NEWS PROVIDED BY Minerva Intelligence Inc.
Apr 9, 2020, 07:00 ET
Vancouver, BC – Minerva Intelligence Inc. (TSXV:MVAI) (“Minerva” or the “Company”), an artificial intelligence company focused on knowledge engineering, is pleased to announce signing of a contract for service provision with White Gold Corp. (WGO), implementing Minerva’s AI solutions across their JP Ross, Vertigo, and Titan properties. WGO owns a portfolio of 22,040 quartz claims across 35 properties covering over 439,000 hectares, representing over 40% of the Yukon’s White Gold District.
“We’re excited for the new insights Minerva can show us,” said Shawn Ryan, Chief Technical Advisor of White Gold Corp. “By using Minerva’s cognitive AI to identify the geochemical relationships between various structures, we can essentially get an unbiased second opinion to augment our own exploration effort and at a price that’s about the cost of a single RAB hole.”
Minerva can deliver such insights by using their cognitive AI applications to (a) identify multi-element zones in the WGO data which are too time consuming and complicated to identify by conventional means, (b) associate these zones with relevant lithologies and structures, and (c) express this knowledge of identified exploration vectors extracted from WGO’s exploration data in a form that enables computer reasoning.
Minerva’s cognitive reasoning platform then extends its AI work by comparing the identified vectors to hundreds of past and present mines throughout the world, short-listing those most similar to WGO’s targets, which can then serve as reliable, explainable models upon which WGO geologists can build their drilling strategies.
“We are thrilled to be working with White Gold and Shawn Ryan in the exploration space, furthering our strategy of applying our technology to the mining and geohazard sectors,” said Scott Tillman, Chief Executive Officer of Minerva Intelligence. “While this is the first phase of the contract, we are optimistic that it will showcase the vast scope of what our technology is able to do.”
Mr. Tillman continued, “Mining and geohazards represent a significant opportunity for our technology to help in the exploration process as well as with risk analysis, and this contract further validates our belief that there is a real need and demand for what Minerva’s software is able to offer.”
About Minerva Intelligence, Inc.
Minerva Intelligence Inc. is a knowledge engineering company based in Vancouver, Canada, with a subsidiary office in Darmstadt, Germany. Their proprietary evidence-based decision-making software is bringing the benefits of artificial intelligence technology to industries dependent on reasoning with complex technical and scientific data.
Although Minerva’s applications currently focus on earth science-related domains including natural hazards and mineral exploration, their technology has application in diverse industries and domains.
Minerva’s common shares are currently listed on the TSX Venture (symbol MVAI).
For further details, please refer to their website www.minervaintelligence.com.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, “U.S. persons,” as such term is defined in Regulation S under the U.S. Securities Act, unless an exemption from such registration is available.
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Forward Looking Information: This news release includes certain information that may be deemed “forward-looking information”. Forward-looking information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. All information in this release, other than information of historical facts, including, without limitation, the availability of financing to the Company are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information. Forward-looking information is based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from the forward-looking information include changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, regulatory changes, delays in receiving approvals, and other risks detailed herein and from time to time in the filings made by the Company with securities regulatory authorities in Canada. Mineral exploration and development of mines is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking information. For more information on the Company and the risks and challenges of our business, investors should review our continuous disclosure filings which are available at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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