Belltopper Gold Project Mineral Resource

Novo Resources Corp. (ASX: NVO) (TSX: NVO) announced an Inferred Mineral Resource estimate for the Leven Star Reef at its 100% owned Belltopper Gold Project in Victoria, Australia. The resource totals 760,000 tonnes at 3.6 grams per tonne gold, equating to 87,000 ounces of contained gold, and was assessed based on underground mining methods. The Leven Star Reef is one of eight reefs comprising the project’s Exploration Target, with mineralization considered open in multiple directions, allowing for potential resource growth. The Belltopper Gold Project is situated 120 km northwest of Melbourne and approximately 60 km south of Agnico Eagle’s Fosterville Gold Mine, within the historically productive Bendigo Zone. The project’s proximity to existing infrastructure, including Kaiser Reef Limited’s Maldon processing plant (40 km northwest) and Alkane Resources Limited’s Costerfield operation (50 km northeast), supports its development potential. The resource estimate assumes a gold price of A$5,250 per ounce, with mining and processing costs of A$162 and A$119 per tonne, respectively, and an 88% metallurgical recovery rate. Planning for further drilling is advanced for the second half of 2026 to define the current Exploration Target reefs and test additional known historic reefs. High-priority targets within the Belltopper Anticline Corridor will also be evaluated. The project’s resource estimate, effective June 9, 2026, was prepared in accordance with the JORC Code (2012) and includes assumptions for underground mining via sub-level open stoping with a 90% mining recovery rate. The Leven Star Reef’s mineralization is considered suitable for eventual economic extraction within 5 to 10 years, pending changes in gold prices, operating costs, and regulatory conditions. The resource was reported diluted within Mineable Shape Optimizations above a gold cut-off grade of 1.9 g/t. Additional underexplored historic gold reefs outside the current Exploration Target remain potential near-term opportunities for resource expansion.