Novo Initiates Due Diligence Under Kalamazoo Option

VANCOUVER, British Columbia, Sept. 29, 2020 (GLOBE NEWSWIRE) -- Novo Resources Corp. ("Novo" or the "Company") (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that the TSX Venture Exchange has accepted for filing documentation pertaining to Novo's terms sheet with Kalamazoo Resources Ltd. ("Kalamazoo") dated September 22, 2020 (the "Terms Sheet") whereby Novo has been granted an option to acquire an initial 50% interest in Kalamazoo's Queens Project in Victoria, Australia. Accordingly, Novo has initiated the six-month due diligence period under the Terms Sheet. Please see the Company's news release dated September 22, 2020 for further details.

The Company has issued 24,883 common shares to Kalamazoo which are subject to a statutory hold period expiring on January 29, 2021.

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 [email protected]

On Behalf of the Board of Directors,

Novo Resources Corp.

"Quinton Hennigh"
Quinton Hennigh
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.