NOVO RES CORP - NSRPF STOCK NEWS

On June 22, 2021, Novo Resources Corp. (OTCQX: NSRPF) held its annual general meeting where all proposed resolutions were passed unanimously. Director nominees, including Quinton Hennigh and Robert Humphryson, received overwhelming support, with votes for the top nominee exceeding 87 million. The company continues to focus on its Beatons Creek gold project and the expansive 14,000 square kilometers land package in Western Australia. More detailed voting results are available on Novo's profile at www.sedar.com.

Novo Resources Corp. (OTCQX: NSRPF) has announced its annual general meeting (AGM) scheduled for June 22, 2021, at 4:00 p.m. PDT, followed by an investor presentation at 4:30 p.m. PDT. Due to COVID-19, shareholders are advised to attend virtually and vote by proxy. Pre-registration is required for both virtual and in-person attendance. The company is progressing its Beatons Creek gold project while exploring additional opportunities in Western Australia. More details are available on Novo's official website.

Novo Resources Corp. announced the Toronto Stock Exchange's acceptance of 5,176,500 new common share purchase warrants, named the 2021 Warrants, effective June 14, 2021. These warrants are priced at C$3.00 and are exercisable until May 4, 2024. Novo Resources currently has 8,596,184 existing 2020 Warrants, which are priced at C$4.40 and expire on August 27, 2023. Both warrants are governed by separate indentures with Olympia Trust Company. The company is focused on its Beatons Creek gold project in Western Australia and exploring its sizable land package.

Novo Resources Corp. reported significant operational updates from its Beatons Creek gold project in Nullagine, Australia. In May 2021, the project achieved record gold production of 5,064 ounces, generating revenue of C$10.8 million. The cash balance reached C$45.2 million, excluding investments valued at approximately C$204 million. Safety metrics remain stellar with no lost time injuries. The processing plant is operating at an annualized rate of 1.5 mtpa with expected increases. The company is transitioning to a long-term drilling contract to enhance operational efficiency.

Novo Resources Corp. (OTCQX: NSRPF) has launched a A$12 million exploration program for 2021, focusing on enhancing the Nullagine Gold Project (NGP) and exploring other regional targets across Pilbara and Victoria, Australia. Key activities include reverse circulation drilling at Beatons Creek and testing mechanical sorting techniques to optimize gold recovery. The program aims to identify high-potential gold resources, with preliminary drill results indicating promising grades. The company is developing multiple conglomerate-hosted and basement-hosted gold targets, potentially expanding its gold resource base.

Novo Resources Corp. has scheduled its annual general meeting for June 22, 2021, at 4 PM PDT. The Company is nominating Amy Jo Stefonick for election to its board, bringing extensive legal experience from multiple industries. Recent appointments of Ross Hamilton and Michael Spreadborough to the board enhance operational and sustainability expertise. Notably, Akiko Levinson and Yoshikazu Ishikawa will not seek re-election, with thanks for their contributions. Shareholders are encouraged to vote by proxy due to COVID-19 safety concerns. Details are available on the Company’s website.

Novo Resources Corp. (OTCQX: NSRPF) has signed a 3-year agreement with Intertek for on-site laboratory and PhotonAssay services at the Golden Eagle Mill. This collaboration aims to support Novo's Beatons Creek project by providing a minimum of 40,000 PhotonAssays monthly, helping to alleviate assay backlogs and enhance exploration capabilities. The installed Chrysos Units will improve sample preparation efficiency, contributing to ongoing operations in the Pilbara region. The partnership promises to streamline assay processes and expand exploration efforts for Novo's extensive land package.

Novo Resources Corp. has finalized its option exercise to acquire a 50% interest in the Malmsbury gold project from GBM Resources. Following all necessary approvals, Novo has issued 1,575,387 common shares and reimbursed AUD $250,000 in exploration costs. The company can earn an additional 10% by spending AUD $5 million over four years. If successful, GBM can either retain its 40% interest by contributing to costs or dilute to 25% based on a preliminary economic assessment. A royalty arrangement is also in place, capped at 2.5% net smelter returns upon a mining decision.

Novo Resources Corp. has amended its US$60 million credit facility with Sprott Resource Lending Corp., drawing an additional US$5 million. The amended agreement allows for a second tranche totaling US$15 million, available until September 30, 2021. This flexibility supports the advancement of Novo's Beatons Creek gold project to commercial production, following the sale of part of its Blue Spec tenure. The company aims to retain financial flexibility through this credit arrangement.