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Yes. That is exactly what a magnetic compass does.
a magnet, as in a fridge magnet cannot, but a magnetic compass can. a magnet compass points and directs itself the the north pole, where magnetic fields are located; this is why a magnetic compass can find directs as in NORTH SOUTH EAST OR WEST, it cannot say find it's way from say second street to third street,

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Q: Can a magnet be used for finding direction?
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