Nova Minerals Ltd — Capital/Financing Update 2026

Jan 12, 2026

ASX Announcement

13 January 2026

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RPM Valley Drilling Confirms Continuity of Mineralized System with High-Grade Intercepts and Remains Wide Open in Multiple Directions

Closely spaced 2025 drilling at RPM Valley returned multiple broad intercepts >1 g/t Au, with visible gold observed, and an Estelle Project record intercept of 0.5 m @ 364 g/t Au.

Highlights

• Drill results include the highest-grade intercept drilled at RPM - and over the greater Estelle Project - to date of 0.5m @ 364 g/t Au from 101m, with visible gold observed in the drill core (Table 1, and Figures 2 to 4).

• Broad gold intersections continue at RPM Valley with the 2025 closely spaced infill results expected to support a maiden Measured and Indicated Mineral Resource at the valley deposit, in support of the Pre-Feasibility Study (PFS). Mineralization remains wide open with numerous holes extending below the current pit shells. Significant results include (Table 1, and Figures 2 to 8):

o RPM-081

• 65m @ 3.6 g/t Au from 83m including;

• ▪ 36m @ 5.5 g/t Au from 91m ▪ 0.5m @ 364.0 g/t Au at 101m

o RPM-069

• 155m @ 0.9 g/t Au from 71m including;

• ▪ 94m @ 1.3 g/t Au from 126m ▪ 18m @ 2.8 g/t Au from 196m

o RPM-072

▪ 172m @ 0.8 g/t Au from 352m including;

• 60m @ 1.2 g/t Au from 424m and

• ▪ 26m @ 1.4 g/t Au from 495m ▪ Also 101m @ 0.5 g/t Au from 6m at RPM North

o RPM-075

• 152m @ 0.9 g/t Au from 82m including;

• ▪ 25m @ 1.9 g/t Au from 174

o RPM-082

• 289m @ 0.7 g/t Au from 62m including;

• ▪ 40m @ 1.2 g/t Au from 152m, and ▪ 82m @ 1.0 g/t Au from 266m

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

Corporate Suite 5, 242 Hawthorn Road, Caulfield, VICTORIA 3161, Australia Phone +61 3 9537 1238

www.novaminerals.com.au info@novaminerals.com.au ACN 006 690 348 NASDAQ: NVA | ASX: NVA

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o RPM-084

• 101m @ 0.8 g/t Au from 225m including;

• ▪ 53m @ 1.2 g/t Au from 273m, and

o RPMRC-009

  - **33m @  0.3 g/t Au** from surface in the glacial till

• The new results follow-up and now confirm continuity of mineralization at RPM Valley, where previous drilling included (ASX Announcements ~~:~~ 4 October and 21 December 2022, and 10 January 2024):

• RPM-063: 9m @ 3.1 g/t Au from 83 and 70m @ 1.1 g/t Au from 205m

• RPM-060: 54m @ 2.1 g/t Au from 260m, including 17m @ 5.3 g/t Au from 273m

• RPM-048: 54m @ 1.2 g/t Au from 244m, including 16m @ 2.4 g/t Au from 255m

• RPM-037: 268m @ 0.7 g/t from 282m including 103m @ 1.0 g/t Au, including 30m @ 1.9 g/t Au, 21m @ 2.5 g/t Au from 325m, and 79m @ 1.0 g/t Au from 471m, including 30m @ 2.0 g/t Au from 501m

• RPM-025: 76m @ 1.2 g/t Au from 440m, including 43m @ 1.5 g/t Au from 474m, and 30m @ 1.7 g/t Au from 486m

• 10 RC holes were completed in the RPM glacial till using Nova’s in-house rig as a preliminary, cost-effective test, returning a notable intercept of 33 m @ 0.3 g/t Au from surface (RPMRC-009). Results indicate the essentially drilled and blasted till material may be at least 30m thick over ~330,000 m², and this area remains a high-priority target, with future work to focus on improved sampling methods and thickness verification (Table 4 and Figure 9).

• To view a commentary video from Nova’s CEO, Christopher Gerteisen, discussing the significance of these latest drill results, please click here.

• All results from RPM have now been reported. Further drill results will be released once received and validated under Nova’s QA/QC procedures, after which an updated Mineral Resource Estimate (MRE) will incorporate results from the 2023–2025 drill programs.

• PFS-level studies are ongoing, with METS Engineering undertaking additional metallurgical test work to build on the high gold recoveries achieved at RPM to date (ASX Announcement: 5 August 2025), Rough Stock Mining is conducting mining studies, and Whittle Consulting is completing optimization studies.

• Results from the extensive soil and rock chip surface samples taken from across the project area in 2025 will also be reported once received and processed.

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Nova CEO, Mr Christopher Gerteisen, commented:

“These results represent a significant advancement for RPM Valley and further validate the scale and quality of the gold system identified to date. The high-grade intercept of 0.5 m @ 364 g/t Au confirms the presence of discrete high-grade zones within a broader, mineralised system, which remains wide open in multiple directions and at depth.

“The consistency of mineralization over long intervals and across hundreds of metres reinforces our view that RPM Valley has the continuity and scale required to underpin a potentially significant mining operation, with additional upside to be assessed through further drilling. With all assays now received from the 2025 RPM infill and step-out drilling program, we expect these results to positively inform the next mineral resource update.

“While the maiden glacial till RC drilling was impacted by low sample recovery due to the unconsolidated nature of the material, the results indicate the glacial till mineralized zone is at least 30m thick. Combined with a previously identified > 1 g/t Au surface anomaly of approximately 1.7km long and 200m wide, this area remains a priority target. The till material is already crushed up, free dig material, which could be very amendable to heap leach recovery. Nova plans follow-up work with improved sampling methods.

“As pre-feasibility level studies progress across metallurgy, mining and optimisation, the Company remains focused on advancing RPM toward development while continuing to grow the resource base. With a number of near-term milestones ahead and a strong pipeline of exploration targets across the broader project area, RPM Valley continues to demonstrate its potential as a key growth asset for Nova.”

Nova Minerals Limited (Nova or the Company) (ASX: NVA, NASDAQ: NVA, FSE: QM3) is pleased to announce further drill results from the RPM Valley deposit with the 2025 closely spaced infill results returning multiple broad intercepts >1 g/t Au, and visible gold observed in an Estelle Project record intercept of 0.5 m @ 364 g/t Au, within the Company's flagship Estelle Gold and Critical Minerals Project, located in the prolific Tintina Gold Belt in Alaska.

2025 RPM Valley Drilling Summary

A total of 10 holes were drilled at RPM Valley in 2025, designed to:

• Conduct infill drilling at the RPM Valley deposit to increase the confidence of the resource.

• Continue to expand the RPM resource in the valley to the west by targeting the hornfels/intrusive contact.

• Test the connection between RPM North and RPM Valley.

The latest diamond core drill results continue to increase resource confidence at the RPM Valley deposit. All holes encountered mineralization at the base of the ice, which averaged 60m to 70m down hole. The holes drilled from Pads 23-14 and 25-2 all encountered granodiorite at the base of ice, except for RPM-071, which was drilled to the east and

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encountered hornfels bedrock at approximately 65m. Drilling in the valley has been relatively sparse compared to RPM North, and this season’s efforts aimed to increase resource confidence and delineate what is shaping up to be a much larger mineralized intrusive unit. Drilling access is difficult here due to the nature of moraines, and difficulties were encountered coring through ice on the shallower dipping holes. Figure 1 below shows the drill setup on pad 25-2.

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Figure 1. RPM Valley Pad 25-2

While the high-grade zones intersected at RPM Valley thus far may not be as broad as those at RPM North, the mineralized intrusive is larger, and the boundary remains open to the south, southeast, and at depth. Mineralization occurs within sheeted quartz and quartz-tourmaline veins. Arsenopyrite remains the dominant gold bearing sulfide, but some holes exhibited veryfine visible gold, as well as molybdenite, pyrite, and the telluride altaite. The highest grade intercept drilled at RPM - and over the greater Estelle Project - to date is shown below in Figure 2, where 0.5m @ 364 g/t Au was encountered.

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Figure 2. RPM Valley hole RPM-081 0.5m @ 364.0 g/t Au at 101m, with visible gold observed in the assayed core

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Holes RPM-071 and RPM-072 were designed to test the connection between RPM North and RPM Valley. RPM-071 was collared on the glacial moraine. It was set at a 040 degree azimuth and a -60 degree dip and missed the valley intrusion, but intersected the bottom of the RPM North granodiorite. While RPM-071 didn’t report any significant intercepts, a broad, albeit lowgrade, intercept of 154m @ 0.2 g/t Au from 304m using a 0.1 g/t cut-off was reported. RPM072 was collared on the ridge at RPM North and angled back towards RPM Valley at a 220 degree azimuth and -50 degree dip. Two notable zones of mineralization were encountered, including 101m @ 0.5 g/t Au from 6m in the RPM North granodiorite and 172m @ 0.8 g/t Au from 352m in the RPM Valley granodiorite. The hornfels sedimentary rock separating these two intrusive bodies does not contain any notable mineralization. Hole RPM-084, shown on the same section (See Figure 6), was designed to test the southwestern extent of the intrusive; however, due to drilling complications and impending freezing conditions, the hole was abandoned at 327m before reaching the southern contact with the hornfels. Hole RPM-084 (Figure 6) intercepted 101m @ 0.8 g/t Au from 225m to the final depth of 327m, this included 53m @ 1.6 g/t Au from 273m, meaning the hole had improved mineralization at depth. This mineralized zone remains open to the south and at depth. RPM-082 ran parallel to RPM-084 from the northern pad 25-3 (Figure 3), and due to drilling complications, was terminated at 354m. This hole intercepted 289m @ 0.7 g/t Au, with mineralization remaining open to the southwest and at depth.

Holes RPM-069, -073, -075, -077, -081, and -082 (Figures 3, 4, 5, 7, and 8) were designed to test the northern and northeastern contacts of the granodiorite with the hornfels – testing the hypothesis that the contact zone could be similar geologically to the high-grade core of RPM North which also occurs at the northern contact of the granodiorite and the hornfels. The northern contact at RPM Valley does not appear to confine the mineralization has tightly as that found at RPM North, however, some significant broad zones of mineralization were encountered with three of the holes having over 100m at ≥ 0.7 g/t Au, and of course the highgrade zone discussed in hole RPM-081 with 0.5m @ 364 g/t Au.

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RPM North
East Extension
RPM Valley
3
OPEN
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Figure 3: RPM plan view with all drill holes to date – Black drill traces represent the 2025 drill holes

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= Granodiorite
65m @ 3.6 g/t Au fr 83m
Incl 36m @ 5.5 g/t Au fr 91m
incl. 0.5m @ 364 g/t Au fr 101m
GRD – Granodiorite
HRN - Hornfels
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Figure 4. RPM Valley RPM-081 (92 azi)

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= Granodiorite
155m @ 0.9 g/t Au fr 71m
incl. 94m @ 1.3 g/t Au fr 125m
incl. 18m @ 2.8 g/t Au fr 196
GRD – Granodiorite
HRN - Hornfels
----- End of picture text -----

Figure 5: RPM Valley Section RPM-069 and RPM-073 (127.5 azi)

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= Granodiorite
101m @ 0.5 g/t Au fr 6m
172m @ 0.8 g/t Au fr 352m 101m @ 0.8 g/t Au fr 225m
incl. 53m @ 1.2 g/t Au fr 273m
60m @1.2 g/t Au fr 424m
26m @ 1.4 g/t Au fr 495m
OPEN
GRD – Granodiorite
HRN - Hornfels
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Figure 6. RPM Valley and North RPM-0-71, RPM-072, and RPM-084 (32 azi)

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= Granodiorite
152m @ 0.9 g/t Au fr 82m
Incl. 25m @ 1.9 g/t Au fr
OPEN
GRD – Granodiorite
HRN - Hornfels
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Figure 7. RPM Valley RPM-075 (92 azi)

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= Granodiorite
289m @ 0.7 g/t Au fr 62m
incl. 40m @ 1.2 g/t Au fr 152m
and 82m @1.0 g/t Au fr 266m
OPEN
GRD – Granodiorite
HRN - Hornfels
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Figure 8: RPM Valley RPM-082 (15 azi)

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Table :1 Significant intercepts

Hole_ID	From (m)	To (m)	Interval (m)	Au g/t
RPM-069	71	226	155	0.9
Including	126	220	94	1.3
	196	214	18	2.8
RPM-072	352	525	172	0.8
Including	424	484	60	1.2
	495	521	26	1.4
And*	6	107	101	0.5
Including*	46	70	24	1.0
RPM-073	88	175	86	0.5
RPM-075	82	235	152	0.9
Including	129	155	27	1.3
	171	231	60	1.0
	174	199	25	1.9
RPM-081	83	148	65	3.6
Including	91	128	36	5.5
	100.8	101.3	0.5	364.0
RPM-082	62	351	289	0.7
Including	152	192	40	1.2
	266	348	82	1.0
	266	300	34	1.7
RPM-084	225	327	101	0.8
Including	80	159	79	0.5
	273	327	53	1.2

Table 2: Drill hole details

Hole_ID	Easting	Northing	Elev (m)	EOH (m)	Azi	Dip	Zone		Assay Results
RPM-069	501864	6848646	1681	321	310	-70	RPM Valley	ASX: 13/01/25
RPM-071	501865	6848647	1680	466	40	-60	Valley/North	ASX: 13/01/25
RPM-072	501992	6848804	1769	568	220	-50	Valley/North	ASX: 13/01/25
RPM-073	501865	6848646	1680	280	320	-70	RPM Valley	ASX: 13/01/25
RPM-075	501866	6848644	1680	308	290	-70	RPM Valley	ASX: 13/01/25
RPM-077	501852	6848687	1675	191	260	-50	RPM Valley	ASX: 13/01/25
RPM-079	501825	6848746	1654	185	180	-60	RPM Valley	ASX: 13/01/25

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Hole_ID	Easting	Northing	Elev (m)	EOH (m)	Azi	Dip	Zone		Assay Results
RPM-081	501853	6848686	1675	275	270	-70	RPM Valley	ASX: 13/01/25
RPM-082	501824	6848746	1654	354	195	-60	RPM Valley	ASX: 13/01/25
RPM-083	501854	6848685	1676	160	195	-50	RPM Valley	ASX: 13/01/25
RPM-084	501854	6848687	1675	327	200	-60	RPM Valley	ASX: 13/01/25

Table 3: JORC compliant global mineral resource estimate (ASX Announcement: 11 April 2023)

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RPM Till Reverse Circulation Drilling Summary

A total of ten holes were drilled in the glacial till with Nova’s in-house reverse circulation (RC) drill rig. The RC drilling method in the loose unconsolidated mineralized glacial till resulted in sample loss and low recoveries, and the inability to consistently reach target depth due to difficult ground conditions. As such, the Company believes that these samples underrepresent the potential grade and depth of the zone. Alternative drilling methods such as split spoon sampling or sonic drilling are may be more appropriate tools to retrieve more representative, in-situ samples from the till. However, Nova’s utilisation of their RC drill rig was cost effective for this preliminary test. The finer fraction targeted in the 2024 soil sampling grid (ASX Announcement 3 February 2025) is susceptible to being blown out by the compressed air and into the unconsolidated till and not recovered in the drill sample. Despite this drawback, one significant intercept was returned from RPMRC-009 with 33m @ 0.3 g/t Au from surface. It is important to note that the glacial till is essentially like a drilled and blasted broken rock stockpile, and likely amenable to heap leaching which has been proven effective at RPM (Gold recoveries of up to 68.7% achieved via heap leach in ASX Announcement 5 August 2025). Maiden drilling confirms the till is at least 33m thick in a debris lobe that has been mapped to have an areal extent of over 1.7km long and 200m wide (~ 330,000 square meters) shown as Qdt2 on Figure 9. The glacial till remains a high priority target for Nova, and future work will focus on collecting more representative samples and verifying the overall thickness.

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9
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Figure 9. RPM glacial till RC drilling plan view

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Till
Till
Hornfels (?)
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Figure 10: RPM glacial till RPMRC-009 and RPMRC-010 (090 azi)

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Table 4. Glacial Till Intercepts

Hole_ID	From (m)	To (m)	Interval (m)	Au g/t
RPMRC_001	0	13	13	0.2
RPMRC_002	5	15	11	0.3
RPMRC_003	9	10	2	0.2
RPMRC_004	8	11	3	0.1
RPMRC_005	0	8	8	0.2
RPMRC_006	0	9	9	0.3
RPMRC_007	0	3	3	0.2
RPMRC_008	0	6	6	0.2
RPMRC_009	0	33	33	0.3
RPMRC_010	0	7	7	0.4

Table 5. RC Hole Details

Hole_ID	Easting	Northing	Elev (m)	EOH (m)	Azi	Dip	Zone		Assay Results
RPMRC_001	500511	6850052	1338	56	0	-90	Glacial Till	ASX: 13/01/25
RPMRC_002	500514	6850054	1338	24	0	-90	Glacial Till	ASX: 13/01/25
RPMRC_003	500465	6850079	1329	18	0	-90	Glacial Till	ASX: 13/01/25
RPMRC_004	500468	6850075	1330	18	0	-90	Glacial Till	ASX: 13/01/25
RPMRC_005	500476	6850092	1330	15	0	-90	Glacial Till	ASX: 13/01/25
RPMRC_006	500475	6850094	1330	13	0	-90	Glacial Till	ASX: 13/01/25
RPMRC_007	500499	6850067	1335	16	0	-90	Glacial Till	ASX: 13/01/25
RPMRC_008	500499	6850066	1335	16	0	-90	Glacial Till	ASX: 13/01/25
RPMRC_009	500869	6849899	1432	38	0	-90	Glacial Till	ASX: 13/01/25
RPMRC_010	500871	6849900	1432	9	0	-90	Glacial Till	ASX: 13/01/25

Upcoming Milestones

• Further drill results

• Further results and potential new discoveries from the 2025 surface exploration mapping and sampling program

• Material PFS test-work results as they become available

• Updated MRE

• Winter trail mobilization of heavy equipment

• Airborne geophysical surveys to commence in the spring of 2026

• Antimony phase 1 project updates

• Metallurgical test work ongoing

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• Environmental test work ongoing

• West Susitna access road updates

Estelle Gold and Critical Minerals Project Discussion and Analysis

Further discussion and analysis of the Estelle Gold and Critical Minerals 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 Executive Directors.

Christopher Gerteisen Annalise Batchelor Cameron Gilenko CEO and Executive Director Sodali & Co Sodali & Co E: info@novaminerals.com.au Investor Relations & Media Investor Relations & Media E: annalise.batchelor@sodali.com E: cameron.gilenko@sodali.com M: +61 432 312 807 M: +61 466 984 953

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 km2 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, Kinross Gold Corporation's Fort Knox Gold Mine. The belt also hosts significant Antimony deposits and was a historical North American Antimony producer.

Competent Person Statements

Mr Vannu Khounphakdee P.Geo., who is an independent consulting geologist of a number of mineral exploration and development companies, reviewed and approves the technical information in this release and is a member of the Australian Institute of Geoscientists (AIG), which is ROPO accepted for the purpose of reporting in accordance with ASX listing rules. Mr Vannu Khounphakdee has sufficient experience relevant to the gold deposits under evaluation 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 Vannu Khounphakdee is also a Qualified Person as defined by S-K 1300 rules for mineral deposit disclosure. Mr Vannu Khounphakdee consents to the inclusion in the report of the matters based on information in the form and context in which it appears.

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The information in the announcement dated today that relates to exploration results and exploration targets is based on information compiled by Mr. Hans Hoffman. Mr. Hoffman, Owner of First Tracks Exploration, LLC, who is providing geologic consulting services to Nova Minerals, compiled the technical information in this release and is a member of the American Institute of Professional Geologists (AIPG), which is ROPO, accepted for the purpose of reporting in accordance with ASX listing rules. Mr. Hoffman 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. Hoffman consents to the inclusion in the report of the matters based on information in the form and context in which it appears.

The Exploration results were reported in accordance with Clause 18 of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (2012 Edition) (JORC Code).

The Company is also listed on the NASDAQ in the United States and, as a result, is required in respect of its exploration and resource reporting to comply with the US Securities and Exchange Commission (SEC) requirements in respect of resource reporting in the USA. This requires compliance with the SEC’s S-K 1300 resource regulations. Investors accessing the Company’s NASDAQ press releases should be aware that S-K 1300 statements made in those releases are not JORC Code compliant statements.

Nova Minerals confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements, and in the case of the exploration results, that all material assumptions and technical parameters underpinning the results in the relevant market announcement continue to apply and have not materially changed.

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forwardlooking information, and forward looking information can be identified by the use of forwardlooking 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.” Forwardlooking 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 labor 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

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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 labor costs; general global markets and economic conditions; risks associated with exploration of mineral deposits; the estimation of initial targeted mineral resource tonnage and grade 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, capitalization 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 forward-looking information. Forward looking information is made as of the date of this announcement and the Company does not undertake to update or revise any forwardlooking information which is included herein, except in accordance with applicable securities laws. All drilling and exploration activities is subject to no unforeseen circumstances.

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Appendix 1: JORC Code, 2012 Edition – Table 1 Estelle Gold and Critical Minerals Project - Alaska Section 1 Sampling Techniques and Data

Criteria	JORC Code Explanation	Commentary
Sampling techniques	• Nature and quality of sampling (eg cut channels, random chips, or specifc specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma 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 fre assay’). In other cases more explanation may be required, such as where there is coarse Au that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	• Core is systematically logged from collar to EOH characterizing rock type, mineralization, and alteration. Oriented core measurements of structural features are taken where appropriate. Geotechnical measurements such as recoveries and RQDs are taken at 10-foot (3.05 m) intervals. Samples are taken each 10 feet (3.05m) unless there is a change in lithology, whereby <3.05m selective samples may be taken. In these cases samples are broken to lithologic boundaries. Samples are then half cut with one of the half cuts being sent to the ALS lab in Fairbanks Alaska for processing. The remaining half core is returned to the box and safely stored as reference material. • For RC drilling each 1.52 m interval was riffle split to obtain 3 to 5 kg samples at the drill site, these samples were crushed to achieve >90% passing a 2mm sieve and split down to 225 g to 275 g samples at Nova’s on- site prep facility. Samples were then sent to ALS Fairbanks for additional prep and chemical analysis. • Sampling and sample preparation protocols for recent RC drilling best practices and are appropriate for the mineralization type being evaluated. • Rejects are stored on site as reference material.
Drilling techniques	• Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube,	• HQ diamond core triple tube, down hole surveys every 150 feet (~50m), using a Stokholm Precision Tools survey tool.

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Criteria	JORC Code Explanation	Commentary
	depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).	• Reverse circulation drill sampling uses an 87-mm bit and 81-mm hammer (Sandvik RE531 or similar)
Drill sample recovery	• Method of recording and assessing 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 fne/coarse material	• Core is processed at the on-site certifed crush/split prep-lab with ~250g sample being sent of site to the ALS analytical lab in Reno Nevada. Recoveries were recorded for all holes, into a logging database to 3cm on a laptop computer by a qualifed geologist using the drillers recorded depth against the length of core recovered. No signifcant core loss was observed. • Triple tube HQ to maximise core recovery and enable orientation of core. • No known relationship between sample recovery and grade. As no samples have been taken as yet, no assay results are reported, visual results only. • Recovery data is typically not recorded for RC drilling.
Logging	• Whether core and chip samples 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.	• Core logging is carried out by qualifed geologists using a project specifc logging procedure. Data recorded includes, but is not limited to, lithology, structure, RQD, recovery, alteration, sulphide mineralogy and presence of visible gold. This is supervised by senior geologists familiar with the mineralisation style and nature. Inspection of the drill core by the site Chief Geologist is monitored remotely using photographs and logs. Rock codes have been set up specifcally for the project. Logging is to a suffcient level of detail to support appropriate Mineral Resource estimation and mining studies. • Drill logging is both qualitative by geological features and quantitative by geotechnicalparametersin nature.

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Criteria	JORC Code Explanation	Commentary
		Photographs are taken of all cores trays, (wet) of whole core prior to cutting. • RC chip sample intervals were recorded in the feld on a logging template form. Chip samples are stored on site in chip logging trays. These data have been compiled digitally.
Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube 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 feld duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled	• Samples are taken each 10 feet (3.05m) unless there is a change in lithology. In these cases samples are broken to lithologic boundaries. Samples are then half cut with one of the half cuts being sent to the ALS lab in Fairbanks Alaska for processing. Three different types of SRM are inserted each 20 samples. Duplicates of the reject are taken each 20 samples. One blank is inserted each 40 samples. Data is plotted and evaluated to see if the samples plot within accepted tolerance. If any “out of control” samples are note, the laboratory is notifed. • Each 1.52 m RC interval was riffle split (dry) to obtain 3-5 kg samples at the drill site, these samples were crushed to achieve >90% passing a 2mm sieve and split down to 225 g to 275 g samples at Nova’s on-site prep facility. Samples were then sent to ALS Fairbanks for additional prep and chemical analysis. Field duplicates (RC) for recent data were collected every 1 in 20 samples at the same time using the same method (riffle split) as the parent sample. Blank material was inserted 1 in 40 samples. Standard Reference Material (SRM) was inserted 1 in 20 samples. Three different SRMs at three different grades levels were used.

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Criteria	JORC Code Explanation	Commentary
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	• Samples are tested for gold using ALS Fire Assay Au- ICP21 technique. This technique has a lower detection limit of 0.001 g/t with an upper detection limit of 10 g/t. If samples have grades in excess of 10 g/t then Au- GRA21 is used to determine the over detect limit. Au- GRA21 has a detection limit of 0.05 g/t and an upper limit of 10,000 g/t. Four acid digestion with ICP-MS fnish (ME-MS61) was used to evaluate 48 different elements. Three different types of SRM are inserted each 20 samples. Duplicates of the reject are taken each 20 samples. One blank is inserted each 40 samples. Data is plotted and evaluated to see if the samples plot within accepted tolerance. If any “out of control” samples are note, the laboratory is notifed. • Each 1.52 m RC interval was riffle split (dry) to obtain 3-5 kg samples at the drill site, these samples were crushed to achieve >90% passing a 2mm sieve and split down to 225 g to 275 g samples at Nova’s on-site prep facility. Samples were then sent to ALS Fairbanks for additional prep and chemical analysis. • Sampling and sample preparation protocols for RC drilling followed industry best practices and are appropriate for the mineralization type being evaluated. • Field duplicates (RC) were collected every 1 in 20 samples at the same time using the same method (riffle split) as the parent sample. Blank material was inserted 1 in 40 samples. Standard Reference Material (SRM) was inserted 1 in 20 samples. Three different SRMs at three different grades levels were used.
Verifcation of sampling and assaying	• The verifcation of signifcant intersections by either independent or alternative company personnel. • The use of twinned holes. Documentation of primary data, data entry procedures, data verifcation, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	• Assay data intercepts are compiled and calculated by the CP and then verifed by corporate management prior to the release to the public.

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Criteria	JORC Code Explanation	Commentary
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specifcation of the grid system used. • Quality and adequacy of topographic control	• All maps and locations are in UTM grid (NAD83 Z5N) and have been measured by a digital Trimble GNSS system with a lateral accuracy of <30cm and a vertical accuracy of <50cm.All amounts in USD.
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is suffcient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifcations applied. • Whether sample compositing has been applied.	• Drill holes have been spaced in a radial pattern such that all dimensions of the resource model is tested. Future geo-stats will be run on the data to determine if addition infll drilling will be required to confrm continuity. • The verifcation of signifcant intersections has been completed by company personnel and the competent persons. No drill holes within the resource were twinned. For RC drilling each 1.52 m sample was sent to ALS Fairbanks and an off cut of chips were generated from each sample. RC data was logged digitally into Excel templates and validated. Recent assay fles are received from the laboratory in CSV format. The maiden RC drill program targeting the glacial till is not yet used in the Mineral Resource and Ore reserve estimation procedures.
Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • 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.	• The relationship between the drilling orientation and the orientation of key mineralised structures is confrmed by drill hole data driven ongoing detailed structural analysis by OTS structural consultants. • No orientation data is collected from RC holes.
Sample security	• The measures taken to ensure sample security	• A secure chain of custody protocol has been established with the site geologist locking samples in secure shipping container at site until loaded on to

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Criteria	JORC Code Explanation	Commentary
		aircraft and shipped to the secure restricted access area for processing by Nova Minerals staff geologists. • Samples are then shipped to the secure restricted access to ALS Metallurgical facility Fairbanks.
Audit or reviews	• The results of any audits or reviews of sampling techniques and data.	• Detailed QA/QC analysis is undertaken on an ongoing basic by Qualitica Consulting.

Section 2 Reporting of Exploration Results

Criteria	JORC Code Explanation	Commentary
Mineral tenement and land tenement status	• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	• The Estelle Gold and Critical Minerals Project is comprised of 512km2State of Alaska mining claims • The mining claims are wholly owned by 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 85% by Nova Minerals Ltd, 15% by AK Minerals Pty Ltd. AK Minerals Pty Ltd holds a 2% NSR (ASX Announcement: 20 November 2017). Nova owns 85% of the project through the joint venture agreement. • The Company is not aware of any other impediments that would prevent an exploration or mining activity.
Exploration done by other parties	• Acknowledgement and appraisal of exploration by other parties	• Geophysical, Soil testing, and drilling was completed by previous operators in the past. Nova Minerals has no access to this data.

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Criteria	JORC Code Explanation	Commentary
Geology	• Deposit type, geological setting and style of mineralisation	• Nova Minerals is primarily exploring for Intrusion Related Gold System (IRGS) type deposit within the Estelle Project
Drill hole information	• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: - easting and northing of the drill hole collar - elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar - dip and azimuth of the hole - down hole length and interception depth -hole length. • If the exclusion of this information is justifed on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	• See Tables 2 and 5 which provides details of all holes drilled
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum 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.	• Widths are report as core length. Future true widths will be calculated by measuring the distance perpendicular to the dip of the mineralized zone on any given cross section that the intercept appears on. Two holes per section are required to calculate true thickness. No “Top Cap” has been applied to calculation of any intercepts. A “Top Cap” analysis will be completed during a future Resources Study and applied if applicable. Widths of intersection are calculated by applying a weighted average (Sum [G x W] / Sum [W]) to the gold values and reported widths within any given intercepts. The CP will visually select the intercept accordingto naturalgroupingof higher-grade assays.

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Criteria	JORC Code Explanation	Commentary
		Zones of internal dilution my vary depending on the CP discretion as to what is geologically signifcant. Sub intersection of higher grades within any given intercepts may be broken out if present. • An overall average grade cut-off of 0.1g/t and a maximum of 6 meters of internal dilution was used.
Relationship between mineralisation widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation 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’).	• See above.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any signifcant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Plan view maps in Figures 3 and 9, and sections views in Figures 4 to 8 and Figure 10, show the hole traces and pads used for drilling. Holes completed and/or in progress are also marked.
Balanced reporting	• Where comprehensive reporting of 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.	• The majority of the holes drilled in 2026 are shown in cross-section view in Figures 4 through 8 and Figure 10, signifcant intercepts are called out.
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	• The majority of the surfcial geochemistry data has been reported. • 2025 surface sampling and geophysical survey results will be reported early in 2026.

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Criteria	JORC Code Explanation	Commentary
Further work	• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	• All drilling for 2025 has been completed awaiting the return of fnal outstanding assay results to determine next steps. Assay results for the 2025 drilling in the RPM area have now all been received and reported.

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