Jan 7 (Reuters) - Novo Resources Corp:
* NOVO AND SUMITOMO CORPORATION EXTEND MEMORANDUM OF UNDERSTANDING TO ADVANCE NOVO'S AUSTRALIAN PROJECTS
* NOVO RESOURCES - EXTENDED EXPANDED PREVIOUSLY ANNOUNCED NON-BINDING MEMORANDUM OF UNDERSTANDING WITH SUMITOMO CORPORATION OF TOKYO, JAPAN
* NOVO RESOURCES CORP - SUMITOMO COMMITS TO MAKE AVAILABLE UP TO 5 BILLION JAPANESE YEN IN ORDER TO ACCOMPLISH OBJECTIVES
* NOVO RESOURCES CORP - SUMITOMO WILL RETAIN SOLE AND EXCLUSIVE RIGHT TO DETERMINE FINAL FUNDING MECHANISM
* NOVO RESOURCES CORP - NOVO SHALL SEEK APPROVAL FROM BOARD OF DIRECTORS TO PROVIDE SUMITOMO WITH RIGHT OF FIRST REFUSAL OVER PROJECT.