Novus Gold Corp. Exercises REN Property Repurchase Option
7,500,000 shares released to Terra Ventures Inc.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Feb. 4, 2010) – Novus Gold Corp. (TSX VENTURE:NOV) (”Novus” or “the Company”) wishes to make well known which it has exercised the choice to repurchase a 51% seductiveness in the REN bullion skill from Terra Ventures Inc. (”Terra”) by arising 7.5 million shares to Terra (the “Repurchase Option”). Prior to Novus sportive the Repurchase Option, Terra had acquired a 51% seductiveness in the REN skill in the Northwest Territories as a outcome of carrying incurred $1.5-million in expenditures on the REN skill by Dec 31, 2009. Terra right away binds we estimate 18.2% of the Company’s 41,125,000 released shares.
The REN skill hosts glued together iron arrangement bullion showings in the Point Lake area, we estimate 90 kilometres southwest of the before producing Lupin bullion cave owned by Echo Bay Mines. Approximately thirty cavalcade holes were finished on the main bullion display on the REN skill in between 1974 and 1990 by Texasgulf, Cominco and Westview. A serve 9 holes were drilled by Terra in 2009 (results in a press recover antiquated Jan 11, 2010).
On interest of the house of directors of NOVUS GOLD CORP.
Mike Magrum, President
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While these forward-looking statements, and any assumptions on which they have been based, have been done in great conviction and simulate the stream visualisation per the citation of the business, tangible formula will roughly regularly vary, infrequently materially, from any estimates, predictions, projections, assumptions or alternative destiny opening referred to herein. Except as compulsory by germane law, the Company does not intend to refurbish any of the forward-looking statements to heed these statements to tangible results.
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