Novo Resources Business Update

Core Insights - Novo Resources Corp. is actively advancing its gold exploration and development portfolio across Australia, focusing on multiple projects with significant potential for mineral discovery and resource definition [3][4][83]. Project Updates - The Belltopper Gold Project's updated Exploration Target has increased significantly, with a tonnage range of 2.1 million tonnes (Mt) to 3.1 Mt and a grade range of 6.7 grams per tonne (g/t) to 8.9 g/t Au, reflecting a 40% to 48% increase in tonnage and a 1.5% to 6% improvement in gold grade compared to the previous target [19][24][16]. - At the Tibooburra Gold Project, notable rock chip assay results include peak values of 39.9 g/t Au and 19.8 g/t Au from various sampling locations, indicating strong potential for high-grade gold [28][25]. - The Wyloo Au-Ag-Sb Project has identified new targets for follow-up drilling, with peak soil values indicating significant mineralization potential, including 57.2 ppm Ag and 142 ppm Sb [47][46]. - Drilling at Sherlock Crossing returned peak results of 3 m at 2.96 g/t Au and 1.86% Sb, with mineralization remaining open at depth [59][54]. Financial Position - As of December 31, 2025, the company reported a cash balance of A$8.5 million (C$7.7 million) and investments valued at approximately A$23 million (C$21 million) [69]. Corporate Developments - The company is undergoing leadership changes, with Mrs. Karen De Luca resigning as General Manager Exploration, and Mr. Bruce Hooper appointed as interim General Manager Exploration [63][64]. - Novo is actively seeking to identify and acquire additional gold and copper assets to enhance its portfolio, with ongoing discussions regarding potential joint ventures [65][66].