NOVA Nova Res.

TIDMNOVA

RNS Number : 8806Y

Nova Resources Limited

30 January 2014

30 January 2014

NOVA RESOURCES LIMITED

("Nova" or the "Company")

Sole Distributorship of SM Boilers

Nova (AIM: NOVA), the investment company focused on high growth opportunities in the energy, infrastructure, technology, natural resources and manufacturing sectors, primarily in Russia and Asia, has been informed that Enerstry Co., Limited ("Enerstry Korea"), has been granted the exclusive distributorship (the "Distributorship") of SM Boilers (using wood pellets or wood chips as a fuel source) worldwide (except for South Korea), by Ssangma Machine Co., Ltd ("Ssangma Machine"). SM Boilers can be used in the types of renewable energy plants which have been recently built and managed by Enerstry Korea.

Ssangma Machine, established in South Korea in 1994, is a manufacturer of machinery, including boilers. Boilers are critical to the performance of energy plants that use wood chips or wood pellets as a fuel source. Nova's Board believes that having exclusive access to reliable and cost effective boilers should give Enerstry Korea a competitive advantage as it looks to expand its business. Under the terms of the Distributorship, Ssangma will only sell its SM Boilers (using wood pellets or wood chips as fuel source) to Enerstry Korea outside of South Korea; however, Ssangma Machine will honour all pre-existing commitments made to other parties.

Enerstry Korea's strategy is to build, own and operate steam and/or electricity plants with long-term offtake agreements from credit worthy companies. Enerstry Korea intends to create a long-term steady stream of income for the benefit of its shareholders. At the end of the initial terms of the offtake agreements, if they are not extended, the relevant plants will be transferred to the counterparty company that Enerstry Korea entered into the offtake agreement with. Enerstry Korea is 93.33 per cent owned by Enerstry Group, in which Nova has a 23.72 per cent shareholding.

Enquiries:

   Nova Resources Limited                                                          +65 6236 2985 

Chan Fook Meng, Chairman and CEO

   Daniel Stewart & Co (Nominated Advisor & Broker)                +44 20 7776 6550 

David Hart / Alex Brearley

   Blythe Weigh Communications                                               +44 20 7138 3204 

Paul Weigh / Halimah Hussain

This information is provided by RNS

The company news service from the London Stock Exchange

END

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