SOURCE: Nova Mining Corp.

August 30, 2012 08:30 ET

NVMN: Lithium Supply Industry Experiences Large and Highly-Capitalized Acquisition

SAN ANTONIO, TX--(Marketwire - Aug 30, 2012) - Nova Mining Corp. (OTCBB: NVMN) President James Dilger announced that he was pleased to see that publicly-traded Talison Lithium was just snapped up in a deal that values it at more than twice the price at $704 Million. The purchase comes just after Talison doubled production at its main mine in anticipation of a boom in demand of lithium-ion batteries, and secured a 15 per cent increase in prices -- taking its price increases for calendar 2012 to date to 25 per cent. A detailed article covering the development can be seen at http://cleantechnica.com/2012/08/27/1-lithium-ore-company-snapped-up-for-704-million/

Nova Mining Corp. has been making tactical moves ahead of the highly-anticipated Apple iPhone 5 and iPad Mini launch that are expected to both take place soon. Coupled with the recent $1Bil verdict Apple has just won, some expect this will help Apple corner the smartphone market. Since Apple's last iPad release was credited with further tightening the lithium market while also driving up prices, management of Nova Mining Corp strongly believes the upcoming Apple product releases and associated sales will create exponential lithium demand pressures -- which should be very good business for the Company.

Nova Mining Corp. recently learned that it may have up to $12Bil in lithium currently under contract in Mongolia. Since Mongolia is connected by quality rail service to China's manufacturing centers, Company management believes that it is in the best position to take advantage of the current lithium "seller's market." Lithium is the main ingredient for long life batteries used in smartphones and computing tablets. China is a leading manufacturer of components for smartphones and tablets.

Nova Mining Corp. (NVMN) seeks out the most potentially lucrative mining projects, supplies and sales of strategic high-demand minerals, such as lithium, as part of its aggressive economic business model. Lithium is the main ingredient in long life batteries, like those used in Apple's popular iPhones and iPads, Google's new Nexus 7 tablet and Tesla Motor's new performance electric cars.

About Nova Mining Corp. (OTCBB: NVMN)

Nova Mining Corporation is a Nevada corporation listed on the OTCBB under the trading symbol NVMN. The Company is a growth-focused entity that seeks to acquire an international portfolio of strategic high-demand mineral mining assets. Nova Mining competes in an industry sector that includes FMC Corp.

More information on Nova Mining Corp can be seen at: http://www.nova-mining.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.

Contact Information

  • Media Contact:
    James Dilger
    Nova Mining Corp
    (210) 581-7753