GeoNovus Announces Completion of Due Diligence Period on Nyakagwe Project, Tanzania

Thu Nov 22, 2012 2:20pm EST

* Reuters is not responsible for the content in this press release.

  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

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