Novo Boosts Belltopper Target by Up to 48%, Plans Multiple 2026 Drilling Campaigns

Belltopper Project – A Step Change in Potential

Novo Resources Corp has unveiled a substantial upgrade to the Exploration Target at its Belltopper Gold Project in Victoria, marking a pivotal moment for the company’s Victorian portfolio. The updated 2026 Exploration Target now ranges between 2.1 to 3.1 million tonnes at grades of 6.7 to 8.9 grams per tonne gold, representing a 40% to 48% increase in tonnage and up to a 6% improvement in grade compared to the 2024 target. This boost is underpinned by the addition of a new reef and extensions to existing reefs, reflecting a refined geological understanding bolstered by historic data and modern analysis.

Located just 120 kilometres northwest of Melbourne and near established gold operations, Belltopper’s enhanced target positions Novo to potentially tap into a prolific gold region. Planning is underway for drilling in the second half of 2026, aiming to validate these promising estimates and advance the project towards resource definition.

High-Grade Discoveries Across the Portfolio

Beyond Belltopper, Novo’s exploration efforts have yielded impressive results across multiple projects. At Teichman in the Egina Gold Camp, rock chip assays have returned exceptional grades, including a peak of 77.5 grams per tonne gold, highlighting multiple prospects along key shear corridors. Similarly, the Tibooburra Gold Project in New South Wales has revealed new targets with rock chip samples reaching nearly 40 grams per tonne gold, underscoring the potential for high-grade shoots.

In Western Australia, the Wyloo Au-Ag-Sb Project has seen significant advancement with new targets identified and a maiden drilling program scheduled for Q2 2026. Scout drilling at Sherlock Crossing has confirmed gold and antimony mineralisation with notable intercepts, and the system remains open at depth, suggesting further upside.

Regulatory Progress and Upcoming Drilling Campaigns

Novo has secured all necessary regulatory approvals for drilling at the John Bull Gold Project near Grafton, NSW, with landholder access negotiations progressing. The company has outlined an ambitious drilling schedule for 2026, focusing on Wyloo, Balla Balla, and Onslow Toolunga projects in the second quarter, with additional programs planned for later in the year. These campaigns are expected to generate a steady flow of exploration news and potential resource updates.

Financial Strength and Leadership Transition

Financially, Novo maintains a robust position with A$8.5 million in cash and an investment portfolio valued at approximately A$23 million, providing a solid foundation for its exploration activities. The company also announced a leadership change with the resignation of General Manager Exploration Karen (Kas) De Luca after eight years, with Bruce Hooper stepping in as interim. Hooper brings extensive global experience, which should support Novo’s ongoing exploration momentum.

Overall, Novo Resources is advancing a diversified and high-potential portfolio across Australia’s premier gold provinces, combining strategic project generation with disciplined exploration to unlock value for shareholders.