GeoNovus Announces Completion of Due Diligence Period on Nyakagwe Project, Tanzania
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VANCOUVER, BRITISH COLUMBIA, Nov 22 (MARKET WIRE) -- GEONOVUS MINERALS CORP. (TSX VENTURE:GNM) ("GeoNovus" or the "Company") has announced that it has completed its due diligence with respect to its proposed option to acquire all of Redhill Resources Corp. ("Redhill")'s interest to the Nyakagwe Project in Tanzania (the "Nyakagwe Project"), which was previously announced in the Company's news release dated September 25, 2012. The Company intends to proceed in settling the terms of the acquisition with Redhill in a formal option agreement. The Nyakagwe Project consists of Tanzanian primary mining licenses and a prospecting license which together encompass a combined area of approximately 500 hectares surrounded entirely by prospecting licenses and applications for prospecting licenses owned and presently explored by Tembo Gold Corp. Further information regarding the deal terms and the Nyakagwe Project can be found in the Company's news release dated September 25, 2012. GeoNovus Minerals Corp. is a junior exploration company actively seeking mineral and energy development opportunities for the benefit of all of its stakeholders, with three active porphyry copper exploration projects in Arizona. GeoNovus Minerals Corporation (TSX VENTURE:GNM) is a junior exploration company actively seeking mineral and energy development opportunities for the benefit of all our stakeholders, with three active porphyry copper exploration projects in Arizona. ON BEHALF OF THE BOARD Michael England, President Forward-Looking Statement: Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of GeoNovus Minerals Inc. Actual results may differ materially from those currently anticipated in such statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Contacts: GeoNovus Minerals Corporation 1-604-683-3995; Toll Free: 1-888-945-4770 1-604-683-3988 (FAX) www.geonovusminerals.com Copyright 2012, Market Wire, All rights reserved. -0-