Ann: Magnum Progress Update, page-16

MGU AND TESLA
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HiKurt,

Thankyou for your support of Magnum.

Toanswer your questions:

1.The TESLA GIGA Factory is only about 100km west of our mining operation. We dointent to become their local supplier. Once our 68pct Fe concentrate isavailable, we will reach out to TESLA.

Ourassociation with TESLA can also extend to carbon credits. Our GREEN pig ironplant will be carbon neutral or carbon negative using local biomass. We believethere is added benefit with our close proximity to the GIGA factory for carboncredit trading discussion once the rules become clear.

2.Yes, we did record the Webinar. We will post the video on our website shortlyafter some necessary edits.

Onbehalf of our board, I again like to thank you for your inputs and support. Weare working hard to bring maximum value to our shareholders.

StayTuned.

Brgds

Dano