MAGNA GOLD CORP. ENTERS INTO DEFINITIVE AGREEMENT TO ACQUIRE LOS MUERTOS SILVER PROJECT IN SONORA, MEXICO

MagnaGold_11082020

Toronto, August 11, 2020 – Magna Gold Corp. (TSXV: MGR, OTCQB: MGLQF)
(“Magna” or the “Company”) is pleased to announce that it has entered into an option
agreement with a private party to acquire a 100% undivided interest in the Los Muertos silver-gold project located in the municipality of La Colorada, Sonora, Mexico.

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