VANCOUVER, British Columbia, April 27, 2022 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to advise that it has closed the first tranche of its previously announced sale of 15 million shares (the “Transaction”) of New Found Gold Corp. (“New Found”). A total of 8.25 million New Found shares have been transferred to a corporation controlled by Eric Sprott at C$8.35 per share for gross proceeds of approximately C$68.9 million1