IN Innovium Media Properties Corp.

Innovium Media Properties Corp. (TSX VENTURE: IN)(FRANKFURT: IH7) ("Innovium" or the "Company") has been unable to complete its audit and file its 2010 year-end financial statements in time to meet its regulatory deadlines and, as a consequence, is now subject to a cease trade order. Innovium plans to complete its audit as expeditiously as possible. The Company will be applying for an extension to hold its Annual General Meeting of Shareholders at a later date.

Innovium has devoted its cash and personnel resources to assisting Seed Media Group LLC ("Seed"), a US-based private company, in which it maintains an approximate 33% interest. Seed is now operationally cash flow positive, reflecting the vibrant growth of its visualization business and a strategic partnership for ScienceBlogs.com with National Geographic. As a result, Innovium is actively seeking new capital to rejuvenate its own balance sheet.

About Innovium Media Properties Corp.

Innovium's venture investment portfolio is devoted to Seed Media Group LLC, a private media and technology company focused on the professional and consumer science markets. Seed's award winning brands include Seed® (seedmagazine.com) and ScienceBlogs® (scienceblogs.com). Innovium trades under the symbol IN on the TSX Venture Exchange ("TSX - V") and IH7 on the Frankfurt Stock Exchange ("FWB").

For additional information contact: innovium@innovium.ca.

We seek safe harbour

Neither The TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Contacts: Innovium Media Properties Corp. Neil Raymond Chairman and CEO (514) 281-0481 ceo@innovium.ca Innovium Media Properties Corp. James Macintosh President and COO (416) 862-7444 coo@innovium.ca Innovium Media Properties Corp. Julio DiGirolamo CFO and Corporate Secretary (416) 862-7444 cfo@innovium.ca