Nova Minerals Ltd — Capital/Financing Update 2023

Jan 29, 2023

ASX RELEASE 30 January 2023

==> picture [71 x 83] intentionally omitted <==

Nova’s Majority Owned Snow Lake Lithium Chairman Update

Nova Minerals Limited ( Nova or the Company ) ( ASX: NVA, OTC: NVAAF, FSE: QM3 ) is pleased to provide an update on the Thompson Brothers Lithium Project, through its majority owned investment in Snow Lake Resources Ltd ( NASDAQ:LITM ).

View announcement here: https://www.accesswire.com/737172/Snow-Lake-Lithium-ChairmanProvides-Update-on-Thompson-Brothers-Lithium-Project-Fast-Track-Growth-Strategy

Nova CEO, Mr Christopher Gerteisen commented: “ As a 37% shareholder in Snow Lake Lithium, Nova is pleased with the conservative, systematic path, and the speed the new board is taking to quickly transition the company back to its core fundamentals of fast tracking its lithium development project with the aim of generating early positive cash flows from an initial simple direct shipping ore (DSO) operation and further spodumene concentrate sales.

This approach, is well thought out and prudent for the benefit of shareholders, and Nova looks forward to reporting further progress as Snow Lake Lithium implements its new strategy.”

For further information regarding Nova Minerals Ltd please visit the Company’s website www.novaminerals.com.au

This announcement has been authorized for release by the Executive Directors.

Christopher Gerteisen Ian Pamensky CEO and Executive Director Company Secretary E: info@novaminerals.com.au E: info@novaminerals.com.au

About Nova Minerals

Nova Minerals Limited (ASX: NVA) vision is developing North America’s next major gold trend, Estelle, to become a world class, tier-one, global gold producer. Its flagship Estelle Gold Project contains multiple mining complexes across a 35km long mineralized corridor of over 20 identified gold prospects, including two already defined multi-million ounce resources containing a combined 9.6 Moz Au. The project is situated on the Estelle Gold Trend in Alaska’s prolific Tintina Gold Belt, a province which hosts a 220 million ounce (Moz) documented gold endowment and some of the world’s largest gold mines and discoveries including Victoria Gold’s Eagle Mine and Kinross Gold Corporation’s Fort Knox Gold Mine.

Additionally, Nova holds a substantial interest in NASDAQ-listed lithium explorer Snow Lake Resources Ltd (NASDAQ: LITM) and a holding in Asra Minerals Limited (ASX: ASR), a gold and rare earths exploration company based in Western Australia, and a 9.9% interest in privately owned RotorX Aircraft manufacturing (www.rotorxaircraft.com/evtol/) who are seeking to list in the USA in the near future.

Corporate Suite 602, 566 St Kilda Road, Melbourne, Victoria, 3004, Australia Phone +61 2 9537 1238

ASX: NVA | OTC: NVAAF | FSE: QM3 www.novaminerals.com.au Email info@novaminerals.com.au ACN 006 690 348

Main Operations Whiskey Bravo Airstrip Matanuska-Susitna Borough, Alaska, USA 1150 S Colony Way Suite 3-440, Palmer, AK 99645

1

==> picture [72 x 46] intentionally omitted <==

==> picture [489 x 276] intentionally omitted <==

2

==> picture [72 x 46] intentionally omitted <==

3