Management of Nova Mining Corp. today
that they have received the reports and government license documents on the
third lithium mining property owned by Mongolian National Mining Consultants
Limited (MNMC). Management states that the reports are encouraging as were the
reports on the first two properties. Nova Mining Corp has contracted with MNMC
for the exclusive right to purchase 100% of the lithium produced from three
large licensed MNMC mining properties at a discount to market price.

“We are moving forward!”
stated Nova Mining President James Dilger. “We have the initial financing
commitment to continue our assessment of the MNMC deal, and we will actively
pursue the finding and securing of additional lithium assets. It appears Nova
Mining Corp has selected a potentially very lucrative point to make bold moves
on securing lithium supplies. All of the activity we are seeing leads us to
believe that lithium will continue to escalate in price and supplies will
become even more valuable.”

Multiple reports of Apple”s booming iPad sales, smartphones and
electric cars driving up lithium prices and tightening demand have recently hit
the news as these items need lithium as the main ingredient in their long-life
batteries. Consumers are also anticipating an Apple iPhone 5 to be released
this year. Bloomberg reported that, due to the exploding popularity of iPads
and increasing sales of hybrid cars, investors from JPMorgan Chase & Co. to
BlackRock Inc. are investing in producers of lithium for batteries.

MNMC is a Hong Kong company, with
its principal business operations in Ulaanbaatar, Mongolia. MNMC is the
registered owner of multiple mining properties that are located in Mongolia.
Recent Surveys of MNMC”s large mining properties indicate significant
quantities of commercially recoverable Lithium reserves. As part of the new
lithium purchase deal, Nova Mining has the right to perform Due Diligence on
the three licensed lithium fields, prior to both parties promulgating the
Definitive Mineral Production Agreement.

Nova Mining Corp. (NVMN) seeks out
the most potentially lucrative mining projects and supplies of strategic
high-demand minerals, such as lithium, as part of its aggressive economic
business model. Lithium is the main ingredient in long life batteries, like
those used in many of Apple”s popular electronic devices, Microsoft”s  new
Surface tablet and Tesla Motor”s new electric cars.