Novo Resources Corp.: Significant Results from RC Drilling at Tibooburra Gold Project

HIGHLIGHTS

• Novo completed its maiden drill program at the Clone prospect as part of the Tibooburra Gold Project, in May 2025. The program comprised 14 RC holes for 1,984 m, testing 500 m of strike.
• Drilling produced significant high-grade gold intercepts including:
  • 12 m @ 5.90 g/t Au from 16 m, including 5 m @ 13.74 g/t Au from 23 m (TBR0001)
  • 17 m @ 2.40 g/t Au from 59 m including 9 m @ 4.14 g/t Au from 59 m (TBR0014)
• The peak intercept in hole TBR001 (12 m @ 5.90 g/t Au) fills a 180 m gap in previous drilling by Manhattan Corporation Limited (ASX: MHC), where 9 m at 6.03 g/t Au from 16 m(CL0010) was intersected ~100 m to the south of TBR0001, and 6 m @ 8.39 g/t Au from 82 m (CL0007), was intersected ~80 m to the north.
• Grade and width continuity has been successfully demonstrated by the RC drilling and indicates a shallow north plunge to the near-surface shoot of high-grade gold mineralisation, now defined over 300 m strike.

• High-grade intercepts remain open to the north, both down plunge and down dip and warrants follow up RC drilling which is being designed.
• Future work at Tibooburra will include detailed structural analysis to understand controls on mineralisation in the belt will include: 1) down hole imaging at Clone, 2) relogging core at New Bendigo and 3) mapping the Pioneer - Phoenix trend.
• Novo met (and exceeded) its required minimum spend of $500,000 for the initial farm-in period under the binding term sheet with Manhattan Corporation Limited during June 2025.

Mike Spreadborough, Executive Co-Chairman and Acting Chief Executive Officer, said: "Results from the RC drill program at the Clone prospect include two intercepts above 40 mxg Au, where drilling has successfully intersected high-grade near-surface gold mineralisation consistent with a shallow plunging shoot. The consistency of grade and thickness over a 300 m strike is very encouraging. Follow up RC drilling to extend gold mineralisation to the north is warranted and is now being designed.

Some 7 km southeast of the Clone prospect, the New Bendigo prospect displays a similar shallow northerly plunge and will also be advanced with structural analysis and interpretation of historic diamond core, in preparation for potential extensional drilling.

Further systematic exploration programs are planned along the full project strike length testing mineralised trends from New Bendigo to Warratta Reef and Pioneer/Phoenix to Clone to identify potential drill targets. Tibooburra remains an exciting exploration project given the extent of the system along a 22 km strike of historic workings, and limited systematic exploration or drilling."

PERTH, Western Australia, July 09, 2025 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (ASX: NVO) (TSX: NVO) (OTCQB: NSRPF) is pleased to announce significant high-grade gold results from the Company's maiden drilling program at the Tibooburra Gold Project (Tibooburra) (Figure 1), located in northwestern NSW. The program comprised 14 holes for 1,984 m, testing 500 m of strike at the Clone prospect (Clone).

Tibooburra is an advanced exploration opportunity and covers much of the historic Albert Goldfields. Tenure includes six granted exploration licences over 630 sq km and covers the historic workings over a strike of over 22 km from Phoenix North to New Bendigo.

In late 2024, Novo completed a binding farm-in/JV agreement for Tibooburra with Manhattan Corporation Limited (ASX: MHC) (Manhattan)¹. The agreement grants Novo an option to acquire a 70% interest in the tenements comprising the Tibooburra Gold Project, subject to (among other things) Novo meeting two minimum expenditure requirements over two 12-month periods.

Novo met (and exceeded) the required minimum spend of $500,000 for the initial farm in period under the binding term sheet during June 2025.

Figure 1 Tibooburra Gold Project location and tenement map, showing main prospects.

Clone Prospect Surface Exploration

Initial exploration completed by Novo in Q1 2025 focused on Clone² and included detailed structural, lithological and regolith mapping, pXRF analysis of soils and rocks, -80# mesh soil sampling and rock chip sampling.

Novo rock chip sampling returned exceptional peak results of 89.6 g/t Au and 41.9 g/t Au² from mullock dump samples associated with historical workings, and 31.4 g/t Au and 10.4 g/t Au² from limited quartz vein outcrop.

Soil sampling defined a ~ 600 m long and up to 250 m wide coherent gold in soil anomaly at > 30 ppb Au, with standout peak results of 1,585 ppb Au and 1,440 ppb Au².

Mapping defined a west dipping reverse fault/thrust (Clone Thrust) associated with high-grade gold mineralisation. Most historical workings and significant sericite-carbonate alteration are proximal to, or constrained within the fault/shear zone (Figure 2). The turbidite stratigraphy is intensley folded (tight to isoclinal) with most fold axes plunging moderately NNW. The intersection of regional foliation and the main structures, provide a shallow north to NNE plunging intersetion, similar to the high-grade shoot plunge defined by the recent drilling.

Figure 2 Clone historic workings, geological interpretation and surface rock chip results ^2.

Clone Prospect RC Drill Program

RC drilling was completed at Clone in May 2025, with 14 holes drilled for 1,984 m on approximately 60 m to 150 m spaced sections (Figure 3, 4 and 5).

The program was designed to test 500 m strike of Clone in the main area of historical workings, informed by Novo's geological mapping and sampling and historical drilling by Manhattan³.

Significant results from the RC drill program include:

• 12 m @ 5.90 g/t Au from 16 m including 5 m @ 13.74 g/t Au from 23 m (TBR0001)
• 17 m @ 2.40 g/t Au from 59 m including 9 m @ 4.14 g/t Au from 59 m (TBR0014)

The results show grade and width continuity similar to the original Manhattan RC drilling and support a near-surface shoot of north-plunging high-grade gold mineralisation, now defined over 300 m strike (Figure 6).

Drill testing was designed to best intersect interpreted mineralised trends and structures at right angles to minimise bias in sample collection. All intervals are reported as down hole widths, as true orientation of mineralisation is still unknown.

Historical drilling completed by Manhattan in 2023, highlighted potential for shallow dipping high-grade gold mineralisation, testing to a maximum depth of 75 m, with significant drill results returned from eleven holes including:

• 6 m @ 8.39 g/t Au from 82 m (CL0007)
• 9 m at 6.03 g/t Au from 16 m (CL0010)
• 6 m at 4.22 g/t Au from 66 m, including 4 m @ 6.21 g/t Au from 68 m (CL0004)
• 29 m @ 1.37 g/t Au from 61 m, including 19 m @ 1.81 g/t Au from 62 m Au (CL0002)

Broad zones of lower grade mineralisation were also intersected, highlighting the gold fertility of the structural corridor. Drill intercepts from both Novo and Manhattan support this model and include:

• 10 m @ 0.45 g/t Au from 105 m (TBR0013)
• 23 m @ 0.51 g/t Au from 71 m (CL0001)
• 14 m @ 0.5 g/t Au from 17 m (CL0005)
• 10 m @ 0.53 g/t Au from 57 m (CL0007)

Refer Appendix 1 for all drill collar information, and Appendices 2 and 3 for all significant drill assay results.

New Bendigo Prospect

New Bendigo is an advanced target at Tibooburra approximately 7 km southeast of Clone, and along a parallel trend. This was the focus area for Manhattan's drilling programs. The prospect is mostly under cover but has several shafts and extensive historical workings over 2 km strike.

Multiple high-grade gold intercepts were defined during several drill programs by Manhattan at New Bendigo, where peak drill results include:

• 30 m at 4.03 g/t Au from 11 m, including 5 m at 20.86 g/t Au (NB0033)¹
• 16 m at 13.89 g/t Au from 1 m, including 3 m at 69.20 g/t Au (NB0083)¹
• 8 m at 40.5 g/t Au from 70 m, including 3 m at 105.34 g/t Au (NB0089)¹
• 7 m at 13.10 g/t Au from 97 m, including 5 m at 18.01 g/t Au (NB0113)¹
• 13 m at 6.16 g/t Au from 50 m, including 3 m at 25.48 g/t Au (NB0122)¹
  
  

Figure 3 Significant intercepts from Novo (green callout) and Manhattan (white callout) RC drilling programs, dill hole and section location and geological interpretation

Figure 4 Clone drill sections with interpreted mineralised envelope and drill intercepts (green callout Novo drilling, grey callout Manhattan drilling) - see Figure 3 for location

Figure 5 Clone drill sections with interpreted mineralised envelope and drill intercepts (green callout Novo drilling, grey callout Manhattan drilling) - see Figure 3 for location

Figure 6 Clone interpreted long section highlighting grade and width continuity, shallow north plunge to the high-grade shoot and mineralising system open to the north (green callout Novo drilling, grey callout Manhattan drilling) - see Figure 3 for location

There is potential for repeated lodes at depth and along the interpreted shallow northerly plunge at New Bendigo, however controls on gold mineralisation are not yet fully understood. Figure 7 shows current interpretation of grade from historical drilling, clearly delineating a northern plunge control on the long section.

Novo has not conducted data verification (as that term is defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects and JORC 2012) in respect of the above data from New Bendigo and therefore is not to be regarded as reporting, adopting or endorsing those results/figures. No assurance can be given that Novo will achieve similar results.

Figure 7 Long section interpretation at New Bendigo by Novo, based on historical data.

Tibooburra Geological Model

The mineralisation at Tibooburra is classified as an orogenic gold system hosted within a turbidite-dominated sequence, sharing key structural and geological similarities with the turbidite-hosted gold deposits of Central Victoria's Western Lachlan Orogen (Figure 8). The historic workings at Tibooburra extend over 22 km along strike.

Similarities between Tibooburra and Central Victoria include moderate west dipping mineralised reverse faults, tight shallow plunging folds, age of the host rocks, mineralisation styles and structural deformation history. The current understanding of the Clone and New Bendigo prospects provides several possibilities for the detailed mineralisation style (Figure 8) and structural control on the high-grade shoots.

Figure 8 Simplified structural model for orogenic turbidite-hosted gold deposits of Central Victoria (not depth specific) and examples of these deposits in Victoria (modified and adapted from W.R.H Ramsay et al 1998 and Hitchman et al 2017).

This rationale, adapted from Ramsay et al. (1998), Hitchman et al. (2017), and Greenfield and Reid (2006)⁴, underscores Tibooburra's potential as an orogenic gold system, with exploration focused on structurally controlled targets analogous to the Victorian Goldfields.

While Novo believes such similarities exist, no assurance can be given that Novo will achieve similar results at its Tibooburra Project.

Forward Program

Next steps at Tibooburra include designing follow up RC drilling at Clone to test the northern extension of the high-grade shoot defined by Novo over 300 m strike in recent drilling. In addition, planned work at Clone includes down hole imaging to determine if structural data (vein orientations) can be obtained, and whether this provides a useful basis for structural targeting.

Relogging of core from New Bendigo is also planned to better identify controls on gold mineralisation at the prospect. New Bendigo displays a similar shallow northerly plunge to Clone and will also be assessed for extensional RC drilling.

Further and broader scale work at Tibooburra will be systematic and will focus on understanding the belt-wide structural controls on gold mineralisation by mapping and sampling the northern extension of the Clone Trend at Pioneer / Phoenix, and by mapping the Waratah Reef and southern New Bendigo areas.

Authorised for release by the Board of Directors.

CONTACT

Investors: Mike Spreadborough [phone] [e-mail]

North American Queries: Leo Karabelas [phone] [e-mail]

Media: Cameron Gilenko [phone] [e-mail]

QP STATEMENT

Mrs Karen (Kas) De Luca (MAIG), is the qualified person, as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for, and having reviewed and approved, the technical information contained in this news release. Mrs De Luca is Novo's General Manager Exploration.

JORC COMPLIANCE STATEMENT

The information in this news release that relates to new exploration results at Tibooburra is based on information compiled by Mrs De Luca, who is a full-time employee of Novo Resources Corp. Mrs De Luca is a Competent Person, as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves', who is a member of the Australian Institute of Geoscientists. Mrs De Luca has sufficient experience that is relevant to the style of mineralisation and the type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person. Mrs De Luca consents to the inclusion in the report of the matters based on her information in the form and context in which it appears.

The information in this news release that relates to previously reported exploration results at the Tibooburra Project is extracted from:

(a) Novo's ASX announcement entitled "Novo Strengthens Portfolio with Two High-Grade Gold Projects in NSW, Australia" released to ASX on 13 December 2024; and

(b) Novo's ASX announcement entitled "Promising Surface Exploration Informs Tibooburra RC Drilling Program" released to ASX on 2 April 2025,

each of which is available to view at www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the competent persons findings are presented have not been materially modified from the original market announcements.

FORWARD-LOOKING STATEMENTS

Some statements in this news release may contain "forward-looking statements" within the meaning of Canadian and Australian securities law and regulations. In this news release, such statements include but are not limited to planned exploration activities and the timing of such. 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, customary risks of the resource industry and the risk factors identified in Novo's annual information form for the year ended December 31, 2024 (which is available under Novo's profile on SEDAR+ at www.sedarplus.ca and at www.asx.com.au) and in the Company's prospectus dated 2 August 2023 which is available at www.asx.com.au. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, Novo assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If Novo updates any forward-looking statement(s), no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements.

___________________
1 Refer to ASX news release by Novo Resources dated 13/12/2024 - Novo Strengthens Portfolio with Two High-Grade Gold Projects in NSW, Australia.
2 Refer to ASX news release by Novo Resources dated 02/04/2025 - Promising Surface Exploration Informs Tibooburra RC Drilling Program
3 Refer to ASX news release by Manhattan Corp dated 10/07/2023 - New High-Grade Gold Discovery

• ⁴ Greenfield J & Reid W, 2006. Orogenic gold in the Tibooburra area of northwestern NSW- a ~440 Ma ore system with comparison to the Victorian Goldfields, ASEG Extended Abstracts, 2006:1, 1-8
• Ramsay W.R.H, Bierlein F.P, Arne D.C and Vanden Berg A.H.M, 1998. Turbidite-hosted gold deposits of Central Victoria, Australia: their regional setting, mineralising styles, and some genetic constraints, Ore Geology Reviews, Volume 13, Issues 1-5, 1998, Pages 131-151
• Hitchman, S.P., Phillips, N.J. and Greenberger, O.J., 2017 - Fosterville gold deposit: in Phillips, G.N., (Ed.), 2017 Australian Ore Deposits, The Australasian Institute of Mining and Metallurgy, Mono 32, pp. 791-796.

ABOUT NOVO

Novo is an Australian based gold explorer listed on the ASX and the TSX focussed on discovering standalone gold and copper projects with > 1 Moz development potential. Novo is an innovative gold explorer with a significant land package covering approximately 5,500 square kilometres in the Pilbara region of Western Australia, along with the 22 square kilometre Belltopper project in the Bendigo Tectonic Zone of Victoria, Australia.

Novo's key project area in the Pilbara is the Egina Gold Camp, where Northern Star Resources Limited (ASX: NST) is farming-in to form a JV at the Becher Project and surrounding tenements through exploration expenditure of A$25 million within 4 years for a 50% interest. The Becher Project has similar geological characteristics as Northern Star's 12.7 Moz Hemi Project^#. Novo is also advancing gold exploration south of Becher in the Egina Gold Camp, part of the Croydon JV (Novo 70%: Creasy Group 30%). Novo continues to undertake early-stage exploration elsewhere across its Pilbara tenement portfolio.

Novo has also formed a lithium joint venture with SQM in the Pilbara which provides shareholder exposure to battery metals.

Novo has recently strengthened its high-quality, Australian based exploration portfolio by adding the TechGen John Bull Gold Project in the New England Orogen of NSW, and Manhattan Tibooburra Gold Project in the Albert Goldfields in northwestern NSW. Both projects demonstrate prospectivity for significant discovery and resource definition and align with Novo's strategy of identifying and exploring projects with > 1 Moz Au potential. These high-grade gold projects compliment the landholding consolidation that forms the Toolunga Project in the Onslow District in Western Australia.

Novo has a significant investment portfolio and a disciplined program in place to identify value accretive opportunities that will build further value for shareholders.

Please refer to Novo's website for further information including the latest corporate presentation.

Refer to De Grey's ASX Announcement, Hemi Gold Project mineral Resource Estimate (MRE) 2024, dated 14 November 2024. No assurance can be given that a similar (or any) commercially viable mineral deposit will be determined at Novo's Becher Project.

Appendix 1: Collar locations for the Tibooburra RC program at Clone. All coordinates are in MGA1994, zone 54

Hole ID	Type	Depth (m)	Easting (m)	Northing (m)	Height (m ASL)	Dip °	Azimuth ° (grid)
TBR0001	RC	70	584,340	6,725,581	185	-60	90
TBR0002	RC	118	584,302	6,725,581	184	-61	94
TBR0003	RC	167	584,262	6,725,580	184	-61	94
TBR0004	RC	205	584,251	6,725,581	183	-71	89
TBR0005	RC	137	584,347	6,725,475	186	-61	62
TBR0006	RC	185	584,314	6,725,454	186	-62	59
TBR0007	RC	65	584,428	6,725,430	188	-60	58
TBR0008	RC	113	584,395	6,725,411	188	-61	56
TBR0009	RC	155	584,364	6,725,392	188	-61	59
TBR0010	RC	101	584,474	6,725,271	184	-61	60
TBR0011	RC	137	584,244	6,725,660	185	-62	90
TBR0012	RC	191	584,235	6,725,660	184	-76	88
TBR0013	RC	149	584,252	6,725,725	184	-66	91
TBR0014	RC	191	584,244	6,725,725	184	-76	89

Appendix 2: Significant intercepts greater than 0.5 gram*metres for the Novo RC program at Clone, using a 0.3 g/t cut-off and 3 m consecutive internal waste. Internal zones of high grade are based on a 0.5 g/t cut off and 2 m consecutive internal waste resulting in > 1 gram * metre

Hole ID	From (m)	To (m)	Interval (m)	Au (g/t)	Gram x metre Au	Intercept
TBR0001	16	28	12	5.90	70.8	12 m @ 5.9 g/t Au from 16 m
including	23	28	5	13.74	68.7	5 m @ 13.74 g/t Au from 23 m
TBR0001	48	50	2	0.41	0.8	2 m @ 0.41 g/t Au from 48 m
TBR0001	61	64	3	0.44	1.3	3 m @ 0.44 g/t Au from 61 m
TBR0003	8	9	1	0.83	0.8	1 m @ 0.83 g/t Au from 8 m
TBR0003	33	34	1	0.50	0.5	1 m @ 0.5 g/t Au from 33 m
TBR0005	6	7	1	0.89	0.9	1 m @ 0.89 g/t Au from 6 m
TBR0005	127	128	1	0.56	0.6	1 m @ 0.56 g/t Au from 127 m
TBR0008	103	104	1	3.79	3.8	1 m @ 3.79 g/t Au from 103 m
TBR0009	141	142	1	0.76	0.8	1 m @ 0.76 g/t Au from 141 m
TBR0011	71	73	2	1.47	2.9	2 m @ 1.47 g/t Au from 71 m
TBR0011	87	90	3	0.35	1.1	3 m @ 0.35 g/t Au from 87 m
TBR0011	99	100	1	0.49	0.5	1 m @ 0.49 g/t Au from 99 m
TBR0013	55	58	3	0.47	1.4	3 m @ 0.47 g/t Au from 55 m
TBR0013	82	86	4	1.64	6.6	4 m @ 1.64 g/t Au from 82 m
including	83	86	3	2.05	6.2	3 m @ 2.05 g/t Au from 83 m
TBR0013	105	115	10	0.45	4.5	10 m @ 0.45 g/t Au from 105 m
including	110	115	5	0.58	2.9	5 m @ 0.58 g/t Au from 110 m
TBR0013	122	124	2	0.93	1.9	2 m @ 0.93 g/t Au from 122 m
including	123	124	1	1.54	1.5	1 m @ 1.54 g/t Au from 123 m
TBR0014	59	76	17	2.40	40.8	17 m @ 2.4 g/t Au from 59 m
including	59	68	9	4.14	37.2	9 m @ 4.14 g/t Au from 59 m
And	73	76	3	0.78	2.3	3 m @ 0.78 g/t Au from 73 m
TBR0014	152	154	2	0.52	1.0	2 m @ 0.52 g/t Au from 152 m

Appendix 3: Significant intercepts greater than 0.5 gram*metres recalculated for the Manhattan 2023 RC program at Clone, using a 0.3 g/t cut-off and 3 m consecutive internal waste. Internal zones of high grade are based on a 0.5 g/t cut off and 2 m consecutive internal waste resulting in > 1 gram * metre

Hole ID	From (m)	To (m)	Interval (m)	Au (g/t)	Gram x metre Au	Intercept
CL0001	21	22	1	0.72	0.7	1 m @ 0.72 g/t Au from 21 m
CL0001	61	63	2	0.64	1.3	2 m @ 0.64 g/t Au from 61 m
CL0001	71	94	23	0.51	11.7	23 m @ 0.51 g/t Au from 71 m
including	74	84	10	0.74	7.4	10 m @ 0.74 g/t Au from 74 m
CL0002	47	48	1	1.48	1.5	1 m @ 1.48 g/t Au from 47 m
CL0002	61	90	29	1.37	39.6	29 m @ 1.37 g/t Au from 61 m
including	62	81	19	1.81	34.4	19 m @ 1.81 g/t Au from 62 m
And	84	90	6	0.58	3.5	6 m @ 0.58 g/t Au from 84 m
CL0003	18	24	6	1.05	6.3	6 m @ 1.05 g/t Au from 18 m
including	18	22	4	1.43	5.7	4 m @ 1.43 g/t Au from 18 m
CL0004	43	44	1	1.85	1.9	1 m @ 1.85 g/t Au from 43 m
CL0004	52	54	2	0.33	0.7	2 m @ 0.33 g/t Au from 52 m
CL0004	66	72	6	4.22	25.3	6 m @ 4.22 g/t Au from 66 m
including	68	72	4	6.21	24.8	4 m @ 6.21 g/t Au from 68 m
CL0004	81	82	1	0.49	0.5	1 m @ 0.49 g/t Au from 81 m
CL0004	86	89	3	0.34	1.0	3 m @ 0.34 g/t Au from 86 m
CL0004	95	98	3	0.42	1.3	3 m @ 0.42 g/t Au from 95 m
CL0005	17	31	14	0.50	7.0	14 m @ 0.50 g/t Au from 17 m
including	17	18	1	1.00	1.0	1 m @ 1.00 g/t Au from 17 m
And	21	28	7	0.61	4.3	7 m @ 0.61 g/t Au from 21 m
CL0005	35	39	4	0.55	2.2	4 m @ 0.55 g/t Au from 35 m
CL0005	44	49	5	1.63	8.2	5 m @ 1.63 g/t Au from 44 m
including	44	48	4	1.95	7.8	4 m @ 1.95 g/t Au from 44 m
CL0006	38	42	4	1.64	6.5	4 m @ 1.64 g/t Au from 38 m
including	39	42	3	2.03	6.1	3 m @ 2.03 g/t Au from 39 m
CL0006	47	53	6	0.33	2.0	6 m @ 0.33 g/t Au from 47 m
including	52	53	1	0.78	0.8	1 m @ 0.78 g/t Au from 52 m
CL0007	57	67	10	0.53	5.3	10 m @ 0.53 g/t Au from 57 m
including	57	59	2	0.74	1.5	2 m @ 0.74 g/t Au from 57 m
And	62	67	5	0.69	3.5	5 m @ 0.69 g/t Au from 62 m
CL0007	82	88	6	8.39	50.4	6 m @ 8.39 g/t Au from 82 m
CL0008	24	26	2	1.84	3.7	2 m @ 1.84 g/t Au from 24 m
CL0008	31	33	2	0.45	0.9	2 m @ 0.45 g/t Au from 31 m
CL0008	39	42	3	0.59	1.8	3 m @ 0.59 g/t Au from 39 m
including	39	41	2	0.68	1.4	2 m @ 0.68 g/t Au from 39 m
CL0008	61	67	6	0.92	5.5	6 m @ 0.92 g/t Au from 61 m
including	61	67	6	0.92	5.5	6 m @ 0.92 g/t Au from 61 m
CL0009	24	32	8	1.12	8.9	8 m @ 1.12 g/t Au from 24 m
CL0009	37	40	3	0.58	1.7	3 m @ 0.58 g/t Au from 37 m
including	39	40	1	1.24	1.2	1 m @ 1.24 g/t Au from 39 m
CL0010	5	6	1	0.51	0.5	1 m @ 0.51 g/t Au from 5 m
CL0010	16	25	9	6.03	54.3	9 m @ 6.03 g/t Au from 16 m
CL0010	31	32	1	1.03	1.0	1 m @ 1.03 g/t Au from 31 m
CL0010	40	41	1	0.63	0.6	1 m @ 0.63 g/t Au from 40 m

JORC Code, 2012 Edition - Table 1

Section 1: Sampling Techniques and Data

(Criteria listed in the preceding section also apply to this section)

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (e.g., cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where 'industry standard' work has been done this would be relatively simple (e.g., 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g., submarine nodules) may warrant disclosure of detailed information.	Drilling was conducted using a face sampling hammer using industry practice drilling methods to obtain a 1 m representative sample. RC drilling was completed by Strike Drilling using a truck mounted T450 drill rig. Samples were collected over one metre intervals using a rig mounted rotary cone splitter to obtain a representative sample of approximately 2 to 3 kg for assaying. The 2 - 3 kg sample was crushed and pulverised in full to obtain a 50-gram charge for Fire Assay for gold analysis A duplicate sample series in calico bags was maintained for future reference, with the bulk material placed in rows on the ground.
Drilling techniques	Drill type (e.g., core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g., core diameter, triple or standard tube, depth of diamond tails, face-sampling bit, or other type, whether core is oriented and if so, by what method, etc).	RC drilling used a dace sampling hammer using standard Reverse Circulation drilling techniques employed by Strike Drilling.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	RC samples were checked by the geologist for moisture content, and recoveries. The drilling contractor cleaned the rig mounted rotary cone splitter at regular intervals and as required. Dust suppression was used to minimise the loss of fines. No issues with sample recovery were identified.
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged.	For geologic logging, a representative sample of the RC chips was collected from each of the drilled intervals by spearing each sample pile. This representative aliquot was sieved, washed and then logged and stored in chip trays for future reference. RC chips were logged for lithology, alteration, degree of weathering, fabric, colour, abundance and style of quartz veining and sulphide mineralisation. All RC chips in trays have been photographed and are stored at the field facility in Tibooburra. All drilling intervals are sampled, logged, photographed, and stored.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality, and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled.	All samples were collected in numbered calico bags using the rig mounted cone splitter Field duplicates were collected from the cone splitter at 1:25 intervals, recording primary bag weights for both routine and duplicate sample to test for representativity. Field duplicates (4 per 100), blanks (2 per 100) and standards (2 per 100) are placed in the sample sequence. The calico sample bags were then placed in green plastic bags for transportation. Samples were secured and placed into bulka bags for transport to the ALS Laboratory in Adelaide, an accredited Australian Laboratory. The sample sizes are considered appropriate to the grain size of the material being sampled.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (e.g., standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (if lack of bias) and precision have been established.	Once received by ALS in Adelaide, all samples were pulverised to 85% passing 75 microns (Method PUL-23). Once pulverised, a 50 g aliquot was collected from the main sample and sent to ALS in Perth for a 50 g fire assay charge with AAS finish (Method Au-ICP22). Where results returned are >10 ppm Au (over range), the assay is determined using method Au-GRA22. Novo inserted field duplicates at a 1:25 ratio, and standards and blanks at a 1:50 ratio. No QAQC issues were identified. Laboratory QA/QC samples involving the use of blanks, duplicates, standards (certified reference materials) and replicates as part of in-house procedures.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data.	Primary quantitative and qualitative data was collected in the field using "Geobank For Field Teams" and excel, which was then submitted to the database manager to upload to the Geobank (v2025) database and buffered through a validation portal that ensures code and primary record compliance. Geobank is a front-end UX/UI tender software platform (developed and sold by Micromine) attached to a SQL v15.1 server. Assay data was loaded from lab certificates received from the registered laboratory by an internal database manager or external database consultant, and industry-standard audit trails and chain-of-custody was adhered to. Verification included checking the data against original logs and utilising laboratory certificates. No adjustments of the assay data were made.
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control.	Drill hole location coordinates were recorded with a Trimble RTX. The grid system used is MGA 94, Zone 54. The Trimble RTX is accurate to +/- 3 cm and adequate to provide location and topographic control. Downhole surveys were collected using a reflex North Seeking Gyro tool at intervals of 30 m downhole.
Data spacing and distribution	Data spacing for reporting of Exploration Results. Whether the data spacing, and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied.	Drilling was completed on 60 - 80 m spaced sections and aiming to intersect pierce points spaced at 40 m intervals. Due to the nature of mineralisation, drill spacing is not yet adequate to constrain or quantify the total size of the mineralisation at Clone, and further drilling is required. No sample compositing has been applied.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	Drill testing was designed to best intersect interpreted mineralised trends and structures at right angles to minimise bias in sample collection. All intervals are reported as down hole widths, as true orientation of mineralisation is still unknown.
Sample security	The measures taken to ensure sample security.	All samples are stored and managed on site by Novo staff. Samples are then transported by reputable companies to a registered laboratory where they are stored in a locked facility before being tracked and processed through the preparation and analysis system at the laboratory. Sample information is captured and tracked via sampled dispatch records, con notes, and lab work orders, to ensure all samples are accounted for.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	No audits have been undertaken.

Section 2: Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section)

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a license to operate in the area.	The Tibooburra project comprises tenements EL7437, EL8688, EL8691, EL9092, EL9094 and EL9202 and are held by Awati Resources Pty Ltd, a wholly owned subsidiary of Manhattan Novo met (and exceeded) its required minimum spend of $500,000, and is required to spend an additional $1M within the second earn-in period of 12 months to earn the option to form a 70 / 30 unincorporated joint venture with Manhattan, in which Manhattan is free-carried until the completion of a positive definitive feasibility study1 The tenement package is covered by two separate Native Title Claims. The Malyangapa Combined Proceedings (NC2022/0002) and the Wongkumara people (QC2008/003). The region is administered by the Tibooburra LALC based in Tibooburra The tenements are currently in good standing and there are no known impediments.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	Proto Resources and Investments completed an RC drilling program at the Pioneer and Phoenix project in 2006. Meteoric Resources completed RAB and Aircore drilling at the New Bendigo, Phoenix, Pioneer and The Kink prospects in 2011 and 2012. RAB holes at New Bendigo returned very strong gold anomalous results that highlighted the potential for significant gold mineralisation at the New Bendigo prospect. Meteoric Resources also completed soil, stream and rock chip sampling across selected areas of the tenure. Awati Resources completed diamond drilling in 2016 at New Bendigo as part of the NSW department Co-operative Drilling Program and followed up with an RC drilling program in 2018 confirming the gold anomalies in the 2011-2012 RAB drill program. Manhattan Corporation completed additional RC drill programs at New Bendigo, Clone, Phoenix and Pioneer, identifying a substantial high-order gold anomaly at the Clone prospect
Geology	Deposit type, geological setting, and style of mineralisation.	The Tibooburra Project covers the Tibooburra and Koonenberry Greenstone Belts. The district is widely regarded as the northern extension of the Victorian Goldfields. The project is located at the boundary between two major orogens (Delamarian and Thomson) and mineralisation consists of high-grade laminated quartz-sulphide veins hosted within Cambrian sedimentary rocks intruded by Devonian granites within a tightly folded and faulted domain.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes, including Easting and northing of the drill hole collar, Elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar, dip and azimuth of the hole, down hole length and interception depth plus hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	RC drilling collar information is listed in Appendix 1 RC drilling significant intercepts as intersected by Novo is listed in Appendix 2 Previous results from Manhattan are re-reported and listed in Appendix 3
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g., cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated.	No weighted averaging techniques were applied, and all intervals are 1 m in length and grades are not top-cut. Intercepts are reported at a 0.3 g/t cut off, with a maximum of 3 m of internal dilution. To represent shorter lengths of high-grade, a 0.5 g/t cut off is selected with 2 m internal dilution and only reported for those results that obtain a minimum of 1 gram * metre.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g., 'down hole length, true width not known').	Drill testing was designed to best intersect interpreted mineralised trends and structures at right angles to minimise bias in sample collection. All intervals are reported as down hole widths, as true orientation of mineralisation is still unknown.
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Refer to the body of the release for appropriate maps and diagrams.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	All significant results are reported, including re-reported significant results for the 2023 drilling completed by Manhattan, to ensure the data is accurately comparable.
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	No additional data.
Further work	The nature and scale of planned further work (e.g., tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Refer to the body of the release. Novo intends to complete additional work at the Tibooburra Project to better understand the mineralisation model. This work comprises mapping, diamond core relogging, and drill testing.

No Section 3 or 4 report as no Mineral Resources or Ore Reserves are reported in this Appendix

Figures accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/4fb3a092-c8fe-47f0-87c2-ba9552627a45

https://www.globenewswire.com/NewsRoom/AttachmentNg/aa1cb1b0-5b82-4538-b609-91a659205614

https://www.globenewswire.com/NewsRoom/AttachmentNg/388de28c-7f26-48da-a5c2-a90c9e2c7ba9

https://www.globenewswire.com/NewsRoom/AttachmentNg/f1e457ea-583b-456b-b45e-efd11af48618

https://www.globenewswire.com/NewsRoom/AttachmentNg/f71dbf04-2e9f-4260-bbe8-2eba87833da7

https://www.globenewswire.com/NewsRoom/AttachmentNg/bbed8477-b313-49e0-9185-6bb7ea7ed4b7

https://www.globenewswire.com/NewsRoom/AttachmentNg/a2f8edad-2f79-45cc-9657-8f9440339910

https://www.globenewswire.com/NewsRoom/AttachmentNg/c352ebf5-9ba6-4586-8914-ba6e39c73e65

https://www.globenewswire.com/NewsRoom/AttachmentNg/ba7864e6-cca8-480c-b1fc-57b43545340b