Mr. Michael England reports

GEONOVUS SETTLES DEBT FOR SHARES

GeoNovus Minerals Corp. has completed a shares-for-debt agreement totalling $102,801.04 with arm's-length creditors through the issuance of 900,000 common shares of the company.

The company further announces it has set 300,000 options exercisable at five cents to a consultant in accordance with the company's stock option plan.