VANCOUVER, BC,
March 1, 2022 /CNW/ -
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 a major
milestone with the signing of its first recurring annual licensed
SaaS customer, Jaguar Mining (TSX: JAG), for its AI software
DRIVER.
DRIVER is Minerva's proprietary AI product developed to service
the mineral exploration and mining industry by helping them better
understand and evaluate drill data to pinpoint superior drill
targets, geometallurgical domains, and more through 3D modeling.
After being successfully used for a number of one-off
consulting jobs, DRIVER is now a highly scalable, cloud-enabled
SaaS product. DRIVER is licensed per seat on an annual
recurring basis, allowing Minerva to build and maintain customer
relationships and a reliable revenue stream. Minerva offers
three license levels for end user clients of varying size as well
as for existing and future partnerships.
DRIVER delivers its insights by combining cloud processing
capabilities with Minerva's proprietary machine learning technology
to automatically evaluate the spatial continuity(ies) present in
geological numeric data. DRIVER automatically creates 3D models of
all aspects of the dataset in 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.
"Jaguar is committed to embracing new technologies to enhance
our workflow, and we have been very impressed by Minerva's DRIVER
software," said Jon Hill, Jaguar'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."
"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 of our
drilling data is going to feed into DRIVER, and we're excited to
see the insights for exploration, geometallurgy and ESG reporting,"
Mr. Hill continued.
"We are excited to be working with Jaguar Mining and would like
to thank the executive team at Jaguar for recognizing the value
that DRIVER will deliver to their exploration projects," said
Scott Tillman, Chief Executive
Officer of Minerva Intelligence. "Jaguar's embrace of our DRIVER
software is a major milestone and testament to the team at Minerva;
all the hard work and dedication over the years is finally
commercially being recognized."
"We are anticipating and seeing strong demand for DRIVER: in
addition to our first annual licensed sale, we have converted two
additional clients to our annual licensed DRIVER and have multiple
proof-of-concept projects in the works that we expect to turn into
licensed sales, and expect record sales for 2022," added Mr.
Tillman.
The Company also corrects the most recent press release dated
February 10th which
should have referred to one co-founder as Dr. Poole, not Mr. Poole, and which should have stated that the
other co-founder, Clinton Smyth, had
decided to step down from the Board to focus on mineral
exploration, opening the seat for Dr. Poole. Mr. Smyth
continues to play a vital role within the company.
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
climate risk mitigation, and the search for critical metals and 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.
About Jaguar Mining Inc.
Jaguar Mining Inc. is a
Canadian-listed junior gold mining, development, and exploration
company operating in Brazil with
three gold mining complexes and a large land package with
significant upside exploration potential from mineral claims. The
Company's principal operating assets are located in the Iron
Quadrangle, a prolific greenstone belt in the state of Minas Gerais
and include the Turmalina Gold Mine Complex and Caeté Mining
Complex (Pilar and Roça Grande
Mines, and Caeté Plant). The Company also owns the Paciência
Gold Mine Complex, which has been on care and maintenance since
2012. The Roça Grande Mine has been on temporary care and
maintenance since April 2019.
Additional information is available on the Company's website
at www.jaguarmining.com.
Cautionary Note Regarding Forward-Looking
Statements
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.
The TSX Venture Exchange has neither
approved nor disapproved of the contents of this press release.
Neither the 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 press release.
SOURCE Minerva Intelligence Inc.