Core Viewpoint - Novo Resources Corp. has announced a capital raising initiative aimed at raising gross proceeds of C$7.9 million (approximately A$8.2 million) through a placement of units and Chess Depository Interests (CDIs) to institutional and sophisticated investors [3][9]. Group 1: Capital Raising Details - The capital raising will involve the issuance of approximately 16.8 million units at C$0.10 per unit and approximately 61.1 million CDIs at A$0.105 per CDI [3]. - The placement will occur in two tranches, with Tranche 1 expected to raise approximately C$6.0 million (around A$6.2 million) and Tranche 2 expected to raise approximately C$1.9 million (around A$2.0 million), subject to shareholder approval [11]. - Major shareholder Northern Star Ltd has committed to participate in the placement up to its pro-rata holding of approximately 9% [5]. Group 2: Use of Proceeds - The funds raised are intended to be primarily used for planned drilling and reconnaissance activities across priority projects throughout 2026, as well as for general working capital purposes [9]. - Drilling will focus on high-priority projects in Western Australia, including Wyloo, Balla Balla, and Teichman, with programs set to commence in Q2 2026 [10][18]. Group 3: Project Highlights - At Wyloo, a proposed 1,500m RC drill program will target a high-grade vein array, with peak rock chip assays returning 0.93 g/t Au, 482 g/t Ag, 1.29% Sb, 2.62% Cu, 9.7% Pb, and 15.95% Zn [10]. - The Balla Balla project will see a planned 6,000m AC drill program aimed at expanding on a previously completed 5,996m Air Core drill program that identified a large polymetallic geochemical anomaly [18]. - The Teichman project will have a planned 2,000m RC drill program focusing on two shear zones that returned significant gold assays [18]. Group 4: Additional Information - Novo continues to receive strong annual dividends from its investment in the San Cristobal Mine, which has delivered excellent returns [13]. - The company has a significant land package covering approximately 4,160 square kilometers in the Pilbara region of Western Australia and is focused on discovering standalone gold and copper projects with over 1 million ounces of development potential [21].

Core Viewpoint - Novo Resources Corp. is undertaking a capital raising through a proposed placement of securities to raise gross proceeds of approximately C$5,800,000 (approximately A$6,000,000) [1] Group 1: Placement Details - The Placement will consist of up to 59,100,000 units, with units priced at C$0.10 per share and Chess Depository Interests (CDIs) priced at A$0.105 per CDI [2] - Each unit will include one share and one-half of a share purchase warrant, with warrants having an exercise price of C$0.15 and expiring three years from the issue date [3] - The issue price for the units represents a 25% discount to the market price on the Toronto Stock Exchange, while the CDIs represent a 19.2% discount to the last closing price on the ASX [6] Group 2: Use of Proceeds - Proceeds from the Placement are intended to support exploration activities in the Pilbara region of Western Australia and at the Belltopper Gold Project in Victoria, as well as for general working capital [7] Group 3: Securities and Approvals - All securities issued under the Placement will be subject to a four-month hold period, and the Placement does not require shareholder approval in Australia or Canada [8] - The Lead Managers will receive up to 8,273,557 unlisted broker options, subject to shareholder approval at the Company's AGM planned for June 2026 [9] Group 4: Company Overview - Novo Resources is an Australian-based gold explorer focused on discovering standalone gold and copper projects with over 1 million ounces of development potential, covering approximately 4,160 square kilometers in the Pilbara region [14] - The company is advancing its exploration projects, including the Egina Gold Camp and the Belltopper project, and has formed a lithium joint venture with SQM in the Pilbara [15][16]

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].

Core Insights - The updated Exploration Target for the Belltopper Gold Project indicates significant growth in both tonnage and grade compared to the previous 2024 Exploration Target, driven by further geological interpretation and historical data analysis [7][10][11]. Exploration Target Overview - The 2026 Exploration Target includes a new reef and expanded strike and dip extents for four of the seven reefs documented in the 2024 Exploration Target [2][11]. - The updated tonnage range is estimated between 2.1 million tonnes (Mt) and 3.1 Mt, with a grade range of 6.7 grams per tonne (g/t) to 8.9 g/t Au [4][12]. Geological Context - The Belltopper Gold Project is situated in the Bendigo Tectonic Zone, known for its historical gold production exceeding 60 million ounces [5][11]. - The updated target incorporates the Western Domain Fault as a new reef and includes extensions on four priority reefs from the previous target [8][11]. Drilling and Future Plans - Planning for potential drilling in the second half of 2026 has commenced to enhance confidence in the Exploration Target [9][11]. - The company aims to test high-priority reefs both within and outside the current Exploration Target [10][11]. Historical Production and Mining - Historical mining in the area has produced approximately 90,000 ounces of gold at grades between 1-2 ounces per tonne [25]. - The reefs included in the updated target have varying degrees of historical mining and exploration development [28][67]. Additional Prospective Reefs - Several additional high-priority reefs have been identified for future exploration, which are currently outside the 2026 Exploration Target [67][68]. - Specific reefs such as the NW Fault 9 and Butchers Gully Fault have shown promising historical intersections and are considered for future drill testing [68].

Core Insights - Novo Resources Corp. has provided an update on the Wyloo Project, highlighting recent exploration results and a forward work program, including a maiden RC drilling program planned for Q2 2026 to test the Wyloo SE polymetallic vein system [2][3][19]. Exploration Results - Recent soil sampling at Wyloo SE has defined a strong, open-ended multielement anomaly over a known polymetallic vein system, with peak soil values of 57.2 ppm Ag, 142 ppm Sb, 1,440 ppm As, 2,180 ppm Zn, and 1,530 ppm Pb [5][11]. - Follow-up stream sediment sampling at Wyloo SW has expanded the original anomaly, defining a target area of 2.5 km x 800 m with peak stream sediment results of 19.9 ppm Sb and a multielement association of Sb-As-Cu-Pb-Zn [4][15]. Geological Context - The Wyloo project area is located in the southern Pilbara, with the Wyloo SE and SW prospects situated within the core of the Wyloo anticline, forming a basement high within the Ashburton Basin [6][28]. - The geological setting includes a dynamic tectonic environment with the Nanjilgardy Fault located just 5 km south of the prospect [6]. Planned Activities - A heritage survey is scheduled for March 2026 to facilitate access for the planned RC drilling at Wyloo SE [5][19]. - The maiden drilling program will target the ENE trending vein array, the Tasha Fault Zone, and soil anomalies parallel to stratigraphy, aiming to assess the vertical metal zonation and potential plunge of the target [19][20]. Historical Context - Significant antimony anomalies were identified in 2023 during routine stream sediment sampling, leading to further exploration that revealed a zone of quartz-sulphide veining with anomalous antimony, silver, gold, and base metals at Wyloo SE [7][9]. - Previous rock chip sampling yielded peak assay results of 387 g/t Ag, 0.38% Sb, 5.0% Pb, 1.6% Zn, 2.4% Cu, and 0.52 g/t Au, enhancing the target's potential [7].

Core Insights - Novo Resources Corp. has published its 2025 Sustainability Report, emphasizing its commitment to responsible and sustainable business practices across all operations [1][2]. Group 1: Sustainability Focus - The report highlights three core pillars: operating with integrity, valuing people and communities, and respecting the environment [2]. - Initiatives and progress made over the past year include fostering ethical governance, supporting employee and community development, and minimizing environmental impact [2]. Group 2: Leadership Statement - Michael Spreadborough, Executive Chairman, stated that sustainability is central to the company's operations and essential for long-term value creation for stakeholders [4]. Group 3: Company Overview - Novo is an Australian gold explorer listed on ASX and TSX, focused on discovering standalone gold and copper projects with over 1 million ounces (Moz) development potential [5]. - The company has a significant land package of approximately 5,500 square kilometers in the Pilbara region of Western Australia and additional projects in Victoria and New South Wales [5]. Group 4: Key Projects - The Egina Gold Camp is a key project area where Northern Star Resources Limited is forming a joint venture at the Becher Project, involving an exploration expenditure of A$25 million for a 50% interest [6]. - Novo is also advancing gold exploration in the Egina Gold Camp and has formed a lithium joint venture with SQM Australia Pty Ltd, providing exposure to battery metals [7]. Group 5: Portfolio Expansion - Novo has strengthened its exploration portfolio by adding the TechGen John Bull Gold Project and the Manhattan Tibooburra Gold Project, both demonstrating significant discovery potential [8]. - The company has a disciplined program to identify value-accretive opportunities to build further value for shareholders [9].

Core Insights - Novo Resources Corp. has released an updated corporate presentation highlighting its exploration and development activities in Australia, focusing on key gold projects and upcoming milestones for 2025 [1][2]. Company Overview - Novo Resources is an Australian gold explorer listed on ASX and TSX, targeting standalone gold and copper projects with over 1 million ounces (Moz) development potential [4]. - The company holds a significant land package of approximately 5,500 square kilometers in the Pilbara region of Western Australia and an additional 22 square kilometers at the Belltopper project in Victoria [4]. Key Projects - The Egina Gold Camp is a primary project area where Northern Star Resources Limited is entering a joint venture at the Becher Project, committing A$25 million over four years for a 50% interest [5]. - Novo is also advancing exploration south of Becher in the Egina Gold Camp as part of the Croydon joint venture, where Novo holds a 70% interest [5]. - The company has formed a lithium joint venture with SQM in the Pilbara, providing exposure to battery metals [6]. Recent Developments - Novo has enhanced its exploration portfolio by acquiring the TechGen John Bull Gold Project and the Manhattan Tibooburra Gold Project, both of which show potential for significant discoveries [7]. - These projects align with Novo's strategy of identifying and exploring opportunities with over 1 Moz gold potential [7]. Strategic Focus - Novo Resources is committed to delivering shareholder value through focused exploration, strategic project advancement, and responsible resource development [2][8].

Core Insights - Novo Resources Corp. has reported promising early-stage exploration results from its Pilbara project portfolio, particularly in the Teichman area and Sherlock Crossing, indicating significant potential for gold and antimony deposits [2][3][5]. Exploration Results - The geological work at Teichman has identified multiple prospective drill targets over an area of 1.3 x 2.5 km, with notable rock chip assay results including peak values of 77.5 g/t Au and 51.4 g/t Au, with 11 of 87 samples exceeding 10 g/t Au [5][9]. - Drilling at Sherlock Crossing yielded significant results, including 3 m at 2.96 g/t Au and 1.86% Sb from 108 m, with a peak of 1 m at 7.71 g/t Au and 4.77% Sb [5][19]. Project Developments - The Teichman area is characterized by complex geology and multiple vein arrays, with ongoing exploration activities aimed at preparing for a maiden drill program [3][12]. - Follow-up mapping and sampling at the Wyloo Sb-Ag-Au Prospect is scheduled for late 2025, with drilling planned for Q1 2026 [5][24]. Joint Ventures and Partnerships - Northern Star Resources is actively exploring the Egina Joint Venture, focusing on major gold deposits, with a commitment to continue exploration activities [3][25]. - The Egina project involves a farm-in agreement where Northern Star is investing A$25 million over four years for a 50% interest, indicating strong collaborative efforts in the region [36].

Core Insights - Novo Resources Corp. has made significant advancements in its exploration activities at the Tibooburra Gold Project in New South Wales, highlighting the potential for high-grade gold deposits similar to major Victorian-style gold deposits [2][3][5]. Exploration Activities - Recent exploration included mapping and surface sampling at key prospects such as New Bendigo, Pioneer, and Warratta Reef, along with re-logging historic diamond core and conducting down-hole geophysical surveys at the Clone prospect [6][8]. - Rock chip sampling at Pioneer North returned a peak result of 39.9 g/t Au, while Pioneer South showed multiple samples exceeding 1 g/t Au, with peak values of 19.8 g/t Au, 8.12 g/t Au, and 5.83 g/t Au [7][12]. Geological Understanding - The exploration has enhanced the geological understanding of the high-grade gold system, indicating a multi-kilometre-scale alteration corridor with potential for high-grade gold from multiple reefs [7][11]. - The mapping work supports the interpretation of shallow to moderate NNW plunging high-grade shoots as the primary target style [8][11]. Drilling Plans - The company is in the final stages of assessing further drilling to test the extensions of Clone and Pioneer South, with all regulatory approvals for drilling at the John Bull project near Grafton already received [4][9]. - Drilling targets are being evaluated at Pioneer, New Bendigo, and Clone, with a focus on high-grade shoots [8][22]. New Applications - An additional exploration license has been applied for at Tibooburra, covering approximately 350 sq km, which consolidates the trend and includes multiple areas of historic workings [37]. Summary of Results - Significant rock chip results from the recent exploration include 39.9 g/t Au from Pioneer North and multiple high-grade results from Pioneer South, indicating strong potential for further discoveries [7][12]. - The company is awaiting assay results from 136 rock chip samples across priority prospects and 115 soil samples from Warratta Reef [8].

Core Viewpoint - Novo Resources Corp. has made significant advancements in its exploration activities at the Tibooburra Gold Project in New South Wales, identifying high-grade gold targets and enhancing geological understanding through recent mapping and sampling programs [5][6][7]. Exploration Activities - The exploration at Tibooburra involved mapping and surface sampling at key prospects including New Bendigo, Pioneer, and Warratta Reef, as well as re-logging historic diamond core and conducting down-hole geophysical surveys [6][8]. - Recent rock chip sampling returned notable results, including 39.9 g/t Au from Pioneer North and multiple samples exceeding 1 g/t Au from Pioneer South, indicating the potential for high-grade gold deposits [7][8]. Geological Insights - The geological mapping supports the hypothesis that mineralization at Tibooburra resembles major Victorian-style gold deposits, characterized by a combination of folding and faults that create high-grade ore bodies [3][4]. - The exploration has revealed a multi-kilometre-scale alteration corridor with significant gold-bearing quartz reefs, enhancing the potential for further discoveries [19][30]. Drilling Targets - Drilling targets are being assessed at Pioneer, New Bendigo, and Clone, with a focus on high-grade NNW plunging shoots [23][24]. - All regulatory approvals for drilling at the John Bull project have been secured, and negotiations for landholder access are ongoing [9][39]. New Applications - An additional exploration license covering approximately 350 sq km has been applied for at Tibooburra, consolidating the trend and including areas of historic workings [38]. Summary of Results - The exploration results include significant assays from various prospects, with Pioneer South showing consistent results above 1 g/t Au, including peak values of 19.8 g/t Au [12][16]. - The ongoing interpretation of mapping and sampling data will be integrated with pending assay results to refine potential drill targeting at Warratta Reef [34][35].