Nova Mining Corp Receives Positive Reports on New Dornogobi Lithium Mining Property
Nova Mining Corp. (OTCBB:NVMN) announced today that the Company has received very encouraging due diligence documents, including 3rd party lithium estimate reports and government license documents, regarding the Dornogobi mining property. The Dornogobi property is one of three major licensed lithium fields owned by Mongolian National Mining Consultants Limited (MNMC). Early last week, Nova Mining Corp moved to secure valuable Lithium supplies by executing a Letter of Intent with MNMC for the exclusive right to purchase 100% of the Lithium produced from the MNMC mining properties at a discount to market price. As part of the deal, Nova Mining has the right to perform Due Diligence, prior to both parties promulgating the Definitive Mineral Production Agreement. Nova Mining Corp has already reported receiving positive due diligence reports on the Bayankhongor lithium mining property, which is also one of the three licensed lithium fields owned by MNMC.
Lithium is in critical supply, partially due to the explosion of smartphone manufacturing. (Photo: Business Wire)
Mongolian National Mining Consultants Limited 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 mining properties indicate significant quantities of commercially recoverable Lithium reserves.
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 newly-instituted aggressive business model. Lithium is reportedly in crucial short supply and is the main ingredient in long life batteries, like those used in many of Apple's (NASDAQ: AAPL) popular electronic devices, Microsoft's (NASDAQ: MSFT) new Surface tablet and Toyota's (NYSE: TM) new electric vehicles. Lithium is forecasted by MarketResearch.com to quadruple from an $11 Billion market to $43 Billion market.
More information on Nova Mining Corp can be seen at: http://www.nova-mining.com
About Nova Mining Corp. (OTCBB: NVMN)
Nova Mining Corporation is a Nevada corporation listed on the OTCBB under the trading symbol NVMN. The Company's is a growth-focused entity that seeks to acquire an international portfolio of strategic high-demand mineral mining assets. The Company operations philosophy includes securing local partners with strong management abilities and proven records for low production cost and high return on investment. Nova Mining is listed on the NASDAQ OTC exchange under the symbol NVMN. NVMN competes in an industry sector that includes the FMC Corporation (NYSE: FMC).
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
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Nova Mining Corporation
James Dilger, 210-581-7753