Nova Minerals Ltd — Capital/Financing Update 2017

Mar 1, 2017

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QUANTUM RESOURCES LIMITED

(ASX: QUR)

ASX and Media Release

2 March 2017

COMPANY UPDATE

Capital Raising and Director Participation

Further to the Company advising that it had completed the placement of 60 million fully paid ordinary shares at an issue price of $0.011 (1.1 cents) together with a 1:2 free attaching option, raising $660,000 before associated costs, the Company advises that it will seek shareholder approval to place an additional 30 million shares on the same terms.

The placement of 60 million shares was heavily oversubscribed.

The placement of an additional 30 million shares will raise $330,000 before costs with funds to be used for the development of the Company’s advanced Manitoba Lithium Project (Thompson Bros Project) (including the current 2017 Winter Drilling Program), the further development of the Company’s existing exploration assets, and otherwise applied to the working capital and administrative costs of the Company.

Mr Avi Kimelman will seek shareholder approval to participate in the placement for up to 20 million shares, subject to shareholder approval.

The Company will despatch the applicable Notice of Meeting and proxy in due course.

For and on behalf of the Board

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Adrien Wing

Company Secretary

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