Novo Resources — Board/Management Information 2021

Jan 19, 2021

Form 51-102F3 Material Change Report

Item 1. Name and Address of Company

Novo Resources Corp. (the “ Company ”) 880 - 580 Hornby Street Vancouver, BC V6C 3B6

Item 2. Date of Material Change

January 12, 2021.

• Item 3. News Release

News release dated January 13, 2021 was disseminated through GlobeNewswire.com.

• Item 4. Summary of Material Change

Michael Spreadborough has been appointed a director of the Company.

Item 5.1

Full Description of Material Change

Michael Spreadborough has been appointed a director of the Company. He is currently Chief Executive Officer of Metals X Limited (ASX:MLX) and previously Managing Director and Chief Executive Officer of Nusantara Resources and a Non-Executive Director of CleanTeQ Holdings. Mr. Spreadborough has a mining engineering background, with over 30 years’ experience in mining lead, zinc, uranium, copper, gold and iron ore.

Mr. Spreadborough has held roles across the scope of the resources industry, from business and project development to operations and exploration. In recent times, he was the General Manager - Mining for Western Mining Corporation, and then later the Vice President - Mining for BHP Billiton, at the world-class Olympic Dam Mine in South Australia. Mr. Spreadborough was previously the General Manager-Coastal Operations for RioTinto, responsible for port operations and the Pannawonica mine site in the Pilbara region of Western Australia. He then assumed the position of Chief Operating Officer for Inova Resources Ltd (formerly Ivanhoe Australia) and Sandfire Resources.

Michael Spreadborough holds a Bachelor of Mining Engineering from the University of Queensland, an MBA from Deakin University, and a WA First Class Mine Manager’s Certificate of Competency. Additionally, he is a Fellow of the Australasian Institute of Mining and Metallurgy and a member of the Australian Institute of Company Directors.

Item 5.2 Disclosure for Restructuring Transactions

Not applicable.

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Item 6. Reliance on subsection 7.1(2) of National Instrument 51-102

If this Report is being filed on a confidential basis in reliance on subsection 7.1(2) of National Instrument 51-102, state the reasons for such reliance.

Not applicable.

• Item 7. Omitted Information

Not applicable.

Item 8. Executive Officer

Ronan Sabo-Walsh, Chief Financial Officer

Telephone: +1 (604) 562-4854

Item 9. Date of Report

January 19, 2021.

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