Novo Resources Corp.Suite 1980 – 1075 West Georg

Novo Resources Corp.Suite 1980 – 1075 West Georgia StreetVancouver, BC V6E 3C9  Not for distributionto United States Newswire Services or for dissemination in the United States  NOVORESOURCES ANNOUNCES PRIVATE PLACEMENT OF $4,000,100 VANCOUVER, November 22, 2012 - NovoResources Corp. (the “Company” or “Novo”) (CNSX: NVO) is pleased to announce that it hasarranged a brokered private placement (the “Financing”) to raise gross proceedsof up to $4,000,100. The Financing consists of the issuance of 6,154,000 units(each a “Unit”) at a price of $0.65 per unit.  Each Unit consists of one (1)common share and one (1) common share purchase warrant (each a “Warrant”). EachWarrant entitles the holder thereof to purchase one additional common share ofthe Company at a price of $0.90 per share for a period of 24 months from theclosing dateof the Financing.  The Warrants aresubject to an accelerated expiry whereby if the volume weighted average tradingprice of Novo’s common shares exceeds $1.20 for a period of 20 consecutivetrading days, Novo may provide notice to the Warrant holders of early expiryand the Warrants will expire on the date which is 30 days after the date ofsuch notice. The co-agentsare Fraser Mackenzie Limited and Bayfront Capital Partners Ltd. (collectivelythe “Agents”) and the Financing is subject to compliance with applicableregulatory requirements.  The Agents arealso granted an option, exercisable not later than 48 hours prior to theclosing of the Financing, to sell additional Units for aggregate proceeds of upto an additional $600,000.The Agents shall receive a cash commission equal to 6.0% ofthe gross proceeds and shall be granted warrants (the “Agent's Warrants”) bythe Company to acquire that number of Common Shares equal to 6.0% of theaggregate number of Units sold under the Financing, exercisable at a price of$0.65 per Agent’s Warrant for a period of 24 months from the closing date ofthe Financing.  This Financing will besold on a private placement basis pursuant to the “accredited investor”exemption under National Instrument 45-106 and certain other available andagreed upon exemptions.The Financingwill provide further funding for the Company’s ongoing work program and forgeneral corporate purposes.“Inspite of the recent depressed state of the junior exploration sector, we thinkit is critical to maintain positive momentum on our potentially world classBeatons Creek and Marble Bar gold projects in Western Australia,” commented Dr.Quinton Hennigh, President and CEO of Novo Resources. “Ongoing drilling continuesto expand the extent of gold mineralization at our Grants Hill target.  Two new nearby targets, Golden Crown Hill andRonkies Reef, will also be tested by year’s end.  We eagerly await return of all remaining goldanalyses from the current drill program at which time we will determine if thedata support a resource.”        About Novo Resources Corp.Novo’s focus is to evaluate, acquire and explore natural resourceproperties and make strategic investments in gold exploration companies. TheCompany presently has joint ventures earning a 70% interest two explorationproperties, Beatons Creek and Marble Bar, situated in Western Australia. Formore information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com.  On Behalf of the Board of Directors,Novo Resources Corp.“Quinton Hennigh”                            Quinton HennighCEO and President The Canadian National Stock Exchange has not reviewed and does notaccept responsibility for the adequacy or accuracy of the content of this newsrelease.  

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