Nova Minerals Ltd — AGM Information 2020

Dec 20, 2020

ASX: NVA | OTCQB: NVAAF | FSE: QM3

www.novaminerals.com.au

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NOVA MINERALS LIMITED AGM

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Disclaimer and Forward Looking Statement

The information contained in this confidential document (“Presentation”) has been prepared by Nova Minerals Limited (the “Company”). It has not been fully verified and is subject to material updating, revision and further amendment.

While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give, have given or have the authority to give, any representations or warranties (express or implied) as to, or in relation to, the accuracy, reliability or completeness of the information in this Presentation, or any revision thereof, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as “Information”) and liability therefore is expressly disclaimed. Accordingly, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the information or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation. Neither the issue of this Presentation nor any part of its contents is to be taken as any form of commitment on the part of the Company to proceed with any transaction and the right is reserved to terminate any discussions or negotiations with any prospective investors. In no circumstances will the Company be responsible for any costs, losses or expenses incurred in connection with any appraisal or investigation of the Company. In furnishing this Presentation, the Company does not undertake or agree to any obligation to provide the recipient with access to any additional information or to update this Presentation or to correct any inaccuracies in, or omissions from, this Presentation which may become apparent.

This Presentation should not be considered as the giving of investment advice by the Company or any of its shareholders, directors, officers, agents, employees or advisers. Each party to whom this Presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. In particular, any estimates or projections or opinions contained herein necessarily involve significant elements of subjective judgement, analysis and assumptions and each recipient should satisfy itself in relation to such matters.

Neither this presentation nor any copy of it may be (a) taken or transmitted into the United Kingdom, Canada, Japan or the United States of America, their territories or possessions; (b) distributed to any U.S. person (as defined in Regulation S under the United States Securities Act of 1933(as amended)) or (c) distributed to any individual outside Australia, Canada or Japan who is a resident thereof in any such case for the purpose of offer for sale or solicitation or invitation to buy or subscribe any securities or in the context where its distribution may be construed as such offer, solicitation or invitation, in any case except in compliance with any applicable exemption. The distribution of this document in or to persons subject to other jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the laws of the relevant jurisdiction.

The Company confirms that it is not aware of any new information or data that materially affects the information included in this document and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed from the announcements released on the ASX on 05 October 2020.

Competent person statement

Mr Dale Schultz P.Geo. , Principle of DjS Consulting, who is Nova groups Chief Geologist and COO of Nova Minerals subsidiary Snow Lake Resources Ltd., compiled the technical information in this presentation and is a member of the Association of Professional Engineers and Geoscientists of Saskatchewan (APEGS), which is ROPO, accepted for the purpose of reporting in accordance with ASX listing rules. Mr Schultz has sufficient experience relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Schultz consents to the inclusion in the report of the matters based on information in the form and context in which it appears.

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Another Transformational Year

• ➢ Continued Resource Growth ○ 3.3Moz Au Resource[1] within Korbel Main (Blocks A and B)

• significant exploration upside remains

➢ Favourable Mining Conditions

• Economic and Environmental Assessment work underway

• Excellent Deposit Characteristics: geometry/character, low strip, terrain and metallurgy

• ➢ Extensive mining history

• significantly de-risks development pathway

➢ Aiming to be the next low-cost gold producer in Alaska while growing gold resources

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Korbel Main

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PAD2
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1. See NVA ASX announcement on 05 October 2020 for further details

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Tintina Gold Province: Estelle Gold District

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>200 Mozs Au documented endowment Untold Mozs Au placer production Intrusion Related Au (IRGS) elephant country

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Estelle Gold District Location

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185 km northwest of Anchorage 15 km - Whiskey Bravo Airstrip 15 km - proposed Donlin Pipeline

LOCATION ACCESS

Aircraft: Anchorage to Whiskey Bravo Helicopter: Whiskey Bravo to Property Winter Road Access: Available Multi-Season Access Road: Nova Minerals and the Alaska Industrial Development Export Authority (AIDEA) have recently approved a joint agreement to advance studies for the West Susitna Access Road

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Korbel Main - Area of Interest

(ASX:19 February 2020)

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2020 Drilling Extends Mineralisation

• Korbel Main 3.3 Moz Gold

• Gold footprint with Korbel south east feeder system extends +1500m strike • Significant growth potential remains • Many holes end in mineralisation or have further depth potential

• New zones discovered, particularly to the south and east

• • New Korbel North Anomaly

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Drilling Defining Footprint
Drilling Defining Higher Grade Early Payback Zones
Korbel Main
PAD2 3.3 Moz Gold
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Drilling Defining Footprint

Higher Grade Domains Identified

( ASX: 1 December 2020)

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Drilling Extends Mineralisation

( ASX: 19 August 2020 & 16 October 2020)

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303 @ 0.4g/t incl. 226m
@ 0.5 g/t, 52m @ 0.8 g/t, 137m @ 0.6 g/t incl. 97m @ 0.7
27 @ 1.0g/t, 15m @ 1.1g/t g/t in KBDH-010
and 6 @ 2.1 g/t in
KDBH-018
Additional Significant new diamond drilling Historic SE11-01,
gold intercepts at Korbel Main include: 450m @ 0.4 g/t
549m @ 0.3 g/t Au from 3m 429m @ 0.6 g/t, Includes 101m @ 1.3 g/t
incl. 339m @ 0.4 g/t Au, 97 m @ incl. 82m @ 1.5 g/t, 30m @ 2.4 g/t, 3m @ 7.7
150m @ 0.6 g/t incl. 21m @ 1.6 g/t in KBDH-005 0.8 g/t Au, 15 m @ 2.3 g/t Au, g/t, 6m @ 4.7 g/t and 3m @ 8.2 g/t in
6m @ 4.7 g/t and 3m @ 8.2 g/t KDBH-012
163m @ 0.6 g/t incl. 87m @ 0.7 g/t in KBDH-009 Au in KBDH-024
South East of Block B continues to grow outside
the current 3.3Moz resource model
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Huge Untested Regional Potential - Expanded Tenure

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• Expanded claim block to 324km[2 ] across 507 state claims

• Korbel Main remains the main drilling focus and continues to grow with potential for new zones

• Four known intrusions outside the Korbel area plus more than 15 priority targets

• High potential to extend existing Mineral Resource of 3.3Moz (Korbel Main only) with known deposit still open

• Drill testing of regional targets to commence in 2021

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Cathedral Prospect (ASX: 03 December 2018 and 26 August 2020)

Sampling of high grade reconnaissance rock chip define high priority target within the Korbel Prospect at the Cathedral target

Rock chip samples returned high-grade gold results, including 6 samples greater than 10.0g/t and supporting lesser values:

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“The Cathedral”

● 141.0g/t, 98.3g/t, 37.1g/t, 24.5g/t, 19.6g/t and 11.05g/t

Chip Samples from Cathedral – 141 g/t

Arsenopyrite Vein from Cathedral -141 g/t Au

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Chip sample stations 207646-207648 in the general South Korbel map area, illustrating metallic values across three, ten meter chip sample sites (30 metre). The average grade of the sampled area is 1.17 g/t gold, 6,230 ppm arsenic, 1.67 g/t silver, and 1.40 g/t tellurium. In addition, sample 207646 contained 1,295 ppm copper.

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RPM Prospect	RPM Prospect
RPM Expands the	Resource Drilling Footprint for 2021
Sampling of high-grade reconnaissance rock chips, define		SE12-008	From (m)	To (m)		Grade g/t	Width
expanded footprint of high priority		Intersection	4.27	180.78		0.79	177.39
target within the RPM Prospect		Includes	26.00	146.40		1.02	120.40
● Rock samples returned		Includes	75.19	125.36		1.76	50.17
high-grade gold results:
291 g/t,103 g/t, 13.1 g/t, 9.3 g/t, 9.0
g/t, 8.8 g/t and 5 g/t

Initial drill location planned at RPM

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Project Studies and Works

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• De-risking studies and works underway:

• Metallurgy and environment studies

• Onsite sample prep lab and infrastructure

• Initial metallurgical testwork on Korbel:

• Phase 1 gold leach recoveries averaging 76% at the Korbel Deposit.

• carbon in leach (CIL) Studies underway

• Heap Leach Studies underway

Fort Knox gold mine, Alaska heap leach pad

• Bulk Ore Sorting upgrade by 25%

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• Particle ore sorting demonstrated 6g/t material

• Optimisation studies underway

• PEA Studies to be assess:

• Pit Optimisation

• Mine Design and Infrastructure

• Optimal Engineering design

• Trade off studies

• Economic Estimation

Nameplate capacity is the 1800 tons per hour XRT-based sorting plant at the Umm Wu’al phosphate mine in Saudi Arabia

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Year Round Camp Facility

Man Camp and Logging Facility Established

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Building a Solid Business

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Safety Environment
Risk and Safety,
Baseline Environmental
Health and
studies underway and
Environment
will continue throughout
Controls in Place
Delivering responsible exploration and
ESG business practices development
Successful COVID 19 that lead to both the
management creation of strong
economic returns for our Detailed environmental
Shareholders, and surveys starting 2021
shared value for our
Governance stakeholders.
People
Every decision and activity
we undertake is guided by
Community Relations
a framework that commits
Ongoing
us to the highest
standards of governance
Employ trades and
and ethics
services locally
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Focus for 2021

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Korbel RPM Regional Development
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RC/diamond drilling to	Maiden drilling program		Geochemical sampling	More detailed
expand and delineate the	of two known mineralized		and mapping programs	metallurgical testwork
footprint and depth of the	intrusions		across claims in 2021
known mineralisation				Phase 2 ore sorting test
	Maiden Resource late		Priority on Shoeshine,	work
Global Mineral Resource	2021		Stoney, T5, Train
in mid 2021				Baseline Environmental
	Anomalous gold		20 miles of strike length	surveys and commence
Zones remain open with	mineralisation and		with numerous unnamed	permitting
limits yet to be found	prospective geochemical		color anomalies to be
	targets will be followed		investigated	Mining and processing
Potential for further	up by diamond drilling			studies
convergence and new	starting 2nd quarter 2021		Additional claim staking
zones to be identifed			to expand land holding	Economical studies

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Focussed Growth Strategy

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Demonstrate Tier 1 Continue to grow Build organisational Ultimate objective to scale resource and resources at a capability and progress become a Tier 1 gold production potential at discovery cost well development studies producer at Korbel Korbel mid -2021 below industry average ● risus dolor porta Economic and Significantly Increase the Drill Korbel for resource environmental Maintain our sensible but current upgrade and RPM for aggressive timeline and assessment work ongoing 3.3Moz resource maiden resource 2021 approach Strong recruitment focus aligned with the company vision

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NVA Elevated Resource Growth

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Reflective of the Korbel Main Prospect Only

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Resource
3.3Moz Drilling
2.5Moz Ongoing
Million Ounces
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Cut-off	Inferred Mineral Resource	Inferred Mineral Resource	Inferred Mineral Resource
	Tonne (t)	Au (g/t)	Ounces (oz)
0.1	411,911,003	0.29	3,829,560
0.15	342,234,581	0.32	3,548,166
0.18	290,589,965	0.35	3,275,001
0.2	263,542,236	0.37	3,110,118
0.3	148,128,223	0.46	2,207,515
See NVA ASX announcement on 05 October 2020 for further details

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Snow Lake Resources

Executive Summary

Snow Lake Resources (“ Snow Lake ”) is a private Canadian exploration company focusing exclusively on lithium exploration in central Manitoba.

Snow Lake’s primary asset is the 100% owned Thompson Brother’s Lithium Project, located 20 km from Snow Lake, Manitoba.

Significant field work has been completed to date with a historical JORC compliant, inferred resource estimate of 6.3 Mt grading 1.38% Li2O (@0.6 Li2O cutoff) reported. (ASX: 25 July 2018)

Snow Lake has developed a strategic plan for further exploration and development of the project that includes the following milestones:

• Complete resource update in accordance with NI 43-101 (field work completed) to expand and upgrade to Indicated resources

• Complete of Preliminary Economic Evaluation study

• Complete next stage of resource development drilling leading to resource further expand/upgrade to the Measured and Indicated level

Snow Lake Resources has 65 million shares outstanding (2.7 million warrants) and is ~74% owned by Nova Minerals an ASX listed company located in Melbourne, Australia.

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Snow Lake Resources

Thompson Brothers Lithium Project

• There is currently a 6.3 Mt @ 1.38% Li2O

• JORC historical resource , containing 86,940 tonnes of Li2O using a 0.6% Li2O reporting cut-off (ASX: 25 July 2018)

• Two-pronged approach to improving investor

• wealth

• I. complete an NI 43-101 resource estimate update. (work completed, pending 43-101) II. Expand the resource and upgrade to Indicated classification

• Initial metallurgical test work yielded a

• spodumene concentrate grading 6.37% Li2O (ASX: 7 June 2018)

• 38 claims representing 5,596 ha largely

• unexplored

• Manitoba provincial matching development

• funds received

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THANK YOU FOR YOUR ATTENDANCE.

ANY QUESTIONS?

MORE INFO:

Email: info@novaminerals.com.au Website: www.novaminerals.com.au