TERRA NOVA MINERALS INC.

Terra Nova Minerals Inc. announce that the minimum tender bid condition of 75% of the issued and outstanding ordinary shares of Australian Energy Company Limited ("AECL") has been satisfied. As of today, approximately 80% of AECL ordinary shares have been tendered to the company's bid. Terra Nova has extended the bid to November 6, 2009 to allow shareholders to deposit over 90% of the AEC shares into the company's bid. Terra Nova also announce that at a special meeting of its shareholders held today, 98% of the Company's shareholders present at the meeting in person or by proxy voted in favour of the Company's acquisition of AECL and the related transactions, including the approval of a new stock option plan.