Trading Statement

Noventa Limited

("Noventa" or the "Company")

Update on funding requirements and operations 

3 June 2011

Further to the announcement released on 2 June 2011, Noventa (NVTA-AIM) (NTA-TSX) (NV-PLUS) now provides a further update on its operations and funding requirements.

After consultation with its advisers and a detailed review of its operations, the board of Noventa is now in a position to confirm that it will need to raise approximately US$25 million (equivalent to approximately £15.3 million using an exchange rate of £0.6127 to the dollar) and has initiated discussions regarding funding options. This funding is required to bring the new plant at Marropino, with a capacity of 600,000lbs per annum, into full operation.

Noventa hopes to secure the funds prior to the end of July 2011 to enable the Company to complete the commissioning of the new plant in Q4, consistent with previous announcements. The Company intends to ramp-up the production from 500,000lbs of contained Ta2O5 to the full rate of 600,000lbs of contained Ta2O5 per annum by the end of the year.

Any delays experienced as a result of the funding gap are expected to be minimal if the additional funds are in place prior to mid July 2011.

The funds required are to be used to meet the shortfalls identified in the 2 June 2011 announcement and can broadly be categorised as follows:-

The Company currently has a cash position of approximately US$17.6m.

The announcement released on 2 June 2011 stated that due to mechanical difficulties the interim communication circuit ("ICC") has not been achieving its target production rate of 200,000lbs per annum. The necessary corrective action has now been taken by management and it is anticipated that production will increase from its current rate of production of circa 140,000lbs of contained Ta2O5 per annum to 175,000lbs per annum by the end of June 2011 and 200,000lbs per annum by the end of July 2011.

Noventa currently has two shipments planned, each of some 5,100lbs of contained Ta2O5 concentrate to each of the two off take customers, which are due to be transported by ship mid June 2011.

In addition, Noventa would like to confirm that the 10% coupons attached to its convertible preference shares of £1.00 each have been provided for in the current financial year and it is expected that they will be paid in accordance with their terms.

Further announcements will be made as appropriate.

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

Andrew Chubb/Kit Stephenson

Canaccord Genuity Limited (Broker)+44 20 7050 6500

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.