Minnova Corporate Update on PL Gold Mine Restart project and Year End Audit
Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 217 Queen Street W., Suite 401
www.minnovacorp.ca Toronto, Ontario M5V 0R2
Minnova Corporate Update on PL Gold Mine Restart project and Year End Audit
NOT FOR DISSEMINATION INTO THE UNITED STATES
August 8, 2024, Toronto, Ontario – Minnova Corp. (TSXV: MCI, OTC Pink: AGRDF, "Minnova”
or the “Company”), is pleased to provide the following corporate update related the PL Gold Mine.
We are pleased to provide and update on the 100% owned PL Gold Mine. Since completing a
positive Feasibility Study in 2017 the price of gold has increased significantly from the then base
case model ed gold price assumption of US$1 ,250 per ounce to current gold price of over
US$2,400 per ounce. As such we are eager to restart work programs to further derisk the project
and advance its restart.
Planned PL Gold Mine programs, include;
• Diamond drilling – infill and expansion drilling with a focus on PL North zone
• Update mineral resource estimate – Current mineral resource estimate only includes drill
results to June 2017
• Small open pit to extract a bulk sample – update metallurgy
• Updated mine plan to include open mining methods from start of mining operations
• Updated Feasibility Study - the existing Feasibility Study was completed in 2017
Finally, as part of the feasibility study the Company will also evaluate the onsite production of a
bullion gold product (99.999% gold) utilizing currently available refining technologies. The initiative
to consider development of a refinery and production of is driven by growing investor demand for
gold-backed investments. Refined gold production coupled with block chain technologies offer s
investors a physical gold backed digital gold investment option as an alternative to current gold
ETF investment options and potentially even to royalty and streaming companies.
We would also like to confirm that the audit process in on going and the Company anticipates that
it will in a position to prepare and file the Annual Financial Statements and MD&A on or prior to
August 31, 2023.
About Minnova Corp.
Minnova Corp. is an evolving technology, energy and metals company building a worldwide
pipeline of green energy projects. Our subsidiary, Minnova Renewable Energy, is focused on
innovative carbon use and carbon reduction technologies. Separately the company is participating
in large scale green hydrogen production via electrolysis at the Flin Flon Clean Energy Hub
initiative.
Our mining strategy is focused on the restart of its PL Gold Mine, which included completion of a
Positive Feasibility Study in 2017. The study concluded the restart of the PL Mine, at an average
annual production rate of 46,493 ounces over a minimum 5 -year mine life was economically
robust. Importantly the global resource remains open to expansion, as does the reserve. The PL
Gold Mine benefits from a short pre -production timeline forecast at 15 months, a valid
underground mining permit (Environment Act 1207E), an existing 1,000 tpd processing plant, over
Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 217 Queen Street W., Suite 401
www.minnovacorp.ca Toronto, Ontario M5V 0R2
7,000 meters of developed underground ramp to -135 metres depth . The project is fully road
accessible and close to existing mining infrastructure.
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
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Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward
looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”,
“estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or
conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions
and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ materially from those projected in the forward-looking information.
For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the
Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking
information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is
cautioned not to place undue reliance on forward-looking information.
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