San Antonio-based Nova Mining Corp. announced last week
that it has received very encouraging due diligence documents, including
thirs-party lithium estimate reports and government license documents,
regarding the Bayankhongor mining property.

The Bayankhongor property is one of the three major
licensed lithium fields owned by Mongolian National Mining Consultants Limited
(MNMC).

Last Monday, Nova Mining Corp moved to secure valuable
lithium supplies by executing a letter of intent with MNMC for the exclusive
right to purchase 100 percent of the lithium produced from the MNMC mining
properties at a discount to market price.

MNMC is a Hong Kong company, with its principal business
operations in Ulaanbaatar, Mongolia. MNMCis the registered owner of multiple
mining properties that are located in Mongolia. Recent surveys of MNMC’s mining
properties indicate significant quantities commercially recoverable lithium
reserves.

Nova Mining Corp, seeks out the most potentially
lucrative mining projects and supplies of strategic high-demand minerals, such
as lithium, as part of its newly-instituted aggressive business model. Luthium
is the main ingredient in long life batteries, like those used in many of Apple’s
electronic devices, Microsoft’s new Surface tablet and General Motor’s new Volt
electric automobile.

Lithium is currently in very demand and forecast by
MarketResearch.com to quadruple from an $11 billion market to $43 billion
market.