Novo Provides Operational Update From Beatons Creek and Millennium - Seite 2

Commencement of development activities:

• A contract has been awarded to Edwards Mining and Civil (“EMC”) to undertake initial Beatons Creek site establishment works (see Figure 2 below). EMC have demonstrated their credentials for this type of work over the past two field seasons at Novo’s Egina project, with the current Beatons Creek scope comprising:
  • Preparing sites for grade control drilling
  • Eradication of invasive and noxious Calotropis weed
  • Establishment of site access roads and haulage / light vehicle roads
  • Establishment of ROM pad
  • Clearing for office, lay down pad and equipment ‘go bay’

Grade Control Drilling works:

• Castle Drilling (“Castle”) has been awarded the contract for initial grade control drilling works. Castle have worked previously at Beatons Creek and their knowledge of the conglomerate deposit will prove invaluable. Drilling and sampling activities will commence in the coming weeks.
• MinAnalytical Laboratories (part of Perenti Global Limited – ASX: PRN) have been retained to undertake the assaying of the grade control samples, utilizing award winning Chrysos technology. This technology is capable of rapidly and accurately scanning up to 500g of material at a time, an important capability when dealing with coarse gold systems. Novo are in discussions with MinAnalytical with regard to establishing an on-site laboratory facility for Novo at Millennium’s plant.

Major tenders currently under negotiation:

• The primary mining contract is currently being tendered by a select group of experienced mining contractors.
• The Millennium camp management services contract is being tendered with strong interest from a group of service providers experienced in this style of work in the Pilbara region.

In addition, the Company is pleased to announce the following key personnel appointments and ongoing recruitment activity:

• Trevor Eddie had been appointed Geology Manager. Mr. Eddie has operational geology experience in numerous styles of deposits across the West Australian gold mining industry. His specialist skills in the reconciliation of resources through the mining and processing cycle will be well utilized as Novo advances Beatons Creek towards production.
• Leisa Nash has been appointed to the position of site-based Finance and Administration Manager. Ms. Nash has extensive site based commercial operational experience, including having worked previously for Millennium, experience which will be invaluable as Novo establishes local stakeholder relationships in an operational context.
• Recruiting continues apace for other positions as required operationally, with very strong interest seen from experienced industry participants eager to be involved with the unique story surrounding the development of Pilbara conglomerate gold.