VANCOUVER, British Columbia, Nov. 30, 2017 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX-V:NVO) (OTCQX:NSRPF) is pleased to announce that it has satisfied its farm-in exploration expenditure commitment on 38 tenements and tenement applications which comprise the land package subject to the farm-in and joint venture agreements signed with Artemis Resources Limited (“Artemis”) (see the Company’s news releases dated August 15 and May 26, 2017). As a result, the 50:50 joint venture between Novo and Artemis is now live. Artemis and Novo, through their various subsidiaries, will contribute to further exploration on a 50:50 basis. The joint ventures shall be governed and managed collectively as one joint venture, and the management committee for each of the separate joint ventures may meet and make decisions as a single body. Novo is to be appointed as manager of the joint ventures, and shall manage the joint venture operations.
“We are excited to continue progressing exploration efforts in the Karratha region of Western Australia,” commented Dr. Quinton Hennigh, Chairman, President, and a director of Novo Resources Corp. “We look forward to partnering with our new joint venture partner, Artemis Resources, in order to advance the Karratha gold project.”
About Novo Resources Corp.
Novo’s focus is to explore and develop gold projects in the 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 information, please contact Leo Karabelas at (416) 543-3120 or e-mail email@example.com.
On Behalf of the Board of Directors,
Novo Resources Corp.
Chairman and President
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