QP STATEMENTMrs. Karen (Kas) De Luca (MAIG), 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. Mrs De Luca is
Novo’s General Manager Exploration.
JORC COMPLIANCE STATEMENTS
New exploration resultsThe information in this
news release that relates to exploration results at the John Bull Project is based on information compiled by Mrs De Luca, who is a full-time employee of
Novo Resources Corp. Mrs De Luca is a Competent Person who is a member of the Australian Institute of Geoscientists. Mrs De Luca has sufficient experience that is relevant to the style of mineralisation and the type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves'. Mrs De Luca consents to the inclusion in the report of the matters based on her information in the form and context in which it appears.
Previously reported exploration resultsThe information in this
news release that relates to previously reported Exploration Results from
Novo’s NSW Gold Portfolio is extracted from
Novo's ASX announcement entitled
Novo Strengthens Portfolio with Two High-Grade Gold Projects in NSW, Australia released to ASX on 13 December 2024 which is available to view at
www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the competent persons findings are presented have not been materially modified from the original market announcement.
Previously reported exploration target - BelltopperThe information in this
news release that relates to the previously reported exploration target at Belltopper is extracted from
Novo’s ASX announcement entitled Belltopper Mineralisation Modelling Defines Prospectivity released to ASX on 25 September 2024 which is available to view at
www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information in the original market announcement and that the form and context in which the Competent Person’s findings are presented has not been materially modified from the original market announcement.
FORWARD-LOOKING STATEMENTSSome statements in this
news release may contain “forward-looking statements” within the meaning of Canadian and Australian securities law and regulations. In this
news release, such statements include but are not limited to planned exploration activities and the timing of such. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the
resource industry and the risk factors identified in
Novo’s annual information form for the year ended December 31, 2024 (which is available under
Novo’s profile on SEDAR+ at
www.sedarplus.ca and at
www.asx.com.au) and in the Company’s prospectus dated 2 August 2023 which is available at
www.asx.com.au. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law,
Novo assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If
Novo updates any forward-looking statement(s), no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements.
¹ Refer to Novo’s ASX announcement released to ASX on 13 December 2024 – Novo strengthens portfolio with two high-grade gold projects in NSW, Australia.
² Refer to Novo’s ASX announcement released to ASX on 17 April 2025 – Business Review First Quarter 2025.
ABOUT NOVONovo is an Australian based gold explorer listed on the ASX and the TSX focussed on discovering standalone gold projects with > 1 Moz development potential.
Novo is an innovative gold explorer with a significant land package covering approximately 5,500 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.
Novo’s key project area in the Pilbara is the Egina Gold Camp, where De Grey Mining (ASX: DEG) is farming-in to form a JV at the Becher Project and surrounding tenements through exploration expenditure of A$25 million within 4 years for a 50% interest. The Becher Project has similar geological characteristics as De Grey’s 12.7 Moz Hemi Project#.
Novo is also advancing gold exploration south of Becher in the Egina Gold Camp, part of the Croydon JV (
Novo 70%: Creasy Group 30%).
Novo continues to undertake early-stage exploration elsewhere across its Pilbara tenement portfolio.
Novo has also formed a lithium joint venture with SQM in the Pilbara which provides shareholder exposure to battery metals.
Novo has recently strengthened its high-quality, Australian based exploration portfolio by adding the TechGen John Bull Gold Project in the New England Orogen of NSW, and Manhattan Tibooburra Gold Project in the Albert Goldfields in northwestern NSW. Both projects demonstrate prospectivity for significant discovery and
resource definition and align with
Novo’s strategy of identifying and exploring projects with > 1 Moz Au potential. These high-grade gold projects compliment the landholding consolidation that forms the Toolunga Project in the Onslow District in Western Australia.
Novo has a significant investment portfolio and a disciplined program in place to identify value accretive opportunities that will build further value for shareholders.
Please refer to
Novo’s website for further information including the latest corporate presentation.