Novo Resources Corp. Exploration Update

Core Viewpoint - Novo Resources Corp. is advancing its exploration activities across its enhanced portfolio, with significant geological and geochemical sampling campaigns planned for 2025, aiming to establish priority drilling targets [5][6][10]. Exploration Activities - The company has completed mapping and sampling at the Tibooburra and John Bull Gold Projects in New South Wales, with results expected in mid-March 2025 to guide drilling targets for Q2 2025 [6][10][19]. - At the John Bull Gold Project, 340 soil and 63 rock chip samples have been collected over a 1.3 km trend, while at the Tibooburra Gold Project, 962 soil and rock chip samples have been collected over a 2.8 km trend [10][17][26]. - The Toolunga Project in Western Australia is undergoing ongoing desktop assessments to identify priority targets for field verification [7][30]. Impact of Weather Events - Tropical Cyclone Zelia has adversely affected planned drill programs in the Pilbara region, potentially delaying access to drill targets at Balla Balla and across the Egina joint venture [7][33][37]. Project Details - The John Bull Gold Project covers 32 sq km and is a farm-in agreement with TechGen Metals, allowing Novo to acquire an 80% interest in one tenement and a 70% interest in another [11][51]. - The Tibooburra Gold Project spans 630 sq km and is a farm-in agreement with Manhattan Corp, granting Novo an option to acquire a 70% interest [20][51]. - The Toolunga Project encompasses a strategic landholding of 1,524 sq km in the Onslow District, with plans for systematic exploration using modern technologies [30][29]. Future Plans - Novo plans to conduct approximately 2,000 m of RC drilling in Q2 2025 at both the John Bull and Tibooburra projects, targeting priority areas identified through recent fieldwork [19][25]. - The company is also preparing for further exploration campaigns in the Onslow District, including geophysical surveys and additional mapping [31][30].