Nullagine GOLD Project Update

Suite 880, 580 Hornby Street

Vancouver, BC, Canada V6C 3B6

P: +1-416-543-3120 E: [email protected] www.novoresources.com

November 1, 2021

NULLAGINE GOLD PROJECT UPDATE

VANCOUVER, BC - Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO , NVO.WT & NVO.WT.A)

(OTCQX: NSRPF) wishes to advise that that a routine crusher maintenance shut at its Nullagine gold project’s

Golden Eagle processing facility (“ Golden Eagle Mill ”) has discovered greater wear than anticipated on its

pitman/swing stock bearing housing which will require additional maintenance in Perth, Western Australia.

As a result of this unanticipated crusher shut extension, the Golden Eagle Mill has been shut for opportunistic

preventative maintenance since October 30. Mining operations, however, will continue uninhibited. The

Company anticipates that this shut will continue until crusher preventative maintenance is complete and the

refurbished components are reinstalled in the crusher, which is expected to be completed by November 5.

The Company will provide a further update around this date.

ABOUT NOVO

Novo operates its flagship Beatons Creek gold project while exploring and developing its prospective land

package covering approximately 13,250 square kilometres in the Pilbara region of Western Australia. In

addition to the Company’s primary focus, Novo seeks to lever age 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.

“Michael Spreadborough”

Michael Spreadborough

Executive Co-Chairman

Forward-looking information

Some statements in this news release contain forward -looking information (within the meaning of Canadian

securities legislation) including, without limitation, the anticipated end date of the Golden Eagle Mill shut .

These statements address future events a nd 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 implie d by the

statements. Such factors include, without limitation, the actual time required to refurbish and reinstall the

worn crusher components, customary risks of the resource industry and the risk factors identified in Novo’s

management’s discussion and analysis for the six-month period ended June 30, 2021, which is available under

Novo’s profile on SEDAR at www.sedar.com. Forward -looking statements speak only as of the date those

statements are made. Except as required by applicable law, N ovo assumes no obligation to update or to

publicly announce the results of any change to any forward -looking statement contained or incorporated by

reference herein to reflect actual results, future events or developments, changes in assumptions or changes

in other factors affecting the forward-looking statements. If Novo updates any forward-looking statement(s),

no inference should be drawn that the Company will make additional updates with respect to those or other

forward-looking statements.