Minnova further amends omnibus incentive plan

Executive Summary

• Shareholders approved amendments to Minnova Corp.’s omnibus long‑term incentive plan (LTIP).
• The company outlined a two‑stage technical program for the PL gold mine, targeting expanded resources, an updated NI 43‑101 resource estimate and a Class 3 feasibility study by 2026.
• ABGM will lead the work, delivering detailed mining designs, capital & operating cost models, and a final technical report to support future financing.

Key Details

• LTIP Amendment: Approved at the annual shareholders’ meeting; pending TSX‑V exchange approval before filing on SEDAR+.
• PL Gold Mine Overview: Advanced‑stage project with 1,000 t/d processing plant, >7,000 m of underground ramp development and a valid underground mining permit.
• 2025–2026 Work Program:
• Diamond drilling to expand resources and upgrade reserves.
• Updated NI 43‑101 mineral resource estimate.
• Revised mine development plan prioritizing lower‑cost open‑pit mining.
• New metallurgical testwork (ore sorting, gravity recovery).
• Comprehensive feasibility study slated for completion in 2026.
• ABGM Scope – Stage 1 (Mining Concept Development):
• Audited drilling database and updated geological/resource models.
• NI 43‑101‑compliant resource estimate.
• Internal mining concept study report and roadmap to Stage 2.
• ABGM Scope – Stage 2 (Class 3 Feasibility Study):
• Detailed open‑pit and underground mine designs, 3‑D mine plan & schedule.
• Mine engineering, infrastructure layout, basic engineering.
• NI 43‑101‑compliant mineral reserves estimate.
• Capital and operating cost estimates, financial models.
• Final NI 43‑101 technical report and feasibility study.
• Management Quote: CEO Gorden Glenn emphasized the two‑stage approach as essential for securing development funding and restarting the mine.

Notable Quotes

“The structured, two-stage approach being executed by ABGM is precisely what is needed to move the PL gold mine forward…to secure development funding and execute on our vision of restarting the mine.” – Gorden Glenn, President & CEO

Materiality Assessment: Non‑Material – Positive (operational roadmap without immediate financial impact).