Dr. Quinton Hennigh reports

NOVO SIGNS DEFINITIVE AGREEMENTS WITH ARTEMIS TO SECURE KEY LAND IN KARRATHA REGION, WESTERN AUSTRALIA

Further to its news release dated May 26, 2017, Novo Resources Corp. has signed definitive agreements to farm-in and joint venture gold rights with Artemis Resources Ltd., an Australian Securities Exchange-listed exploration and mining company, on Artemis's 1,256-square-kilometre exploration package in the Karratha region of Western Australia. Mineral holdings subject to this agreement are part of Novo's greater Karratha gold project that includes Novo's 100-per-cent landholdings, the Comet Well property and the recently announced option agreement covering the Pipeline property.

Novo will farm in to 50 per cent of gold (and other minerals necessarily mined with gold) in conglomerate- and/or paleoplacer-style mineralization in Artemis's tenements within 100 kilometres of the city of Karratha, including at Purdy's Reward. The gold rights do not include (i) gold disclosed in Artemis's existing (at May 18, 2017) JORC-compliant resources and reserves; or (ii) gold which is not within conglomerate- and/or paleoplacer-style mineralization; or (iii) minerals other than gold. Artemis's Mount Oscar tenement is excluded from the definitive agreements.

The farm-in commitment requires Novo to expend $2-million (Australian) on exploration within two years of satisfying conditions precedent in the definitive agreements. The relevant conditions precedent to the definitive agreements include Novo obtaining any necessary TSX Venture Exchange approvals for the issue of four million common shares to Artemis and the issue of those shares within 10 business days of the agreements being signed, subject to the receipt of TSX Venture Exchange approval. The shares will be subject to a 12-month hold period (inclusive of the required four-month statutory hold period). The definitive agreements are not subject to any other conditions.

The definitive agreements signed cover 38 tenements/tenement applications that are 100 per cent owned by Artemis. On completion of the farm-in commitment, three 50/50 joint ventures will be formed between Novo's subsidiary, Karratha Gold Pty. Ltd., and three subsidiaries of Artemis.

The joint ventures will be managed as one by Karratha Gold. Artemis and Novo will contribute to further exploration and mining of the gold rights on a 50/50 basis.

Further definitive agreements covering approximately 19 Artemis tenements/tenement applications that are already covered by third party joint venture or farm-in arrangements are expected to be signed in due course.

"We are very pleased to execute definitive agreements with Artemis," commented Dr. Quinton Hennigh, chairman, director and president of Novo Resources. "Novo and Artemis will soon be undertaking an aggressive program of large-diameter drilling and trenching at Purdy's Reward. Bulk sampling will be key to establishing grade of this very nuggety gold system, and Novo's extensive experience with similar mineralization at its Beatons Creek gold project in the East Pilbara will prove valuable. We look forward to working with Artemis to advance this exciting new gold discovery."

David Lenigas, executive chairman of Artemis Resources, commented, "Artemis is pleased to have expedited the definitive agreements which now enables Novo, with their demonstrated experience in exploring for this new style of gold mineralization in the Karratha area, to fast-track the exploration efforts on Purdy's Reward and progressively advance this exciting new project and other conglomerate gold targets on Artemis's tenements for the benefit of both company's shareholders."

About Novo Resources Corp.

Novo's focus is to explore and develop gold projects in the Pilbara region of Western Australia, and the company has built up a significant land package covering approximately 12,000 square kilometres. Novo also controls a 100-per-cent interest in approximately two square kilometres covering much of the Tuscarora gold-silver vein district in Nevada.

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