August 22, 2014 2:13 AM ET

Metals and Mining

Company Overview of Novo Resources Corp.

Company Overview

Novo Resources Corp. engages in the evaluation, acquisition, and exploration of natural resource properties. The company holds the right to earn a 70% interest in the Pilbara Paleo-Placer project located in Western Australia. It also has the right to earn a 70% interest in another exploration property, Beatons Creek Tenements, situated in Western Australia. The company was formerly known as Galliard Resources Corp. and changed its name to Novo Resources Corp. in June 2011. Novo Resources Corp. was incorporated in 2009 and is headquartered in Vancouver, Canada.

1075 West Georgia Street

Suite 1980

Vancouver, BC V6E 3C9


Founded in 2009





Key Executives for Novo Resources Corp.

Chief Executive Officer
Age: 47
Total Annual Compensation: $149.7K
Chief Financial Officer
Age: 48
Compensation as of Fiscal Year 2013.

Novo Resources Corp. Key Developments

Novo Resources Corp. Provides Update of Activities in the Pilbara, Western Australia

Novo Resources Corp. provided an update of exploration activities on its Pilbara gold project, Western Australia. Summary: bulk leach extractable gold (BLEG) sampling has resumed and is expected to be completed by the end of July. All results are expected back on or about the end of August. A gold deportment study of conglomerates from Beatons Creek indicates most gold is coarse ()150 microns and free of other minerals suggesting a significant amount of gold could potentially be recovered by conventional gravity techniques. This study also indicates that a much larger drill sample size is needed for a better representation of coarse gold and that gold analysis is best suited by screen metallic fire assaying. Further drilling at Beatons Creek and Marble Bar is planned to commence in August pending permits.

Novo Resources Corp. Announces Commencement of its 2014 Exploration Program at Pilbara Gold Project, Western Australia

Novo Resources Corp. announced commencement of its 2014 exploration program at its Pilbara gold project, Western Australia. Novo announced it had signed a binding term sheet with the Creasy Group of Perth, Western Australia to, among other things, acquire a 70% interest in 103 new tenements and tenement applications in the Pilbara region. Novo's holdings now encompass eight large tenement packages: Beatons Creek, Marble Bar, E Pilbara, Mosquito Creek, Balfour Downs, Top Camp/Croydon, Whim Creek and W Pilbara. With the addition of these vast land holdings, Novo has decided to shift its near-term exploration focus toward effective exploration for additional gold-bearing conglomerate occurrences within prospective Fortecue Group rocks underlying much of this new area. Once BLEG sampling is complete around mid-year, Novo plans to resume drilling at Beatons Creek and initiate drilling at Contact Creek at Marble Bar. Consideration is also being given to conduct large diameter drilling and/or bulk sampling at Beatons Creek. Should the aforementioned BLEG sampling and follow-up mapping and sampling work identify any new, high priority drill targets, Novo may consider conducting first pass drilling before year end.

Novo Resources Corp. Announces Discovery of New Outcropping Gold-Bearing Conglomerate Horizon (Reef) in an Area Approximately 700 Meters West of NI 43-101 Compliant Resource

Novo Resources Corp. announced the discovery of a new outcropping gold-bearing conglomerate horizon (reef) in an area approximately 700 meters west of the NI 43-101 compliant resource (421 Koz Au; 8.9 Mtonnes at 1.47 gpt Au). Surface grab samples taken during a recent reconnaissance mapping and sampling program range from 0.06-17.86 gpt Au. The reef varies from 1-2 meters thick and appears to be quite shallow, less than 20 meters deep, over an area roughly one kilometer across. It is approximately 150 meters up-section from known gold- bearing reefs at Grant's Hill. More sampling and mapping will be undertaken to adequately assess its true extent.

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