Novo Announces Upsize of Previously Announced Non-Brokered Private Placement to C$5 Million
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Novo Files Egina Technical Report and Satisfies Bellary Dome Conditions
Novo Resources Corp. ("Novo" or the "Company") (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that it has voluntarily filed a technical report prepared pursuant to National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") for its Egina gold project. The independent technical report, entitled NI 43-101 Technical Report: Egina Alluvial Project, Pilbara Region, Western Australia (the "Egina Technical Report"), with an effective date of April 30, 2020 and an issue date of July 30, 2020, was prepared for Novo by Dr. Quinton Hennigh (PGeo) and Dr. Simon Dominy (FAusIMM (CP) FAIG (RPGeo)) as co-authors. Dr. Hennigh and Dr. Dominy are qualified persons as defined under NI 43-101. The Egina Technical Report will be available under the Company's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") website at www.sedar.com and on the Company's website at www.novoresources.com.
Novo Announces Plans to Acquire and Field Test a Steinert Mechanical Sorter at Purdy's Reward / Comet Well
Novo Resources Corp. ("Novo" or the "Company") (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that it is in advanced discussions with Steinert Australia Pty Ltd ("Steinert") to procure a 1.0m wide KSS 100F LIXT fine mechanical sorting unit, to be deployed at the Company's wholly-owned Purdy's Reward and Comet Well JV gold projects during the 2020 field season (see Figure 1 below). The sorter will be manufactured by Steinert in Germany with an expected 18 week delivery time to Australia (see Figure 2 below).
Novo Signs Binding Terms Sheet With Mark Creasy and Consolidates 2,900 sq km of Prospective Pilbara Tenure
Novo Resources Corp. ("Novo" or the "Company") (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that it has entered into a binding terms sheet (the "Terms Sheet") with Mark Creasy and entities controlled by him (collectively, the "Creasy Group") pursuant to which Novo will consolidate sole ownership of 510km of existing tenure and acquire ownership of an additional 2,390km of highly prospective new tenure in the Pilbara region of Western Australia (the "Transaction") (see figure 1 below for a map of the Transaction tenure). The Transaction is subject to completion of definitive documentation and assignment of relevant third-party agreements as well as approval from the TSX Venture Exchange and other customary regulatory approval for transactions of this nature, including approval from the Australian Foreign Investment Review Board ("FIRB") for certain components of the Transaction.
Novo Enters Into Agreement to Acquire Option Over Bellary Dome Tenement in Southern Pilbara
Novo Resources Corp. ("Novo" or the "Company") (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that it has entered into an option agreement (the "Option Agreement") with Bellary Dome Pty Ltd ("Bellary Dome") for the option (the "Option") to acquire the gold rights in exploration licence 47/3555 (the "Tenement") located in the Southern Pilbara region of Western Australia (please see figure 1 and figure 2 below). The Option is conditional upon the removal of a caveat currently registered against the Tenement by a non-arm's length party to Bellary Dome and subsequent registration of the Tenement in Bellary Dome's name by July 31, 2020 (the "Conditions").
Novo Enters Into Agreement to Acquire Mt. Elsie Project in Western Australia
Novo Resources Corp. ("Novo" or the "Company") (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that it has entered into a binding terms sheet to acquire three exploration licences (the "Mt. Elsie Project") comprising an area of approximately 19 km located 75 km north-east of the town of Nullagine, Western Australia and adjacent to numerous Novo wholly-owned tenements (please see figure 1 below) (the "Acquisition"). The Acquisition is conditional upon receipt of any consents or approvals required under the Mining Act 1978 (WA) and the acceptance of the TSX Venture Exchange (the "Conditions").
Novo Discovers Broad Gold-Bearing Swale at Egina Mining Lease and Discusses Terrace Concept
Novo Resources Corp. ("Novo" or the "Company") (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce it has discovered a broad gold bearing swale in the northwestern part of its Egina mining lease. This new discovery ties in well with the Company's overall interpretation regarding gold distribution across the greater Egina terrace.
Novo Recommences Exploration at Egina; Discovers Yet Another Broad Gold-bearing Swale at Paradise
Novo Resources Corp. ("Novo" or the "Company") (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce it has recommenced its 2020 exploration program at its Egina gold project and quickly identified another broad gold-bearing swale at Paradise.