Nova Minerals Ltd — Capital/Financing Update 2018

Jul 29, 2018

ASX AND MEDIA RELEASE

NOVA MINERALS LIMITED ASX: NVA FSE: QM3

Nova Minerals Limited is an Australian domiciled mineral resources exploration and development company with North American focus.

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Board of Directors: Mr Avi Kimelman Managing Director / CEO

Mr Louie Simens Non-Executive Director

Mr Dennis Fry Non-Executive Director

Mr Olaf Frederickson Non-Executive Director

Company Secretary: Mr Adrien Wing

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Contact:

Nova Minerals Limited Level 17, 500 Collins Street Melbourne, VIC, 3000

30 July, 2018

NEWMONT ELECTS TO PROCEED WITH OFFICER HILL JOINT VENTURE

The directors of Nova Minerals Limited ( Nova or Company ) (ASX: NVA, FSE: QM3) are pleased to advise that Newmont Tanami Pty Ltd ( Newmont ) (a wholly owned subsidiary of Newmont Mining Corporation) has elected to proceed with the joint venture on the Officer Hill Gold Project

NVA’s Officer Hill Project, is highly prospective for gold. The prospect is thought to host steeply plunging shoots, such as those at the Tanami Gold Mine and the apparent fold closure to the east offers the possibility of the discovery of Callie-style mineralisation at depth. The total area covered by the lease is 206.08km[2] . The Callie gold mine, which is, located 34km northeast of Officer Hill had, at the end of 2015, 5.6 million ounces of gold resource and produces 419,000 ounces gold per year.

Newmont has successfully completed its sole funding commitments pursuant to the terms of the Officer Hills Joint Venture Agreement. Nova retains a 30% working interest whilst Newmont to retain a 70% interest. Nova and Newmont will now form an operating committee to progress the project. The project is managed by Newmont Tanami Pty Ltd.

NVA Managing Director, Mr. Avi Kimelman said:

“The decision by Newmont to proceed with the Joint venture agreement is a ringing endorsement of the quality of the Officer Hill Gold Project and its exploration upside in the Tanami region of Northern Territory, particularly with the projects close proximity to the 400Koz per year Tanami Gold Mine and located within the ~13 million ounce Tanami endowment.”

“Newmont’s commitment to the joint venture brings valuable technical expertise and insights to the Project.”

Nova will separately release the proposed 2018/19 Exploration programme for the Officer Hill Gold Project in due course.

P: +61 3 9614 0600

F: +61 3 9614 0550

W: www.novaminerals.com.au

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About Nova Minerals Limited (ASX: NVA, FSE: QM3):

Thompson Bros. Lithium Project

Nova Minerals Limited own the rights 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 project is well advanced and with a maiden Inferred Resource of 6.3 Mt @ 1.38% containing 86,940 tonnes of Li2O with an additional exploration target of 3 to 7Mt @ between 1.3 and 1.5% Li2O in the immediate area of the resource. Initial metallurgical test work demonstrates the project can produce a concentrate material of 6.37% Li2O using standard metallurgical laboratory test techniques.

Alaskan Project Portfolio

Nova Minerals Limited owns the rights to earn up to 85% ownership interest of the Alaskan Project Portfolio from AK Minerals Pty Ltd. by financing their commitments relating to the JV Agreement.

The Alaskan project portfolio range from more advanced exploration projects with ore grade drill intersections to brownfield tenements. The most advanced projects are the Estelle gold project, a district scale project with a 1.1 – 2.3 million ounce gold exploration target, the Chip-Loy nickel, cobalt, copper project, the Bowser creek silver, zinc, lead project which the US government has spent in excess of $7m on this project historically and the Windy Fork REE project.

Forward Looking Statements: Statements regarding plans with respect to the Company’s mineral properties are forward looking statements. There can be no assurance that the Company’s plan for development of its mineral properties will proceed as expected. There can be no assurance that the Company will be able to confirm the presence of mineral deposits, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of the Company’s mineral properties

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