Novo Announces Supplemental Listing of Warrants

Not for Distribution to United States Newswire Services or for dissemination in the United States

Novo Resources Corp. (" Novo " or the " Company ") (TSX-V: NVO) is pleased to announce that the TSX Venture Exchange (the " TSXV ") has accepted for listing 7,476,687 common share purchase warrants. The TSXV has advised that these share purchase warrants will be listed for trading on the TSXV under the symbol "NVO.WT" effective at market open on Tuesday, November 10, 2020.

A total of 17,192,379 subscription receipts (the " Subscription Receipts ") were issued pursuant to the Company's brokered and non-brokered private placements (the " Financings ") which closed on August 27, 2020 ( please see the Company's news release dated August 27, 2020 for further details ). The Financings were completed in conjunction with the acquisition of Millennium Minerals Limited ( please see the Company's news releases dated August 4, 2020 and September 8, 2020 ). Each Subscription Receipt automatically converted into one unit of Novo (an " Unit ") following the issuance of receipts for the Company's final short form prospectuses ( please see the Company's news release dated October 27, 2020 for further details ). Each Unit is comprised of one common share of Novo (a " Share ") and one-half of one Share purchase warrant. Each whole Share purchase warrant (" Warrants ") entitles the holder thereof to acquire one common share of the Company at an exercise price of C$4.40 until August 27, 2023.

Of the 8,596,184 Warrants issued upon conversion of the Subscription Receipts, 1,119,497 are subject to trading restrictions under U.S. securities laws and therefore are not eligible for listing at this time.

The Warrants are governed by a warrant indenture between the Company and Olympia Trust Company dated August 27, 2020, a copy of which is available under the Company's profile at www.sedar.com . Warrant holders with any questions are encouraged to contact Leo Karabelas at leo@novoresources.com or +1-416-543-3120.

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

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.

This news release does not constitute an offer for sale, or a solicitation of an offer to buy, in the United States or to any "U.S Person" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the " 1933 Act ")) of any equity or other securities of Novo. The securities of Novo have not been, and will not be, registered under the 1933 Act or under any state securities laws and may not be offered or sold in the United States or to a U.S. Person absent registration under the 1933 Act and applicable state securities laws or an applicable exemption therefrom.

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