Nova Growth Corp. - Corporate Update & Financing Requirement

    Trading: Canadian Trading and Quotation System Inc. ("CNQ")
    Symbol:  "NOVA"

    TORONTO, Oct. 30 /CNW/ - Nova Growth Corp. (the "Company") trading on CNQ
( under the symbol "NOVA" announces the following.
    The Company announces that it has filed its July 31, 2007 Audited
Financial Statements. The July 31, 2007 Audit together with the Management
Discussion and Analysis and other Securities Commissions and Exchange required
documents have also been filed. These documents can be viewed at
and at as described at the end of this release.
    The Company will be announcing in due course the date and time of its
Annual and General Meeting of shareholders. Shareholders of record will be
entitled to vote at the meeting. Details in respect of this meeting will be
mailed to all shareholders of record.
    The Company is continuing in its efforts to secure up to $1,000,000 by
way of a private placement financing. Proceeds from this offering will be used
to reduce the Company's loan account, reduce the Company's accounts payable
account and provide general working capital for its ongoing expenses.
    Nova Growth Corp. has 5,418,017 common shares outstanding, 670,000 Stock
Options to purchase common shares at $1.50 per share expiring March 31, 2008
and 862,000 Warrants to purchase common shares at $0.50 per share expiring
February 28, 2010. As such, the fully diluted share capital position of the
Company is 6,950,017.

    Nova Growth Corp. is an Ontario public company. Since March 13, 1998 the
Company has been pursuing its claim to an ownership interest in the Niagara
Falls Casino Gateway Project located in Niagara Falls, Ontario. This project
was awarded to a consortium on February 18, 1998. The claim, Court File No.
98-CV-143556 is against Falls Entertainment and against former management of
the Company, Andrzej Kepinski, Richard Boxer, and their holding companies. In
addition, the Company is pursuing two other actions in the Courts of Ontario
against Shiplake Casino Corp. and Park Gaming L.P., Court File No.
00-CV-197099 and Coopers & Lybrand, et al, Court File No. 98-CV-149051.
    To review Nova Growth's public documents please visit and
search Nova Growth Corp. For trading and other corporate information visit under the trading symbol "NOVA".

For further information:

For further information: Mr. Brian L. Hamm, President and Director at
(416) 502-0025

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