Novo Resources Corp.

Novo Resources provides an update on its mechanical sorting program. The Phase Two mechanical sorting trial has been completed, with samples from Comet Well, Purdy’s Reward, and Egina processed through the Sorter which was assembled adjacent to the Golden Eagle processing plant at the Nullagine Gold Project. The Phase Two trials represent a culmination of four years of test work conducted by Novo to determine the [...]

Novo Resources is pleased to report additional assay results received from the current diamond drilling program on RL006587 at the Malmsbury Project, approximately 50 km SSW of the high-grade Fosterville mine. Novo exercised its option over the Malmsbury Project to earn a 50% interest, and the right to earn an additional 10% interest by incurring A$5 million in exploration expenditure over a four-year period2. “The latest [...]

Novo Resources is pleased to provide an update on the Feasibility Study and key initial results from the ongoing resource definition drilling program. “The Fresh component of Beatons Creek accounts for approximately 65% of the global Beatons Creek mineral resource estimate and is integral to Novo’s operational success. With mining of the Oxide mineral resource nearing completion1,2, we have shifted our focus on the ground [...]

Novo Resources provides an operations update for Beatons Creek. In December 20211, Novo released a three-phase mine plan for Beatons Creek which comprised of: Mining of the Beatons Creek Oxide mineral resource through Q2 2022, with the expectation that low-grade stockpiles would be processed through Q3 2022. Thereafter, transition to mining of the higher-grade free-milling Beatons Creek Fresh mineral resource, subject to [...]

Novo Resources Corp. is pleased to advise that it has closed the first tranche of its previously announced sale of 15 million shares of New Found Gold Corp. . A total of 8.25 million New Found shares have been transferred to a corporation controlled by Eric Sprott at C$8.35 per share for gross proceeds of approximately C$68.9 million1. The second tranche of the Transaction, consisting of 6.75 million New Found shares at [...]

KEY POINTS Sumitomo Corporation of Tokyo, Japan has elected to convert its notional interest in Novo's Egina project in Western Australia to an equity stake in Novo1 Novo welcomes Sumitomo as a new shareholder with a twelve-month restricted 1.36% undiluted stake Pursuant to a non-binding memorandum of understanding2 , Novo and Sumitomo are discussing new exploration opportunities inclusive of base metal opportunities on [...]

Novo Resources Corp. advises that Mr. Rob Humphryson has resigned as a director and Chief Executive Officer. The Company would like to thank Mr. Humphryson for his invaluable contributions throughout his tenure at Novo. "Rob was one of the first additions to the Novo team when we officially established our base in Perth, Western Australia in 2017," commented Dr. Quinton Hennigh, Non-Executive Co-Chairman of Novo. "In a [...]

KEY POINTS Novo has agreed to sell its stake of 15 million shares in New Found Gold Corp. to a corporation controlled by Eric Sprott for gross proceeds of C$125.9 million pursuant to arm's length negotiations representing an aggregate 9.3% premium to market Completion of the Transaction will leave Novo debt-free and with a pro-forma cash balance of almost C$97 million1, with funds providing Novo with the flexibility to [...]

No lost-time injuries were recorded during the first quarter of 2022 Q1 2022 production of 13,378 oz Au from Beatons Creek conglomerate gold project , a 4.2% increase over the previous quarter and in line with guidance1 Q1 2022 revenue of C$31.9 million 2, a 6.7% increase over the previous quarter, from the sale of 13,364 oz Au Novo's production forecast for the first half of 2022 is now expected to be between 27 koz to [...]

Novo Resources Corp. is pleased to announce its financial results for the three and twelve-month periods ended December 31, 2021. All amounts are expressed in Canadian dollars, unless otherwise noted. This news release should be read together with Novo's management's discussion and analysis and audited consolidated financial statements for the year ended December 31, 2021 and the eleven-month transitional period ended [...]