Nova Minerals Ltd — Capital/Financing Update 2019

Dec 29, 2019

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NOVA MINERALS LIMITED ASX: NVA FSE: QM3

Nova Minerals Limited (ASX:NVA FSE:QM3) is a minerals explorer and developer focused on gold and lithium projects in North America.

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Board of Directors:

Mr Avi Kimelman Managing Director / CEO

Mr Louie Simens

Executive Director

Mr Christopher Gerteisen Non-Executive Director General Manager Estelle / North America

30 December, 2019

Nova Demonstrates Exceptional Gold Leach Recoveries Averaging 76% at the Korbel Deposit

Highlights:

• Exceptional gold leach recoveries averaging 76% at the Korbel Deposit

• • Established 2.5Moz inferred gold resource at Korbel Blocks A and B (one of fifteen known occurrences)

• Drill holes layouts completed with the view of increasing the resource and upgrading the confidence level to Measured or Indicated at Korbel Blocks A and B

• The focus of exploration will be on Korbel Blocks C and D, the RPM prospect and early stage exploration at Shoeshine

• Snow Road and Camp procurement underway

• Drill contract to be awarded over the coming weeks

The directors of Nova Minerals Limited ( Nova or Company ) ( ASX: NVA, FSE: QM3 ) are pleased to announce exceptional gold leach recoveries averaging 76% at the Korbel Gold Deposit. All initial metallurgical test-work results are consistent with Nova’s expectation that supports a future low strip, bulk mining, heap leach mining operation.

Mr Avi Geller

Non-Executive Director

Management:

Mr Dale Schultz

Technical lead / Chief Geologist

Mr Brian Youngs Head of Exploration and Logistics

Company Secretary: Ian Pamensky

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Contact:

Nova Minerals Limited Level 17, 500 Collins Street Melbourne, VIC, 3000

P: +61 3 9537 1238 F: +61 3 9614 0550

W: www.novaminerals.com.au E: info@novaminerals.com.au

Nova has now established priority drill targets (ASX announcement: 9 December, 2019) with the goal to increase both size and confidence of the current 2.5 Moz Inferred Gold Resource (ASX announcement: 11 September, 2019) contained within Blocks A and B. Nova has also defined outside targets in Korbel Blocks C, D and the RPM prospect. These preliminary metallurgical test-work results are also a further endorsement of the quality of the mineralization hosted at Korbel, and are a very positive factor for future development of this project into an economic mining operation.

NVA Managing Director, Mr. Avi Kimelman said:

“We are pleased with these initial revovery results as they validate the potential to realise high rates of gold recovery from a low strip, bulk mining, heap leach operation at the Korbel prospoect. Moreover, the 2020 drill program shows great potential to significantly increase our 2.5Moz Inferred Gold resource at Korbel (ASX announcement: 9 December, 2019) both in size and confidence while maintaining our run rate of keeping our discovery cost per ounce extremely low on favourable mineralisation for future project developement.”

“Not all that many opportunities come around to drill a system this large such as what we have at Estelle. The Estelle Gold project is starting to show all the hallmarks of a district with potential of multiple major mineralized zones that can support standalone operations with Korbel (one of fifteen known targets) showing all the early signs of a tier one operation. We are eager to move RPM and Shoeshine in the development category subject to furthers works to support the next potential development ready prospects.”

25 Samples Au_FA AuCN_2hr AuCN_12hr AuRec_2hr AuRec_12hr Average 1.23 0.77 0.91 63% 76%

Table 1. Summary of Results*

*Complete Dataset of results in appendix 1

A total of 25 drill samples were collected for gold cyanidation (AuCN) analysis at ALS assay laboratory. These drill sample rejects were analysed for total gold by fire assay method (AuFA). Indicative leach recoveries were calculated using the AuCN / AuFA ratio. To provide a check, increase confidence in the results and determine the most suitable analytical method, two separate AuCN analyses were performed on each of the samples. The first AuCN analysis was by ALS method AA13, a basic tube leach test utilizing a 30g sample size with a <2 hour leach time, AAS finish. The second AuCN analysis was by ALS method AA14, a more representative bottle roll leach test utilizing a 1kg sample size with a 12 hour leach time, AAS finish. As expected, the 12 hour bottle roll test showed significantly increased recoveries across the board, establishing a clear positive correlation between leach retention time and recovery. Furthermore, the 12 hour bottle roll result provides the most representative data to date reflecting how the Korbel Gold Deposit mineralized material will perform in any future heap leach mining operation scenario. As such, the company views these results as a very encouraging component in the technical matrix which continues to build in support of the economic viability of the Estelle Gold Project.

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Table 2. Mineral Resource Statement, Oxide Korbel deposit, Estelle property. (ASX announcement: 11 September, 2019)

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Table 3. Indicative 2020 drill program

Nova Minerals Ltd. Level 17, 500 Collins Street, Melbourne, VIC, 3000. Phone: +61 3 9537 1238 Fax: + 61 3 9614 0550

Furthermore, after Nova successfully confirming its maiden resource at the Estelle Project in southern Alaska, the Company plans to fast track exploration at the Project, with a view to progressively expanding the resource base. The Company's funds will be invested in a series of ongoing exploration campaigns - including targeting, mapping and drilling programs – across the district-scale Estelle Project.

Immediate priorities will include a resource upgrade at Oxide Korbel Blocks A and B as soon as practical, additional drilling at Oxide Korbel Blocks C and D and RPM (ASX announcement: 9 December, 2019 ), and a maiden project-wide resource statement to build on the maiden 2.5Moz inferred gold resource ( ASX: 11 September 2019 ). The Company will update the market on its exploration progress and results, and will also seek to fast track preliminary economic evaluation on the Oxide Korbel resource area.

Prioritised systematic exploration strategy

The Company’s ranked and prioritised systematic exploration strategy and activities at Estelle are guided by an exploration “Project Pipeline” process to maximise the probability of multiple major discoveries ( Table 1 ). Each Milestone is defined by a specific deliverable and has each criteria needs to be ticked to determine which prospect must pass through before moving to the next Milestone. Economic criteria and probability of success increase as projects move along the pipeline. The methodology helps to ensure work is carried out across all stages of the process, cost are kept minimal and that focus is kept on the best quality targets and that the pipeline is kept full with early Milestone projects.

EXPLORATION PROGRAM Big Picture (Historical Data Review) Airborne geophysics Soil Sampling Alteration Mapping IP Surveys overlay of Alteration Zone Target Prioritisation RC and/or Diamond Drilling

Table 4: Prioritised Systematic Exploration Strategy

Figure 1: Estelle Project Pipeline

Nova Minerals Ltd. Level 17, 500 Collins Street, Melbourne, VIC, 3000. Phone: +61 3 9537 1238 Fax: + 61 3 9614 0550

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Figure 2: Location of known prospects to be followed up

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Figure 3: Estelle Location Map

Nova Minerals Ltd. Level 17, 500 Collins Street, Melbourne, VIC, 3000. Phone: +61 3 9537 1238 Fax: + 61 3 9614 0550

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Figure 4: The Tintina Gold Belt

This announcement has been authorised for release by the Board.

-Ends-

Further information:

Investor Enquiries: Avi Kimelman Ian Pamensky Chairman/ MD Company Secretary E: info@novaminerals.com.au E: info@novaminerals.com.au P: +61 39537 1238 P: +61 414 864 746

About Nova Minerals

Nova Minerals Limited (ASX:NVA FSE:QM3) is a minerals explorer and developer focused on gold and lithium projects in North America.

Nova has a diversified portfolio of projects across the US, Canada, and Australia. Two of the key projects include Nova’s Estelle Gold Project in Alaska, which holds some of North America’s largest gold deposits, and the company’s majority-owned Snow Lakes Resources, a lithium project in Canada.

Nova aims to provide shareholders with diversification through exposure to base and precious metals and to capitalise on the growing demand for lithium-based energy storage.

To learn more please visit: https://novaminerals.com.au/

Competent Person Statement

Mr Dale Schultz, Principle of DjS Consulting, who is Nova groups Chief Geologist and COO of Nova Minerals subsidiary Snow Lake Resources Ltd., compiled the technical information in this release and is a member of the Association of Professional Engineers and Geoscientists of Saskatchewan (APEGS), which is ROPO, accepted for the purpose of reporting in accordance with ASX listing rules. Mr Schultz has sufficient experience relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Schultz consents to the inclusion in the report of the matters based on information in the form and context in which it appears.

Nova Minerals Ltd. Level 17, 500 Collins Street, Melbourne, VIC, 3000. Phone: +61 3 9537 1238 Fax: + 61 3 9614 0550

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.

Appendix 1 – Full list of Composite Samples

Hole_ID	From To Interval_m SampleID Au_FA AuCN_AA13_2hr %Rec_AA13 AuCN_AA14_12hr %Rec_AA14	From To Interval_m SampleID Au_FA AuCN_AA13_2hr %Rec_AA13 AuCN_AA14_12hr %Rec_AA14	From To Interval_m SampleID Au_FA AuCN_AA13_2hr %Rec_AA13 AuCN_AA14_12hr %Rec_AA14	From To Interval_m SampleID Au_FA AuCN_AA13_2hr %Rec_AA13 AuCN_AA14_12hr %Rec_AA14	From To Interval_m SampleID Au_FA AuCN_AA13_2hr %Rec_AA13 AuCN_AA14_12hr %Rec_AA14	From To Interval_m SampleID Au_FA AuCN_AA13_2hr %Rec_AA13 AuCN_AA14_12hr %Rec_AA14
OX-RC-07 OX-RC-10 OX-RC-12 OX-RC-14 OX-RC-16 OX-RC-16 OX-RC-16 OX-RC-17 OX-RC-17 OX-RC-17 OX-RC-18 OX-RC-18 SE11-001 SE11-001 SE11-001 SE11-001 SE11-001 SE11-001 SE11-001 SE12-002 SE12-002 SE12-004 SE12-004 SE12-004 SE12-004	27.43 28.96 1.53 488188 2.23 1.19 53% 1.44 65% 15.24 16.76 1.52 488303 0.699 0.29 41% 0.52 74% 51.82 53.34 1.52 488462 0.828 0.54 65% 0.62 75% 96.01 97.54 1.53 488605 0.766 0.61 80% 0.67 87% 18.29 19.81 1.52 488652 1.8 1.19 66% 1.25 69% 28.96 30.48 1.52 488660 0.707 0.48 68% 0.62 88% 57.91 59.44 1.53 488682 1.23 0.88 72% 0.93 76% 10.67 12.19 1.52 488700 1.4 1.08 77% 1.18 84% 27.43 28.96 1.53 488713 1.085 0.97 89% 1.15 100% 44.2 45.72 1.52 488725 0.96 0.58 60% 0.63 66% 28.96 30.48 1.52 488759 1.41 1.17 83% 1.24 88% 38.1 39.62 1.52 488765 0.933 0.71 76% 0.73 78% 40.87 44.38 3.51 SE11-013 1.33 0.86 65% 0.83 62% 69.01 71.81 2.8 SE11-024 1.735 0.96 55% 1.24 71% 130.36 133.2 2.84 SE11-048 1.675 0.84 50% 0.99 59% 200.31 203.18 2.87 SE11-077 0.772 0.82 100% 0.88 100% 220.25 223.02 2.77 SE11-084 0.708 0.39 55% 0.43 61% 252.89 255.67 2.78 SE11-098 1.375 0.69 50% 0.92 67% 332.02 334.76 2.74 SE11-131 3.285 1.75 53% 1.91 58% 50.29 52.82 2.53 SE122-017 0.715 0.34 48% 0.48 67% 108.66 110.83 2.17 SE122-041 1.305 0.95 73% 1.08 83% 33.22 36.48 3.26 SE124-015 1.295 0.83 64% 1.04 80% 50.6 53.55 2.95 SE124-021 0.83 0.29 35% 0.53 64% 130.15 132.98 2.83 SE124-054 0.701 0.29 41% 0.7 100% 153.5 156.39 2.89 SE124-062 1.1 0.56 51% 0.84 76%
	Average 1.235 0.770 63% 0.914 76%
	2hr 12hr 25�Samples Au_FA AuCN_2hr AuCN_12hr AuRec_2hr AuRec_12hr Average 1.23 0.77 0.91 63% 76%
	25�Samples	Au_FA	AuCN_2hr	AuCN_12hr	AuRec_2hr	AuRec_12hr
	Average	1.23	0.77	0.91	63%	76%

Nova Minerals Ltd. Level 17, 500 Collins Street, Melbourne, VIC, 3000. Phone: +61 3 9537 1238 Fax: + 61 3 9614 0550

JORC Code, 2012 Edition – Table

The following table is provided to ensure compliance with the JORC Code (2012 Edition) for the reporting of Exploration Results

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling	• Nature and quality of sampling (e.g.	The Cyanide Leach testing is based on
techniques	cut channels, random chips, or specific	sampling a combination of recent sampling
	specialised industry standard measurement	data collected from reverse circulation (RC)
	tools appropriate to the minerals under	drilling re-sampling and historical diamond
	investigation, such as down hole gamma	drill (DD) core.
	sondes, or handheld XRF instruments, etc.).
	These examples should not be taken as
	limiting the broad meaning of sampling.
	• Include reference to measures taken
	to ensure sample representivity and the
	appropriate calibration of any measurement
	tools or systems used.
	• Aspects of the determination of
	mineralisation that are Material to the Public
	Report.
	• In cases where ‘industry standard’
	work has been done this would be relatively
	simple (e.g. ‘reverse circulation drilling was
	used to obtain 1 m samples from which 3 kg
	was pulverised to produce a 30 g charge for
	fire assay’). In other cases more explanation
	may be required, such as where there is
	coarse gold that has inherent sampling
	problems. Unusual commodities or
	mineralisation types (e.g. submarine
	nodules) may warrant disclosure of detailed
	information.
Drilling	• Drill type (e.g. core, reverse	N/A
techniques	circulation, open-hole hammer, rotary air
	blast, auger, Bangka, sonic, etc.) and
	details (e.g. core diameter, triple or standard
	tube, depth of diamond tails, face-sampling
	bit or other type, whether core is oriented
	and ifso, by what method)
Drill sample	• Method of recording and assessing	N/A
recovery	core and chip sample recoveries and results
	assessed.
	• Measures taken to maximise sample
	recovery and ensure representative nature
	of the samples.
	• Whether a relationship exists
	between sample recovery and grade and
	whether sample bias may have occurred
	due to preferential loss/gain of fine/coarse
	material.

Nova Minerals Ltd. Level 17, 500 Collins Street, Melbourne, VIC, 3000. Phone: +61 3 9537 1238 Fax: + 61 3 9614 0550

Criteria	JORC Code explanation	Commentary
Logging	• Whether core and chip samples	N/A
	have been geologically and geotechnically
	logged to a level of detail to support
	appropriate Mineral Resource estimation,
	mining studies and metallurgical studies.
	• Whether logging is qualitative or
	quantitative in nature. Core (or costean,
	channel, etc.) photography.
	• The total length and percentage of
	_the relevant intersections logged. _
Sub-	• If core, whether cut or sawn and	N/A
sampling	whether quarter, half or all core taken.
techniques
and sample	• If non-core, whether riffled, tube
preparation	sampled, rotary split, etc. and whether
	sampled wet or dry.
	• For all sample types, the nature,
	quality and appropriateness of the sample
	preparation technique.
	• Quality control procedures adopted
	for all sub-sampling stages to maximise
	representivity of samples.
	• Measures taken to ensure that the
	sampling is representative of the in situ
	material collected, including for instance
	results for field duplicate/second-half
	sampling.
	• Whether sample sizes are
	appropriate to the grain size of the material
	_being sampled. _
Quality of	• The nature, quality and	A sub set of samples from the 2019 summer
assay data	appropriateness of the assaying and	Resource drilling program was select by
and	laboratory procedures used and whether the	Nova and ALS personal retrieved these
laboratory	technique is considered partial or total.	samples form the Nova library of stored
tests	• For geophysical tools,	samples material at their Fairbanks
	spectrometers, handheld XRF instruments,	preparations lab facility.
	etc., the parameters used in determining the
	analysis including instrument make and	These samples were then sent for leach
	model, reading times, calibrations factors	testing by gold cyanidation method ALS
	applied and their derivation, etc.	code Au-AA13 and Au-AA14.
	• Nature of quality control procedures
	adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether	AA13 utilizes 30g sample size, test tube leach, <2 hour retention time, AAS finish
	acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	AA14 utilizes up to 1kg sample size, bottle roll leach, 12 hour retention time, AAS finish
Verification	• The verification of significant	N/A
of sampling	intersections by either independent or
and	alternative company personnel.
assaying
	• _The use of twinned holes. _

Nova Minerals Ltd. Level 17, 500 Collins Street, Melbourne, VIC, 3000. Phone: +61 3 9537 1238 Fax: + 61 3 9614 0550

Criteria	JORC Code explanation	Commentary
	• Documentation of primary data, data
	entry procedures, data verification, data
	storage (physical and electronic) protocols.
	• Discuss any adjustment to assay
	_data. _
Location of	• Accuracy and quality of surveys	N/A
data points	used to locate drill holes (collar and down-
	hole surveys), trenches, mine workings and
	other locations used in Mineral Resource
	estimation.
	• Specification of the grid system
	used.
	• Quality and adequacy of topographic
	control.
Data	• Data spacing for reporting of	N/A
spacing	Exploration Results.
and
distribution	• Whether the data-spacing and
	distribution is sufficient to establish the
	degree of geological and grade continuity
	appropriate for the Mineral Resource and
	Ore Reserve estimation procedure(s) and
	classifications applied.
	• Whether sample compositing has
	_been applied. _
Orientation	• Whether the orientation of sampling	N/A
of data in	achieves unbiased sampling of possible
relation to	structures and the extent to which this is
geological	known, considering the deposit type.
structure	• If the relationship between the
	drilling orientation and the orientation of key
	mineralised structures is considered to have
	introduced a sampling bias, this should be
	assessed and reported if material.
Sample	• The measures taken to ensure	ALS maintains a Webtrieve application to
security	sample security.	confirm and monitor samples and jobs
		within the laboratory process.
Audits or	• The results of any audits or reviews
reviews	of sampling techniques and data.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC	Code explanation	Commentary
Mineral	•	Type, reference name/number,	The Estelle project is comprised of Three
tenement and	location and ownership including		hundred and Sixtyeight(368)State of

Nova Minerals Ltd. Level 17, 500 Collins Street, Melbourne, VIC, 3000. Phone: +61 3 9537 1238 Fax: + 61 3 9614 0550

Criteria	JORC Code explanation	JORC Code explanation	Commentary
land tenure	agreements or material issues with third		Alaska mining claims consisting of 220km2
status	parties such as joint ventures, partnerships,		for the entire claim group.
	overriding royalties, native title interests,
	historical sites, wilderness or national park		The mining claims are wholly owned by
	and environmental settings.		AKCM (AUST) Pty Ltd. (an incorporated
			Joint venture (JV Company between Nova
			Minerals Ltd and AK Minerals Pty Ltd) via
			100% ownership of Alaskan incorporate
			company AK Custom Mining LLC. AKCM
			(AUST) Pty Ltd is owned 51% by Nova
			Minerals Ltd 49% by AK Minerals Pty Ltd.
			Nova owns 51% of the project and has the
	•	The security of the tenure held at the	right to earn up to 85% of the project
	time of reporting along with any known		through the joint venture agreement.
	impediments to obtaining a licence to
	operate in the area.		There are no native title interests in or over
			any of the claims and they are not located
			within any environmentally sensitive areas
			including National Parks, Conservation
			Reserves or Wilderness areas.
			The Company is not aware of any other
			impediments that would prevent an
			exploration or mining activity.
Exploration	•	Acknowledgment and appraisal of	The Estelle prospect has undergone both
done by	exploration by other parties.		surface and sub-surface exploration
other parties			intermittently since the 1970’s. The latest
			exploration was conducted between 2011
			and 2014 which was previously reported by
			Nova Minerals Limited (formally Quantum
			Resources).
Geology	•	Deposit type, geological setting and	The Oxide Korbel deposit is classified as a
	style of mineralisation.		Reduced Intrusion-Related Gold Deposit
			(RIRG) type. RIRG deposits typically occur
			associated with moderately reduced
			intrusions in reduced siliciclastic
			Sequences. Key characteristics of these
			deposits include low sulfide content with
			associated with reduced mineral and metal
			assemblages of Au>Ag, Bi, As, W, and Mo.
			The mineralisation occurs in multiphase
			granitic stocks and plutons. Gold is hosted
			in sheeted veins, which are coeval with their
			causative intrusions. Although these
			deposits do not have a significant
			hydrothermal alteration footprint, there are
			often peripheral mineralisation occurrences
			and proximal thermal alteration, which have
			a predictable distributionpattern,including

Nova Minerals Ltd. Level 17, 500 Collins Street, Melbourne, VIC, 3000. Phone: +61 3 9537 1238 Fax: + 61 3 9614 0550

Criteria	JORC Code explanation	Commentary
		secondary aluminosilicates, biotite, and
		tourmaline, skarns and polymetallic veins.
Drill hole	• A summary of all information
Information	material to the understanding of the
	exploration results including a tabulation of
	the following information for all Material drill
	holes:	Location dataincluding Easting, Northing
	o easting and northing of the drill hole	and RL of drill hole collars recorded in NAD
	collar	83 Zone 5.
	o elevation or RL (Reduced Level –
	elevation above sea level in metres) of the	Drill HoleAzimuth is the 360obearing of
	drill hole collar	the hole orientation.
	o dip and azimuth of the hole
	o down hole length and interception	Drill Hole Dipis the inclination of the drill
	depth	hole from horizontal.
	o hole length.
	• If the exclusion of this information is	Down Hole Lengthis the distance down
	justified on the basis that the information is	the inclination of the hole and is measured
	not Material and this exclusion does not	as the distance from the collar to the end of
	detract from the understanding of the report,	hole.
	the Competent Person should clearly
	explain why this is the case.	Intercept Depthis the distance from the
		start of the hole down the inclination of the
		hole to the depth of the zone of interest.
Data	• In reporting Exploration Results,	N/A
aggregation	weighting averaging techniques, maximum
methods	and/or minimum grade truncations (eg
	cutting of high grades) and cut-off grades
	are usually Material and should be stated.
	• Where aggregate intercepts
	incorporate short lengths of high-grade
	results and longer lengths of low grade
	results, the procedure used for such
	aggregation should be stated and some
	typical examples of such aggregations
	should be shown in detail.
	• The assumptions used for any
	reporting of metal equivalent values should
	_be clearly stated. _
Relationship	• These relationships are particularly	N/A
between	important in the reporting of Exploration
mineralisatio	Results.
n widths and
intercept	• If the geometry of the mineralisation
lengths	with respect to the drill hole angle is known,
	its nature should be reported.
	• If it is not known and only the down
	hole lengths are reported, there should be a
	clear statement to this effect (eg ‘down hole
	_length, true width not known’). _

Nova Minerals Ltd. Level 17, 500 Collins Street, Melbourne, VIC, 3000. Phone: +61 3 9537 1238 Fax: + 61 3 9614 0550

Criteria	JORC Code explanation	Commentary	Commentary	Commentary	Commentary
Diagrams	• Appropriate maps and sections (with	N/A
	scales) and tabulations of intercepts should
	be included for any significant discovery
	being reported These should include, but
	not be limited to a plan view of drill hole
	collar locations and appropriate sectional
	_views. _
Balanced	• Where comprehensive reporting of	N/A
reporting	all Exploration Results is not practicable,
	representative reporting of both low and
	high grades and/or widths should be
	practiced to avoid misleading reporting of
	_Exploration Results. _
Other	• Other exploration data, if meaningful	Appropriate figures are provided in the ASX
substantive	and material, should be reported including	release		and depict			the key results from the
exploration	(but not limited to): geological observations;	Metallurgical gold cyanidation							(AuCN)
data	geophysical survey results; geochemical	analysis.
	survey results; bulk samples – size and
	method of treatment; metallurgical test	Hole_ID OX-RC-07	From 27.43	To 28.96	Interval_m 1.53	SampleID 488188	Au_FA 2.23	AuCN_AA13_2hr 1.19	%Rec_AA13 AuCN_AA14_12hr %Rec_AA14 53% 1.44 65%
	results; bulk density, groundwater,	OX-RC-10 OX-RC-12 OX-RC-14	15.24 51.82 96.01	16.76 53.34 97.54	1.52 1.52 1.53	488303 488462 488605	0.699 0.828 0.766	0.29 0.54 0.61	41% 65% 80%	0.52 0.62 0.67	74% 75% 87%
	geotechnical and rock characteristics;	OX-RC-16 OX-RC-16 OX-RC-16	18.29 28.96 57.91	19.81 30.48 59.44	1.52 1.52 1.53	488652 488660 488682	1.8 0.707 1.23	1.19 0.48 0.88	66% 68% 72%	1.25 0.62 0.93	69% 88% 76%
	potential deleterious or contaminating	OX-RC-17 OX-RC-17 OX-RC-17	10.67 27.43 44.2	12.19 28.96 45.72	1.52 1.53 1.52	488700 488713 488725	1.4 1.085 0.96	1.08 0.97 0.58	77% 89% 60%	1.18 1.15 0.63	84% 100% 66%
	substances.	OX-RC-18 OX-RC-18	28.96 38.1	30.48 39.62	1.52 1.52	488759 488765	1.41 0.933	1.17 0.71	83% 76%	1.24 0.73	88% 78%
		SE11-001	40.87	44.38	3.51	SE11-013	1.33	0.86	65%	0.83	62%
		SE11-001	69.01	71.81	2.8	SE11-024	1.735	0.96	55%	1.24	71%
		SE11-001	130.36	133.2	2.84	SE11-048	1.675	0.84	50%	0.99	59%
		SE11-001	200.31	203.18	2.87	SE11-077	0.772	0.82	100%	0.88	100%
		SE11-001	220.25	223.02	2.77	SE11-084	0.708	0.39	55%	0.43	61%
		SE11-001	252.89	255.67	2.78	SE11-098	1.375	0.69	50%	0.92	67%
		SE11-001	332.02	334.76	2.74	SE11-131	3.285	1.75	53%	1.91	58%
		SE12-002	50.29	52.82	2.53	SE122-017	0.715	0.34	48%	0.48	67%
		SE12-002	108.66	110.83	2.17	SE122-041	1.305	0.95	73%	1.08	83%
		SE12-004	33.22	36.48	3.26	SE124-015	1.295	0.83	64%	1.04	80%
		SE12-004	50.6	53.55	2.95	SE124-021	0.83	0.29	35%	0.53	64%
		SE12-004	130.15	132.98	2.83	SE124-054	0.701	0.29	41%	0.7	100%
		SE12-004	153.5	156.39	2.89	SE124-062	1.1	0.56	51%	0.84	76%
						Average	1.235	0.770	63% 2hr	0.914	76% 12hr
			25�Samples	Au_FA	AuCN_2hr	AuCN_12hr	AuRec_2hr	AuRec_12hr
			Average	1.23	0.77	0.91	63%	76%
Further work	• The nature and scale of planned	Nova is		in the process of planning future
	further work (eg tests for lateral extensions	exploration			and drilling activities.
	or depth extensions or large-scale step-out
	drilling).	Additional areas require						have	follow-up
	• Diagrams clearly highlighting the	work in future drill program.
	areas of possible extensions, including the
	main geological interpretations and future
	drilling areas, provided this information is
	not commercially sensitive.

Nova Minerals Ltd. Level 17, 500 Collins Street, Melbourne, VIC, 3000. Phone: +61 3 9537 1238 Fax: + 61 3 9614 0550