Core Viewpoint - Novo Resources Corp. is actively enhancing its exploration portfolio with new projects and is well-funded to execute its exploration strategy, expecting a continuous flow of news in the upcoming quarter [1][6][57]. Sustainability - No significant safety, environmental, or community incidents occurred during the March Quarter 2025, and ongoing discussions with Traditional Owners are aimed at ensuring heritage protection for exploration activities [2]. Portfolio - Novo has developed a diversified gold exploration and development portfolio across leading mining provinces in Australia, focusing on a mix of greenfields and advanced exploration projects [3][57]. - The company has planned detailed drill programs across all key projects, with a dedicated project generation program to identify advanced gold and copper assets [3]. Project Updates - The John Bull Gold Project, located in New South Wales, covers approximately 32 square kilometers and offers an advanced exploration opportunity with an option to acquire an 80% interest in one tenement and a 70% interest in another [4][57]. - The Tibooburra Gold Project, also in New South Wales, spans 630 square kilometers and includes six granted exploration licenses, with an option to acquire a 70% interest [9][10]. - Drilling at the Balla Balla Gold Project has commenced, with a program of approximately 6,000 meters testing priority target zones [6][29]. Exploration Results - At the Tibooburra project, rock chip sampling returned peak results of 89.6 g/t Au and 41.9 g/t Au, with soil sampling defining a coherent anomaly of over 600 meters [6][18][19]. - A targeted 2,000-meter RC drill program is planned to commence at Tibooburra in late April 2025 to test high-grade gold mineralization [6][14][23]. Financial Position - As of March 31, 2025, Novo had a cash balance of A$10 million (C$9 million) and investments valued at approximately A$35.6 million (C$31.9 million) [6][43].

Core Insights - Onyx Gold Corp. announced high-grade drill results from the Munro-Croesus Project, with a significant intersection of 3.4 g/t gold over 69.6 meters, including high-grade subintervals of 13.9 g/t gold over 9.5 meters and 38.5 g/t gold over 3.0 meters [1][2][3] - The company has signed an option agreement to acquire a 21-hectare property adjacent to the Argus North discovery, enhancing its land position and exploration potential [1][11][12] Drill Results - Drill hole MC24-163 intersected a continuous zone of strong gold mineralization, improving upon a previous intersection of 1.9 g/t gold over 48.1 meters [2][5] - The new results indicate a broad mineralized interval within altered mafic volcanics, with visible gold observed in a quartz veinlet [6][5] - The mineralization remains open in all directions, suggesting substantial potential for further expansion [2][5] Option Agreement - The option agreement allows Onyx Gold to acquire a 100% interest in the strategically located property for a total of C$1,515,000 and 3,300,000 shares over three years [11][13] - The property has never been drilled or systematically explored, highlighting its untapped potential [12][11] Future Exploration Plans - Immediate follow-up plans include step-out drilling to extend the new zone to surface and down-dip to trace high-grade zones [9][10] - The company intends to present its near-term exploration plans for its Timmins properties in the coming weeks [10] Project Overview - The Munro-Croesus Project is located in the Abitibi greenstone belt, a premier gold mining jurisdiction in Canada, covering 108 km² of highly prospective geology [25][26] - The project includes the past-producing Croesus Gold Mine, known for high-grade gold production [25][29]

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].