Nova Minerals Ltd — Capital/Financing Update 2025

Oct 13, 2025

ASX RELEASE

14 October 2025

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Nova Minerals Engaged Ahead of High-Level Critical Minerals Talks with U.S. President Trump

Estelle Project to feature in strategic Australia-U.S. critical minerals cooperation with initial production of antimony targeted for 2026/27

Highlights

• Nova Minerals (ASX: NVA) has been requested by His Excellency The Hon Dr Kevin Rudd AC, Australian Ambassador to the United States, to provide a briefing on its Estelle Gold and Critical Minerals Project ahead of the meeting between Australian Prime Minister Anthony Albanese and U.S. President Donald Trump on 20 October 2025 in Washington DC.

• The briefing follows a site visit by the Australian Consular-General, Tanya Bennett in August this year which recognized the Estelle Project as a leading example of the deepening Australia– United States collaboration in critical minerals and strategic resource development.

• Recent US$43.4 million award from the U.S. Department of War (DoW) and robust government backing at federal, state and local levels, highlights the strategic importance of Nova’s antimony production plans, targeting military-spec antimony by 2026/27.

• Nova’s planned antimony refinery at Port MacKenzie, with secured land use permits, further strengthens its position as the leading emerging fully integrated antimony producer in the U.S.

• The inclusion of antimony on the U.S. Critical Minerals List, coupled with growing global demand, underscores the Estelle Project’s strategic importance in supporting U.S. defense and industrial supply chains.

Nova CEO, Mr Christopher Gerteisen, commented: “Being invited to brief the Australian Government for this high-level meeting between Prime Minister Albanese and President Trump is a testament to the strategic importance of the Estelle Project. With antimony recognized as a critical mineral and our gold resources adding significant value, Nova is well-positioned to contribute to both U.S. and Australian critical minerals strategies. The US$43.4 million DoW award and our secured land at Port MacKenzie underscore our commitment to building a secure, domestic supply chain for antimony and supporting U.S. defense and industrial needs. We look forward to continued collaboration with both governments as we advance the Estelle Project toward production.”

Nova Minerals Limited (Nova or the Company) (ASX: NVA, NASDAQ: NVA, FRA: QM3) is pleased to announce that it has been approached by His Excellency The Hon Dr Kevin Rudd AC, Australian Ambassador to the United States, to provide a comprehensive update on its Estelle Gold and Critical Minerals Project in Alaska. This briefing is in preparation for the upcoming meeting between Australian Prime Minister Anthony Albanese and U.S. President Donald Trump, scheduled for Thursday, 20 October 2025, in Washington DC, where critical minerals and strategic resource cooperation will be key discussion points.

Corporate ASX: NVA | NASDAQ: NVA | FRA: QM3 Suite 5, 242 Hawthorn Road, www.novaminerals.com.au Caulfield, Victoria, 3161, Email info@novaminerals.com.au Australia Phone +61 3 9537 1238 ACN 006 690 348

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

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Strategic Engagement with Australian and U.S. Governments

As part of the briefing, Nova has been requested to provide details on its U.S. investments, including an overview of the Estelle Project, the key minerals identified, planned expansion activities, and the Company’s engagement with U.S. government agencies. This request highlights the growing strategic importance of the Estelle Project, located in Alaska’s prolific Tintina Gold Belt, which hosts significant gold and antimony assets. The Project’s antimony prospects are of particular significance given antimony’s recent inclusion on the U.S. Department of the Interior’s Draft 2025 Critical Minerals List and its vital role in the defense, energy, and advanced manufacturing sectors.

Nova’s recent US$43.4 million award from the U.S. Department of War (DoW) to its wholly-owned subsidiary, Alaska Range Resources LLC, further validates the project’s importance. The funding supports the accelerated development of a fully integrated U.S. antimony supply chain, targeting production of military-spec antimony by 2026/27. Additionally, Nova’s secured land use permit for a proposed antimony refinery at Port MacKenzie positions the Company as a first-mover in establishing a domestic antimony production hub.

Estelle Project Overview The Estelle Project, spans 514 km² of State of Alaska mining claims, located 150 km northwest of Anchorage in the Tintina Gold Belt. The project contains one of the world’s largest undeveloped gold deposits with over 20 advanced gold and antimony prospects across a 35 km long mineralized corridor, including two defined multi-million ounce gold resources and several drill-ready antimony prospects with significant outcropping stibnite vein systems.

The project’s potential is further enhanced by its proximity to world-class infrastructure and its alignment with regional development initiatives, such as the West Susitna Access Road. Nova’s proposed antimony refinery at Port MacKenzie, supported by a 42.81-acre land use permit, will produce a range of antimony products, including antimony trisulfide (Sb ₂ S ₃ ), antimony trioxide (Sb ₂ O ₃ ), and antimony metal, for both military and industrial applications.

Antimony and Gold Market Context Antimony, a critical mineral for defense and high-tech applications, has seen growing demand due to its use in munitions, semiconductors, and energy systems. The U.S. Government’s support for domestic critical minerals projects, including advanced permitting and funding, highlights the strategic importance of Nova’s antimony production plans. Gold, a key component of the Estelle Project, continues to benefit from strong market prices, further enhancing the project’s economic value.

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Figure 1: Estelle Project located in Alaska’s Tintina Gold Belt

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Figure 2: Nova’s proposed fully secured and integrated U.S. domestic antimony supply chain plan.

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Site secured for
proposed Nova
antimony refinery
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Figure 3. Aerial view of Port MacKenzie highlighting the site for Nova’s proposed antimony refinery and Port infrastructure. Source: Port MacKenzie Operations

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Further discussion and analysis of the Estelle Project is available through the interactive Vrify 3D animations, presentations, and videos, all available on the Company’s website. www.novaminerals.com.au

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

Christopher Gerteisen Craig Bentley CEO and Executive Director Director of Finance & Compliance E: info@novaminerals.com.au E: craig@novaminerals.com.au M: +61 414 714 196

About Nova Minerals Limited

Nova Minerals Limited is a Gold, Antimony and Critical Minerals exploration and development company focused on advancing the Estelle Project, comprised of 514 km[2] of State of Alaska mining claims, which contains multiple mining complexes across a 35 km long mineralized corridor of over 20 advanced Gold and Antimony prospects, including two already defined multi-million ounce resources, and several drill ready Antimony prospects with massive outcropping stibnite vein systems observed at surface. The 85% owned project is located 150 km northwest of Anchorage, Alaska, USA, in the 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, Nova Gold and Paulson Advisors Donlin Creek Gold Project and Kinross Gold Corporation's Fort Knox Gold Mine. The belt also hosts significant Antimony deposits and was a historical North American Antimony producer.

Forward-looking Statements and Disclaimers

This news release contains “forward-looking information” within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget” “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved.” Forward-looking information is based on certain factors and assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, Gold and other metal prices, the estimation of initial and sustaining capital requirements, the estimation of labour costs, the estimation of mineral reserves and resources, assumptions with respect to currency fluctuations, the timing and amount of future exploration and development expenditures, receipt of required regulatory approvals, the availability of necessary financing for the Project, permitting and such other assumptions and factors as set out herein. Apparent inconsistencies in the figures shown in the MRE are due to rounding.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in Gold prices; sources and cost of power and water for the Project; the estimation of initial capital requirements; the lack of historical operations; the estimation of labour costs; general global markets and economic conditions; risks associated with exploration of mineral deposits; the estimation of initial targeted mineral resource tonnage and grade

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for the Project; risks associated with uninsurable risks arising during the course of exploration; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support exploration activities; risks associated with changes in the mining regulatory regime governing the Company and the Project; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalisation and liquidity risks including the risk that the financing necessary to fund continued exploration and development activities at the Project may not be available on satisfactory terms, or at all; the risk of potential dilution through the issuance of additional common shares of the Company; the risk of litigation.

Although the Company has attempted to identify important factors that cause results not to be as anticipated, estimated or intended, there can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forwardlooking information. Forward looking information is made as of the date of this announcement and the Company does not undertake to update or revise any forward-looking information which is included herein, except in accordance with applicable securities laws.

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