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GeoNovus Minerals Corp
Symbol GNM
Shares Issued 38,014,902
Close 2014-04-02 C$ 0.05
Market Cap C$ 1,900,745
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GeoNovus to start 5,000 m drill program at Corona

2014-04-03 08:29 ET - News Release

Mr. Michael England reports

GEONOVUS DRILLING TO BEGIN AT CORONA GOLD PROJECT, ONTARIO

GeoNovus Minerals Corp. has received permits and will begin drilling at its Corona gold project, located three kilometres northeast of Webbwood, Ont. The company will conduct up to 5,000 metres of core drilling along a northeast-trending structure that include the historic Shakespeare gold mine. The Shakespeare mine has operated intermittently since 1905 and produced 2,062 ounces of gold from 8,590 tons of material between 1905 and 1907. More recent grab sampling in the mine area reported 1.12 to 1.85 ounces per ton over an average width of one metre (Ontario Geological Survey Mineral Deposits Circular 18, 1979, Part 2, Page 294). Drilling is anticipated to start within 10 days.

The Corona gold project covers roughly 1,520 contiguous hectares, with the Shakespeare mine in the southwestern portion of the claim group. The mine is situated in northeast-trending about-2.4-billion-year-old schistose quartzite and greywacke that dips steeply to the south. The claim package encloses the east-northeast-trending Matinenda formation that hosts mineralization, including the downdip projection of the ore zone at the Shakespeare mine. In-house reports and data acquired with the property (see news release dated Nov. 7, 2013) included a pole-dipole induced polarization survey conducted in 2012, in which 12 short, north-south lines were run across the surface extension of the mineralized zone for a total of 2.87 line kilometres. According to the report, pseudo-sections generated from the pole-dipole IP survey appear to outline the trend of mineralization and can be traced in both directions along strike. The gold-bearing horizon appears to respond well to IP due to metre-wide zones of disseminated pyrite associated with quartz veins with surrounding shearing and alteration. Drilling will be focused to target these zones of high chargeability, and oriented to intersect the apparent downdip and along strike extension of mineralization observed at the Shakespeare mine.

President and chief executive officer Michael England stated: "We are very excited to begin drilling on the Corona gold project. Our review of data acquired with the project suggests that the mineralization at the Shakespeare mine continues along strike from the historic workings, and we will pursue that drilling in our present program. Additionally, the Shakespeare mine area is only a small portion of the total potential of the Corona project, and we anticipate a busy 2014 field season as we explore other historic workings along the trend."

The technical contents of this release were approved by Dr. Tom McCandless, PGeo, qualified person as defined by National Instrument 43-101. The property has not been the subject of a National Instrument 43-101 report and Dr. McCandless has not verified the technical data disclosed in this release.

We seek Safe Harbor.

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