Novo Resources Corp. reported on the key activities carried out by the Company during the Quarter ended June 30, 2025 (June 2025 Quarter). PORTFOLIO: Novo has built a diversified, gold exploration and development portfolio, located across leading mining provinces in Australia and has a mix of greenfields, advanced greenfields, and advanced exploration projects.
The Company has planned detailed drill programs across all key projects and is set to deliver a strong pipeline of news. A dedicated project generation program continues to focus on identifying advanced gold and copper assets to further enhance Novo?s portfolio. NEW SOUTH WALES ?
NEW GOLD PORTFOLIO John Bull Gold Project (Farm-in with TechGen Metals)The John Bull Gold Project (John Bull) is an advanced exploration opportunity, located in the prolific New England Fold Belt of NSW . The tenure consists of two tenements and covers some 32 sq km. The agreement with TechGen Metals Limited (TechGen) grants Novo an option to acquire an 80% interest in the Mick Bull tenement EL9121 and a 70% interest in the John Bull tenement EL8389.
Significant results from Novo?s intensive field campaign at John Bull identified four Key Target Areas for drilling. These targets have been defined by high order soil anomalism, and include mineralised quartz veins within preferred lithology, fault zones with intense sericite alteration and brecciation, and an Induced Polarisation geophysical anomaly co-incident with a major structure. The field campaign resulted in extension of the historical > 100 ppb Au in soil anomaly to ~ 1.5 km strike with a peak soil result of 1.59 g/t Au.
In addition, rock chip sampling returned peak results of 67.9 g/t Au and 29 g/t Au from sheeted quartz veins in NW and NE trending mineralised structural zones, demonstrating potential for high-grade mineralisation. The four Key Target Areas for drilling include:John Bull Main ? three targets are planned for testing within this larger zone: John Bull Breccia Zone - a NE trending zone approximately 100 m long where exploration work yielded high grade rock chip samples including 67.9 g/t Au and three other samples > 5 g/t Au.
This linear trend included two historic shafts. John Bull Shear ? mapping has highlighted strong sericite alteration along a broad NW trending zone of shearing and recent rock chip samples of up to 29 g/t Au.
John Bull Sluicing Area - mapping has delineated an E-W target zone in a fine sandstone-dominant unit, which was the focus for the main historic sluicing and with the broadest zone of high quartz vein density. John Bull South ? includes high grade soil anomalies up to 4.77 g/t Au surrounding and partly overlapping a monzodiorite intrusion, coupled with a large area of historic sluicing for gold.
Hills Creek West ? A coincident IP conductivity anomaly and soil geochemical anomaly with peak value of 2.1 g/t Au occur along a regional NW trending fault.Digger?s North ? a very broad soil anomaly occurs where limited outcrop is present, in an area north of the previous drilling.
Peak soil results include 10.0 g/t Au and soil geochemical anomalies are linear along the major NW trending faults within the broader N-S mineralised corridor. A 1,750 m RC drill program is planned to commence in H2 2025 (drill rig availability dependent), testing these key targets. The recent field campaign also significantly enhanced the understanding of the mineral system at John Bull and strongly supports presence of an Intrusion Related Gold System (IRGS) model.
Element zonation suggests a proximal Sn-Bi-As core centred on a porphyritic intrusion mapped in the SW of the project area, flanked by intermediate Au-Mo-Cu-Sb-Te zones, and surrounded by the distal halo of sheeted veins with an Au-As-Sb-W association. Tibooburra Gold Project (Farm-in with Manhattan Corporation)The Tibooburra Gold Project (Tibooburra) is an advanced exploration opportunity, located in northwestern NSW and covers much of the historic Albert Goldfield. Tenure includes six granted exploration licences over 630 sq km.
The agreement with Manhattan Corporation Limited (Manhattan) grants Novo an option to acquire a 70% interest in the project. Novo met (and exceeded) the required minimum spend of $500,000 at Tibooburra for the initial farm in period under the binding term sheet during June 2025. The Tibooburra Project area itself displays more than 200 historic workings and more than 34 km of mineralised trend on multiple lines of workings.
Several immediate targets have been delineated by previous workers including New Bendigo, Clone, Pioneer, Elizabeth Reef and Good Friday. However, outside of the New Bendigo prospect, little systematic modern exploration has been conducted. The area is significantly under-explored, and satellite imagery and interpretation show abundant cover, particularly in the south.
Novo?s initial exploration at Tibooburra completed in First Quarter 2025 assessed a ~ 3 km trend at the Clone prospect, and recommended RC drilling to test the main area of historical workings where Manhattan had successfully drilled several important intercepts.RC drilling was completed at Clone in May 2025, with 14 holes drilled for 1,984 m on approximately 60 m to 150 m spaced sections. The program was designed to test 500 m strike of Clone in the main area of historical workings, informed by Novo?s geological mapping and sampling and historical drilling by Manhattan.Significant results from the RC drill program include:12 m @ 5.90 g/t Au from 16 m including 5 m @ 13.74 g/t Au from 23 m (TBR0001)17 m @ 2.40 g/t Au from 59 m including 9 m @ 4.14 g/t Au from 59 m (TBR0014)The results show grade and width continuity similar to the original Manhattan RC drilling and support a near-surface shoot of north-plunging high-grade gold mineralisation, now defined over 300 m strike. Drill testing was designed to best intersect interpreted mineralised trends and structures at right angles to minimise bias in sample collection.
All intervals are reported as down hole widths, as true orientation of mineralisation is still unknown. Mineralisation at Clone remains open in all directions, with targeted mineralised basement trending under cover sediments to the south.
