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VANCOUVER, April 24, 2012 - Novo Resources Corp. (the "Company") (CNSX: NVO) is pleased to announce that it has completed the purchase of 1,987,527 common shares (the "Prosperity Shares") and 833,333 share purchase warrants (the "Prosperity Warrants") of Prosperity Goldfields Corp. (TSXV:PPG) from Evolving Gold Corp. announced in February 2012 (see Novo news release of February 29, 2012). Of these securities, 1,192,516 of the Prosperity Shares and 500,000 of the Prosperity Warrants are held in escrow.
Prosperity Goldfields Corp. and Smash Minerals Corp. completed their amalgamation earlier today. The amalgamated company, named Prosperity Goldfields Corp., is listed on the TSX Venture Exchange (trading symbol PPG).
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. The Company also holds non-controlling investments in other junior resource companies. 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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