Mr. Gorden Glenn reports

MINNOVA ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT

Minnova Corp., further to its news releases of May 7, 2025, and June 19, 2025, has completed the first tranche of its non-brokered private placement financing for gross proceeds of $425,500 through the issuance of 8.51 million units at a price of five cents per unit.

Each unit comprised one common share of the company and one-half of one whole common share purchase warrant of the company. Each warrant entitles the holder thereof to purchase one common share at a price of 10 cents per common share for a period of two from the date of issuance, provided, however, that should the closing price at which the common shares trade on the TSX Venture Exchange (or any such other stock exchange in Canada as the common shares may trade at the applicable time) exceed 20 cents for 20 consecutive trading days at any time following the date that is four months and one day after the date of issuance, the company may accelerate the warrant term such that the warrants shall expire on the date that is 30 business days following the date a news release is issued by the company announcing the reduced warrant term.

Gross proceeds raised from the offering will be used for the company's PL mine, including: permitting, resource expansion and exploration drill program planning, as well as for general working capital purposes. All securities issued in connection with the offering are subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

In connection with the offering, the company paid certain eligible persons a cash commission of $2,835 equal to 7 per cent of the gross proceeds of the offering and issued 56,700 broker warrants equal to 7 per cent of the number of units issued pursuant to the offering. Each broker warrant entitles the holder thereof to acquire one common share at a price of five cents per common share for a period of two years from the closing of the offering.

About Minnova Corp.

Minnova is focused on the restart of its PL gold mine, which included completion of a positive feasibility study in 2018 using a long-term gold price of $1,250 (U.S.) per ounce. 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, over 7,000 metres of developed underground ramp to minus 135 metres of depth. The project is fully road accessible and close to existing mining infrastructure in the prolific Flin Flon greenstone belt of central Manitoba.

We seek Safe Harbor.