Minnova Announces Strategic Expansion Initiative to Target 2,000 TPD Mine Production at PL Gold Mine and Option Grant

The most recent news release (December 29, 2025) announces that Minnova has directed its lead engineers to evaluate doubling the processing capacity of the PL Gold Mine from the previously planned 1,000 tonnes per day (tpd) to a minimum of 2,000 tpd. This "Strategic Expansion Initiative" follows preliminary assessments suggesting that existing crushing infrastructure can support higher volumes. The company will conduct a Technical Audit & Capacity Analysis (TACA) to confirm feasibility. Additionally, the company granted 2,500,000 stock options to insiders at an exercise price of $0.20.

This news is materially positive because it represents a significant shift in project scale that could fundamentally improve the project's net present value (NPV) and internal rate of return (IRR), provided the resource base and capital costs align. - Scale and Economics: Moving to 2,000 tpd would likely lower per-ounce operating costs through economies of scale. - Follow-through on Funding: This expansion initiative is only possible because of the recently closed C$4.82 million LIFE offering (December 3, 2025). This financing was the "oxygen" the company needed after a year spent battling a massive working capital deficiency and cease-trade orders. - In-line with Strategy: The initiative follows the engagement of AMPS Powerline (December 22) for grid reconnection, indicating a methodical approach to infrastructure readiness. - Risk Offset: While ambitious, the TACA is a preliminary engineering step; until a Feasibility Study (FS) confirms the economics of 2,000 tpd, this remains a conceptual benefit.

Minnova Corp. is focused on restarting the 100%-owned PL Gold Mine in Manitoba, Canada. - Infrastructure: The project is "advanced-stage" with a 1,000 tpd mill already on site, 7,000 meters of underground development, and a valid mining permit. - History: The project was stalled due to a lack of capital and low gold prices in previous years. - 2025 Strategy: The company dissolved its renewable energy subsidiary to focus purely on gold. The new plan prioritizes a low-cost open-pit restart before moving underground.