Final Gold Assays from Phase 1 PL Deposit Drill Program and Initiates Updated PL Deposit Mineral Resource Estimate
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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
Final Gold Assays from Phase 1 PL Deposit Drill Program
and Initiates Updated PL Deposit Mineral Resource Estimate
NOT FOR DISSEMINATION INTO THE UNITED STATES
July 18, 2017, Toronto, Ontario – Minnova Corp. (TSXV: MCI, OTC Pink: AGRDF, "Minnova”
or the “Company”), an advanced- stage mining exploration and gold development company
focused on the advancement and re- start of its 100% owned PL Gold Mine in central Manitoba
is pleased to announce final assay results from Phase 1 of its 2017 PL Gold Deposit in-fill
drilling program. The Company also announces that it has engaged CSA Global Canada
Geosciences Ltd. (“CSA”) to initiate an updated mineral resource estimate for the PL deposit.
Highlighted intercepts include;
21.69 g/t over 0.95 m
37.90 g/t over 0.93 m
23.90 g/t over 1.17 m
12.70 g/t over 1.00 m
12.40 g/t over 1.00 m
10.30 g/t over 1.00 m
Gorden Glenn, CEO commented “Our 2017 drill program achieved a high level of success ,
intersecting multiple zones of high grade gold mineralization, including one of the highest grade
gold intercepts ever reported at the PL deposit (298.05 g/t over 0.30 m in hole M -17-14). With
Phase 1 drilling complete we are now in a position to update our PL Deposit mineral resource
estimate in support of our ongoing feasibility study and planned underground test mining
program to be initiated fall 2017. It is anticipated the feasibility study will be completed in August
2017 in support of project financing discussions to re-start the PL mine”.
The 2017 drill program has advanced the Company’s technical understanding of the PL Deposit
with the recognition of new structural controls on the formation of higher-order mineralized shear
zones within the deposit that provide multiple targets for the discovery and expansion of higher-
grade mineralized shoots. The new exploration targets include: conjugate shear zones,
mineralized shoots plunging along the intersections of existing zones, and previously
unrecognized shear zones that link the historical mineralized zones. The recognition of a
conjugate shear zones controlling mineralization provides a comprehensive structural
framework to begin re-modeling the deposit and understanding the controls on mineralization.
The PL Deposit consists of multiple, stacked shear zones trending northwest-southeast that are
defined in drill core for a st rike length of over 1 kilometer. The deposit remains open to
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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
expansion along strike and down dip. The Phase 1 in-fill drilling program was designed to target
the shallow portion of the deposit between surface (the res ource sub-crops) and - 150 meters
vertical; across the strike length of k nown mineralization with a goal of upgrading the current
measured, indicated and inferred resources.
Table 1: Drill results with gold assays greater that 4 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 79.00 81.00 2.00 7.67
including 79.00 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 52.00 53.28 1.28 18.77
including 53.00 53.28 0.28 57.64
M-17-10 373212E/6100603N 0/-90 23.00 25.00 2.00 5.47
including 23.00 24.00 1.00 7.79
and 65.00 67.00 2.00 26.73
including 66.00 67.00 1.00 53.36
M-17-11 373220E/6100573N 0/-90 12.30 15.85 3.55 20.23
including 12.30 12.60 0.30 131.29
including 13.65 15.85 2.20 14.09
and 35.82 36.15 0.33 17.67
and 62.40 63.95 1.55 6.45
including 62.40 63.35 0.95 9.71
and 74.85 75.26 0.41 16.61
M-17-12 373250E/6100578N 0/-90 29.00 33.00 4.00 8.79
including 29.00 32.00 3.00 11.09
including 30.00 32.00 2.00 14.86
including 30.00 31.00 1.00 21.23
and 65.00 68.00 3.00 9.66
including 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 58.00 59.00 1.00 21.25
and 84.00 87.25 3.25 5.75
including 84.50 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
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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 64.00 65.00 1.00 8.73
including 65.00 66.00 1.00 15.76
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 90.00 0.78 81.90
including 90.00 91.00 1.00 32.25
including 91.00 92.00 1.00 7.70
and 122.00 125.00 3.00 34.34
including 122.00 123.00 1.00 5.80
including 123.00 124.00 1.00 1.52
including 124.00 125.00 1.00 27.02
M-17-20 373283E/6100679N 0/-90 125.00 130.00 5.00 8.60
including 127.50 130.00 2.50 15.52
and 84.00 87.25 3.25 5.75
including 84.50 85.50 1.00 16.19
M-17-21 373540E/6100725N 0/-90 275.00 279.00 4.00 6.22
including 275.00 276.17 1.17 8.54
and 278.00 279.00 1.00 14.49
M-17-23 373220E/6100695N 0/-90 107.00 112.00 5.00 15.79
including 110.00 111.04 1.04 70.35
M-17-24 373220E/6100720N 0/-90 124.00 125.00 1.00 4.25
M-17-25 373278E/6100714N 0/-90 113.75 114.75 1.00 8.66
and 137.00 138.00 1.00 6.96
M-17-26 373664E/6100820N 0/-90 345.00 346.95 1.95 12.41
including 346.00 346.95 0.95 21.69
M-17-27 373324E/6100730N 0/-90 163.07 165.00 1.93 19.00
including 163.07 164.00 0.93 37.90
M-17-28 373282E/6100735N 0/-90 147.02 148.00 0.98 4.55
M-17-29 373317E/6100708N 0/-90 128.00 129.00 1.00 4.85
M-17-30 373740E/6100581N 0/-90 179.00 181.00 2.00 4.27
including 180.00 181.00 1.00 6.41
M-17-31 373139E/6100762N 0/-90 116.75 117.75 1.00 4.57
M-17-33 373700E/6100599N 0/-90 135.00 137.00 2.00 10.20
including 136.00 137.00 1.00 12.40
M-17-34 373179E/6100838N 0/-90 92.00 93.00 1.00 6.08
M-17-35 373394E/6100705N 0/-90 160.00 161.00 1.00 4.07
and 177.62 178.34 0.72 4.00
M-17-36 373762E/6100544N 0/-90 127.00 128.00 1.00 5.22
M-17-37 373384E/6100769N 0/-90 152.00 153.00 1.00 12.70
M-17-39 373327E/6100771N 0/-90 156.00 158.00 2.00 7.46
and 174.00 176.00 2.00 4.88
including 175.00 176.00 1.00 7.97
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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
M-17-42 373681E/6100540N 0/-90 212.00 213.00 1.00 4.84
M-17-44 373429E/6100771N 0/-90 134.00 135.00 1.00 10.30
M-17-45 373839E/6100038N 0/-90 179.00 186.23 7.23 5.98
including 183.83 185.00 1.17 23.90
M-17-46 373449E/6100742N 0/-90 195.00 196.00 1.00 5.99
NOTES:
• True widths vary depending on the vein zone intersected but generally approximate 85% of the down hole interval,
• Assay 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 returned to the core box for reference
and the other being bagged in a plastic sample bag which was labeled, tagged, documented
and sealed. Samples were placed in labelled rice sacks and sealed 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- routed to SGS Canada Inc. and
their labs in Burnaby, BC and Cochrane, Ontario. Subsequent to that, in order to improve assay
turnaround time, the company engaged Act ivation Laboratories Ltd. in Thunder Bay Ontario.
Receipt of the samples was signed off at all preparation labs and tracked by the Company .
Pulps of each sample were prepared and followed by fire assay and gravimetr ic analysis, if
required. A QA/QC program including the regular insertion by the Company of duplicates,
blanks and standards 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 res ources on its PL and Nokomis gold deposits. The Company completed
an Updated PEA which supports average annual production of 48,100 ounc es 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 underground test mining and bulk sample
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 exis ting mining infrastructure in the prolific Flin Flon – Snow Lake Greenstone Belt of
Central Manitoba.
Qualified Person
Mr. Chris Buchanan, M. Sc., P. Geo., a consultant of the Company and a “Qualified Person”
under National Instrument 43- 101, has reviewed and approved the scientific and technical
information in this press release.
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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
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 the meaning of applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to, information regarding the Company including management’s
assessment of f uture plans and operations, that may involve risks associated with mining exploration and development,
volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour
and services, compet ition from other companies and ability to 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 (th e “2015 PEA” - the 2015 PEA is preliminary in nature, it includes inferred mineral res ources 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 feasibility
study has not been completed and there is no certainty the disclosed targets will be achieved nor that the proposed operations
will be economically viable. A lthough Minnova has attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results
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.