Higher-Grade Starter Pit Potential Within Pit-Constrained Korbel Gold Deposit

ANCHORAGE, AK – Nova Minerals Limited reported on shallow reverse circulation drilling results within a proposed starter pit at the Korbel Main Deposit within the Estelle Gold and Critical Minerals Project, located in the prolific Tintina Gold Belt in Alaska.
2025 shallow RC drilling defines a near-surface higher-grade core at the bulk-tonnage Korbel Main Deposit, with grades up to 1.2 g/t Au. Results indicate a pilot starter pit approximately 250m long by 80m wide may be suitable within Korbel Main, with drilling identifying a higher-grade core within its bulk-tonnage pit-constrained resource of 275 Mt @ 0.3 g/t Au for 2.70 Moz Au. Korbel Main forms part of the broader Korbel Gold Deposit, which includes the Cathedral Deposit, currently hosting a pit-constrained 1.35 Moz Au resource (150 Mt @ 0.3 g/t Au).
While RC drilling is significantly shallower than diamond core drilling, with average hole depth ~20m, the results highlight the potential for a pilot pit to further test ore sorting, building on previous work where 0.4 g/t Au material was successfully upgraded to over 6 g/t Au – more than a tenfold increase – potentially reducing processing costs and increasing mine production.
CEO, Christopher Gerteisen, said, “We are pleased with the 2025 RC drilling results at Korbel Main, which have defined a near-surface, higher-grade core. The results highlight the potential for a pilot starter pit within Korbel Main’s 2.7 Moz bulk-tonnage pit-constrained resource and demonstrate strong potential to test ore sorting on a larger scale, building on previous work where material was upgraded more than tenfold, potentially lowering processing costs and increasing gold production.”