Mr. Mike Spreadborough reports

NOVO COMPLETES OVERSUBSCRIBED A$7.5M IPO

Novo Resources Corp. has completed its initial public offering of a $7.5-million (Australian) raise, before costs, through the issue of 37.5 million common shares (settled in the form of Chess depositary interests (CDIs) at 20 Australian cents per CDI), which was led by Argonaut PCF. The CDIs are issued in the ratio of 1 CDI for 1 common share. The IPO was open to residents of Australia only.

The raising was conducted ahead of commencement of trading and dual listing on the Australian Securities Exchange. The company is on track to complete its ASX listing, with trading in the company's securities (under the ticker code ASX: NVO) currently scheduled to commence at 11 a.m. on Sept. 11 Australian Eastern Standard Time subject to the company satisfying the remaining conditions to admission and quotation.

About Novo Resources Corp.

Novo Resources explores and develops its prospective land package covering approximately 10,500 square kilometres 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 Resources seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its stakeholders.