Novus Gold Corp.

Novus Gold Corp.

August 27, 2010 10:09 ET

Novus Gold Corp. Joins OTCQX Platform to Access the US Investor Base

NEW YORK, NEW YORK--(Marketwire - Aug. 27, 2010) - Novus Gold Corp. (TSX VENTURE:NOV)(OTCQX:NVXXF), a Canadian-based gold explorer, is now trading on the OTC market's highest tier, OTCQX®.

Novus Gold began trading today on the OTC market's prestigious tier, OTCQX International. Investors can find current financial disclosure and Real-Time Level 2 quotes for the company on and

"Investor-focused companies use the quality-controlled OTCQX platform to offer their investors transparent trading, superior information and easy access through their regulated U.S. broker-dealers," said R. Cromwell Coulson, President and CEO of Pink OTC Markets. "We are pleased to welcome Novus Gold to OTCQX."

Dorsey & Whitney LLP will serve as Novus Gold's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on OTCQX requirements.

"At Novus Gold we see joining OTCQX as a very cost effective method to facilitate a U.S. presence. As the top tier of the US OTC market, with its transparency, credibility, superior information platform and convenience to US investors, the OTCQX is gaining recognition from micro to large cap company cross listings. In conjunction with the Standard & Poor's Market Access program we are confident this achievement in Novus Gold's business plan will enhance our liquidity and broaden our shareholder base," stated Mike Magrum, Novus Gold's President and CEO.

About Novus Gold Corp.
Novus Gold Corp. is an aggressive Canadian-based gold explorer, with a proven management team, who have the capability to find, finance and develop gold assets which have world class potential. The Canadian Shield in Canada and the Caribbean Platform in the Dominican Republic are two regions that the company has selected to begin acquisitions and work.

REN Gold Property, Northwest Territories

Novus Gold's flag ship project, the REN property in the Northwest Territories, consists of approximately 10,000 hectares located approximately 90 kilometres southwest of the formerly producing Lupin gold mine owned by China Minmetals. The REN property was drilled by Texas Gulf and Cominco/Westview in the 1970's and 1980's, discovering high grade iron hosted gold mineralization similar to the Lupin mine. Reinterpretation of previous work and 2009 surface sampling and drill results outlined a wide zone of lower grade gold mineralisation. In late 2009 Novus completed a nine-hole drill program returning gold assay values ranging between 2 to 3 g/t in intersections ranging from 10.61 to 32.76 metres wide. High-grade gold up to 22.40 g/t was also encountered. A concurrent surface sampling program traced the iron formation and gold mineralization for over 7 kilometres. Gold values up to 205.00 g/t were detected. In March 2010 Novus received two of the first assay results from the REN property historic drilling re-sampling program. Hole COM-89-35 sampled 2.83g/t Au over 49.98 metres including 19.05 metres of 5.07 g/t Au. Assay results of 17.97 metres grading 2.22 g/t gold at the Grizz occurrence suggest that it may be an extension of the Main Zone, located approximately 1.7 kilometres to the south.

A drilling and surface sampling program is in progress.

La Paciencia Property, Dominican Republic

The La Paciencia property (8,600 hectares) is underlain by the same geology as the Pueblo Viejo gold deposit (Barrick/Goldcorp) located 10 kilometres to the east. The only recorded work on the property is minor stream sediment sampling with limited prospecting. There has been no previous prospecting on the hill tops, where silicified mineralization such as at Pueblo Viejo, is expected to be found.

La Yagua Property, Dominican Republic

The La Yagua Property (9,900 hectares) is located 19 kilometres along strike from Globestar's producing Cerro de Maimon mine. A 2009 surface exploration program, on the Novus property, led to the discovery of a 0.6 mile long gold and copper mineralized zone. Grab samples of oxidized material grade up to 13 grams gold per ton, 41 grams silver per ton and 21.33% copper. More than 50% of the samples collected graded over 1% copper.

Mike Magrum, PEng, a qualified person under National Instrument 43-101, has approved the technical content of this news release.

This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

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