Novo Options New Tenements Near Beatons Creek Project
VANCOUVER, BC / TheNewsire / August 12, 2015 - Novo Resources Corp. (TSX-V: NVO; OTCQX: NSRPF) ("Novo" or the "Company") is pleased to announce that it has entered into an option agreement with Talga Resources Ltd. , an Australian Stock Exchange listed company, for the right to explore its Talga Talga, Warrawoona, and Mosquito Creek projects (each a "Talga Project" and, collectively, the "Talga Projects"). A payment of AU$50,000 was made to Talga Resources for an initial option period of 4 months. The option period can be extended to the second anniversary of this agreement by making a second payment of AU$200,000 at four months. Novo has the right to then purchase at any time until the second anniversary any of the Talga Projects for AU$250,000 per Talga Project.
"We are pleased to acquire an option to explore Talga Resources' Talga Talga, Warrawoona and Mosquito Creek projects," commented Dr. Quinton Hennigh, President, CEO and director of Novo. Historic prospecting and mining on these tenements has focused on orogenic lode gold mineralization. Although this is a different style of mineralization to the conglomerate hosted gold we have at Beatons Creek, gold from these three projects is known to be coarse grained and potentially amenable to gravity separation. Our hope is that with some diligent exploration, we might discover resources that could complement our Beatons Creek project."
Dr. Quinton Hennigh, a Qualified Person as defined by National Instrument 43-101 and the Company's Chief Executive Officer, President and a director, has approved the technical contents of this news release.
About Novo Resources Corp.
Novo's focus is to evaluate, acquire and explore gold properties. Indirect subsidiaries of Novo hold a 100% interest in the core of the Beatons Creek project and a 70% interest in approximately 1,800 square kilometers surrounding Beatons Creek and at nearby Marble Bar in the Pilbara region, Western Australia. 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
CEO and President
Forward-looking information
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, the statement that the Company hopes that it might discover resources on the Talga Projects. 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, the ability to undertake and complete the planned exploration activities, the receipt of successful results as exploration proceeds, customary risks of the mineral resource exploration industry, dependency upon third parties, assumptions made by management of Novo, as well as Novo having sufficient cash to fund the planned drilling and other activities.
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.
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