Terra Nova Minerals Inc.

October 14, 2009 09:55 ET

Terra Nova Minerals Announces 80% of AEC Shares Tendered, 98% Shareholder Vote in Favour of AEC Transaction and TSX Conditional Listing Approval Received

TORONTO, ONTARIO--(Marketwire - Oct. 14, 2009) - Terra Nova Minerals Inc. ("Terra Nova" or the "Company") (TSX VENTURE:TGC). Further to the Company's press releases of July 22, 2009 and September 3, 2009, the Company is pleased to announce that the minimum tender bid condition of 75% of the issued and outstanding ordinary shares of Australian Energy Company Limited ("AECL") has been satisfied. As of today, approximately 80% of AECL ordinary shares have been tendered to the Company's bid. Terra Nova has extended the bid to November 6, 2009 to allow shareholders to deposit over 90% of the AEC shares into the Company's bid.

The Company is also pleased to announce that at a special meeting of its shareholders held today, 98% of the Company's shareholders present at the meeting in person or by proxy voted in favour of the Company's acquisition of AECL and the related transactions, including the approval of a new stock option plan.

The Company has received conditional approval from the Toronto Stock Exchange for the listing of the Company's common shares upon completion of the acquisition of AECL by the Company and the Company completing its previously announced $12 million private placement.

Investors are cautioned that, except as disclosed in the Management Information Circular to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Terra Nova should be considered highly speculative.


William McLucas, Chairman and CEO

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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