Offtake Contract, CFO Resignation & Correction

Noventa Limited

("Noventa" or the "Company")

Improved Offtake Contract Terms, Resignation of CFO & Correction to Previous Announcement

18 July 2011

Noventa (AIM:NVTA; TSX:NTA; PLUS:NV) today announces a number of important developments.

Improved Offtake Agreement Terms

The board of directors of Noventa is pleased to announce that it has negotiated improved terms to its offtake agreement (the "Agreement") with H C Starck (the "Customer"). Under the revised Agreement, the Customer has agreed to pay between 27% and 36% higher prices per pound of tantalum contained in concentrate than was previously the case over the period to the end of 2013. The Customer has also agreed to purchase 29% more tantalum contained in concentrate at the increased price which can be delivered by Noventa at any time up to the end of 2014. The Customer retains the option to extend the Agreement for up to the end of either 2014 or 2015, but with the price per pound to be negotiated relative to market prices at that time. The customer also has the first right of refusal on any additional production not covered by Noventa's existing offtake agreements at a price 20% above the increased price under the Agreement.

Resignation of CFO

Daniel Cassiano-Silva, the Company's Chief Financial Officer has tendered his resignation and will leave the Company in November. The Company is in the process of recruiting a replacement and will update the market at the appropriate time.

Correction to Previous Announcement

The announcement of 31 March 2011 should have included that Barons Financial Services (UK) Limited, ("BFSUK") a company authorised and regulated by the Financial Services Authority acted as a placing agent on behalf of Religare Capital Markets in relation to the Additional Subscription Shares (as previously announced and defined in the announcement of 3 September 2010), for which it received a net commission share of £32,780.75. BFSUK, in which Eric Kohn TD has a beneficial interest through the Swiss parent Company, is a Related Party as defined under the AIM Rules for Companies. The independent Directors (all Directors other than Mr Kohn who were in office as at 3 September when the terms were agreed), who consulted with the Company's nominated adviser, believed the terms of the placing commission to BFSUK, to be fair and reasonable in so far as shareholders were concerned.

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.