NOVO RES CORP - NSRPF STOCK NEWS

Novo Resources has transitioned its auditor from Ernst & Young to Deloitte Touche and Tohmatsu, effective May 6, 2024. This change was requested by the company and approved by its Audit, Risk and Corporate Governance Committee and Board of Directors. There were no modifications of opinion in Ernst & Young's reports for the fiscal years 2022 and 2023, nor were there any reportable events between Novo and Ernst & Young. The required documentation has been filed on SEDAR+.

Novo Resources Corp. delivers significant exploration results across its Western Australian gold portfolio, including upgraded drill intercepts from the Nunyerry North project and positive results from the Becher project. The company is financially strong with no debt, holding a cash balance of A$16.7 million (C$14.7 million) and investments of A$47.7 million (C$42.1 million) as of 31 March 2024.

Novo Resources Corp. (ASX: NVO) announces a follow-up drilling program at Nunyerry North and defines new targets near Karratha. The program aims to test multiple targets for gold mineralization. The company plans a maiden RC drilling program at Karratha District to explore gold and gold-copper targets in early Q3 2024. De Grey Mining, the Earn-in/JV partner, is set to start exploration programs in Q2 2024.

Novo Resources Corp. announces the resignation of Mr. Michael Barrett and the appointment of Ms. Karen O’Neill as an independent non-executive director. Ms. O’Neill brings extensive experience in mining and finance to the Board, enhancing Novo's governance and commercial capabilities.

Novo Resources Corp. announces high-grade results from the 2023 Nunyerry North drill program, showcasing significant gold intercepts. The company plans a follow-up drill program and exploration near Karratha. Novo is well-funded for these activities with a cash balance of A$17.4 million and an investment portfolio of A$39.3 million.

Novo Resources Corp. has initiated a Board and Leadership renewal process to drive the company's growth. The recruitment for a new CEO is underway, with current executives transitioning to new roles. The company aims to complete the leadership transition before the Annual General Meeting in June 2024. Novo is financially strong with A$21 million in cash and a portfolio exceeding A$30 million.

Novo Resources Corp. provides an update on drilling results at the Becher Project, part of the Egina earn-in and joint venture with De Grey Mining. Over 10,500 m of drilling completed, confirming gold mineralization at the Lowe and Heckmair intrusions. Follow-up drilling planned for priority targets in 2024.

Novo Resources Corp reported strong exploration progress and results across Western Australian gold projects, including transformative battery metals joint venture agreements and a strong financial position. However, the company divested the Nullagine Gold Project and experienced a reduction in land tenure holding costs.

Novo Resources Corp. (Novo) (ASX: NVO) (TSX: NVO & NVO.WT.A) (OTCQX: NSRPF) announces an additional A$1.8 million investment by Liatam Mining Pty Ltd to acquire 9,000,000 common shares at A$0.20 per share, increasing their shareholding from ~3% to ~6%. Novo is now in a strong financial position to continue aggressive exploration focus across key gold targets in the Pilbara, Western Australia, and Victoria in 2024.