Novo: Acquires Option Over Kalamazoo Resources Limited’s Queens Project

VANCOUVER, British Columbia, Sept. 22, 2020 (GLOBE NEWSWIRE) — Novo Resources Corp. (“ Novo ” or the “ Company ”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that it has been granted an option and an additional earn-in right to acquire an initial 50% interest in ASX-listed Kalamazoo Resources Limited’s (“ Kalamazoo ”) Queens gold project (the “ Queens Project ”) located in the Bendigo zone of Australia’s Victorian goldfields (collectively, the “ Transaction ”) ( please see Figure 1 and Figure 2 below for map s of the Queens Project ), with the possibility of an increase to an 80% interest, as described below. The Transaction is subject to approval of the TSX Venture Exchange and other customary regulatory approvals for transactions of this nature. Novo holds a 7.64% undiluted / 11.60% fully diluted equity interest in Kalamazoo pursuant to an investment made on January 14, 2020 .

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