NOVO RES CORP - NSRPF STOCK NEWS

Novo Resources Corp. (OTCQX: NSRPF) has pinpointed new exploration targets at the Egina project in the Pilbara region of Western Australia. Key highlights include the discovery of multiple untested aeromagnetic anomalies similar to those at De Grey Mining’s Hemi gold site, along with two significant Au-As-Sb soil anomalies. Historical drilling by another issuer intersected up to 4.38 g/t Au, although this data remains unverified by Novo. Upcoming exploration efforts for 2022 will focus on high-resolution aeromagnetics, soil sampling, and drilling to validate these promising targets.

Novo Resources Corp. (OTCQX: NSRPF) announced an unforeseen extension of maintenance at its Golden Eagle processing facility due to greater wear on the pitman/swing stock bearing housing than expected. This maintenance commenced on October 30 and is projected to conclude by November 5. While the mill is shut down, mining operations continue unaffected. The company plans to provide an update once the maintenance is complete.

Novo Resources Corp. (OTCQX: NSRPF) announced promising preliminary results from its maiden reverse circulation drilling program at the Genie prospect in Western Australia. Significant findings include 8 m at 4.6 g/t Au and 10 m at 3.0 g/t Au, among others, highlighting the prospect's potential for valuable oxide feed to the nearby Golden Eagle Plant. The mineralization remains open in all directions, with further drilling already underway to expand the discovery. The exploration team focuses on defining the extent of the new style of gold mineralization related to dolerite intrusion.

Novo Resources Corp. (OTCQX: NSRPF) has reported a Q3 2021 operational update highlighting significant gold production of 18,144 oz Au, a 22% increase from 14,890 oz Au in Q2 2021. Despite achieving targeted mining and milling rates, lower head grades were noted due to previous drilling methods, impacting accuracy. Financially, Q3 revenue reached C$43 million, a 36% increase, with a cash balance of C$44.1 million. The company is optimistic about ongoing grade control drilling and has initiated an oxide mining study to enhance production efficiency.

Novo Resources Corp. announced promising results from the Talga Gold Project in Western Australia, where drilling yielded significant gold intersections. Notable results include 3 m at 25.5 g/t Au from 28 m and 3 m at 23.3 g/t Au from 11 m. The drilling program consisted of 65 shallow RC holes totaling 3,240 m, defining a corridor of mineralized structures approximately three kilometers long. Follow-up drilling is planned for early 2022 to further explore these high-grade gold plunging shoots. The company is leveraging PhotonAssay technology to expedite sample analysis.

Novo Resources Corp. (OTCQX: NSRPF) has announced an additional A$2.5M exploration budget to expedite drilling in the Mosquito Creek Basin, home to the Nullagine gold project and Golden Eagle processing facility. Over 25,000 meters of reverse circulation drilling is underway, with identified high-priority targets, including the Parnell-Vulture prospect. Recent mapping and sampling revealed strong gold grading up to 7.8 g/t Au. Historical data is being re-analyzed for further targets. The exploration aims to increase mill feed for the processing facility.

Novo Resources Corp. (OTCQX: NSRPF) announced an operational and exploration update for its Nullagine gold project in the Pilbara region of Western Australia. Senior management will host two webinars: the first on August 9 at 1pm PST, and the second on August 10 at 5:30am PST. Both events will provide insights into the company's activities and future plans. Participants are encouraged to submit questions to management via email. Novo is focused on developing its gold resources while exploring a 14,000 square kilometre land package in the region.

Novo Resources Corp. has appointed Mr. Michael Spreadborough as executive co-chairman, marking a significant leadership change. He transitions from an independent director role as Dr. Quinton Hennigh becomes non-executive co-chairman but remains involved in exploration efforts. Mr. Rob Humphryson continues as CEO, steering the company from exploration to production. The executive shift aims to enhance Novo's growth in the Pilbara region and improve operational excellence as it focuses on its flagship Beatons Creek gold project and innovative sorting technologies.

Novo Resources Corp. reported a record gold production of 8,589 ounces in July, marking a 46% increase from June. The company sold 7,899 ounces of gold, generating C$17.8 million in revenue, a 50% increase over the previous month. The company's cash balance reached C$49 million as of July month-end, a 6% growth since June. Novo's investment portfolio has a fair value of approximately C$170 million. The company continues to focus on exploration drilling and operational improvements at the Nullagine Gold Project.