Director/PDMR Shareholding

Noventa Limited

("Noventa" or the "Company")

Toronto, Ontario, October 17, 2011 - Noventa Limited (AIM:NVTA; TSX:NTA; PLUS:NV) ("Noventa" or the "Company"), a supplier of the strategic metal tantalum, has today approved the issue of 112,779 Ordinary Shares at a price of £0.2334 per share to certain directors of Noventa ("Directors") and to Eric Kohn TD (who was a Director during the quarter ending 30 September 2011), each of whom have elected to receive a proportion of their remuneration from Noventa in the form of new Ordinary Shares (the "Remuneration Shares"). These payments are calculated quarterly and the Remuneration Shares are issued at a price equivalent to the average of the closing mid-market price for the 30 days prior to the end of the quarter. The following were issued to the Directors of the Company and to Eric Kohn TD for the quarter ending 30 September 2011:

* These shares are held by Barons Financial Services Limited, a company in which Mr. Kohn has a beneficial interest.

^These shares are held by Richmond Partners Master Limited. Richmond Capital LLP, of which Luca Bechis is the founding partner, is the investment adviser to Richmond Partners Master Fund (Cayman Islands).

In addition the Company has also today approved the issue of 903 Ordinary Shares to Dr Joachim Martin and 2,294 Ordinary Shares to Dr Goran Berglund at a price of £0.5187 per share in respect of remuneration elected by them to be received as Ordinary Shares in respect of the quarter ending 30 June 2011 ("Past Remuneration Shares").

The following table sets out details of Director's Shareholdings (as defined in the AIM Rules) of the Company following the issue of the Remuneration Shares and the Past Remuneration Shares.

^These shares are held by Richmond Partners Master Limited. Richmond Capital LLP, of which Luca Bechis is the founding partner, is the investment adviser to Richmond Partners Master Fund (Cayman Islands).

An application has been made to admit the Remuneration Shares and the Past Remuneration Shares to trading on AIM, with trading expected to commence on 20 October 2011. The Remuneration Shares and the Past Remuneration Shares will also commence trading on the PLUS Quoted Market on 20 October 2011. The Remuneration Shares and the Past Remuneration Shares have also been approved for listing on the Toronto Stock Exchange.

Following admission to trading of the Remuneration Shares and the Past Remuneration Shares, the Company will have 119,658,819 Ordinary Shares in issue. The Company also has 1,028,075 convertible redeemable £1 preference shares ("CPS") in issue. The Company does not hold any Ordinary Shares or CPS in treasury.

About Noventa

Noventa's strategy is to be the world's largest, low cost industrial scale supplier of tantalum concentrate, a rare specialty metal widely used in the consumer electronics industry. There is currently a shortage of tantalum supply and stock levels in the industry are being run down. With operating mines in Mozambique, Noventa is in a unique position to expand production to meet the industries needs. More information can be found at www.noventa.net 

For further information please contact:

Emily Staples/Phil Davies

Religare Capital Markets (Nomad and PLUS Corporate Adviser)

+44 20 7444 0800

Daniel BriggsReligare Capital Markets (Broker)+44 20 7444 0500

Joe Racanelli

TMX Equicom

416 815 0700 ext. 243 or jracanelli@equicomgroup.com 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain information contained or incorporated by reference in this release, including any information as to the Noventa's strategy, projects, plans, prospects, future outlook, anticipated events or results or future financial or operating performance, constitutes "forward-looking statements" within the meaning of Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements can often, but not always, be identified by the use of words such as "plans", "expects", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "predicts", "potential", "continue" or "believes", or variations (including negative variations) of such words; or statements that certain actions, events or results "may", "could", "would", "should", "might", "potential to", or "will" be taken, occur or be achieved or other similar expressions concerning matters that are not historical facts. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made or incorporated in this press release are qualified by these cautionary statements.

Forward-looking statements are necessarily based on a number of factors, estimates and assumptions that, while considered reasonable by Noventa as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Readers are also cautioned that forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Noventa to differ materially from those expressed or implied in the forward-looking statements. Certain of these risks and uncertainties are described in more detail in Noventa's Annual Information Form dated July 19, 2011, which is available on SEDAR at www.sedar.com.

Although Noventa has attempted to identify statements containing important factors that could cause actual actions, event or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein are made as of the date of this document based on the opinions and estimates of management on the date statements containing such forward looking information are made, and Noventa disclaims any obligation to update any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward looking information.