beginning to run

Sydney - Thursday - October 12: (RWE Australian Business News) -
Nova Energy Ltd (ASX code: NEL) reports the first 49 holes of a 400-hole
infill and extensional program at the Centipede-Lake Way uranium
project, 10km south of Wiluna in WA, have been completed.
Also, some 63 old holes, generally with missing historical assay
data, have been radiometrically re-logged, providing 112 new drill
intersections for the Centipede uranium resource.
The previously reported inferred resource at Lake Way and
Centipede is 15.5 million tonnes at 0.58kg/t U3O8 (1.27 lb/t) for 19.8
million contained lbs of U3O8.
On completion of the drill program (expected November) the new
data is expected to result in several refinements to the resource model.
The increased resolution of the resource will provide a JORC
compliant indicated resource to be used in a bankable feasibility study.

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Holes drilled to the east of the northern part of the resource
intersected high-grade mineralisation, including 0.59m at 1.14 kg/t
(2.52lb/t) eU3O8.
These results indicate that sub-horizontal sheets of shallow
uranium mineralisation extends further east than previously interpreted.
Infill drilling and gamma probe logging within the boundaries of
the existing inferred resource has confirmed, and in some cases
improved, the grade, thickness and continuity of uranium mineralisation.
Results that are substantially better than predicted by the
resource model include 3.52 m at 1.11 kg/t (2.44lb/t) eU3O8 and 3.66m at
0.82 kg/t (1.81lb/t) eU3O8.
The resource validation assays confirmed that historical
down-hole data used in the existing resource model is reliable.
Among the results is 4.12m at 1.2 kg/t (2.65lb/t) eU3O8.