Nova Minerals Ltd — Capital/Financing Update 2018

Jul 15, 2018

ASX AND MEDIA RELEASE

NOVA MINERALS LIMITED ASX: NVA FSE: QM3

16 July 2018

NOVA COMPLETES RIGHTS ISSUE – SHORTFALL NOTIFICATION

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

P: +61 3 9614 0600

F: +61 3 9614 0550

• W: www.novaminerals.com.au

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The Directors of Nova Minerals Limited ( Nova or Company ) (ASX: NVA, FSE: QM3) are pleased to announce thats its Rights Issue has closed. A total of 15,344,975 New Shares and 7,672,450 free attaching New Options have been subscribed for under the Entitlement Offer, raising approximately $478,918. The results of the Rights Issue are as follows:

ising approximately $478,918. The results of	the Rights Issu
Total shares offered	46,859,924
Total options offered	23,429,962
Entitlement shares accepted	12,536,733
Shortfall shares accepted	2,808,242
Total NVA to be allotted	15,344,975
Total NVAO to be allotted	7,672,450
Remaining shares available under shortfall	31,514,949
Remaining options under shortfall	15,757,512

The Nova Board may look to place some or all of any Rights Issue shortfall with sophisticated and institutional investors within three months of the Rights Issue closing date.

Directors Avi Kimelman, Louie Simens and Dennis Fry have taken up their full rights, which are additional to the $500,000 in commitments received by the directors in the placement announced 14 June 2018, which is subject to shareholder approval.

The Board of Nova is pleased with the take-up of the rights considering the fact that a large number of our top 20 shareholders being based in the USA and the UK were unable to participate in this rights issue.

The board wishes to thank all shareholders for their participation and ongoing support.

Holding statements will be dispatched and the New Shares and New Options will be issued to shareholders on Friday 20 July 2018, as per the timetable in the Offer Document.

The Company is about to embark on a very active phase of exploration and development including a significant drill program at the Estelle District Scale Gold Copper Project, The drill program has been designed to enable the Company to define a maiden JORC Resource currently targeted for end-2018 and fast track project development and corporate work of its Thompson Brothers Lithium Project.

NVA Managing Director, Mr. Avi Kimelman said:

“We undertook the Rights Issue to give existing shareholders the opportunity to buy shares on the same terms as the recent $1.73 million placement to institutions and sophisticated investors.

“The additional funds raised put Nova Minerals in a very strong financial position with approximate $4m in cash to rapidly advance corporate and project development across our core Thompson Brothers Lithium and Estelle Gold Copper projects.”

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 in the process of defining a Maiden resource estimation, the projects current exploration target is 9.0Mt to 13.0Mt with a grade range of between 1.30 % Li2O and 1.70% Li2O. 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 own 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 their 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.

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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 plans 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