Rio Novo Gold Inc.

COMPANY DATA | EXECUTIVE SUMMARY | PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE

Address:	155 University Avenue, Suite 1240 Toronto, Ontario Canada M5H 3B7
Tel No.:	(416) 368-8288
Fax No.:	(416) 368-2988
Web Site:	www.Rnovogold.com
Corporate Email:	alex.penha@Rnovogold.com
Contact Person:	Alex Penha
Position:	General Manager, Corporate Development

COMPANY DATA

Traded Market:	TSX
Traded Symbol:	RN
Outstanding Shares:	113.4 Million
Public Float:	48.8 Million
52 Week High:	$ 2.82
52 Week Low:	$ 1.10
Present Price:	Click Here

EXECUTIVE SUMMARY

Rio Novo Gold (RN-TSX) is an emerging gold company focused on the acquisition, exploration and development of gold mineral resource properties in proven mineral jurisdictions in South America. Rio Novo's goal is to become a socially and environmentally responsible gold producer with the development of the Company's two district scale, underexplored properties in Brazil: the past-producing Almas Gold Project, previously mined by Vale, and the Guaranta Gold Project. The development of both projects will take full advantage of local infrastructure, including low-cost power, water, paved roads and a skilled labour pool. Rio Novo's management team, board of directors and technical advisors enjoy an outstanding track record in mine financing, exploration, development and production with comprehensive experience and operational success in Brazil.

Value Creation Proposition

Prime Assets in Prime Jurisdiction: Two proven and underexplored gold districts in mining-friendly Brazil - one of the world's leading jurisdictions for mining investment (Fraser Institute)
Fast-Tracking to Production and Cash Flow: Existing permits for Almas to be reactivated - production expected by Q1 2012
Low Capex: Close to town - no mining camps needed; Power - transmission lines on top of properties; Ease of access through paved roads; Access to equipments - local availability
Low Cash Operating Costs: Access to power from national grid; Water; Favorable and simple metallurgy - high 90's recovery; Pool of skilled professionals; Lean G&A
Organic Growth: Existent resources open along strike and at depth; Significant exploration program at multiple identified targets, many with historical artisanal mining work - over 130,000 ha of exploration licenses; 40,000 metre drilling program in 2010
Growth Through M&A: Active assessment of accretive transactions in Brazil and Colombia
Corporate Citizen: Committed for the highest standards on safety, environment, training and community relations
Government and Community Support: Projects located within priority development regions with favorable tax system
Execution: Experienced Management & Strong Board with outstanding track record in financing, exploration, development and production with comprehensive and operational success in Brazil

PROJECT IN HAND

(1) Almas Gold Project, Tocantins State, Brazil

The Company's 100%-owned Almas Gold Project is located in the southeastern portion of Tocantins State near the municipality of Almas in central Brazil. The 2010 diamond drilling program at Almas has been completed with 39,745 metres of which 29,416 have been assayed. At the Paiol target 21,662 metres have been completed.

It is the intent of Rio Novo to start project field construction of the Almas gold mine in the second quarter of 2011, in order to meet the corporate strategy of starting production by end of first quarter 2012.

History of Production with Additional Upside through Exploration

Start-up expected to 2012
18 km of underexplored Archean Greenstone Belt
Operated by Vale from 1996-2001
2 known gold deposits, Paiol and Arroz - open along strike and at depth
Paiol Deposit - 1.45 million oz estimated by Vale (non 43-101; 670 holes)
4 rigs drilling 30,000 metres in 2011 - aims to bring historical resources to NI 43-101 compliant standards
543,500 oz (43-101 compliant) initial resource by twinning about 50% of Vale's holes
At least 6 additional targets within trucking distance of Paiol based operations
Existing permits to be reactivated in the short-term
Established infrastructure, including roads, power, water and town

(2) Guaranta Gold Project, Mato Grosso State, Brazil

The Company's 100%-owned Guaranta Gold Project is located in the northern part of Mato Grosso State, Brazil, in the Guaranta gold district, near the city of Guaranta do Norte. The principal target is the X1 Deposit where a resource has been estimated.

108,000 ha of Exploration Potential at Multiple Targets

Start-up expected to 2013
Underexplored large land package with 108,000 ha previously owned by Vale
Potential for a large Proterozoic gold porphyry within an extensive, low sulphidation, epithermal system
X1 Deposit - 9 km from town with initial 369,000 oz resources (43-101 compliant)
Likely multiple 200-500k oz open pit deposits within trucking distance (approximately 25 km) from centralized X1 Planned Mill
Includes the Guaranta Ridge target with 6 km trend containing numerous mineralized intersections
4 rigs drilling 30,000 metres in 2011 - infill and stepout drilling
Environmental study started in 2010
Established infrastructure, including roads, power, water and town

MANAGEMENT

David M. Beatty, B.Comm., MBA, CEO and Director
Deputy Chairman, Westwind /Thomas Weisel Partners; Head of Mining & Minerals Groups at First Marathon and Gordon Capital; Co-Founded Yamana Gold; was a member of the TSX/OSC Mining Standards Task Force; Chairman, Rio Verde Minerals; Director, Aureus.

Julio Carvalho, CA, MBA, President and Director
Over 38 years experience in the Brazilian mining sector. Previously, Executive Director and CFO of Rio Tinto Brazil (including Paracatu gold mine, Fortaleza nickel mine and Corumba iron ore mine) for 33 years.

Malcolm Lake, P. Eng., Senior Vice President of Operations and COO
Ex-Vice President, Project Development, Canico; Technical Director, Ivanhoe Mines and General Manager of Myanmar Ivanhoe Copper; Chief Metallurgical Engineer of SNC-Lavalin's Mining Division (40 years experience).

Rosemberg Araujo, CA, Brazil CFO
Former Controller, Anglo-American Brasil; Ex-CFO, CAEMI Mining; CFO, Peak Gold; former Senior Auditor, PriceWaterhouseCoopers, Brazil.

Julio Liz, General Manager, Exploration
Former Senior Geologist, Barrick Brazil and Anglo American Brazil; Project Manager, Xstrata, Codelco and Noranda Minerals (35 years experience)

Victor Hugo Belo, P.Eng., MBA, General Manager, Operations
Former General Manager of Operations, Paracatu gold mine under Rio Tinto and Kinross management; Former Vale (Iron Ore) project consultant (28 years experience).

Alexandre Penha, General Manager, Corporate Development
Former Merrill Lynch Gold Research Associate; Former Investment Banking Associate at Thomas Weisel Partners.

Dione Queiroz, General Manager, Human Resources
Over 16 years of experience in human resources for mining companies; worked as Head of Human Resources with Rio Tinto Brazil for over 10 years.

Sol Tomich, General Manager, Sustainable Development
Former General Manager, Community Relations and Environment, AngloGold Ashanti, South America; Former General Manager, Sustainability, Rio Tinto Brazil (20 years experience).

Ernesto Wiering, P. Eng., General Manager, Engineering
Over 40 years of experience in the mining and metallurgical fields, including the position of Engineering Manager of the Onca Puma Nickel project with Canico Resource.

Board of Directors

Sean Roosen, Non-Executive Chairman
David Reading
Jonathan Rubenstein
William Dorson
Eduardo de Toledo
David Beatty
Julio Carvalho

NEWS UPDATE

On March 1, 2011, Rio Novo Gold Inc. announced that it has signed a purchase agreement with Anagold Madencilik AS to acquire a ball mill and several other processing equipment items for installation at its 100-per-cent-owned Almas gold project in Tocantins, Brazil.

The ball mill has a design throughput capacity of two million tonnes of ore per year. All of the equipment is new, unused, packed and crated, and is available for immediate delivery. Total consideration for the acquisition is US$3.8-million.