Research Findings on Tantalum Recovery Levels

Noventa Limited

("Noventa" or the "Company")

Improving Tantalum Recovery in Mozambique

23 June 2010

Noventa have been working with a team from the University of Glasgow to independently examine the mined ore to identify opportunities to improve the recovery level of tantalum from the Company's mine at Marropino, Mozambique. This is in addition to the standard mineralogical investigative and test work commissioned by the Company in South Africa and independently reviewed in Canada. These independent investigations have reached similar conclusions increasing confidence in the improvements and upgrades planned by Noventa at Marropino.

Historically, recovery of tantalum from this mine under the previous management was relatively poor; typically less than half of the tantalum contained within ore being recovered, whilst the remaining half has been left in waste dumps, or lost during processing.

The reasons for this low recovery were not entirely clear and merited detailed investigation and verification before moving forward. One hypothesis was that much of the tantalum bearing ores was locked within grains of other minerals, and thus could not be separated or extracted. Flakes of mica were suspected of retaining tantalum mineral grains and preventing recovery. Micas are problematic to process. Another suspicion was that there might be significant ultrafine-grained tantalum minerals which would be difficult, or impossible to process, despite the apparent richness of the ore.

The recent Glasgow University project investigated the distribution and textural relationships of tantalum-rich mineral grains in the Marropino ores, and examined ways in which processing efficiency might be improved.

Following extensive mineralogical, textural, and chemical work, the project shows that some simple and low-cost measures have a significant impact on improving tantalum recovery levels which have already seen improvements over historic levels since production was recommenced under the current management. Simply reducing ore to a slightly finer fraction size (< 1mm) demonstrated the liberation of significantly higher levels of the tantalum-bearing grains for processing. Critically for this process, mica crystals do not seem to include many tantalum-rich grains, and thus removing mica early in process also improves efficiency with only marginal loss of tantalum. It has also been shown that very little of the tantalum within the ores appears to occur as ultrafine grains. This implies that simple adjustments to existing technologies may provide big improvements in recovery. These processes should also be applicable to the extensive tailings dumps at Marropino, discarded as waste from earlier mining, but which still contain significant quantities of tantalum.

In a related project, geology students from Glasgow and Mozambique will be working with Noventa, assisting our fieldwork teams during summer 2010. This fieldwork will provide improved mapping of exploration licence areas held by Noventa's subsidiary HAMC Limitada in Mozambique.

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

Daniel Briggs Religare Capital Markets (Broker) +44 20 7444 0500