Exploration Update

Noventa Limited

("Noventa" or the "Company")

Exploration Update

17 January 2011

Noventa (AIM:NVTA, TSX: NTA), the Mozambican miner and producer of tantalum concentrate, is pleased to provide an update on key exploration activities at its operational sites in Zambezia Province, Mozambique.

Marropino South

Since its last update on Marropino South on 15 November 2010, Noventa has embarked on a programme of more geographically dense pit sampling to further define the extent and quality of the Marropino South tantalum deposit. In addition to the initial sampling programme, a grid of 56 sampling pits was laid out in an area of 140m x 160m, with a pit spacing of 20m. Bulk samples of about 200 kg are now being extracted from the pit walls and being treated in a new and small (pilot scale) processing plant to produce concentrates for further analysis at an independent laboratory and the complete results of the sampling will be announced in due course.

The Marropino South Pegmatite.

During the pit sampling process being undertaken at Marropino South, it became apparent that the tantalum mineralisation that had been detected previously (which appears to be characterised by localised high grade pockets) is not related to the currently mined main Marropino pegmatite ore body (the "Marropino Ore Body"). By GPS mapping in the vicinity of the mineralized horizon, a 700m long pegmatite outcrop was found (the "Marropino South Pegmatite"), covering an estimated area of about 7.4 hectares. The pegmatite is striking North - South and is in parts up to 100m wide. The width and depth of the pegmatite and the grade of the tantalite mineralisation contained therein and its distribution within the pegmatite has not yet been defined. The existence of this pegmatite was not previously known to current management but following extensive research, it was discovered that it was noted in geological reports produced by East German geologists in 1984; however no work was undertaken at that time. Noventa intends to undertake exploration work on the zone commencing this month consisting of trenching and bulk sampling; and if results are encouraging, a programme of drilling to test the deposit at depth. Results from the exploration programme are anticipated to be available during the second quarter of 2011.

The Marropino Extension

Ongoing geological studies undertaken by the Company have identified that the currently mined Marropino Ore Body extends along strike for an estimated further 550m to the North East with a width of between 60m and 80m (the "Marropino Extension"). This extension of the Marropino Ore body is particularly hard to distinguish; half of the area is covered with tailings dump material from the mine, the rest is covered with bush and deeply weathered material. Despite this, it has been possible to trace this North East extension by outcrops along a 2m - 3 m deep drainage channel on the site and by artisanal mining works on the flanks of the pegmatite. As with the Marropino South Pegmatite, this pegmatite was also noted in geological reports produced by East German geologists in 1984 but was not evaluated at that time. The extent of the tantalite mineralisation and the distribution and grade of tantalite in relation to the known zones of the main pegmatite will be tested by a diamond drilling programme, with results expected in March.

This press release has been prepared under the supervision of Mr. Don Hains (P.Geo.), who is an independent consultant to the Company and a "qualified person" (as such term is defined in National Instrument 43-101). Mr. Hains has verified the technical data disclosed in this press release. A glossary of technical terms is included in the Appendix.

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 (Nomad)

+44 20 7444 0800

Andrew Chubb/Kit Stephenson

Canaccord Genuity Limited (Joint Broker):+44 20 7050 6500

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

Appendix

Glossary

Pegmatite: a light coloured, coarse-grained, intrusive igneous rock, usually granitic, containing large crystals of quartz, feldspar and mica, and sometimes rare elements such as tantalum, niobium, lithium and rare earths

GPS: Global Positioning System