NVO Novo Resources Corp

Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO & NVO.WT; OTCQX: NSRPF) is pleased to announce it has taken delivery of its Steinert KSS mechanical sorter and provides an operational update from its Beatons Creek gold project (“Beatons Creek”) and Nullagine processing facility (“Golden Eagle Mill”).

Mechanical Sorting Update:

• The Steinert KSS mechanical sorter has arrived into the port of Fremantle (Perth) and is currently being delivered to Steinert’s test facility;
• Orders have been placed for all long lead items (feeder hopper, feeder conveyor, discharge conveyors). Pre-assembly will occur at Steinert / OPS facility in Bibra Lake (Perth) prior to mobilization to site;
• Planning is well advanced with design of support infrastructure – compressed air, power, cyclone rated shelter / offices; and
• The Comet Well / Purdy’s Reward mechanical sorting trial remains on track to commence in April 2021 subject to receiving requisite approvals from the Department of Mines, Industry Regulation, and Safety and the Department of Water and Environmental Regulation. Ngarluma Aboriginal Corporation approval has been granted.

Beatons Creek and Nullagine Gold Project Update:

Development at Beatons Creek and refurbishment at the Golden Eagle Mill continue to progress safely, on schedule and within budget. Recent key milestones achieved include:

• Mining contractor systems alignment and pre-mobilization works proceeding to plan to support arrival of first plant and personnel from December 14th;
• Grade control drilling now operating day and night shifts as planned; and
• Site personnel (including contractors) now totaling 80.

Please see the Company’s news release dated November 18, 2020 for the Company’s previous operational update.

Mining Contractor Mobilization:

• Senior Iron Mine Contracting Pty Ltd (“IMCPL”) personnel have attended site post contract award and are in advanced stages of planning to support the arrival of first plant and equipment from December 14th.

Development activities at Beatons Creek:

Grade control program:

• Grade control reverse circulation drilling by Castle Drilling continues to progress well across the Edwards and Grant’s Hill areas, with high density drilling underway (10m x 10m drill hole spacing and 0.5m sample interval) (see figure 1);
• Grade control drilling has now shifted to day and night shifts as planned to accelerate works ahead of mining; and
• Sample dispatches continue to be transported to MinAnalytical in Kalgoorlie for gold PhotonAssay.

Mine development works

• Australian Aboriginal Heritage Act Section 18 removal and relocation of Aboriginal artefacts from around the Grant’s Hill area completely successfully under the supervision of custodians of the land at Beatons Creek;
• Topsoil stripping of Grant’s Hill waste dump location has commenced (see figure 2);
• Office and laydown pads have been established at Beatons Creek, with office buildings being relocated from the Golden Eagle Mill location commencing on December 10, 2020; and
• Lacy Contracting Services P/L have been retained to conduct preliminary haulage works from Beatons Creek to the Golden Eagle Mill, with haulage starting immediately with a single truck to relocate historical stockpiles of ore to the Golden Eagle ROM pad.

Refurbishment works on the Golden Eagle Mill:

Plant refurbishment:

• Works continue with refurbished key componentry returning from Perth for installation – all continues according to schedule;
• Work in the leach tanks and launders continues to plan, with 6 tanks fully refurbished ahead of reinstallation of trash screens, carbon pumps and agitators, with refurbishment works in the remaining 3 tanks due for completion prior to year’s end (see figure 3); and
• Burgess BLA (specialist mill contractors) have attended site to inspect all operational aspects of the mill, including alignment, motor, gearbox, girth gear, pinion, lubrication systems and feed and discharge end bearings. Bearings and girth gear have been assessed and ready for operations. Seals have been replaced with final components being manufactured in Kalgoorlie, Western Australia ready for installation next month. Final motor and gearbox alignment will be undertaken immediately prior to commissioning in mid-January 2021.

Civil works:Foundations have now been completed for the upgraded Acacia reactor unit along with new elution tank footings in the gold room. The mining contractor’s workshop slab is nearing completion. The GR Engineering Services (“GRES”) scope currently stands at approximately 50% complete, with works continuing on schedule and within budget with no material issues or problems encountered thus far.

Long lead items have all been ordered and arrival dates remain within the refurbishment schedule.

Other major tenders:

• A 3-year camp management and catering services contract has been awarded to Cater Care Services P/L. Cater Care’s experience as the previous camp operator stands them in good stead for delivering an excellent service at the site; and
• The permanent surface haulage contract package is out for tender, with solid progress being made with numerous other commercial agreements for fuel supply, processing reagents, assay laboratory services and flights.

Novo CEO and director Rob Humphryson commented, “GRES and their key subcontractors Duratech P/L and Northfields WA P/L continue to perform outstanding work. The further we move through plant refurbishment works without encountering major operational issues, the more we de-risk the start-up and commissioning phases of the project. On the people front, Novo is assembling an outstanding team across all facets of the operation, with observable levels of enthusiasm, commitment and communication auguring well for the future success of the operation.”

Dr. Quinton Hennigh (P.Geo.) is the qualified person pursuant to NI 43-101 responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is President, Chairman, and a director of Novo.

About Novo Resources Corp.

Novo is advancing its flagship Beatons Creek gold project to production while exploring and developing its highly prospective land package covering approximately 14,000 square kilometres in the Pilbara region of Western Australia. In addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com

On Behalf of the Board of Directors,

Novo Resources Corp.

“Quinton Hennigh”Quinton Hennigh President and Chairman

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-looking information

Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, the successful completion of development and plant refurbishments works on time and on budget, and that Novo’s board of directors will make the decision to commence full-scale production at Beatons Creek. Forward-looking statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, the successful completion of site establishment works at Beatons Creek, the successful completion of grade control drilling works, MinAnalytical’s ability to assay the Company’s drill samples in a timely and cost-effective manner, the successful completion of mining, camp management, fuel supply, processing reagents, assay laboratory services, flights, and haulage services contracts, and customary risks of the resource industry.

PDFs accompanying this announcement are available at:

http://ml.globenewswire.com/Resource/Download/05c34327-f38f-4cd9-af79-319b3d9ab801

http://ml.globenewswire.com/Resource/Download/6a50caa0-a002-4dca-a96c-81f7fb3dc7e7

http://ml.globenewswire.com/Resource/Download/59e03b17-bb22-4454-b3df-f57704e1309f