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DISCOVERY DRIVEN AUSTRALIAN EXPLORER Focused on discovery of standalone gold and copper projects November 2025 ASX: NVO TSX: NVO OTCQB: NSRPF www.novoresources.com
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Cautionary Statement Nature of this document: This presentation is of a summary form only and therefore contains general background information about Novo Resources Corp (Novo or the Company) which may not be complete. It should be read in conjunction with, and full review made of, the Company’s continuous disclosure documents lodged under the Company’s profile on SEDAR+ at www.sedarplus.ca and on www.asx.com.au. Not an offer: This presentation is for information purposes only and does not constitute an offer or invitation to sell or any solicitation of an offer to buy any securities in the Company. This presentation and its contents must not be distributed, transmitted or viewed by any person in any jurisdiction where the distribution, transmission or viewing of this presentation would be unlawful pursuant to securities or other relevant laws of that jurisdiction. By accepting, accessing or reviewing this presentation you represent and warrant that you are entitled to receive such presentation in accordance with applicable laws. Not financial product advice: This presentation 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. You should consider obtaining professional advice and carrying out your own independent investigations and assessments of the information in this presentation (including any assumptions) before acting. Forward-Looking Statements: This presentation includes certain statements that constitute forward-looking information or forward-looking statements within the meaning of Canadian, United States and Australian securities laws (collectively, forward-looking statements). These forward-looking statements represent the Company’s intentions, projections, expectations or beliefs concerning, among other things, future operating and exploration results or the Company’s future performance. These forward-looking statements speak, and the presentation generally speaks, only at the date hereof. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, and are necessarily based on assumptions, which may cause the Company’s actual performance, results and achievements in future periods to differ materially from any express or implied estimates or projections. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Relevant factors which may affect the Company’s actual performance, results and achievements include changes in commodity price, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, diminishing quantities or grades of reserves, political and social risks, changes to laws and regulations, environmental conditions, and recruitment and retention of personnel. These statements appear in a number of places in this presentation and include statements regarding the intent of the Company, or the beliefs or current expectations of the Company’s management. When used in this presentation, words such as “intends”, “expects”, “will be”, “underway”, “targeted”, “planned”, “objective”, “expected”, “potential”, “continue”, “estimated”, “would”, “subject to” and similar expressions are intended to identify these forward-looking statements. Cautionary Note Concerning Technical Disclosure and U.S. Securities Laws: This presentation has been prepared in accordance with the requirements of the securities laws in effect in Canada and Australia, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all exploration results and resource and reserve estimates included in this presentation have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) and the JORC Code (defined below). The definitions used in NI 43-101 are incorporated by reference from the Canadian Institute of Mining, Metallurgy, and Petroleum (CIM - Definition Standards adopted by CIM Council on May 10, 2014 (CIM Definition Standards). The U.S. Securities and Exchange Commission (SEC) adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the Securities Exchange Act of 1934, as amended. These amendments became effective February 25, 2019 (SEC Modernization Rules) with compliance required for the first fiscal year beginning on or after January 1, 2021. The SEC Modernization Rules replace the historical disclosure requirements for mining registrants that were included in SEC Industry Guide 7, which has been rescinded. As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources”. Investors are cautioned that while the above terms are “substantially similar” to the corresponding CIM Definition Standards, there are differences in the definitions under the SEC Modernization Rules and the CIM Definition Standards. Accordingly, there is no assurance any mineral resources that the Company may report as “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” under NI 43-101 would be the same had the Company prepared mineral resource estimates under the standards adopted under the SEC Modernization Rules. Investors are also cautioned that while the SEC will now recognize “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources”, investors should not assume that any part or all of the mineralization in these categories will ever be converted into a higher category of mineral resources or into mineral reserves. Mineralization described using these terms has a greater amount of uncertainty as to its existence and feasibility than mineralization that has been characterized as mineral reserves. Accordingly, investors are cautioned not to assume that any “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources” that the Company reports are or will be economically or legally mineable. Further, “inferred mineral resources” have a greater amount of uncertainty as to their existence and as to whether they can be mined legally or economically. Therefore, investors are also cautioned not to assume that all or any part of the “inferred mineral resources” exist. In accordance with Canadian securities laws, estimates of “inferred mineral resources” cannot form the basis of feasibility or other economic studies, except in limited circumstances where permitted under NI 43-101. For the above reasons, information contained in this presentation describing the Company’s mineral deposits may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder. Similar principles will apply in respect to any reporting under the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) (see below). Technical Information: Dr. Quinton Hennigh (P.Geo.), Mrs. Karen (Kas) De Luca (MAIG), Dr. Christopher Doyle (MAIG), Mr. Iain Groves (MAIG), and Dr Simon Dominy (FAusIMM CPGeo; FAIG RPGeo) are the qualified persons, as defined in NI 43- 101, who have reviewed, approved and verified the technical content of this presentation. They have sufficient experience, which is relevant to the style of mineralisation and activities being undertaken to qualify as a Competent Person as described by the JORC Code, 2012. They consent to the inclusion in this presentation of the matters based on their information in the form and context in which it appears. Dr. Hennigh is the Company’s Non-Executive Co-Chairman and a director. Mrs. De Luca is the Company’s General Manager – Exploration. Dr. Doyle is the Company’s Exploration Manager – Victoria. Mr. Groves is the Company’s Principal Geologist - Technical & Generative. and Dr Dominy is a Technical Advisor to Novo. Disclaimer: No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisers and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation, or any opinions or beliefs contained in this document, and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. The Company is under no obligation to update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice. Reference to market announcements: Novo confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements referenced in this corporate presentation. Unverified information: This presentation may contain information (including information derived from publicly available sources) that has not been independently verified by the Company. Novo Resources Corporate Presentation | November 2025 2
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Novo Resources Corporate Presentation | November 2025 Acknowledgement of Country We acknowledge the Traditional Owners of the land upon which we operate; the Palyku, Nyamal, Kariyarra, Ngarluma, Yinhawangka, Yindjibarndi, Yaburara and Mardudhunera, Puutu Kunti Kurrama people, the Pinikura peoples, Dja Dja Wurrung people, Malyangapa Group, Thalanyji People and the Wongkumara people. We recognise their unique cultural heritage, beliefs and connection to these lands, waters and communities. We pay our respects to all members of these Indigenous communities, and to Elders past, present and emerging. We also recognise the importance of continued protection and preservation of cultural, spiritual and knowledge practices. As we value treating all people with respect, we are committed to building successful and mutually beneficial relationships with the Traditional Owners throughout our area of operations. 3
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Exploration Focused, Discovery Driven 4Novo Resources Corporate Presentation | November 2025 A diversified, high quality, gold exploration and development portfolio across leading mining provinces in Australia with an increased focus on copper Portfolio has mix of assets, from Greenfields to Advanced Exploration, with prospectivity for standalone projects of > 1 Moz Au (equivalent) development potential Strong balance sheet and investments to fund exploration and project generation with supportive share holders Highly experienced board, management and exploration team who bring global experience and proven success across exploration and development Dedicated project generation program focused on identifying advanced gold and copper assets to expand the Company’s exploration and development opportunities Aggressive exploration approach with drill programs across key projects delivering continuous news flow
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Strategy Focused on Shareholder Value Strategy Delivery • Dedicated project generation program focused on identifying advanced gold and copper assets to expand the Company’s exploration and development opportunities • John Bull, Tibooburra and Toolunga projects added in December 2024 • Seeking further Advanced Exploration and Advanced Resource Projects • Strong balance sheet and investment portfolio • Supportive shareholders across the TSX and ASX • Experienced board, management and exploration team with global exploration and development experience 5Novo Resources Corporate Presentation | November 2025 Strategy focused on optimal value accretion stages of discovery and development Priority One – Discovery Focus Focused discovery of standalone gold and copper projects that demonstrate > 1 Moz Au (equivalent) development potential. Priority Two – Development Focus Development of gold and copper projects to deliver sustained cashflow to shareholders. Lassonde Curve – Investment Lifecycle from Exploration to Operations OPERATIONS FINANCING FEASIBILITY DISCOVERY EXPLORATION LOW VALUE HIGH VALUE Strategy 1 Strategy 2 DEVELOPMENT DEFINITION
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Strong Fundamentals for Gold & Copper • The gold spot price recently hit all-time highs of US$4,000 and is currently trading ~US$3,985 • Since the start of 2024: • Gold price has increased by ~94% • Copper price has increased by ~28% • During times of strong inflation and geopolitical uncertainty gold is seen as a leading commodity investment and recognised as a safe-haven investment. • Australia is a tier-one jurisdiction for early gold explorers, known to have some of the best deposits in the world • Copper is a leading clean energy metal – to meet global electrification goals more than double the amount of copper mined throughout history will need to be produced over the next 30 years • Who will fill the copper supply gap? • The copper market is incredibly tight due to scarce supply of new production Novo Resources Corporate Presentation | November 2025 6 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 Nov-20 Jan-21 Mar-21 May-21 Jul-21 Sep-21 Nov-21 Jan-22 Mar-22 May-22 Jul-22 Sep-22 Nov-22 Jan-23 Mar-23 May-23 Jul-23 Sep-23 Nov-23 Jan-24 Mar-24 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25 Jul-25 Sep-25 Nov-25 Gold Spot Price (USD) $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 Nov-20 Jan-21 Mar-21 May-21 Jul-21 Sep-21 Nov-21 Jan-22 Mar-22 May-22 Jul-22 Sep-22 Nov-22 Jan-23 Mar-23 May-23 Jul-23 Sep-23 Nov-23 Jan-24 Mar-24 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25 Jul-25 Sep-25 Nov-25 Copper Spot Price (USD)
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Corporate Structure and Experienced Leadership Portfolio Valuation Shares Valuation San Cristobal Mining Inc. (unlisted) 0.8M common shares A$21M Elementum 3D (unlisted) 2M common shares A$14M *Kalamazoo Resources (ASX:KZR) 10M ordinary shares A$2M *Kali Metals (ASX:KM1) 0.6M ordinary shares A$0.1M Total Portfolio Value A$37M • The cash balance as at 31 October 2025. • Following the acquisition of Millennium Minerals Pty Ltd in 2020, Novo is still liable for a deferred consideration to IMC of A$12.6m payable by December 2026 with a built-in discount mechanism for early repayment. • The investment portfolio value was calculated using the spot price of the listed shares on 31 October 2025, the valuation of the unlisted shares are in line with management valuation as at 31 October 2025. Please refer to slide 30 for further detail on Novo’s investment portfolio. • Please note that the above list of shareholders excludes the objective beneficial owners and non-objective owners as defined by the TSX. These shareholders with holdings above 1% hold approximate 5% of the register. • The top 10 Shareholders account for 33% of the overall share register. Novo Current Shares on Issue 355M Market Capitalisation A$58M Cash A$11M Liquid Marketable Securities* A$1M Debt - Enterprise Value A$46M Top Shareholders % Northern Star Ltd 10.0% Liatam Mining Pty Ltd 6.2% IMC (Singapore) 5.7% Mark Creasy/Creasy Group 4.4% Max & Gaylene Munday 2.8% Quinton Hennigh 1.0% Donald Smith Value Fund LP 1.0% Wythenshawe Pty Ltd 1.0% Ernest Lister Pickering 0.9% Novo Resources Corporate Presentation | November 2025 7 Dr. Quinton Hennigh Non-Executive Co-Chairman & Director Denver, CO, USA Mr. Michael Spreadborough Executive Co-Chairman & Director Perth, WA, Australia Mrs. Karen O’Neill Independent Director Perth, WA, Australia Mr. Greg Jones Independent Director Sydney, NSW, Australia Mrs. Elza van der Walt CFO & Corporate Secretary Perth, WA, Australia Mrs. Kas De Luca General Manager Exploration Perth, WA, Australia
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Quality Portfolio to Deliver Shareholder Value Western Australia New South Wales Victoria Advanced Resource Advanced Exploration Advanced Greenfields Greenfields Karratha District Sherlock Crossing Sb-Au Whundo Nth Balla Balla EGC - Teichman Toolunga BelltopperEgina JV - Heckmair Egina JV - Irvine Egina JV - Lowe John Bull Tibooburra Egina Gold Camp (EGC) SE Wyloo Sb-Au (Ag-Cu) Novo Resources Corporate Presentation | November 2025 8
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Novo’s Enhanced Exploration Portfolio Novo Resources Corporate Presentation | November 2025 9 JOHN BULL GOLD PROJECT TechGen Metals Farm-in and JV Ready for RC drilling H2 2025 TIBOOBURRA GOLD PROJECT Manhattan Corp. Farm-in and JV with RC drilling completed in H1 2025 BELLTOPPER GOLD PROJECT Targeting Fosterville ‘style’ mineralisation* Exploration Target developed – refer slides 16 and 17 TOOLUNGA Consolidated prospective 1,520 sq km landholding targeting IRG systems in the Onslow District TEICHMAN PROJECT Access to Yandeyarra received, initial reconnaissance rock chips outstanding BALLA BALLA GOLD PROJECT Emerging project focused on the Sholl Shear Zone with AC drilling completed H1 2025 EGINA JV Partnering with Northern Star in the Egina Gold Camp at Becher SHERLOCK CROSSING RC drilling completed at the high- grade Au-Sb historic Clarke Mine HARDING JV Li-Ni JV with SQM over 820 sq km * No assurance can be given that Novo will achieve similar results at the Belltopper Gold Project SOUTHEAST WYLOO Au-Sb target with recon mapping programs completed in H2 2025
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JOHN BULL GOLD PROJECT TechGen Metals Farm-In and JV Advanced exploration opportunity in the emerging New England Fold Belt of NSW * No assurance can be given that Novo will achieve similar results at the Belltopper Gold Project BELLTOPPER GOLD PROJECT Targeting Fosterville ‘style’ mineralisation* in the prolific Bendigo Tectonic Zone of Victoria Exploration Target developed – refer slides 16 and 17 TIBOOBURRA GOLD PROJECT Manhattan Corp. Farm-In and JV Advanced high-grade exploration opportunity covering the historic Albert Goldfield of NSW NSW and Victoria Portfolio Novo Resources Corporate Presentation | November 2025 10
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John Bull Gold Project - NSW Novo Resources Corporate Presentation | November 2025 11 Positioned in an emerging province - New England Orogen of NSW: • Project area covers 32 sq km and includes two tenements owned by TechGen Metals (ASX: TG1) John Bull considered an advanced exploration opportunity with compelling historical results from surface sampling and drilling including: • A 1.5 km long coherent gold in soil anomaly > 100 ppb Au with several samples reporting > 4.5 g/t Au1 • Best results from 17 RC holes including: • 94 m @ 0.95 g/t Au from 4 m incl. 66 m @ 1.14 g/t Au (JBRC0006)1 • 68 m @ 1.00 g/t Au from 0 m incl. 23 m @ 2.02 g/t Au (JBRC0001)1 Initial field program by Novo: • Classified the mineralisation at John Bull as an Intrusion Related Gold System (IRGS), characterised by late-stage, gold-mineralised sheeted quartz veins hosted at the margin of hornfels around a porphyry intrusion • Extended strike of the gold in soil anomaly from recent sampling and suggests the extent of the vein system is 1.5 km • Identified the preferred host rock to mineralisation during mapping • Delineated structural controls on high grade mineralisation Four Key Target areas focused on the 1.5 km vein system trend and have been defined for follow up RC drilling in H2 2025
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John Bull Gold Project – Previous RC Drill Results Novo Resources Corporate Presentation | November 2025 12 E-W Drill section showing 130 m wide mineralisation and internal higher grades System open below 120 m depth below surface1 17 RC drill holes completed for 2,249.5 m (2022 and 2023) with the deepest hole drilled to 146.5 m, effectively testing to only 120 m vertical Only ~300 m of the 1.5 km long gold-in-soil anomaly tested by drilling to date Peak results from four sections of drilling over 300 m strike include: • 68 m @ 1.0 g/t Au from surface incl. 23 m @ 2.02 g/t Au (JBRC0001)1 (higher grade intervals include 7 m @ 3.10 g/t Au from 55 m and 4 m @ 4.58 g/t Au from 39m)1 • 94 m @ 0.95 g/t Au from 4 m incl. 66 m @ 1.14 g/t Au and 17 m @ 1.08 g/t Au (JBRC0006)1 All sections remain open at depth and the system remains open in all directions Understanding the higher-grade component of the mineralisation is an immediate focus
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Tibooburra Gold Project - NSW Novo Resources Corporate Presentation | November 2025 13 Located in northwest NSW, Tibooburra covers much of the historic Albert Goldfield*: • Project area over ~ 630 sq km and includes six granted exploration licenses owned by Manhattan Corp. (ASX: MHC) • Multiple mineralised trends identified with historic workings delineated over 22 km strike, many trends are under cover Tibooburra is considered a high-grade advanced exploration opportunity with exciting historical results from previous surface sampling and drilling, including: • Two advanced drill ready target areas at Clone (including the Clone trend) and New Bendigo with best historic drill results of: • 16 m @ 13.89 g/t Au from 1 m, incl 3 m at 69.20 g/t Au (NB0083- New Bendigo)1 • 9 m at 6.03 g/t Au from 16 m (CL0010 - Clone)1 Novo’s maiden RC drill program of 14 holes (1,984 m) at Clone demonstrated grade and width continuity delivering high-grade results including: • 12 m @ 5.90 g/t Au from 16 m including 5 m @ 13.74 g/t Au from 23 m (TBR0001) 2 • 17 m @ 2.40 g/t Au from 59 m including 9 m @ 4.14 g/t Au from 59 m (TBR0014) 2 Recent field programs in H2 2025 focussed on generating additional targets in the district. Results highlight the potential for high-grade gold from multiple reefs, within an extensive multi-kilometre-scale alteration corridor *No assurance can be given that Novo will achieve similar results at the Tibooburra Gold Project Project tenure, with regional geology and main prospects highlighting multiple parallel mineralised trends
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Tibooburra Gold Project Recent Reconnaissance Programs Novo Resources Corporate Presentation | November 2025 14 Recent mapping at multiple prospects across Tibooburra, down-hole televiewer and acoustic surveys at Clone and re-logging core from Pioneer and New Bendigo, have significantly advanced geological understanding of this gold system, confirming shallow to moderate NNW plunging high -grade shoots as the primary target style New targets include Pioneer which is defined by a > 2 km long + 30 ppb gold-in- soil anomaly and multiple lines of historic workings including shafts up to 76 m in depth. Mapping and sampling also highlighted a continuous high -grade gold trend in rock chip results at Pioneer along ~ 575 m strike, and a multielement As-Sb-W association Rock chip results from the reconnaissance mapping defined new targets including Pioneer North, with peak result of 39.9 g/t Au3 Pioneer South (undrilled) stands out as highly prospective, where high-grade gold reefs outcrop over approximately 600 m, are co-incident with multiple historic gold workings and where 7 of the 20 rock chip samples assayed > 4 g/t Au with a peak result of 19.8 g/t Au in recent Novo field work 3 Plan view of quartz reefs with recently returned rock chip assays at the Pioneer prospect and 30 ppb soil Au anomaly3
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Tibooburra Gold Project Clone and Pioneer Targets Novo Resources Corporate Presentation | November 2025 15 Clone Target Newly derived data from downhole televiewer surveys coupled with mapping and sampling, and results from maiden RC drilling at Clone, indicate a shallow NNW plunging shoot open at depth Pioneer Trend Targets Targets are high-grade NNW plunging shoots, interpreted along a strike length of > 2 km, based on mapping and rock chip results, historic mine workings and historic drilling results, and structural and lithological logging of core holes Clone long section with surface rock chip results, and drilling pierce points with planned follow-up RC drilling pierce points (white dots) 3 Long section interpretation showing the Southern Pioneer and Main Shaft targets, historic shafts, previous drilling pierce points and recent rock chip results 3
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Belltopper Gold Project - Victoria Novo Resources Corporate Presentation | November 2025 16*No assurance can be given that Novo will achieve similar results at Belltopper. Located ~50 km south of Agnico Eagle’s Fosterville Gold Mine in the Bendigo Tectonic Zone, where over 60 Moz Au were produced historically* Belltopper displays characteristics of the epizonal orogenic gold deposit class comparable to Fosterville* Diamond drilling in 2024 delineated several new gold reefs, and extension potential demonstrated on several key historic reefs. A new high-priority north-west trending target corridor was also defined. Detailed re-logging and additional sampling from 11 historical diamond holes in 2024 delivered multiple new significant gold intercepts across a range of known and emerging targets Re-logging also confirmed controls on higher-grade mineralisation and refined the position of several target reefs and key structural features such as modelled high-grade shoots and high priority target anticline corridors Novo’s evolving geology model has delineated multiple, high priority, drill-ready targets for further assessment in 2025 Belltopper Project with regional existing and historical mineral resources Refer slide 35 for source documents
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Belltopper Gold Project - Exploration Target Novo Resources Corporate Presentation | November 2025 17 Metric Low case (approximation) High case (approximation) Tonnage range 1.5 Mt 2.1 Mt Grade range 6.6 g/t Au 8.4 g/t Au Contained Au range 320 koz Au 570 koz Au ** Cautionary Statement: An Exploration Target as defined in the JORC Code (2012) is a statement or estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnes and a range of grade (or quality), relates to mineralisation for which there has been insufficient exploration to estimate a Mineral Resource. Accordingly, these figures are not Mineral Resource or Ore Reserve estimates as defined in the JORC Code (2012). The potential quantities and grades referred to above are conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. These figures are based on the interpreted continuity of mineralisation and projection into unexplored ground often around historical workings. The Exploration Target has been prepared in accordance with the JORC Code (2012), as detailed in the Company’s ASX announcement released on 25 September 2024 (available to view at www.asx.com.au). The Tonnage range for the exploration target is 1.5 Mt to 2.1 Mt, the Grade range is 6.6 g/t Au to 8.4 g/t Au and the Ounces range from 320 koz Au to 570 koz Au. Dr Christopher Doyle (MAIG) and Dr Simon Dominy (FAusIMM CPGeo; FAIG RPGeo), are the qualified persons, as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for, and having reviewed and approved, the technical information relating to the exploration target. Dr Doyle is Novo’s Exploration Manager - Victoria and Dr Dominy is a Technical Advisor to Novo. Refer to slide 34 for JORC Compliance Statement The Belltopper Exploration Target was released in September 2024 following completion of Novo’s diamond drilling programs and release of assay results Belltopper Exploration Target** range of 320 koz to 570 koz Au4 defined through geological modelling of priority target reefs Exploration Target** is based on seven reefs considered to show high prospectivity from geological, drilling, and historical data Exploration Target** excluded numerous emerging prospective zones and conceptual targets based on progressive geological and geochemical understanding
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Novo Resources Corporate Presentation | November 2025 18 ~ 6,800 sq km of highly prospective ground in the Pilbara and Onslow District provides Novo with exciting exploration and discovery potential; in addition, Novo has JV interests with Northern Star and SQM over ~ 1,780 sq km Northern Star is Novo’s partner in the Egina Farm-in/Joint Venture arrangement in the Mallina Basin following its acquisition of De Grey Mining Recent access permissions allowing field work in the Yandeyarra Reserve have enabled successful mapping and sampling at the Teichman Project producing standout gold results AC drilling completed at the Balla Balla Gold Project in Q2 2025 tested structural targets on a major flexure in the Sholl Shear Zone Au-Sb targets at Sherlock Crossing - RC drilling at the high grade Au-Sb Clarke Mine completed with encouraging results Au-Ag-Sb targets at Wyloo - access has been finalised for follow up mapping and sampling in H2 2025 prior to planning drill targets for H1 2026 Desktop compilation work at Toolunga continues in readiness for tenement grant Large Landholding in Pilbara and Onslow Districts
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Pilbara Portfolio – Egina JV Egina Farm-In/JV – Northern Star Resources Ltd. Novo Resources Corporate Presentation | November 2025 19 Partnered with Northern Star Resources Ltd. (ASX: NST) for the Becher Project and ~1,000 sq km prospective Mallina Basin tenure at Egina. • A$7 million minimum expenditure commitment, mostly on the Becher Project, completed in 2024 5 • Next major milestone allows Northern Star the right to earn a 50% joint venture interest in the Egina tenements by spending a further A$18 million deadline June 2027 The Egina tenements are highly prospective for significant structural and intrusion-related gold deposits and share similar attributes to the nearby Hemi deposits* Multiple anomalous Gold intercepts recorded at the Heckmair, Lowe, Irvine and Whillans prospects after the completion of over 100,000 m aircore and RC drilling in the Becher Area by Novo and De Grey. Current focus by NST at the Mallina Project targeting the Croydon Anticline and continued targeting of prospects surrounding Gillies in the Farno JV. *No assurance can be given that similar (or any) commercially viable mineral deposit will be determined at Egina. See also the information on slide 33.
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Novo Resources Corporate Presentation | November 2025 20 The Teichman Project is located in the Egina Gold Camp directly to the south of the Novo-NST Egina Farm-in area, and forms part of a JV with the Creasy Group (30%) Permits were granted during September 2025 allowing field work in the Yandeyarra Reserve Mapping and geochemical sampling in the Teichman area defined multiple prospects over an area of 1.3 x 2.5 km with strong potential along two main shear corridors Targets are characterised by complex structure, multiple vein arrays, intense alteration and high-grade gold assay results with 11 of 87 samples collected grading > 10 g/t Au6 Exceptional rock-chip assay results were returned from several prospects6: • 77.5 g/t Au, 9.3 g/t Ag and 0.24% Cu at Pride NNE • 51.4 g/t Au, 7.9 g/t Ag and 0.59% Cu at Pride N • 30.33 g/t Au Teichman • 17.5 g/t Au at Teichman N • 38.3 g/t Au at Mountain Maid (see next slide) Pilbara Portfolio - Egina Gold Camp Teichman Project
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Novo Resources Corporate Presentation | November 2025 21 Pilbara Portfolio - Egina Gold Camp Teichman Project Mapping covered ~1.7 km trend at Pride, ~1.0 km trend at Teichman, and additional reconnaissance across Cu Anomaly and Mountain Maid prospects. 6
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Pilbara Au-Sb Projects – Sherlock Crossing Novo Resources Corporate Presentation | November 2025 22 Scout RC drilling was completed with 8 holes for 1,026 m testing high-grade Au-Sb from the historic Clarke Mine, discovered in 1906 and operated from 1907 to 1916. According to historic records, the mine initially produced 16 tonnes of dressed concentrate grading 53% Sb and 10.9 g/t Au to 72.9 g/t Au and in 1916, a further 5.66 tonnes of dressed concentrate grading 42.2% Sb and 15.6 g/t Au**7 Targeted hand-picked rock chip sampling of mine spoils at surface by Novo yielded grades of up to 4.7% Sb and 146.7 g/t Au and validate high grades reported historically from mining activities7 Reconnaissance work has identified a north-south trending structural corridor with anomalous Sb results from stream, soil and rock chip sampling suggesting a large footprint (possibly 3 km strike) entirely untested by modern exploration Follow up surface sampling and mapping has delineated a coherent 1.5 km Sb in soil anomaly (at > 15 ppm Sb 8), with rock chip samples up to 0.22% Sb8. **Maitland, a Gibb (1919) Antimony deposits in Western Australia, Geological Survey of Western Australia. Sherlock Crossing, showing extended soil anomaly > 15 ppm Sb to the SW of the proposed first pass drilling area at the Clarke Mine 8
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Pilbara Au-Sb Projects – Sherlock Crossing Novo Resources Corporate Presentation | November 2025 23 The maiden RC program was completed with 8 holes for 1,026 m testing high-grade Au-Sb from the historic Clarke Mine. Peak results returned from drilling include: • 3 m @ 2.96 g/t Au and 1.86% Sb from 108 m in LCR0005 including 1 m @ 7.71 g/t Au and 4.77% Sb 6 Gold and antimony mineralisation occurs in intervals associated with thick intersections of quartz veining and silicified ultramafic/mafic wall rock. Strong carbonate alteration is present in proximity to mineralisation and As and Sb pathfinder elements appear to vector downward. The system remains open at depth. Sherlock Crossing RC drill plan with rock chip results and cross section showing key Au-Sb intercepts and As geochemistry Carbonate alteration is strengthening and mineralisation is open at depth6.
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Pilbara Au-Sb Projects – Southeast Wyloo Novo Resources Corporate Presentation | November 2025 24 Early-stage exploration project generated by Novo in 2024 and ranked highly for antimony potential Initial reconnaissance rock chip sampling completed in mid-2023 yielded peak results of 387 g/t Ag, 2.4% Cu, 0.38% Sb, 0.52 g/t Au, 5.0% Pb and 1.6% Zn9 Two ~ 2 km strike high-order antimony(± gold) stream sediment anomalies identified In H1 2025, reconnaissance mapping and surface sampling was designed to test this polymetallic anomalism in the prominent quartz vein system identified during the initial mapping. Peak results from rock chip sampling include 0.93 g/t Au, 482 g/t Ag, 1.29% Sb, 2.62% Cu, 9.7% Pb and 15.95% Zn10 with consistent high grades of silver and antimony throughout the sampling. Results confirm the ~150 m trend of the major quartz vein system for drilling. All compliance requirements have commenced to support a maiden RC program to test the strike of the vein outcrop. Geological mapping and significant Sb and Ag rock chip results at the SE Wyloo prospect 9,10
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Balla Balla Gold Project Novo Resources Corporate Presentation | November 2025 25 An early-stage exploration project generated by Novo and centered on the fertile Sholl Shear Zone and associated structures Prospective for intrusion related and structurally hosted gold mineralisation In April 2025, Novo completed a maiden AC program of 187 holes for 5,996 m on regionally spaced lines. The program tested several prospects over a 10 km trend, targeting the Sholl Shear Zone and interpreted splay faults under shallow cover Results from the AC drilling delineated: • Broad zones of low-level gold anomalism (peak 0.114 ppm Au) along the Sholl Shear8 • Significant results from multielement assays of bottom hole samples and select drill holes include 96.8 ppm Ag, 182 ppm Sb, 353 ppm Cu, and 71.6 ppm Bi8 Peak Au-Ag-Bi-Sb-Cu-Mo at Ramquarry and south Babbage along the Sholl Shear indicate significant hydrothermal activity Peak silver values are related to an interpreted fold axis in regional magnetics and porphyritic mafic intrusion
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Toolunga Project - Onslow District Novo Resources Corporate Presentation | November 2025 26 Ground consolidation by Novo during 2024 secured a strategic position in the Onslow District including approximately 1,520 sq km: 1. Cane River Project: Potential JV on four Exploration Licence applications (once granted) totalling 890 sq km held by OD4 Rocklea 2. 100% Novo owned area of six Exploration Licence Applications totalling 634 sq km on vacant ground in nearby area, under shallow cover of the Edmund Basin Highly prospective under-explored Terrain, with substantial areas of untested shallow cover where prospectivity for large scale intrusion-related systems is deemed high The district has geochemical signatures of Intrusion Related Gold (IRG), porphyry, Iron Oxide Copper Gold (IOCG) and related deposit styles (epithermal, intermediate sulphidation) Tenement package contains several old mining centres and numerous targets defined by gravity and magnetic anomalies and anomalous surface geochemistry
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ESG Supports Strategy Delivery Novo is committed to delivering value to our stakeholders by operating in a responsible and sustainable manner. Our approach to sustainability is built around three key pillars, which integrate all aspects of our business: Operating with Integrity: We believe strong corporate governance is essential to the success of our business. We honour our commitments, and act in an ethical and transparent manner. Valuing our People and Communities: We seek to create an inclusive environment, and a culture that supports the health, safety and wellbeing of our employees. We respect culture and heritage and aim to make a positive contribution to the communities in which we operate. Building Environmental Resilience: We recognise the importance of environmental stewardship and seek to understand and manage our impact on the environment. Novo Resources Corporate Presentation | November 2025 27 Refer to the Company’s sustainability statement - https://novoresources.com/sustainability/
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Exploration Focused, Discovery Driven Novo Resources Corporate Presentation | November 2025 28 Strong balance sheet with cash of ~A$11 million (C$10 million) and investments of ~A$37 million (C$33 million) Aggressive exploration approach with drill programs across key projects delivering continuous news flow Advanced exploration projects at John Bull and Tibooburra in NSW and at Belltopper in Victoria Northern Star Resources Limited (ASX: NST), Novo’s partner in the Egina JV, continues to review previous data in planning for future exploration programs Exploration portfolio has mix of assets, from Greenfields to Advanced Exploration, with prospectivity for standalone projects of > 1 Moz Au (equivalent) development potential Ongoing disciplined project generation program focused on identifying advanced gold and copper assets to expand the Company’s exploration and development opportunities Highly experienced board, management and exploration team who bring global experience and proven success across exploration and development Supportive shareholders across the TSX and ASX
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ADDITIONAL INFORMATION 29
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Investment Portfolio Novo Resources Corporate Presentation | November 2025 30 Novo’s balance sheet is supplemented by a A$37 million (C$33 million) investment portfolio of shares in ASX-listed and unlisted companies across the resources and technology sectors: *ASX-listed shares were converted to C$ using an exchange rate of 1.0905 : 1. **The valuation of the unlisted shares is in line with management’s valuation as at 31 October 2025, converted using an exchange rate as at 31 October 2025 from US$ to C$ of 1 : 1.4018 and C$ to A$ of 1 : 1.0905 and taking into account the methodologies described in the Company’s 2024 annual consolidated financial statements (2024 Annual Financial Statements). As outlined in the 2024 Annual Financial Statements , shares held in Elementum 3D and San Cristobal Mining are initially recognised at fair value (and remeasured with reference to share prices at which funds are raised with third-party investors) or were based on independent valuations performed. For further information on Novo’s investment portfolio, please refer to Novo’s website. Ticker Number of shares held Novo interest Value A$'000 Value C$'000 ASX-listed shares* Kalamazoo Resources Limited KZR 10,000,000 4.14% $1,750 $1,605 Kali Metals Limited KM1 566,947 0.38% $91 $83 Unlisted shares** San Cristobal Mining Inc. Unlisted 842,500 1.62% $20,607 $18,896 Elementum 3D Inc. Unlisted 2,076,560 8.63% $14,062 $12,895
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NSW Projects Farm-In/JV Transaction Summary Novo Resources Corporate Presentation | November 2025 31 New England John Bull Gold Project Albert Goldfields Tibooburra Gold Project Counter party TechGen Metals Ltd TechGen NSW Pty Ltd Andrew Sloot Manhattan Corporation Ltd Awati Resources Pty Ltd Type Farm – in agreement Farm – in agreement Initial payment A$300,000 worth of Novo Shares 500,000 Novo Shares Minimum spend 1,500 m Drilling A$500,000 minimum spend Second Tranche A$200,000 worth of Novo Shares 1,000,000 Novo Shares Minimum spend 1,500 m Drilling A$1,000,000 minimum spend Timeline Tranche 1 = 12 months Tranche 2 = 18 months Tranche 1 = 12 months Tranche 2 = 12 months Proposed Joint Venture (Managed by Novo) Jackadgery JV Novo -70% TechGen NSW - 20% Andrew Sloot -10% John Bull JV Novo - 80% TechGen NSW - 20% Novo - 70% Awati - 30%
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Endnotes - Novo News Releases 32Novo Resources Corporate Presentation | November 2025 Date Released to ASX Date Release to TSX Description 1 13 December 2024 13 December 2024 Novo Strengthens portfolio with two High-Grade projects in NSW, Australia 2 09 July 2025 08 July 2025 High-grade results from RC Drilling at Tibooburra Gold Project 3 06 November 2025 05 November 2025 New South Wales Exploration Update High-Grade Rock Chips from Tibooburra 4 25 September 2024 24 September 2024 Belltopper mineralisation modelling defines prospectivity 5 10 October 2024 09 October 2024 De Grey reaches A$7m minimum spend at Egina Gold project and continues investment 6 11 November 2025 10 November 2025 Strong gold results from Teichman High-Grade Antimony results from Sherlock 7 10 December 2024 9 December 2024 Pilbara Exploration Update 8 20 June 2025 19 June 2025 Pilbara Exploration Update, High-Grade Gold and Antimony targets 9 12 September 2024 11 September 2024 Evaluation of Pilbara Antimony gold potential generates positive results 10 04 September 2025 03 September 2025 Drilling commences at Sherlock Crossing Gold – Antimony Prospect
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Cautionary Statement De Grey Mining (ASX : DEG) Information Subsequently acquired by Northern Star (ASX: NST) De Grey Hemi and Regional Global Mineral Resource Estimate details are reported below. Refer to De Grey’s ASX announcements, including its announcement dated 14 November 2024, for further details. Novo Resources Corporate Presentation | November 2025 33 No assurance can be given that a similar or any mineral resource estimate will be determined at Novo’s Becher Project.
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JORC Compliance Statements Previous Exploration Results The information in this news release that relates to previously reported exploration results at Novo’s projects is extracted from each of the Novo announcements referred to in endnotes 1-3 and 6-10, each of which were released to ASX and each of which are 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 announcements and that all material assumptions and technical parameters underpinning the estimates in the market 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 has not been materially modified from the original market announcements. Belltopper Exploration Target Novo initially announced its Exploration Target for Belltopper to ASX on 25 September 2024 in its announcement entitled “Belltopper Mineralisation Modelling Defines Prospectivity” (which is available to view at www.asx.com.au) (Exploration Target Announcement). The information in this announcement that relates to the Belltopper Exploration Target is based on information compiled by: (a) Dr Christopher Doyle, a Competent Person who is a Member of the Australasian Institute of Geoscientists (MAIG). Dr Doyle is E xploration Manager – Victoria for Novo and is a full-time employee of Novo. Dr Doyle has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Dr Doyle consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears; and (b) Dr Simon Dominy, a Competent Person who is a Fellow of both the Australasian Institute of Geoscientists (FAIG RPGeo) and Australasian Institute of Mining and Metallurgy (FAusIMM CPGeo). Dr Dominy is employed by Snowden Optiro and is a Technical Advisor to Novo. Dr Dominy has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Dr Dominy consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. As a basis for the Belltopper Exploration Target, Novo applied its geological understanding of the reef network at Belltopper , drawing upon 3D reconstruction of historic mining and exploration data, drilling data, structural and geochemical data, field mapping (including high-resolution LiDARTM interpretation), and surface rock chip sampling. Further information about Novo’s Exploration Target at Belltopper, along with a more detailed explanation of the basis for the Exploration Target (including a specific description of the level of exploration ac tivity already completed at Belltopper), is contained in the Exploration Target Announcement. Novo Resources Corporate Presentation | November 2025 34
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References See the following for source documents in relation to the historical gold production figures (refer slide 13) for Bendigo, Fo sterville, Costerfield, Castlemaine, Ballarat, Sunday Creek and Comet. • Wilson, C. J. L., Moore, D. H., Vollgger, S. A., & Madeley, H. E. (2020). Structural evolution of the orogenic gold deposits in central Victoria, Australia: The role of regional stress change and the tectonic regime. Ore Geology Reviews, 120, 103390. • Phillips, G. N., & Hughes, M. J. (1996). The geology and gold deposits of the Victorian gold province. Ore Geology Reviews, 11(5), 255-302. • Costerfield Operation, Victoria, Australia, NI 43-101 Technical Report, March 2024 • Agnico Eagle Mines Detailed Mineral Reserve and Mineral Resources Statement (as at December 31, 2023). Agnico Eagle Mines Limited. Fosterville Gold Mine. Retrieved August 21, 2024, from Agnico Eagle Website. • For Comet and Sunday Creek exploration results, refer: Great Pacific Gold (TSXV:GPAC) Company TSXV release dated 11 January 2 024, and Southern Cross Gold (ASX:SXG) Company ASX release dated 5 March 2024, respectively. • Production figures for Bendigo, Castlemaine and Ballarat include combined alluvial and hard rock production. • Gold endowment for Fosterville include historic production + reserves + resources as at 31/12/2023. • Gold endowment for Costerfield equals historic production + resource (including reserves) as at 28/03/2024. 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 data set out in the figure on slide 12 and therefore is not to be regarded as reporting, adoptin g or endorsing those results/figures. No assurance can be given that Novo will achieve similar results at Belltopper. Novo Resources Corporate Presentation | November 2025 35
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www.novoresources.com ASX: NVO / TSX: NVO / OTCQB: NSRPF NORTH AMERICA CONTACT: Telephone: +1-416-543-3120 Email: leo@novoresources.com AUSTRALIA CONTACT: Telephone: +61-419-329-687 Email: mike.spreadborough@novoresources.com