EGM Statement & Production Update

Noventa Limited

("Noventa" or the "Company")

EGM Statement & Production Update

29 July 2011

Noventa (AIM:NVTA; TSX:NTA; PLUS:NV) will hold its Extraordinary General Meeting ("EGM") of shareholders today at 12.00 midday (BST). At the meeting, Eric Kohn TD, the Company's Chairman will update shareholders as follows.

Further to the Company's previous announcements, Noventa is now well advanced with its proposals to raise further equity capital through a combination of a placing and open offer. The purpose of the EGM is to pass resolutions to facilitate these intentions by increasing the Company's authorised share capital and authorising the Directors to issue new ordinary shares. The Company has commissioned an independent working capital review from one of the "Big Four" firms of accountants, and the Company expects to finalise it refinancing plans on the completion of this review, at which point an update will be provided to shareholders.

The fund raising, if successful, should provide the funding to bring the new plant at the Marropino mine, with a planned capacity of 600,000 lbs per annum, into full operation, which remains on schedule for the end of 2011. This will further Noventa's objective to become a profitable low cost industrial scale producer of tantalum bearing concentrate.

Production at the Company's Marropino mine for July (up to 27 July) has averaged 177,000lbs per annum of tantalum contained in concentrate, and is expected to reach 200,000lbs per annum in August once all modifications are completed.

For further information please contact:

Eric F. Kohn TD

Chairman

Noventa Limited

+41 22 8500560

+41 79 5030150

www.noventa.net

Nick Harriss/Emily Staples

Religare Capital Markets (UK) Limited (Nominated Adviser)

+44 20 7444 0800

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

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 March 15, 2010, 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.