Nova Uranium Corporation
TSX VENTURE : NUC

Nova Uranium Corporation

December 02, 2009 14:27 ET

Nova Uranium Corporation: Gold Coin Arizona Project Exploration Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 2, 2009) - Nova Uranium (TSX VENTURE:NUC) is pleased to provide an update on the ongoing exploration work on its 100% owned Gold Coin Arizona gold project.

Nova's Phase One groundwork, in preparation for drill testing, is near completion. Field crews have subjected the entire property to a ground-based magnetic and VLF-EM geophysical survey totalling about fifty line kilometres and also a detailed soil sampling program; more than 800 samples have been forwarded to the laboratory for analyses. Early review of the soil analytical data indicates the presence of a strong northward trending combined base and precious metal anomaly. Final geophysical results are now being compiled in preparation for technical review. Diamond drilling testing is planned for early 2010.

During the due diligence period leading up to the acquisition of this gold property, Nova personnel collected and assayed continuous rock chip samples from two historical trenches. Gold assay results included 13.7 metres of 3.12 grams per tonne (g/t) gold, including 6.1 metres of 4.65 g/t gold and 18.29 metres of 1.85 g/t gold, including 4.57 metres of 5.61 g/t gold (see Nova news in dated Sept. 22, 2009). Importantly, in the case of trench No. 1, sampling starts and ends in mineralization.

Nova Uranium has no debt and a strong cash position and is therefore well positioned to carry out significant exploration and project evaluations. Nova's new board of directors and management team have a mandate to actively seek out and acquire multiple high-quality mineral properties. The acquisition of the Gold Coin project is indicative of this strategy. Gold Coin is located in the Turquoise mining district, located within a broad north-south mineral trend extending more than 100 kilometres from southeast Arizona, United States, into Sonora, Mexico. The area includes two other well-known historical gold-copper-silver mining districts: Warren (Bisbee) and Tombstone.

Michael Moore, PGeo, is the qualified person who has reviewed the technical information contained in this news release on behalf of the company.

Further information is available on the company's website www.Novauranium.com.

ON BEHALF OF THE BOARD

"Michael Moore"

Michael Moore
President and CEO

Forward-Looking Statements: This Nova Uranium News Release may contain certain "forward-looking" statements and information relating to Nova which are based on the beliefs of Nova management, as well as assumptions made by and information currently available to Nova management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein.

"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 news release."

Contact Information

  • Nova Uranium Corporation
    Michael Moore
    President and CEO
    604 687-7178 or Toll Free: 1-800-398-5645
    www.Novauranium.com