Positive Coarse Gold Recoveries From Recent Bulk Samples at Novo’s Egina Project

VANCOUVER, B.C., Oct. 09, 2019 (GLOBE NEWSWIRE) — Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce it has recovered significant coarse gold from trenching and bulk sampling at its Egina gold project, Western Australia. Recent results further confirm Novo’s view that surface gravels covering the vast erosional terrace at Egina have the potential to host a gold deposit. Novo currently controls approximately 2,000 sq km of prospective erosional terrace.

Novo’s most recent trench, Trench 4, is oriented north-south and situated approximately 70 metres west of Trench 1 and its associated bulk samples discussed in the Company’s news releases dated August 13, 2019 (https://www.novoresources.com/news-media/news/display/index.php?content_id=360) and August 22, 2019 (https://www.novoresources.com/news-media/news/display/index.php?content_id=361). Three bulk samples collected adjacent to Trench 4 yielded 337.2 grams of coarse, natural gold nuggets from 222.2 cubic metres of lag gravel.

Highlights:

Metal detecting and gravity processing of 222.2 cubic metres of surface lag gravels yielded a total of 337.2 grams of coarse, natural gold nuggets (please refer to below table of results and Figure 1 for sample locations).

Bulk sample EGBS025 contained a single gold nugget weighing 86.3 grams, the largest yet recovered from the 2019 field season.* Novo considers these results very encouraging because the weight of recovered gold excluding this one outlier nugget is 250.9 grams. Many alluvial gold deposits display grades significantly below one gram per cubic metre.

All gold discussed in this news release is coarser than one mm and potentially amenable to low cost “dry” extraction methods such as eddy current separators and mechanical sorters. Novo discussed favorable preliminary test results using eddy current separators on Egina gold nuggets in a Company news release dated September 16, 2019 (https://www.novoresources.com/news-media/news/display/index.php?content_id=363).

Bulk sampling was undertaken across a 48-m wide nugget-rich zone within a broad topographic depression, or swale, identified by ground penetrating radar.

Additional trenching and bulk sampling is currently underway and will continue until the end of 2019.

* This nugget is not necessarily indicative or representative of mineralization at the Egina project.

Table of coarse gold recoveries from three bulk samples at Egina: