GeoNovus Acquires Option on Nyakagwe Project, Tanzania From Redhill Resources

GEONOVUS MINERALS CORP. (TSX VENTURE:GNM) ("GeoNovus" or the "Company") is
pleased to announce it has signed a letter of intent with Redhill Resources
Corp. ("Redhill") to acquire all of Redhill's rights to the Nyakagwe Project in
Tanzania (the "Nyakagwe Project"), which is strategically located on the
Bulyanhulu regional trend within six kilometres of African Barrick Gold's 10.6
million ounce Bulyanhulu gold mine. 


The Bulyanhulu gold mine is an operating underground gold mine with proven and
probable gold reserves of 10,632,000 ounces, and a life-of-mine currently
estimated to be more than 25+ years (see www.africanbarrickgold.com). 


The Nyakagwe Project consist of 46 primary mining licenses ("PMLs") and one
prospecting license ("PL") encompassing a combined area of approximately 500
hectares surrounded entirely by prospecting licenses and applications for
prospecting licenses owned and presently being explored by Tembo Gold Corp.
("Tembo"). 


The Tembo Gold Project is located directly northwest of and adjacent to the
Bulyanhulu gold mine. Tembo established a drilling expenditure budget for 2011 -
2012 of $14,000,000 (as per www.tembogold.com), and is currently conducting a
90,000 metre drill program on its Tembo Gold Project (see Tembo news release of
July 24, 2012). Recent drilling by Tembo on its Ngula 1 target is in close
proximity to Redhill's PML 243 and encouraging results are discussed in
Redhill's news release of June 22, 2012 and Tembo's news release of June 7,
2012. 


"This acquisition provides the Company with an exciting opportunity to
participate in this highly sought after area, so close to the renowned
Bulyanhulu mine operated by African Barrick Gold. The Company has been looking
to expand and diversify GeoNovus's interests, and so we appreciate this chance
to work with Redhill to explore this possibility," says Mike England, President
and CEO of GeoNovus.


Redhill completed the acquisition of its initial 85% interest in the 46 PMLs and
100% interest in the PL in June 2012 (see Redhill news release dated June 14,
2012) and has the right to acquire the remaining 15% interest in the PMLs by
paying a sum equal to 5% of the spot price of gold at the date of purchase
multiplied by the number of mineable ounces of gold that the 15% interest
represents based on a feasibility study.


To acquire Redhill's interest, including the right to acquire the remaining 15%
interest in the PMLs, in the Nyakagwe Project, the Company has agreed to pay to
Redhill the sum of $1,200,000 in instalments over the next 18 months plus issue
1,000,000 shares of the Company to Redhill. The Company has a period of 60 days
from the date hereof in which to carry out its due diligence. In addition to the
Company being satisfied with the results of its due diligence, the acquisition
is subject to the Company and Redhill entering into a definitive agreement and
acceptance for filing by the TSX Venture Exchange on or before December 31,
2012. A finder's fee will be payable in accordance with the policies of the TSX
Venture Exchange. 


Historically, limited exploration has been carried out on the Nyakagwe Project,
however, large scale artisanal gold mining has been conducted on the properties
for more than a decade and continue to be prevalent. As stated by Redhill in its
news release dated March 1, 2012, the artisanal gold mining locations typically
represent outcropping of the mineralized structures and are excellent
exploration targets to be tested in a future exploration program. The technical
contents of this release were approved by Marvin Mitchell, P. Eng., a director
of GeoNovus and qualified person as defined by National Instrument 43-101. 


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.

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