Interim results for the period ended 30 June 2013

Nova Resources Limited

Interim results for the period ended 30 June 2013

The Board of Nova Resources Limited (AIM : NOVA.L) is pleased to announce its interim results for the six months to 30 June 2013.

Company

Nova Resources Limited +65 6236 2985

Chan Fook Meng - Chairman/CEO

Nominated Adviser

Daniel Stewart & Company Plc +44 (0) 20 7 776 6550

David Hart/James Felix

Chairman's Statement

I have pleasure in presenting our interim report for the period to 30 June 2013.

We have, as expected, incurred a loss for the period of £623,000, which relates largely to ongoing developments at our investments.

As previously announced, the management of Nova Trans LLC has reported that the coal transportation contract entered into by it with Transgobi LLC expired on 15 April 2013. Whilst discussions between Nova Trans LLC and Transgobi LLC took place regarding the renewal of this contract, this has not yet occurred. The management of Nova Trans LLC are looking for other transportation opportunities in Mongolia as well as continuing a dialogue with Transgobi LLC regarding a potential renewal of the contract. They are also in discussions with potential investors for additional funding.

In August 2013, the Group secured new investment of £400,000, which will provide the Group with adequate funding to continue to seek opportunities in line with its investing policy.

Chan Fook Meng

Chairman

Nova Resources Limited

Consolidated Comprehensive Income Statement

For the period to 30 June 2013

Nova Resources Limited

Consolidated Statement of Financial Position

As at 30 June 2013

Nova Resources Limited

Consolidated Statement of Cash Flows

For the period to 30 June 2013

Reconciliation of operating loss to net cash outflow from operating activities

Nova Resources Limited

Consolidated statement of changes in equity

For period to 30 June 2013

Nova Resources Limited

Notes to the Interim Financial Information

1. General Information

Nova Resources Limited is a public limited company incorporated in Bermuda with a company number 39768 and quoted on the AIM market of the London Stock Exchange Plc.

2. Basis of Preparation

This interim report, which incorporates the financial information of the company, has been prepared using the historical cost convention, on a going concern basis and in accordance with International Financial Reporting Standards ("IFRS") as adopted by the European Union, using accounting policies which are consistent with those set out in the financial statement for the year ended 31 December 2012. This interim financial information for the six months ended 30 June 2013 was approved by the Board on 27 September 2013.

3. Segmental Analysis

The group's primary reporting format is business segments and its secondary format is geographical segments. The group currently only operates in a single business and geographical segment. Accordingly no segmental information for business segment or geographical segment is required.

4. Operating loss for the period is stated after charging / (crediting)

5. Remuneration of key management personnel

Nova Resources Limited

Notes to the Interim Financial Information

6. Loss per share

The loss per ordinary share is based on the company's loss for the period of £623,000 (31 December 2012 - £3,168,000; 30 June 2012 - £870,000) and a basic and diluted weighted average number of shares in issue of 106,115,287 (31 December 2012 - 101,795,589; 30 June 2012 - 97,428,422).

7. Trade and other receivables

Included in trade and other receivables was £84,286 in respect of deposits paid to suppliers for development of transportation centre.

8. Called up Share Capital

The issued share capital as at 30 June 2013, 31 December 2012 and 30 June 2012 was 106,115,287 ordinary shares of £0.01 each.

On 20 June 2013, the company granted 5,500,000 warrants to subscribe for ordinary shares in the company, at the rate of £0.015 per new ordinary shares.

9. Convertible Loans

On 10 February 2012, £60,000 convertible loan notes were issued with a final repayment date of 31 March 2015 (the "2015 Loan Notes"). The notes are interest free and unsecured. The note holders have the right to convert any amount of the principal amount of the 2015 Loan Notes into New Ordinary Shares at the exercise price of 7.5p per share. The ordinary shares to be issued on conversion (assuming full conversion) would amount to 800 000 ordinary shares. On 15 March 2012, £10,000 of the 2015 Loan Notes were converted into 133,333 ordinary shares.

Nova Resources Limited

Notes to the Interim Financial Information

10. Related-party transactions

Transactions between the group and its subsidiaries, which are related parties, have been eliminated on consolidation and are not disclosed in this note.

During the period, the group recognised £30,000 (31 December 2012: £55,107, 30 June 2012: £30,247) to Menora Trading Ltd, a company owned and controlled by Chan Fook Meng, for consultancy fees.

11. Events subsequent to 30 June 2013

On 28 August 2013, the Company secured new investment of £400,000 by way of the issue of 0% unsecured convertible loan notes. The loan notes are repayable by 31 December 2017. The noteholder was also issued with 200,000,000 warrants, which are exercisable into shares in the Company at 1p per new ordinary share, at any time up to 31 December 2018.

On 17 September 2013, the Company sold its entire holding of shares in European Islamic Investment Bank Plc ("EIIB") at a price of 3.1p per share, for a total consideration of £663,892. The consideration was satisfied by the transfer of 9,000,000 warrants over shares in Tricor Plc, an investment company listed on AIM. The warrants are exercisable at 0.5p per new ordinary share at any time up to 31 December 2017.

12. The unaudited results for the period ended 30 June 2013 do not constitute statutory accounts. The comparative figures for the period ended 31 December 2012 are extracted from the audited financial statements which contained an unqualified audit report.

13. This interim financial statement will be, in accordance with Rule 26 of the AIM Rules for Companies, available shortly on the company's website at www.novaresourceslimited.com.