17:03:40 EDT Sat 21 May 2022
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Novo Resources Corp
Symbol NVO
Shares Issued 245,939,504
Close 2022-05-05 C$ 0.95
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Novo Resources begins exploration at Karratha

2022-05-06 11:09 ET - News Release

Mr. Michael Spreadborough reports


Novo Resources Corp. has commenced advanced geophysical exploration for battery metals and gold at the Karratha project in the West Pilbara region of Western Australia. Geophysical exploration is designed to follow up on multiple airborne electromagnetic (VTEM (versatile time-domain electromagnetic)) anomalies (previously defined in 2007 by Legend Mining Ltd.) which have not been drill tested, along with soil geochemical anomalies (including copper, nickel and cobalt) associated with the VTEM conductors, including Novo's Southcourt and Milburn prospects.

Dipole-dipole induced polarization ground geophysical surveys have commenced along the East Well/Bob's Well copper-zinc volcanogenic-hosted massive sulphide trend. The IP survey is targeting disseminated sulphide-rich alteration haloes and zinc-rich massive sulphide targets in zones of numerous exhalate chert and carbonate horizons along strike of the old Whundo Cu-Zn mine. IP will also be utilized to test several disseminated to blebby Ni-Cu sulphide zones, and sulphide related to gold-copper-cobalt targets at various prospects in the Andover area on Novo's Purdy's Reward North tenement E47/1745.

FLEM (fixed loop EM), scheduled to commence later in May, 2022, will target airborne VTEM anomalies on Novo's Purdy's Reward North tenement in the fertile Andover mafic-ultramafic intrusion, adjacent to Azure's Andover Ni-Cu-Co massive sulphide discovery. The FLEM surveys will be capable of delineating massive to submassive sulphides to depths of greater than 300 metres to provide targets for diamond drilling planned to commence in Q2/Q3 2022. Historical exploration review and recent mapping of five previously defined FLEM targets have advanced these targets to drill ready, awaiting heritage clearance.

The five targets previously defined by moving loop EM (MLEM) and fixed loop EM include the Milburn target in the Andover intrusion area, and the Bushmill, Roundstone, Banagher and Wexford targets in the Dingo/Bullock Hide and Maitland intrusions, adjacent to the Radio Hill Ni-Cu-Co mine. All EM targets are associated with fertile ultramafic and mafic intrusive rocks.

A 1,550-square-kilometre detailed low-level 50 m spaced airborne magnetic and radiometric survey is scheduled to commence in Q2/3 2022, including the East Well/Bob's Well VHMS trend, the Andover intrusion and orogenic gold targets in the Becher area southwest of De Grey's Hemi deposit.

Qualified person statement

Dr. Quinton Hennigh (PGeo) is the qualified person, as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is the non-executive co-chairman and a director of Novo.

About Novo Resources Corp.

Novo operates its flagship Beatons Creek gold project while exploring and developing its prospective land package covering approximately 12,500 square kilometres in the Pilbara region of Western Australia. In addition to the company's primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders.

We seek Safe Harbor.

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