Pilbara Exploration Update

Core Insights - Novo Resources Corp. is focusing on high-grade gold and antimony exploration in the Pilbara region, with a busy second half of 2025 planned for drilling and exploration activities [2][4][6] - The company has identified several promising targets, including the Sherlock Crossing prospect, which features a 1.5 km antimony anomaly and is prioritized for upcoming drilling [3][6][17] - Novo's partnership with Northern Star Resources in the Egina Farm-in and Joint Venture arrangement is expected to enhance exploration efforts in the strategic Mallina Basin area [4][20] Exploration Activities - The Pilbara exploration portfolio includes the Balla Balla Gold Project, where a maiden aircore (AC) drilling program was completed, targeting the Sholl Shear Zone [7][8] - A total of 187 AC holes were drilled, totaling 5,996 meters, with peak results showing low-level gold anomalism and significant multielement assays [8][10][14] - The Sherlock Crossing prospect has shown strong antimony and gold anomalies, with planned drilling set for H2 2025 [15][18] Joint Ventures and Partnerships - Northern Star Resources has begun reviewing key data for future exploration work in the Egina Gold Camp, following its acquisition of De Grey Mining [4][20] - Novo's joint venture with De Grey Mining requires a further A$18 million expenditure by June 30, 2027, to earn a 50% interest in the Becher Project [21][39] Future Plans - Detailed mapping and sampling will continue at the Sherlock Crossing and Southeast Wyloo projects to assist in targeting core anomalies for future drilling [18][27] - The company is also preparing for drilling at the John Bull Gold Project in New South Wales, with activities expected to commence in early Q3 2025 [5][41]