VANCOUVER - Novo Resources Corp. ('Novo' or the 'Company') (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to advise that drilling has recently commenced on a number of high-priority gold targets at the Malmsbury Project (RL6587), approximately 50 km SSW of the high-grade Fosterville gold mine.

Targeting has relied on significant exploration work conducted by the Novo/GBM team throughout 2021, including detailed 1:500 scale mapping, rock chip and grid soil sampling, 3D modelling and an airborne FALCON gravity survey.

Novo acquired a 50% interest in the Malmsbury Project from ASX-listed GBM Resources Limited (ASX: GBZ) (' GBM ') in May 2021 and has the initial right to earn up to an additional 10% interest by incurring A$5 million in exploration expenditure over a four-year period 2. GBM are currently managing the project.

The historical results and technical information referred to in this news release, published by AuStar Gold Limited (ASX: AUL) (' AuStar ') and included in geologic reports filed on the GeoVIC Earth Resources website, are not necessarily representative of mineralization throughout the Malmsbury Project. This historical data was disclosed in ASX announcements, other public disclosure documents, and exploration reports filed on the GeoVIC Earth Resources website (collectively, ' Disclosure ') issued by AuStar and others, as identified in the GeoVIC Earth Resources filings. Certain of the technical information contained in this news release has been extracted from this Disclosure. Reference should be made to the relevant Disclosure which is available online at the links provided in various footnotes throughout this news release.

ABOUT NOVO

Novo operates its flagship Beatons Creek gold project while exploring and developing its prospective land package covering approximately 13,250 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.

Contact:

Leo Karabelas

Tel: (416) 543-3120

Email: leo@novoresources.com

Forward-looking information

Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, that the drilling and future work programs described in the news release will be undertaken at the Malmsbury Project. 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 nine-month period ended September 30, 2021, 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.

(C) 2021 Electronic News Publishing, source ENP Newswire