Novo's Pilbara Prospects: Antimony-Gold Opportunities in a Changing Market

Vancouver, British Columbia -- Novo Resources Corp. (NVO) has announced positive results from a review of its extensive geochemical and geological datasets across its West and Central Pilbara land holdings, targeting antimony (Sb) -- gold (Au) potential. This assessment comes at a crucial time, as China's recent export restrictions on antimony, effective from mid-September, have led to a near doubling of its price since the start of 2024. The critical metal, predominantly used in flame retardant products, solar panels, lead-acid batteries, and the defense industry, has seen a significant increase in demand. Notably, China accounted for 48% of global antimony mine production in 2023.

Through this assessment, Novo has identified two early-stage prospects with substantial Sb, Ag, Au, Cu, Pb, and Zn potential: the historic Sherlock Crossing (Clarke) antimony mine and the Southeast Wyloo prospect. Both prospects are located on 100% Novo-owned tenements, presenting an exciting opportunity for the company to explore and develop these resources.

**Sherlock Crossing (Clarke) Antimony Mine**

The Sherlock Crossing (Clarke) antimony mine, discovered in 1906 and operated between 1907 and 1916, is a historic Sb-Au mine with significant potential. According to historic records, the mine produced 16 tonnes of dressed concentrate grading 53% Sb and 10.9 g/t Au in 1907 and a further 5.66 tonnes of dressed concentrate grading 42.2% Sb and 15.6 g/t Au in 1916. Mineralization was traced over 1,207 m strike and tested by a series of shafts, pits, and trenches. Recent reconnaissance work by Novo, including rock chip sampling and soil sampling, yielded peak results of 1.71 g/t Au and 592 ppm Sb.

**Southeast Wyloo Prospect**

The Southeast Wyloo prospect, featuring two 2 km-strike high-order Sb (± Au) stream sediment anomalies, has also shown promising results. Reconnaissance rock chip sampling completed by Novo in mid-2023 yielded peak results of 387 g/t Ag, 5.0% Pb, 1.6% Zn, 2.4% Cu, 0.38% Sb, and 0.52 g/t Au. These results highlight the prospect's potential for a polymetallic deposit.

Novo's 100% ownership of the tenements containing these prospects provides the company with strategic positioning and potential for growth in the antimony-gold sector. As the importance of antimony continues to increase due to supply changes and demand growth, Novo is well-positioned to capitalize on these trends. However, the company faces challenges in exploring and developing these prospects, including the need for detailed follow-up exploration work and potential environmental and permitting hurdles. By addressing these challenges and leveraging its strong geological expertise, Novo can maximize the potential value of these prospects.

In conclusion, Novo Resources Corp.'s evaluation of its Pilbara antimony-gold potential has generated positive results, highlighting the substantial opportunities in the region. As the market for antimony continues to evolve, Novo's strategic positioning and exploration efforts present an attractive investment opportunity for those seeking exposure to the critical metals sector.

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