Nova Minerals Ltd — Interim / Quarterly Report 2013

Jul 30, 2013

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Quantum Resources Limited ABN 84 006 690 348

Manager Companies Australian Securities Exchange Level 6, 20 Bridge Street Sydney NSW 2000

By E-Lodgement

REPORT FOR THE QUARTER ENDED 30 JUNE 2013

Quantum Resources Limited ABN 84 006 690 348

Level 8 580 St Kilda Road Melbourne, VIC, 3004

PO Box 6315 St Kilda Road Central Melbourne, VIC, 8008

Telephone: +61 3 8532 2840 www.qur.com.au Directors

Mr Joseph Gutnick Chairman / Managing Director

OVERVIEW

Telfer Project

• Acquisition and processing of historical geophysical data completed. Interpretation of data underway.

• An appropriate exploration program will be developed following this assessment.

Gardner Range Project

• The Company is continuing with its evaluation of the project to determine whether it will proceed with a program of drilling to conduct a preliminary assessment of grade and occurrence of uranium and rare earth elements mineralisation.

Dr David S Tyrwhitt Non-Executive Director

Mr Peter Lee

Director, CFO & Company Secretary

Senior Management

Mr Mike Kammermann

Exploration Manager

Quantum Resources Limited June 2013 Quarterly Report

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Quantum Resources Limited ABN 84 006 690 348

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REGIONAL EXPLORATION

Telfer Project

The Company’s Telfer Project comprises a single granted exploration licence within the Paterson Province in the Pilbara region of Western Australia. The Paterson Province is a world class mineral province which hosts significant deposits of various styles of mineralisation including the Telfer Gold Mine and O’Callaghans tungsten and base metals skarn deposit, the Kintyre uranium deposit and the Nifty copper deposit. The Telfer gold mine is host to one of Australia's largest gold deposits with a reported Ore Reserve of 11.6 million ounces of gold and 0.66 million tonnes of copper within a Mineral Resource of approximately 20.2 million ounces gold (December 2012). The O’Callaghan’s ore body, 10km south east of Telfer mine, is also owned by Newcrest and hosts significant resources of tungsten, copper, lead and zinc.

The Company’s exploration licence is located close to existing infrastructure approximately 6km to the northeast of the Newcrest Mining Ltd Telfer gold mine. Historic drilling has shown that gold mineralisation occurs within the licence including results of 7m @ 13.64g/t gold. The relationship of the mineralisation to stratigraphy and structure of the area has not been fully understood however the drilling clearly demonstrates the presence of a gold mineralising system in a geological setting that differs from the Telfer deposit. The Fallows Field deposit located 8km southwest of the Telfer Mine is hosted by rocks similar to those with the Company’s licence and is of a different mineralisation style to the Telfer deposit. Fallows Field is recorded to have produced approximately 50,000 ounces highlighting the potential for substantial gold deposits to occur in non-Telfer geological settings.

Evaluation of the historical drilling data within the Company’s licence has determined that 97% of drill holes were less than 100m depth testing only the shallow, possibly supergene enriched saprolite. In addition, approximately 70% of the licence has not been adequately explored possibly due to the recent sands and younger cover sequences limiting the effectiveness of surface geochemical methods. Historical geophysical techniques, particularly electrical methods, may have been ineffective due to the deep weathering profile and thus were unable to define the mineralisation. Historic data, which includes a helicopterborne magnetic survey and time-domain electromagnetic survey was also considered to contain a substantial noise component that could not be removed using available software at the time of the survey.

During the quarter the historical geophysical data was acquired and processed using current software. The reprocessing has produced a number of images which will assist with interpretation of the structure and stratigraphy and its relationship with the known gold mineralisation, which may provide a basis for the identification and drilling of additional mineralisation.

The location of the Company’s licence in a world-class mineral province together with known gold mineralisation, favourable host rocks and limited past exploration provides encouragement for additional discovery.

Gardner Range

The Gardner Range project comprises three exploration licences located approximately 130km southeast of Halls Creek, in the Birrindudu Basin region of Western Australia. Prior to the Company’s entry into the area the main recorded exploration was the discovery of uranium and rare earths at the Mt Mansbridge location. Results of 980ppm uranium and

Quantum Resources Limited June 2013 Quarterly Report

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Quantum Resources Limited ABN 84 006 690 348

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0.16ppm Au and 7% total rare earth elements were reported by BHP with the presence of xenotime noted within veined Killi Killi beds.

The main target model has been an unconformity-style system whereby basement sourced and fracture connected hydrothermal cells delivered metals in solution to the area of the Gardner Sandstone unconformity and flowed through into the sandstone host above the unconformity.

The Company completed airborne and ground geophysical surveys, rock sampling, ground radiometric measurements, MMI and conventional soil sampling to confirm previous findings, increase understanding of the hydrothermal system and to extend the zone of mineralisation where possible. The sample results together with factors such as a measured low zone of electrical conductivity and an enhanced radiometric response confirm the existence of a distinct hydrothermal cell in the Mt Mansbridge area.

One significant exploration implication of the Company’s mineralisation model is that elevated values of light rare earth elements in the Gardner Sandstone may indicate uranium and heavy rare earth elements at depth. This interpretation is suggested by the fact that mineralisation above the basal portion of the Gardner Sandstone records a decline in uranium and heavy rare earth elements with increasing distance from the exit point of the fluid pathway. The Company is continuing with its evaluation of whether to proceed with a program of drilling to conduct a preliminary assessment of grade and occurrence of mineralisation.

Tanami Project

The Company holds a single exploration licence (EL23150) in the Tanami region of the Northern Territory. The licence is an application located approximately 34km southwest of Newmont Mining’s underground Callie Gold Mine, which at the end of 2012 had 2.2 million ounces of gold reserves. The licence is managed by Newmont under a joint venture with the Company. Subsequent to the reporting period the Company received a Notice of Intent to Grant from the Department of Mines and Energy.

CORPORATE

The information in this report that relates to exploration results is based on information compiled by Dr DS Tyrwhitt who is a Fellow of the Australasian Institute of Mining and Metallurgy. Dr DS Tyrwhitt is a consulting geologist employed by DS Tyrwhitt & Associates Pty Ltd. Dr DS Tyrwhitt has 50 years experience in the industry and has more than 5 years experience which is relevant to the style of mineralisation being reported upon to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Dr Tyrwhitt consents to the inclusion in the report of the matters based on the information in the form and context to which it appears. Attached is a copy of the Company’s Mining Exploration Entity Quarterly Report in accordance with Listing Rule 5.3.

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J I GUTNICK Chairman & Managing Director 31 July 2013

Quantum Resources Limited June 2013 Quarterly Report

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Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10

Name of entity

QUANTUM RESOURCES LIMITED

	ABN 84 006 690 348 Consolidated statement of cash flows	ABN 84 006 690 348 Consolidated statement of cash flows	Quarter ended (“current quarter”) 30 JUNE 2013	Quarter ended (“current quarter”) 30 JUNE 2013
			30 JUNE 2013
Cash flows related to operating activities 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) administration 1.3 Dividends received 1.4 Interest and other items of a similar nature received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (GST credits) Net Operating Cash Flows		Current quarter $A’000		Year to date (12 months) $A’000
		‐ (1) ‐ ‐ (16) ‐ ‐ ‐ ‐ 4		‐ (39) ‐ ‐ (95) ‐ ‐ ‐ ‐ 21
		(13)		(113)
Cash flows related to investing activities 1.8 Payment for purchases of:(a) prospects (b) equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a) prospects (b) equity investments (c) other fixed assets 1.10 Loans from other entities 1.11 Loans repaid by other entities 1.12 Other (Security deposits) Net investing cash flows 1.13 Total operating and investing cash flows (carried forward)		‐ ‐ ‐ ‐ ‐ ‐ 10 ‐ ‐		‐ ‐ ‐ ‐ ‐ ‐ 98 ‐ 12
		10		110
		(3)		(3)

• See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 1

Appendix 5B Mining exploration entity quarterly report

Appendix 5B Mining exploration entity quarterly report
1.13 Total operating and investing cash flows (brought forward)	(3)	(3)
Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc. 1.15 Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other (provide details if material) Net financing cash flows	‐ ‐ ‐ ‐ ‐ ‐	‐ ‐ ‐ ‐ ‐ ‐
	‐	‐
Net increase (decrease) in cash held 1.20 Cash at beginning of quarter/year to date 1.21 Exchange rate adjustments to item 1.20 1.22 Cash at end of quarter	(3) 6 ‐	(3) 6 ‐
	3	3

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

1.23 1.24	Aggregate amount of payments to the parties included in item 1.2 Aggregate amount of loans to the parties included in item 1.10	Current quarter $A'000
		9
		‐
1.25	Explanation necessaryfor an understandingof the transactions
	-

Non‐cash financing and investing activities

2.1 2.2	Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
	‐
	Details of outlays made by other entities to establish or increase their share in projects in which the reportingentityhas an interest
	‐

• See chapter 19 for defined terms.

Appendix 5B Page 2

17/12/2010

Appendix 5B Mining exploration entity quarterly report

Financing facilities available

Add notes as necessary for an understanding of the position.

3.1 Loan facilities 3.2 Credit standby arrangements	Amount available $A’000	Amount used $A’000
	80	‐
	‐	‐

Estimated cash outflows for next quarter

4.1 Exploration and evaluation 4.2 Development 4.3 Production 4.4 Administration	$A’000
	40
	‐
	‐
	35
Total	75

Reconciliation of cash

Reconciliation of cash
Reconciliation of cash at the end of the quarter (as	Current quarter	Previous quarter
shown in the consolidated statement of cash flows)	$A’000	$A’000
to the related items in the accounts is as follows.
5.1 Cash on hand and at bank	3	6
5.2 Deposits at call	‐	‐
5.3 Bank overdraft	‐	‐
5.4 Other (provide details)	‐	‐
Total: cash at end of quarter(item 1.22)	3	6

Changes in interests in mining tenements

6.1 Interests in mining tenements relinquished, reduced or lapsed 6.2 Interests in mining tenements acquired or increased	Tenement reference	Nature of interest (note (2))	Interest at beginning ofquarter	Interest at end of quarter
	‐	‐	‐	‐
	‐	‐	‐	‐

• See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 3

Appendix 5B Mining exploration entity quarterly report

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

	Total number	Number quoted	Issue price per security (see note3) (cents)	Amount paid up per security (see note3) (cents)
7.1 Preference +securities 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy‐ backs, redemptions	NIL
7.3 +Ordinary securities 7.4 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy‐ backs	814,703,218	814,703,218
	‐ ‐	‐ ‐
7.5 +Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted	NIL
7.7 Options (description and conversion factor) 7.8 Issued during quarter 7.9 Exercised during quarter 7.10 Expired during quarter	‐	‐	‐	‐
	‐	‐	‐	‐
	‐	‐	‐	‐
	‐	‐	‐	‐
7.11 Debentures (totals only)	NIL
7.12 Unsecured notes(totals only)	NIL

• See chapter 19 for defined terms.

Appendix 5B Page 4

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Appendix 5B Mining exploration entity quarterly report

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).

• 2 This statement does give a true and fair view of the matters disclosed.

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Sign here: ............................................................ Date: 31 JULY 2013 Company Secretary

Print name: PETER LEE

Notes

• 1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

• 2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

• 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .

• 4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.

• 5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

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• See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 5