11:15 AM EST, 12/13/2024 (MT Newswires) -- Novo (NVO.TO) said Friday it signed separate option agreements to acquire two gold projects in New South Wales, Australia.

The company said it secured an option to acquire the John Bull gold project from TechGen Metals and the Tibooburra gold project from Manhattan Corp.

Novo said both projects support its strategy of identifying "drill ready" exploration targets with "with (more than) 1 Moz development potential."

The company added that both projects also satisfy its key sustainability criteria for potential future development.

Novo shares were last seen unchanged at $0.08 on the Toronto Stock Exchange.