Minnova Announces Strategic Expansion Initiative to Target 2,000 TPD Mine
Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 217 Queen Street W., Suite 401
www.minnovacorp.ca Toronto, Ontario M5V 0R2
Minnova Announces Strategic Expansion Initiative to Target 2,000 TPD Mine
Production at PL Gold Mine and Option Grant
NOT FOR DISSEMINATION INTO THE UNITED STATES
December 29, 2025, Toronto, Ontario – Minnova Corp. (TSXV: MCI) (OTC Pink: AGRDF)
("Minnova" or the "Company") is pleased to announce it has directed A&B Global Mining, lead
engineer on the Preliminary Economic Assessment, to evaluate and design a significant
expansion of the PL Gold Mine’s current 1,000 tonnes per day (“tpd”) nameplate processing
capacity. The current plan involves recommencing mining operations through open pit mining
methods, with run-of-mine ("ROM") throughput aligned to process plant’s nameplate capacity. On
going work related to process plant refurbishment has recognized that the existing "front -end"
crushing plant infrastructure potentially possesses capacity well in excess of 1,000 tpd.
Preliminary assessments of the primary Traylor Jaw and secondary Symons Short Head Cone
crushers indicate that these robust components can support significantly higher volumes. Initial
work on an expansion plan will consist of a Technical Audit & Capacity Analysis (“TACA”),
including;
• Crushing Audit - verify existing crushers can sustain a crushing rate to achieve minimum
2,000 tpd.
• Motor/Drive Review - assess existing 100 HP motor on jaw crusher and 150 HP motor on
the cone crusher to handle ore at increased throughput.
• Choke Point Identification - assess existing dust collection, ore chutes and transfer point
capacities.
• Power Requirements - assess motor control center and transformer requirements at
increased throughput rate.
Photo 1: Crushing and Screening Building and Mill Feed Infrastructure
Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 217 Queen Street W., Suite 401
www.minnovacorp.ca Toronto, Ontario M5V 0R2
Photo 2: Crushing and Screening Building and Mill Feed Infrastructure
Should the TACA assessment confirm the current crushing capacity exceeds 2,000 tpd, the
expansion initiative will proceed to the Design & Engineering phase, with a target minimum
ROM mill feed rate of 2,000 tpd. Achieving this goal will necessitate a comprehensive redesign of
specific crusher plant processes, as well as the duplication of the following components: a) fine
ore storage capacity, b) ore conveyor systems, and c) milling, gravity, flotation and concentrate
leaching processes along with the existing Merrill-Crowe gold recovery circuit. All new equipment
will be installed in parallel with the established infrastructure.
By doubling the processing plant ROM throughput capacity, Minnova aims to leverage existing
infrastructure and dramatically enhance the project’s economics in the current high gold price
environment. This expansion initiative reflects the Company’s commitment to maximizing the
value of its existing infrastructure. The successful restart of the PL Gold Mine at a targeted 2,000
tpd throughput rate from open mining operations will position Minnova as a more significant gold
producer, providing a robust operational foundation for the eventual transition to underground
mining operations.
Option Grant
Pursuant to the Company's LTIP the Company announces that its board of directors has approved
an option grant of 2,500,000 options to purchase common shares of the Company exercisable at
a price of $0. 20 per common share for a period of 5 years, to certain directors, officers,
employees, and consultants. The common shares issuable upon exercise of the options are
subject to a four month hold period from the original date of grant. These stock options ves t
immediately.
Qualified Person
Chris Buchanan, MSc, PGeo, is an independent consultant of the company and a qualified person
under National Instrument 43 -101, has reviewed and approved the scientific and technical
information in this news release.
Minnova Corp. Office: +1 647 985 2785
MCI:TSXV 217 Queen Street W., Suite 401
www.minnovacorp.ca Toronto, Ontario M5V 0R2
About Minnova Corp.
Minnova Corp. is a near term gold producer focused on the restart and expansion of its 100% -
owned PL Gold Mine in the prolific Flin Flon Greenstone Belt of Central Manitoba. The project is
situated on a past producing mine site and benefits from significant existing infrastructure,
including a 1,000 tpd processing plant and valid underground mining permit (Environment Act
License 1207E).
A positive 2018 Feasibility Study, based on an underground development plan and a gold price
of US$1,250 per ounce, outlined a robust 5-year mine life with an annual production rate of 46,493
ounces. Considering current high gold price Minnova is revising the mine development plan to
prioritize lower-cost open pit mining methods for the initial years of production before transitioning
to underground methods.
A revised mine development plan that leverages the full 1,000 tpd process plant capacity and
targets reduced operating costs compared to the previous underground-only model is underway
and will be the subject of a Preliminary Economic Assessment and Feasibility Study to be
completed in 2026. The current global gold resource remains open to expansion, as does the
reserve. The Mineral Resource Estimate will be revised in 2026, using current consensus gold
price assumption and will incorporate all drilling conducted after the 2018 Feasibility Study,
including a 15,000-meter drill program currently in progress.
For more information please contact:
Minnova Corp.
Gorden Glenn
President & Chief Executive Officer
Tel: (647) 985-2785
For further information, please contact Investor Relations at [email protected]
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.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction
may constitute a violation of U.S. Securities laws.