VANCOUVER, BC, May 11, 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 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.
DRIVER
Results
|
April
|
YTD
|
Demonstrations
|
18
|
58
|
Declined
|
0
|
5
|
Purchased Proof-of-Concept (POC)
|
2
|
6
|
Straight to License
|
1
|
2
|
In
discussion
|
20
|
29
|
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.
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",
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"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
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SOURCE Minerva Intelligence Inc.