Magna Gold Files Independent Technical Report for the Margarita Silver Project

Toronto, Ontario – June 1, 2022 – Magna Gold Corp. (TSXV: MGR, OTCQB: MGLQF) (“Magna” or the “Company“) is pleased to announce that, further to its news release dated April 21, 2022, it has filed an independent technical report entitled “NI 43-101 Technical Report Initial Mineral Resource Estimate for the Margarita Silver Project Chihuahua, Mexico” and dated May 24, 2022, with an effective date of April 8, 2022 (the “Technical Report“). The Technical Report was prepared by Richard M. Gowans, P.Eng., William J. Lewis, P.Geo., Chitrali Sarkar, M.Sc., P.Geo., and Ing. Alan J. San Martin, MAusIMM (CP) of Micon International Limited, and Rodrigo Calles-Montijo, CPG, of Servicios Geológicos IMEx, S.C. A copy of the Technical Report is available under Magna’s profile on SEDAR.

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