Dr. Quinton Hennigh reports

NOVO TO ACQUIRE 100% INTEREST IN BEATONS CREEK MINING LEASES

Novo Resources Corp. has signed an agreement to secure its right to 70 per cent in three tenements covering the Beatons Creek gold-bearing conglomerates and to purchase the remaining 30-per-cent interest from Millennium Minerals Ltd., an Australian Securities Exchange-listed company. The tenements comprise mining leases 46/9, 46/10 and 46/11, and were previously the subject of a farm-in agreement whereby Novo had the right to earn a 70-per-cent interest through completing a bankable feasibility study by August, 2016. Millennium has agreed to waive the need for a bankable feasibility study. As a result, Novo has satisfied the conditions of the farm-in agreement and is entitled to 70 per cent in the tenements. This 70-per-cent interest is limited to gold rights in the tenements. Millennium has also agreed to sell to Novo the remaining 30 per cent in the tenements, together with all other rights Millennium has in the tenements. Upon completion, the farm-in and joint venture agreement will come to an end and Novo will obtain 100-per-cent title to the tenements.

The purchase price paid by Novo for Millennium's interest in the tenements is $3.8-million (Australian). Millennium must deliver consent from its senior lenders at closing, expected shortly. Australian Foreign Investment Review Board approval has been received by Novo. Transfer of legal interest in the tenements is subject to receipt of approval of the Minister of the Crown in the right of the State of Western Australia to the transfer of the tenements. If this ministerial approval is not granted by June 15, 2015, Millennium is required to return the purchase price.

"We are very pleased to reach this agreement with Millennium," commented Dr. Quinton Hennigh, president and chief executive officer of Novo Resources. "Gaining 100-per-cent ownership of these mining leases will give our shareholders more exposure to this exciting project and will put the company in a strong position to move this project forward."

We seek Safe Harbor.