Novo Acquires Stake in ASX-Listed GBM Resources Limited and Option Over Malmsbury Gold Project - Seite 3

“We are delighted to reach this option-to-purchase/joint venture and share swap agreement with GBM Resources,” said Dr. Quinton Hennigh, Novo’s president and chairman. “The Malmsbury district hosts one of the closest geologic analogues to the high-grade Fosterville epizonal orogenic gold deposit approximately 50 km to the north. Like Fosterville, Malmsbury is situated along the eastern margin of the Bendigo belt, displays high-level vuggy quartz vein textures, elevated antimony and high gold grades. Historic production from the main part of the Malmsbury district totaled about 90,000 ounces of gold at grades of about one ounce per tonne of gold. This transaction also provides Novo a strategic stake in GBM whose technical team has a track record of discovery. We will be eager to watch them pursue exploration at their other high quality targets.”

“We are delighted to have entered into the Transaction with a quality partner like Novo Resources,” commented Mr. Peter Rohner, managing director and CEO of GBM. “Novo’s chairman and president, Dr. Quinton Hennigh, brings significant knowledge to our exploration efforts. Importantly the JV model enables GBM to accelerate exploration of its highly prospective Malmsbury gold project while focusing GBM’s treasury on the key Mt Coolon epithermal gold field and the opportunity for early cash flow from our earn in on the White Dam heap leach operation at a time of record Australian dollar gold prices.”

Dr. Quinton Hennigh, P. Geo., the Company’s president, chairman, and a director, and a qualified person as defined by National Instrument 43-101, has approved the technical contents of this news release.

About Novo Resources Corp.

Novo’s focus is primarily to explore and develop gold projects in the Pilbara region of Western Australia, and Novo has built up a significant land package covering approximately 13,000 sq km with varying ownership interests. 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 [phone] or e-mail [e-mail]