Minnova Corp. Provides Corporate Update on Core Re-Logging and Structural Lineament Analysis Targeting Gold Mineralization

TORONTO, ON / ACCESSWIRE / July 26, 2016 / Minnova Corp. MCI (OTC Pink: AGRDF) ("Minnova" or "the Company") is pleased to provide a corporate update on its ongoing 2016 technical programs which include detailed core re-logging at the PL Deposit and regional geologic structural lineament analysis targeting gold mineralization.

A detailed review of drill core from the initial 2011 Minnova drill program has identified that several holes where stopped short of the lower vein structures. Initial drilling in 2011 was focused on development of shallow open pits. Several shallow drill holes targeting near surface vein mineralization on the upper Sherridon Vein were terminated in the immediate footwall to that vein intercept. The Sherridon Vein overlies 3 other mineralized veins, namely; the Upper Vein, Main Vein and Lower Vein, which collectively make up the current PL deposit resource. By extending these drill holes between 50 and 75 meters we can effectively and efficiently in-fill drill a portion of the existing resource base on the lower veins. This work will be incorporated into the stage 2 drill program planned for the fall of 2016 to expand and upgrade the existing PL Deposit resource.

A detailed structural analysis of the PL Property and regional geology using lineament analysis and analogue modeling was initiated in May 2016 to identify high priority structural targets that could host gold mineralization. Maps of all lineaments on the property and regionally (Tertiary (smallest), Secondary (medium), Primary (regional scale) and Circular (most often reflect intrusive bodies underneath)) have been compiled and analysis is ongoing. Initial spatial correlation between the Primary lineaments and existing geophysical (VTEM) survey features is positive with many Primary lineament intersections being coincident with areas of known gold mineralization. This work continues with physical modeling (analogue clay modeling of elastic and plastic/rapture fields) to understand the pattern of dilatational structures on the mine property and regionally. The results of this work will be followed-up later in the summer with a program of detailed structural geology fieldwork, ground-truthing coincident structural and geophysical targets and gold prospecting.

Gorden Glenn, CEO commented "as many of our stakeholders know the Flin Flon-Snow Lake Greenstone Belt has a prolific history of primarily base metal production (Copper and Zinc). Primary gold production and gold exploration has been rather limited due to the dominance of one major, base metal focused, mining company since the camps first major discovery, the Flin Flon deposit in 1914. While there is also significant gold mineralization associated with the many of the base metal deposits in the camp sustained gold focused exploration has been relatively minor compared to other major mining camps in Canada. We hope to capitalize on this by taking a first principles approach to property-wide and regional gold exploration. The first step in this process is the detailed structural lineament analysis that we initiated, the first such technical analysis of the minor and major structural features in the Sherridon-Puffy Lake area that we are aware of. Results to date are very encouraging and support our view that the regions gold exploration potential has not been fully tested away from the known PL and Nokomis gold deposits. Detailed structural lineament analysis plus ongoing in-fill drill programs planned for the fall are all aimed at expanding the existing PL deposit and discovery of new deposits that can be rapidly advanced to production utilizing our existing PL Mine infrastructure."

Qualified Person

Mr. Brian Robertson, B. Sc., P. Eng.., a Director of the Company and a "Qualified Person" under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

For more information please contact:

Minnova Corp.

Gorden Glenn

President & Chief Executive Officer

For further information, please contact Investor Relations at 647-985-2785 or info@minnovacorp.ca.

Visit our website at www.minnovacorp.ca.

Forward Looking Statements

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information regarding the Company including management's assessment of future plans and operations, that may involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be achieved nor that the proposed operations will be economically viable. Although Minnova has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Minnova does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Minnova Corp.