Early Warning Report Filed Pursuant to Canada's National Instrument 62-103

Acquisition of Common Shares and Warrants of Novo Resources Corp.

SINGAPORE, Sept. 14, 2020 /CNW/ - This news release is issued by IMC Resources Gold Holdings Pte Ltd and its affiliated entities ("IMC") pursuant to the early warning requirements of Canada's National Instrument 62-103 with respect to common shares ("Common Shares") of Novo Resources Corp. ("Novo").

On September 7, 2020 IMC was issued 17,706,856 Novo units at a deemed price of C$3.25 per unit. Each unit is comprised of one (1) Common Share and one-half of one transferable Common Share purchase warrant (a "Consideration Warrant"), with each whole Consideration Warrant entitling the holder to acquire one Common Share at a price of C$4.40 until September 7, 2023. On September 14, 2020, IMC was issued a further 2,656,591 Novo units consisting of one (1) Common Share and one-half of one transferable Common Share purchase warrant (a "Debt Settlement Warrant"), with each whole Debt Settlement Warrant entitling the holder to acquire one Common Share at a price of C$4.40 until September 14, 2023.

IMC has therefore acquired a total of 20,363,447 Common Shares and an aggregate of 10,181,722 warrants. Prior to these acquisitions IMC held no securities in Novo. As a result of these acquisitions IMC beneficially, owns, controls or directs 20,363,447 Common Shares representing 8.94% of the issued and outstanding Common Shares. The Common Shares underlying the Warrants are also deemed to be owned under securities laws such that IMC is deemed to own an aggregate of 30,545,169 Common Shares which would represent 12.83% of the then outstanding Common Shares on a partly-diluted basis.

For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with these transaction, please go to Novo's profile on the SEDAR website (www.sedar.com), or contact Bruno Lorenzon at [phone]. IMC has an office at 9 Temasek Boulevard, #11-01 Suntec Tower Two, Singapore 038989.

SOURCE IMC Resources Gold Holdings Pte Ltd