Mr. Michael England reports

GEONOVUS CORPORATE UPDATE

GeoNovus Minerals Corp. has provided the following corporate update to its shareholders.

Scotia property

The company has entered into an agreement with Glenmark Capital Corp. whereby Glenmark can earn a 100-per-cent interest in the Scotia zinc-silver project, which covers an area of about 4,040 hectares in the Skeena mining division, about 40 kilometres southeast of Prince Rupert in west-central British Columbia, Canada. Glenmark can earn a 100-per-cent interest by paying in stages $375,000 and completing $750,000 in exploration expenditures over 36 months. The 100-per-cent interest is subject to an underlying 2-per-cent net smelter return royalty payable to Doublestar Resources Ltd., with an additional 0.5-per-cent net smelter royalty payable to GeoNovus, of which 1 per cent can be purchased by Glenmark for $1-million. This transaction is subject to TSX Venture Exchange approval.

Corona project

Company geologists continue to assess 2014 drill results and other data to determine upcoming programs.

Affinor licence

The Affinor licensing agreement, announced on Oct. 23, 2014, remains intact, and the company is assessing various land scenarios suitable for this project as well as other options.

Langley land

The company has determined to not proceed with the acquisition of land in Langley as announced on Oct. 29, 2014.

Uruguay

GeoNovus management is currently assessing its options with regard to the Uruguay operations.

The company also announces the cancellation of the non-brokered private placement of two million units at a price of six cents per unit announced on Oct. 30, 2014.

We seek Safe Harbor.