Corporate Presentation Diggers & Dealers, 2018 This document is - - 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.

August 8, 2018

Discovering a New Goldfield in Australia

Corporate Presentation – Diggers & Dealers, 2018

TSX-V: NVO / OTCQX: NSRPF

TSX-V : NVO|OTCQX: NSRPF

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 drilling and

• ther 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

TSX-V : NVO|OTCQX: NSRPF

3

TSX-V : NVO|OTCQX: NSRPF

3

Shares Outstanding (Basic)

• 160.6M

Market Cap (Basic)

• C$687M (based on August 3,

2018 closing price of C$4.28)

Options Outstanding

• 12.4 M

(avg. exercise price of C$3.13)

Warrants Outstanding

• 29.4 M

(avg. exercise price of C$3.34)1

Shares Outstanding (Fully Diluted)

• 202.4 M

Balance Sheet

• ~C$64 M cash, no debt

(1) Includes 900 K warrants exercisable at C$1.25 until August 2018, 14.5 M warrants exercisable at C$0.90 until May 2019, and 14M warrants exercisable at C$6.00 until September 2020

Ownership

Free Float, 50.1% Management/Directors, 11.6% Creasy, 6.9% Kirkland Lake, 18.6% Newmont Mining, 3.7% Institutional, 9.1%

TSX-V : NVO|OTCQX: NSRPF

Job Creation

• 45 full-time employees between

Perth, Karratha, and Nullagine

Capital

• AUD $15.4M exploration budget

through June 30-19

Taxes

• AUD $3M+ paid since entering

WA in 2011

Social Investments

• Local community engagement

and patronage

TSX-V : NVO|OTCQX: NSRPF

5

• Dr. Quinton Hennigh

(Chairman, President & Director)

• Economic geologist with more than 20 years of exploration experience with major gold mining firms

including Homestake Mining, Newcrest Mining and Newmont Mining

• Currently director and technical advisor to Irving Resources Inc, Precipitate Gold Corp, TriStar Gold Inc.

and NV Gold Corp.

• Ph.D. in Geology/Geochemistry from the Colorado School of Mines

Rob Humphryson (CEO & Director)

• Mining engineer with 25 years of experience
• 17 year career at Macmahon Underground (formerly National Mine Management) culminated in

executive operational and business development leadership roles within the group

• Formerly Business Development Manager at Swick Mining Services and COO of Silver Lake Resources
• AusIMM member

Eric Sprott (Director)

• One of the world’s premiere gold and silver investors
• Founder of Sprott Securities (now Cormark Securities Inc.) and Sprott Asset Management LP
• Currently Chairman of Kirkland Lake Gold Ltd.

Greg Gibson (Director)

• More than 30 years’ experience in the mining industry as a miner, mine manager, director, CEO and

President

• Focused on gold and copper mining primarily in Canada, US, and Australia
• Currently Chairman and Interim CEO of Metanor Resources Inc. as well as a director of Ascot Resources

Ltd., Sprott Mining Inc., Jerritt Canyon Canada, Latin American Minerals Inc. and Resource Capital Gold Corp.

Akiko Levinson (Director)

• Brings over 20 years of experience to the market, has extensive experience in mining finance and end-

to-end rare earth mineral investment

• President & CEO and Director of Irving Resources Inc. and former President of Gold Canyon Resources

Inc.

Michael Barrett (Director)

• CPA with over 26 years of international experience, including stints with Deloitte, Rio Tinto (USA), WMC

Resources, and PWC

• former CFO of Cloud Peak Energy and national lead partner for Deloitte’s risk advisory energy and

resources practice in Perth

TSX-V : NVO|OTCQX: NSRPF

6 6

Simon Pooley (COO)

• Geologist with over 30 years of experience
• AusIMM member and a graduate of the Australian Institute of Company Directors
• Former employers include Dominion Mining, Ashton Mining, and Rio Tinto

Ronan Sabo-Walsh (CFO & Corporate Secretary)

• Over 7 years of experience in corporate finance and public company accounting,

including public listings, merger transactions, and public company management

• Formerly VP, Finance of the Company (since June 2015)
• Former CFO of a CSE-listed mineral exploration company

Leo Karabelas (VP of Corporate Communications)

• Over 10 years of experience in the capital markets and investor relations industry
• President of Focus Communications Investor Relations Inc.

Kas De Luca (General Manager, Exploration)

• Geologist with over 30 years’ experience in both exploration and mining, both domestic

and international

• One of the founding directors to successful geological consultancy Jigsaw Geoscience

Pty Ltd

• Multi-commodity experience across a variety of geological environments, with

companies such as Newcrest Mining, Dundee Precious Metals, Placer Dome and KCGM

Chris O’Brien (Project Director)

• Mining Engineer with 25 years experience spread across operational and corporate roles
• Last 10 years spent in project development
• Previous role was Project Director with Newmont working on Tanami and Boddington

expansions

TSX-V : NVO|OTCQX: NSRPF

7

Earth @ 3.0 billion years before present Pilbara Kaapvaal

Witwatersrand

TSX-V : NVO|OTCQX: NSRPF

8

~30% of mined Au

Kaapvaal Pilbara

Karratha

TSX-V : NVO|OTCQX: NSRPF

9

Known gold-bearing conglomerates 2010 Beatons Creek JIT/TQ

Pilbara Craton

Karratha Nullagine

TSX-V : NVO|OTCQX: NSRPF

10

• Rumors of a new gold find near the town of

Karratha began to circulate in late 2016

• Recognizing the source of the gold was

conglomerates belonging to the Fortescue Group, the unit that hosts gold at Beatons Creek, and the potential for widespread mineralization, Novo began aggressively staking downdip extensions of favourable conglomerate horizons

2 mm 2 cm 0.5 cm

TSX-V : NVO|OTCQX: NSRPF

11

• Novo staked exploration applications

covering approximately 7,000 sq km in the region around Karratha (green in map on next slide), and controls approximately an additional 2,000 sq km elsewhere in the Pilbara region

• Novo has earned in to JV agreements with

Artemis Resources on an additional 1,256 sq km of mineral rights (blue on map on next slide)

• Novo has entered into an option agreement

for 100% of Welcome Exploration’s gold rights (orange on map on next slide)

• Novo has commenced farm-in exploration

expenditure for an 80% JV interest in the Comet Well property (pink on map on next slide)

TSX-V : NVO|OTCQX: NSRPF

Come Comet We Well / Purdys ys Rewa Reward

Karratha Gold Project

TSX-V : NVO|OTCQX: NSRPF

13

• Topography at Karratha consists of rolling

hills (right). Gold-bearing conglomerates

• ccur at the base of the Fortescue Group

below basalt flows. These rocks were previously unrecognized

• Conglomerates are interbedded with

sandstone horizons (lower right)

• Many clasts in the conglomerates are basalt

(below). Only minor vein quartz cobbles are present, an enigma if the gold is sourced from quartz lode deposits

TSX-V : NVO|OTCQX: NSRPF

14

• Gold is typically coarse…millimeters to

centimeters

• Grains are typically flattened resembling

watermelon seeds

• Gold is seldom attached to quartz
• Nuggets are rounded clearly indicating they

are alluvial in origin

• Nuggets often display a crenulated surface

resulting from compression and recrystallization during burial

• Gold purity is often high, +95%, setting it

apart from lode gold from deposits occurring in the basement which displays purities of <95%

• In situ nuggets often display a 1-2 mm halo
• f fine remobilized gold surrounding them

TSX-V : NVO|OTCQX: NSRPF Come met t We Well Pu Purdys rdys Reward rd

Appr pproximat

• ximate t

e trace ace of G

• f Gold
• ld

bear bearing ing Conglomer

• nglomerat

ate e Unit nit

Section Line

TSX-V : NVO|OTCQX: NSRPF

16

TSX-V : NVO|OTCQX: NSRPF

17

• In late 2017, upon excavating

several trenches, samples of in situ gold were collected and studied.

• It quickly became apparent that

most gold occurs as coarse nuggets frozen in sandy matrix between cobbles in the

• conglomerate. Other than a thin

halo of fine grained remobilized gold particles, very little disseminated fine grained gold is present.

• The lack of significant

disseminated fine grained gold was confirmed by assay of diamond drill core. Diamond drill core yield low gold grades whereas bulk samples collected from nearby trenches yield significant coarse gold.

TSX-V : NVO|OTCQX: NSRPF

18

Concentrate from 371 kg of conglomerate

• By early 2018, Novo determined

the circa 300 kg bulk samples collected from trenches during the initial stages of exploration were wholly insufficient in size.

• One or two large nuggets (see

photo of concentrate at right) can have a profound impact on the resulting calculated head grade.

• Novo has determined that a

minimum bulk sample size of at least 5 tonnes is required to enable a more meaningful estimate of grade.

TSX-V : NVO|OTCQX: NSRPF

19

• At Purdy’s Reward, most gold is concentrated in a zone about 0.4 m thick near the

footwall contact. Significant gold occurs in rocks above and below the contact.

• Results from 300 kg bulk samples from Purdy’s Reward are considered to be indicative.

Minimum five tonne bulk samples are better suited to estimate grade.

TSX-V : NVO|OTCQX: NSRPF

20

• Comet Well-Purdy’s Reward deposit is a near-shore marine placer gold deposit
• The extent of marine placer deposits can be vast, +100’s sq km

Fluvial input Marine reworking Shoreline along the Yukon River delta

TSX-V : NVO|OTCQX: NSRPF

21

• Gravels are washed seaward during low stands of sea level and reworked as sea level rises.

Sea level rises and falls repetitively creating an environment in which gold is trapped and

• concentrated. Nome (Alaska), the Orange River (Namibia) and the West Coast of the South

Island (NZ) are modern examples.

TSX-V : NVO|OTCQX: NSRPF

22

• Transgressive, wave-reworked gravels host gold at Comet Well-Purdy’s Reward and

are strikingly similar to modern lag gravels on the ocean bottom at Nome where gold- bearing deposits underlie tens of square km of the Bering Sea.

Diver pointing to a gold nugget in a transgressive lag gravel on the bottom of the Bering Sea near Nome Gold nuggets in a fossil transgressive lag gravel at Purdy’s Reward

TSX-V : NVO|OTCQX: NSRPF

23

• Work began at Comet Well in

mid-February and will continue through late year.

• Like at Purdy’s Reward, Novo is

conducting scout diamond drilling to evaluate the thickness, depth and attitude of the targeted conglomerate package. Up to 35 m of conglomerate has been intersected in early holes. A package of conglomerate unique to Comet Well has been encountered at the base of the sequence.

• Trenches are being opened up to

provide access for bulk sampling.

TSX-V : NVO|OTCQX: NSRPF

TSX-V : NVO|OTCQX: NSRPF

25

TSX-V : NVO|OTCQX: NSRPF

26

TSX-V : NVO|OTCQX: NSRPF

27

• After a 2 x 2 m sample site is chosen and

marked out, screening is put up to capture fly rock generated during breaking.

• Rock breakers with chisel moils are used to

fracture rock to a depth of approximately 0.5 m.

• Broken rock is placed into wooden crates lined

with bulka bags. Five or six crates are needed to hold one sample.

• Entire process is scrutineered by a third party.

TSX-V : NVO|OTCQX: NSRPF

28

• In January, Novo secured access to a test

processing plant at SGS Minerals, Perth.

• One of SGS’s largest contracts. SGS has

appointed an internal team 100% dedicated to this project.

• Numerous modifications, some planned,

some unplanned, have been made to the circuit.

• The crushing and detecting circuits are

near targeted capacity.

• The gravity gold circuit and tailings

treatment part of the circuit is being enhanced.

• The assay stream has recently been

streamlined.

• Assay stream expected to become steady

within a few weeks.

• Test work will be fully scrutineered and

certified providing high quality data.

TSX-V : NVO|OTCQX: NSRPF

29

• Novo’s conglomerate gold deposits have displayed encouraging gold

grades, are near surface and shallow dipping, display lateral persistence and are likely to be amenable to simple processing methods.

• The ability to define continuous volumes of mineralized rock, core drilling for

geology and bulk samples for assay, will be a critical pre-condition of commencing a large-scale trial sampling exercise. Upon gaining confidence in identifying mineralised shapes, Novo anticipates commencing bulk sampling

• perations within a one year timeframe.
• Until a Mining Lease is granted, bulk tonnage PoWs are the only way to permit

excavation of large samples, these being limited to 20,000 metric tonnes. Key elements to support an application for the granting of a Mining Lease include a mineralisation report and a Native Title mining agreement.

• Novo’s already well-advanced environmental studies and demonstrated

environmental stewardship will aid the Company.

• Novo will require a suitable processing solution for large-scale trial sampling.

As Novo continues to improve its understanding of mineralization and metallurgical characteristics, processing flows heets and equipment options are being firmed up to develop an appropriate processing solution. In addition to assessing conventional processing solutions, Novo is also preparing test work programs using non-traditional material sorting technology.

TSX-V : NVO|OTCQX: NSRPF

30

Known gold-bearing conglomerates today

Pilbara Craton

TSX-V : NVO|OTCQX: NSRPF

31

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