Novo Resources Corp.

Novo Resources reports its financial results for the six-month period ended June 30, 2022. This news release should be read together with Novo’s management’s discussion and analysis and condensed interim consolidated financial statements for the six-month period ended June 30, 2022 which are available under Novo’s profile on SEDAR. The three-month period ended June 30, 2022 is referred to as “Q2 2022” in this news [...]

Novo Resources is pleased to advise that it has completed repayment of its senior secured US$40 million credit facility with Sprott Resource Lending subsequent to the completion of the sale of the Company’s New Found Gold Corp. investment1. The Company is now free of long-term borrowings, with an unaudited consolidated cash balance of C$76.6 million. The Company paid an aggregate amount of US$40,144,029 to Sprott in [...]

Novo Resources is pleased to advise that it has closed the second and final tranche of its previously announced sale of 15 million shares of New Found Gold Corp.. In the second tranche, Novo sold a total of 6.75 million escrowed New Found shares to a corporation controlled by Eric Sprott at C$8.45 per share for gross proceeds of approximately C$57.0 million. Inclusive of the gross proceeds raised from the sale of 8.25 [...]

Novo Resources is pleased to provide an update on gold and nickel-copper targets at Purdy’s North on EL47/1745 and on the Maitland Intrusion in the West Pilbara region of Western Australia. Purdy’s North is adjacent to Azure Minerals’s Andover VC-07 nickel-copper-cobalt massive sulphide discovery and Artemis Resources Limited’s Carlow Castle gold-copper-cobalt discovery. It should be noted that there is no certainty that [...]

Novo Resources advises that the Chair of the Western Australian Environmental Protection Authority has determined that the Company’s approvals submission regarding the Fresh mineralization component of the Company’s Beatons Creek gold project does not require assessment under Part IV of the Western Australian Environmental Protection Act 1986. The Company will now promptly initiate discussions with the Western Australian [...]

Novo Resources provides a 2022 second quarter operational update from the Beatons Creek gold project and the Golden Eagle processing facility. “Q2 2022 and H1 2022 have been critical periods for Novo,” commented Mr. Mike Spreadborough, Novo’s Executive Co-Chairman, Acting CEO, and director. “Despite operational setbacks with the Golden Eagle Plant in late May4 and the decision to pause operations at Beatons Creek, our [...]

Novo Resources reports that all resolutions proposed to shareholders at the annual general meeting of shareholders held today passed, including the election of all of the director nominees listed in the management information circular dated May 2, 2022. Voting as to each of the director nominees was as follows: Refer to the report of voting results filed today under Novo’s profile at www.sedar.com for further details.

Novo Resources announced details of the Company’s upcoming annual general meeting scheduled for 4:00 p.m. PDT on Tuesday, June 28, 2022, and investor presentation to be held subsequent to the Meeting at 4:30 p.m. PDT. Please see the Company’s notice of meeting and information circular, as filed under the Company’s profile at www.sedar.com and on the Company’s website, for further details of the Meeting. Shareholders who [...]

Novo Resources provides an update on its mechanical sorting program. The Phase Two mechanical sorting trial has been completed, with samples from Comet Well, Purdy’s Reward, and Egina processed through the Sorter which was assembled adjacent to the Golden Eagle processing plant at the Nullagine Gold Project. The Phase Two trials represent a culmination of four years of test work conducted by Novo to determine the [...]

Novo Resources is pleased to report additional assay results received from the current diamond drilling program on RL006587 at the Malmsbury Project, approximately 50 km SSW of the high-grade Fosterville mine. Novo exercised its option over the Malmsbury Project to earn a 50% interest, and the right to earn an additional 10% interest by incurring A$5 million in exploration expenditure over a four-year period2. “The latest [...]