Novo Signs Terms Sheet with Ngarluma Aboriginal Corporation Concerning Heritage Agreements
{00873209;1}
Novo Resources Corp.
Suite 1980 – 1075 West Georgia Street
Vancouver, BC V6E 3C9
NOVO SIGNS TERMS SHEET
WITH NGARLUMA ABORIGINAL CORPORATION
CONCERNING HERITAGE AGREEMENTS
VANCOUVER, BC, November 16 , 2017 - Novo Resources Corp. (“Novo” or the
“Company”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that it has signed
a binding terms sheet with Ngarluma Aboriginal Corporation (“ NAC”) regarding the
Comet Well and surrounding tenements which are subject to various sale, royalty, farm-in
and joint venture arrangements entered into by the Company (please see the Company’s
previous news releases for further details). NAC has committed to expeditiously prepare
and execute heritage agreements with the Company and progress heritage surv eys on the
Comet Well and surrounding tenements in an efficient manner and on a priority basis. Upon
execution of the heritage agreements and receipt of necessary regulatory approvals, the
Company will issue to NAC 100,000 Novo common shares (the “Consideration Shares”).
The Consideration Shares will be subject to a statutory hold period expiring four months
from the date of issuance.
“We are delighted that Ngarluma Aboriginal Corporation have committed to expediting
the heritage agreement and heritage cle arance processes for the Comet Well and
surrounding tenements,” commented Mr. Rob Humphryson, the CEO and a director of
Novo Resources Corp. “Our positive relationship with Ngarluma stems from a mutual
alignment to progress the Karratha gold project whilst generating direct benefits and
sustainable outcomes for the Ngarluma people. Having the Ngarluma people as
shareholders in Novo will allow them to directly share in Novo’s success. Expediting these
agreements and clearances will also allow the Comet Well tenements to progress to the
grant stage, thereby cementing our joint ownership interests in the tenements and allowing
us to submit our programmes of work for approval.”
About Novo Resources Corp.
Novo’s focus is to explore and develop gold projects in t he Pilbara region of Western
Australia, and Novo has built up a significant land package covering approximately 12,000
sq km. Novo also controls a 100% interest in approximately 2 sq km covering much of the
Tuscarora Au -Ag vein district, Nevada. For more i nformation, please contact Leo
Karabelas at (416) 543-3120 or e-mail [email protected].
On Behalf of the Board of Directors,
Novo Resources Corp.
{00873209;1}
“Quinton Hennigh”
Quinton Hennigh
Chairman and President
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.
Forward-looking information
Some statements in this news release contain forward-looking information (within the meaning of Canadian
securities legislation) including, without limitation, the statement that heritage agreements are expected to be
signed in due course and heritage surv eys are expected to be progressed efficiently . Forward-looking
statements address future events and conditions and, as such, involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or achievements to be materially different
from any future results, performance or achievements expressed or implied by the statements. Such factors
include, without limitation, the Company’s ability to negotiate terms , to its satisfaction, of heritage
agreements with NAC.