Nova Minerals Ltd — Capital/Financing Update 2018

Mar 22, 2018

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ASX AND MEDIA RELEASE

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NOVA MINERALS LIMITED 2 3rd March 2018 ASX: NVA

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 Managin g Director / C h airman

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Mr Louie Simens

Non-Executive Direct o

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

Company Secretary: Mr Adrien Wing

NOVA APPOINTS STRATEGIC ADVISOR

The direc t ors of Nova Minerals Li m ited ( Nova or Company ) (ASX:NV A ) are pleas e d to announce that it has e ngaged LSI Advisors Li m ited ( LSIA ) as its Strat e gic Advisor t o assist in r a pidly adva n cing the Th o mpson Brothers Lithiu m project.

Hong Ko n g and New Y ork based L SIA’s management has over 50 years of collecti v e experience as a grou p in finance, c ommoditie s and adviso r y. LSIA has successfull y worked w i th resource companies b y connecting managem e nt to reput a ble potential strategic p artners in A sia. Over the past couple of years L S IA has pla c ed a specia l emphasis of working w ith battery m etals inclu d ing lithium. L SIA has es t ablished a c lear successf u l and track r e cord for ad v ising lithiu m producers a nd developers for off-take, joint-vent u re partners h ips and inv e stment in A s ia.

LSIA has j oined Nova as part of it s Thompson Brothers lit h ium project d evelopmen t strategy. L SIA will fac i litate meeti n gs and a br o ader work p rogram aim e d at securi n g value-adding commer c ial agreem e nts with rel e vant counter-parties in N orth Ameri c a and Asia. The objecti v e is to secu r e binding of f -take agree m ents, part n ership agreeme n ts, investm e nt agreeme n ts and/or joint venture a greements w ith industry leaders in the Asian a n d North A m erican lithiu m battery se c tor.

NVA Managing Director, Mr. Avi Kimelman said:

“ We are v ery pleased to be worki n g with LSIA as it is one o f the few s p ecialist advi s ors globally w ith operatin g and advisory experience in both N o rth America and Asia, most particular l y in the batt e ry material s area. LSIA ’ s experienc e in securin g off-take an d partnersh i p investme n t agreemen t s, as well a s direct inve s tment is we l l matched w ith Nova’s n e eds to rapi d ly progress t he Thomps o n Brothers L ithium Proj e ct.”

“Working with LSIA c o incides well with definin g our initial r e source esti m ate and fir s t demonstr a tion sampl e of spodum e ne concent r ate timeline s as this allows us to constantl y think two s t eps ahead to in the proj e cts develo p ment. We’re hopeful LS IA ’s work may assist us id e ntify an op p ortunity that could help u s fast-track the Thompson Brothers lithium proje c t to product i on.”

LSIA Managing Director, Mr. Philip Ho said:

Contact:

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

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

W: ww w .novamineral s .com.au

“We are e xtremely pl e ased to wor k with Nova Minerals. W e believe th e Company’ s rapidly a d vancing Th o mpson Brot h ers lithium p roject and s trong mana g ement tea m will attract significant inte r ests from p o tential strat e gic partner s . By leveraging our relationships in the battery minerals supply ch a in; we look to assist No v a in securi n g accretive and mutuall y beneficial p artnerships expeditious ly . We are e x cited to wo r k with Nova and look fo r ward to a long term partnership with the Compa n y.”

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Asia is absolutely key to development of the global lithium industry. Most new battery facilities under construction are located in Asia and are considered as a critical pathway for Nova’s development strategy and future success to have strong relationships with Asian lithium end-users and other industry groups.

Appointing LSIA as our Strategic Advisor is another key step of the Company’s development strategy.

The initial remuneration structure for the engagement is the issue of 1.5 million NVAO listed options and one-off retainer fee payment for all expenses incurred by LSIA.

The milestone remuneration structure for the engagement is weighted toward equity incentives at an exercise price equal to 150% of the average 20-day volume weighted average price of the share on ASX immediately prior to the relevant Milestone. The Company may issue up to 30 million options over four tranches, based on achievement of performance milestones, and a one-off nominal fee cash retainer per milestone to LSIA.

About LSI Advisors Limited:

LSIA is part of an advisory & investment group with strategic focus on energy, mining and other growth-oriented sectors. LSIA's management has over 50 years of collective experience as a group. LSIA seeks to add value for its client companies by working closely with management to meet potential strategic partners primarily out of Asia including off-take, strategic partnerships and investment.

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 from Ashburton Ventures Inc. by financing their commitments relating to their Option Agreement with Strider Resources Ltd.

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