Nova Minerals Ltd — Capital/Financing Update 2017

Apr 19, 2017

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QUANTUM RESOURCES LIMITED

(ASX: QUR)

ASX and Media Release

20 April 2017

Amending Agreement on Thompson Bros Lithium Project

Quantum Resources Limited (ASX: “QUR” or “the Company”) announces that it’s 100% subsidiary, Manitoba Minerals Pty Ltd (“MMPL”) has entered into an amending agreement with respect to the previously‐announced Option Agreement with Ashburton Ventures Inc (" ABR ").

Pursuant to the new amending agreement, ABR will now be responsible for share payments owing to the underlying holder of the Project, Strider Resources Ltd (SRL). ABR will now be responsible to issue 2.25 million common ABR shares to SRL, in annual instalments of 500,000 shares, ending in April 2021. As a result, MMPL will forego its right to acquire a further fifteen per cent holding (15%) in the Project from ABR for cash consideration of C$1,000,000. If MMPL accelerates the option payments and satisfies all the option terms early, then ABR must issue all the remaining shares to SRL within 30 days of receipt of the option notice.

Upon MMPL earning its 80% interest in the Project, ABR will be responsible to financially contribute to the Joint Venture on a pro‐rata basis (20%).

MMPL will continue to earn an 80% interest in the Project. See ASX announcement dated 12 May 2016 for further details.

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