Vancouver, BC, May 11, 2022 – Minerva Intelligence Inc. (TSXV:MVAI) (“Minerva” or “the Company”), an artificial intelligence software company focused on building decision support tools for climate risk, mineral exploration and mining, is pleased to announce the first of what will be monthly sales results of its AI software DRIVER.
DRIVER is Minerva’s proprietary AI product developed to service the mineral exploration and mining industry by helping them better evaluate drill data to pinpoint superior drill targets, understand geometallurgical domains, and conduct more thorough, rapid, accurate 3D modeling. DRIVER combines cloud processing capabilities with Minerva’s proprietary machine learning technology to automatically evaluate the spatial continuity present in geological numeric data. DRIVER automatically creates 3D models of all aspects of the dataset within a matter of minutes, and automatically identifies and catalogues the important zones of interest. These insights are incredibly valuable for exploration, metallurgy, environmental protection, and mining.
After years of development, DRIVER has been transformed from an internal tool for geological consulting projects into a first-of-its-kind, highly scalable cloud-based SaaS product. DRIVER software is licensed on an annual recurring basis, allowing Minerva to build and maintain customer relationships as well as a reliable revenue stream. Minerva offers three license levels for end-user clients of varying size, as well as an upgradable limited-term Proof-of-Concept license.
|Purchased Proof-of-Concept (POC)||2||6|
|Straight to License||1||2|
|POC – Converted to License||1||1|
|POC – Not Converted||1||1|
|Total Signed Licenses||3||8|
Reaction to DRIVER within the mining and exploration community has been overwhelmingly positive. One DRIVER client in particular has been effusive in his praise: “We have been very impressed by Minerva’s DRIVER software,” said Jon Hill, Jaguar Mining’s Vice-President of Exploration. “The autonomous geological modelling technologies offered by DRIVER are game-changing for many aspects of the mining value chain. In DRIVER, we can produce 3D model realisations of all aspects of our drilling datasets in virtual real-time, bringing us unheard-of benefits for dynamic drill targeting and comprehensive geological deposit understanding. DRIVER is helping our geologists identify important geochemical zones in 3D, and then interactively test the relationships between those zones to help guide our decisions in the field.”
Mr. Hill continued, “We’ll be using DRIVER for all of our upcoming projects to model everything from multi-element geochemistry, geotechnical information, and material properties. Basically, all our drilling data is going to feed into DRIVER, and we’re excited to see the insights for exploration, geometallurgy and ESG reporting.”
Minerva CEO Scott Tillman is gratified by the widescale embrace of DRIVER in the industry. “The team at Minerva has been working on building the ultimate block modelling software for years, and by listening to the needs of our clients, we have built an incredible piece of technology that truly revolutionizes the mining value chain,” said Mr. Tillman. “I’m grateful to the incredibly talented team who built DRIVER and look forward to much more success in the future.”
More information on DRIVER can be found on Minerva’s DRIVER homepage, www.minervaintelligence.com/DRIVER
About Minerva Intelligence Inc.
Minerva Intelligence Inc. is an artificial intelligence software company based in Vancouver, Canada, with a subsidiary office in Darmstadt, Germany. Their software is helping decision makers better understand the earth. Minerva’s applications focus on the search for critical metals and for climate risk mitigation; however, its proprietary AI software has application in diverse industries and domains. Minerva’s common shares are currently listed on the TSX Venture Exchange (symbol MVAI). For further details, please refer to their website www.minervaintelligence.com or follow Minerva on Twitter or LinkedIn.
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