Novo Resources for Trading the OTCQB Market

VANCOUVER, British Columbia, January 02, 2025 (GLOBE NEWSWIRE) – Novo Resources Company (TSX: NVO) (ASX: NVO) (OTCQB: NSRPF) announces that it has moved its trading platform from the OTCQX to the OTCQB market in the US.

As of now, Novo Resources will now trade on the OTCQB under the ticker symbol NSRPF. This shift reflects the company’s evolving strategic priorities while continuing to provide an opportunity to increase engagement with the US investment community while maintaining access to a highly respected US trading platform.

“We are pleased to make this transition to OTCQB, which better suits our current growth stage and provides a more efficient and cost-effective platform for both our shareholders and potential investors,” said Mr. Michael Spreadborough, Co-CEO. From Novo Resources. “Our commitment to enhancing gold exploration in Western Australia remains steadfast, and this change will help strengthen our market presence in the US and abroad, ultimately supporting our goal of creating long-term stakeholder value.”

OTCQB is a premium tier of the OTC Markets suite, providing increased visibility, higher compliance standards and greater trading efficiency. Despite the change, Novo Resources remains committed to transparency, regularly communicating with investors and providing operational updates.

Novo Resources continues to trade on the TSX under the symbol NVO and on the ASX under the symbol NVO.

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About Novo

Novo is an Australian-based gold exploration company listed on the ASX and TSX focused on discovering independent gold projects with development potential of >1 Moz. Novo is an innovative gold exploration company with a large land package covering approximately 5,500 sq km in the Pilbara region of Western Australia, along with the 22 sq km Beltober Project in the Bendigo Tectonic Zone in Victoria, Australia.

Novo’s main project area is the Egina Gold Camp, where De Gray Mining is farming to form a joint venture in the Becher project and surrounding tenements with exploration expenditure of A$25 million over 4 years for a 50% interest. The Becher Project has similar geological characteristics to the De Gray 12.7 Moz Hemi Project¹. Novo is also developing gold exploration at Nunyerry North, part of the Croydon JV project (Novo 70%: Creasy Group 30%), where drilling in 2023 revealed significant gold mineralization. Novo continues to conduct early-stage exploration across its Pilbara tenement portfolio.

Novo has a large investment portfolio and a disciplined program to identify value accretive opportunities that will build additional shareholder value.

Please refer to Novo’s website for more information including the latest company presentations.

An exploration objective as defined in the JORC (2012) is a statement or estimate of the exploration potential of a mineral deposit in a specified geological environment where the statement or estimate is defined as a range of tons and a range of grade (or quality), relating to mineralization that is not yet fully explored. Sufficient for estimating mineral resources. Accordingly, these figures are not estimates of mineral resources or ore reserves as defined in the JORC Code (2012). The potential quantities and grades indicated above are conceptual in nature and there has been insufficient exploration to estimate the Mineral Resource, and it is uncertain whether further exploration will result in an estimate of the Mineral Resource. These figures are based on an interpretation of continuity of mineralization and projection into often unexplored territory around historical workings. The exploration target has been prepared in accordance with JORC (2012). As detailed in the company’s ASX announcement issued on 25 September 2024 (available to view on www.asx.com.au). The tonnage range for the exploration target is 1.5 million tons to 2.1 million tons and the grade range is 6.6 g/t Au to 8.4 g/t Au. The Company confirms that it is not aware of any new information that materially affects the information in the original market announcement and that all material assumptions and technical parameters supporting the estimates in the original market announcement remain valid and have not materially changed.

1. Refer to De Gray ASX announcement, Hemi Gold Project Resources Update, dated 21 November 2023. No assurance can be given that similar (or any) commercially viable mineral deposits will be identified at Novo’s Becher Project.