NOVA MINERALS LTD NEW - NVAAF STOCK NEWS

Nova Minerals (NASDAQ: NVA) has engaged Whittle Consulting for optimization of its upcoming project-wide economic studies and focused RPM starter mine Feasibility Study within its Estelle Gold Project in Alaska. Whittle has agreed to take ~18% of their consulting fees in Nova ordinary shares. The optimization aims to establish the potential for an early small-scale operation at Estelle to produce revenue from near-surface high-grade areas with minimum capital cost and time to permit.

The company is considering a strategy to achieve production with a scalable operation by: 1) Establishing an initial lower capex smaller scale operation at the high-grade RPM deposit, 2) Developing a higher capex larger mining operation, and 3) Advancing the Stibium Antimony-Gold Prospect as an additional small-scale, stand-alone, quick startup cash flow opportunity. Nova is targeting to publish an optimized economic study and Feasibility Study in 2025.

Nova Minerals (NASDAQ: NVA) (ASX: NVA) (FRA: QM3) is hosting an exclusive live investor webinar and Q&A session on October 7, 2024, at 4:15 p.m. ET. The event, hosted by RedChip Companies, will feature CEO Christopher Gerteisen discussing the company's flagship Estelle Gold Project in Alaska. Nova Minerals holds a growing multi-million-ounce gold resource in a region known for Tier 1 gold deposits. The company currently trades at A$6 per ounce of gold on an enterprise value basis, significantly below the sector average of A$70/oz.

Gerteisen will also address near-term opportunities with antimony, as Nova aims to become a key supplier to the U.S. market, addressing global supply chain constraints. Investors can register for the free webinar and submit questions in advance or during the live event.

Nova Minerals (NASDAQ: NVA) (ASX: NVA) (FRA: QM3) is hosting two virtual investor presentations to accommodate different time zones. CEO Christopher Gerteisen will present an outline of the Estelle Project, discussing development options, exploration strategy, and the path towards production.

The webinars are scheduled for:

• US/European Time Zone: 9:00 AM EST, Thursday, September 26, 2024
• Australasian Time Zone: 11:00 AM AEST, Tuesday, October 1, 2024

Both events will include a Q&A session. Attendees can submit questions in advance or during the live presentations. A PDF of the presentation will be available, and an archived webcast will be posted on the company's website for those unable to attend live.

Nova Minerals (Nasdaq: NVA, NVAWW; ASX: NVA; FRA: QM3) has closed its underwritten public offering of 473,000 American Depositary Shares (ADS) at $5.00 per ADS, including 43,000 ADSs from the full exercise of the underwriter's over-allotment option. The offering raised aggregate gross proceeds of $2,365,000 before deducting underwriting discounts and expenses. Nova, an exploration stage company focused on the Estelle Gold Project in Alaska, plans to use the proceeds for resource and exploration field programs, including additional drilling, exploration, feasibility studies, and general working capital. ThinkEquity acted as the sole book-running manager for the offering, which was conducted through a registration statement on Form F-1 filed with the SEC.

Nova Minerals (Nasdaq: NVA, ASX: NVA), a gold and critical minerals exploration company, has announced the pricing of an underwritten public offering of 430,000 American Depository Shares (ADS) at $5.00 per ADS. This offering is expected to generate gross proceeds of $2,150,000 before deducting underwriting discounts and expenses. Nova has also granted underwriters a 45-day option to purchase up to an additional 43,000 ADSs to cover over-allotments.

The company plans to use the proceeds for resource and exploration field programs, including additional drilling and exploration, feasibility studies, and general working capital. The offering is set to close on September 25, 2024, subject to customary closing conditions. ThinkEquity is acting as the sole book-running manager for this offering.

Nova Minerals (NASDAQ: NVA) (ASX: NVA) (FRA: QM3), a gold and critical minerals exploration company, has filed a registration statement on Form F-1 with the SEC for a secondary public offering of American Depositary Shares (ADSs) in the United States. Each ADS will represent 60 ordinary shares. The offering's size and price are yet to be determined, with an assumed price of US$6.53 per ADS based on the September 16, 2924 sale price on Nasdaq.

The offering is subject to market conditions and will be conducted within ASX listing rules 7.1 and 7.1a. Proceeds will fund resource and exploration programs, including drilling, feasibility studies, and working capital. ThinkEquity is the sole book-running manager. The company's ordinary shares will continue trading on ASX, OTC Pink, and Frankfurt Stock Exchange, while ADSs and warrants will remain on Nasdaq.

Nova Minerals (NASDAQ: NVA) has executed a variation agreement with Nebari Gold Fund 1, LP, its largest institutional shareholder and convertible note holder. The agreement reduces the month-end cash covenant from US$2m to A$1m and offers an option to extend the convertible facility by 12 months to November 29, 2026. This frees up approximately A$2m, allowing Nova to accelerate the RPM early start-up option to a Feasibility Study (FS) for delivery in 2025.

The company is exploring routes to develop the RPM gold deposit, aiming for a lower capex, high-margin, scalable project to generate early cash flow. Nova is also in advanced discussions with the US Department of Defense regarding a potential starter antimony operation at Stibium. The variation agreement amends the conversion price from A$0.53 to A$0.25, subject to shareholder approval.

Nova Minerals (NASDAQ: NVA) has collected bulk antimony samples from its Estelle Gold-Antimony Project in Alaska for metallurgical testing. The company gathered 2,500kg from Stibium and 500kg from Styx prospects to develop a process flow sheet and plant design for a potential fast-track antimony production scenario. Nova has submitted a proposal to the US Department of Defense for grant funding to accelerate antimony production at Estelle.

CEO Christopher Gerteisen highlighted the significance of these antimony discoveries, especially in light of China's recent export restrictions. Nova sees an opportunity to supply antimony to the US domestic market in the near term. The company is working with METS Engineering and the University of Alaska-Fairbanks CORE-CM group for test work and studies. Additional rock and soil samples have been sent for analysis, with results expected soon.

Nova Minerals (NASDAQ: NVA) has provided an update on its Estelle Gold-Antimony Project in Alaska. The company is progressing with its Feasibility Study (FS), considering two development options: a smaller-scale operation at the high-grade RPM deposit for potential near-term cashflow, and a larger mining operation for increased gold production. Nova is also exploring the possibility to fast-track the Stibium gold-antimony prospect with potential US Department of Defense support, following China's export restrictions on antimony.

At RPM, 11 drill holes have been completed to date, targeting near-surface high-grade inferred material. The Stibium prospect continues to impress, with extensive surface sampling underway and several tons of bulk samples being collected for metallurgical testing. Nova has also staked approximately 1km² of additional claims at Stibium.