China Nuvo Solar Provides Update on Freya Energy Transaction

WEST PALM BEACH, Fla., July 20, 2011 /PRNewswire/ -- China Nuvo Solar Energy, Inc. (OTCQB: CNUV) (OTCBB: CNUV) announced today developments with the previously announced Freya Energy, Inc. acquisition. The parties have mutually agreed to terminate further discussions regarding any possible transaction. The parties acknowledge that since the time period for the letter of intent has expired, each party has no obligation to the other and both may move forward with their individual plans.

About China Nuvo Solar Energy

China Nuvo Solar Energy, Inc. is a development stage company that owns unique patent pending solar and photovoltaic related technology. The Company's business model presently includes a roll-up strategy of clean energy companies and intellectual property within the renewable energy sector, however, the Company is also seeking other business opportunities.

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.

For Further Information Contact:
Henry Fong, President
(561) 514-9042

SOURCE China Nuvo Solar Energy, Inc.