Ann: Positive Lithium Test Work Validates Commercial Potential, page-3

THOMPSON BROTHERS LITHIUM PROJECT: TEST WORK CONFIRMS POTENTIAL TO PRODUCE HIGH-QUALITY, HIGH-VALUE PRODUCTS The directors of Nova Minerals Limited (Nova or Company) (ASX: NVA, FSE: QM3) are pleased to advise that its plans to fast-track the evaluation and development of its Thompson Brother Lithium Project, located in the snow lake region of Manitoba, have received an important boost following receipt of highly encouraging metallurgical test work completed by the Saskatchewan Research Council (SRC). The objective of the program was to produce a spodumene mineral concentrate applying a simple series of rougher flotation and cleaner flotation test work. Initial metallurgical test work demonstrates the project can produce a concentrate material of 6.37% Li2O using standard metallurgical laboratory test techniques. The samples were supplied to SRC for this initial metallurgical test work program. The submitted samples consisted of spodumene bearing (1.4 % Li2O) composite of drill core reject material. Experienced personnel at SRC under the supervision of Dr. Jack Zhang, the Principal Engineer, Mineral Processing and Hydrometallurgy, conducted the test-work. Nova will now proceed with a mini-bulk sample study on the main Thompson Brothers Lithium zone this summer to further advance and optimise metallurgical test work. The company also plans to provide TOMRA Sorting Solutions initial samples to carry out further ore sorting trials and test work with the aim in minimising the amount of material needing to be processed. Subject to successful trials, ore sorting has the potential to further optimise the economics of the project with an increase in productivity, reducing costs and environmental impact.