TSXV: MCI | AGRDF: OTC Pink

February 2017 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:

Historical resources in this presentation are historical estimates that predate NI 43-101 and are not compliant with current definitions, andhave not been verified by the company; consequently, they should not be relied on by investors.

Qualified Person

Mr. Brian Robertson, B. Sc., P. Eng.., a Director 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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• Low to negative correlation with other asset classes, making it an effective portfolio diversifier

• Generally Positive/Bullish outlook for GOLD and gold linked equities

• Rising global debt – is it a crisis?

• Negative interest rates

• Global political unrest

• Institutions adding GOLD to asset mix

Cases for Gold and Manitoba

GOLD FUNDAMENTALS

• World Class Mining Jurisdiction

• Most Prolific Greenstone Belt in Canada

• Excellent Infrastructure

• Low Cost Electrical Power

• > 100 Years of Mining – 30 Mines

• Historically a High Grade Mining Camp + experienced workforce + Low Cost Suppliers (drillers, road maintenance, etc.)

• No First Nation Issues

MANITOBAFUNDAMENTALS

MINNOVA’SVALUE PROPOSITION

• PL Mine is past-producer & permitted• Attractive Capital Structure (~28 million shares)• Key Mining Infrastructure in place• Targeting ~45,000 oz annual production• Low Capex (est. C$25 million) & High IRR (>40%)• Low Relative Valuation ~US$20 EV/Rsc oz

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CANADIAN GOLD PROJECTS

• 100% owned past producing , permitted PL Gold Mine• 100% owned satellite Nokomis gold deposit

NEAR TERM GOLD PRODUCTION 1

• Forecast 40-50k oz. Au per year for 10 years• Average LOM diluted grade 7.2g/t (underground only)• Low capex – Forecast C$25 million• Low AISC (<US$1000/oz), Low C1 cash costs (<US$800/oz)• High NPV (~C$130 mln) and IRR (>40%)

KEY INFRASTRUCTURE IN PLACE

• 1,000 tpd mill• Access decline and 7,000 m of underground development

RESOURCE EXPANSION / EXPLORATION

POTENTIAL

• Measured & Indicated - 208,600 oz grading 5.93g/t (PL)• Inferred – 412,000 oz grading 6.01g/t (PL)• PL and Nokomis Deposits still open to expansion• Excellent “Discovery Potential” on Mine Property and Regionally

INVESTOR ALIGNMENT• Significant insider ownership - aligned with shareholders• Focused on profit and shareholder returns

1) See July 2014 PEA2) Assumes US$1200 /oz Au and C$:US$ 0.76

Exceptional Relative Value Proposition

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MCI:TSXV

Capital Structure (Share data and cash position as of February 1, 2017)

Symbol TSXV: MCI | AGRDF: OTC Pink

Shares Outstanding 28,181,643

Warrants & Options

Options average price $0.57

Warrants average price $1.18

5,833,209

2,080,0003,753,209

Fully Diluted 34,014,852

Market Capitalization (recent price C$0.75/sh)

~$21.5 million

Cash and EquivalentsITM WarrantsITM Options

~$2,500,000~$150,000~$850,000

Debt ~$1,400,000

Management and Director Ownership

9% basic14% fully diluted

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Well Structured, Significant Insider

Ownership

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PL Mine

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PL Mine Located in Flin Flon – Snow Lake Gold and Base Metal District

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• 7000 m of existing underground development

• In-fill drilling programs in support of new reserve and resource estimates

• Develop new mine plan focused on minimizing dilution

• Planned underground test mining

Significant Underground Development = On Ore Immediately, Reduced Capex

PL Deposit Longitudinal Section Mining Blocks

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

• Measured & Indicated Resource of 327,900 oz Au

• Inferred Resource of 438,600 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 123,000 4.41 17,400

0.6g/t Indicated 445,000 4.40 63,000

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

Total PL and Nokomis In Pit 0.6g/t Measured & Indicated 939,000 4.01 121,100

PL Deposit In Pit 0.6g/t Inferred 45,000 4.87 7,000

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

Total PL and Nokomis In Pit 0.6g/t Inferred 292,000 2.78 26,100

Shallow Underground Mineral Resources

PL Deposit Underground 2.5g/t Measured 27,000 5.12 4,500

2.5g/t Indicated 1,057,000 5.95 202,300

Total PL Underground 2.5g/t Measured & Indicated 1,084,000 5.93 206,800

PL Deposit Underground 2.5g/t Inferred 2,135,000 6.01 412,500

Total In Pit and Shallow Underground Mineral Resources

Total In Pit and Underground 0.6/2.5g/t Measured & Indicated 2,023,000 5.04 327,900

Total In Pit and Underground 0.6/2.5g/t Inferred 2,427,000 5.62 438,600

• By Mr. Eugene Puritch, P.Eng. of P&E Mining Consultants Inc. and Mr. Leon McGarry, B.Sc., P.Geo., of A.C.A. Howe International Limited. of Toronto, Ontario. Mr. Puritch and Mr. McGarry are Independent Qualified Persons as defined under NI 43-101 regulations.

• See April 17, 2014 press release for notes on PL and Nokomis deposits resource estimates

PL and Nokomis Gold DepositsDemonstrated Expansion Potential

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0.0

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100,000

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300,000

400,000

500,000

600,000

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800,000

1981 1985 1986 1987 1988 1993 2011 2014

Measured Ounces

Indicated Ounces

M+I Ounces

Inferred Ounces

M+I Grade

Inferred GradeR

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Gra

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g/t

MCI:TSXV

PL Deposit Global Resource

Steady Resource Expansion8 Positive Resource Calculations over 30+ years

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Year 1981 1985 1986 1987 1988 1993 2011 2014

Resouce EstimateM avrick P ioneer P ioneer

Kilborn

Feasibility S tudyP ioneer

Kilborn Re-S tart

Feasibility S tudy

M innova

(underground

only)

M innova

(underground

only)

Holes 30 59 213 213 473 473 496 563

M+I (oz) 124,839 684,188 330,947 141,980 206,668

Inferred (oz) 105,693 133,009 178,997 57,946 313,078 203,213 548,286 412,584

Total 105,693 133,009 178,997 182,785 997,266 534,160 690,266 619,252

More Drilling leads to Resource Conversion and Expansion

MCI:TSXV

Regional Infrastructure

• All weather access

• Railroad

• Regional airport

• Grid electricity

• Water

• All mining andprocessing support services

Underground Development

• Access portal/decline

• 7000 m underground development

1000 tpd mill

• Crusher

• Fine Ore bin (3 Compartment)

• Ball Mill

• Rod Mill

• Floatation tanks

• Leach Tanks

• CIL

• Gold furnace

• Laboratory

• Office

PL Mine Infrastructure In Place

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The Right Geology, Structure and Geophysics

• Numerous untested, airborne VTEM anomalies on property and regionally

• New interpretation of the Puffy fold has fold strike potential of over 3 km

• Historic drilling only tested targeted structures /stratigraphy at very shallow depths, well up dip from the top of the conductor • PUF 119 intersected 1 m grading 34g/t

at ~115m vertical• First hole of 2017 drill program • Awaiting assay results on this NEW

Discovery• 2011 MCI drill hole tested down dip projection

of BIF intersecting 23.7g/t over 0.5 m at ~250m vertical• Priority target for follow-up drilling in

2017

PL Deposit

Airborne VTEM

Structural Lineament Study

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Significant Property Wide and Regional Exploration Potential

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Shaft

Decline/Ramp

Adit

Six steps : 1) Drill face 2) Load explosives 3) Blast 4) Muck 5) Scale 6) Install support

Sub-level Development

Production Cycle Drill - Blast - Muck Ore

Waste Rock

Underground Access

Underground Backfill

Development Mining

Production Mining

Majority of Development is Conventional and State-of-the-Art Commercial Mining Equipment Has Been Identified

Paste Backfill

Transport ore to crusher

Established, commercial equipment and procedures'

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Mine Cycle Breakdown

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Commercial Equipment Selection CriteriaSmall size (ULP/XLP) equipment to achieve:

• minimal mine openings

• targeted narrow stope heights

• safely and efficiently in moving ore out of the stope

Electric/battery powered to:

• capitalize on Manitoba’s low industrial power costs

Proven operational performance:

• emphasis on equipment used in comparable shallow dipping-narrow vein mine settings

Other considerations:

• maintenance and safety factors

• operate remotely/autonomously

Small, Mechanized Narrow Vein Development - Shallow Dip Mining is Feasible

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Creating a Modern Mine with Equipment Suitable for Narrow-Vein Mining

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Future Exploration and Development Plans

Exploration and Infill Drilling Program Resource Conversion and Expansion

• PL and Nokomis deposits still open down dip/on strike• 10,000 meter program underway January 2017

Test Regional Exploration Potential• Initially target mine area exploration targets• Numerous structural and geophysical targets remain untested• Historic data review /compilation highlights untested potential• Belt has not been extensively explored for gold and exploration focus will expand

DevelopmentPre-Feasibility Study Q2/2017 – Feasibility Study Fall 2017

• Update resource to Measured and indicated 0 to 150m• Target Reduced Mining Widths to Achieve Higher Mill Head Grade• Current mine plan forecasts a mill head of 7.2 g/t based on conservative 2 m minimum

mining width (diluted)• Feasibility Study consisting of underground test mining and bulk sampling program

summer 2017• Targeting use of proven ULP and XLP equipment to potential reduce diluted mining widths

to between 1 and 1.5 m• NEW metallurgy test work to optimize gravity circuit and overall process flow sheet –

targeting increased gold recoveries of over 90%

Any of the Above Initiatives can Support Significant Value Appreciation

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Value Proposition

• Increasing Gold Resource Size and Production Profile leads to High Market Valuation

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Klondex Mines

Metals X

Alacer Gold

Richmont MinesPremier Gold

Roxgold

Teranga Gold

Argonaut Gold

Wesdome

Silver Lake Resources

Ramelius Resources

Primero Mining

Doray Minerals

Jaguar MiningTimmins Gold

Royal Nickel

Anaconda

MetanoreMinnova1

Galane

Integra

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$0 $100 $200 $300 $400 $500 $600 $700 $800

Market Capitalization (C$mm)

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Au

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1) PL Mine production forecast ~45,000 oz per annumSource; company and analyst reports

Investment Highlights

• Permitted to re-start underground mining operations

• Ragged TMF (to be listed on Schedule 2 of MMER)

• Near-term gold production, with excellent exploration upside

• Major infrastructure already in place

• 1,000 tpd mill, ancillary facilities, Access ramp and 7,000 m of underground workings

• All weather road access, grid power, railway

• M+I Rsc 327,900 oz Au and Inf Rsc of 438,600 oz - still open to expansion

• Production rate from underground operation at 600 tpd grading over 7g/t

• Average annual production of over 43,000 ounces of gold

• Mine life 10 years, producing over 400,000 ounces of gold

A lower risk VALUE PROPOSITION with Exceptional Opportunities to Optimize the Development Plan and Expand Gold Resource

Upcoming Milestones and Catalysts

Reduce minimum mining width to <1.5 m

Drill – exploration and expansion targeting >1 m oz

Maximize +70% Gold recovery from gravity

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Gorden GlennChairman, President & CEO Over 25 years industry experience in finance as Investment Banker (TD Securities and Desjardins) and Mining Analyst and including 9 years as a geologist.

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

Brian RobertsonP.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 IrwinLL.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

MCI:TSXV

Management and DirectorsAligned and Focused on Shareholder Returns

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DEVELOPMENT (OWNERS) TEAM - Recruitment in progress

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

MINING ENGINEERING/PROJECT MANAGEMENTComing soon

Gorden Glenn, Chairman, President & CEO

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

365 Bay Street, Suite 400, Toronto, Ontario M5H 2V1

www.minnovacorp.ca

Contact Us

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Appendix

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Check out the following links to see how innovation is changing the way we can mine narrow vein deposits safely and efficiently

Dok-Ing XLP Reef Dozerhttps://www.youtube.com/watch?v=hhmV1c8JSx8

Brokk equipmenthttps://www.youtube.com/watch?v=ALaH4JCyTuc

CMTI mini- robotic dozershttp://www.miningweekly.com/article/sibanye-displays-new-mining-machine-at-joburg-indaba-2015-10-14

http://www.cmti.co.za/MM-MT1000.htm

Herrenknecht – Raise Boring Machineshttps://www.herrenknecht.com/en/media/films-animations.html

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Optimization with Commercial Equipment

• Single jackleg drills

• Slushers

• Labour intensive

• Old LHD and Haul trucks

• Long hole mining method methods inappropriate for narrow vein mining

• Focus on tonnes over grade

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Old Mining Method (Conventional)

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• Ultra and Extra-Low Profile (ULP/XLP) mining equipment toachieve minimal mine development and targeted narrow stope heights

Remote and Autonomouscontrols

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Mining Equipment Fleet Selection ULP Ore Mucking and Handling

Small Size 1.2m w x 1.8m h

• Small scale electric/hydraulic mining/drilling equipment is replacing old single jackleg drills

• Electric/hydraulic equipment can perform drilling and excavation duties

• Greatly improves mine safety

• Remote and autonomous controls

Drift and Stope Drilling and Mucking

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Mining Equipment Fleet SelectionDrilling and Mucking

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• Commercially available equipment

• 1000’s of hours of operations

• Compact and self contained

• +50 years of Pipe jacking technology

• drill a 1.1m diameter hole

• Mine only the ore - minimal dilution

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Reef Boring and Box Hole Boring Technique

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Innovative Thinking to re-start the PL Mine – NOT your average mining company

• Re-starting a past producing, shallow dipping, narrow vein mine requires Innovative Thinking

• Innovative new drilling-blasting-mucking technologies

• Innovative new reef boring, slot/raise boring techniques

• Minnova is committed to employing the state of the art equipment and technology to re-start the PL Mine

• We are working with global leaders in equipment manufacturing and innovation to unlock the value of the PL Mine for our stakeholders

• Attractive capital structure with ~22 million shares outstanding

• Low relative EV/oz of gold at <US$20/resource ounce

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Innovative Thinking