VANCOUVER, British Columbia, July 10, 2020 (GLOBE NEWSWIRE) -- 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 km2 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 firstname.lastname@example.org
On Behalf of the Board of Directors,
Novo Resources Corp.
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.