Novo Completes Acquisition of Mt. Elsie Project

Novo Completes Acquisition of Mt. Elsie Project

VANCOUVER, British Columbia, July 10, 2020 -- Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO; OTCQX:

NSRPF) is pleased to announce that it has completed the acquisition of three exploration licences (the “ Mt. Elsie Project ”)

comprising an area of approximately 19 km 2 located 75 km north-east of the town of Nullagine, Western Australia and

adjacent to numerous Novo wholly-owned tenements (please see the Company’s news release dated June 11, 2020).

The Company has issued an aggregate 324,506 common shares (the “ Consideration Shares ”) and paid AUD $100,000 in

cash to the vendors of the Mt. Elsie Project. The Consideration Shares are subject to a statutory hold period expiring on

November 10, 2020.

The Transaction was subject to approval from the TSX Venture Exchange and other customary regulatory approvals for

transactions of this nature, all of which have been obtained.

About Novo Resources Corp.

Novo’s focus is primarily to explore and develop gold projects in the Pilbara region of Western Australia, and Novo has built up

a significant land package covering approximately 13,750 square kilometres with varying ownership interests. In addition to the

Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its

shareholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail [email protected]

On Behalf of the Board of Directors,

Novo Resources Corp.

“Quinton Hennigh”

Quinton Hennigh

President and Chairman

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture

Exchange) accepts responsibility for the adequacy or accuracy of this news release.