Company Overview

Novo Resources Corp. is a mineral exploration and development company focused primarily on gold exploration within the mining and natural resources industry. The company’s core activities center on identifying, evaluating, and advancing gold projects, with a strategic emphasis on large-scale, district-level opportunities rather than near-term production. Novo Resources Corp. is publicly listed in Canada and Australia and is widely associated with exploration innovation in geologically underexplored terrains.

The company’s principal asset base is located in the Pilbara region of Western Australia, an area known for its significant mineral endowment. Novo gained industry attention for advancing unconventional exploration models in this region, particularly related to conglomerate-hosted gold systems. Founded in 2009, the company evolved from an early-stage explorer into a recognized Pilbara-focused operator through extensive land consolidation, strategic partnerships, and technical leadership in exploration geology.

Business Operations

Novo Resources Corp. conducts its business primarily through gold exploration and project generation activities, generating value through discovery, asset advancement, and monetization rather than sustained mining operations. The company’s operations are organized around exploration and evaluation assets, with revenue generation historically derived from asset sales, joint venture arrangements, and equity interests rather than operating mine production.

Operationally, Novo conducts its Australian activities through its wholly owned subsidiary Novo Resources (Australia) Pty Ltd, which manages tenements, exploration programs, and regulatory compliance. The company has entered into multiple joint ventures and farm-in agreements with mid-tier and major mining companies to share exploration risk and capital requirements. Novo has also monetized certain advanced assets through divestments, transitioning capital into portfolio investments and retained royalties where applicable.

Strategic Position & Investments

Novo’s strategic direction emphasizes capital discipline, portfolio optimization, and exploration optionality. Rather than pursuing standalone mine development, the company has increasingly focused on partnering, asset divestment, and equity investments to maintain exposure to exploration upside while managing financial risk. This strategy reflects a shift toward becoming a project generator and mineral investment platform within the gold sector.

The company has completed notable asset transactions, including the sale of its Beatons Creek gold project to Capricorn Metals Ltd., resulting in Novo retaining an equity interest in the acquiring company. Novo also maintains strategic equity positions in select exploration and development companies, providing leveraged exposure to gold discoveries across the Pilbara and other prospective regions. Its technical focus remains aligned with emerging geological models applicable to Archean terranes.

Geographic Footprint

Novo Resources Corp. is headquartered in Canada, with its primary operational presence in Western Australia, one of the world’s most stable and mining-friendly jurisdictions. The company’s land package and exploration interests are concentrated in the Pilbara region, where it has historically controlled a substantial contiguous tenement position.

While Australia represents the core of Novo’s operational footprint, the company’s corporate structure, investor base, and capital market activities span North America and Australia. Its strategic investments and partnerships extend its indirect exposure to additional exploration assets within Australia, reinforcing its influence in one of the most active global gold exploration regions.

Leadership & Governance

Novo Resources Corp. was founded by Quinton Hennigh, whose geological theories significantly shaped the company’s early strategic direction and asset acquisition strategy. The leadership team combines technical mining expertise with capital markets and operational experience, guiding the company through its transition toward portfolio-based value creation.

Key executives and directors include:

• Mike Spreadborough – President & Chief Executive Officer
• Quinton Hennigh – Founder & Non-Executive Director
• John Borshoff – Non-Executive Chairman
• Michael Schmulian – Non-Executive Director

The leadership philosophy emphasizes technical rigor, shareholder alignment, and disciplined capital allocation. Where executive roles or governance changes have occurred over time, public disclosures indicate a continued focus on leveraging geological expertise while maintaining flexibility in strategic execution.