROVIDES CORPORATE UPDATE

Magna Gold Press Release

TORONTO and NEW YORK, September 30, 2019 — Magna Gold Corp. (TSXV: MGR, OTCQB:MGLQF) (“Magna” or the “Corporation”), is pleased to announce that it has entered into a binding letter of intent (the “LOI”) dated September 30, 2019, with Ricardo Estanislao Carranza Leon, Maria del Rosario Mendivil Bejarano and Ernesto Villaescusa Cordova (the “Concessionaires”), individuals resident in the Sonora State of Mexico, for the assignment of the option (the “Option”) of a 100% undivided interest of two mining claims (the “San Judas Project”) located in the municipality of Trincheras, Sonora, Mexico, for a five-year period (the “Transaction”). The Project consists of two contiguous claims covering an aggregate area of approximately 2,806 hectares located approximately 240 kilometers north-west along the Federal Highway 16 from the state capital, Hermosillo. (Figure 1)

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