Nova Minerals Ltd — Capital/Financing Update 2018

Jun 20, 2018

==> picture [136 x 82] intentionally omitted <==

21 June 2018

Dear Shareholder

NON-RENOUNCEABLE RIGHTS ISSUE OF SHARES NOTICE TO SHAREHOLDERS

The Directors are pleased to advise that the Company is undertaking a non-renounceable rights issue of approximately 46,860,527 fully paid ordinary shares ( New Shares) together with a one for two free attaching listed option, ASX:NVAO, with an exercise price of 3.25 cents and expiring on 31 August 2020, for an aggregate 23,430,263 options ( New Options ) to raise, if fully subscribed, an aggregate $1,522,967 ( Rights Issue ). The offer will be made to eligible shareholders on a 1 for 16 basis.

Funds raised from the Rights Issue will be used to accelerate project development across the Company’s Thompson Brothers Lithium Project and district scale Estelle Gold Copper Project and for general working capital and administration purposes.

The Rights Issue will be made to holders of ordinary shares in the Company with a registered address in Australia or New Zealand (Eligible Shareholders) as at 26 June 2018 ( Record Date ).

The proposed timetable for the Rights Issue is set out below:

Event	Date
Announce Rights Issue	14 June 2018
Lodgement of Offer Document at ASX, Appendix 3B and s708AA notice	21 June 2018
Notices to Shareholders and Optionholders	21 June 2018
Existing Shares quoted on an "ex" basis	25 June 2018
Record Date	26 June 2018
Rights Issue Offer Document and Entitlement and Acceptance Form sent to Eligible Shareholders	29 June 2018
Closing Date (5.00pm AEST)	11 July 2018
Shares quoted on a deferred settlement basis	12 July 2018
Company to notify ASX of under subscriptions (if any)	16 July 2018
Anticipated date for the issue of the New Shares	18 July 2018
Deferred settlement trading ends	18 July 2018
Normal trading (on a T+2 basis) commences	19 July 2018

The above dates are indicative only. The Company reserves the right to extend the Closing Date or to withdraw the offer at any time without prior notice, in which case all application monies will be refunded (without interest) as soon as practicable.

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

The Rights Issue is not underwritten.

Further details regarding the Rights Issue are set out in the Rights Issue Offer Document which the Company has lodged at ASX and is available at www.asx.com.au, to be dispatched to Eligible Shareholders in accordance with the above timetable.

Yours sincerely

==> picture [100 x 59] intentionally omitted <==

Adrien Wing Company Secretary

2