Mr. Gorden Glenn reports

MINNOVA CORPORATE UPDATE ON PL GOLD MINE RESTART PROJECT AND YEAR END AUDIT

Minnova Corp. has provided the following corporate update related to the PL gold mine.

It has provided an update on the 100-per-cent-owned PL gold mine. Since completing a positive feasibility study in 2017, the price of gold has increased significantly from the then base-case modelled gold price assumption of $1,250 (U.S.) per ounce to the current gold price of over $2,400 (U.S.) per ounce. As such, it is eager to restart work programs to further derisk the project and advance its restart.

Planned PL gold mine programs include:

• Diamond drilling: infill and expansion drilling with a focus on PL North zone;
• Update mineral resource estimate: current mineral resource estimate only includes drill results to June, 2017;
• Small open pit to extract a bulk sample -- update metallurgy;
• Updated mine plan to include open mining methods from start of mining operations;
• Updated feasibility study: the existing feasibility study was completed in 2017.

Finally, as part of the feasibility study, the company will also evaluate the on-site production of a bullion gold product (99.999 per cent gold) utilizing currently available refining technologies. The initiative to consider development of a refinery and production is driven by growing investor demand for gold-backed investments. Refined gold production coupled with block chain technologies offers investors a physical gold backed digital gold investment option as an alternative to current gold exchange-traded-fund investment options and potentially even to royalty and streaming companies.

The company would also like to confirm that the audit process in continuing, and the company anticipates that it will in a position to prepare and file the annual financial statements and management's discussion and analysis on or prior to Aug. 31, 2024.

About Minnova Corp.

Minnova is an evolving technology, energy and metal company building a worldwide pipeline of green energy projects. Its subsidiary, Minnova Renewable Energy, is focused on innovative carbon use and carbon reduction technologies. Separately, the company is participating in large-scale green hydrogen production through electrolysis at the Flin Flon clean energy hub initiative.

Its mining strategy is focused on the restart of its PL gold mine, which included completion of a positive feasibility study in 2017. The study concluded the restart of the PL mine, at an average annual production rate of 46,493 ounces over a minimum five-year mine life, was economically robust. Importantly, the global resource remains open to expansion, as does the reserve. The PL gold mine benefits from a short preproduction timeline forecast at 15 months, a valid underground mining permit (Environment Act 1207E), an existing 1,000-tonne-per-day processing plant and over 7,000 metres of developed underground ramp to negative-135-metre depth. The project is fully road accessible and close to existing mining infrastructure.

We seek Safe Harbor.