CORRECTION FROM SOURCE: Rio Novo Gold Receives Positive Feasibility Study for Its Almas Gold Project


TORONTO, ONTARIO--(Marketwire - Nov. 8, 2012) -

This document corrects the Qualified Person statement and replaces the press release that was sent November 8th, 2012 at 06:00 ET.


Rio Novo Gold Inc. (TSX:RN) (TSX:RN.WT) ("Rio Novo" or the "Company") is pleased to announce the results of the definitive Feasibility Study ("the FS") for its 100%-owned Almas Gold Project ("Almas" or "the Project"), located in Tocantins State, Brazil. The FS is authored by Pincock Allen & Holt (PAH), Rio Novo's independent engineering consultant, and complies with the requirements of National Instrument 43-101 "Standards of Disclosure for Mineral Projects".


The results of the FS were presented to Rio Novo's Board of Directors and unanimously approved. The construction of the Project is now subject to the successful arrangement of project financing. Rio Novo sees strong interest from various financial institutions to finance the project. A number of indicative term sheets have been received from financial institutions and the company is now working along with its financial advisor to arrange the most optimal financial structure for the Project.


Highlights of the Almas FS are as follows:

more at above link........................