Minnova Corp. Office: +1 647 985 2785
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Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 365 Bay Street, Suite 400
www.minnovacorp.ca Toronto, Ontario M5H 2V1
Minnova Corp. Reports
Additional High Grade Gold Assays from PL Deposit
including 298.05 g/t Au over a core length of 0.3 meters1
NOT FOR DISSEMINATION INTO THE UNITED STATES
May 23, 2017, Toronto, Ontario – Minnova Corp. (TSXV: MCI, OTC Pink: AGRDF, " Minnova”
or the “ Company”), an advanced-stage mining exploration and gold development c ompany
focused on the advancement and re-start of our 100% owned PL Go ld Mine in central Manitoba
is pleased to announce further additional positive results from Phase 1 of its 2017 PL Gold
Deposit in-fill drilling program.
Highlighted intercepts include;
298.05 g/t over 0.30 m
81.90 g/t over 0.78 m
70.35 g/t over 1.04 m
23.28 g/t over 0.65 m
32.25 g/t over 1.00 m
27.02 g/t over 1.00 m
Of note in this release are hole M-17-19, which intercepted two well mineralized shear zones
from 89.22m to 92.00m and from 122.00m to 125.00m and hole M-17 -14 which intersected
bonanza grade of 298.05 g/t Au over 0.30m. Hole M-17-14 success fully tested the up dip
projection of the Main and Lower Main shear zones. The shallow, high grade gold mineralization
reported in M-17-14 will be updated in a new revised geological model and mine plan and could
represent an area for a future underground test mining program. Hole M-17-14’s high grade
intercepts are in close proximity to other high grade intercept s noted in Holes M-17-04, 05 and
20.
Full and partial assay results have now been received for 24 of the 50 diamond drill holes
completed as part of our Phase 1, 10,000 meter drilling program . See Table 1 for details on
assay results received to date.
The PL Deposit consists of multiple, stacked shear zones trendi ng northwest-southeast and
defined in drill core over a strike length of over 1 kilometer. The deposit remains open to
expansion along strike and down dip. The Phase 1 in-fill drilli ng program was designed to target
the shallow portion of the deposit between surface (the resourc e sub-crops) and -150 meters
vertical; across the strike length of known mineralization with a goal of upgrading the current
measured, indicated and inferred resources.
Gorden Glenn, CEO commented “Hole M-17-14’s bonanza grade inter cept is one of the highest
grade gold intercepts ever reported at the PL deposit and repre sents a priority target for future
drilling to expand this area of shallow, high grade gold minera lization. In addition to continued
positive drill results to support an updated geological model a nd new mine plan we are pleased
to report that work on the Feasibility Study is progressing ver y well with quotes for most major
`
Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 365 Bay Street, Suite 400
www.minnovacorp.ca Toronto, Ontario M5H 2V1
capital items and services secured. It is anticipated the Feas ibility Study will be completed in
July 2017 in support of project financing discussions to re-start the PL mine”.
Table 1: Drill results with gold assays greater that 5 g/t
Hole Location Azimuth/Incl. From (m) To (m) Length (m) 1 Au gpt
M‐17‐04 373349E/6100641N 0/‐90 110.00 112.00 2.00 9.29
including 111. 00 112.00 1.00 17.46
M‐17‐05 373293E/6100630N 0/‐90 77.00 81.00 4.00 5.19
including 79.0 0 81.00 2.00 7.67
including 79.0 0 80.00 1.00 13.31
M‐17‐06 373169E/6100678N 0/‐90 57.65 59.30 1.65 9.39
M‐17‐07 373245E/6100650N 0/‐90 58.65 59.30 0.65 23.28
M‐17‐09 373199E/6100617N 0/‐90 51.50 54.00 2.50 10.88
including 52.0 0 53.28 1.28 18.77
including 53.0 0 53.28 0.28 57.64
M‐17‐10 373212E/6100603N 0/‐90 23.00 25.00 2.00 5.47
including 23.0 0 24.00 1.00 7.79
65.00 67.00 2.00 26.73
including 66.0 0 67.00 1.00 53.36
M‐17‐11 373220E/6100573N 0/‐90 12.30 15.85 3.55 20.23
including 12.3 0 12.60 0.30 131.29
13.65 15.85 2.20 14.09
35.82 36.15 0.33 17.67
62.40 63.95 1.55 6.45
including 62.4 0 63.35 0.95 9.71
74.85 75.26 0.41 16.61
M‐17‐12 373250E/6100578N 0/‐90 29.00 33.00 4.00 8.79
including 29.0 0 32.00 3.00 11.09
including 30.0 0 32.00 2.00 14.86
including 30.0 0 31.00 1.00 21.23
65.00 68.00 3.00 9.66
65.00 66.50 1.50 18.80
M‐17‐13 373540E/6100725N 0/‐90 245.00 246.00 1.00 6.30
M‐17‐14 373190E/6100630N 0/‐90 38.10 46.65 8.55 10.98
including 38.10 38.47 0.37 11.03
including 46.35 46.65 0.30 298.05
M‐17‐16 373155E/6100700N 0/‐90 58.00 60.00 2.00 10.67
including 58.0 0 59.00 1.00 21.25
84.00 87.25 3.25 5.75
including 84.5 0 85.50 1.00 16.19
M‐17‐17 373262E/6100575N 0/‐90 63.00 68.00 5.00 16.38
including 63.00 64.00 1.00 23.79
including 64.00 65.00 1.00 8.73
including 65.00 66.00 1.00 15.76
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Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 365 Bay Street, Suite 400
www.minnovacorp.ca Toronto, Ontario M5H 2V1
including 66.00 67.00 1.00 10.36
including 67.00 68.00 1.00 23.28
M‐17‐18 373580E/6100745N 0/‐90 166.00 168.00 2.00 5.09
including 166.00 167.00 1.00 9.85
M‐17‐19 373290E/6100605N 0/‐90 89.22 92.00 2.78 37.35
including 89.22 90.0 0 0.78 81.90
90.00 91.00 1.00 32.25
91.00 92.00 1.00 7.70
122.00 125.00 3.00 34.34
122.00 123.00 1.00 5.80
123.00 124.00 1.00 1.52
124.00 125.00 1.00 27.02
M‐17‐20 373283E/6100679N 0/‐90 125.00 130.00 5.00 8.60
including 127.5 0 130.00 2.50 15.52
84.00 87.25 3.25 5.75
including 84.5 0 85.50 1.00 16.19
M‐17‐21 373540E/6100725N 0/‐90 275.00 279.00 4.00 6.22
including 275.0 0 276.17 1.17 8.54
278.00 279.00 1.00 14.49
M‐17‐23 373220E/6100695N 0/‐90 107.00 112.00 5.00 15.79
including 110.0 0 111.04 1.04 70.35
M‐17‐24 373220E/6100720N 0/‐90 124.00 125.00 1.00 6.63
(NOTE 1: core intersection lengths approximate 85% true width, a ssay results are uncut, fire assay with gravimetric finish on
samples >10 g/t)
QA/QC Statement
All samples were sawn and separated with one half being returne d to the core box for reference
and the other being bagged in a plastic sample bag which was la beled, tagged, documented
and sealed. Samples were placed in labelled rice sacks and seal ed with a security zip-tie.
Initially samples were delivered to the Accurassay Laboratories in Thunder Bay Ontario. Due to
an unforeseen closure of the Accurassay lab samples were re-rou ted to SGS Canada Inc. and
their labs in Burnaby, BC and Cochrane, Ontario. Receipt of the samples was signed off at all
preparation labs and tracked by the Company. Pulps of each samp le were prepared and
followed by fire assay and gravimetric analysis, if required. A QA/QC program including the
regular insertion by the Company of duplicates, blanks and stan dards was instituted. Sample
lengths varied according to geology and mineralization with quartz veins regularly sampled.
About Minnova Corp.
Minnova Corp. is an emerging Canadian gold producer focused on re-starting the PL Gold Mine
and expanding gold resources on its PL and Nokomis gold deposit s. The Company completed
an Updated PEA which supports average annual production of 48,1 00 ounces over a +10 year
mine life. Work to date supports advancing the project toward production with an initial program
of detailed definition drilling to be followed by a future unde rground test mining and bulk sample
`
Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 365 Bay Street, Suite 400
www.minnovacorp.ca Toronto, Ontario M5H 2V1
program and completion of a Feasibility Study to bring the PL Mine back into production. The PL
Gold Mine has a valid underground mining license, an existing 1 ,000 tpd flotation mill, over
7,000 meters of developed underground ramp to -135 metres depth , is fully road accessible and
close to existing mining infrastructure in the prolific Flin Fl on – Snow Lake Greenstone Belt of
Central Manitoba.
Qualified Person
Mr. Chris Buchanan, M. Sc., P. Geo., a consultant of the Compan y and a “Qualified Person”
under National Instrument 43-101, has reviewed and approved the scientific and technical
information in this press release.
For more information please contact:
Minnova Corp.
Gorden Glenn
President & Chief Executive Officer
For further information, please contact Investor Relations at 647-985-2785 or
Visit our website at www. minnovacorp.ca
Forward Looking Statements
This news release contains "forward‐looking information" within t h e m e a n i n g o f a p p l i c a b l e C a n a d i a n s e c u r i t i e s l e g i s l a t i o n .
Forward‐looking information includes, but is not limited to, in formation regarding the Comp any including management’s
assessment of future plans and operations, that may involve ris k s a s s o c i a t e d w i t h m i n i n g e x p l o r a t i o n a n d d e v e l o p m e n t ,
volatility of prices, currency fluctuations, imprecision of res ource estimates, environmental and permitting risks, access to labour
and services, competition from ot h e r c o m p a n i es a n d a b i l i t y t o access sufficient capital. As a consequence, actual results may
differ materially from those anticipated in the forward looking statements. Disclosure related to the 2015 Updated Preliminary
Economic Assessment (the “2015 PEA”‐ the 2015 PEA is preliminary in nature, it includes inferred mineral resources that are
considered too speculative geologically to have the economic considerations applied to them that would enable them to be
categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. A feasib ility
study has not been completed and there is no certainty the disc losed targets will be achieved nor that the proposed operations
will be economically viable. Although Minnova has attempted to identify important factors that could cause actual results to
differ materially from those contained in forward‐looking infor mation, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance t hat such information will prove to be accurate, as actual resul ts
and future events could differ materially from those anticipated in such information. Accordingly, readers should not place
undue reliance on forward‐looking information. Minnova does not undertake to update any forward‐looking information, except
in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.