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Novo Resources Corp
Symbol	NVO
Shares Issued	76,998,428
Close 2015-11-19	C$ 0.62
Market Cap	C$ 47,739,025
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ORIGINAL: Novo Updates Progress at its Beatons Creek Gold Project - Provides Overview of its New Blue Spec Gold-Antimony Project

2015-11-19 13:13 ET - News Release

(via Thenewswire.ca)

Vancouver, BC / TheNewswire / November 19, 2015 - Novo Resources Corp. ( "Novo" or the "Comp any" ) (TSX-V: NVO; OTCQX: NSRPF) is pleased to provide an update of progress at its Beatons Creek gold project and an overview of its newly acquired Blue Spec gold-antimony project, both located in Western Australia.

Progress at Beatons Creek

Novo is aggressively evaluating the potential economics of an open cast/gravity-recovery mining scenario for its Beatons Creek gold project. This work will form the basis for an upcoming preliminary economic assessment that will examine the viability of mining shallow, oxide-only resources documented in the Company's recently released report titled: "NI 43-101 Technical Resource Report, Beatons Creek Gold Project, Pilbara Region, Australia" (this report can be accessed on SEDAR or on the Company's website by clicking the following link: http://novoresources.com/pdf/NI-43-101-Technical-Report.pdf ).

In the Company's news release dated October 14, 2015, Novo discussed favorable metallurgical results indicating good gold recoveries are achievable with a simple, gravity-only mill. Soon after receiving this information, Novo began examining options and costs for constructing a new, "turn-key" mill for the Beatons Creek project. Two recent findings have caused Novo to reconsider this approach in favor of looking at potentially much cheaper alternatives.

Firstly, Novo recently contracted an engineer to inspect components comprising its newly acquired Blue Spec gold mill, part of the Blue Spec project. Althought this mill dates to the mid-1980's, the jaw crusher and cone crusher were determined to be in good condition and potentially compatible with the Beatons Creek milling scenario. Both have adequate throughput to meet the scope of the Beatons Creek project.

Second, due to the downturn in the mining sector, Novo has identified numerous new and used mill components across Western Australia that are available at modest prices. Novo has been looking at a spectrum of equipment potentially compatible with the Beatons Creek milling scenario.

As a result of these additional investigations, completion of designing and costing a mill, a critical component of the upcoming economic study, will be delayed until early 2016. The Company deems this added work and time as justifiable given the potential savings for the project. Work on other facets of the economic study are proceeding as planned.

Blue Spec Gold-Antimony Project Overview

The Blue Spec gold-antimony project encompasses approximately 125 sq km and is situated approximately 20 km due east of Novo's Beatons Creek Project. Gold mineralization is of orogenic lode vein style and is hosted by an east-west trending shear zone extending approximately 20 km along the length of the property. A significant amount of stibnite, a Sb-sulfide mineral, accompanies high-grade gold mineralization. This style of gold mineralization is present elsewhere in Australia including at the Costerfield mine in Victoria State (operated by Madalay Resources Ltd.).

High grade shoots at the Blue Spec and Gold Spec mines, host indicated resources of 151,000 tonnes at 21.7 gpt Au (105,300 oz) and 1.7% Sb and inferred resources of 264,000 tonnes at 13.3 gpt Au (112,600 oz) and 1.0% Sb. This historical estimate, disclosed in Northwest's news release of September 30, 2013 and in the mineral resource statement issued by Northwest on the same date (the " Northwest Disclosure Documents "), are stated to have been reported in accordance with the 2012 edition of the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves (2012 JORC Code), which are consistent with sections 1.2 and 1.3 of NI 43-101. For the key assumptions, parameters, and methods used to prepare these estimates, please refer to the Northwest Disclosure Documents which are available on Northwest's website (www.nw-resources.com.au). These are the most updated estimates and data available regarding the Blue Spec and Gold Spec deposits and, as such, no work needs to be done at this point in time to upgrade or verify the estimates. Novo is unaware of the existence of any technical report prepared in connection with the technical information contained in the Northwest Disclosure Documents. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Novo is not treating the historical estimate as current mineral resources or mineral reserves.

Since completing the Blue Spec acquisition on October 5, 2015, Novo has undertaken a comprehensive review of the project with a focus on exploration potential. Findings from this study conclude:

-- Drilling has not closed off mineralized shoots at either of the historic Blue Spec and Golden Spec mines (see Figures 1 and 2 below). In fact, each of these shoots is open to the east, west and at depth. Importantly, the 900 meter gap between these two mines (Golden Spec to the west and Blue Spec to the east) remains largely untested below depths of around 100 meters. See the table below for historic drill intercepts from multiple zones across the project including the Blue Spec and Golden Spec zones.
-- Splay zones coming off of the Blue Spec and Golden Spec veins have not been fully tested. Although drill holes targeting the main veins were largely successful at hitting those structures, many of these holes stopped short of testing nearby, sub-parallel splays. Also, some holes appear to have been selectively assayed, so it is also possible that core from splay structures was never sampled.
-- Near surface mineralization is evident in numerous locations along the 20 km strike of the Blue Spec shear zone. Numerous shallow (<150 m depth) drill intercepts from the Green Spec, Red Spec and Orange Spec zones reported in the table below illustrate this. In addition to shallow potential, it is worth noting that these three zones are also open at depth.
-- Four historic surface rock chip samples taken from outcrop and subcrop in areas ranging between 600 and 1,300 m west of the Golden Spec deposit display high grades (from east to west: 86.9 gpt Au w/ no Sb assay; 78.3 gpt Au/0.67% Sb; 143.8 gpt Au/0.56% Sb; 22.5 gpt Au/1.21% Sb). These samples suggest high-grade vein targets may present in this area.
-- Previous rock chip sampling efforts appear to have lacked focus. Through mapping, Novo has identified structural zones and has undertaken detailed sampling. Results are expected in early 2016.

Based on the conclusions of this initial review, Novo sees considerable potential for expanding known zones and discovering new high-grade shoots.

"We are quite excited by the prospect of potentially realizing significant cost savings for mill components for our Beatons Creek gold project," commented Dr. Quinton Hennigh, President, CEO and director of Novo Resources Corp. "We are similarly excited about recognizing significant upside for expanding gold zones and discovering new high-grade shoots at our newly acquired Blue Spec project."

Quinton Hennigh (Ph.D., P.Geo.) is the Qualified Person pursuant to National Instrument 43-101 responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is President, CEO and a Director of Novo Resources Corporation.

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 core of the Beatons Creek gold project, a 70% interest in approximately 1,800 square kilometers surrounding Beatons Creek and at nearby Marble Bar, and a 100% interest in the Blue Spec gold-antimony project, all in the Pilbara region, Western Australia. 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.

Forward-looking information

Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, statements as to the expected receipt of results from various exploration and testing activities and the economic viability of the Beatons Creek gold project. Forward-looking statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the mineral resource exploration industry as well as Novo having sufficient cash to fund the planned drilling and other exploration activities.

Click Image To View Full Size

( Figure 1 : Long section through the Blue Spec shoot showing drill intercepts. Gray area has been partially mined out. Note that there is no drilling below ~100 meters east or west of this shoot that closes it off.)

Click Image To View Full Size

( Figure 2 : Long section through the Golden Spec shoots showing drill intercepts. Gray areas have been partially mined out. Note that there is no drilling below ~100 meters east or west of these shoots that closes them off.)

Historic Drill Intercepts from the Blue Spec Gold-Antimony Project
Hole Number	From (m)	To (m)	Length (m)	Au (gpt)	Sb (%)	Zone
BSP0215	57.00	58.00	1.00	5.70	0.12	Blue Spec
BSD0017	414.70	421.00	6.30	9.46	0.01	Blue Spec
BSD0018	457.00	458.00	1.00	123.81	0.03	Blue Spec
including	457.50	458.00	0.50	245.00	0.03	Blue Spec
and	468.80	475.00	6.20	27.72	1.05	Blue Spec
BSD0018_W1	477.55	484.03	6.48	6.55	0.08	Blue Spec
and	489.00	492.00	3.00	5.75	0.02	Blue Spec
BSD0018_W2	476.54	477.48	0.94	19.12	0.05	Blue Spec
and	495.37	500.00	4.63	3.04	0.02	Blue Spec
and	554.40	557.00	2.60	8.91	0.01	Blue Spec
BSD0019	164.00	167.45	3.45	2.62	0.02	Golden Spec
and	167.45	169.27	1.82	14.86	1.89	Golden Spec
BSD0022	401.80	406.20	4.40	65.40	4.96	Blue Spec
including	401.80	403.40	1.60	176.63	13.61	Blue Spec
BSD0027	470.00	471.15	1.15	62.67	0.43	Blue Spec
BSD0028	425.63	427.64	2.01	40.71	0.01	Blue Spec
BSD0033_W1	520.20	521.70	1.50	14.18	0.07	Blue Spec
BSD0034	532.52	534.13	1.61	30.57	4.14	Blue Spec
BSD0034_W1	597.00	599.00	2.00	3.70	0.01	Blue Spec
BSD0035	608.60	617.50	8.90	4.93	1.48	Blue Spec
and	620.00	622.00	2.00	6.46	0.01	Blue Spec
BSD0035_W1	496.00	499.00	3.00	2.66	0.01	Blue Spec
and	587.00	594.00	7.00	3.03	0.05	Blue Spec
and	609.20	620.70	11.50	12.71	0.49	Blue Spec
including	614.20	614.70	0.50	78.10	0.16	Blue Spec
BSD0036	485.00	490.00	5.00	2.67	0.02	Blue Spec
and	506.00	506.55	0.55	4.74	0.01	Blue Spec
and	617.00	619.20	2.20	3.83	0.01	Blue Spec
and	622.60	625.70	3.10	3.07	0.01	Blue Spec
BSD0036_W1	486.50	487.50	1.00	3.02	0.32	Blue Spec
and	490.00	493.00	3.00	2.91	0.02	Blue Spec
and	565.00	567.00	2.00	2.86	0.03	Blue Spec
and	695.10	697.10	2.00	4.94	0.46	Blue Spec
and	714.10	717.60	3.50	112.16	10.55	Blue Spec
BSD0036_W2	501.33	502.90	1.57	3.32	0.01	Blue Spec
and	572.00	573.95	1.95	17.49	0.80	Blue Spec
and	739.75	740.65	0.90	13.98	0.07	Blue Spec
BSD0040	715.83	718.80	2.97	3.08	0.01	Blue Spec
BSD0041	792.00	792.38	0.38	7.95	0.08	Blue Spec
BSD0042_W1	414.10	415.95	1.85	18.99	0.01	Blue Spec
and	419.25	424.47	5.22	4.05	0.01	Blue Spec
BSD0044_W1	413.00	414.85	1.85	17.61	0.11	Blue Spec
including	413.95	414.85	0.90	34.90	0.19	Blue Spec
and	416.55	417.95	1.40	3.21	0.02	Blue Spec
and	420.60	421.77	1.17	3.16	0.02	Blue Spec
BSS_177	121.00	125.00	4.00	4.50	0.01	Blue Spec
BSS_178	42.00	44.00	2.00	3.70	0.01	Blue Spec
BSS_184	72.00	76.00	4.00	6.00	0.00	Orange Spec
DDH_101	370.94	374.45	3.51	98.34	8.17	Blue Spec
DDH_101-D	364.85	372.72	7.87	11.08	2.16	Blue Spec
including	371.63	372.72	1.09	43.47	4.30	Blue Spec
DDH_103-D	305.71	306.93	1.22	5.60	0.00	Blue Spec
and	309.98	313.41	3.43	69.64	1.25	Blue Spec
including	310.59	311.68	1.09	201.43	3.20	Blue Spec
DDH_104	453.85	454.76	0.91	3.32	0.00	Blue Spec
DDH_106	233.48	252.23	18.75	30.84	2.83	Blue Spec
including	240.79	243.23	2.44	73.40	11.75	Blue Spec
DDH_21	285.70	293.37	7.67	96.09	4.02	Blue Spec
including	290.47	292.30	1.83	255.62	16.37	Blue Spec
DDH_22	323.16	329.97	6.81	42.11	17.01	Blue Spec
including	328.85	329.97	1.12	127.04	25.40	Blue Spec
DDH_505	0.99	1.60	0.61	21.74	9.38	Blue Spec
DDH_506	0.00	7.87	7.87	4.81	1.61	Blue Spec
including	4.63	5.37	0.74	30.00	3.89	Blue Spec
DDH_507	7.70	19.21	11.51	5.20	0.16	Blue Spec
DDH_507-D1	25.75	30.50	4.75	15.42	1.65	Blue Spec
DDH_507-D4	71.75	76.75	5.00	20.72	9.48	Blue Spec
DDH_507-U1	23.60	38.75	15.15	5.99	1.37	Blue Spec
including	35.05	35.55	0.50	37.60	12.95	Blue Spec
DDH_507-U3	26.75	27.00	0.25	30.00	0.86	Blue Spec
and	52.50	54.25	1.75	15.71	2.55	Blue Spec
DDH_508	6.90	8.40	1.50	18.44	2.61	Blue Spec
and	11.40	11.70	0.30	30.00	1.00	Blue Spec
and	18.90	24.30	5.40	15.76	4.27	Blue Spec
DDH_509	38.70	39.90	1.20	12.25	4.73	Blue Spec
DDH_510	1.80	3.00	1.20	21.64	0.55	Blue Spec
including	2.70	3.00	0.30	52.00	0.04	Blue Spec
and	7.10	7.40	0.30	7.00	0.02	Blue Spec
DDH_512	22.60	24.40	1.80	18.87	6.93	Blue Spec
DDH_512-U2	40.25	42.00	1.75	17.34	4.02	Blue Spec
including	40.50	41.00	0.50	28.00	13.55	Blue Spec
DDH_515	2.25	4.75	2.50	13.72	8.72	Blue Spec
DDH_516	25.50	26.25	0.75	11.53	4.51	Blue Spec
DDH_517	3.10	9.10	6.00	4.77	0.61	Blue Spec
DDH_518	117.80	119.05	1.25	29.60	4.79	Blue Spec
DDH_520	124.47	125.61	1.14	68.44	15.94	Blue Spec
including	124.97	125.22	0.25	204.50	30.07	Blue Spec
DDH_522	125.75	126.75	1.00	4.08	0.02	Blue Spec
DDH_523	128.30	145.60	17.30	21.00	1.49	Blue Spec
including	128.30	128.50	0.20	258.98	19.00	Blue Spec
MP0003	3.00	16.00	13.00	5.26	0.00	Blue Spec
MP0004	15.00	16.00	1.00	3.42	0.00	Blue Spec
MP0005	5.00	13.00	8.00	7.26	0.00	Blue Spec
MP0006	3.00	14.00	11.00	5.61	0.00	Blue Spec
MP0007	1.00	13.00	12.00	8.85	0.00	Blue Spec
MP0008	5.00	15.00	10.00	17.09	0.00	Blue Spec
and	18.00	25.00	7.00	6.43	0.00	Blue Spec
including	8.00	9.00	1.00	41.20	0.00	Blue Spec
MP0009	9.00	28.00	19.00	6.37	0.00	Blue Spec
MP0010	3.00	4.00	1.00	4.46	0.00	Blue Spec
MP0026	24.00	39.00	15.00	3.43	0.00	Blue Spec
MP0030	25.00	30.00	5.00	3.72	0.00	Blue Spec
RCPH0021	12.00	13.00	1.00	6.76	0.02	Blue Spec
BSD0037	232.68	233.84	1.16	5.26	0.01	Red Spec
BSP0174	88.00	89.00	1.00	4.23	1.37	Red Spec
BSP0177	137.00	143.00	6.00	2.52	0.00	Red Spec
and	149.00	160.00	11.00	7.53	0.01	Red Spec
BSP0178	177.00	179.00	2.00	4.89	0.01	Red Spec
BSP0264	58.00	64.00	6.00	2.43	0.01	Red Spec
and	68.00	70.00	2.00	2.78	0.01	Red Spec
and	92.00	105.00	13.00	2.11	0.01	Red Spec
and	121.00	129.00	8.00	7.43	0.01	Red Spec
and	136.00	138.00	2.00	4.08	0.01	Red Spec
BSP0266	23.00	27.00	4.00	4.53	0.00	Red Spec
BSP0273	179.00	180.00	1.00	3.57	0.01	Blue Spec
BSP0275	117.00	118.00	1.00	3.86	0.01	Blue Spec
and	124.00	126.00	2.00	3.10	0.01	Blue Spec
BSP0279	148.00	151.00	3.00	4.18	0.01	Red Spec
BSP0280	182.00	183.00	1.00	3.13	0.01	Blue Spec
BSP0303	91.00	92.00	1.00	4.40	0.01	Blue Spec
BSP0305	145.00	148.00	3.00	3.00	0.01	Blue Spec
BSP0312	0.00	8.00	8.00	2.21	0.08	Blue Spec
BSP0316	17.00	19.00	2.00	3.09	0.01	Blue Spec
BSD0001	295.00	296.00	1.00	11.85	0.04	Golden Spec
and	299.60	300.50	0.90	100.50	16.85	Golden Spec
BSD0002	342.00	343.00	1.00	4.06	0.01	Golden Spec
and	343.32	344.00	0.68	214.00	0.06	Golden Spec
BSD0007	292.00	292.50	0.50	7.44	0.01	Golden Spec
BSD0008	134.94	136.26	1.32	28.91	1.15	Golden Spec
BSD0009	228.00	229.00	1.00	51.00	3.10	Golden Spec
BSD0010	188.33	189.23	0.90	61.35	20.28	Golden Spec
BSD0011	190.30	193.10	2.80	77.59	7.22	Golden Spec
BSD0012	223.90	226.20	2.30	75.51	7.66	Golden Spec
BSD0013	229.88	230.55	0.67	42.90	0.02	Golden Spec
BSD0014	153.25	155.00	1.75	18.31	0.06	Golden Spec
BSD0015	233.00	238.90	5.90	2.99	0.03	Golden Spec
BSD0016	148.00	151.65	3.65	6.84	0.36	Golden Spec
BSD0021	186.00	189.00	3.00	1.71	0.03	Golden Spec
BSS_035	16.00	20.00	4.00	5.74	0.01	Golden Spec
BSS_038	22.00	24.00	2.00	8.71	0.06	Golden Spec
BSS_041	14.00	16.00	2.00	31.15	10.21	Golden Spec
BSS_048	0.00	5.00	5.00	14.00	3.67	Golden Spec
including	3.00	4.00	1.00	47.30	12.85	Golden Spec
BSS_050	14.00	16.00	2.00	10.19	0.34	Golden Spec
BSS_153	49.00	50.00	1.00	4.62	0.02	Golden Spec
BSS_158	83.00	86.00	3.00	5.26	0.03	Golden Spec
GS_15	51.00	53.00	2.00	6.66	0.29	Golden Spec
GS_16	53.00	54.00	1.00	4.13	0.04	Golden Spec
GS_20	129.00	131.00	2.00	35.15	0.20	Golden Spec
GSI_001	167.12	168.25	1.13	6.88	0.01	Golden Spec
GSI_003	222.70	224.80	2.10	17.09	5.53	Golden Spec
including	222.70	223.57	0.87	33.32	10.24	Golden Spec
GSI_004	152.50	158.97	6.47	34.21	6.77	Golden Spec
including	155.60	155.97	0.37	98.10	10.80	Golden Spec
GSI_006	166.27	166.80	0.53	20.40	0.04	Golden Spec
GSI_007	184.36	186.46	2.10	20.09	0.04	Golden Spec
GSI_009	214.60	215.40	0.80	17.33	0.20	Golden Spec
GSI_014	150.16	151.75	1.59	12.17	0.02	Golden Spec
including	151.34	151.75	0.41	40.10	0.02	Golden Spec
BSP0148	63.00	64.00	1.00	6.87	0.00	Orange Spec
BSP0168	65.00	66.00	1.00	9.04	1.85	Golden Spec
BSS_185	40.00	42.00	2.00	9.63	0.01	Orange Spec
BSS_191	33.00	46.00	13.00	5.66	0.00	Orange Spec
BSD0024	157.00	158.00	1.00	2.08	0.02	Green Spec
and	163.10	165.12	2.02	9.90	0.27	Green Spec
BSD0025	111.00	114.00	3.00	8.36	0.01	Green Spec
BSP0023	10.00	12.00	2.00	3.06	0.01	Blue Spec
and	23.00	28.00	5.00	23.25	0.99	Blue Spec
including	23.00	26.00	3.00	37.23	1.52	Blue Spec
BSP0075	35.00	42.00	7.00	11.60	3.66	Green Spec
BSP0079	50.00	52.00	2.00	8.14	0.04	Orange Spec
BSP0088	66.00	70.00	4.00	6.72	0.02	Green Spec
BSP0089	99.00	107.00	8.00	14.74	0.06	Green Spec
BSP0109	150.00	163.00	13.00	13.78	1.33	Green Spec
including	150.00	155.00	5.00	32.13	3.35	Green Spec
BSP0116	156.00	158.00	2.00	6.40	0.03	Golden Spec
BSP0118	47.00	52.00	5.00	12.13	5.59	Green Spec
including	47.00	49.00	2.00	25.55	6.40	Green Spec
BSP0119	59.00	61.00	2.00	7.10	0.01	Green Spec
BSP0128	28.00	30.00	2.00	20.10	4.95	Green Spec
BSP0129	38.00	50.00	12.00	6.85	0.50	Green Spec
including	38.00	40.00	2.00	27.60	1.36	Green Spec
BSD0038_W1	474.60	475.38	0.78	9.44	0.01	Blue Spec
and	491.55	492.00	0.45	7.32	0.02	Blue Spec
BSD0039	721.25	723.47	2.22	3.76	0.74	Blue Spec
and	782.40	783.64	1.24	15.82	4.02	Blue Spec
and	837.50	839.50	2.00	3.27	0.01	Blue Spec
BSP0061	18.00	21.00	3.00	2.11	0.05	Blue Spec
BSI_008	426.00	431.00	5.00	53.32	1.66	Blue Spec
BSI_011	440.46	442.70	2.24	29.45	5.03	Blue Spec
BSI_012	491.87	492.40	0.53	25.50	0.02	Blue Spec
BSP0040	82.00	84.00	2.00	3.59	0.03	Blue Spec
BSP0041	117.00	118.00	1.00	3.98	0.02	Blue Spec
BSP0047	9.00	138.00	8.00	5.05	2.45	Golden Spec
BSP0090	0.00	3.00	3.00	1.94	0.03	Golden Spec
and	53.00	56.00	3.00	3.23	0.03	Golden Spec
BSP0095	87.00	88.00	1.00	10.60	0.28	Golden Spec
Drill intervals in this table are historic and date from the early 1980s to 2012. Some of these intercepts are in or near mine workings dating to the late 1980s and early 1990s. Some, but not all of these drill results form the basis for the JORC 2012 compliant resource estimate announced by Northwest Resources Ltd in a news release dated Sept. 30, 2013 and in the mineral resource statement issued by Northwest on the same date (the "Northwest Disclosure Documents"). This table provides readers with anoverview of the widths, grades and depths of historic drill intercepts encountered on the Blue Spec property. The historical estimate disclosed in the Northwest Disclosure Documents are stated to have been reported in accordance with the 2012 edition of the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves (2012 JORC Code), which are consistent with sections 1.2 and 1.3 of NI 43-101. For the key assumptions, parameters, and methods used to prepare these estimates, please refer to the Northwest Disclosure Documents which are available on Northwest's website (www.nw-resources.com.au). These are the most updated estimates and data available regarding the Blue Spec and Gold Spec deposits and, as such, no work needs to be done at this point in time to upgrade or verify the estimates. Novo is unaware of the existence of any technical report prepared in connection with the technical information contained in the Northwest Disclosure Documents. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Novo is not treating the historical estimate as current mineral resources or mineral reserves.