Nova Minerals sells non-core investment in Snow Lake Resources for $6.73M

Nova Minerals (NVA) announced developments to add cash to the company’s balance sheet for its 2025 field season, and strengthen its financial position and strategic focus. The company has completed the sale of the 6.6 million shares which it owned in Snow Lake Resources, realizing gross proceeds of $6.73M. This divestment aligns with the objective to advance the gold and antimony assets within the Estelle Gold and Critical Minerals Project. $4M of the proceeds has been allocated to reduce the Nebari loan, leaving just $1.42M of the facility on the balance sheet. The remaining proceeds from the sale will be directed towards advancing exploration and development activities at the company’s Estelle Gold and Critical Minerals Project, in Alaska. The funding is intended to enable the acceleration of development programs, with a focus on RPM and the numerous antimony prospects. The company also exercised 109,237 warrants over the last few months, which has brought in additional cash funding of approximately $0.79M.