Nova Minerals provides quarterly activities report

Highlights: Estelle Gold Project: During the quarter Nova commenced and completed its 2024 Estelle drilling and surface exploration programs, with initial results received back from the laboratory in early October and more incoming. High-Grade Gold Continues at RPM: The 2024 drill program, which comprised of 21 holes and used the Company owned Reverse Circulation rig to keep costs to a minimum, was a highly targeted program focused on Pre-Feasibility stage drilling at the high-grade RPM deposit to continue to increase and prove-up resources to the higher confidence Measured and Indicated categories. The majority of the shallow drilling was allocated to advance the high-grade RPM starter pit area and to further delineate the at-surface, high-grade zone encountered there during the 2022-2023 drilling, while upgrading inferred resources and testing for potential near surface extensions of the high-grade gold system to the south and west. Initial results received in early October for the first 8 holes confirmed continuity of the near surface high-grade mineralization at RPM North with multiple broad intersections grading greater than 5 g/t Au from surface and sample interval grades up to 39 g/t Au. All holes ended in mineralization with highlight results including: RPMRC-24005: 43m @ 4.4 g/t Au from 2m, including 13m @ 10.7 g/t Au from 2m and 2m @ 39.2 g/t Au from 13m. RPMRC-24008: 45m @ 3.4 g/t Au from surface, including 131m @ 4.7 g/t Au from 3m and 8m @ 10.5 g/t Au from 22m. Extensive surface exploration sampling program was conducted around the wider RPM area to potentially extend existing and delineate additional high-grade mineralized zones, with results expected back in October. Antimony Discoveries Advanced: Stibium: Extensive surface exploration sampling program conducted at Stibium to follow up on the high-grade up to 60.5% Sb discovered in 2023 with results expected back in October. Massive stibnite, the primary ore mineral for antimony containing approximately 72% Sb, observed to be widespread in surface mapping and sampling at Stibium. 2,500kg bulk sample of a greater than2m wide quartz breccia vein ,where sample E408569 from 2023 returned 12.7 g/t Au and 2.1% Sb, collected at Stibium for metallurgical test work. Styx: Extensive surface exploration sampling program conducted at Syx to follow up on the high-grade up to 21.7% Sb discovered in 2023 with results expected back in October. Large vein containing massive stibnite in outcrop discovered at Styx; 500kg bulk sample of potential antimonious material containing stibnite collected from Styx for metallurgical test work. Test work to develop a process flow sheet and plant design in anticipation of a fast track standalone antimony production scenario at Stibium. Nova has submitted a proposal to the US Dept. Of Defense for potential grant funding to fast track Estelle’s antimony production. Nova CEO Christopher Gerteisen, at the invitation of the US Dept. of Defense, attended another DoD related conference in September to discuss Estelle’s near-term antimony production potential and illustrate how Nova could potentially help the US establish and fully secure domestic critical minerals supply chains. Another Extensive Surface Sampling Exploration Program Completed in 2024: 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, Muddy Creek, RPM, Styx, and the new claims added in 2023. Assay results, which will be reported by area once received and processed, are expected back in October and November. Estelle Staged Development Optionality: Estelle is a major mineralized trend, hosting gold, antimony, silver, copper, and other critical elements and Nova is working to begin production as early as possible with the potential to operate for decades supplying the minerals the world needs. The Pre-Feasibility Study currently underway is considering a strategy to achieve production as soon as possible with a scalable operation, subject to market conditions and strategic partners, by; Establishing an initial lower capex smaller scale operation at the high-grade RPM deposit for potential near term cashflow at high margins to self-fund expansion plans; and/or Develop the higher capex larger mining operation with increased gold production, cash flow, and mine life, which is of interest to potential future large gold company strategic partners. With China announcing export restrictions on antimony, the Company is also investigating the possibility to fast track the Stibium gold-antimony prospect development option with potential US Dept. of Defense support. Environmental studies progressing and Lidar survey completed for detailed technical studies, infrastructure, and access road design.