Minnova Corp. Engages A&B Global Mining to Advance PL Gold Mine Restart with Updated Feasibility Study and Project Execution Support

Executive Summary

• Minnova Corp. has engaged A&B Global Mining Pty. Ltd. (ABGM) to provide comprehensive technical and engineering services for the PL Gold Mine, targeting an updated NI 43‑101 Feasibility Study and Mineral Resource Estimate by 2026.
• The engagement is structured in two stages: (1) mining concept development—including audited drilling database, resource model updates, and a NI 43‑101 compliant Mineral Resource Estimate; and (2) a Class 3 Feasibility Study delivering detailed mine design, capital & operating cost estimates, and a NI 43‑101 compliant Mineral Reserves estimate.
• The work aims to de‑risk the PL Gold Mine restart, enhance project value, and support future financing efforts.

Key Details

• Consultant: A&B Global Mining Pty. Ltd., South Africa – leading international mining consulting firm.
• Scope – Stage 1 (Mining Concept Development):
• Audited and signed‑off drilling database.
• Updated geological and resource models.
• NI 43‑101 compliant Mineral Resource Estimate.
• Internal mining concept study report.
• Roadmap for Stage 2.
• Scope – Stage 2 (Class 3 Feasibility Study):
• Detailed open‑pit and underground mine design & layout.
• 3‑D mine plan and schedule.
• Mine engineering and infrastructure layout, basic engineering.
• NI 43‑101 compliant Mineral Reserves Estimate.
• Capital and operating cost estimates plus financial models.
• Final NI 43‑101 Technical Report and Feasibility Study.
• Project Context – PL Gold Mine:
• Advanced‑stage development with existing 1,000 tpd processing plant and >7,000 m of underground ramp development.
• Valid underground mining permit in place.
• Current plan emphasizes lower‑cost open‑pit mining in early years, surface exploration, infill drilling, and updated metallurgical test work (ore sorting, gravity recovery).
• Timeline: Technical programs for 2025–2026; feasibility study completion targeted for 2026.
• Strategic Goal: De‑risk the mine restart, improve valuation, and create a robust foundation for future development financing.
• Leadership Quote: Gorden Glenn, President & CEO – emphasized that the partnership puts the PL Gold Mine on a clear path to development and will help secure funding.

Notable Quotes

“The structured, two‑stage approach being executed by ABGM is precisely what is needed to move the PL Gold Mine forward…to provide a high‑quality, independent technical validation of the PL Gold Mine project required to secure development funding.” – Gorden Glenn, President & CEO, Minnova Corp.