MAGNA GOLD CORP. PROVIDES UPDATE ON ACQUISITION OF THE SAN FRANCISCO MINE AND PRIVATE PLACEMENT

Magna Gold Corp_ News

TORONTO and NEW YORK, April 24, 2020 – Magna Gold Corp. (TSXV: MGR, OTCQB: MGLQF) (“Magna” or the “Company”) is pleased to provide an update on the proposed acquisition of the San Francisco Mine located in Sonora, Mexico (the “Acquisition”) pursuant to a definitive share purchase agreement dated March 5, 2020 (the “Definitive Agreement”) between Timmins GoldCorp Mexico S.A. de C.V. (“Timmins”), a wholly-owned subsidiary of Alio Gold Inc., and the Company.

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