Nova Minerals Ltd — Capital/Financing Update 2017

Sep 17, 2017

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QUANTUM RESOURCES LIMITED

(ASX: QUR)

ASX and Media Release

18 September2017

Quantum completes Placement heavily oversubscribed and Company Update – Decision made on Halcyon HPA (High Purity Alumina) Project and progress on Thompson Brothers Lithium Project

Quantum Resources Limited (ASX: “QUR” or “the Company”) is pleased to provide the following update.

Placement

Quantum has received firm commitments to place 29 million new fully paid ordinary shares at an issue price of $0.0055 (0.55 cents) per share to raise $159,500 before associated costs.

The placement is being undertaken to strategic sophisticated investors, and will be completed within the Company’s existing placement capacity under ASX Listing Rule 7.1 (21,512,230 shares) and 7.1A (7,487,770 shares).

Halcyon High Purity Alumina Project

On 8 June 2017, the Company announced the potential acquisition of Halcyon Resources Pty Ltd (Halcyon), an Australian private minerals exploration and process engineering company focused on the production of High Purity Alumina (HPA) and high purity silica from the Tambellup kaolin clay deposit using their innovative production method, the Griffin Process.

During the due diligence period, QUR engaged a number of specialist consultants to investigate all aspects of the project involving geological, metallurgical, process engineering, financial and marketing in order to be fully informed before making a decision to proceed. The feedback from the specialists engaged was overwhelmingly positive and QUR believes the project has real merit.

However, the financial parameters involved with both pilot testing, and full-scale production in particular, preclude QUR proceeding with the acquisition in its original form. The Company has instead negotiated to maintain a 26.3% interest in Halcyon and the HPA project for a total of $55,000. This investment will be made with no dilution to existing QUR shareholders and allow the Company

Quantum Resources Ltd. Level 17, 500 Collins Street, Melbourne, VIC, 3000. Phone: +61 3 9614 0600 Fax: + 61 3 9614 0550

to retain significant exposure to future development of the HPA project. Quantum has the right to appoint one director to Halcyon.

Thompson Brothers Lithium Project

Given the recent results from the Thompson Brothers lithium project, the Board is confident in the historical resource numbers as a minimum for the pegmatite already known. The Company has decided to use available funds to progress exploration in the surrounding leases with the intent of defining more lithium assets within the Thompson Brothers land holdings thus seeking to significantly expand upon the existing known resource.

The Company is in the process of designing a geochemical soil sampling program to identify lithium anomalies that can indicate the location of buried pegmatite dykes. Company director and geologist, Olaf Frederickson is planning to return to site to initiate this project during October with the aim to complete the field work before the coming winter utilising local contractors.

The board feels this approach will provide the highest impact results for targeted future exploration drilling for the lowest possible cost and in the earliest timeframe possible as well as provide a snapshot of the potential of the entire area.

QUR is excited to continue its exploration efforts and we look forward to updating shareholders in due course.

For and on behalf of the Board

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Avi Kimelman Director

Quantum Resources Ltd. Level 17, 500 Collins Street, Melbourne, VIC, 3000. Phone: +61 3 9614 0600 Fax: + 61 3 9614 0550

About Quantum Resources Limited (ASX: “QUR” or the “Company”):

QUR own the rights to back in to earn up to 80% ownership interest of the Thompson Bros. Lithium Project from Ashburton Ventures Inc. by financing their commitments relating to their Option Agreement with Strider Resources Ltd.

The Thompson Bros. Lithium Project, located in Manitoba, Canada contains a historical (NON-JORC COMPLIANT) resource estimate of 4,305,000 tonnes of 1.3% Li2O, open at depth and along strike. These estimates are historical estimates and are not reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the historical estimates as mineral resources and/or reserves in accordance with the JORC Code. It is uncertain that following evaluation and/or further exploration work that the historical estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code.

Competent Person Statement

The information in this announcement that relates to Exploration Results is based on information compiled by Mr Olaf Frederickson. Mr Frederickson is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”).

Quantum Resources Ltd. Level 17, 500 Collins Street, Melbourne, VIC, 3000. Phone: +61 3 9614 0600 Fax: + 61 3 9614 0550