NOTE 2 RELATED PARTY TRANSACTIONS
In the years 2005 - 2008, the Companys former President advanced to the Company an aggregate of $110,000. The advance was non-interest bearing and due on demand. As of August 31, 2012, this amount has been purchased by an outside party and is no longer owed to the Companys former President.
As of August 31, 2012, $114,300 has been paid in compensation for services rendered to the President, Vice President and Chairman of the Board of the Directors.
As of August 31, 2012, $2,500 has been paid in compensation for rent to the Vice President.
As of August 31, 2012, all activities of Nova Mining have been conducted by corporate officers from either their homes or business offices. Currently, there are no outstanding debts owed by Nova Mining for the use of these facilities and there are no commitments for future use of the facilities.