Precious Metals

  • RC drilling has commenced at Purdy's North, testing a series of prospective gold and nickel-copper targets adjacent to Azure Minerals Limited's ( "Azure" ) Andover nickel-copper-cobalt discovery ( "Andover" ) and Artemis Resources Limited's ( "Artemis" ) Carlow Castle gold-copper-cobalt discovery ( "Carlow Castle" ).
  • Drilling program will start at the Milburn nickel-copper-gold and Morto Lago orogenic gold targets, as part of a large campaign testing multiple targets across the district.
  • Heritage surveys have been completed at Morto Lago, Milburn and the Southcourt prospects at Purdy's North and the Bushmill prospect in the Maitland Intrusion.
  • Additional targets for drilling include 47K, Thorpe, Bob's Well VHMS and the Bullock Park area. Work on these targets is awaiting final heritage clearance.
  • Geophysical Induced Polarisation ( "IP" ) and Fixed Loop Electromagnetic ( "FLEM" ) survey results used at several prospects to finesse high priority targeting from previous programs 1 .
  • High resolution aeromagnetic and radiometric survey across Purdy's North and the Bob's Well trend have enabled advances in structural interpretation and understanding geological setting.

Novo Resources Corp. ( "Novo" or the "Company" ) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to provide an update on gold and nickel-copper targets at Purdy's North on EL471745 and on the Maitland Intrusion (EL473443) in the West Pilbara region of Western Australia. Purdy's North is adjacent to Azure Minerals Limited's ( "Azure" ) Andover VC-07 nickel-copper-cobalt massive sulphide discovery ( "Andover" ) and Artemis Resources Limited's ( "Artemis" ) Carlow Castle gold-copper-cobalt discovery ( "Carlow Castle" ). It should be noted that there is no certainty that EL471745 nor EL473443 contains the same levels of mineralization as either of these discoveries 1 .

" We are excited to get on the ground at these drill targets, " commented Mr. Mike Spreadborough, Novo's Executive Co-Chairman, Acting CEO, and director. " This is a highly prospective region and there has been well-documented recent exploration success from our neighbours, including Azure Minerals and Artemis Resources. These projects are an important part of our broader exploration strategy and we look forward to seeing what our drilling program returns. "

A 4,500m RC drilling program has commenced, representing the first part of a broader drilling campaign on multiple targets in the Purdy's North area and other significant prospects in the Karratha district. This initially includes drilling targets for orogenic gold (copper-cobalt) at Morto Lago and Morto Lago North, and intrusive related nickel-copper-cobalt (gold-platinum group elements) targets at Milburn, Southcourt and Bushmill. Additional targets for drilling currently undergoing heritage surveys include 47K, the Bullock Park area, Thorpe and the Bob's Well – East Well VHMS trend (Figure 1).

An initial 5-day heritage survey was completed at both Purdy's North and further south on the Maitland Intrusion, clearing several prospects for access, with a second 5-day survey currently in progress.

Several of the extensive high-order copper, nickel geochemical anomalies at Purdy's North, initially defined by surface soil sampling and mapping have now been tested by either IP or FLEM surveys or a combination of both. A high resolution aeromagnetic/radiometric survey was also completed across Purdy's North and the Bob's Well VHMS trend. Results from this detailed technical work have been utilised to finesse original targets generated by mapping and surface sampling in late 2021.

https://www.globenewswire.com/NewsRoom/AttachmentNg/4dd83164-a7c3-49b4-be0c-91c81e490a21
Figure 1 : Prospect location at the Purdy's North and Maitland/Dingo intrusive areas.

The Milburn and Morto Lago prospects are located 1.5 km due east of Carlow Castle. At Milburn, the target is a discrete Electromagnetic geophysical ("EM") anomaly up to 300 m long and 200 m wide, overlaying a gabbro and meta-basalt contact. Two copper-nickel-gold occurrences in historic workings are present on the edge of the EM anomaly and are associated with the NNW trending sheared basalt-gabbro (intrusion) contact with anomalous copper. At Morto Lago, the target is a gold-quartz vein system that manifests as a 70 m wide subcrop over 350 m in an outwash claypan, mostly obscured by regolith, but with significant rock chip gold assay results (up to 6.63 g/t gold). Recently discovered is the Morto Lago North trend, where a complex array of malachite bearing sulphidic veins sub-crop in outwash plains over several hundred metres strike and 100m width, with pXRF values of >2000 ppm arsenic and 101 ppm gold (these pXRF values are likely indicative of gold being present, but do not accurately reflect gold grade).

The Bushmill historic EM anomaly is located 5 km south of the Radio Hill nickel-copper-cobalt Project. The VTEM target is located in the sheared northwest corner of the Maitland Intrusion and manifests as a single weak to moderate conductor at a depth of approximately 75 m. The EM plate is obscured by sand, gravel, and clay which has previously made surface sampling ineffective. Down-hole EM (DHEM) will be conducted on all nickel targets drilled.

https://www.globenewswire.com/NewsRoom/AttachmentNg/f64d66c1-dc9f-45a6-a5fb-9dde0a32744e
Figure 2 : Field photo of the Stark Drilling RC rig at Morto Lago.

https://www.globenewswire.com/NewsRoom/AttachmentNg/44b63ec8-0da5-4086-8d27-3495d515aca2
Figure 3 : Field photo of the Ngarluma heritage survey with six survey vehicles on the road to the Bushmill prospect in the Karratha district.

Analytic Methodology

The pXRF assay technique utilized a Niton XL5 handheld XRF machine. The Niton is calibrated daily, with 4 QAQC standards (fit for purpose including certified Ni, Cu and Co values) run concurrently, with an additional 2 standards checked per 100 readings and 4 QAQC standard assayed before the machine is shut down. pXRF is utilized as a preliminary exploration technique for base metals. Rock chip samples are point analysed for 90 seconds using 4 machine filters. The pXRF is a spot reading device and has diminished precision due to grainsize effect, especially on rock samples where peak results represent a window of

Rock chip samples were assayed by Intertek Genalysis in Perth, Western Australia and were crushed and pulverized and assayed for Au by four acid digest and 50 g charge fire assay FA50/OE and for 48 multielement using four acid digest – MS finish (4A/MS). QAQC protocols included 12 standards and blanks in the two batches with Morto Lago rock chip samples, representing 10% QAQC. No QAQC issues were detected. All relevant data was verified by a qualified person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (" NI 43-101 ") by reviewing analytical procedures undertaken by Intertek Genalysis.

Table 1 – All rock chip samples from the Morto Lago subcrop

Sample Description Easting Northing Au ppm
W10753 Grey quartz vein sub crop with 5 % sulphides weak brecciation 509116 7698569 6.631
W10712 Sub crop of brecciated quartz vein sub crop with gossanous selvage 509137 7698599 4.542
W10755 Sulphidic quartz vein selvage 509117 7698574 0.866
W10754 Quartz vein with red fe-ox and minor malachite 509119 7698576 0.222
W10714 Quartz vein subcrop, with disseminated sulphides and malachite 509093 7698629 0.208
W10711 Subcrop of massive Fe rock 509127 7698596 0.002

QP STATEMENT

Dr. Quinton Hennigh (P.Geo.) is the qualified person, as defined under NI 43-101, responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is the non-executive co-chairman and a director of Novo.

ABOUT NOVO

Novo operates its flagship Beatons Creek Project while exploring and developing its prospective land package covering approximately 11,000 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.

" Michael Spreadborough "

Michael Spreadborough

Executive Co-Chairman and Acting CEO

Forward-looking information

Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, that DHEM will be conducted on all nickel targets drilled at Bushmill. These 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, customary risks of the resource industry and the risk factors identified in Novo's management's discussion and analysis for the three-month period ended March 31, 2022, which is available under Novo's profile on SEDAR at www.sedar.com. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, Novo assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If Novo updates any forward-looking statement(s), no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements.

___________________________
1
Refer to the Company's news release dated
November 30, 2021 .


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NVO.WT:CA
Novo Completes Full Repayment and Retirement of US$40 Million Sprott Lending Credit Facility

Novo Completes Full Repayment and Retirement of US$40 Million Sprott Lending Credit Facility

Novo Resources Corp. ( "Novo" or the "Company" ) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to advise that it has completed repayment of its senior secured US$40 million credit facility (" Credit Facility ") with Sprott Resource Lending Corp. (" Sprott ") subsequent to the completion of the sale of the Company's New Found Gold Corp. investment 1 . The Company is now free of long-term borrowings, with an unaudited consolidated cash balance of C$76.6 million.

The Company paid an aggregate amount of US$40,144,029 to Sprott in satisfaction of all amounts outstanding, including all accrued interest, on the Credit Facility. No early repayment penalties were paid. The Company is in the process of discharging all security previously granted to Sprott in connection with the Credit Facility.

ABOUT NOVO

Novo operates its flagship Beatons Creek project while exploring and developing its prospective land package covering approximately 11,000 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.

" Michael Spreadborough "

Michael Spreadborough

Executive Co-Chairman and Acting CEO

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Beatons Creek Fresh Approvals Update

Beatons Creek Fresh Approvals Update

Novo Resources Corp. ( "Novo" or the "Company" ) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) advises that the Chair of the Western Australian Environmental Protection Authority (the " EPA ") has determined that the Company's approvals submission regarding the Fresh mineralization component of the Company's Beatons Creek gold project (" Beatons Creek ") does not require assessment under Part IV of the Western Australian Environmental Protection Act 1986 .

The Company will now promptly initiate discussions with the Western Australian Department of Mines, Industry Regulation and Safety (" DMIRS ") to seek approval to mine the Beatons Creek Fresh mineral resource. The Company expects to transition to Phase Two mining of the Beatons Creek Fresh mineral resource upon receipt of requisite approval from DMIRS and a make final investment decision post receipt of results of the feasibility study 1 .

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Nullagine Gold Production Update

Nullagine Gold Production Update

  • No lost-time injuries were recorded during Q2 2022 or H1 2022
  • Q2 2022 production of 12,610 oz Au, which totals 25,988 oz Au for H1 2022 and is in line with revised guidance0F 1
  • Q2 2022 revenue of C$29.7 million (A$32.6 million)1F 2 from the sale of 12,378 oz Au
  • Q3 2022 production forecast of 9 – 11 koz Au, with drawdown of inventory expected to add an additional 1 koz Au in Q4 2022 as Phase One Oxide operations at Beatons Creek wind down through October 2022 1
  • Cash balance as at June 30, 2022 of C$74.8 million 2 , which will support ongoing and extensive exploration programs and completion of resource and extension drilling at the Beatons Creek Fresh mineral resource 1
  • Novo still awaiting a response from the Western Australian Environmental Protection Authority on requisite approval pathway to commence Phase Two operations of the Fresh mineral resource at Beatons Creek 1
  • Beatons Creek Fresh mineral resource feasibility study progressing as planned and expected to be completed in Q4 2022 3

Table 1: Key Operational and Financial Figures 2

Q4 2021 Q1 2022 Q2 2022
Mining (tonnes) 434,133 395,824 421,981
Processing (tonnes) 395,310 394,382 398,830
Grade (g/t Au) 1.16 1.15 1.02
Recovery (%) 91.5% 91.4% 93.5%
Gold Production (oz Au) 12,833 13,378 12,610
Revenue (C$M) $29.9 $31.9 $29.7
Cash and Cash Equivalents (C$M) $32.5 $22.0 $74.8

Novo Resources Corp. ( "Novo" or the "Company" ) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) provides a 2022 second quarter (" Q2 2022 ") operational update from the Beatons Creek gold project (" Beatons Creek ") and the Golden Eagle processing facility (" Golden Eagle Plant "), located in Nullagine, Western Australia.

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Novo Announces AGM Results

Novo Announces AGM Results

Novo Resources Corp. ( "Novo" or the "Company" ) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) reports that all resolutions proposed to shareholders at the annual general meeting of shareholders held today passed, including the election of all of the director nominees listed in the management information circular dated May 2, 2022. Voting as to each of the director nominees was as follows:

Name of Nominee Votes Cast
FOR
% Votes Cast
FOR
Votes
WITHHELD
% of Votes
WITHHELD
Michael Barrett 54,210,700 82.164% 11,768,097 17.836%
Ross Hamilton 61,310,782 92.925% 4,668,015 7.075%
Quinton Hennigh 60,269,166 91.363% 5,697,631 8.637%
Michael Spreadborough 61,249,282 92.857% 4,711,515 7.143%
Amy Jo Stefonick 64,793,834 98.230% 1,167,563 1.770%

Refer to the report of voting results filed today under Novo's profile at www.sedar.com for further details.

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Mechanical Sorting Program Update

Mechanical Sorting Program Update

KEY POINTS

  • Phase Two mechanical sorting trial completed using samples from Comet Well, Purdy's Reward, and Egina using Novo's wholly-owned Steinert KSS 100F LIXT fine mechanical sorting unit (" Sorter ")
  • Results from the Phase Two trial confirm that strong upgrade ratios can be achieved by running lower grade material through the Sorter in line with results from higher grade material
  • Phase Three trial at Comet Well will be deferred to H1 2023
  • Novo to prioritize immediate attention to developing the Fresh mineral resource at the Beatons Creek Gold Project (" Beatons Creek ") and high-potential exploration programs

Novo Resources Corp. ( "Novo" or the "Company" ) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) provides an update on its mechanical sorting program.

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NOMAD ROYALTY COMPANY RECEIVES COURT APPROVAL FOR ARRANGEMENT WITH SANDSTORM GOLD LTD.

NOMAD ROYALTY COMPANY RECEIVES COURT APPROVAL FOR ARRANGEMENT WITH SANDSTORM GOLD LTD.

Nomad Royalty Company Ltd. (TSX: NSR) (NYSE: NSR) (" Nomad " or the " Company ") is pleased to announce that the Superior Court of Québec has issued a final order approving the previously announced acquisition of the Company by Sandstorm Gold Ltd. (the " Purchaser ") by way of a plan of arrangement in accordance with the Canada Business Corporations Act (the " Arrangement "). Pursuant to the terms of the Arrangement, the Purchaser will acquire all of the outstanding shares of the Company for a consideration of 1.21 common shares of the Purchaser per Nomad share.

The Company has now received all regulatory and competition approvals required to complete the Arrangement. Subject to the satisfaction or waiver of the remaining conditions to closing contained in the arrangement agreement dated May 1, 2022 between the Company and the Purchaser, the Arrangement is expected to be effective on or about August 15, 2022 .

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JAZZ RESOURCES INC. Announces a Private Placement Offering of Convertible Debentures and the Expiry of Certain Mineral Claims

JAZZ RESOURCES INC. Announces a Private Placement Offering of Convertible Debentures and the Expiry of Certain Mineral Claims

(TheNewswire)

August 11, 2022 TheNewswire - Vancouver, British Columbia, Canada Jazz Resources Inc. (the " Company " or " JZR ") (TSXV:JZR) is pleased to announce that it intends to undertake a non-brokered private placement offering of convertible debentures (the " Debentures ") to raise gross proceeds of up to $1,000,000 (the " Offering ").  The principal sum of each Debenture will be $1,000.  The Debentures will bear interest at a simple rate of eight percent (8%) per annum and will mature on the date that is two (2) years from the date of issuance (the " Maturity Date "). For the first year of the term of the Debentures, interest will be paid in arrears in cash to the holders of the Debentures on the earlier of the conversion date or the date of the first anniversary of the Debentures. For the second year of the term of the Debentures, interest will be paid in arrears in cash on the earlier of the conversion date and the Maturity Date for interest accrued during the second year. The principal amount of the Debentures may, at the election of the holders and at any time prior to the Maturity Date, be converted into common shares in the capital of the Company (the " Conversion Shares ") at a conversion price of $0.85 per Conversion Share.  The Debentures will be offered pursuant to one or more prospectus exemptions set out in National Instrument 45-106 Prospectus Exemptions .

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GCM Mining Announces Second Quarter and First Half 2022 Results

GCM Mining Announces Second Quarter and First Half 2022 Results

GCM Mining Corp. (TSX: GCM; OTCQX: TPRFF) announced today the release of its unaudited interim condensed consolidated financial statements ("Financial Statements") and accompanying management's discussion and analysis (MD&A) for the three and six months ended June 30, 2022. All financial figures contained herein are expressed in U.S. dollars ("USD") unless otherwise noted. Non-GAAP financial performance measures in this press release are identified with " NG ". For a detailed description of each of the non-GAAP measures used in this press release and a detailed reconciliation to the most directly comparable measure under IFRS, please refer to the Company's MD&A.

Second Quarter and First Half 2022 Highlights

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ALEXCO ANNOUNCES SECOND QUARTER 2022 RESULTS

ALEXCO ANNOUNCES SECOND QUARTER 2022 RESULTS

(All amounts in CDN$ unless otherwise indicated)

Alexco Resource Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco" or the "Company") today reports financial results for the three and six month periods ended June 30, 2022 (" Q1 2022 " and " YTD 2022 ") compared to the three and six month periods ended June 30, 2021 (" Q2 2021 " and " YTD 2021 ").

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FREEGOLD ANNOUNCES THE WITHDRAWAL OF SOUTH32 FROM THE SHORTY CREEK OPTION AGREEMENT

FREEGOLD ANNOUNCES THE WITHDRAWAL OF SOUTH32 FROM THE SHORTY CREEK OPTION AGREEMENT

Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) (Freegold) announces that South32 Limited (South32) has provided notice of its intention and election not to further fund any further Tranche Payments as defined in, and in terms of, the Option Agreement, and accordingly the Option Agreement has been terminated. Shorty Creek lies approximately 125 road km northwest of Fairbanks, Alaska and 4 kms to the south of the abandoned mining town of Livengood and the all-weather paved Elliott Highway.

The work funded by South32 over the last three years, has provided additional understanding of the mineralization at Shorty Creek with most of the work focused outside of the Hill 1835 target area, where Freegold previously focused its attention. The Hill 1835 area covers a 1,000 metre by 1,500 metre target area with copper mineralization associated with the magnetic high. Additional work by Freegold is expected to focus on the geochemical anomalies, with coincident magnetic highs located throughout the project area as well as additional follow-up in the Hill 1835 Area.

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Satori Reports 29.06 g/t Gold over 5.85 Metres in Latest South Zone Drill Holes

Satori Reports 29.06 g/t Gold over 5.85 Metres in Latest South Zone Drill Holes

Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company") is pleased to announce the latest drill results from the spring exploration drilling at the 100%-owned Tartan Lake deposit near Flin Flon, Manitoba. Satori's winter drill program focused on shallow holes targeting extensions of the South Zone mineralization down plunge to the west and initial drilling of the McFadden target, a broad area of intense quartz carbonate veining located approximately 1,600 metres south of the South Zone.

Table 1.0 summarizes the drill results from the South Zone drill holes. The most significant intersection was reported in hole TLSZ22-21 which intersected 29.06 g/t Au over 5.85 metres and included 198.5 g/t Au over 0.80 metres. Coarse visible gold was observed in the drill core.

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