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Novo Receives Final Regulatory Approvals and Provides an Operational Update From Beatons Creek

 

VANCOUVER, British Columbia, Feb. 03, 2021 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“ Novo ” or the “ Company ”) (TSX: NVO & NVO.WT; OTCQX: NSRPF) is pleased to announce all regulatory approvals have now been received and provide an operational update from its 100% controlled Beatons Creek gold project (“ Beatons Creek ”) and Nullagine processing facility (“ Golden Eagle Mill ”).
 

Highlights:

Development at Beatons Creek and refurbishment at the Golden Eagle Mill continue to progress safely, on schedule and within budget. Recent key events and milestones include:

Please see the Company’s news release dated December 17, 2020 for the Company’s previous operational update.

Development activities at Beatons Creek:

Refurbishment works on the Golden Eagle Mill:

Plant refurbishment:

Civil works:

“Operations proceeded according to plan throughout the holiday season and January and we thank all Novo employees and contractors for their contributions over this time,” commented Novo CEO and director, Rob Humphryson. “Despite severe weather conditions, works have proceeded beyond expectation and we thank our plant refurbishment contracting partners for delivering us a plant that met the brief of being safe, reliable, and suitable for processing Beatons Creek material. With all regulatory approvals now to hand, we turn our focus to commissioning the processing plant and advancing Beatons Creek towards production.”

Tuscarora Project Update

The Company is also pleased to announce that American Pacific Mining Corp. (“ American Pacific ”) has completed its earn-in and now owns a 100% interest in the Tuscarora gold project (“ Tuscarora ”) in Nevada, USA. Novo retains a 0.5% net smelter returns royalty over Tuscarora which American Pacific can repurchase for US$500,000 at any time. Please see the Company’s news release dated November 6, 2017 for further details.

Dr. Quinton Hennigh (P.Geo.) is the qualified person pursuant to NI 43-101 responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is President, Chairman, and a director of Novo.

About Novo Resources Corp.

Novo is advancing its flagship Beatons Creek gold project to production while exploring and developing its highly prospective land package covering approximately 14,000 square kilometres in the Pilbara region of Western Australia. 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 leo@novoresources.com

On Behalf of the Board of Directors,

Novo Resources Corp.

“Quinton Hennigh”

Quinton Hennigh

President and 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 successful progress of grade control drilling, and that Novo’s board of directors will make the decision to commence full-scale production at Beatons Creek. 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 successful completion of grade control drilling works, and customary risks of the resource industry.

PDFs accompanying this announcement are available at:

http://ml.globenewswire.com/Resource/Download/8606a7e1-babc-4c01-aec8-07e3682a718e

http://ml.globenewswire.com/Resource/Download/0a47b823-7704-4197-9216-201c505d4d67

http://ml.globenewswire.com/Resource/Download/69238a89-73dd-4a3e-9d2b-63ccdcf80431

http://ml.globenewswire.com/Resource/Download/b82d6b65-77b0-4714-a4f2-ea785fafad1e

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http://ml.globenewswire.com/Resource/Download/962f089c-bd80-49d8-8bdf-fdb9ff5c4832

http://ml.globenewswire.com/Resource/Download/24cf7518-695d-4510-94d2-108a01f88c58

http://ml.globenewswire.com/Resource/Download/5430e306-9035-45ae-8764-70ce46deec66

http://ml.globenewswire.com/Resource/Download/fe082235-c714-4f99-a046-ad15f900d17e


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