# PL Gold Mine Restart Update Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/pl-gold-mine-restart-update--15844a4a-c8b0-4c4b-82f9-85f37ea2a78c Original source: https://www.newsfilecorp.com/release/313908/PL-Gold-Mine-Restart-Update Publisher: newsfile Original announcement: 2026-09-10T21:15:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Minnova Corp. - Ticker: MCI - Exchange: Unavailable - Region: Manitoba - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-09-10 22:17:18 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Minnova Corp. has released its 2026 Mineral Resource Estimate for the PL Gold Mine in Manitoba, defining 601,158 oz of Measured & Indicated gold at 4.98 g/t. The update highlights a high-grade open-pit component \(5.28 g/t\) intended to drive the initial restart of the mine. Reasoning: The 2026 MRE provides a high-grade gold resource with significant M&I tonnage and grade, supporting a restart plan. - Positive factor: High-grade open pit resource \(5.28 g/t\) - Positive factor: Significant M&I gold ounces \(601,158 oz\) - Positive factor: Resource expansion potential noted - Positive factor: QP sign-off provided - Negative factor: Historical 2017 estimate is considered stale/unreliable Facts used in scoring: 9 ## Classification and evidence **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared under the supervision of a Qualified Person as defined under NI 43-101. Evidence · text > Qualified Person as defined under National Instrument 43-101 **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Nicholas Ross King is named as the Qualified Person for the MRE. Evidence · text > supervision of Nicholas Ross King... a Qualified Person **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The document explicitly states cut-off grades for open pit \(0.60 g/t\) and underground \(1.92 g/t and 1.43 g/t\). Evidence · text > Open-pit Mineral Resources: A cut-off grade of 0.60 g/t Au was applied **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a mill\_cil route \("CIP"\) **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: the document describes a gravity route \("gravity"\) ## Extracted facts Stored fact records: 9. Some facts used in scoring do not have a stored record. ## Resource Estimates (9) ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/pl-gold-mine-restart-update--15844a4a-c8b0-4c4b-82f9-85f37ea2a78c#fact-resource-facts-0) PL Gold Mine · gold #### Identity - Project: PL Gold Mine - Commodity: gold - Region: canada\_mb - Reported Region: Manitoba - Ticker: MCI #### Resource Data - Category: measured - Tonnes: 1288360 - Grade: 5.35 - Grade Unit: g/t - Contained Metal: 221575 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-10T00:00:00.000Z Reasoning: High-grade measured intercept in open pit. - Positive factor: High grade for measured category Evidence · table > 5.35 Context: 1,288,360 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pl-gold-mine-restart-update--15844a4a-c8b0-4c4b-82f9-85f37ea2a78c#fact-resource-facts-1) PL Gold Mine · gold #### Identity - Project: PL Gold Mine - Commodity: gold - Region: canada\_mb - Reported Region: Manitoba - Ticker: MCI #### Resource Data - Category: indicated - Tonnes: 289750 - Grade: 4.99 - Grade Unit: g/t - Contained Metal: 46516 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-10T00:00:00.000Z Reasoning: Standard indicated resource grade. Evidence · table > 4.99 Context: 289,750 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pl-gold-mine-restart-update--15844a4a-c8b0-4c4b-82f9-85f37ea2a78c#fact-resource-facts-2) PL Gold Mine · gold #### Identity - Project: PL Gold Mine - Commodity: gold - Region: canada\_mb - Reported Region: Manitoba - Ticker: MCI #### Resource Data - Category: indicated - Tonnes: 835239 - Grade: 4.26 - Grade Unit: g/t - Contained Metal: 114464 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-10T00:00:00.000Z Reasoning: Underground indicated resource. Evidence · table > 4.26 Context: 835,239 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/pl-gold-mine-restart-update--15844a4a-c8b0-4c4b-82f9-85f37ea2a78c#fact-resource-facts-3) PL Gold Mine · gold #### Identity - Project: PL Gold Mine - Commodity: gold - Region: canada\_mb - Reported Region: Manitoba - Ticker: MCI #### Resource Data - Category: inferred - Tonnes: 1667132 - Grade: 3.78 - Grade Unit: g/t - Contained Metal: 202810 - Contained Unit: oz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-10T00:00:00.000Z Reasoning: Significant inferred tonnage. Evidence · table > 3.78 Context: 1,667,132 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pl-gold-mine-restart-update--15844a4a-c8b0-4c4b-82f9-85f37ea2a78c#fact-resource-facts-4) PL Gold Mine · measured #### Identity - Project: PL Gold Mine - Commodity: measured - Ticker: MCI #### Resource Data - Category: indicated - Grade: 0.6 - Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-10T00:00:00.000Z Reasoning: The 2026 MRE provides a high-grade gold resource with significant M&I tonnage and grade, supporting a restart plan. - Positive factor: High-grade open pit resource \(5.28 g/t\) - Positive factor: Significant M&I gold ounces \(601,158 oz\) - Positive factor: Resource expansion potential noted - Positive factor: QP sign-off provided - Negative factor: Historical 2017 estimate is considered stale/unreliable Evidence · text > Indicated Resources: 268,091 gold ounces \( 1,578,110 tonnes @ 5.28 g/t\) Inferred Resources: 21,955 gold ounces \( 118,689 tonnes @ 5.75 g/t\) Underground \(UG\) Grade: 4.75 g/t gold Measured & Indicated Resources: 333,066 gold ounces \( 2,178,916 tonnes @ 4.75 g/t\) Inferred Resources: 180,855 gold ounces \( 1,548,443 tonnes @ 3.63 g/t\) Total Resource Measured & Indicated Resources: 601,158 gold ounces \( 3,757,026 tonnes @ 4.98 g/t\) Inferred Resources: 202,810 gold ounces \( 1,667,132 tonnes @ 3.78 g/t\) Table 1. PL Gold Deposit Mineral Resource Estimate as of September 11, 2026 Category Tonnes Au Grade \(g/t\) Contained Au \(oz\) PL Deposit – Open Pit: Cut-Off Grade 0.60 g/t Measured 1,288,360 5.35 221,575 Indicated 289,750 4.99 46,516 Measured & Indicated 1,578,110 5.28 268,091 Inferred 118,689 5.75 21,955 PL Deposit – Underground: Cut-Off Grade 1.92 g/t and 1.43 g/t Measured 1,343,678 5.06 218,603 Indicated 835,239 4.26 114,464 Measured & Indicated 2,178,916 4.75 333,066 Inferred 1,548,443 3.63 180,855 PL Deposit – Open Pit and Underground: Cut-Off Grade 0.06 g/t, 1.92 g/t and 1.43 g/t Measured 2,632,038 5.20 440,178 Indicated 1,124,989 4.45 160,980 Measured & Indicated 3,757,026 4.98 601,158 Inferred 1,667,132 3.78 202,810 Notes: Mineral Resources are reported in accordance with the 2014 CIM Definition Standards . Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Open-pit Mineral Resources: A cut-off grade of 0.60 g/t Au was applied to the Mineral Resource. The cut-off grade was based on mining costs of US$6.70/t for ore and US$5.48/t for waste, processing costs of US$29.25/t, G&A costs of US$12.60/t, metallurgical recovery of 90%, and a gold price of US$3,000/oz. An open-pit optimization study was undertaken to establish the ultimate open-pit limits and demonstrate Reasonable Prospects for Eventual Economic Extraction \(RPEEE\). Mining dilution and mining recovery assumptions were incorporated into the optimization and mine planning studies used to establish these limits. The resulting open-pit limits were then used to constrain the reported Mineral Resource excluding mining recovery and dilution factors. Underground Mineral Resources: Underground MSO shapes were developed to identify potentially economic mining areas and establish the underground mining limits. A cut-off grade of 1.92 g/t Au was used for the economic underground mineralization, based on mining costs of US$78/t, processing costs of US$29.25/t, G&A costs of US$12.60/t, metallurgical recovery of 90%, and a gold price of US$3,000/oz. Mining dilution, mining recovery and geological recovery assumptions were incorporated into the mining studies used to develop and evaluate the MSO shapes and demonstrate RPEEE. The reported Mineral Resource was constrained to the resulting mining limits excluding mining recovery and dilution factors. Underground marginal mineralization: A cut-off grade of 1.43 g/t Au was used for marginal underground mineralization, based on mining costs of US$78/t, processing costs of US$29.25/t, G&A costs of US$12.60/t, metallurgical recovery of 90%, and a gold price of US$3,000/oz. Marginal mineralization comprises material within and adjacent to the economic MSO shapes that may be below the 1.92 g/t Au cut-off grade but has been considered in the assessment of RPEEE. The reported Mineral Resource was constrained to the resulting mining limits excluding mining recovery and dilution factors. Resource reporting basis: The Mineral Resources reported in Table 1 are in-situ Mineral Resources and incorporate a 3% geological loss. The mining dilution, mining recovery and geological recovery assumptions described above were used in the mining studies to establish the physical mining limits, including the ultimate open-pit limits and underground stope shapes, for the purpose of demonstrating RPEEE. These factors were not subsequently applied to the tonnes and grades reported in Table 1. The effective date of the Mineral Resource Estimate is September 10, 2026. The Qualified Persons \("QPs"\) are Nicholas Ross King for the Mineral Resource Estimate and Ettienne Jaques Oosthuizen for the geological model. Numbers may not sum due to rounding. Comparison to 2017 Mineral Resource Estimate The previous NI 43-101 resource estimate for the PL Gold Mine, published in November 2017, is now considered historical and should not be relied upon. A direct, like-for-like comparison between the 2017 MRE and the 2026 MRE is not considered appropriate, primarily due to the lower reporting cut-off grade applied in the 2026 MRE and the updated mining constraints used to establish the open-pit and underground reporting limits. Open-pit optimization and underground MSO shapes were used to support the assessment of RPEEE. The increase in Measured and Indicated Mineral Resources is generally associated with increased drill density and the resulting improvement in geological confidence. The classification strategy applied in the 2026 MRE is broadly consistent with the previous approach and does not represent a significant departure from the historical classification methodology. PL Gold Mine Development Update Minnova proposes to develop the PL Gold Mine as a combined open-pit and underground mining operation, utilizing the existing processing plant with a nominal capacity of 1,000 tpd. Initial production is expected to be sourced from open-pit mining, with a planned transition to underground mining as the project develops. The 2026 MRE will be further updated to incorporate outstanding assay results from the 2025–2026 drilling program and subsequent resampling program as part of the planned Pre-Feasibility Study. The Company is also evaluating process flowsheet optimization opportunities, including ore sorting for lower-grade mineralization and the application of modern gravity recovery technologies, supported by updated metallurgical test work. Aggressive Growth Strategy: Resource Expansion and Hub-and-Spoke Development Our 2025-2026 infill drill program focused on the open pit resource was a great success. Drilling, which targeted multiple high-grade mineralized structures at shallow depths amenable to open-pit mining methods, was intentionally limited to a maximum depth of approximately 200m. This drill program was successful in significantly increasing both measured and indicated gold resources and positions the project as one of Canada's highest grade open pit resources. The next phase of drilling will continue the trend of resource expansion and infill drilling with an emphasis on resource conversion to Measured & Indicated categories of the down dip extension of the mineralized structures below 200m. Future drilling programs will also include the Nokomis satellite deposit, located 7km northeast of PL mine site, to further expand that historical resource. Nokomis hosts an Indicated resource of 41,000 ounces \(371,000 tonnes @3.41 g/t\) and an Inferred resource of 19,000 ounces \(247,000 tonnes @2.41 g/t\) \(see https://minnovacorp.ca/2014-04-17\_NR.pdf \). Nokomis has not been drilled since 2012 as we focused on de-risking the PL Gold deposit. It now represents a future development opportunity as part of a property wide hub and spoke model. The PL Gold Mine property is underexplored. Numerous untested surface showings have been identified along strike from the main PL deposit including shear hosted gold mineralization and iron formation targets. Considering the open pit development plan a number of condemnation holes are planned to confirm that no economically viable mineralization exists beneath the proposed waste pile locations before material is placed there. Qualified Persons - Technical Information Technical information pertaining to the PL Gold Mine resource estimate contained in this news release has been prepared under the supervision of Nicholas Ross King, BSc \(Hons\) Geology, GDE \(Mining Engineering\), Pr.Sci Nat., 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. 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 2017 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. Given the 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 Preliminary Economic Assessment is advancing with a revised and optimized mine development plan leverages the existing 1,000 tpd process plant capacity, envisions an expansion to 2,000 tpd from open pit operations starting in year 2, underground test mining in year 1 and transition from open pit to underground operations in years 3 and 4. The revised development strategy targets reduced operating costs, lower initial capital costs and higher gold production than the previous underground-only model. The current global gold resource remains open to expansion, as does the reserve. The 2017 MRE will be updated in 2026, using current consensus gold price assumption and will incorporate all drilling conducted after the 2017 Feasibility Study, including the 13,500 meter 2025-2026 drill program. For more information please contact: Minnova Corp. Gorden Glenn President & Chief Executive Officer For further information, please contact Investor Relations at: info@minnovacorp.ca 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 future plans and operations, that may involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, uncertainties inherent in Mineral Resource estimates, environmental and permitting risks, access to labour and services, competition 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. A feasibility study has not been completed and there is no certainty the development objectives 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 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. NOT FOR DISSEMINATION INTO THE UNITED STATES To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313908 Source: Minnova Corp. Get News by Email Analyst, journalist, or company stakeholder? Sign up to receive news releases by email for Minnova Corp. or all companies in the Mining and Metals, Precious Metals industry. Sign Up Recent News PL Gold Mine Restart Update 2026-09-10 5:15 PM EDT PL Gold Mine Restart Update High Grade Gold Results, Resource Expansion Potential and Operational Readiness Update 2026-07-29 3:43 PM EDT Minnova Announces Results of Annual and Special Meeting of Shareholders 2026-02-10 7:00 AM EST Company Profile Oct 30, 2025 AI Press Releases: Data Reveals Which AI Platforms Read the Most TMX Newsfile Releases According to TMX Newsfile data, OpenAI and Microsoft now account for more than 50% of all AI activity detected reading TMX Newsfile press releases, showing how deeply these systems engage with corporate news. 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Newsfile is the trademark of Newsfile Corp. and is used under license. #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pl-gold-mine-restart-update--15844a4a-c8b0-4c4b-82f9-85f37ea2a78c#fact-resource-facts-5) PL Gold Mine · measured #### Identity - Project: PL Gold Mine - Commodity: measured - Ticker: MCI #### Resource Data - Category: indicated - Grade: 1.43 - Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-10T00:00:00.000Z Reasoning: The 2026 MRE provides a high-grade gold resource with significant M&I tonnage and grade, supporting a restart plan. - Positive factor: High-grade open pit resource \(5.28 g/t\) - Positive factor: Significant M&I gold ounces \(601,158 oz\) - Positive factor: Resource expansion potential noted - Positive factor: QP sign-off provided - Negative factor: Historical 2017 estimate is considered stale/unreliable Evidence · text > Indicated Resources: 268,091 gold ounces \( 1,578,110 tonnes @ 5.28 g/t\) Inferred Resources: 21,955 gold ounces \( 118,689 tonnes @ 5.75 g/t\) Underground \(UG\) Grade: 4.75 g/t gold Measured & Indicated Resources: 333,066 gold ounces \( 2,178,916 tonnes @ 4.75 g/t\) Inferred Resources: 180,855 gold ounces \( 1,548,443 tonnes @ 3.63 g/t\) Total Resource Measured & Indicated Resources: 601,158 gold ounces \( 3,757,026 tonnes @ 4.98 g/t\) Inferred Resources: 202,810 gold ounces \( 1,667,132 tonnes @ 3.78 g/t\) Table 1. PL Gold Deposit Mineral Resource Estimate as of September 11, 2026 Category Tonnes Au Grade \(g/t\) Contained Au \(oz\) PL Deposit – Open Pit: Cut-Off Grade 0.60 g/t Measured 1,288,360 5.35 221,575 Indicated 289,750 4.99 46,516 Measured & Indicated 1,578,110 5.28 268,091 Inferred 118,689 5.75 21,955 PL Deposit – Underground: Cut-Off Grade 1.92 g/t and 1.43 g/t Measured 1,343,678 5.06 218,603 Indicated 835,239 4.26 114,464 Measured & Indicated 2,178,916 4.75 333,066 Inferred 1,548,443 3.63 180,855 PL Deposit – Open Pit and Underground: Cut-Off Grade 0.06 g/t, 1.92 g/t and 1.43 g/t Measured 2,632,038 5.20 440,178 Indicated 1,124,989 4.45 160,980 Measured & Indicated 3,757,026 4.98 601,158 Inferred 1,667,132 3.78 202,810 Notes: Mineral Resources are reported in accordance with the 2014 CIM Definition Standards . Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Open-pit Mineral Resources: A cut-off grade of 0.60 g/t Au was applied to the Mineral Resource. The cut-off grade was based on mining costs of US$6.70/t for ore and US$5.48/t for waste, processing costs of US$29.25/t, G&A costs of US$12.60/t, metallurgical recovery of 90%, and a gold price of US$3,000/oz. An open-pit optimization study was undertaken to establish the ultimate open-pit limits and demonstrate Reasonable Prospects for Eventual Economic Extraction \(RPEEE\). Mining dilution and mining recovery assumptions were incorporated into the optimization and mine planning studies used to establish these limits. The resulting open-pit limits were then used to constrain the reported Mineral Resource excluding mining recovery and dilution factors. Underground Mineral Resources: Underground MSO shapes were developed to identify potentially economic mining areas and establish the underground mining limits. A cut-off grade of 1.92 g/t Au was used for the economic underground mineralization, based on mining costs of US$78/t, processing costs of US$29.25/t, G&A costs of US$12.60/t, metallurgical recovery of 90%, and a gold price of US$3,000/oz. Mining dilution, mining recovery and geological recovery assumptions were incorporated into the mining studies used to develop and evaluate the MSO shapes and demonstrate RPEEE. The reported Mineral Resource was constrained to the resulting mining limits excluding mining recovery and dilution factors. Underground marginal mineralization: A cut-off grade of 1.43 g/t Au was used for marginal underground mineralization, based on mining costs of US$78/t, processing costs of US$29.25/t, G&A costs of US$12.60/t, metallurgical recovery of 90%, and a gold price of US$3,000/oz. Marginal mineralization comprises material within and adjacent to the economic MSO shapes that may be below the 1.92 g/t Au cut-off grade but has been considered in the assessment of RPEEE. The reported Mineral Resource was constrained to the resulting mining limits excluding mining recovery and dilution factors. Resource reporting basis: The Mineral Resources reported in Table 1 are in-situ Mineral Resources and incorporate a 3% geological loss. The mining dilution, mining recovery and geological recovery assumptions described above were used in the mining studies to establish the physical mining limits, including the ultimate open-pit limits and underground stope shapes, for the purpose of demonstrating RPEEE. These factors were not subsequently applied to the tonnes and grades reported in Table 1. The effective date of the Mineral Resource Estimate is September 10, 2026. The Qualified Persons \("QPs"\) are Nicholas Ross King for the Mineral Resource Estimate and Ettienne Jaques Oosthuizen for the geological model. Numbers may not sum due to rounding. Comparison to 2017 Mineral Resource Estimate The previous NI 43-101 resource estimate for the PL Gold Mine, published in November 2017, is now considered historical and should not be relied upon. A direct, like-for-like comparison between the 2017 MRE and the 2026 MRE is not considered appropriate, primarily due to the lower reporting cut-off grade applied in the 2026 MRE and the updated mining constraints used to establish the open-pit and underground reporting limits. Open-pit optimization and underground MSO shapes were used to support the assessment of RPEEE. The increase in Measured and Indicated Mineral Resources is generally associated with increased drill density and the resulting improvement in geological confidence. The classification strategy applied in the 2026 MRE is broadly consistent with the previous approach and does not represent a significant departure from the historical classification methodology. PL Gold Mine Development Update Minnova proposes to develop the PL Gold Mine as a combined open-pit and underground mining operation, utilizing the existing processing plant with a nominal capacity of 1,000 tpd. Initial production is expected to be sourced from open-pit mining, with a planned transition to underground mining as the project develops. The 2026 MRE will be further updated to incorporate outstanding assay results from the 2025–2026 drilling program and subsequent resampling program as part of the planned Pre-Feasibility Study. The Company is also evaluating process flowsheet optimization opportunities, including ore sorting for lower-grade mineralization and the application of modern gravity recovery technologies, supported by updated metallurgical test work. Aggressive Growth Strategy: Resource Expansion and Hub-and-Spoke Development Our 2025-2026 infill drill program focused on the open pit resource was a great success. Drilling, which targeted multiple high-grade mineralized structures at shallow depths amenable to open-pit mining methods, was intentionally limited to a maximum depth of approximately 200m. This drill program was successful in significantly increasing both measured and indicated gold resources and positions the project as one of Canada's highest grade open pit resources. The next phase of drilling will continue the trend of resource expansion and infill drilling with an emphasis on resource conversion to Measured & Indicated categories of the down dip extension of the mineralized structures below 200m. Future drilling programs will also include the Nokomis satellite deposit, located 7km northeast of PL mine site, to further expand that historical resource. Nokomis hosts an Indicated resource of 41,000 ounces \(371,000 tonnes @3.41 g/t\) and an Inferred resource of 19,000 ounces \(247,000 tonnes @2.41 g/t\) \(see https://minnovacorp.ca/2014-04-17\_NR.pdf \). Nokomis has not been drilled since 2012 as we focused on de-risking the PL Gold deposit. It now represents a future development opportunity as part of a property wide hub and spoke model. The PL Gold Mine property is underexplored. Numerous untested surface showings have been identified along strike from the main PL deposit including shear hosted gold mineralization and iron formation targets. Considering the open pit development plan a number of condemnation holes are planned to confirm that no economically viable mineralization exists beneath the proposed waste pile locations before material is placed there. Qualified Persons - Technical Information Technical information pertaining to the PL Gold Mine resource estimate contained in this news release has been prepared under the supervision of Nicholas Ross King, BSc \(Hons\) Geology, GDE \(Mining Engineering\), Pr.Sci Nat., 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. 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 2017 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. Given the 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 Preliminary Economic Assessment is advancing with a revised and optimized mine development plan leverages the existing 1,000 tpd process plant capacity, envisions an expansion to 2,000 tpd from open pit operations starting in year 2, underground test mining in year 1 and transition from open pit to underground operations in years 3 and 4. The revised development strategy targets reduced operating costs, lower initial capital costs and higher gold production than the previous underground-only model. The current global gold resource remains open to expansion, as does the reserve. The 2017 MRE will be updated in 2026, using current consensus gold price assumption and will incorporate all drilling conducted after the 2017 Feasibility Study, including the 13,500 meter 2025-2026 drill program. For more information please contact: Minnova Corp. Gorden Glenn President & Chief Executive Officer For further information, please contact Investor Relations at: info@minnovacorp.ca 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 future plans and operations, that may involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, uncertainties inherent in Mineral Resource estimates, environmental and permitting risks, access to labour and services, competition 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. A feasibility study has not been completed and there is no certainty the development objectives 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 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. NOT FOR DISSEMINATION INTO THE UNITED STATES To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313908 Source: Minnova Corp. Get News by Email Analyst, journalist, or company stakeholder? Sign up to receive news releases by email for Minnova Corp. or all companies in the Mining and Metals, Precious Metals industry. Sign Up Recent News PL Gold Mine Restart Update 2026-09-10 5:15 PM EDT PL Gold Mine Restart Update High Grade Gold Results, Resource Expansion Potential and Operational Readiness Update 2026-07-29 3:43 PM EDT Minnova Announces Results of Annual and Special Meeting of Shareholders 2026-02-10 7:00 AM EST Company Profile Oct 30, 2025 AI Press Releases: Data Reveals Which AI Platforms Read the Most TMX Newsfile Releases According to TMX Newsfile data, OpenAI and Microsoft now account for more than 50% of all AI activity detected reading TMX Newsfile press releases, showing how deeply these systems engage with corporate news. Hashtags GOLD PLMINE JuniorMining Mining MiningStocks PreciousMetals Metals SmallCaps TSXV Investing Subjects Economy, Business and Finance Gold and Precious Material Metal and Mineral Mining Similar Stories Mining and Metals Precious Metals Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs. Contact Us Top Capital Formation Toronto Stock Exchange TSX Venture Exchange TSX Trust TMX Newsfile Markets Montréal Exchange Toronto Stock Exchange TSX Venture Exchange TSX Alpha Exchange AlphaX US Shorcan Post-Trade CDCC CDS Insights TMX Datalinx TMX Trayport TMX VettaFi TMX Money Contact Us Terms of Use Privacy Policy Anti-Spam Policy TMX Group Limited and its affiliates do not endorse or recommend any companies or businesses \(including but not limited to investment advisors/firms\), or securities issued by any companies identified on, or linked through, this site. Please seek professional advice to evaluate specific securities or other content on this site. All content \(including any links to third party sites\) is provided for informational purposes only \(and not for trading purposes\), and is not intended to provide legal, accounting, tax, investment, financial or other advice and should not be relied upon for such advice. The views, opinions and advice of the individual authors and are not endorsed by TMX Group Limited or its affiliates. TMX Group Limited and its affiliates have not prepared, reviewed or updated the content of third parties on this site or the content of any third party sites, and assume no responsibility for your use of, or reliance on, such information. Copyright © 2026 TSX Inc. TMX, the TMX design, Groupe TMX, TMX Group, Toronto Stock Exchange, TSX, TSX Venture Exchange and TSXV are the trademarks of TSX Inc. Newsfile is the trademark of Newsfile Corp. and is used under license. #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pl-gold-mine-restart-update--15844a4a-c8b0-4c4b-82f9-85f37ea2a78c#fact-resource-facts-6) PL Gold Mine · gold #### Identity - Project: PL Gold Mine - Commodity: gold - Ticker: MCI #### Resource Data - Category: indicated - Grade: 0.6 - Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-10T00:00:00.000Z Reasoning: The 2026 MRE provides a high-grade gold resource with significant M&I tonnage and grade, supporting a restart plan. - Positive factor: High-grade open pit resource \(5.28 g/t\) - Positive factor: Significant M&I gold ounces \(601,158 oz\) - Positive factor: Resource expansion potential noted - Positive factor: QP sign-off provided - Negative factor: Historical 2017 estimate is considered stale/unreliable Evidence · text > Indicated Resources: 268,091 gold ounces \( 1,578,110 tonnes @ 5.28 g/t\) Inferred Resources: 21,955 gold ounces \( 118,689 tonnes @ 5.75 g/t\) Underground \(UG\) Grade: 4.75 g/t gold Measured & Indicated Resources: 333,066 gold ounces \( 2,178,916 tonnes @ 4.75 g/t\) Inferred Resources: 180,855 gold ounces \( 1,548,443 tonnes @ 3.63 g/t\) Total Resource Measured & Indicated Resources: 601,158 gold ounces \( 3,757,026 tonnes @ 4.98 g/t\) Inferred Resources: 202,810 gold ounces \( 1,667,132 tonnes @ 3.78 g/t\) Table 1. PL Gold Deposit Mineral Resource Estimate as of September 11, 2026 Category Tonnes Au Grade \(g/t\) Contained Au \(oz\) PL Deposit – Open Pit: Cut-Off Grade 0.60 g/t Measured 1,288,360 5.35 221,575 Indicated 289,750 4.99 46,516 Measured & Indicated 1,578,110 5.28 268,091 Inferred 118,689 5.75 21,955 PL Deposit – Underground: Cut-Off Grade 1.92 g/t and 1.43 g/t Measured 1,343,678 5.06 218,603 Indicated 835,239 4.26 114,464 Measured & Indicated 2,178,916 4.75 333,066 Inferred 1,548,443 3.63 180,855 PL Deposit – Open Pit and Underground: Cut-Off Grade 0.06 g/t, 1.92 g/t and 1.43 g/t Measured 2,632,038 5.20 440,178 Indicated 1,124,989 4.45 160,980 Measured & Indicated 3,757,026 4.98 601,158 Inferred 1,667,132 3.78 202,810 Notes: Mineral Resources are reported in accordance with the 2014 CIM Definition Standards . Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Open-pit Mineral Resources: A cut-off grade of 0.60 g/t Au was applied to the Mineral Resource. The cut-off grade was based on mining costs of US$6.70/t for ore and US$5.48/t for waste, processing costs of US$29.25/t, G&A costs of US$12.60/t, metallurgical recovery of 90%, and a gold price of US$3,000/oz. An open-pit optimization study was undertaken to establish the ultimate open-pit limits and demonstrate Reasonable Prospects for Eventual Economic Extraction \(RPEEE\). Mining dilution and mining recovery assumptions were incorporated into the optimization and mine planning studies used to establish these limits. The resulting open-pit limits were then used to constrain the reported Mineral Resource excluding mining recovery and dilution factors. Underground Mineral Resources: Underground MSO shapes were developed to identify potentially economic mining areas and establish the underground mining limits. A cut-off grade of 1.92 g/t Au was used for the economic underground mineralization, based on mining costs of US$78/t, processing costs of US$29.25/t, G&A costs of US$12.60/t, metallurgical recovery of 90%, and a gold price of US$3,000/oz. Mining dilution, mining recovery and geological recovery assumptions were incorporated into the mining studies used to develop and evaluate the MSO shapes and demonstrate RPEEE. The reported Mineral Resource was constrained to the resulting mining limits excluding mining recovery and dilution factors. Underground marginal mineralization: A cut-off grade of 1.43 g/t Au was used for marginal underground mineralization, based on mining costs of US$78/t, processing costs of US$29.25/t, G&A costs of US$12.60/t, metallurgical recovery of 90%, and a gold price of US$3,000/oz. Marginal mineralization comprises material within and adjacent to the economic MSO shapes that may be below the 1.92 g/t Au cut-off grade but has been considered in the assessment of RPEEE. The reported Mineral Resource was constrained to the resulting mining limits excluding mining recovery and dilution factors. Resource reporting basis: The Mineral Resources reported in Table 1 are in-situ Mineral Resources and incorporate a 3% geological loss. The mining dilution, mining recovery and geological recovery assumptions described above were used in the mining studies to establish the physical mining limits, including the ultimate open-pit limits and underground stope shapes, for the purpose of demonstrating RPEEE. These factors were not subsequently applied to the tonnes and grades reported in Table 1. The effective date of the Mineral Resource Estimate is September 10, 2026. The Qualified Persons \("QPs"\) are Nicholas Ross King for the Mineral Resource Estimate and Ettienne Jaques Oosthuizen for the geological model. Numbers may not sum due to rounding. Comparison to 2017 Mineral Resource Estimate The previous NI 43-101 resource estimate for the PL Gold Mine, published in November 2017, is now considered historical and should not be relied upon. A direct, like-for-like comparison between the 2017 MRE and the 2026 MRE is not considered appropriate, primarily due to the lower reporting cut-off grade applied in the 2026 MRE and the updated mining constraints used to establish the open-pit and underground reporting limits. Open-pit optimization and underground MSO shapes were used to support the assessment of RPEEE. The increase in Measured and Indicated Mineral Resources is generally associated with increased drill density and the resulting improvement in geological confidence. The classification strategy applied in the 2026 MRE is broadly consistent with the previous approach and does not represent a significant departure from the historical classification methodology. PL Gold Mine Development Update Minnova proposes to develop the PL Gold Mine as a combined open-pit and underground mining operation, utilizing the existing processing plant with a nominal capacity of 1,000 tpd. Initial production is expected to be sourced from open-pit mining, with a planned transition to underground mining as the project develops. The 2026 MRE will be further updated to incorporate outstanding assay results from the 2025–2026 drilling program and subsequent resampling program as part of the planned Pre-Feasibility Study. The Company is also evaluating process flowsheet optimization opportunities, including ore sorting for lower-grade mineralization and the application of modern gravity recovery technologies, supported by updated metallurgical test work. Aggressive Growth Strategy: Resource Expansion and Hub-and-Spoke Development Our 2025-2026 infill drill program focused on the open pit resource was a great success. Drilling, which targeted multiple high-grade mineralized structures at shallow depths amenable to open-pit mining methods, was intentionally limited to a maximum depth of approximately 200m. This drill program was successful in significantly increasing both measured and indicated gold resources and positions the project as one of Canada's highest grade open pit resources. The next phase of drilling will continue the trend of resource expansion and infill drilling with an emphasis on resource conversion to Measured & Indicated categories of the down dip extension of the mineralized structures below 200m. Future drilling programs will also include the Nokomis satellite deposit, located 7km northeast of PL mine site, to further expand that historical resource. Nokomis hosts an Indicated resource of 41,000 ounces \(371,000 tonnes @3.41 g/t\) and an Inferred resource of 19,000 ounces \(247,000 tonnes @2.41 g/t\) \(see https://minnovacorp.ca/2014-04-17\_NR.pdf \). Nokomis has not been drilled since 2012 as we focused on de-risking the PL Gold deposit. It now represents a future development opportunity as part of a property wide hub and spoke model. The PL Gold Mine property is underexplored. Numerous untested surface showings have been identified along strike from the main PL deposit including shear hosted gold mineralization and iron formation targets. Considering the open pit development plan a number of condemnation holes are planned to confirm that no economically viable mineralization exists beneath the proposed waste pile locations before material is placed there. Qualified Persons - Technical Information Technical information pertaining to the PL Gold Mine resource estimate contained in this news release has been prepared under the supervision of Nicholas Ross King, BSc \(Hons\) Geology, GDE \(Mining Engineering\), Pr.Sci Nat., 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. 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 2017 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. Given the 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 Preliminary Economic Assessment is advancing with a revised and optimized mine development plan leverages the existing 1,000 tpd process plant capacity, envisions an expansion to 2,000 tpd from open pit operations starting in year 2, underground test mining in year 1 and transition from open pit to underground operations in years 3 and 4. The revised development strategy targets reduced operating costs, lower initial capital costs and higher gold production than the previous underground-only model. The current global gold resource remains open to expansion, as does the reserve. The 2017 MRE will be updated in 2026, using current consensus gold price assumption and will incorporate all drilling conducted after the 2017 Feasibility Study, including the 13,500 meter 2025-2026 drill program. For more information please contact: Minnova Corp. Gorden Glenn President & Chief Executive Officer For further information, please contact Investor Relations at: info@minnovacorp.ca 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 future plans and operations, that may involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, uncertainties inherent in Mineral Resource estimates, environmental and permitting risks, access to labour and services, competition 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. A feasibility study has not been completed and there is no certainty the development objectives 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 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. NOT FOR DISSEMINATION INTO THE UNITED STATES To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313908 Source: Minnova Corp. Get News by Email Analyst, journalist, or company stakeholder? Sign up to receive news releases by email for Minnova Corp. or all companies in the Mining and Metals, Precious Metals industry. Sign Up Recent News PL Gold Mine Restart Update 2026-09-10 5:15 PM EDT PL Gold Mine Restart Update High Grade Gold Results, Resource Expansion Potential and Operational Readiness Update 2026-07-29 3:43 PM EDT Minnova Announces Results of Annual and Special Meeting of Shareholders 2026-02-10 7:00 AM EST Company Profile Oct 30, 2025 AI Press Releases: Data Reveals Which AI Platforms Read the Most TMX Newsfile Releases According to TMX Newsfile data, OpenAI and Microsoft now account for more than 50% of all AI activity detected reading TMX Newsfile press releases, showing how deeply these systems engage with corporate news. Hashtags GOLD PLMINE JuniorMining Mining MiningStocks PreciousMetals Metals SmallCaps TSXV Investing Subjects Economy, Business and Finance Gold and Precious Material Metal and Mineral Mining Similar Stories Mining and Metals Precious Metals Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs. Contact Us Top Capital Formation Toronto Stock Exchange TSX Venture Exchange TSX Trust TMX Newsfile Markets Montréal Exchange Toronto Stock Exchange TSX Venture Exchange TSX Alpha Exchange AlphaX US Shorcan Post-Trade CDCC CDS Insights TMX Datalinx TMX Trayport TMX VettaFi TMX Money Contact Us Terms of Use Privacy Policy Anti-Spam Policy TMX Group Limited and its affiliates do not endorse or recommend any companies or businesses \(including but not limited to investment advisors/firms\), or securities issued by any companies identified on, or linked through, this site. Please seek professional advice to evaluate specific securities or other content on this site. All content \(including any links to third party sites\) is provided for informational purposes only \(and not for trading purposes\), and is not intended to provide legal, accounting, tax, investment, financial or other advice and should not be relied upon for such advice. The views, opinions and advice of the individual authors and are not endorsed by TMX Group Limited or its affiliates. TMX Group Limited and its affiliates have not prepared, reviewed or updated the content of third parties on this site or the content of any third party sites, and assume no responsibility for your use of, or reliance on, such information. Copyright © 2026 TSX Inc. TMX, the TMX design, Groupe TMX, TMX Group, Toronto Stock Exchange, TSX, TSX Venture Exchange and TSXV are the trademarks of TSX Inc. Newsfile is the trademark of Newsfile Corp. and is used under license. #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pl-gold-mine-restart-update--15844a4a-c8b0-4c4b-82f9-85f37ea2a78c#fact-resource-facts-7) PL Gold Mine · gold #### Identity - Project: PL Gold Mine - Commodity: gold - Ticker: MCI #### Resource Data - Category: indicated - Grade: 1.92 - Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-10T00:00:00.000Z Reasoning: The 2026 MRE provides a high-grade gold resource with significant M&I tonnage and grade, supporting a restart plan. - Positive factor: High-grade open pit resource \(5.28 g/t\) - Positive factor: Significant M&I gold ounces \(601,158 oz\) - Positive factor: Resource expansion potential noted - Positive factor: QP sign-off provided - Negative factor: Historical 2017 estimate is considered stale/unreliable Evidence · text > Indicated Resources: 268,091 gold ounces \( 1,578,110 tonnes @ 5.28 g/t\) Inferred Resources: 21,955 gold ounces \( 118,689 tonnes @ 5.75 g/t\) Underground \(UG\) Grade: 4.75 g/t gold Measured & Indicated Resources: 333,066 gold ounces \( 2,178,916 tonnes @ 4.75 g/t\) Inferred Resources: 180,855 gold ounces \( 1,548,443 tonnes @ 3.63 g/t\) Total Resource Measured & Indicated Resources: 601,158 gold ounces \( 3,757,026 tonnes @ 4.98 g/t\) Inferred Resources: 202,810 gold ounces \( 1,667,132 tonnes @ 3.78 g/t\) Table 1. PL Gold Deposit Mineral Resource Estimate as of September 11, 2026 Category Tonnes Au Grade \(g/t\) Contained Au \(oz\) PL Deposit – Open Pit: Cut-Off Grade 0.60 g/t Measured 1,288,360 5.35 221,575 Indicated 289,750 4.99 46,516 Measured & Indicated 1,578,110 5.28 268,091 Inferred 118,689 5.75 21,955 PL Deposit – Underground: Cut-Off Grade 1.92 g/t and 1.43 g/t Measured 1,343,678 5.06 218,603 Indicated 835,239 4.26 114,464 Measured & Indicated 2,178,916 4.75 333,066 Inferred 1,548,443 3.63 180,855 PL Deposit – Open Pit and Underground: Cut-Off Grade 0.06 g/t, 1.92 g/t and 1.43 g/t Measured 2,632,038 5.20 440,178 Indicated 1,124,989 4.45 160,980 Measured & Indicated 3,757,026 4.98 601,158 Inferred 1,667,132 3.78 202,810 Notes: Mineral Resources are reported in accordance with the 2014 CIM Definition Standards . Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Open-pit Mineral Resources: A cut-off grade of 0.60 g/t Au was applied to the Mineral Resource. The cut-off grade was based on mining costs of US$6.70/t for ore and US$5.48/t for waste, processing costs of US$29.25/t, G&A costs of US$12.60/t, metallurgical recovery of 90%, and a gold price of US$3,000/oz. An open-pit optimization study was undertaken to establish the ultimate open-pit limits and demonstrate Reasonable Prospects for Eventual Economic Extraction \(RPEEE\). Mining dilution and mining recovery assumptions were incorporated into the optimization and mine planning studies used to establish these limits. The resulting open-pit limits were then used to constrain the reported Mineral Resource excluding mining recovery and dilution factors. Underground Mineral Resources: Underground MSO shapes were developed to identify potentially economic mining areas and establish the underground mining limits. A cut-off grade of 1.92 g/t Au was used for the economic underground mineralization, based on mining costs of US$78/t, processing costs of US$29.25/t, G&A costs of US$12.60/t, metallurgical recovery of 90%, and a gold price of US$3,000/oz. Mining dilution, mining recovery and geological recovery assumptions were incorporated into the mining studies used to develop and evaluate the MSO shapes and demonstrate RPEEE. The reported Mineral Resource was constrained to the resulting mining limits excluding mining recovery and dilution factors. Underground marginal mineralization: A cut-off grade of 1.43 g/t Au was used for marginal underground mineralization, based on mining costs of US$78/t, processing costs of US$29.25/t, G&A costs of US$12.60/t, metallurgical recovery of 90%, and a gold price of US$3,000/oz. Marginal mineralization comprises material within and adjacent to the economic MSO shapes that may be below the 1.92 g/t Au cut-off grade but has been considered in the assessment of RPEEE. The reported Mineral Resource was constrained to the resulting mining limits excluding mining recovery and dilution factors. Resource reporting basis: The Mineral Resources reported in Table 1 are in-situ Mineral Resources and incorporate a 3% geological loss. The mining dilution, mining recovery and geological recovery assumptions described above were used in the mining studies to establish the physical mining limits, including the ultimate open-pit limits and underground stope shapes, for the purpose of demonstrating RPEEE. These factors were not subsequently applied to the tonnes and grades reported in Table 1. The effective date of the Mineral Resource Estimate is September 10, 2026. The Qualified Persons \("QPs"\) are Nicholas Ross King for the Mineral Resource Estimate and Ettienne Jaques Oosthuizen for the geological model. Numbers may not sum due to rounding. Comparison to 2017 Mineral Resource Estimate The previous NI 43-101 resource estimate for the PL Gold Mine, published in November 2017, is now considered historical and should not be relied upon. A direct, like-for-like comparison between the 2017 MRE and the 2026 MRE is not considered appropriate, primarily due to the lower reporting cut-off grade applied in the 2026 MRE and the updated mining constraints used to establish the open-pit and underground reporting limits. Open-pit optimization and underground MSO shapes were used to support the assessment of RPEEE. The increase in Measured and Indicated Mineral Resources is generally associated with increased drill density and the resulting improvement in geological confidence. The classification strategy applied in the 2026 MRE is broadly consistent with the previous approach and does not represent a significant departure from the historical classification methodology. PL Gold Mine Development Update Minnova proposes to develop the PL Gold Mine as a combined open-pit and underground mining operation, utilizing the existing processing plant with a nominal capacity of 1,000 tpd. Initial production is expected to be sourced from open-pit mining, with a planned transition to underground mining as the project develops. The 2026 MRE will be further updated to incorporate outstanding assay results from the 2025–2026 drilling program and subsequent resampling program as part of the planned Pre-Feasibility Study. The Company is also evaluating process flowsheet optimization opportunities, including ore sorting for lower-grade mineralization and the application of modern gravity recovery technologies, supported by updated metallurgical test work. Aggressive Growth Strategy: Resource Expansion and Hub-and-Spoke Development Our 2025-2026 infill drill program focused on the open pit resource was a great success. Drilling, which targeted multiple high-grade mineralized structures at shallow depths amenable to open-pit mining methods, was intentionally limited to a maximum depth of approximately 200m. This drill program was successful in significantly increasing both measured and indicated gold resources and positions the project as one of Canada's highest grade open pit resources. The next phase of drilling will continue the trend of resource expansion and infill drilling with an emphasis on resource conversion to Measured & Indicated categories of the down dip extension of the mineralized structures below 200m. Future drilling programs will also include the Nokomis satellite deposit, located 7km northeast of PL mine site, to further expand that historical resource. Nokomis hosts an Indicated resource of 41,000 ounces \(371,000 tonnes @3.41 g/t\) and an Inferred resource of 19,000 ounces \(247,000 tonnes @2.41 g/t\) \(see https://minnovacorp.ca/2014-04-17\_NR.pdf \). Nokomis has not been drilled since 2012 as we focused on de-risking the PL Gold deposit. It now represents a future development opportunity as part of a property wide hub and spoke model. The PL Gold Mine property is underexplored. Numerous untested surface showings have been identified along strike from the main PL deposit including shear hosted gold mineralization and iron formation targets. Considering the open pit development plan a number of condemnation holes are planned to confirm that no economically viable mineralization exists beneath the proposed waste pile locations before material is placed there. Qualified Persons - Technical Information Technical information pertaining to the PL Gold Mine resource estimate contained in this news release has been prepared under the supervision of Nicholas Ross King, BSc \(Hons\) Geology, GDE \(Mining Engineering\), Pr.Sci Nat., 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. 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 2017 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. Given the 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 Preliminary Economic Assessment is advancing with a revised and optimized mine development plan leverages the existing 1,000 tpd process plant capacity, envisions an expansion to 2,000 tpd from open pit operations starting in year 2, underground test mining in year 1 and transition from open pit to underground operations in years 3 and 4. The revised development strategy targets reduced operating costs, lower initial capital costs and higher gold production than the previous underground-only model. The current global gold resource remains open to expansion, as does the reserve. The 2017 MRE will be updated in 2026, using current consensus gold price assumption and will incorporate all drilling conducted after the 2017 Feasibility Study, including the 13,500 meter 2025-2026 drill program. For more information please contact: Minnova Corp. Gorden Glenn President & Chief Executive Officer For further information, please contact Investor Relations at: info@minnovacorp.ca 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 future plans and operations, that may involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, uncertainties inherent in Mineral Resource estimates, environmental and permitting risks, access to labour and services, competition 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. A feasibility study has not been completed and there is no certainty the development objectives 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 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. NOT FOR DISSEMINATION INTO THE UNITED STATES To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313908 Source: Minnova Corp. Get News by Email Analyst, journalist, or company stakeholder? Sign up to receive news releases by email for Minnova Corp. or all companies in the Mining and Metals, Precious Metals industry. Sign Up Recent News PL Gold Mine Restart Update 2026-09-10 5:15 PM EDT PL Gold Mine Restart Update High Grade Gold Results, Resource Expansion Potential and Operational Readiness Update 2026-07-29 3:43 PM EDT Minnova Announces Results of Annual and Special Meeting of Shareholders 2026-02-10 7:00 AM EST Company Profile Oct 30, 2025 AI Press Releases: Data Reveals Which AI Platforms Read the Most TMX Newsfile Releases According to TMX Newsfile data, OpenAI and Microsoft now account for more than 50% of all AI activity detected reading TMX Newsfile press releases, showing how deeply these systems engage with corporate news. 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Please seek professional advice to evaluate specific securities or other content on this site. All content \(including any links to third party sites\) is provided for informational purposes only \(and not for trading purposes\), and is not intended to provide legal, accounting, tax, investment, financial or other advice and should not be relied upon for such advice. The views, opinions and advice of the individual authors and are not endorsed by TMX Group Limited or its affiliates. TMX Group Limited and its affiliates have not prepared, reviewed or updated the content of third parties on this site or the content of any third party sites, and assume no responsibility for your use of, or reliance on, such information. Copyright © 2026 TSX Inc. TMX, the TMX design, Groupe TMX, TMX Group, Toronto Stock Exchange, TSX, TSX Venture Exchange and TSXV are the trademarks of TSX Inc. Newsfile is the trademark of Newsfile Corp. and is used under license. #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/pl-gold-mine-restart-update--15844a4a-c8b0-4c4b-82f9-85f37ea2a78c#fact-resource-facts-8) PL Gold Mine · gold #### Identity - Project: PL Gold Mine - Commodity: gold - Ticker: MCI #### Resource Data - Category: indicated - Grade: 1.43 - Grade Unit: g/t #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-10T00:00:00.000Z Reasoning: The 2026 MRE provides a high-grade gold resource with significant M&I tonnage and grade, supporting a restart plan. - Positive factor: High-grade open pit resource \(5.28 g/t\) - Positive factor: Significant M&I gold ounces \(601,158 oz\) - Positive factor: Resource expansion potential noted - Positive factor: QP sign-off provided - Negative factor: Historical 2017 estimate is considered stale/unreliable Evidence · text > Indicated Resources: 268,091 gold ounces \( 1,578,110 tonnes @ 5.28 g/t\) Inferred Resources: 21,955 gold ounces \( 118,689 tonnes @ 5.75 g/t\) Underground \(UG\) Grade: 4.75 g/t gold Measured & Indicated Resources: 333,066 gold ounces \( 2,178,916 tonnes @ 4.75 g/t\) Inferred Resources: 180,855 gold ounces \( 1,548,443 tonnes @ 3.63 g/t\) Total Resource Measured & Indicated Resources: 601,158 gold ounces \( 3,757,026 tonnes @ 4.98 g/t\) Inferred Resources: 202,810 gold ounces \( 1,667,132 tonnes @ 3.78 g/t\) Table 1. PL Gold Deposit Mineral Resource Estimate as of September 11, 2026 Category Tonnes Au Grade \(g/t\) Contained Au \(oz\) PL Deposit – Open Pit: Cut-Off Grade 0.60 g/t Measured 1,288,360 5.35 221,575 Indicated 289,750 4.99 46,516 Measured & Indicated 1,578,110 5.28 268,091 Inferred 118,689 5.75 21,955 PL Deposit – Underground: Cut-Off Grade 1.92 g/t and 1.43 g/t Measured 1,343,678 5.06 218,603 Indicated 835,239 4.26 114,464 Measured & Indicated 2,178,916 4.75 333,066 Inferred 1,548,443 3.63 180,855 PL Deposit – Open Pit and Underground: Cut-Off Grade 0.06 g/t, 1.92 g/t and 1.43 g/t Measured 2,632,038 5.20 440,178 Indicated 1,124,989 4.45 160,980 Measured & Indicated 3,757,026 4.98 601,158 Inferred 1,667,132 3.78 202,810 Notes: Mineral Resources are reported in accordance with the 2014 CIM Definition Standards . Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Open-pit Mineral Resources: A cut-off grade of 0.60 g/t Au was applied to the Mineral Resource. The cut-off grade was based on mining costs of US$6.70/t for ore and US$5.48/t for waste, processing costs of US$29.25/t, G&A costs of US$12.60/t, metallurgical recovery of 90%, and a gold price of US$3,000/oz. An open-pit optimization study was undertaken to establish the ultimate open-pit limits and demonstrate Reasonable Prospects for Eventual Economic Extraction \(RPEEE\). Mining dilution and mining recovery assumptions were incorporated into the optimization and mine planning studies used to establish these limits. The resulting open-pit limits were then used to constrain the reported Mineral Resource excluding mining recovery and dilution factors. Underground Mineral Resources: Underground MSO shapes were developed to identify potentially economic mining areas and establish the underground mining limits. A cut-off grade of 1.92 g/t Au was used for the economic underground mineralization, based on mining costs of US$78/t, processing costs of US$29.25/t, G&A costs of US$12.60/t, metallurgical recovery of 90%, and a gold price of US$3,000/oz. Mining dilution, mining recovery and geological recovery assumptions were incorporated into the mining studies used to develop and evaluate the MSO shapes and demonstrate RPEEE. The reported Mineral Resource was constrained to the resulting mining limits excluding mining recovery and dilution factors. Underground marginal mineralization: A cut-off grade of 1.43 g/t Au was used for marginal underground mineralization, based on mining costs of US$78/t, processing costs of US$29.25/t, G&A costs of US$12.60/t, metallurgical recovery of 90%, and a gold price of US$3,000/oz. Marginal mineralization comprises material within and adjacent to the economic MSO shapes that may be below the 1.92 g/t Au cut-off grade but has been considered in the assessment of RPEEE. The reported Mineral Resource was constrained to the resulting mining limits excluding mining recovery and dilution factors. Resource reporting basis: The Mineral Resources reported in Table 1 are in-situ Mineral Resources and incorporate a 3% geological loss. The mining dilution, mining recovery and geological recovery assumptions described above were used in the mining studies to establish the physical mining limits, including the ultimate open-pit limits and underground stope shapes, for the purpose of demonstrating RPEEE. These factors were not subsequently applied to the tonnes and grades reported in Table 1. The effective date of the Mineral Resource Estimate is September 10, 2026. The Qualified Persons \("QPs"\) are Nicholas Ross King for the Mineral Resource Estimate and Ettienne Jaques Oosthuizen for the geological model. Numbers may not sum due to rounding. Comparison to 2017 Mineral Resource Estimate The previous NI 43-101 resource estimate for the PL Gold Mine, published in November 2017, is now considered historical and should not be relied upon. A direct, like-for-like comparison between the 2017 MRE and the 2026 MRE is not considered appropriate, primarily due to the lower reporting cut-off grade applied in the 2026 MRE and the updated mining constraints used to establish the open-pit and underground reporting limits. Open-pit optimization and underground MSO shapes were used to support the assessment of RPEEE. The increase in Measured and Indicated Mineral Resources is generally associated with increased drill density and the resulting improvement in geological confidence. The classification strategy applied in the 2026 MRE is broadly consistent with the previous approach and does not represent a significant departure from the historical classification methodology. PL Gold Mine Development Update Minnova proposes to develop the PL Gold Mine as a combined open-pit and underground mining operation, utilizing the existing processing plant with a nominal capacity of 1,000 tpd. Initial production is expected to be sourced from open-pit mining, with a planned transition to underground mining as the project develops. The 2026 MRE will be further updated to incorporate outstanding assay results from the 2025–2026 drilling program and subsequent resampling program as part of the planned Pre-Feasibility Study. The Company is also evaluating process flowsheet optimization opportunities, including ore sorting for lower-grade mineralization and the application of modern gravity recovery technologies, supported by updated metallurgical test work. Aggressive Growth Strategy: Resource Expansion and Hub-and-Spoke Development Our 2025-2026 infill drill program focused on the open pit resource was a great success. Drilling, which targeted multiple high-grade mineralized structures at shallow depths amenable to open-pit mining methods, was intentionally limited to a maximum depth of approximately 200m. This drill program was successful in significantly increasing both measured and indicated gold resources and positions the project as one of Canada's highest grade open pit resources. The next phase of drilling will continue the trend of resource expansion and infill drilling with an emphasis on resource conversion to Measured & Indicated categories of the down dip extension of the mineralized structures below 200m. Future drilling programs will also include the Nokomis satellite deposit, located 7km northeast of PL mine site, to further expand that historical resource. Nokomis hosts an Indicated resource of 41,000 ounces \(371,000 tonnes @3.41 g/t\) and an Inferred resource of 19,000 ounces \(247,000 tonnes @2.41 g/t\) \(see https://minnovacorp.ca/2014-04-17\_NR.pdf \). Nokomis has not been drilled since 2012 as we focused on de-risking the PL Gold deposit. It now represents a future development opportunity as part of a property wide hub and spoke model. The PL Gold Mine property is underexplored. Numerous untested surface showings have been identified along strike from the main PL deposit including shear hosted gold mineralization and iron formation targets. Considering the open pit development plan a number of condemnation holes are planned to confirm that no economically viable mineralization exists beneath the proposed waste pile locations before material is placed there. Qualified Persons - Technical Information Technical information pertaining to the PL Gold Mine resource estimate contained in this news release has been prepared under the supervision of Nicholas Ross King, BSc \(Hons\) Geology, GDE \(Mining Engineering\), Pr.Sci Nat., 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. 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 2017 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. Given the 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 Preliminary Economic Assessment is advancing with a revised and optimized mine development plan leverages the existing 1,000 tpd process plant capacity, envisions an expansion to 2,000 tpd from open pit operations starting in year 2, underground test mining in year 1 and transition from open pit to underground operations in years 3 and 4. The revised development strategy targets reduced operating costs, lower initial capital costs and higher gold production than the previous underground-only model. The current global gold resource remains open to expansion, as does the reserve. The 2017 MRE will be updated in 2026, using current consensus gold price assumption and will incorporate all drilling conducted after the 2017 Feasibility Study, including the 13,500 meter 2025-2026 drill program. For more information please contact: Minnova Corp. Gorden Glenn President & Chief Executive Officer For further information, please contact Investor Relations at: info@minnovacorp.ca 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 future plans and operations, that may involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, uncertainties inherent in Mineral Resource estimates, environmental and permitting risks, access to labour and services, competition 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. A feasibility study has not been completed and there is no certainty the development objectives 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 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. NOT FOR DISSEMINATION INTO THE UNITED STATES To view the source version of this press release, please visit https://www.newsfilecorp.com/release/313908 Source: Minnova Corp. Get News by Email Analyst, journalist, or company stakeholder? Sign up to receive news releases by email for Minnova Corp. or all companies in the Mining and Metals, Precious Metals industry. Sign Up Recent News PL Gold Mine Restart Update 2026-09-10 5:15 PM EDT PL Gold Mine Restart Update High Grade Gold Results, Resource Expansion Potential and Operational Readiness Update 2026-07-29 3:43 PM EDT Minnova Announces Results of Annual and Special Meeting of Shareholders 2026-02-10 7:00 AM EST Company Profile Oct 30, 2025 AI Press Releases: Data Reveals Which AI Platforms Read the Most TMX Newsfile Releases According to TMX Newsfile data, OpenAI and Microsoft now account for more than 50% of all AI activity detected reading TMX Newsfile press releases, showing how deeply these systems engage with corporate news. Hashtags GOLD PLMINE JuniorMining Mining MiningStocks PreciousMetals Metals SmallCaps TSXV Investing Subjects Economy, Business and Finance Gold and Precious Material Metal and Mineral Mining Similar Stories Mining and Metals Precious Metals Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs. Contact Us Top Capital Formation Toronto Stock Exchange TSX Venture Exchange TSX Trust TMX Newsfile Markets Montréal Exchange Toronto Stock Exchange TSX Venture Exchange TSX Alpha Exchange AlphaX US Shorcan Post-Trade CDCC CDS Insights TMX Datalinx TMX Trayport TMX VettaFi TMX Money Contact Us Terms of Use Privacy Policy Anti-Spam Policy TMX Group Limited and its affiliates do not endorse or recommend any companies or businesses \(including but not limited to investment advisors/firms\), or securities issued by any companies identified on, or linked through, this site. Please seek professional advice to evaluate specific securities or other content on this site. All content \(including any links to third party sites\) is provided for informational purposes only \(and not for trading purposes\), and is not intended to provide legal, accounting, tax, investment, financial or other advice and should not be relied upon for such advice. The views, opinions and advice of the individual authors and are not endorsed by TMX Group Limited or its affiliates. TMX Group Limited and its affiliates have not prepared, reviewed or updated the content of third parties on this site or the content of any third party sites, and assume no responsibility for your use of, or reliance on, such information. Copyright © 2026 TSX Inc. TMX, the TMX design, Groupe TMX, TMX Group, Toronto Stock Exchange, TSX, TSX Venture Exchange and TSXV are the trademarks of TSX Inc. Newsfile is the trademark of Newsfile Corp. and is used under license. #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.