Nova Minerals Ltd — Capital/Financing Update 2018

Jan 21, 2018

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NOVA MINERALS LIMITED

(ASX: NVA)

ASX and Media Release

22 January 2018

SIGNIFICANT EXPLORATION PROGRAM COMMENCING AT THOMPSON BROTHERS LITHIUM PROJECT

• Drilling contractor mobilising to site.

• All requisite approvals for drilling have now been secured.

• Preliminary 5,000m drill programme will target extensions to known pegmatite and resource definition.

The directors of Nova Minerals Limited ( Nova or Company ) (ASX: NVA) are pleased to announce the commencement of an extensive 5,000m exploration program at the Thompson Brothers Lithium Project. The Company has received a drill and work permit from the Office of Manitoba Sustainable Development and is mobilising a drill to the Thompson Brothers Lithium Project where drilling is imminent. This phase of drilling 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. All the contemplated activities have already been permitted, budgeted and approved for commencement.

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Drilling will follow up previous, highly encouraging drill results reported at the Thompson Brothers Lithium Project by Nova minerals, and is designed to confirm the continuity and consistency of high-

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

grade mineralisation within the project area. Previous intersections include (ASX Announcement 5 September, 2017);

• Hole TBL003 from 160.42 to 181.5metres (21.08 metre interval) of 1.74% Li2O

• Hole TBL004 from 33.48 to 54.63 metres (21.15 metre interval) of 1.55% Li2O

• Hole TBL005 from 139.59 to 146.1 metres (6.51 metre interval) of 1.28% Li2O

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

Nova CEO, Avi Kimelman commented: “We are pleased to commence this program which will allow us to prove up an initial resource in the NI 43-101 category and understand any potential for immediate extension of the mineralisation as well as identifying the potential of apparent sub parallel pegmatite bodies in the local area for resource expansion. The program is in line with our fast track development strategy to unlocking the value in the project area.”

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. 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