Ann: Kalamazoo Sells Joint Venture Interest in Queens to Novo, page-2

Commenting on the sale Kalamazoo’s Chairman and CEO Luke Reinehr said today, “It’s the right strategic movefor Kalamazoo to sell our 50% interest in the Queens Project to our JV partner Novo Resources.

As Novo already hasa similar arrangement on the ground adjacent to the Queens Project with GBM, there are obvious synergies forNovo to consolidate its exploration activities in this highly prospective region. Given our existing relationship withNovo as a strategic Kalamazoo investor and as an exploration partner, we appreciate that this is a great opportunityfor Novo to apply its exploration skills across the combined Malmsbury project area