Nova Energy

Nova Energy, a new vehicle formed by Perth stockbroker Argonaut Capital, is making an initial public offering to finance work at two uranium projects near Wiluna WA. It was incorporated on 29 October 2004 as a public company primarily as a joint initiative between Argonaut Capital and Agincourt, to explore, evaluate and exploit the Centipede and Lake Way uranium deposits and surrounding exploration tenements in the Wiluna region of Western Australia (Wiluna Uranium Assets).

Gold miner Agincourt Resources will own half of the Nova stock.

The deposits are close to the surface and on the company's estimates combine 9000 tonnes at over a high 2lb/tonne grade, worth approx $600 million.

The following two tenements still appear to be held by other parties while the deals are finalised.

Lake Way L53/144, E53/1120 Wiluna Operations (16km s-e of Wiluna) near-surface deposit in the lake bed; former uranium test mine.

Centipede Newmont Gold M53/224 (20km south of Wiluna) would presumably be mined as a satellite deposit to Lake Way.

Nova may also be referring to :

Turee Creek Uranium Deposit E52/1763 Aldershot Resources

Lake Way E53/1150, E53/1132 Allarrow Pty Ltd

E53/1168 Wiluna Operations

Updated August 2005

Company Information

1 st Floor, 16 Ord Street
West Perth WA 6005

http://www.novaenergy.com.au/

Directors

Richard Pearce (Managing Director)
Dr Vanessa Guthrie (Non-Executive Director)
Kent Hunter (Non-Executive Director)

Proposed Directors
Dr Tim Sugden (Non-Executive Chairman)
Peter Bowler (Non-Executive Director)

Not listed yet, capital raised $6m, sponsoring broker Argonaut Securities Pty Ltd