Minnova Corp. Evaluates Small-Scale Open Pit Bulk Sample Program for Toll Milling or Direct Sale of Mineralised Material at PL Gold Mine

(TSXV:MCI) Minnova Corp. announced it is evaluating a small-scale open pit bulk sample program at its 100%-owned PL Gold Mine in central Manitoba to test near-surface mineralisation for potential toll milling or direct sale of mineralised material. This evaluation builds on the October 14, 2026 Preliminary Economic Assessment (PEA), which outlines a phased restart using on-site processing, with initial production from high-grade open pits and underground mining commencing from mid-2028. The PEA reports a plant head grade of 4.9 g/t Au in 2028-2029. The bulk sample program aims to validate geological, mining, and metallurgical parameters, assess third-party processing or sales opportunities, and evaluate the potential for early revenue and project de-risking. The program is not included as a separate economic scenario in the October 2026 PEA, and its technical or economic viability has not yet been established. President and CEO Gorden Glenn stated that the program is intended to advance technical understanding and evaluate early revenue opportunities, but remains subject to technical and economic evaluation, regulatory approvals, and suitable commercial arrangements. The initiative depends on engineering, metallurgical testing, third-party agreements, financing, and provincial permits, as existing Environment Act Licence No. 1207E covers underground work only. The company has applied for casual quarry permits for overburden and rock and is seeking written regulatory clarification from provincial authorities regarding permissible bulk sample quantities, extraction methods, and requirements for environmental management, rehabilitation, financial assurance, and Indigenous consultation. No production decision has been made. The October 14, 2026 PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA will be realized. The project resource base from the September 10, 2026 Mineral Resource Estimate comprises Measured & Indicated: 3,757,026 tonnes grading 4.98 g/t Au for 601,158 ounces (2,632,038 Measured tonnes at 5.20 g/t Au for 440,178 ounces; 1,124,989 Indicated tonnes at 4.45 g/t Au for 160,980 ounces), and Inferred: 1,667,132 tonnes grading 3.78 g/t Au for 202,810 ounces. The October 2026 PEA outlines a phased open-pit and underground development plan over a 10-year mine life (2028-2037), targeting initial high-grade open-pit production and processing expansions to 2,000 tpd by 2029. At a base case of US$3,000/oz gold, the PEA projects an after-tax NPV (5%) of US$180.6 million, an 111% IRR, 0.7-year payback, US$53.4 million pre-production capital, and 621,500 ounces of recovered gold. The PL Gold Mine is anchored by existing infrastructure including a 1,000 tpd processing plant and an underground mining permit (Environment Act Licence 1207E). Qualified Person Nicholas Ross King, BSc (Hons) Geology, GDE Mining Engineering, Pr.Sci Nat., an independent consultant to the Company, has reviewed and approved the scientific and technical information in this news release.

Minnova Announces Positive Preliminary Economic Assessment for the PL Gold Mine Restart: After-Tax NPV5% of US$181 Million and 111% IRR at US$3,000/oz Gold, Rising to US$439 Million at US$4,000/oz

(TSXV:MCI) Minnova Corp. announced the results of the Preliminary Economic Assessment (PEA) for the restart of its 100%-owned PL Gold Mine in central Manitoba. The PEA was prepared by A&B Global Mining (Pty) Ltd. under the supervision of Nicholas Ross King, BSc (Hons) Geology, GDE (Mining Engineering), Pr.Sci Nat., in accordance with National Instrument 43-101 and based on the 2026 Mineral Resource Estimate announced on September 10, 2026. The PEA outlines a combined open-pit and underground operation that will reuse the existing processing plant at the past-producing PL mine site. Initial production will be sourced from high-grade open pits, with processing increasing from 492,000 tonnes in 2028 to 720,000 tonnes per year (approximately 2,000 tonnes per day) from 2029, followed by a transition to underground mining. All results are stated after tax at a 5% real discount rate and in United States dollars unless otherwise noted. The PEA base case uses a gold price of US$3,000 per ounce, resulting in an after-tax NPV of US$181 million, and at US$4,000 per ounce, the after-tax NPV rises to US$439 million. The company has 124.65 million shares outstanding and 163.78 million shares fully diluted. The PEA demonstrates the project's value proposition, with a short payback and strong returns at a conservative gold price. Drilling is ongoing to grow the resource beneath the pits and at the satellite Nokomis deposit. The restart of the PL Gold Mine is aligned with Premiere Wab Kinew's goals to triple mine production in Manitoba. The company believes the planned restart will create significant long-term economic opportunities for local communities, the Northwest Territories, and Canada. No production decision has been made, and any such decision will depend on further work, including the completion of a feasibility study, as well as financing and permitting.

PL Gold Mine Restart Update High Grade Gold Results, Resource Expansion Potential and Operational Readiness Update

(TSXV: MCI) Minnova Corp. announced the completion of its largest-ever infill drill program on the PL Gold Mine property, with more than 13,500 metres completed in 131 holes between September 2025 and April 2026. The program focused on resource expansion and infill drilling to support an update to the current 2017 NI 43-101 Mineral Resource Estimate (2017 MRE), with results demonstrating resource expansion potential, including 18 holes targeting the PL North target area (PLN). High-grade results above 5 g/t Au were highlighted, such as Hole M-25-004 returning 25 g/t over 0.50 m and 10.04 g/t over 1.4 m, and Hole M-26-048 intersecting 55.12 g/t over 1.00 m from 18.30 m. The company plans to update the Mineral Resource Estimate in 2026, incorporating all drilling completed since the 2017 MRE, and is advancing a Preliminary Economic Assessment and Feasibility Study. The process plant expansion from 1,000 tpd to 2,000 tpd Run of Mine (ROM) is supported by technical consultants, with expansion capital spending deferred to year 1 of commercial operations and funded from operating cash flows. The company granted 2,600,000 options to purchase common shares at $0.20 per share for a period of 5 years to certain directors, officers, employees, and consultants. The company projects reduced operating costs, lower initial capital costs, and higher gold production than the previous underground-only model.