Issue of Equity

8 October 2013

NOVA RESOURCES LIMITED

("Nova" or the "Company")

Issue of Equity

Further to the announcement dated 28 August 2013, the Company has received notice from Pearce Global Ltd ("Peace") converting £230,000 of convertible unsecured loan notes 2017 ("Notes") into 23,000,000 ordinary shares of par value £0.01 each (the "Shares") at an exercise price of £0.01, which represents 17.8% of the newly enlarged share capital. Peace now hold a remaining £170,000 of Notes and 200 million warrants to subscribe to Ordinary Shares (the "Warrants").

Conversion of the Notes in full would result in the issue of 40,000,000 Ordinary Shares and exercise of the Warrants in full would result in the issue of 200,000,000 Ordinary Shares which, in aggregate, would represent approximately 69.4 per cent. of the enlarged issued Ordinary Share capital of the Company (assuming that no other Ordinary Shares are issued and none of the other warrants already issued by the Company are converted). The Company is not subject to the UK City Code on Takeovers and Mergers. However, Peace has undertaken not to: i) convert the Notes or exercise the Warrants (together, "Conversion") if such would result in Peace owning more than 30 per cent. of the enlarged issued share capital of the Company; and ii) use the rights attached to Ordinary Shares acquired as a result of Conversion to appoint a director of the Company or otherwise seek to gain control of the board of directors of the Company or to exercise undue influence on or otherwise interfere with the management of the Company (the "Restriction").

Application will be made to the London Stock Exchange for the Shares to be admitted to trading on AIM and it is expected that admission will be effective and trading will commence at 8:00 am on 15 October 2013 ("Admission").

Total Voting Rights

Following Admission, the Company will have 129,115,287 Ordinary Shares in issue. Since the Company holds no shares in Treasury, the total number of voting rights in the Company is therefore 129,115,287 and this figure may therefore be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

Enquiries: