Novo (NVO.TO): Mechanical Sorter Construction Complete Ahead of Phase 2 Trials at Nullagine Gold Project

HIGHLIGHTS

• Steinert KSS 100F LIXT fine mechanical sorting unit (“ Sorter ”) enroute to Nullagine
• Phase 2 trials scheduled to commence once Sorter commissioned (expected early December 2021)
• Trials to continue through Q2 2022, at which time the Sorter is scheduled to be relocated to the Company’s Karratha project to continue detailed testwork at Comet Well and Purdy’s Reward, potentially leading to commercialization of mechanical sorting of Novo’s Pilbara gold deposits

“Mobilizing the mechanical sorter for Phase 2 field trials represents an important step in progressing this innovative technology,” commented Mr. Rob Humphryson, CEO and a director of Novo. “We are looking forward to observing Sorter performance from field samples collected at Comet Well, Purdy’s Reward, Talga Talga, and Egina ahead of larger-scale field trials at Comet Well and Purdy’s Reward scheduled for Q2 2022.”

VANCOUVER, British Columbia, Nov. 10, 2021 (GLOBE NEWSWIRE) — Novo Resources Corp. ( “Novo” or the “Company” ) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to advise that Phase 2 mechanical sorting trials of Pilbara deposit bulk samples will commence from early December 2021. The Company’s Steinert KSS 100F LIXT fine mechanical sorting unit (the “ Sorter ”) will be installed adjacent to the Company’s Golden Eagle processing facility in Nullagine, Western Australia.

The Sorter is currently enroute to Nullagine and will be commissioned over the next few weeks. 50 samples from four different deposits across the Pilbara ( Figure 1 ), ranging in size from 800 kg to approximately five tonnes, will be crushed and screened into three size fractions prior to testing through the Sorter. The bulk samples will be processed by the Sorter to produce a concentrate for gold assay.

Once this second phase of testing is complete, expected around Q2 2022, the next phase of the test work will involve relocating the Sorter to the Company’ Comet Well project in Karratha, Western Australia and commencing proposed large-scale bulk sample sorting testwork of 20,000 tonnes, leading to potential commercialization of mechanical sorting for Pilbara conglomerates.

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3b991743-88e9-4c01-9e72-9ec6c1c722ed

The Sorter infrastructure, designed and constructed by OPS Screening and Crushing Equipment (“ OPS ”), is a fully modular and containerized turn-key plant deployable to any of Novo’s tenements in the future for testwork and potential large bulk sampling and processing ( Figure 2 ). The Sorter includes feed and product transfer conveyors, allowing the Sorter to produce gold-bearing concentrates in a single pass for further upgrading or downstream processing. The Sorter has been preassembled and commissioned in Perth, WA and is now being disassembled and transported to the Golden Eagle processing facility. It is expected that following reassembly, the Phase 2 trials will commence in early December and are expected to run through Q2 2022.

This trial of the Sorter within the Golden Eagle processing facility area is a culmination of several years of test work conducted by Novo to determine the amenability of mechanical sorting to its 13,250 sq km of tenements across Western Australia. Mechanical sensor-based sorting utilizes x-ray technology, 3D colour laser, and metal induction to identify gold-bearing material. A high-pressure air jet ‘shoots’ these gold bearing particles into a collection system to produce a concentrate for further downstream processing.

Novo looks forward to commencing its first site-based trial of the Sorter and takes this opportunity to thank its partners, OPS and Steinert, in bringing this innovation to fruition.

Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2cd5733c-51a5-4c0b-8af1-ded3938a18ce

QP STATEMENT

Dr. Quinton Hennigh (P.Geo.) is the qualified person, as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects , responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is the non-executive co-chairman and a director of Novo.

ABOUT NOVO

Novo operates its flagship Beatons Creek gold project while exploring and developing its prospective land package covering approximately 13,250 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 [email protected] .

On Behalf of the Board of Directors,

Novo Resources Corp.

“ Michael Spreadborough ”

Michael Spreadborough

Executive Co-Chairman

Forward-looking information

Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, that phase 2 mechanical sorting trials of Pilbara deposit bulk samples will run from early December 2021 through Q1 2022 next to the Golden Eagle processing facility located in Nullagine, Western Australia via the Company’s Sorter, that the Sorter will be commissioned over the next few weeks, that the bulk samples will be crushed and screened into three size fractions prior to testing through the Sorter, and that large scale bulk sample sorting testwork of 20,000 tonnes will occur at the Company’s Comet Well and Purdy’s Reward deposits in Q2 2022. These 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 actual time required to refurbish and reinstall the worn crusher components, customary risks of the resource industry and the risk factors identified in Novo’s management’s discussion and analysis for the six-month period ended June 30, 2021, which is available under Novo’s profile on SEDAR at www.sedar.com. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, Novo assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If Novo updates any forward-looking statement(s), no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements.