GlobeNewswire Inc | Dec 17, 2020 05:34PM EST

December 17, 2020

VANCOUVER, British Columbia, Dec. 17, 2020 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (TSX-V: NVO & NVO.WT; OTCQX: NSRPF) is pleased to announce that it has received conditional approval from the Toronto Stock Exchange (the TSX) to graduate from the TSX Venture Exchange (the TSXV) and list its common shares and certain common share purchase warrants (the Warrants) on the TSX.

Final approval of the listing is subject to the Company fulfilling the TSXs standard listing conditions. Upon, and subject to, receipt of final TSX approval, Novos common shares and Warrants would be delisted from the TSXV and begin trading on the TSX under the symbols NVO and NVO.WT, respectively.

The Companys common shares will continue to be listed on the OTCQX under the symbol NSRPF.

This is a significant milestone for the Company, commented Dr. Quinton Hennigh, Chairman, President, and a director of Novo. Novo has grown dramatically since the Companys initial public offering and listing on the Canadian Securities Exchange in June, 2010. I would like to thank the TSXV for its years of continuous support after accepting Novos listing in May 2015. Given Novos international exposure, we believe it is time to graduate to the TSX, one of the premier exchanges for publicly traded companies, in order to enhance liquidity of Novos stock and extend Novos appeal to the international investment community.

About Novo Resources Corp.

Novo is advancing its flagship Beatons Creek gold project to production while exploring and developing its highly prospective land package covering approximately 14,000 square kilometres in the Pilbara region of Western Australia. In addition to the Companys 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 (416) 543-3120 or e-mailleo@novoresources.com

On Behalf of the Board of Directors,

Novo Resources Corp.

Quinton Hennigh

Quinton Hennigh

Chairman and President

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.

Forward-looking information

Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, the anticipated receipt of final approval to the Companys listing on the TSX and the expected resulting enhancement of liquidity of Novos stock and appeal to the international investment community. Forward-looking 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 Companys satisfaction of the applicable conditions to listing and the TSXs provision of final approval.