Ann: Estelle Drill Permits Received and Lithium Jorc Update, page-2

JORC UPDATE The directors of Nova Minerals Limited (Nova or Company) (ASX: NVA, FSE: QM3) are pleased to provide an update on the Estelle gold-copper project located in Alaska, USA and the Thompson Bros. Lithium project located in Manitoba, Canada. ESTELLE GOLD-COPPER PROJECT, ALASKA USA Nova has received all necessary regulatory permit(s), environmental and other necessary approvals from the Alaska Department of Natural Resources (DNR) and other agencies to commence exploration drilling on the Estelle project, Oxide prospect for up to 12,000 metres of drilling. The 114km2 Estelle landholding sits adjacent to the 6.3Moz Au, 28.7Moz Ag, 480kt Cu Whistler project (Gold Mining Inc.) and is in the same assemblage of rocks that hosts Northern Dynasty’s giant Pebble copper-gold- molybdenum-silver deposit (70Moz Au, 3.4b lb Mo, 344Moz Ag). Despite minor delays, it is anticipated exploration drilling at Oxide will commence within 4 weeks. The project team has commenced logistical activities in preparation for delivery of the drill rig and mobilisation to site as soon as possible. Nova is anticipating drilling at least 8,000 metres over a 6 to 8 week exploration program where the Company has already established 1.1Moz Au to 2.3Moz Au exploration target on less than 1% of the Estelle project (refer to ASX announcement 26 February 2018). The exploration target was defined over a strike length of 740 metres from historical drilling results (Figure 1); the upcoming drilling program has been designed to explore at least three times the exploration target area. The drilling will also enable Nova to delineate a maiden JORC resource targeted for end-2018. The first twenty drill holes of the program (Phase 1) will concentrate on testing potential high grade mineralisation within the high IP chargeability zone to the south of the exploration target (Figure 1) and drilling the exploration target zone in excess of 900 metres along the same NW trending strike. Figure 2 shows a map of the proposed first pass drill hole collar locations and projected hole cross-section with 72,000 Hz aerial coplanar resistivity imagery (warmer colours showing EM target zones), hill shade digitial terrain and contours.