TSXV: MCI | AGRDF: OTC Pink

January 2020 Presentation

Cautionary Notes

www.minnovacorp.ca

Cautionary Note Regarding Forward-looking Information

This presentation contains certain information that may constitute forward-looking information under applicable Canadian and U.S.securities legislation, including but not limited to information about current expectations on the timing, extent and success of exploration,development and metallurgical sampling activities, the timing and success of mining operations, the optimization of mine plans, millingactivity at the PL Mill, the timing and completion of updated mineral resource and reserve estimates in respect of the PL and Nokomisdeposits, the Company's intention and ability to monetize mineralized material, project development and related permitting, the financialcondition of Minnova and the ability of Minnova to finance exploration and development funding requirements and the ability of Minnovato meet forecast production and cost targets. This forward-looking information entails various risks and uncertainties that are based oncurrent expectations, and actual results may differ materially from those contained in such information. These uncertainties and risksinclude, but are not limited to, the strength of the global economy; the price of gold; operational, funding and liquidity risks; the degree towhich mineral resource estimates are reflective of actual mineral resources; the degree to which factors which would make a mineraldeposit commercially viable are present; the risks and hazards associated with underground operations; and the ability of Minnova to fundits substantial capital requirements and operations. Risks and uncertainties about the Company’s business are more fully discussed in theCompany’s disclosure materials filed with the securities regulatory authorities in Canada which are available at www.sedar.com. Readersare urged to read these materials. Minnova assumes no obligation to update any forward-looking information or to update the reasonswhy actual results could differ from such information unless required by law.

Cautionary Note Concerning Resource Estimate:

Information concerning mineral resource estimates and the interpretation of exploration programs and drill results also may be consideredforward-looking statements, as such information constitutes a prediction of what mineralization might be found to be present andeconomically mineable if and when a project is actually developed.

Qualified Person

Mr. Chris Buchanan, M.Sc., P. Geo., a consultant of the Company and a “Qualified Person” under National Instrument 43-101, has reviewedand approved the scientific and technical information in this presentation.

Unless otherwise noted, all dollars in this presentation are in C$ dollars.

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Minnova Corp. - Our Value Propositions

CanadaPL Gold Mine Re-Start

Near-Term Production

Positive Feasibility Study

Low Capex

Resource Open to Expansion

Leverage to Higher/Rising Gold Price

Significant Free/Coarse Gold

Nokomis Satelite Deposit

Regional Exploration Upside

Minnova Renewable Energy

Creating additional value through existing infrastructure

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PL Gold Mine Re-StartPositive Feasibility Study – November 2017

Positive Feasibility Study Results

Feasibility Study Highlights

PL MINE RE-START VALUE PROPOSITION

• PL Mine is past-producer & permitted for underground mining

• Key mining infrastructure in place = Lower Capex

• High grade LOM average gold grade >6g/t (combined u/g and o/p)

• Potential for Rsv/Rsc Expansion = future increase annual prod’n

• Reserve and Resource gold grade potentially understated

• Nokomis Satelite deposit – future production potential

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Gold Price US$ 1250

After-Tax

NPV0% (C$ M) $46.8

After-Tax

NPV5% (C$ M) $36.7

After-Tax IRR 53%

Payback (yrs) 1.5

• Based on new RSV/RSC’s

• Initial mine life of 5 years

– UG Reserves only - 259,000 oz @7.0g/t

– Avg annual production – 46,500 oz

– Global Resource – 612,426 oz

– Resource and expansion potential

• Average LOM OPEX C$162/tonne

– US$750 /oz

• Total estimated CAPEX of C$35M

• Fast Payback ~1.5 yearsNote: Base case study uses gold price of US$1250/oz and US$:C$ exchange rate 0.77, UG = Underground Reserves

PL Mine Re-StartValue Leverage #1 – Higher Gold Price

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$1,000

$1,100

$1,200

$1,300

$1,400

$1,500

$1,600

$1,700

$1,800

$1,900

$2,000

Daily Gold Price USD

November 2017 FSBase Case Gold Price: US$1,250/oz

After-tax NPV @ 5% = C$36.7MIRR of 53%

October 2019 Gold Price LeverageCurrent Gold Price: ~US$1,500/oz

After-tax NPV @ 5% = ~C$96MIRR of 109%

PL Mine Re-Start Feasibility Study Value Leverage #1 – Higher Gold Price

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Gold Price (USD/oz) $1,200 $1,250 $1,300 $1,400 $1,500 $1,600 $1,700

Pre-Tax NPV 5% (C$M) $43 $56 $65 $94 $119 $144 $169After-Tax NPV 5% (C$M) $25 $37 $46 $72 $96 $120 $144Pre-Tax IRR 53% 65% 73% 97% 117% 137% 157%After-Tax IRR 40% 53% 62% 88% 109% 130% 150%

1) See March 2018 Feasibility Study report for further information. Feasibility Study base case gold price – US$1,250/oz

0%

20%

40%

60%

80%

100%

120%

140%

160%

$0

$20

$40

$60

$80

$100

$120

$140

$160

$1,200 $1,250 $1,300 $1,400 $1,500 $1,600 $1,700

After-Tax NPV 5% (C$M) After-Tax IRR

NP

V 5

% (

C$

M)

IRR

Reserve/Resource Gold Grades Understated? Leverage #2 – Potential Increase in Reserve Grade

• Initiated Metallic Screen Fire Assay (“MSFA”) check assay program following the positive feasibility study to assess thesis that grades are understated due to small assay sample size in traditional Fire Assay (“FA”) possibly resulting in coarse gold not being captured.

• The MSFA check assay program is a high impact study, any increase in gold grade of the mineral reserve and resource can have a positive impact on the economic analysis.

• 10% increase in mineral reserve gold grade could potentially increase the project NPV from the base case NPV of $36.70 million1 to $66.40 million, a potential increase of over 80%.

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Parameter After-Tax NPV5% ($M)

Variation of Parameter Relative to Base Case

-20% -15% -10% -5% 0% 5% 10% 15% 20%

Head Grade -$24.78 -$9.21 $6.30 $21.68 $36.70 $51.56 $66.40 $81.25 $96.09

Gold Price -$24.97 -$9.36 $6.21 $21.63 $36.70 $51.56 $66.49 $81.38 $96.29

Operating Costs $77.25 $67.19 $56.95 $46.80 $36.70 $26.49 $16.24 $5.84 -$4.66

Capital Costs $50.17 $46.79 $43.40 $40.04 $36.70 $33.37 $30.06 $26.76 $23.46

• Results to date are encouraging exhibiting positive reconciliation of +10% increase in MFSA gold grade

versus original FA grade.

High Impact, Low Budget MFSA Program has Potential to Significantly Increase NPV

1) See March 2018 Feasibility Study report for further information. Feasibility Study base case gold price – US$1,250/oz

Significant Course/Free Gold IdentifiedPositive Implications for High Gravity Recovery

• Metallic Screen Fire Assay (“MSFA”) check assay program has highlighted the significant free/coarse gold that occurs in the mineralized veins/shears that make up the PL Gold Deposit.

• Initial results support the thesis that gold grades may be potentially understated by traditional Fire Assay (“FA”) techniques. This is particularly evident when MFSA results are greater than 3g/t.

• Results from 49 MFSA samples indicate significant positive variance above the resource cut off grade of 3g/t. For example, the average positive variance in MSFA vs original FA is +22.5 % for all samples greater than 3g/t.

• The confirmation of significant free/coarse gold has additional positive implications for re-designing the process flow sheet to incorporate the latest in gravity recovery techniques.

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Significant Free/Coarse Gold is Amenable to Low Cost Gravity Recovery Techniques

1) See http://www.minnovacorp.ca/Metallic-Screen-Fire-Assay-Results-as-of-January-2020.pdf for full MSFA data

-0.82%

-27.56%

22.50%

31.69%

23.53%

Average Variance all samples

Average Variance - Plus 3g/t

Average Variance - Plus 5g/t

Average Variance - Plus 10g/t

Average Variance - 0 to 3g/t

Minnova Corp. - Our Green Energy Value Proposition

Minnova Renewable Energy

- Established 2018

Creating additional value through existing infrastructure

- Power line

- Rail

- Local harvestable resources

Sustainable green energy

- A growing trend

Sustainable business model

- Local harvestable resources

- Other biomass sources

Increased local employment opportunities

- Sherridon

- First Nations9

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Biomass CHP Plant

MANAGEMENT AND BOARD EXPLORATION & DEVELOPMENT TEAM

Gorden Glenn - Chairman, President & CEO Over 30 years industry experience in finance as Investment Banking/Mining Analyst and including 9 years as a geologist.

GEOLOGY - Chris Burchanan, MSc., P. GeoSenior structural geologist with 20 years of experience specialized in structural controls and alteration assemblages of gold systems.

James D. A. White - Director Mr. White is the Managing Partner of Baynes & White, a Toronto-based pension and benefits actuarial consulting firm.

MINING & DEVELOPMENT – TBA

MINNOVA RENEWABLE ENERGY - TBA

Brian Robertson - P.Eng., Director Over 30 years experience in corporate management, exploration programs, project management, mine permitting, construction, development and operation as well as the evaluations or corporate acquisitions.

Chris Irwin - LL.M., Interim CFO, Director Mr. Irwin is President of Irwin Professional Corporation, a corporation providing legal services mainly to the natural resource sector.

“WISE MINERS” - A Century of Exploration, Development, Operations, Finance and Investment Experience

Management and DirectorsAligned and Focused on Shareholder Returns

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Capital Structure (Share data and cash position as of Sept 30, 2019)

Symbol TSXV: MCI | AGRDF: OTC Pink

Shares Outstanding 32,271,316

Options average price $0.56

DSU/RSU average price$0.85

1,900,000

975,000

Fully Diluted 35,146,316

Market Capitalization (recent price C$0.05/sh)

~$1.6 million

Cash and Equivalents ~$100,000

Debt ~$1,700,000

Management and Director Ownership

~6% basic~13% fully diluted

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Well Structured, Significant Insider

Ownership

www.minnovacorp.ca

MCI Peers

EV/RSC OZ $5 $40

P/FS NPV@US$1250 Au

P/FS NPV@US$1500 Au

<0.1x

<<0.05x

>0.3x

Current Valuation at Significant Discount to Peers

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PL Mine Proven Flin Flon – Snow Lake Mining Belt

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Regional Infrastructure

• All weather access

• Railroad

• Regional airport

• Grid electricity

• Water

• All mining andprocessing support services

1000 tpd mill

• Crusher

• Fine Ore bin (3 Compartment)

• Rod/Ball Mill

• Floatation tanks

• Leach Tanks - CIL

• Gold furnace

• Laboratory

• Office

Underground Development

• Access portal/decline

• 7000 m underground development

Significant Mine Infrastructure In Place

• 7000 m of existing underground development

• Completed in-fill drilling program to support new 2017 reserve and resource estimates

• Updated mine plan focused on minimizing dilution (from 2m minimum mining width to 1.5m)

• Planned bulk sample and test mining 20191

Significant Underground Development = On Ore Immediately, Reduced Capex

PL Deposit Mine Plan

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1) See November 1 2017 Feasibility Study., subject to timing of arranging financing and other factors

PL and Nokomis Deposits: Independent* NI 43-101 Mineral Resource Estimates

• Proven 105,000 oz Au and Probable 154,000 oz Au

• Measured & Indicated Resource of 293,326 oz Au

• Inferred Resource of 319,100 oz Au

Both PL and Nokomis deposits are open down dip + along strike

Deposit Cut-off Grade (Au g/t) Resource Category Tonnes (t) Au Grade (g/t) Au Ounces

Open Pit Mineral Resources

PL Deposit In Pit 0.6g/t Measured 75,993 4.95 12,124

0.6g/t Indicated 185,433 5.64 33,702

Nokomis Deposit 0.6g/t Indicated 371,000 3.41 40,700

Total PL and Nokomis In Pit 0.6g/t Measured & Indicated 632,426 4.25 86,526

Nokomis Deposit 0.6g/t Inferred 247,000 2.41 19,100

Total PL and Nokomis In Pit 0.6g/t Inferred 247,000 2.41 19,100

Shallow Underground Mineral Resources

PL Deposit Underground 2.5g/t Measured 444,000 6.89 101,000

2.5g/t Indicated 1,119,000 5.24 189,000

Total PL Underground 2.5g/t Measured & Indicated 1,573,000 5.73 206,800

PL Deposit Underground 2.5g/t Inferred 1,920,000 4.91 300,000

Total In Pit and Shallow Underground Mineral Resources

Total In Pit and Underground 0.6/2.5g/t Measured & Indicated 2,205,426 5.30 293,326

Total In Pit and Underground 0.6/2.5g/t Inferred 2,167,000 4.63 319,100

• Mr. Leon McGarry, B.Sc., P.Geo., of CSA Global Limited. of Toronto, Ontario. Mr. McGarry is an Independent Qualified Persons as defined under NI 43-101 regulations.

• See April 17, 2014 press release for notes on the Nokomis Deposit resource estimate • See November 1, 2017 press release for notes on the PL Deposit resource estimate

PL and Nokomis Gold DepositsDemonstrated Expansion Potential

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Future Exploration and Development Plans

CANADA - PL Gold Mine Re-StartResource Conversion and Expansion

• PL and Nokomis deposits still open down dip/on strike

Near-Term Gold Production with Growth• Positive Feasibility Study @US$1,250/oz Au• Low Capex• Initial production of ~46k oz. Au per year for 5 years• Significant leverage to current (@1,500/oz Au) and higher gold prices• Significant leverage to higher gold grades – positive MSFA check assay program

Any of the Above Initiatives can Support Significant Value Appreciation

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www.minnovacorp.ca

Gorden Glenn, Chairman, President & CEO

Tel: +1 647 985 2785gglenn@minnovacorp.ca

217 Queen Street W., Suite 401, Toronto, Ontario M5V 0R2

www.minnovacorp.ca

@minnovaCEO

Contact Us

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