Nova Minerals Ltd — Capital/Financing Update 2018

Feb 6, 2018

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ASX AND MEDIA RELEASE

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NOVA MINERALS LIMITED 7 February 2 018 ASX: NVA BASE AND PRECIOUS METALS EXPERT JOINS THE NOVA TEAM

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

Ordinary Shares on issue: NVA: 711,891,788

Listed Options: NVAO: 169,490,272

Unlisted Options: NVAAA: 42,000,000 NVAAC: 7,500,000

Board of Directors: Mr Avi Kimelman Managin g Director / C E O Mr Louie Simens Non-Executive Direct o r Mr Dennis Fry Non-Executive Direct o r Mr Olaf Frederickson Non-Executive Direct o r

Company Secretary: Mr Adrien Wing

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

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Highlights

• Nova appoints consultant Mr Thomas K. Bundtzen (P. Geo., BS, MS), an Alaskan geologist specialist

• Thompson Brothers Lithium Drilling Update

T he directors of Nova Mi n erals Limite d ( Nova or Company ) ( A SX: NVA) a re pleased t o announce th e company h a s appointe d Mr Thoma s K. Bundtz e n P.Geo, B S , MS, an Al a skan based expert geologist, a s a consulta n t to further s trengthen t h e technical team to accelerate on ground exploration acti v ities on the A laskan pro j ect portfolio.

M r. Thomas (Tom) K. Bu n dtzen serv e s as a Geol o gical Cons u ltant throug h his private c o nsultancy P acific Rim G eological C o nsulting, In c . Mr. Bundt z en has ext e nsive experience i n volving geo l ogy of plati n um, gold and base met a l deposits. H e has cons u lted/worked for 20 private an d public clie n ts and published appro x imately 160 papers and chapters on A laskan, Canadian, and R ussian Far E ast Geology in Journal s , State and federal publications, a nd books. H e is a Certi f ied Professional Geologist (CPG) wi t h the Ameri c an I n stitute of Pr o fessional G eologists a n d holds Ala s ka Busines s License G e ological an d T echnical Se r vices. Mr. Bundtzen rec e ived his M. S . in Econo m ic Geology from Department of Geology a n d Geophysi c s at the University of Al a ska, Fairb a nks in 1981 and his B.S . in G eology from the School o f Mineral Engineering at University o f Alaska F a irbanks in 1 9 73. M r. Bundtzen serves as t h e president of the Alaska Mining Ha l l of Fame F o undation.

Nova CEO, Avi Kimelman commented: “ We ar e pleased and excited to have Mr. B undtzen an d Pacific Ri m Geological Consulting, Inc. to join o u r team with his vast expertise and knowledge of the Nova Alaskan pro j ect portfolio to greatly e n hancing th e v a lue of the D istrict scale Estelle Gol d Copper pro j ect, the Chi p Loy Nickel Cobalt proj e ct and Bowser C reek Silver Z inc project s .”

“ M r. Bundtze n has studie d , mapped and explored the Farewel l Terrane fo r in excess o f 30 y e ars for bot h Business and Govern m ent departments and w e believe tha t by combini n g t h e technical t eam’s kno w ledge and historic disco v eries in the region with M r. Bundtze n ’s experience a n d expertise we can rapi d ly assess and begin to d evelop the o verall pote n tial of the project portfolio.”

T he Chip-Lo y Ni-Co-Cu project contains dissemin a ted to mas s ive sulfides , mainly pyrr h otite and chalcopyrite, that wa s rock chip s a mpled by M r Bundtzen w hereby as s ays returne d up t o 3.30% nic k el, 0.25% c o balt, 2.10% copper, 12. 1 g/t silver, a nd 43.2 per c ent iron (S m ith and Albanes e , 1985) (Bu n dtzen, Rob e rts, and oth e rs, 1982) ( H istorical, N o n-JORC C ompliant – refer to sour c e reference s below). It i s envisaged that Mr Bun d tzen will be able t o assist Nov a in prepara t ion of an ex p loration tar g et for the C h ip-Loy proj e ct similarly t o the potential identified in thes e source ref e rences: (a) US G e ological Sur v ey (USGS) Alaska Resour c e Data File ( A RDF) MG03 2 https: / /mrdata.usgs . gov/ardf/sho w -ardf.php?ar d f_num=MG 0 32 (b) Reco n naissance st r ategic and critical mineral investigations in the McGra t h A-3 and B- 2 Quad r angles, sout h west Alaska http:/ /d ggs.alaska. g ov/webpubs/ u sbm/fr/text/fr _ mcgrath_cri tm in_1987_southworth.pdf (c) The C hip-Loy Fe-N i -Cu deposit, M cGrath A-3 Q uadrangle, c entral Alaska http:/ /d ggs.alaska. g ov/webpubs/ u sbm/un/text/ b undtzen_an d _others_198 5 .pdf

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ALASKAN PROJECT PORTFOLIO

The Ala s kan Projec t s range fro m more adva n ced explor a tion project s with ore gr a de drill inte r sections to brow n field tenem e nts. The m o st advance d projects ar e the Estelle gold projec t , a district s c ale high tonnag e , gold, copp e r, silver pro j ect, the Chi p -Loy nickel , cobalt, cop p er project, t he Bowser c reek silver, z i nc, lead pro j ect which the US gover n ment has s p ent in exce s s of $7m o n this project historic a lly and Win d y Fork REE project.

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Figure 1: Location map of AKM's projects

Alaskan Project portfolio:

Project	Area (km2 )	AKM In terest	Co mmodity Ta rget
Estelle	112.02	100 %	Dis trict-scaleA u, Ag, Cu
Bowser Creek	12.95	100 %	Po lymetallic Ag , Zn, Pb, Cu
Chip Loy / Roberts	27.19	100 %	Ni, Cu, Co, Cu , Ag±Au mas sive sulphid es
WindyF ork	16.83	100 %	RE E (Ce, La,Y )
OzznaC reek	23.31	100 %	Ag , Au, Cu, Pb , Zn, Mo

Table 1: AKM projects, land area and commodity targets

ESTELLE GOLD PROJECT (District-scale Au, Ag, Cu) Highlights (as at the date of this report)

• District-scal e Gold-copp e r porphyry p roject - Ch a sing an ele p hant in ele p hant countr y .

• Project loca t ed on Giant plutonic gol d systems .  High-grade g old occurrences over t h e entire project area; a r o bust gold s y stem.  Historic exp l oration only scratched t h e surface.

• Proposed g a s pipeline passes by pr o perty and n e ar the Belu g a gas pow e r station

• Adjacent to G old mining Inc. 6.3Moz Au, 28.7Moz Ag, 480kt C u Whistler p roject Source: http://www. g oldmining.c o m/_resour c es/reports/ W histler-201 6 -Technical- R eport.pdf a n d in the same asse m blage of ro c ks that host s Northern D ynasty’s giant Pebble c o pper-gold-

Nova Minerals Ltd. Level 17, 500 Col l ins Street, Melbourne, VIC, 3000. Phone: +6 1 3 9614 0600 Fax: + 61 3 9614 0550

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molybdenu m -silver dep o sit (70Moz A u, 3.4b lb M o, 344Moz A g) Source: https://www . northerndynastymineral s .com/pebbl e -project/reserves-resou r ces/

• Multiple wal k up drill tar g ets to be ta r geted to de f ine a resour c e under JORC code.

• Exploration t arget between 1.1 Moz a nd 2.2 Mo z gold on the Oxide pros p ect which represents a small zone of the total p roject area

The Est e lle Gold Pr o ject is com p rised of on e -hundred a n d seventy-t h ree (173) u n patented m i ning claims l o cated on S t ate of Alask a public lan d s. There ar e multiple pr o spects within the projec t area; Oxide ( O xide Ridge, Oxide Vall e y, Oxide No r th and Oxide South); St o ney (Stone y , Tomaha w k, Kid and Tru n dle); Moun t Estelle (Mount Estelle, S hoeshine and Train); a n d Emerald ( RPM and Revelat i on). The Es t elle Gold pr o ject is loca t ed approxi m ately 110 miles northwe s t of Anchor a ge and approxi m ately 112 m iles southe a st of McGr a th; within th e Seward M e ridian and p artially within the Talkeet n a A-6, Tyo n ek D8, and L ime Hills D - 1 USGS 63,360 Quadrangles.

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Figure 2: Estelle project location and prospects

The roc k s in the are a of the Oxi d e prospects are Jurassi c and Creta c eous marin e sedimenta r y rocks that are intruded by t he 65-66 M a granodiori t e of Mount E stelle (Ree d and Nelso n , 1980). Th e granodi o rite at this p rospect has a leucocrati c equigranular phase an d a porphyri t ic phase with potassi u m feldspar p henocrysts up to 10 m m in size (Co m inco American Incorpo r ated, unpu b lished report). A s describe d by Cominco American, chalcopyrit e , pyrrhotite, arsenopyrit e , molybdenite and pyrite o c cur as joint coatings, in v eins, and a s dissemina t ions adjace n t to northw e st-striking minerali z ed joint set s .

The Stoney, Trundl e , Kid and T o mahawk pr o spects are located on the northern s ide of Mt St o ney. These p rospects ar e located on the Yentna trend of Late Cretaceous / early Tertia r y composit e plutons describ e d by Reed a nd Nelson (1980). All ot h er prospec t s are locate d within and adjacent to t he Mount E stelle pluto n (Reed and Elliott, 1970 ) . In the cen t ral part of the pluton, a b iotite-hornblende-

Nova Minerals Ltd. Level 17, 500 Col l ins Street, Melbourne, VIC, 3000. Phone: +6 1 3 9614 0600 Fax: + 61 3 9614 0550

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quartz m onzonite in t rudes Meso z oic marine s edimentar y rocks of th e Kahiltna te r rane. It is d e scribed as a high-grade, pol y metallic vein occurrenc e located ne a r a strong, c ircular mag n etic high p o inting to the pos s ibility of ne a rby porphyr y mineraliza t ion. Native g old occurs w ith chalcop y rite, pyrite, arseno p yrite, and p y rrhotite ass o ciated with s ericite, car b onate and chlorite alter a tion in shee t ed joints, s t ockwork veinlets, and circular struct u res that range from 1 in c h to more t h an 15 feet in diameter (Millhollan d ,1995; Cro w e and othe r s, 1991; Cr o we and Mill h olland, 199 0 ). These structures are in t h e felsic and intermediat e phases of t h e pluton. Gold associat e d with pyrr h otite, chalc o pyrite, pentlan d ite and mol y bdenite als o occurs in u ltramafic ro c ks on the s o uth side of t h e pluton.

Estelle Gold project (Oxide Target) Technical discussion

An Expl o ration Targ e t was defin e d on a ver y small area o f the Estell e gold proje ct Oxide prospect of: Lower end: 57.72 M t using an a verage gra d e of 0.6 g/t A u provides a n explorati o n target of 1.11 Moz Au

Higher end: 121.21 Mt using an average gr a de of 0.6 g/ t Au provide s an explora t ion target o f 2.33 Moz Au

The gra d e of miner a lisation app e ars to incre a se to the s o utheast. Hole SE12-00 4 , the southeasternmost hole drilled, intersected gold mineraliz a tion throughout the maj o rity of the h o le with a hi g hlight intercept of 41.45 m e ters gradin g 1.14 gram s gold per to n ne. An ind u ced polariz a tion survey conduct e d in 2012 r e vealed a c h argeability h igh corresp o nding with the drilled mineralized tr e nd. The highest c hargeabilit y occurs sou t heast of drill hole SE12 - 004 providi n g a vector t o possible hi g hergrade m ineralizatio n to the sout h east and is a priority drill target.

Assay r e sults for co p per, silver, m olybdenu m and other m inerals wer e never ma d e public by p revious explore r s.

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Figure 3: Estelle Project - Oxide prospect exploration target area

There h a s been ins u fficient expl o ration drilli n g to estimat e a Mineral R esource a n d it is uncer t ain if further e xploration w ill result in t h e estimatio n of a Miner a l Resource. The Explor a tion Target w as estimat e d in order t o provide the market wit h an assess m ent of the p o tential scal e of the Est e lle gold project u sing the his t oric Explor a tion Results.

Nova Minerals Ltd. Level 17, 500 Col l ins Street, Melbourne, VIC, 3000. Phone: +6 1 3 9614 0600 Fax: + 61 3 9614 0550

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FAREWELL TERRANE

The Far e well Terra n e is comprised of four p r ojects; Bow s er Creek; Chip-Loy/Ro b erts; Windy Fork; and Oz z na Creek, all centered w ithin a radius of approxi m ately 10 miles. The pro j ects are located betwee n 60 and 80 m iles south e ast of McGr a th and 148 to 160 mile s northeast o f Anchorage; within the Se w ard Meridia n , McGrath A -2, A-3 and B-2 USGS 6 3,360 Quadrangles and wholly withi n the McGrat h Mining Dis t rict.

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Figure 4: Farewell project locations Chip-Loy/Roberts Project (Nickel, Copper, Cobalt, Gold, Silver, PGE’s) Highlights

• Chip-chann e l samples f r om the Chi p -Loy deposi t contain a number of hi s torical disseminated and massiv e Ni, Co, Cu sulfide sam p ling (Smith a nd Albane s e, 1985; Bu n dtzen, Rob e rts, and others, 198 2 )

• Drilling plan n ed to unde r stand the e x tent and ex p and on the known Mas s ive sulphide Ni, Co, Cu minerali s ation

The Chip-Loy/Robe r ts prospect i s comprise d of forty-two (42) unpatented mining claims locat e d on State of Alaska public lands wh o lly within th e McGrath A - 3 Quadrangle. The prospects (Chip-Loy and Roberts) are descri b ed separately, although geophysical data sugge s ts the Rob e rts prospect is part of a belt of similar d e posits that includes the Chip-Loy pr o spect.

Chip-Lo y (Nickel, C o balt, Copper)

The Chip-Loy massi v e sulphide Ni-Cu-Co pr o spect was f irst discovered and stak e d by prosp e ctors Ed Chipp a n d Robert L o y in the ear l y 1960s. Si n ce then nu m erous geol o gists from i n dustry and govern m ent have vi s ited and sa m pled it. It i s located adj a cent to Str a ight Creek, o ne of the h e adwater tributari e s of the Mi d dle Fork of the Kuskok w im River. It c onsists of a n irregular, s teeply dippi n g layer of massive to disse m inated, nic k elian pyrrho t ite accomp a nied by oth e r sulfides in an elongat e , composite, diabase intrusion. T h e diabase, w hich range s from gabbr o to diorite, h as been de s cribed as a pip e in plan vie w or as a di k e. The intru s ion trends i n a northeast direction a n d cuts mid- S ilurian

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Terra C o tta Mountains Sandsto n e, a formati o n of the Dillinger subter r ane, a continental marg i n assemblage of Low e r Paleozoic age and ha s been assign as early T e rtiary age ( B undtzen 1999a).

Chip Lo y /Roberts T e chnical discussion

The Chip-Loy depo s it contains disseminated to massive sulfides, ma i nly pyrrhotit e and chalc o pyrite, with mi n or cubanite and sphalerite, and trac e galena, br a voite, violarite, tetradym i te (Bi2Te2 S ), and undeter m ined Co-Ni-Fe arsenid e s (Herreid, 1 968; Gilber t and Solie, 1 983; Bundt z en and oth e rs, 1985). T his style of d eposit has m any featur e s in common with vario u s aspects o f Canadian d eposits such as Thompson, Raglan, Voi s ey’s Bay a n d most notably the Aust r alian Frase r Range bas e d NovaBollinger discovery b y Sirius Re s ources in 2 0 12.

http://w w w.igo.com. a u/irm/conte n t/nova-proj e ct.aspx?RI D =503 https:// m rdata.usgs. g ov/ardf/show-ardf.php? a rdf_num= M G032

Figure 5 shows the m agnetic an o maly imag e ry overlain w ith other geological and geophysical targets includin g Resistivity / IP and EM C onductors. T he Chip-L o y prospect lies at the co n tact of a m a gnetic high an d magnetic l o w zone adj a cent to a s o utheast-nor t hwest trending fault ext e nding into t h e Roberts prospect. Chip-Loy is al s o located a d jacent to a large highly conductive z one (R25) e xtending in exce s s of 4 km in a southwes t -northeast t r end within t h e project te n ure. A simi l ar high con d uctive zone (R 2 4) is located north of th e Roberts P G E prospec t zone located within a m a gnetic high anomal y .

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Figure 5: magnetic anomaly imagery overlain with other geological targets including Resistivity/IP and EM Conductors

Roberts (Nickel, Co p per, Cobalt, Platinum G r oup Eleme n ts)

The Ro b erts prospe c t is in a diff e rentiated, m afic-ultram a fic sill that c u ts silty lime s tone and s h ale of the Lat e Cambrian t o Early Ord o vician, Lym a n Hills For m ation, the oldest facies o f the Dilling e r subterr a ne (Bundtz e n, Harris, a n d Gilbert, 1 9 97). The sil l is undated, but believe d to be corre l ative with Lat e Triassic fe e ders in the Tatina Rive r Volcanics, a subdivisio n of the Mid d le Devonian to Lower Jurassic Mys t ic subterrane (Bundtzen, Harris, an d Gilbert, 19 9 7; T.K. Bun d tzen and G . M. Laird, written comm u nication,19 9 8). The mi n eralization a t the Robert s prospect i s mainly

Nova Minerals Ltd. Level 17, 500 Col l ins Street, Melbourne, VIC, 3000. Phone: +6 1 3 9614 0600 Fax: + 61 3 9614 0550

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disseminated and network-style sulfides with a notable content of platinum group elements (PGE) in the lower and middle part of the sill.

Windy Fork Project (REE’s)

Highlights

• Cerium enriched REE placer gravels concentrations occur throughout large areas of the project area.

• Systematic surface sampling of the placer deposit was completed by Barker (1991) during 1988.

• Target drilling of REE placer gravels to define a resource under JORC code.

• Bulk test sampling and trial mining planned of REE placer gravels.

The Windy Fork prospect is comprised of twenty-six (26) unpatented mining claims located on State of Alaska public lands wholly within the McGrath A-3 Quadrangle. The Windy Fork Placer occurrence is located at the confluence of the Windy Fork of the Kuskokwim River and two unnamed, north flowing tributaries draining the Windy Fork pluton (Gilbert and others, 1988). Systematic surface sampling of the placer deposit was completed by Barker (1991) during a cooperative strategic mineral assessment of the McGrath quadrangle with the Alaska Division of Geological and Geophysical Surveys.

The Windy Fork prospect is a significant accumulation of REE minerals, ilmenite, zircon, and other heavy minerals liberated from the peralkaline Windy Fork composite pluton and concentrated in a high energy glaciofluvial placer deposit (Solie, 1983; Gilbert and others, 1988; Barker, 1991; Bundtzen, Harris, and Gilbert, 1997). Although the Windy Fork pluton contains riebeckite granite, biotite granite, and pyroxene syenite phases; its average chemical composition is that of peralkaline granite (Solie, 1983). The Windy Fork pluton is radioactive and scintillometer readings taken along traverses across the intrusion range from 650-to-800 cps, about 3 times the average background for granitic rocks. High energy glaciofluvial gravels with significant heavy mineral concentrations have accumulated in an elliptical, one square kilometer area near the confluence of Windy Fork and two second order tributary streams that dissect the Windy Fork pluton (Gilbert and others, 1988). Stream bed and fan deposits contain abundant chevkinite, eudialyte, ilmenite, monazite, tscheffkinite, and zircon and minor to trace allanite, cassiterite, and thorite (Barker, 1991). Natural streaks of black sand rich in magnetite and ilmenite are very common in bedload environments. Monazite and zircon are easily identified in the field.

Bowser Creek Project (Silver-Zinc-Lead)

Highlights

• During a heavy metals investigation of the southern Alaska Range in 1967 a U.S. Geological Survey Team discovered occurrences of lead, zinc and silver of potential economic significance.

• The reported cost of this government project was $7 million, and the Bowser Creek exposures were considered to be the ‘find’ of the summer.

• Multiple walk up drill targets to be targeted to define a resource under JORC code.

The Bowser Creek prospect is comprised of twenty (20) unpatented mining claims located on State of Alaska public lands wholly within the McGrath A-2 Quadrangle. There are three targeted prospects – Bowser Creek Headwaters; Bowser Creek Main and Bowser Creek Northeast, all located along Bowser Creek up to the headwaters.

During a heavy metals investigation of the southern Alaska Range in 1967 a U.S. Geological Survey Team discovered occurrences of lead, zinc and silver of potential economic significance. The Bowser Creek prospects were subsequently discovered during regional geological mapping and mineral investigations conducted in the southern Alaska Range by the U.S. Geological Survey and published in Reed and Elliott (1968, C 559 and 596) and Reed and Lanphere (1972). The reported cost of this government project was $7 million, and the Bowser Creek exposures were considered to be the ‘find” of the summer.

The Bowser Creek prospects consists of disseminated to massive, sulfide mineralization in discrete, northwest trending, steeply dipping, quartz-carbonate veins and vein breccias cutting quartz porphyry

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

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of the Bowser Creek composite pluton. The quartz porphyry phase, which has been radiometrically, dated 60.4 Ma; it intrudes the Early to mid-Paleozoic Dillinger subterrane (Bundtzen and others, 1988; Bundtzen, Harris, and Gilbert, 1997). A prospect map has been published by Bundtzen and others (1988). Sulfide minerals include massive sphalerite and pyrrhotite, with lesser amounts of galena, chalcopyrite, and arsenopyrite. Pyrrhotite and arsenopyrite clearly crosscut previously deposited galena, sphalerite, and pyrite.

Ozzna Creek Project (Gold, Silver, Zinc, Copper, Lead)

Highlights

• The Ozzna creek prospect consists of base metal sulfide veins and replacement deposits within an extensive quartz-sericite-pyrite halo rimming a 450 meter wide, rugged, quartz monzonite breccia pipe, which forms the core of a distinctive, precipitous, 7,205-foot –high (2,197 m) peak.

• Historic data to be reviewed

• Drill testing to unlock a new base metals province.

The Ozzna Creek Project is comprised of thirty-six (36) unpatented mining claims located on State of Alaska public lands wholly within the McGrath B-2 Quadrangle. There are several prospects within the project area whereby they form part of a widespread polymetallic mineral belt, the Farewell Mineral belt and were one of several in a block of claims, known collectively as the BMP project, prospected by International Tower Hill Mines, Ltd., (2008).

The Ozzna Creek prospect is located on a west-flowing tributary of the Windy Fork of the Kuskokwim River. It consists of base metal sulfide veins and replacement deposits in an extensive quartz-sericitepyrite halo rimming a 450-meter-wide, quartz monzonite breccia pipe. The pipe forms the core of a distinctive, precipitous, 7,205-foot -high peak. A biotite separate from the quartz monzonite pipe gave a K-Ar age of 58 Ma. (Solie and others, 1991). A pronounced magnetic high rims the edge of the breccia pipe. (The magnetic anomaly that rims the quartz monzonite breccia pipe is similar to geophysical features found in porphyry copper systems throughout the North American Cordillera.)

Estimates in this report are historical estimates and are not reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the historical estimates as mineral resources and/or reserves in accordance with the JORC Code. It is uncertain that following evaluation and/or further exploration work that the historical estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code. For further information please refer to ASX announcements dated 20 November 2017, 23 November 2017 and 18 December 2017.

Thompson Brothers Lithium update

The board is also pleased to update that drilling is rapidly progressing at the Thompson Brothers lithium project in line with the Company’s objective; with this phase of drilling Nova Minerals will target extensions to the known pegmatite, identification and preliminary definition of nearby sub-parallel pegmatites outcropping to the northwest, and infill drilling for resource definition. The program is in line with our fast track development strategy to unlocking the value in the project area and an update will be provided on the work program in due course.

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.

The Thompson Bros. Lithium Project, located in Manitoba, Canada contains a historical (NON-JORC COMPLIANT) resource estimate of 4,305,000 tonnes of 1.3% Li2O, open at depth and along strike.

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

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These estimates are historical estimates and are not reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the historical estimates as mineral resources and/or reserves in accordance with the JORC Code. It is uncertain that following evaluation and/or further exploration work that the historical estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code.

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