High-Grade Intercepts From Drilling Program At Estelle Gold Project

ANCHORAGE - Nova Minerals Limited reported high-grade thick intercepts from the final six holes of the 21 hole reverse circulation (RC) drilling program conducted in the RPM starter pit area in 2024, within its over 500km2 flagship Estelle Gold Project, located in the Tintina Gold Belt in Alaska. The shallow drilling program was focused on near surface mineralization <50m in depth in support of the RPM starter mine PFS currently underway.

The 2024 drilling extends the high-grade core zone at RPM to surface with over 20 significant broad intercepts grading > 5 g/t Au and a high of 52.7 g/t Au. The resource update including 2023 and 2024 drill results underway. High-grade gold intersections targeting near surface mineralization above the current high-grade Measured and Indicated core continue at RPM North with all holes ending in mineralization. Significant results include.

Assay results from all 21 holes from the 2024 resource drilling program at RPM North have now all been received and reported extending the high-grade core zone at RPM to surface. Resource update including both the 2023 and 2024 drill results is now underway. Assay results from the over 500 soil and 225 rock samples collected as part of the extensive 2024 surface exploration and mapping program targeting gold, antimony and other critical minerals from traverses at Stibium, Wombat, West Wing, Stoney, Muddy Creek, RPM, Styx, and the new claims added in 2023, will be reported by area once received and processed.

RPM starter mine Pre-Feasibility Study (PFS), and updated economic study of the Estelle wide project in progress, with the aim to commence with a smaller scale, low capex, high-margin starter mine at RPM as soon as possible, which we believe will provide cash flow to fund the expansion of the larger Estelle project organically.

CEO, Christopher Gerteisen, said, “The 2024 drill results have confirmed a broad zone of high-grade mineralization starting at surface at RPM North. This should prove positive for our upcoming studies focused on executing our current strategy to fast track development of RPM as a scale-able low capex/high margin starter operation that we believe will generate the cash flow to facilitate future mine expansion plans and further unlock the larger Estelle Project which remains one of the largest undeveloped gold projects in the world, with significant upside remaining with gold, antimony, copper, silver, and other critical elements. These latest results of high-grade mineralization will be included in the upcoming MRE and PFS, which we look forward to providing to our shareholders in due course.”