Novo Resources Corp. (OTCPK:NSRP.F) entered into a binding terms sheet to acquire 2,900 sq. km of Prospective Pilbara Tenure from Creasy Group Pty Ltd. for AUD 9.2 million on June 15, 2020. Pursuant to term sheet which Novo will consolidate sole ownership of 510 Sq. km of existing tenure and acquire ownership of an additional 2,390 Sq. km of highly prospective new tenure in the Pilbara region of Western Australia. As consideration for the Transaction, Novo will issue 2.6 million common shares, of which 8,431 Consideration Shares will not be issued until FIRB approval has been obtained. Novo Resources Corp. completed the acquisition of a 99.67% stake in 2,900 sq km of Prospective Pilbara Tenure from Creasy Group Pty Ltd. on September 15, 2020. Novo Resources issued 2.582269 million shares to Creasy Group Pty Ltd. being the first completion shares. Novo Resources will issue an additional 8,431 common shares, being second completion shares to Creasy Group Pty Ltd. upon receipt of Australian Foreign Investment Review Board approval of certain aspects of the Terms Sheet. The first completion shares are subject to a statutory hold period expiring on January 15, 2021. The second completion shares will be subject to a statutory hold period expiring four months from the date of issuance. Post first completion shares, Creasy Group Pty Ltd. held 6.46% of the issued and outstanding shares of Novo Resources. Novo Resources appointed Chris Mardon as Senior Manager, operations for Novo's Nullagine gold project and Brad Woodland as Mining Manager for Novo's Nullagine gold project.

The Transaction is subject to completion of definitive documentation and assignment of relevant third-party agreements as well as approval from the TSX Venture Exchange and other customary regulatory approval for transactions of this nature, including approval from the Australian Foreign Investment Review Board.

Novo Resources Corp. (OTCPK:NSRP.F) completed the acquisition of 2,900 sq. km of Prospective Pilbara Tenure from Creasy Group Pty Ltd. on January 20, 2023 along with approval from Australian Foreign Investment Review Board.