Australian innovative gold explorer and - Corporate Presentation September 2021 - Novo Resources
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Golden Eagle Processing Facility, Nullagine, Western Australia
Australian
innovative gold
Corporate Presentation explorer and
September 2021 producer delivering
TSX: NVO / OTCQX: NSRPF stakeholder value
Cautionary Statement
Cautionary Note to U.S. Investors Cautionary Note Concerning Technical Disclosure and U.S. Securities Laws
This presentation does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of This presentation has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the
Novo Resources Corp. (“Novo” or the “Company”) have not been and will not be registered under the United States Securities Act of 1933, as requirements of U.S. securities laws. Unless otherwise indicated, all resource and reserve estimates included in this presentation have been
amended (the “1933 Act”) or any U.S. state securities laws and may not be offered or sold within the United States without registration prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). The definitions used in NI
under the 1933 Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. 43-101 are incorporated by reference from the Canadian Institute of Mining, Metallurgy, and Petroleum (“CIM”) - Definition Standards
adopted by CIM Council on May 10, 2014 (the “CIM Definition Standards”).
Forward-Looking Statements
The U.S. Securities and Exchange Commission (the “SEC”) adopted amendments to its disclosure rules to modernize the mineral property
This presentation includes certain statements that constitute "forward-looking information” “forward-looking statements” within the disclosure requirements for issuers whose securities are registered with the SEC under the Securities Exchange Act of 1934, as amended.
meaning of Canadian and United States securities laws (collectively, “forward-looking statements"). These statements appear in a number of These amendments became effective February 25, 2019 (the “SEC Modernization Rules”) with compliance required for the first fiscal year
places in this presentation and include statements regarding the intent of Novo, or the beliefs or current expectations of the Company’s beginning on or after January 1, 2021. The SEC - 3 - Modernization Rules replace the historical disclosure requirements for mining registrants
management. When used in this presentation, words such as “intends”, “expects”, “will be”, “underway”, “targeted”, “planned”, “objective”, that were included in SEC Industry Guide 7, which has been rescinded. As a result of the adoption of the SEC Modernization Rules, the SEC
“expected”, “potential”, “continue”, “estimated”, “would”, “subject to” and similar expressions are intended to identify these forward- now recognizes estimates of “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources”. Investors are
looking statements. Forward-looking statements made herein include, without limitation, statements derived from the technical report titled cautioned that while the above terms are “substantially similar” to the corresponding CIM Definition Standards, there are differences in the
“Preliminary Economic Assessment on the Beatons Creek Gold Project, Western Australia” dated April 30, 2021 (effective date February 5, definitions under the SEC Modernization Rules and the CIM Definition Standards. Accordingly, there is no assurance any mineral resources
2021) (the “2021 Beatons Creek Technical Report”) prepared by Jason Froud (BSc Hons, Grad Dip (Fin Mkts), MAIG), Andrew Grubb (BE that the Company may report as “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” under NI 43-
(Mining), FAusIMM), and Ian Glacken (BSc Hons, MSc (Mining Geology), MSc (Geostatistics) PGCert (comp), DIC, FAusIMM(CP), FAIG, CEng, 101 would be the same had the Company prepared mineral resource estimates under the standards adopted under the SEC Modernization
MIMMM) of Optiro Pty Ltd of Perth, Australia, and William George Gosling (BE (Extractive Metallurgy), FAusIMM) of GR Engineering Services, Rules. Investors are also cautioned that while the SEC will now recognize “measured mineral resources”, “indicated mineral resources” and
also of Perth, Australia in respect of the Company’s Beatons Creek gold project (the “Beatons Creek Project”). This presentation also includes “inferred mineral resources”, investors should not assume that any part or all of the mineralization in these categories will ever be converted
forward-looking statements relating to the Company’s anticipated exploration and operational plans. Although the Company believes that into a higher category of mineral resources or into mineral reserves. Mineralization described using these terms has a greater amount of
the expectations reflected in the forward-looking statements are reasonable, such statements involve known and unknown risks, uncertainty as to its existence and feasibility than mineralization that has been characterized as mineral reserves. Accordingly, investors are
uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking cautioned not to assume that any “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources” that the
statements, including, without limitation: risks relating to the ongoing COVID-19 pandemic and measures intended to prevent its spread; the Company reports are or will be economically or legally mineable. Further, “inferred mineral resources” have a greater amount of uncertainty
fluctuating price of gold; success of exploration, development and operations activities including but not limited to the ability to advance as to their existence and as to whether they can be mined legally or economically. Therefore, investors are also cautioned not to assume that
exploration efforts at the Company’s exploration assets (the “Additional Novo Projects”); and the results of exploration efforts at the all or any part of the “inferred mineral resources” exist. In accordance with Canadian securities laws, estimates of “inferred mineral
Additional Novo Projects; health, safety and environmental risks; uncertainties inherent to economic studies, including the preliminary resources” cannot form the basis of feasibility or other economic studies, except in limited circumstances where permitted under NI 43-101.
economic assessment referred to herein (the “PEA”); the absence of any pre-feasibility or feasibility level studies for the Beatons Creek For the above reasons, information contained in this presentation describing the Company’s mineral deposits may not be comparable to
Project; variations in the estimation of mineral resources; uncertainty relating to mineral resources; the potential of cost overruns; risks similar information made public by United States companies subject to the reporting and disclosure requirements under the United States
relating to government regulation; the impact of Australian laws regarding foreign investment; access to additional capital; liquidity risk; risks federal securities laws and the rules and regulations thereunder.
relating to native title and Aboriginal heritage; risks relating to the construction and development of new operations; the availability of
adequate infrastructure; the availability of adequate energy sources; seasonality and unanticipated weather conditions; limitations on Cautionary Statement Regarding Production Decisions
insurance coverage; the prevalence of competition within the industry; currency exchange rates (such as the United States dollar and the
Australian dollar versus the Canadian dollar); risks associated with foreign tax regimes; risks relating to potential litigation; risks relating to The decision to commence production at the Beatons Creek Project and the intention to produce at other properties have not been based
the dependence of the Company on outside parties and key management personnel; risks in the event of a potential conflict of interest; as on a feasibility study of mineral reserves demonstrating economic and technical viability, and, as a result, there is an increased uncertainty
well as those risk identified in the Company's periodic filings with Canadian securities regulators including, without limitation, those identified of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a
in Novo’s annual information form for the 11-month fiscal year ended December 31, 2020 and Novo’s management’s discussion and analysis commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee
for the 11-month fiscal year ended December 31, 2020, both of which are available under the Company’s profile on SEDAR that that anticipated production costs will be achieved. Failure to achieve the anticipated production costs would have a material adverse
at www.sedar.com. Estimates regarding the anticipated timing, amount and cost of exploration and development activities are based on impact on Novo’s cash flow and future profitability.
numerous factors including but not limited to assumptions underlying mineral resource estimates and the realization of such estimates.
Capital and development cost estimates are based on extensive research of the Company, recent estimates of development and operating Technical Information
costs and other factors. The forward-looking statements are based largely on current expectations and projections about future events and
financial trends affecting the financial condition of the Company’s business. While the Company considers these assumptions to be Dr. Quinton Hennigh, the Company’s non-executive co-chairman and a director, is the qualified person, as defined in NI 43-101, who has
reasonable based on information currently available, they may prove to be incorrect and actual results could differ materially from those reviewed, approved and verified the technical content of this presentation. All technical information related to the Beatons Creek Project is
contemplated in the forward-looking statements. Therefore, undue reliance should not be placed on forward-looking statements since the based on the 2021 Beatons Creek Technical Report which is available under Novo’s profile on SEDAR at www.sedar.com.
Company can give no assurance that such expectations will prove to be correct. Forward-looking statements speak only statements made as
at September 7, 2021. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the
results of any change to any forward-looking statement contained herein to reflect actual results, future events or developments, changes in
assumptions or changes in other factors affecting the forward-looking statements. If the Company updates any one or more forward-looking
statements, no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking
statements.
Innovation in exploration and production stakeholder value 2
Australian Innovative Gold Explorer and Producer
Our Strategy • Targeting production of ~ 100 koz/year using
1. Discover gold projects that support the 1.8 Mtpa Golden Eagle Processing Facility
long-life, low-cost production with initial focus on the Beatons Creek
conglomerate gold project
2. Develop pathway to a mid-tier gold
company with > 250 koz/year • Advancing the Comet Well, Purdy’s Reward,
production and Egina Conglomerate Gold Projects using
mechanical sorting with production targeted for
3. Apply innovation to gold discovery
H1 2023
and production
• Exploring for gold mineral resources within our
4. Invest in prospective gold projects
significant 13,000 km2 Pilbara tenements
• Identifying gold project opportunities outside of
the Pilbara with initial focus in Victoria, Australia
• Using innovation to develop Pilbara gold
projects from discovery to production
• Defining base metals (copper, nickel) and
lithium targets across our Pilbara tenements
• Investing in prospective gold projects with a
current ~ C$150M strategic investment portfolio
• Maintaining a well funded balance sheet with
supportive strategic major shareholders
Innovation in exploration and production stakeholder value 3
Our Strategy is Delivering Stakeholder Value
Our Vision
Australian focused innovative mid-tier gold company
Our Stakeholders
Our Expertise
Shareholders
Exploration
Employees
Development Stakeholder
Traditional Owners
Production Value
Community
Innovation
Government
Sustainability
Suppliers
Our Approach
Working with all stakeholders
Attracting smart people
Commitment to ESG
Culture of innovation
Strive to achieve excellence
Achieving for ‘win-win’ relationships
Innovation in exploration and production stakeholder value 4
ESG Performance is a Core Value
• Safety
• Safe transition to production
Novo is adopting the World Gold
• Established operational safety culture
Council Responsible Gold Mining
• Ethics and governance
Principles.
• Development and implementation of robust standards,
We plan to publish our inaugural
including code of conduct and whistleblower policy Sustainability Report in 2022
• Community engagement
• Maximise Pilbara region procurement of goods and
services
• ‘Win – win’ relationships with the Nullagine community and
Pilbara Native Title groups
• Investment in community programs - cultural, academic,
and sport
• Diversity and inclusion
• Policies support a diverse and inclusive workforce
• 23% of workforce female, of which 18% hold leadership
roles
• Environmental stewardship
• Focus on ensuring compliance with conditions of
environmental and regulatory approvals
• Greenhouse gas emission minimisation
Innovation in exploration and production stakeholder value 5
Strong Balance Sheet & Strategic Shareholders
Share Structure Shareholder Breakdown %
Share Price (Aug 31 '21) TSX: NVO (C$) $1.90 Eric Sprott 9.36%
Basic Shares Outstanding (M) 245.9 IMC 8.31%
Stock Options (M) 12.6 Creasy Group 5.62%
Warrants (M) 24.7
GDXJ 4.18%
Fully Diluted Shares Outstanding (M) 283.2
New Found Gold Corp. 2.83%
Market Cap (Basic) (C$M) $467.29
Newmont 2.42%
Cash Balance1 (Aug 31 '21) (C$M) $52.7
Marketable Securities2 (Aug 31 '21) (C$M) $149.8 Management & Directors 1.32%
Sprott Debt3 (US$40M) (Aug 31 '21) (C$M) $50.5 Free Float 65.95%
$450 $4.50
S&P/TSX Global Gold Index (C$)4
$4.00
$400 $3.50
$3.00
TSX: NVO (C$)
$350
$2.50
$2.00
$300
$1.50
$250 $1.00
$0.50
$200 $-
31-Aug-20 30-Nov-20 28-Feb-21 31-May-21 31-Aug-21
S&P/TSX Global Gold Index TSX: NVO
1. Includes cash and short-term deposits. 2. See page 21. 3. US$-C$ FX 1.2617 @ Aug 31 ‘21. 4. S&P/TSX index details available here.
Innovation in exploration and production stakeholder value 6
Experienced Directors & Senior Management
Dr. Quinton Hennigh Mr. Michael Spreadborough Mr. Rob Humphryson
Non-Executive Co-Chairman & Director Executive Co-Chairman & Director CEO & Director
Denver, CO, USA Perth, WA, Australia Perth, WA, Australia
Mr. Michael Barrett Mr. Ross Hamilton Ms. Amy Jo Stefonick
Lead Independent Director Independent Director Independent Director
Perth, WA, Australia Perth, WA, Australia Denver, CO, USA
Mr. Ronan Sabo-Walsh Mr. Leo Karabelas Mrs. Kas De Luca
CFO & Corporate Secretary VP, Corporate Communications GM Exploration
Perth, WA, Australia Toronto, ON, Canada Perth, WA, Australia
Innovation in exploration and production stakeholder value 7
Pilbara Gold Producer and Significant Landholder
De Grey Mining
(ASX: DEG) Kairos Minerals
Mallina Gold Project (ASX: KAI)
+ Hemi Discovery Mt. York Project
Artemis Resources 9.0Moz Au1
KARRATHA 0.9Moz Au1
(ASX: ARV)
Carlow Castle Project
0.4Moz Au1
Talga Talga
West Pilbara Project MARBLE BAR
Egina Project
Calidus Resources
PANNAWONICA (ASX: CAI)
Warrawoona Project
1.5Moz Au1 Golden Eagle
Production – H1 ‘221 NULLAGINE
Processing
Facility
Millennium Minerals
(acquired by Novo Sep ‘20)
Historical production 0.5Moz Au1
South Pilbara Project
TOM PRICE
East Pilbara Project
PARABURDOO
Capricorn Metals
Northern Star (ASX: CMM)
(ASX: NST) Karlawinda Project
Paulsens 2.1Moz Au1
0.2Moz Au1 NEWMAN
Production – July ‘211
Historical production 0.9Moz Au1
Kalamazoo
(ASX: KZR)
Ashburton Project
1.6Moz Au1
1. Refer to each company’s public disclosure documents, including resource and reserve statements.
Innovation in exploration and production stakeholder value 8
Pilbara Gold Production Strategy
Beatons Creek Conglomerate gold
Conglomerate Gold projects > 100 km from
Project Golden Eagle suitable for
First gold pour Feb 2021 mechanical sorting, with
with targeted production Golden key focus being the Comet
100 koz/year Eagle Well, Purdy’s Reward, and
Egina deposits
Processing
Facility
Orogenic gold projects
Gold projects within > 100 km from Golden
50 km of Golden Eagle Eagle with high grades or
with ‘brownfields’ suitable for mechanical
exploration accelerated sorting, with current focus
from late 2021 1.8 Mtpa conventional gold
processing plant purchased in 2020. being the Talga Talga
Strategically located for our Pilbara deposit
tenements with nearest alternative
facility 300 km away
High quality gold mineralisation – build ten year mine plan > 1.5 Mozs Au1
Significant exploration upside – grow resource to > 2 Mozs Au1
Strong IP – mechanical sorting, innovative exploration and bulk sampling processes
Mechanical sorting alleviating need for additional processing facilities
1. There is no certainty that the Company will be able to generate a ten year mine plan with more than 1.5 million oz
Au, nor is there any certainty that the Company will be able to grow its resource base to more than 2 million oz Au.
Innovation in exploration and production stakeholder value 9
Extensive Golden Eagle Infrastructure
Novo’s Beatons Creek Project TSF Admin Buildings Power Station Processing Facility
230 room camp
1.5 Mtpa nameplate capacity (operating at 1.8 Mtpa)
Gold conventional gold gravity/CIL processing facility, 4MW
Processing SAG mill, on-site laboratory, 10MW power station, fully
Facility permitted TSF. Minor modifications underway to process
mechanical sorter products
Significant wet season 2020/2021 has filled dormant pits
Water
and recharged extensive existing borefields
Admin
Buildings & 230 room camp and admin offices
Camp
Nullagine is a 2 hours drive north of the major iron ore
Logistics mining center of Newman with a full-service airport with
multiple flights from and to Perth every day
Innovation in exploration and production stakeholder value 10Landholding Supports Golden Eagle Gold Production
Strategic
accumulation of
tenement Novo NGP Tenure
package within 2017 – 221 sq km
trucking distance 2021 – 1,796 sq km
of Golden Eagle
Processing
Facility – first
time this land
package has
been in the 2017
hands of a single
owner
Significant
exploration
upside across the
consolidated Golden Eagle
tenement Processing Facility
package
2021
Innovation in exploration and production stakeholder value 11Beatons Creek Conglomerate Gold Project
• 457 koz Au indicated resources @ 2.1 g/t Au and
446 koz Au inferred resources @ 3.2 g/t Au1
• Open pit contract mining with mill feed trucked 12 km to
Golden Eagle Processing Facility
• Integrating ChrysosTM PhotonAssay technology2
providing assaying in nuggety gold deposit for mining ~9.5km as the crow flies
optimisation
• Mined grade and gold production has been variable
reflecting nature of conglomerate deposit, accuracy of
resource estimation, batch processing of various
mineralised material and mining comparison between
selective and bulk mining. This trend will continue for
the year as different approaches are taken to optimize
gold production from this style of mineralisation Novo Quarterly Production YTD3
• Processing at 1.8 Mtpa (higher mining and processing 20,000
Estimated
rates than original plan) with gold recoveries averaging
93.7%3 and peaking at 96.4%3 with gold gravity circuit 15,000
recovery averaging 59%
Oz Au 10,000
First gold
• Mine Plan update due early 2022 and to include near pour in
mine resources with production target of ~100 koz/year 5,000 Feb 2021
• Significant growth potential from exploration within 50 -
km of the Golden Eagle Processing Facility Q1 2021 Q2 2021 Q3 2021
1. Refer to the 2021 Beatons Creek Technical Report. 2. Refer to the Company’s news release dated May 18, 2021. 3. Refer to the
Company’s news release dated August 5, 2021.
Innovation in exploration and production stakeholder value 12West Pilbara and Egina Conglomerate Gold Projects
• Comet Well, Purdy’s Reward, and 47K have a
large strike, 4km of shallow, highly prospective
gold mineralized conglomerates
• Transformational use of mechanical sorting
for ‘on-site’ high grade concentration of mill feed
prior to transport to the Golden Eagle
Processing Facility
• Low capital and very low operating cost
• No requirement for major construction, tailings
storage facilities and complex approvals
• Simple conventional mining operation
• Phase 1 trials confirmed concept using small
sample size
• Phase II trials to commence in H2 2021 using
larger Comet Well, Purdy’s Reward, and Egina
samples with mechanical sorter located at
Golden Eagle
• Samples from gold occurrences across our Pilbara
tenements (Talga Talga, Virgin Creek, Contact
Creek) will be tested for mechanical sorting
• Phase III demonstration trials to be conducted
at Comet Well and Egina in H1 2022 with
targeted production in H1 2023 Comet Well, Purdy’s Reward, 47K, and Egina mechanical sorting high grade
concentrate to be transported to Golden Eagle Processing Facility
Innovation in exploration and production stakeholder value 13Focused Strategy for Growth through Discovery
PRIORITY 1 PRIORITY 2 PRIORITY 3
Conglomerates Direct mill feed within Suitable for mechanical Sulphide conglomerate
50 km sorting targets
Orogenics / basement Oxide mill feed within Oxide mill feed within Sulphide mill feed targets
targets 50 km 150 km
JVs Supporting existing JVs Other JVs in WA or Victoria Other JVs in Australia
Base Metals and other Rank prospectivity of Base metal surface targets Base metal deep targets
commodities existing tenements
Project Generation High priority oxide mill feed Tier 1 targets outside Tier 1 targets in Australia
within 50 km current tenure WA or Vic
ONGOING TENEMENT MANAGEMENT TO OPTIMISE PORTFOLIO
WORK ON VARIOUS TARGETS IN EACH PRIORITY AREA AT DIFFERENT STAGES OF MATURITY
Innovation in exploration and production stakeholder value 14Nullagine Gold Project Growth Potential
Highly prospective
land holding in the
Nullagine District
Novo consolidated
tenure now >1,800
km sq
Significant near-
mine exploration
potential1
Already over 20
orogenic high
priority drill targets
in trucking distance
to the Golden
Eagle Processing
Facility
Targeting >100koz
oxide in 2022
Additional
conglomerate ore
targets around
Beatons Creek
1. Refer to the Company’s news release dated June 3, 2021.
Innovation in exploration and production stakeholder value 15East Pilbara Exploration Potential
Drill programs in
2021 at Talga Talga
to test coarse gold
orogenic vein
system
Contact Creek and
Virgin Creek with
significant gold in
conglomerate
potential (aka
Beatons Creek)
All three targets
possibly suited to
mechanical sorting
to upgrade gold
mineralization
Phase II sorter
trials commencing
2021 at Nullagine
Gold Project
1. Refer to the Company’s news release dated June 3, 2021.
Innovation in exploration and production stakeholder value 16Egina Conglomerate Gold Exploration
Focus for 2021 on
basement gold
targets (potential for
Hemi style deposits)
Significant
conglomerate
hosted gold targets
remain to be tested
Alluvial terraces
likely contain
remnants of gold
deposits identified
Continue to bulk
sample alluvial style
deposits1 and
conduct phase II
mechanical sorter
trials in 2021
1. Refer to the Company’s news release dated June 3, 2021.
Innovation in exploration and production stakeholder value 17West Pilbara Exploration Potential
Conglomerate
outcrop defined
over 3km strike at
Comet Well &
Purdy’s (phase II
mechanical sorter
trials in 2021)
Follow up
exploration works
planned for 2021 at
47K target
Follow up
exploration
planned for
basement targets1
1. Refer to the Company’s news release dated June 3, 2021.
Innovation in exploration and production stakeholder value 18Significant Base Metals and Lithium Potential
Azure (ASX:
AZS)
Artemis Resources Andover Ni-Cu
(ASX: ARV) discovery1
Carlow Castle
Project 0.4Moz Au
equivalent1 De Grey - Hemi
Andover West
Ni-Cu target
Kairos – Mt York
Calidus - Warrawoona
Bob’s Well
Cunig Gossan Au-
VHMS target
PGE target
East Well
VHMS target
NGP Lithium
Targets
Northern Star - Paulsens
Major Gold Projects
Kalamazoo - Ashburton
Capricorn Metals - Karlawinda
1. Refer to each company’s public disclosure documents, including resource and reserve statements.
Innovation in exploration and production stakeholder value 19Highly Prospective Victoria Exploration Projects
A$1.6M exploration
program, to drill test priority
deep targets, scheduled for
20211
Geological reconnaissance
work ongoing in both JV’s1
50% interest in Malmsbury
Project shared with GBM
Resources (ASX: GBZ)
50% interest in Queens
Project shared with
Kalamazoo Resources
(ASX: KZR)
1. Refer to the Company’s news release dated June 3, 2021.
Innovation in exploration and production stakeholder value 20Significant Strategic Investments1
E3D, $6.5 Calidus, $8.9
Kalamazoo,
$3.4
GBM, $1.2
New Found Gold2
Portfolio
(TSXV: NFG) value* as at
15M common shares
Aug 31 ‘21:
C$150M4
*excludes fair value of warrants of
GBM Resources held by Novo
New Found,
$129.8
Elementum 3D3
(Unlisted) Kalamazoo Resources
2M common shares Calidus Resources (ASX: KZR)
(ASX: CAI) 10M common shares
17M common shares
1. Novo’s ability to dispose of its investments is subject to
certain thresholds pursuant to its senior secured credit
facility with Sprott Private Resource Lending II (Collector),
GBM Resources
LP. 2. Novo’s New Found investment is subject to escrow
requirements pursuant to National Instrument 46-201
(ASX: GBZ)
Escrow for Initial Public Offerings. 3. The value of Novo’s
E3D holdings is based on E3D’s most recent financing
11.3M common shares
price of US$2.50 per share. 4. Based on closing prices and
foreign exchange rates as at August 31 ‘21.
& 5.6M warrants
Innovation in exploration and production stakeholder value 21Australian Innovative Gold Explorer and Producer
Our Strategy • Targeting production of ~ 100 koz/year using
1. Discover gold projects that support the 1.8 Mtpa Golden Eagle Processing Facility
long-life, low-cost production with initial focus on the Beatons Creek
conglomerate gold project
2. Develop pathway to a mid-tier gold
company with > 250 koz/year • Advancing the Comet Well, Purdy’s Reward,
production and Egina Conglomerate Gold Projects using
mechanical sorting with production targeted for
3. Apply innovation to gold discovery
H1 2023
and production
• Exploring for gold mineral resources within our
4. Invest in prospective gold projects
significant 13,000 km2 Pilbara tenements
• Identifying gold project opportunities outside of
the Pilbara with initial focus in Victoria, Australia
• Using innovation to develop Pilbara gold
projects from discovery to production
• Defining base metals (copper, nickel) and
lithium targets across our Pilbara tenements
• Investing in prospective gold projects with a
current ~ C$150M strategic investment portfolio
• Maintaining a well funded balance sheet with
supportive strategic major shareholders
Innovation in exploration and production stakeholder value 22Appendix
Innovation in exploration and production stakeholder value 23Appendix – Beatons Creek Mineral Resource
Reference should be made to the Company’s news release dated March 31, 2021, as well as the technical report entitled “Preliminary Economic Assessment on the Beatons Creek
Gold Project, Western Australia” with an effective date of February 5, 2021, which was prepared for Novo by Jason Froud (BSc Hons, Grad Dip (Fin Mkts), MAIG), Andrew Grubb (BE
(Mining), FAusIMM), and Ian Glacken (BSc Hons, MSc (Mining Geology), MSc (Geostatistics) PGCert (comp), DIC, FAusIMM(CP), FAIG, CEng, MIMMM) of Optiro Pty Ltd of Perth,
Australia, and William George Gosling (BE (Extractive Metallurgy), FAusIMM) of GR Engineering Services, also of Perth, Australia . This technical report is available under the
Company’s profile on the SEDAR website at www.sedar.com (filing date: April 30, 2021) and on the Company’s website at www.novoresources.com.
Innovation in exploration and production stakeholder value 24Contact Information
FOR MORE INFORMATION CONTACT:
Telephone: 1-416-543-3120
E-mail: leo@novoresources.com
www.novoresources.com
Innovation in exploration and production stakeholder value 25You can also read
