NOVENTA PROVIDES UPDATE ON THE RESOURCE ESTIMATE AND LIFE OF ITS MARROPINO MINE

TORONTO, May 16 /CNW/ - Noventa Ltd (NVTA-AIM) (NTA-TSX) (NV-PLUS) announces that in their NI 43-101 technical report of 27 September 2010 on the Marropino mine and associated properties, the authors Donald H. Hains, P.Geo. and Mark Mounde, C. Eng. of  Scott Wilson Roscoe Postle Associates Inc ("Scott Wilson") confirmed and adopted the design pit reserve estimates for Marropino mine as calculated by Anton von Wielligh  Pr Eng (ECSA) Member SAIMM of A&B Global Mining Consultants ("A&B"), in his 2010 report "Marropino Mine: Open Pit Optimization and Life-of-Mine Production Schedule".  This life of mine reserve ("Life of Mine") was estimated by the latter as 7,583,931 tons at 219 parts per million ("ppm") Ta2O(tantalum pentoxide) on the basis of a tantalum price of US $ 60 per pound. The Life-of-Mine was estimated at 42 months at that price. The tonnage was reduced to 7,395,863 tons due to the presence of the existing Marrapino mine infrastructure. 

Since publication of the Scott Wilson report, A&B has carried out a price sensitivity analysis study on Marropino, which indicates increasing Life-of-Mine with higher tantalum prices. Using the Company's previously contracted off-take agreement sales prices for the period of the contracts, and a price of US $ 90 per pound for the Ta2O5  not subject to off-takes, the Marropino Life-of-Mine resource estimate increases to 8,124,159 tons at 223.03 ppm Ta2Owhich equates to an increase in Life-of-Mine to 50.77 months from 42 months.  At a price of US $ 100 per pound Ta2O5not contracted, the Life-of-Mine resource estimate increases to 8,834,036 tons at 222.73 ppm Ta2Owhich equates to an increase in Life-of-Mine to 54.69 months from 42 months. The increase in grade over the original estimate is due to higher grade resources becoming economic to extract at greater depth.

Scientific and technical information contained in this press release has been prepared under the supervision Declan A. Sheeran, BA. MSc  MAusIMM (306636) who is a "qualified person" in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The author is a paid consultant to Noventa-HAMC but has no other monetary or beneficiary links to the company.

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.

SOURCE Noventa Limited

For further information:

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

Joe Racanelli
TMX Equicom Group
416 815 0700 ext 243

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