Conglomerate Gold in the Pilbara A World Class Discovery This - - PowerPoint PPT Presentation

This document is for information purposes only and is not an offer to sell, nor a solicitation of an offer to purchase, any securities. It does not purport to contain all of the information that a prospective investor may require and it is not intended to provide any legal, tax or investment advice.

July 3, 2020

Conglomerate Gold in the Pilbara – A World Class Discovery

TSX-V: NVO / OTCQX: NSRPF

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Some statements in this presentation contain forward-looking information (within the meaning of Canadian securities legislation), including without limitation statements as to the potential, through further drilling, to expand and upgrade to the indicated category the inferred resources described in this presentation, and that a preliminary economic assessment will be undertaken later this year. These 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 ability to complete the drilling programs and other exploration activities as currently contemplated, the receipt of successful results as drilling proceeds, customary risks of the mineral resources exploration industry as well as Novo Resources Corp. (“Novo” or the “Company”) having sufficient cash to fund the planned exploration and other activities, as well as other risks and factors mentioned in the continuous disclosure filings of Novo which can be found under its profile on the SEDAR website (www.sedar.com). Shareholders and prospective investors are therefore cautioned not to place undue reliance on forward-looking information. Novo undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

• Dr. Quinton Hennigh, the Company’s Chairman, President and Director and a Qualified Person as defined by National

Instrument 43-101, has approved the technical contents of this presentation. This presentation uses the term "inferred resources." We advise U.S. investors that while this term is recognized and required by Canadian regulations, it is not recognized by the U.S. Securities and Exchange Commission. "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal

• feasibility. It cannot be assumed that all or any part of an "inferred mineral resource" will ever be upgraded to a higher
• category. Under Canadian rules, estimates of "inferred mineral resources" may not form the basis of a feasibility study or

prefeasibility studies. U.S. investors are cautioned not to assume that any part or all of an inferred resource exists or is economically or legally mineable. 2

3 Shares Outstanding (Basic)

• 188.4M

Market Cap (Basic)

• ~C$691M (based on July 2, 2020 closing

price of C$3.67) Options Outstanding

• 15.2M (avg. exercise price of C$3.31)

Warrants Outstanding

• 14M (exercise price of C$6.00)

Shares Outstanding (Fully Diluted)

• 217.6M

Cash Balance

• ~C$28.1M, no debt

Dilutive Securities

Ownership

Warrants Exercise Price $6.00, Expiry Sep 6, 2020 14,000,000 TOTAL 14,000,000 Stock Options Exercise Price $0.94, Expiry August 15, 2021 1,600,000 Exercise Price $0.95, Expiry June 5, 2022 1,750,000 Exercise price $1.57, expiry July 18, 2022 2,125,000 Exercise price $7.70, expiry Oct 20, 2022 2,125,000 Exercise price $3.47, expiry Jan 30, 2023 950,000 Exercise price $4.60, expiry Jun 5, 2023 410,000 Exercise price $3.57, expiry Jan 26, 2025 6,165,000 TOTAL 15,125,000

Free Float, 52.54% Management & Directors, 1.87% Newmont Goldcorp, 3.15% Creasy Group, 5.93% Eric Sprott, 12.20% Kirkland Lake Gold, 15.83% GDXJ, 3.63% New Found Gold Corp., 3.69% Artemis, 1.06% GBM Resources, 0.11%

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Pilbara Conglomerates

Egina Comet Well – Purdy’s Reward Beaton’s Creek

These are sedimentary gold deposits laid down along ancient shorelines and

• rivers. They occur as layers that can be expansive. Gold grains are trapped in

the matrix between cobbles and boulders.

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Pilbara Gold

Conglomerate gold is coarse, sometimes very coarse, making assessment of grade challenging. Novo is the only gold company that has developed systematics to tackle such nuggety mineralization.

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Reference should be made to the Company’s news releases dated April 1, 2019, as well as the technical report entitled “NI 43-101 Technical Report, Mineral Resource Update, Beatons Creek Conglomerate Gold Project, Western Australia” issued on May 13, 2019, which was prepared for Novo by Dr. Simon C. Dominy (FAusIMM (CPGeo))

• f Surrey, UK and Dr. Quinton T. Hennigh (P. Geo.) of Longmont, USA. This technical report is available under the Company’s profile on the SEDAR website

at www.sedar.com (filing date: May 13, 2019) and on the Company’s website at www.novoresources.com.

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Egina Geologic Model

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An analogue

Namibia Atlantic Ocean Skeleton Coast Orange River ~200 km

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Egina Terrace

23 km Egina Mining Lease Womerina

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Ground Penetrating Radar

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Trenching/Bulk Sampling

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Processing

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Coarse Gold Recovery

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Bulk Sampling Results

Location Cubic meters gravel Au recovered (g) Raw grade (g Au/cubic m) Wt % of Au -1 mm Swale 390.2 664.42 1.70 7.5% Swale margin 412.6 248.25 0.60 30.7% Periphery 827.1 249.72 0.30 50.5%

NE Egina mining lease:

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Exploration

Paradise South Egina NE Egina Station Peak Egina ML Womerina Road to Paradise NW Egina

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Exploration

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Exploration

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Exploration

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17 km 10 km

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Mechanical Rock Sorting

2018 – Comet Well testing

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Mechanical Rock Sorting

2019/2020 – Egina and Beatons Creek testing

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Mechanical Rock Sorting

2019/2020 – Over 99% gold recovery by weight from Egina material

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Mechanical Rock Sorting

2019/2020 – Beatons Creek testing Rejects Accepts

Steinert testing, Perth WA TOMRA testing, Sydney NSW TOMRA testing, Wedel Germany Awaiting assay results

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FOR MORE INFORMATION CONTACT: Telephone: 1-(416)-543-3120 E-mail: leo@novoresources.com www.novoresources.com

Contact Information