VANCOUVER, September 16, 2016 -
Novo Resources Corp. ("Novo" or the "Company") (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that, further to its news release dated August 25, 2016, it has completed the purchase of the Talga Talga, Warrawoona, and Mosquito Creek projects (collectively, the "Talga Projects") from
Talga Resources Ltd. ("Talga"), an Australian Stock Exchange listed company. Novo issued 765,115 common shares of Novo (the "Consideration Shares") to Talga in payment of the purchase price for the Talga Projects. Completion of the transaction was subject to Australian Foreign Investment Review Board approval, TSX Venture Exchange approval, and obtaining other third party consents and Ministerial approval, all of which have been received. The Consideration Shares are subject to a statutory hold period expiring January 16, 2017.
"We are pleased to gain 100% control over these three strategic, high quality properties," commented Dr. Quinton Hennigh, President, CEO, and a director of Novo. "Recent field work by Novo staff suggests potential for multiple targets on each block. Given our plans to advance Beatons Creek, these projects provide a pipeline of exploration opportunities."
About Novo Resources Corp.
Novo's focus is to evaluate, acquire and explore gold properties. Indirect subsidiaries of Novo hold a 100% interest in the Beatons Creek gold project, a 70% interest in properties surrounding Beatons Creek and Marble Bar, a 100% interest in the Blue Spec gold-antimony project, and options covering approximately 400 square km over the Mosquito Creek Basin, all in the Pilbara region, Western Australia. Novo also controls a 100% interest in approximately 2 sq km covering much of the Tuscarora Au-Ag vein district, Nevada. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com.
On Behalf of the Board of Directors, Novo Resources Corp.
"Quinton Hennigh"
Quinton Hennigh, CEO and President
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
