Magma Metals Limited

Magma Metals Limited

November 25, 2009 09:00 ET

Magma Metals Limited: Scoping Study (Preliminary Economic Assessment) Commences on Thunder Bay North Project

WEST PERTH, WESTERN AUSTRALIA--(Marketwire - Nov. 25, 2009) - Magma Metals Limited ("Magma" or "Company") (TSX:MMW)(ASX:MMW) is pleased to announce that it has commenced a Scoping Study (Preliminary Economic Assessment) on its Platinum-Palladium-Copper-Nickel deposit at the Thunder Bay North project in northwest Ontario. The Company announced initial Mineral Resource estimates for the project on 7th September, 2009.

AMEC Americas Limited, based in Vancouver, has been appointed project manager and will conduct mining engineering and metallurgical and process engineering studies on the mineral deposit.

DST Consulting Engineers Inc, based in Thunder Bay, has been appointed to conduct environmental work in relation to the Scoping Study and provide advice on a permitting program.

The outcomes of the Scoping Study will provide guidance on the potential economic development of the Mineral Resource at the project.

It is anticipated that the results of the Scoping Study will be available by the end of the June Quarter 2010.

Competent Person's Statement:
The information in this report that relates to Exploration Results or Mineral Resources is based on information reviewed or compiled by Dr Keith Watkins, the Executive Chairman of Magma Metals Ltd, who is a Fellow of the Australian Institute of Geoscientists and a Member of the Australasian Institute of Mining and Metallurgy. Dr Watkins has sufficient experience, which is relevant to the style of mineralization and type of deposit under consideration and to the activities undertaken to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (the JORC Code). Dr Watkins consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

ABN 72 114 581 047

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