Novo Provides Corporate Update

VANCOUVER, British Columbia, Oct. 20, 2017 -- Novo Resources Corp. (TSX-V:NVO) (OTCQX:NSRPF) (“Novo” or the “Company”) reports the appointment of Messrs. Rob Humphryson and Michael Barrett as directors of the Company, replacing Messrs. Luca Bechis and Herrick Lau who have resigned. The Company would like to thank Messrs. Bechis and Lau for their invaluable contributions throughout their tenure and wishes them well in their future endeavours.

Mr. Michael Barrett has over 26 years’ international experience in top-rated organisations, including Deloitte, Rio Tinto, WMC Resources and PWC. Mr. Barrett is a highly-regarded former CFO with extensive board level strategic experience, combined with hands-on operational experience and deep international capital markets experience. Mr. Barrett is a Chartered Accountant and started his career with PWC in London, UK. From 2004 until 2015, Mr. Barrett was based in the US with Rio Tinto's energy business unit. Promoted to CFO in 2007, he was instrumental in leading Rio's divestment of the division and, in 2009, successfully listing the business on the NYSE as Cloud Peak Energy Inc. with a valuation of approximately US$2 billion. From 2009 to 2015, Michael was CFO of Cloud Peak Energy, one of the largest listed coal producers in the US, helping steer the business through a period of significant disruption in US markets. After returning from the US to Perth in 2015, Mr. Barrett spent two years as National Lead Partner for Deloitte's Risk Advisory Energy and Resources practice, where he specialised in corporate governance, board advisory and risk management for many of the largest mining and energy and resources companies nationally.

Mr. Rob Humphryson was appointed as the Company’s Chief Executive Officer on June 5, 2017. He is a Mining Engineer who graduated from the Western Australian School of Mines in 1990. Mr. Humphryson has over 25 years of experience within ASX-listed companies in the Australian mining industry, gaining broad exposure to underground and open pit mining operations from both a contractor and owner miner’s perspective. A 17-year career at Macmahon Underground (formerly National Mine Management) culminated in executive operational and business development leadership roles within the group. He has more recently held senior roles at Swick Mining Services (Business Development Manager) and Silver Lake Resources (Chief Operating Officer), where he gained significant exposure to precious metals project construction, operation and acquisitions. Mr. Humphryson is a member of the AusIMM.  

"We are delighted to have Mr. Humphryson and Mr. Barrett join our board at this time," commented Dr. Quinton Hennigh, Chairman and President of Novo Resources Corp.  "Mr. Humphryson, who joined Novo as CEO in June 2017, has served a vital role in building and managing the team needed to advance our new Karratha gold project. Mr. Barret brings a strong set of financial, corporate governance and M&A skills.  Both Mr. Humphryson and Mr. Barret are Perth-based, building a solid foundation for Novo to grow as an Australian-focused gold explorer."

The Company also reports that it has granted incentive stock options to certain directors, officers, employees, and consultants to purchase up to 2,800,000 common shares in the capital of the Company pursuant to its stock option plan. The options are exercisable on or before October 20, 2022 at an exercise price of CAD$7.70 per share. The options are subject to certain vesting conditions.

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 10,000 km². 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 protected].

On Behalf of the Board of Directors,

Novo Resources Corp.

“Quinton Hennigh”
Quinton Hennigh
Chairman and President

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