Mr. Michael Spreadborough reports

EXPLORATION UPDATE FOCUSED ON DISCOVERY SUCCESS IN 2023

Novo Resources Corp. has provided an update on exploration efforts across its prospective project portfolio, with an 8,000-metre drilling program planned for the second half of (H2) 2023 across key Pilbara prospects and Belltopper in Victoria (1).

Highlights:

• 8,000 metres of drilling planned for the second half (H2) of 2023 across key Pilbara prospects and Belltopper gold project in Victoria (1). Drill programs are expected to support future shareholder value and planned Australian Securities Exchange dual listing process, which remains proposed for Q3 2023;
• Recent $10-million (Australian) cornerstone investment and earn-in and joint venture (Egina JV) (2) with De Grey Mining Ltd. highlights exciting future of Novo's Becher project. The Egina JV introduces De Grey's proven exploration success and accelerates exploration at Becher. It also allows Novo to advance other prospective areas within its sizeable exploration portfolio;
• Novo's flagship Becher project is located in the northern section of the Egina gold camp, 28 kilometres (km) along trend from De Grey's 11.7-million-ounce-gold (oz Au) (JORC 2012) (3) Pilbara gold project;
• Novo completed 2,540 air core (AC) holes for over 61,400 metres (m) at Becher to the end of June, 2023. Results have delivered promising gold and multielement assays and defined a large area of gold mineralization across five square kilometres (km), with a total of 109 intercepts more than one g*m Au reported from drilling to date;
• New results from Becher continue to deliver positive intercepts including (89 holes pending assay results):
  • Three m at 2.9 grams per tonne (g/t) Au from 66 m in F2140;
  • Six m at 0.45 g/t Au from 30 m and six m at 0.51 g/t Au from 60 m in F2137;
  • Three m at 0.94 g/t Au from 12 m and 12 m at 0.25 g/t Au from 30 m, including three m at 0.36 g/t Au from 36 m in F2253;
  • Three m at 0.88 g/t Au from 21 m in F2136;
  • Six m at 0.37 g/t Au from 33 m in F2247;
  • Three m at 0.64 g/t Au from 12 m in F2299;
  • Three m at 0.61 g/t Au from 9 m in F2150;
• Nunyerry North, located in the southern section of the Egina gold camp, is the next target being progressed as part of Novo's aggressive Pilbara exploration focus. Novo's maiden drill program, testing the extensive coherent high-tenor soil anomaly, is planned for H2 20231;
• Balla Balla, an emerging project in the northern Pilbara, covers an area over 1,200 square km focused on the major Sholl shear structural corridor. Reconnaissance drilling is planned in H2 2023 (1);
• Novo is developing targets around recently identified gold-anomalous intrusions at Bamboo-Strattons projects in the East Pilbara near Marble Bar, where reverse circulation (RC) drilling is planned for H2 2023 (1);
• Priority targets emerging at the Belltopper project in Victoria, following a detailed review and synthesis of recent and historic exploration data. Diamond drilling is scheduled for H2 2023 (1);
• Novo continues to liaise with Pilbara traditional owners across whose land the company explores and operates to implement the requirements of the new Western Australian Aboriginal Cultural Heritage Act 2021, with minimal delays to Tier 1 activities as defined in the act (fieldwork such as surveying, mapping, soil and stream sampling, and other low-impact activities);
• Strategic review of Nullagine gold project to assess value maximizing options for shareholders (which may include divestment or joint ventures) continuing, with appointment of adviser progressing.

(1) All planned exploration programs are subject to exploration results and financing.

(2) Refer to the company's news releases dated June 21, 2023, and June 28, 2023.

(3) De Grey has reported that its Hemi deposit at the Pilbara gold project comprises measured mineral resources of 4.7 million t at 1.7 g/t Au for 265,000 oz Au, indicated mineral resources of 184.1 million t at 1.3 g/t Au for 7,798,000 oz Au and inferred mineral resources of 89.2 million t at 1.3 g/t Au for 3,684,000 oz Au, as those categories are defined in the JORC Code (as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects). Refer to De Grey's public disclosure record for further details. No assurance can be given that a similar or any mineral resource estimate will be determined at Novo's Becher project.

Commenting on the H2 2023 drill program, Novo executive co-chairman and acting chief executive officer Mike Spreadborough said: "The first half of 2023 has been a transformative period for Novo, highlighted by our earn-in and joint venture agreement at our flagship Becher project with leading Western Australian gold developer De Grey, who we also welcomed as our largest shareholder through a cornerstone investment of $10-million (Australian).

"We are set for an exciting and busy second half. Importantly, our highly prospective 10,500-square-kilometre exploration portfolio in the Pilbara and Belltopper in Victoria provides Novo with a strong platform for growth and we have several exploration programs planned to commence across key targets.

"We are also progressing our ASX listing plans and remain on track to hit the boards in Q3 2023. The move to dual list on the ASX is the logical next step in our growth plans, considering local investor appetite for mining and exploration companies with projects located in Australia. We believe the listing would provide significant benefits to Novo, including increased liquidity, access to potential new sources of equity, and attracting institutional investment and equity research coverage as we seek to deliver on our growth strategy."

Successful exploration work in the first half of 2023 at the company's flagship Becher project led to the completion of an earn-in and joint venture arrangement with De Grey (Egina JV), which includes newly defined targets at Irvine, Heckmair and Whillans.

Pursuant to the agreement, De Grey can spend $25-million (Australian) over four years to earn a 50-per-cent interest in the Egina JV. Becher is located just south of De Grey's 11.7-million-ounce (JORC 2012) (3) Pilbara gold project. In addition to the Egina JV, De Grey separately completed a cornerstone investment of $10-million (Australian) in Novo for an approximately 11.6-per-cent postfinancing undiluted interest and became the company's largest single shareholder (2).

Novo's Pilbara exploration focus has moved to the Nunyerry North project, located in the south of the Egina gold camp. The company has finalized drill program design and planning for a maiden drill program, which is set to commence in H2 2023 (1).

In addition to drilling at Nunyerry North, Novo plans to complete reconnaissance drill programs to test structurally controlled and intrusion-hosted gold mineralization at the Balla Balla project in the West Pilbara and at Bamboo-Strattons near Marble Bar (1).

Priority targets are emerging at Belltopper, located in the Bendigo tectonic zone, Victoria, following detailed review and synthesis of recent and historic exploration data. Diamond drilling is scheduled for H2 2023 (1).

The Becher project (4)

Major Western Australian gold developer De Grey can spend up to $25-million (Australian) on exploration at Becher and adjacent tenements, encompassing approximately 1,000 square km, pursuant to the Egina JV.

Subject to a minimum commitment of $7-million (Australian) within 18 months, De Grey will earn a 50-per-cent direct stake in the relevant tenements by spending $25-million (Australian) on exploration within four years. Once De Grey spends $25-million (Australian), the 50/50 Egina JV will be established. De Grey will manage all exploration under the earn-in and become the manager of the Egina JV once established.

Becher tenements are positioned adjacent to De Grey's 11.7-million-ounce-gold (JORC 2012) (3) Pilbara gold project on which De Grey has reported that it expects to release a definitive feasibility study in Q3 2023. Novo's exploration program to date at Becher has displayed geological indicators required for potential discovery success.

(4) De Grey has reported that, at the Pilbara gold project, its: (i) Mount Berghaus deposit comprises indicated mineral resources of one million t at 1.7 g/t Au for 53,000 oz Au and inferred mineral resources of 3.4 million t at 1.2 g/t Au for 128,000 oz Au; (ii) Wingina Well deposit comprises measured mineral resources of 3.1 million t at 1.7 g/t Au for 173,000 oz Au, indicated mineral resources of one million t at 1.4 g/t Au for 43,000 oz Au, and inferred mineral resources of 1.4 million t at 1.6 g/t Au for 72,000 oz Au; (iii) Toweranna open-pit deposit comprises indicated mineral resources of 8.3 million t at 1.6 g/t Au for 418,000 oz Au and inferred mineral resources of 2.5 million t at 1.5 g/t Au for 120,000 oz Au; (iv) Toweranna underground deposit comprises indicated mineral resources of 100,000 t at 3.0 g/t Au for 11,000 oz Au and inferred mineral resources of 500,000 t at 2.9 g/t Au for 49,000 oz Au; (v) Mallina deposit comprises indicated mineral resources of 1.6 million t at 1.2 g/t Au for 64,000 oz Au and inferred mineral resources of 5.1 million t at 1.5 g/t Au for 243,000 oz Au; (vi) Withnell open-pit deposit comprises measured mineral resources of 1.3 million t at 1.5 g/t Au for 62,000 oz Au, indicated mineral resources of three million t at 1.8 g/t Au for 178,000 oz Au and inferred mineral resources of 700,000 t at 2.0 g/t Au for 43,000 oz Au; (vii) Withnell underground deposit comprises indicated mineral resources of 100,000 t at 4.3 g/t Au for 16,000 oz Au and inferred mineral resources of 2.4 million t at 3.9 g/t Au for 301,000 oz Au; and (viii) Hemi deposit comprises indicated mineral resources of 165.7 million t at 1.3 g/t Au for 6,876,000 oz Au and inferred mineral resources of 70.2 million t at 1.2 g/t Au for 2,632,000 oz Au, as those categories are defined in the JORC Code (as defined in NI 43-101). Refer to De Grey's public disclosure record for further details. No assurance can be given that a similar or any mineral resource estimate will be determined at Novo's Becher project.

Becher drilling update

The Becher project covers an area approximately 20 square km in the north of the 100-per-cent-Novo-owned E47/3673 exploration tenement. The area is characterized by shallow cover overlying the prospective Mallina basin.

Novo commenced AC drilling in September, 2022, testing a series of interpreted structural corridors and intrusion-related targets. In 10 months, which included a three-month break due to the Pilbara cyclone season, the company completed 2,540 holes for approximately 61,400 m, with 89 holes pending assay results. The drill program identified 207 intercepts more than 0.5 g*m Au, including 109 intercepts more than one g*m Au, reported from the results received to date, a standout result for reconnaissance AC drilling.

Novo's 2022 drill program proved to be extremely promising across several fronts:

• The location and tenor of gold assay results from drill sampling provided confidence in the fertility of the interpreted regional structural corridors.
• Multielement analysis of bottom-of-hole AC drill samples revealed intrusion-related sanukitoid signatures, which are known hosts to gold mineralization elsewhere in the district.
• The distribution of pathfinder elements such as arsenic, antimony and tungsten (among others) defined vectors that have helped finesse understanding of the controls on gold mineralization.
• The cover is shallow (generally less than 10 m) and is less consequential than expected.

These findings had considerable influence in targeting and prioritizing the 2023 drill programs. The significant gold and multielement assay results identified multiple targets, including a large, priority area of anomalism across approximately five square km at Becher across the Heckmair, Irvine and Whillans prospects. Both geological setting and pathfinder multielement assays appear favourable and gold has been identified in varied host rocks, including hornblende-diorite and quartz-diorite intrusions, sedimentary rocks and quartz veins.

Drilling at Becher was completed by Novo in June, 2023. New results from this program include:

• Three m at 2.9 g/t Au from 66 m in F2140;
• Six m at 0.45 g/t Au from 30 m and six m at 0.51 g/t Au from 60 m in F2137;
• Three m at 0.94 g/t Au from 12 m and 12 m at 0.25 g/t Au from 30 m, including three m at 0.36 g/t Au from 36 m in F2253;
• Three m at 0.88 g/t Au from 21 m in F2136;
• Six m at 0.37 g/t Au from 33 m in F2247;
• Six m at 0.2 g/t Au from 21 m and three m at 0.64 g/t Au from 63 m in F2138;
• Three m at 0.64 g/t Au from 12 m in F2299;
• Three m at 0.61 g/t Au from nine m in F2150;
• Six m at 0.26 g/t Au from 15 m in F2143.

Refer to the attached tables for a complete list of assay results. True widths from AC drilling cannot be estimated at this time.

Recently returned results confirm gold mineralization along mineralized structures that trend northeast-southwest between the Heckmair and Whillans prospects, with several intercepts displaying strong kaolinite-sericite alteration of the basement sedimentary rocks and distinctive dark grey coarsely crystalline quartz veining.

Gold mineralization has also been confirmed at the intersection of the northeast-southwest-trending northern Irvine Shear and southeast contact of the Heckmair hornblende diorite sanukitoid intrusion and surrounding mudstone and sandstone lithologies. This provides further vectoring to a triangle wedge of increased gold anomalism on the margins of these two prospects.

Drilling at Becher was completed by Novo on July 29, 2023. All samples have been dispatched to Perth and are now with Intertek Genalysis for analysis. A total of 29,723 metres in 1,127 holes have been completed in the 2.5-month 2023 AC drilling campaign.

Next steps

Exploration programs and overall management of the Egina JV area were transitioned across to De Grey on July 1, 2023. An update on the planned exploration program at Becher to be executed by De Grey is expected to be released before the end Q3 2023.

Nunyerry North drill update (E47/2973 -- Novo 70 per cent/Creasy Group 30 per cent)

The Nunyerry North prospect is located within the Egina gold camp, approximately 80 km southwest of Becher, and is the next drill target being advanced as part of Novo's aggressive Pilbara exploration program.

The geology of the Nunyerry North target area includes sheeted quartz vein-related gold mineralization within a sequence of ultramafic komatiites and mafic rocks, juxtaposed by regional shears and offset faults. Exploration programs completed to date include 40-by-20-metre-spaced, minus-80-mesh grid soil sampling, rock chip sampling and detailed mapping.

The high-order gold soil anomaly at Nunyerry North extends over 1.4 km strike with a central coherent more-than-100-part-per-billion-gold (ppb) anomaly extending over 640 m strike, with a second 1.3-kilometre-long soil anomaly at more than 30 ppb gold defined south of the main target. Twenty soil samples returned more than one g/t Au, including 2.3 g/t Au and 2.13 g/t Au (5). Rock chip sampling by Novo has yielded peak values of 30.3 g/t Au, 21.1 g/t Au and 19 g/t Au in 2021 (5).

Nunyerry North was identified by the Creasy Group in 2016, with fine gold panned in several streams. In 2017, the area was covered with 160-by-80-metre-spaced soil sampling defining a more than 300 ppb Au anomaly over 320 m over the main target (5).

Heritage clearances have recently been completed for Nunyerry North, allowing final drill program design and planning for Novo's maiden drill program, which is set to commence in H2 2023.

(5) Refer to the company's news release dated Feb. 17, 2022.

Balla Balla project (Novo 100 per cent)

Balla Balla is an emerging exploration target area covering an area over 1,200 square km located in the northwestern Pilbara. The interpreted gold targets lie along potentially fertile structural corridors under cover, centred on the Sholl shear corridor and associated structures. Though very little systematic prior exploration for gold has been completed, several small gold historic workings are present. The project area is prospective for intrusion-related gold mineralization in addition to structurally hosted gold. Interpretation and targeting reviews are under way using high-resolution geophysical and satellite data sets and applying learnings from Becher, with several priority target areas defined, including Walter Well, Jam Well and Ramquarry.

Planning for heritage surveys and reconnaissance AC drilling under cover, testing current structural and intrusion-related targets, is continuing. Several pegged exploration licences within the Balla Balla project are in the final stages of the approval process and are expected to be granted in H2 2023.

Extensive historical data amalgamation and evaluation continue and will be followed by early groundwork focusing on first-pass regional exploration around the existing Destivelle prospect and the newly defined Johnson Well East, Christmas Well and Woolshed Well prospects.

South Pilbara project

Initial reconnaissance mapping and surface sampling programs at the Rocklea Dome and Wyloo Dome projects in the southern Pilbara continued during 2022/2023. Numerous stream sediment gold and multielement anomalies require follow-up work.

Follow-up exploration on a broad gold-antimony stream sediment anomaly defined in 2021 in the southeastern part of the Wyloo tenement has identified a zone of quartz sulphide veining rich in base metals and highly anomalous silver. A sulphide-rich east-northeast-trending quartz vein, outcropping over 150 m strike and in a zone up to five m thick trends under cover in both directions. Strong kaolinite sericite alteration occurs proximal to the vein (10 m). Samples reported peak results of up to 0.52 g/t Au, 387 g/t Ag, 5 per cent Pb, 1.6 per cent Zn and 2.4 per cent Cu (see attached table). Follow-up mapping and rock chip sampling will be conducted.

First-pass RC (reverse circulation) drilling at the Bellary Dome project, South Pilbara, was recently completed, testing three distinct targets at Catia, Catia East and Edney's Find. Sporadic intervals of gold mineralization were defined at Catia, with a peak interval of two m at 2.72 g/t Au from eight m. Six holes for 312 m were drilled at the Edney's Find conglomerate, where peak gold values from trench rock chip samples in 2020 returned 36.4 parts per million (ppm) Au and numerous nuggets were located at surface. Drilling intersected channelized buckshot (pyritic) conglomerate on a major unconformity with a peak result of one m at 2.3 g/t Au. The Edney's Find target is open to the west and southwest. The project is under review, with no further drilling planned at this time (6).

(6) Refer to the company's news release dated June 12, 2023.

East Pilbara -- Bamboo-Strattons intrusion-related gold

The Bamboo and Stratton projects are located approximately 60 kilometres east of Marble Bar in the East Pilbara district of Western Australia. Regional reconnaissance exploration programs have been completed in 2022/2023 and identified a potentially new and unusual style of intrusion-related gold mineralization.

A series of 1.73 Ga Bridget Suite intrusive rocks are recognized along a more-than-150-kilometre north-northwest trend within these combined projects, with several intrusions observed to outcrop or subcrop on Novo tenure. Whole rock geochemical analysis conducted by Novo indicates prospectivity for intrusion-related gold mineralization.

The Bridget Suite intrusions range in composition from hornblende monzogranite to quartz monzonite and associated hornblende porphyry dikes and, as such, they postdate the mineralization events responsible for gold deposits in the Mosquito Creek and Mallina basins.

Novo sampling has returned anomalous gold results in soil sampling, in proximity to one or more of these intrusions that have intruded the otherwise unmineralized upper Fortescue sequences, suggesting surface mineralization is related to their emplacement.

Additional sampling and mapping programs are currently under way and is expected to culminate in an RC drilling program targeting the most prospective areas.

Quartz Hill JV (lithium) update

Liatam Mining Pty. Ltd. has the right to earn an 80-per-cent interest in battery mineral rights in the Quartz Hill project by December, 2024 (7).

Liatam is the Australian-based manager of the Bald Hill lithium and tantalum mine in Western Australia and Novo's battery minerals joint venture partner at the Quartz Hill project in the Mosquito Creek basin, Western Australia. Liatam also made a strategic investment of $5-million (Canadian) in Novo.

(7) Refer to the company's news release dated Dec. 15, 2022.

In February of 2023, Liatam announced its exploration plan for 20238 and has since completed orientation soil sampling surveys and regional sampling of the Quartz Hill pegmatite fields. A series of field-based mapping evaluations have been conducted to assess the effectiveness of, and gather learnings from, previous explorers mapping, mineral identification and rock chip sampling programs. Detailed geological mapping and rock chip sampling are scheduled to continue concurrent with soil sampling to map pegmatite outcrop distribution, geometry, mineralogy and zonation patterns.

Liatam advises that its exploration plan is on track to meet the $1.5-million (Australian) earn-in requirement, with possible drill testing following heritage and environmental approvals.

Belltopper project -- Victoria (Novo 100 per cent)

A focused approach at synthesizing multidisciplinary exploration data at the Belltopper gold project, Victoria, has highlighted several high-priority target areas. Drilling, mapping and surface sampling, ground and airborne geophysics (IP, magnetics and gravity), structural framework, geochemical studies, and extensive historic mining data capture are now incorporated into the evolving 3-D prospectivity model at Belltopper which provides a solid framework for effective drill targeting.

(8) Refer to the company's news release dated Feb. 23, 2023.

Priority one targets at Belltopper typically comprise one or multiple fault-controlled epizonal high-grade Au and/or Au plus antimony (Sb) reefs accompanied by intense and widespread sericite-silica-clay alteration, commonly within zones of high structural complexity. Multielement geochemistry around several target reefs show elevated As-Bi-W (-Sn-Te) (arsenic-bismuth-tungsten (-antimony-tellurium)) and, coupled with occurrence of a gold-bearing late Devonian felsic intrusion, are likely indicative of input from intrusion-related gold (IRG) mineralization, further demonstrating the varied nature of potential mineralization-styles evident at Belltopper that also includes: shear/fault related (e.g. Stawell, Costerfield); anticline related (e.g. Fosterville); and potentially intrusion hosted styles (e.g. Woods Point, Walhalla).

To date, Novo has identified several exciting, high-priority new and existing targets that warrant additional or new drilling, including targets from the successful 2021-2022 diamond campaign that tested the Missing Link granite (e.g. MD17 returning 79.9 m at 0.26 g/t Au from 197 m); the Leven Star reef (e.g. MD16 returning 14 m at 6.1 g/t Au from 120 m and 10 m at 4.9 g/t Au from 173 m); the Queens Birthday reef (MD20 returning 3.1 m at 9.27 g/t Au from 400.9 m) and the O'Connors reef (MD19 returning nine m at 1.1 g/t Au from 257 m) (9).

All targets at Belltopper are currently in the process of being ranked and prioritized against criteria that include, but are not limited to, structural complexity (e.g. anticlines, reef intersections), alteration intensity, ME pathfinder zones, geophysical features (e.g. chargeability-resistivity anomalies, gravity gradients, magnetic anomalies), demonstrated high-grade gold (e.g. known reefs; shoot zones; historic production zones) and evidence for multiple styles that may indicate overprinting mineralization events.

(9) Refer to the company's news releases dated May 10, 2022, June 21, 2022, Sept. 6, 2022, and Nov. 18, 2022.

Diamond drilling at Belltopper is scheduled for H2 2023 and will focus on the top-ranked targets delivered from current targeting efforts and any statutory drilling on the highly prospective Leven Star reef.

Heritage update

The act, which came into effect on July 1, 2023, is designed to achieve equity in the relationship between aboriginal people, industry and government. The Western Australian exploration and mining industry has commenced implementation of the requirements of the act. Novo has long-standing good relations with the traditional owners across whose land it explores and operates, and to date Novo has experienced minimum delays with the progression of its exploration activities. At present, the majority of Novo's work is related to Tier 1 activities as defined in the act (10), including low impact activities involving field work such as surveying, mapping, soil and stream sampling. At Nunyerry North, where drilling activities are planned, all heritage surveys and approvals have been granted with the next step being to establish access for drilling equipment. Novo will continue to engage with traditional owners with regard to its activities in a manner that respects all aspects cultural heritage.

ASX dual listing

Novo has commenced a process to seek a dual listing on the ASX through an initial public offering (IPO), with further updates to follow. Argonaut has been appointed lead manager to the IPO (11).

A listing on the ASX would complement Novo's current Toronto Stock Exchange and OTCQX listings and is considered a logical next step given the location of Novo's assets.

Nullagine gold project strategic review

The Nullagine gold project (NGP) consists of the Mosquito Creek basin (MCB), the Beatons Creek project and the Golden Eagle processing facility. The NGP remains in care and maintenance following suspension of operations in September, 2022.

Novo has now commenced a strategic review of the Nullagine gold project to assess value maximizing options for shareholders, which may include divestment or joint ventures. The appointment of an adviser is being progressed.

Analytical methodology

Becher AC drilling

AC drilling is utilized as a first-pass technique testing for gold mineralization and anomalous pathfinder geochemistry in basement rocks under cover. The drilling methodology is rapid and low cost, with a low-impact footprint, enabling large systematic programs to be completed in a cost-effective and timely manner.

One-metre AC drill samples are collected from the drill rig through a cyclone and placed on the ground in piles for geological quantitative and qualitative logging. These piles are then speared as three-metre composites into a 500-gram Chrysos PhotonAssay jar. Some of the end of hole intervals are shorter than three metres depending on final hole depths. Jars are dispatched weekly to Intertek Genalysis in Perth, Western Australia, and analyzed for gold using Chrysos PhotonAssay (PHXR/AU01).

(10) Refer to the activity tiers and table publication prepared in accordance with the act by the government of Western Australia.

(11) Refer to the company's news release dated June 21, 2023.

QA/QC (quality assurance/quality control) procedures for the program include insertion of a certified blank approximately every 25 samples (four per hundred), a Chrysos PhotonAssay certified standard approximately every 50 samples (two per 100) and duplicate sampling (split of three m composite) at the rate of four per hundred. In addition, Intertek inserts Chrysos PhotonAssay certified standards at the rate of two per hundred.

There were no limitations to the verification process and all relevant data were verified by a qualified person as defined in National Instrument 43-101 by reviewing analytical procedures undertaken by Intertek.

Wyloo rock chip sampling

Rock chip samples were crushed and pulverized, then assayed for Au by four-acid digest and 50-gram charge fire assay FA50/OE and for 48-multielement using four acid digest -- MS finish (4A/MS). Two CRM standards were submitted with the batch.

QP (qualified person) statement

Karen (Kas) De Luca (MAIG) is the qualified person, as defined under NI 43-101, responsible for, and having reviewed and approved, the technical information contained in this news release other than information concerning De Grey's Pilbara gold project. Mrs. De Luca is Novo's general manager, exploration.

About Novo Resources Corp.

Novo explores and develops its prospective land package covering approximately 10,500 square km in the Pilbara region of Western Australia, along with the 22-square-kilometre Belltopper project in the Bendigo tectonic zone of Victoria, Australia. In addition to the company's primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its stakeholders.

We seek Safe Harbor.