Pilbara Conglomerate Gold, page-395

Novo Reports Pilbara Exploration Budget for Upcoming 12 Months VANCOUVER, British Columbia, June 25, 2018 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo”) (TSX-V:NVO) (OTCQX:NSRPF) is pleased to announce that it has agreed to an AUD $5.4 million exploration budget for the year beginning July 1, 2018 (the “Period”) with its 50-50 joint venture partner, ASX-listed Artemis Resources Limited, on joint venture tenure in the Karratha region of Western Australia. During the first four months of the Period, Novo and Artemis intend to focus on bulk sampling, diamond drilling, and costeaning activities, primarily at Purdy’s Reward. Large bulk samples will be collected and treated to provide necessary grade data needed to file a mineralization report, an important step toward converting the current exploration license to a mining license. Additionally, environmental and heritage studies will be undertaken in conjunction with similar work at Novo’s nearby Comet Well joint venture in order to move the collective area toward bulk sampling. Lastly, follow-up exploration will be undertaken on the wider tenement package under the joint venture to identify further areas of conglomerate gold prospectivity. The Novo-Artemis 50-50 budget of AUD $5.4 million comprises approximately one-third of Novo’s planned $15.4 million Pilbara conglomerate exploration budget.