Magnum Mining and Exploration Limited: Completes OTCID Submissions to Support U.S. Investor Engagement

Melbourne, Australia - Magnum Mining and Exploration Ltd. (ASX:MGU) (OTCMKTS:MGUFF) announced that it has completed the required OTCIQ submissions, including the posting of its 12g3-2(b) Certification and the upload of supporting Company information. Final processing by OTC Markets is now complete, and Magnum anticipates being moved to the OTCID market shortly. Magnum's primary listing remains on the ASX under the ticker MGU, with the Company's U.S. OTC quotation expected to be quoted under the symbol MGUFF.

Managing Director Antonio Vitor commented: "Advancing toward the OTCID market is an important step in improving Magnum's accessibility to U.S. investors. We believe now is the right time to launch this initiative, given our recent exploration success and the highly active workstreams planned across our Americas-focused portfolio.

In Brazil, Magnum has confirmed a true ionic adsorption clay-hosted REE discovery at Piracanjuba and is now undertaking a comprehensive 810-hole, 10,000m auger drilling campaign. This work will aim to rapidly delineate an Exploration Target and maiden JORC Mineral Resource Estimate, subject to exploration results. We anticipate reporting regular batches of assays and desorption results to the market over the coming months leading into these anticipated milestones which we believe will highlight the scale of the opportunity at Piracanjuba.

In the U.S., Parker drill permitting is well advanced, where high-grade rock-chip results returned up to 178g/t Au and 18.35% Cu across multiple target areas with 5km of combined prospective strike length. Further, our recent Wet Mountain REE acquisition provides Magnum with exposure to a U.S. carbonatite-hosted REE exploration opportunity where historical USGS sampling has reported up to 7.99% TREE.

Magnum is now focused on converting this strong portfolio position into the next phase of value creation for our shareholders. We believe improved U.S. investor access is both timely and strategically aligned with this objective and the Company's direction."

STRATEGIC RATIONALE FOR OTCID INITIATIVE

The OTCID submission supports Magnum's objective of improving accessibility for U.S.-based investors and strengthening the Company's engagement with U.S. capital markets and strategic groups. This is consistent with Magnum's current portfolio composition and strategic direction, which is focused heavily on projects in the Americas across rare earths, gold and copper. Of note are the Company's key projects of focus, which includes:

- Azimuth REE Project in Brazil: A confirmed IAC REE discovery at the Piracanjuba Prospect, which is currently undergoing a systematic 10,000m drilling campaign. The Company is aiming to rapidly delineate an Exploration Target and JORC Mineral Resource Estimate by September and November respectively.

- Parker Copper-Gold Project in Arizona, U.S.: Located within a previously unrecognised mineralised corridor in the highly prospective Walker Trend, Arizona, which hosts up to 50Moz gold, 700Moz silver and 4Mt copper. With 5km of combined prospective strike length and recent high-grade gold and copper results of up to 178g/t Au and 18.35% copper respectively, the Project highlights the potential to deliver the first modern gold-copper discovery in the district.

- Wet Mountain REE Project in Colorado, U.S.: Located within the strategic U.S. market, historical USGS sampling has reported high-grade REE anomalism associated with outcropping carbonatite dykes of up to 7.99% TREE.

ABOUT AZIMUTH REE PROJECT AND THE PIRACANJUBA PROSPECT, BRAZIL

The Azimuth REE Project is a green field exploration project highly prospective for REE. The project extends over 900km of the regional Azimuth 125 Deg (Az125 Deg) Lineament across the states of Goias and Minas Gerais, Brazil. The leases are 100% controlled by Magnum.

On 11 February 2026, the Company announced a new major potential large-scale IAC hosted REE discovery, with drilling intersecting significant REE mineralisation at the Piracanjuba Prospect, an untested greenfields area with an 85km2 geophysical anomaly. Assay results for the first 13 auger holes returned excellent grades of REE mineralisation within a thick clay section (Figures 1-3*). All drill holes intersected and ended in REE mineralisation, despite drill spacing of up to 5km, supporting the potential for a laterally extensive ore-body. The results were also accompanied with exceptional desorption recoveries of up to 75% TREO and 94% MREO.

ABOUT PARKER GOLD COPPER PROJECT, ARIZONA, U.S.

The Parker Project is located in La Paz County, western Arizona, approximately 14km northeast of the town of Parker within the Buckskin Mountains Province and lies along the southeastern extension of the Walker Lane gold-copper trend. The Project is approximately 5km from US Highway 95 (US-95) and is proximal to rail infrastructure at Parker on the Arizona & California Railroad. The Project comprises 79 unpatented federal lode mining claims covering approximately 6.58km2 and includes the Eagle Nest, Red Breccia and NSW Detachment target areas. The ground historically formed part of what was referred to as the Empire-Arizona Group or Arizona Standard Copper Company, with documented mining activity dating back to at least 1909.

On 12 March 2026, the Company reported that it had identified multiple continuous mineralised trends at the Project. On the 24 March 2026 and 9 April 2026, the Company reported high-grade gold and copper assays for the Eagle Nest, Red Breccia and NSW Detachment prospects. Select high-grade results (Figure 4*).

The Parker Project offers potential for the first modern gold-copper discovery in the district. It is located within a previously unrecognised mineralised corridor in the highly prospective Walker Trend, which hosts up to 50Moz gold, 700Moz silver and 4Mt copper (Figure 5*).

ABOUT WET MOUNTAINS REE PROJECT, COLORADO, U.S.

The Wet Mountain area has been historically well known for thorium and uranium mineralisation. Historical exploration has been centred on the Wet Mountains igneous complex comprising the McClure Mountain, Gem Park, and Democrat Creek complexes located in Fremont County, Colorado. The project consists of 126 contiguous unpatented federal lode mining claims covering an area of 10.46 km2. The area has had intensive investigation by the United States Geological Survey (USGS), particularly in reference to the REE exploration interest of the 1950s - 1980s.

As part of those investigations, areas of exceptional grades of REE mineralisation were defined by surface sampling of outcropping carbonatite dykes. In the area of the Wet Mountain claims, up to 79,900 ppm (7.99%) Total Rare Earth Elements (TREE) were delineated with zones of over 10,000 ppm (1%) TREE being evident (Figure 6*).

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/5BAT7U4L

About Magnum Mining And Exploration Limited:

Magnum Mining and Exploration Limited (ASX:MGU) (MGUFF:OTCMKTS) is engaged in mineral exploration and project development. The Company's core focus is establishing a critical-minerals business aligned with U.S. and allied market needs.

Source:
Magnum Mining And Exploration Limited

Contact:

Mark Pryn Company Secretary Email: info@mmel.com.au Phone: +61 3 9862 2966 Erik Bergseng CFA Investor Relations Email: ebergseng@nrinvestor.com.au Phone: +61 2 8350 0882