March 23 (Reuters) - Kalamazoo Resources Ltd KZR.AX :
* NOVO ENTERS JOINT VENTURE WITH KALAMAZOO ON QUEENS PROJECT IN VICTORIA
* UNDER TERMS OF JOINT VENTURE NOVO NOW HAS RIGHT TO EARN A FURTHER 20% IN QUEENS PROJECT
* EXERCISE CONSIDERATION IS ISSUE TO CO OF A$2 MILLION IN NOVO COMMON SHARES
* NOVO RESOURCES CORP. HAS EXERCISED OPTION TO EARN AN INITIAL 50% INTEREST IN CO'S VICTORIAN EXPLORATION LICENCE