Nova Uranium Corporation
TSX VENTURE : NUC

Nova Uranium Corporation

August 02, 2006 13:38 ET

Nova Uranium Announces Financing for Mont Laurier Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 2, 2006) - Nova Uranium Corporation (TSX VENTURE:NUC) is pleased to announce it has arranged a non-brokered flow-through private placement with Mineralfields Group. Nova will issue up to 1,000,000 shares at $1.25 per share for proceeds of up to $1,250,000. Limited Market Dealer Group will receive a cash finders fee of 5% and nonflow-through finders fee warrants equal to 10% of the number of shares subscribed for, at an exercise price of $1.25 per share.

MineralFields Group is a Toronto based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar limited partnerships to investors throughout the world. Information about MineralFields Group is available at www.mineralfields.com.

The proceeds of this financing will be used to explore Nova's Mont Laurier Uranium property in Quebec. Nova is exploring its 228 sq. kilometre Mont Laurier property with 21 known Uranium showings. The current program is focusing on the newly discovered Dyke 18 in conjunction with regional work defining drill targets at prospective locations including the "Number One" and the "Tom Dick" prospects.

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

ON BEHALF OF THE BOARD

Donald G. Moore, CEO, President and Director


The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Nova Uranium Corporation
    Donald G. Moore
    CEO, President and Director
    (604) 687-7178 or Toll Free: 1-800-398-5645
    www.novauranium.com