Company Overview

Novo Resources Corp. is a publicly traded mineral exploration and development company focused primarily on gold exploration in the Pilbara region of Western Australia. The company operates within the precious metals mining and exploration industry, with activities centered on identifying, acquiring, and advancing gold projects from early-stage exploration through potential development. Novo does not currently operate producing mines and has historically generated minimal or no operating revenue, with value primarily driven by exploration results, asset acquisitions, and strategic land positions.

The company’s primary business is the exploration and evaluation of large-scale, district-style gold systems, particularly conglomerate-hosted and structurally controlled gold mineralization. Novo’s strategic positioning is based on its extensive land package in the Pilbara, control of key exploration assets, and access to regional processing infrastructure. Founded in 2007, the company evolved from an early-stage exploration issuer into a dominant landholder in the Pilbara through organic staking, joint ventures, and acquisitions, most notably the acquisition of Millennium Minerals Limited in 2022, which materially expanded its asset base.

Business Operations

Novo’s operations are organized around a single reportable business activity: gold exploration and development. Its assets are held primarily through its wholly owned subsidiary Novo Resources (Australia) Pty Ltd, which manages exploration programs, tenement compliance, and project development in Australia. Key projects include the Egina Gold Camp, Beatons Creek area, and other exploration licenses across the Pilbara Craton. The company also controls the Nullagine Gold Project, which includes a permitted gold processing facility acquired through Millennium Minerals Limited.

Operationally, Novo conducts geological mapping, geochemical sampling, geophysics, and drilling programs, supplemented by test mining and bulk sampling where permitted. The company has historically engaged in joint ventures and farm-in arrangements to share exploration risk and technical expertise. No material long-term revenue-generating partnerships are currently verified based on available public disclosures, and data on certain historical joint ventures is inconclusive based on available public sources.

Strategic Position & Investments

Novo’s strategy emphasizes district-scale consolidation, optionality on gold price appreciation, and leveraging existing infrastructure to reduce future development risk. The acquisition of Millennium Minerals Limited was a cornerstone transaction, providing Novo with the Nullagine processing plant, granted mining leases, and established infrastructure, which management has identified as a strategic advantage for regional development and toll treatment opportunities.

The company has also made minority equity investments and entered strategic relationships with other Australian gold explorers over time to maintain exposure to regional discovery upside. However, disclosures regarding the current materiality of specific equity holdings or portfolio companies vary across public filings, and certain historical investments cannot be independently verified as strategically significant at present. Novo continues to evaluate emerging exploration targets and development pathways, but no definitive production decision has been publicly confirmed.

Geographic Footprint

Novo Resources Corp. is headquartered in Vancouver, Canada, with substantially all operational activities located in Western Australia, specifically the Pilbara region. The company’s Australian footprint includes a large contiguous land position covering multiple exploration licenses and mining leases across key gold belts.

Outside of Australia and Canada, Novo does not maintain material operational assets. Its influence is primarily regional rather than global, with Australia representing the sole area of active investment and operational focus. Corporate governance, capital markets activity, and investor relations functions are managed from North America, while technical and field operations are executed locally in Australia.

Leadership & Governance

Novo was founded with strong technical leadership and maintains a governance structure emphasizing geological expertise, capital discipline, and long-term asset value creation. The company’s leadership has articulated a strategy focused on systematic exploration, infrastructure leverage, and prudent advancement of assets toward development readiness.

Key executives include:

• Mike Spreadborough – President and Chief Executive Officer
• Quinton Hennigh – Non-Executive Director and Co-Founder
• Greg Jones – Chief Financial Officer
• Mark Creasy – Non-Executive Director

Management and the board collectively bring experience in exploration geology, mine development, corporate finance, and Australian resource operations. Leadership philosophy, as reflected in public disclosures, emphasizes technical rigor, shareholder alignment, and strategic patience.