Nova Minerals Ltd — Capital/Financing Update 2018

Apr 11, 2018

==> picture [55 x 57] intentionally omitted <==

==> picture [55 x 57] intentionally omitted <==

==> picture [54 x 57] intentionally omitted <==

==> picture [55 x 57] intentionally omitted <==

==> picture [55 x 57] intentionally omitted <==

==> picture [55 x 57] intentionally omitted <==

==> picture [54 x 57] intentionally omitted <==

==> picture [55 x 57] intentionally omitted <==

==> picture [55 x 57] intentionally omitted <==

==> picture [5 x 169] intentionally omitted <==

==> picture [54 x 57] intentionally omitted <==

==> picture [55 x 57] intentionally omitted <==

==> picture [54 x 57] intentionally omitted <==

==> picture [55 x 57] intentionally omitted <==

==> picture [55 x 57] intentionally omitted <==

==> picture [55 x 57] intentionally omitted <==

==> picture [54 x 57] intentionally omitted <==

==> picture [55 x 57] intentionally omitted <==

ASX AND MEDIA RELEASE

==> picture [54 x 57] intentionally omitted <==

==> picture [55 x 57] intentionally omitted <==

==> picture [55 x 57] intentionally omitted <==

==> picture [55 x 57] intentionally omitted <==

==> picture [54 x 57] intentionally omitted <==

==> picture [55 x 57] intentionally omitted <==

==> picture [55 x 57] intentionally omitted <==

==> picture [55 x 57] intentionally omitted <==

==> picture [54 x 57] intentionally omitted <==

==> picture [55 x 57] intentionally omitted <==

==> picture [55 x 57] intentionally omitted <==

1 2[th] April 20 1 8

NOVA MINERALS LIMITED ASX: NVA FRANKFURT: QM3

LITHIUM EXPLORATION TARGET AND LANDHOLDING INCREASED BY 186%

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

The di r ectors of N o va Minerals Limited ( Nova or Company ) (ASX: N VA) are ple a sed to ann o unce an ini t ial explorati o n target, in d icative infra s tructure co n cept and a strategic increase i n the land p o sition of the Thompson B rothers Lit h ium Project by 186% ( Figure 2).

Exploration target

==> picture [49 x 70] intentionally omitted <==

The re c ent round of drilling has provided enough inform a tion to det e rmine a rob u st explor a tion target w ithin and ar o und the ar e a drilled so f ar. Drill coll a rs, assay inform a tion and lithological log g ing data for drill holes T B L-001 thro u gh to TBL- 0 24 were l o aded into Micromine for interpretation in a three d imensional space. Cro s s sectio n s (1000mN t o 1900mN) were create d on 100 m e tre centres a long strike for the len g th of the dr i lled body to define the m ineralised p e gmatite zo n es. The contin u ity and con s istency of t h e mineralis e d pegmatite s was able t o be easily establi s hed betwe e n sections a long strike a nd served t o demonstra t e the likely contin u ance of the mineralised body in sev e ral areas. T h is also sho w ed where h oles could h ave been d r illed deeper and will be u sed in the n ext phase o f exploration and definiti o n drilling. O n each section, the interpretation wa s projected t o surface a n d to a dept h of 100 met e rs below th e lowest pe g matite/spod u mene inter s ection encou n tered in the lithological l o gs. The ar e a for each s e ction was c alculated a n d used t o determine a represent a tive volume for the imm e diate area a round each sectio n using the f o llowing standard sectional area for m ula:

Board of Directors: Mr Avi Kimelman Managin g Director / C E O Mr Louie Simens

Non-Executive Direct o

==> picture [38 x 66] intentionally omitted <==

----- Start of picture text -----

r
r
----- End of picture text -----

Mr Dennis Fry Non-Executive Direct o Mr Olaf Frederickson Non-Executive Direct o

Company Secretary: Mr Adrien Wing

Volum e = distance between se c tions x ½ (section 1 + s e ction 2)

Sectio n al areas were compiled, totaled and converted t o tonnage u s ing a densit y factor o f 2.67 as d e rived mearuments taken by Dahrou g e Geologic a l durng the 2 017 drill ca m piagn. These results w e re then cro s s checked b y comparin g three dimen s ional model l ed volumes against the s ectional vo l umes as a v alidation step. Grade ranges wer e establishe d from assay s received t o date from h oles previo u sly report e d from the r e cent phase of drilling.

Contact:

Nova Mi n erals Limited Level 17 , 500 Collins S treet Melbour n e, VIC, 3000

The m a jority of the exploration t arget has b e en establis h ed from drilling to date a s well as projected e x tensions as indicated b y the drilling. Possible d e pth extensi o ns were li m ited to -25 0 mRL based on minerali s ed historic intercepts re a ching that depth.

P: +61 3 9614 0600 F: +61 3 9614 0550

W: ww w .novamineral s .com.au

==> picture [140 x 80] intentionally omitted <==

==> picture [7 x 496] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [54 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [54 x 63] intentionally omitted <==

==> picture [34 x 100] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [54 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [54 x 63] intentionally omitted <==

==> picture [34 x 100] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [54 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [54 x 63] intentionally omitted <==

==> picture [55 x 62] intentionally omitted <==

==> picture [54 x 62] intentionally omitted <==

==> picture [55 x 62] intentionally omitted <==

==> picture [55 x 62] intentionally omitted <==

==> picture [55 x 62] intentionally omitted <==

==> picture [54 x 62] intentionally omitted <==

==> picture [34 x 100] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [54 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [54 x 63] intentionally omitted <==

==> picture [34 x 100] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [54 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [54 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [54 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [54 x 63] intentionally omitted <==

==> picture [34 x 100] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [54 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [55 x 63] intentionally omitted <==

==> picture [54 x 63] intentionally omitted <==

Figure 1. Location Plan of Exploration Targets

For the sou t hern sectio n (area drille d to date) of the Thomp s on Brothers project, the Company h a s determined an exploration target of 9.0Mt to 13.0Mt with a grade range of between 1.30 % Li2O and 1.70% Li2O , refer to Fi g ure 1. The p otential qu a ntity and gr a de is conce p tual in natu r e and there has been insufficient explor a tion to esti m ate a miner a l resource. It is uncerta i n if further e xploration w ill result in the estimation of a m i neral resou r ce.

The explor a tion target r e presents le s s than 2% o f the expan d ed teneme n t area. The company will continue wi t h its develo p ment of a m aiden JOR C 2012 com p liant resour c e for the ar e as covered by drilling and is planning a dditional exploration to f irm up exte n sional targets during th e next field s e ason as well as exp a nding its e x ploration efforts across t he wider te n ement holdi n gs.

Nova Minerals Ltd. L e vel 17, 500 Collins St r eet, Melbourne, VIC, 3 000. Phone: +61 3 96 1 4 0600 Fax: + 61 3 9 6 14 0550

Landholding increase

The 186% increase of landholding (Figure 2) remains relatively unexplored with the main historic activity being focused at the Thompson Brothers Pegmatite and the Sherritt Gordon Pegmatite. There exist a number of pegmatite bodies in and around Crowduck Bay that have been noted in multiple historic references. No recent systematic exploration campaigns have been conducted with a focus on identifying lithium bearing pegmatite bodies. Nova plans an aggressive spring and summer field camping to followup on all these historic pegmatite bodies with the goal to discover new pegmatites in the process.

The orignal claim block totaled 1789 ha with the new block adding an additional 3440 ha. This brings the total landholding in the region to 5229 ha.

Target generation activities have commenced and the Company looks forward to updating the market as new targets come to light.

In order for Nova to fast track the process, the new claims (Table 1 - Tenement Schedule) are held under a Bare trust deed with local staking firm Hickerman Prospecting Services and will be transferred on title to Nova as soon as practical.

**Disposition/Lease # **	Dispostion Name	Units
MB13493	TBL-001	16
MB13494	TBL-002	16
MB13495	TBL-003	5
MB13496	TBL-004	10
MB13497	TBL-005	5
MB13498	TBL-006	15
MB13499	TBL-007	12
MB13500	TBL-008	6
MB13501	TBL-009	13
MB13502	TBL-010	11
MB13503	TBL-011	5
MB13504	TBL-012	16
MB13505	TBL-013	15
MB13506	TBL-014	8
MB13507	TBL-015	16
MB13508	TBL-016	14
MB13509	TBL-017	16
MB13510	TBL-018	16
Total		215

Table 1 - Tenement Schedule

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

==> picture [5 x 657] intentionally omitted <==

==> picture [20 x 165] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [54 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [54 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [54 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [54 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [54 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [54 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [20 x 165] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [54 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [54 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [54 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [54 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [20 x 165] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [54 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [54 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [54 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [54 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [54 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [54 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [20 x 165] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [54 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [54 x 67] intentionally omitted <==

==> picture [55 x 67] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [54 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

==> picture [54 x 66] intentionally omitted <==

==> picture [55 x 66] intentionally omitted <==

Figure 2: Expanded Tenement Area

Nova Minerals Ltd. L e vel 17, 500 Collins St r eet, Melbourne, VIC, 3 000. Phone: +61 3 96 1 4 0600 Fax: + 61 3 9 6 14 0550

Infrastructure Concept (Slurry pipeline option to highway or rail)

The Comp a ny has beg u n prelimina r y work on p o ssible infra s tructure sol u tions to bri n g the proje c t into production i n the shortest timefram e with lowest capital outl a y. Nova ha v e considere d costs for t h e transport of spodumen e concentrat e from the c e ntral part of the Thompson Brothers Lithium proj e ct over a distance o f about 30- 4 0km via a slurry pipelin e to Highwa y 39 or Cana d ian Nation a l rail. The p o tential route of the slurry pipeline is shown on Figure 3 . As the proj e ct develops, this will be considered i n greater det a il as part of a series of f e asibility wo r ks.

==> picture [24 x 141] intentionally omitted <==

==> picture [35 x 113] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [54 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [54 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [54 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [54 x 71] intentionally omitted <==

==> picture [35 x 112] intentionally omitted <==

==> picture [24 x 140] intentionally omitted <==

==> picture [55 x 70] intentionally omitted <==

==> picture [55 x 70] intentionally omitted <==

==> picture [54 x 70] intentionally omitted <==

==> picture [55 x 70] intentionally omitted <==

==> picture [55 x 70] intentionally omitted <==

==> picture [55 x 70] intentionally omitted <==

==> picture [54 x 70] intentionally omitted <==

==> picture [55 x 70] intentionally omitted <==

==> picture [55 x 70] intentionally omitted <==

==> picture [54 x 70] intentionally omitted <==

==> picture [55 x 70] intentionally omitted <==

==> picture [55 x 70] intentionally omitted <==

==> picture [55 x 70] intentionally omitted <==

==> picture [54 x 70] intentionally omitted <==

==> picture [35 x 113] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [54 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [54 x 71] intentionally omitted <==

==> picture [24 x 141] intentionally omitted <==

==> picture [35 x 113] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [54 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [54 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [54 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [54 x 71] intentionally omitted <==

==> picture [24 x 141] intentionally omitted <==

==> picture [35 x 113] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [54 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [55 x 71] intentionally omitted <==

==> picture [54 x 71] intentionally omitted <==

Figure 3: Slurry pipeline option to highway or rail

Nova Minerals Ltd. L e vel 17, 500 Collins St r eet, Melbourne, VIC, 3 000. Phone: +61 3 96 1 4 0600 Fax: + 61 3 9 6 14 0550

NVA Managing Director, Mr Avi Kimelman said:

“We are pleased with the initial exploration target on less than 2% of our expanded project area. This exploration target does not take into account the Sherritt-Gordon zone or any of the remaining original Thompson Brothers tenements to the north and demonstrates the potential scale of the now expanded project.”

“The further staking of additional ground confirms Nova’s intent to expand and fast track the development across the project. With demand for lithium increasing, we are very pleased to have secured a large landholding covering an under explored pegmatite rich region close to existing infrastructure adjoining our current project. Exploration on the expanded landholding will be undertaken in conjunction with ongoing work at the Thompson Brothers Lithium Project where the Company is on schedule for our maiden resource estimation and first production sample of spodumene concentrate to supply end users.”

“In line with our strategy of fast track development and staying two steps ahead, we have begun planning our infrastructure solution in conjunction with resource definition, metallurgical studies and further field works planned to move rapidly on feasibility to progress the project to potential production.”

Competent Person Statement

The information in this announcement that relates to Exploration Results is based on information compiled by Mr Olaf Frederickson. Mr Frederickson is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”).

Forward Looking Statements

Certain statements in this document are or maybe “forward-looking statements” and represent Nova’s intentions, projections, expectations or beliefs concerning among other things, future exploration activities. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Nova, and which may cause Nova’s actual performance in future periods to differ materially from any express or implied estimates or projections. Nothing in this document is a promise or representation as to the future. Statements or assumptions in this document as to future matters may prove to be incorrect and differences may be material. Nova does not make any representation or warranty as to the accuracy of such statements or assumptions.

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

About Nova Minerals Limited (ASX: NVA):

Thompson Bros. Lithium Project

Nova Minerals Limited own the rights to earn up to 80% ownership interest of the Thompson Bros. Lithium Project in Canada 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 and first demonstration sample of spodumene concentrate; this allows a fast track approach to take the project to potential production.

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 with potential high tonnage, gold, copper, silver project, 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.

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