Novus Gold Corp.

Novus Gold Corp.

June 18, 2010 20:46 ET

Novus Gold Corp. Options 60% Interest in the Dorothea Gold Property, Ontario to Terra Ventures Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 18, 2010) - Novus Gold Corp. ("Novus" or the "Company") (TSX VENTURE:NOV)(VGN WKN:A0YC5N) is pleased to announce that it has entered into an option agreement with Terra Ventures Inc. ("Terra") (TSX VENTURE:TAS) pursuant to which Terra has been granted an option to acquire a 60% interest in Novus's recently acquired Dorothea Gold Property in Ontario (the "Property"). To exercise the option, Terra must pay Novus $7,500, make payments to the underlying vendor of $95,000 over a period of four years, and incur $400,000 in expenditures on the Property over a period of four years. The underlying vendor will retain a 2.0% net smelter returns royalty on the Property, 1.5% of which may be purchased for $500,000.

For further information visit the company's website at

On behalf of the board of directors of


Mike Magrum, President & CEO

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.

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