Nova Minerals Ltd — Capital/Financing Update 2019

Jul 9, 2019

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ACN 006 690 348

10 July 2019

Dear Shareholder

Invitation to Participate in Share Purchase Plan

On 3 July 2019, Nova Minerals Limited (ACN 006 690 348) ( Nova or Company ) announced that it would be undertaking a share purchase plan ( Plan or SPP ) to raise up to $1,000,000 before costs, with an option for the Company to accept oversubscriptions, on the terms and conditions contained in the offer booklet ( Terms and Conditions ) ( Offer ).

This SPP is in addition to the recently announced placement of 25 million fully paid ordinary shares in Nova ( Shares ) to professional and sophisticated investors, raising $500,000 ( Placement ).

Nova is now pleased to provide details of the SPP. Under the Plan, Nova is giving Eligible Shareholders (defined below) the opportunity to purchase up to $15,000 worth of Shares at an issue price of $0.02 per Share, being the same price as the Placement, irrespective of the size of their shareholding, without incurring brokerage or transaction costs.

The right to participate under the Plan is optional and is available exclusively to shareholders who are registered as holders of Shares at 5:00pm (AEST) on 2 July 2019 ( Record Date ) and whose registered address is in Australia ( Eligible Shareholders ).

The Plan entitles Eligible Shareholders, irrespective of the size of their shareholding, to purchase up to $15,000 worth of Shares without incurring brokerage or other transaction costs at $0.02 per Share (Price), being the same price as the recent Placement. The volume-weighted average price (VWAP) of Shares traded on the ASX during the 5 trading days immediately prior to the announcement date of the Offer was $0.0212. The Price represents an approximately 5.7% discount to that VWAP.

When determining the amount (if any) by which to scale back an application, the Company may take into account a number of factors, including the size of an applicant’s shareholding, the extent to which an Eligible Shareholder has sold or bought additional shares after the record date and the date an application was made.

Eligible Shareholders are therefore encouraged to submit applications early. Nova minerals Limited reserves the right to close the SPP Offer early.

To apply online and pay via BPAY®:

Visit the NVA SPP website at https://events.miraqle.com/nva-spp

Or alternatively, visit the NVA SPP via the Nova website at https://novaminerals.com.au.

• Complete the necessary security checks to access the site

• Download and read the Share Purchase Plan Offer Booklet in its entirety and seek appropriate professional advice if necessary

• Click on SPP Application and follow the prompts You will need the following details:

  • Security Reference Number or Holder Identification Number

  • The name of your registered holding (Surname or Entity Name)

  • The postcode of your registered holding

• Complete the online form and click submit to receive your personalised BPAY details

• – Make your BPAY payment in line with your financial institutions’ instructions

If you wish to participate in the SPP, please ensure Link Market Services Limited received payment in cleared funds by no later than 5pm (AEST) on Monday 29 July 2019 (the Closing Date) .

Details of Nova’s current activities are set out in the announcements made by Nova to the ASX and are available from the ASX, or Nova’s website at www.novaminerals.com.au

The funds raised after costs under the Plan, as under the Placement, will be allocated towards funding the Company’s explorations activities at its Estelle Gold Project and for general working capital.

Should you wish to discuss any information contained in this letter further, do not hesitate to contact Nova’s Company Secretary, Adrien Wing, on +61 (0)3 9614 0600 or via email at info@novaminerals.com.au

Yours faithfully

Avi Kimelman Managing Director NOVA MINERALS LIMITED