04:53:47 EDT Mon 06 Apr 2020
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Novo Resources Corp
Symbol NVO
Shares Issued 178,870,048
Close 2020-03-24 C$ 1.92
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Novo signs heritage agreement with Yindjibarndi

2020-03-25 10:15 ET - News Release

Mr. Quinton Hennigh reports


Novo Resources Corp. has signed a heritage agreement with the Yindjibarndi Aboriginal Corp. covering 28 wholly owned exploration tenements across 1,492 square kilometres of Yindjibarndi country in Novo's prospective Pilbara exploration region. The agreement outlines processes by which Novo personnel and contractors, in consultation with the Yindjibarndi heritage manager, can evaluate heritage status of the landholding ahead of granting permission for ground-disturbing exploration activities to occur. The execution of the agreement is expected to facilitate the process of granting further exploration licence applications without undue delay. In the absence of such agreements, applications can often take up to 12 months to be granted whilst heritage agreements are negotiated.

"We are delighted with the efficiency in which YAC have engaged with Novo to execute this agreement, which we understand is due in part to the trust earned through Novo's reputation for responsible and respectful land care and community engagement practices," commented Rob Humphryson, director and chief executive officer of Novo. "This agreement complements the Ngarluma Aboriginal Corp. heritage agreement executed in July, 2018 (please see the company's news release dated July 10, 2018), and represents important progress in continuing to build upon the company's positive relationships with Pilbara aboriginal corporations and underpins the company's ongoing exploration efforts across the West Pilbara. We look forward to a fruitful and mutually beneficial partnership with the Yindjibarndi people as we continue to explore and develop our unique conglomerate gold mineralization across the Pilbara."

About Novo Resources Corp.

Novo's focus is primarily to explore and develop gold projects in the Pilbara region of Western Australia, and Novo has built up a significant land package covering approximately 13,000 square km with varying ownership interests. In addition to the company's primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders.

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