Novo Resources Announces Closing of Private Placement

(via Thenewswire.ca)

VANCOUVER, November 30, 2011 - Novo Resources Corp. (the "Company") (CNSX: NVO) is pleased to announce that it has closed a non-brokered private placement raising gross proceeds of $5,913,000 by the issuance of 14,782,500 units at a price of $0.40 per unit. Each unit consists of one (1) common share and one (1) common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional common share of the Company at a price of $0.60 per share for a period of two (2) years from the closing date of the private placement.

All securities issued in this private placement are subject to a statutory hold period expiring on March 31, 2012. The Company has agreed to pay a cash finder's fee of $49,350 in connection with this private placement.

About Novo Resources Corp.

Novo's focus is to evaluate, acquire and explore natural resource properties. The Company presently has an option to earn a 70% interest in an exploration property situated in Western Australia, namely the Beatons Creek Tenements. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@frontlineir.com.

On Behalf of the Board of Directors,

Novo Resources Corp.

"Quinton Hennigh"

Quinton Hennigh

CEO and President

The Canadian National Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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