Nova Minerals Ltd: Commissions Prep Lab at The Estelle Gold Project

Melbourne, Australia - Nova Minerals Ltd. (ASX:NVA) (FRA:QM3) (OTCMKTS:NVAAF) is pleased to announce that its sample crushing preparation laboratory based at the Estelle Gold Project (Figures 1 and 2*) has now been commissioned and is fully operational.

- Onsite sample preparation lab fully operational at the 4.7Moz Estelle Gold Project

- Capacity to process up to 7,500 samples per month

- On-site lab is expected to reduce costs and improve assay turnaround times.

- Aggressive Infill and Extension drilling are ongoing at Korbel Main, currently focused on higher grade SE zone with the goal of substantially increasing the 4.7Moz Resource (ASX 7 April 2021) and upgrading the resource in size and confidence to expedite Project Feasibility Studies.

- Korbel Main PFS metallurgical test work now underway

- Fifth drill expected onsite in coming weeks to ramp up both Korbel and RPM drilling

- Field reconnaissance to commence shortly to unlock further targets across the Estelle Gold district

- Early indications show RPM prospect drilling intersecting wide zones of mineralization

- Assay results pending for over 10,000m of drilling from both Korbel Main and RPM currently at the Lab

- Snow Lake Resources Ltd. update due shortly

In 2020, Nova made the decision to construct its own sample preparation lab to combat the long delays occurring in the laboratories globally. The bility to prepare samples ready for pulverising and assay will decrease the turnaround and will also afford Nova the flexibility to send the samples straight to Reno or Vancouver for pulverisation thereby bypassing Fairbanks for crushing. As sample lengths are an average of 3 metres, Nova's commercial preparation laboratories (aka ASL or TSL) were finding that crushing these larger samples to be time consuming, thereby causing a major bottleneck in the sample preparation process. By Nova completing crushing on site, it is expected that assay result turnaround times will be significantly improved.

In line with Nova's strict QA/QC procedures, Nova has elected to retain an independent contractor to operate the lab, to maintain independence of results from all drill programs. The outsourcing of this work also ensures a supply of well-trained staff, experienced in the preparation of samples for assay.

The lab is equipped to process up to 7,500 samples per month. As the drill season is now in full swing with the drilling programs ramping up accordingly, the lab will be able to concentrate on fast tracking samples as they come through the core logging facility.

NVA CEO, Mr. Christopher Gerteisen commented: "As we continue to advance and increase the Korbel Main deposit both in size and confidence, hoping to release a resource update and a maiden resource for RPM in Q4, this purpose-built sample preparation laboratory on site will reduce costs significantly. It will improve assay turnaround times to release these mineral resource estimates much faster, allowing us to focus on completing the Scoping Study.

The regional recon exploration teams are now being mobilised to continue to advance the other high-priority targets across the project area as part of our mission to unlock the district and develop a pipeline of deposits.

Please note, an additional diamond drill rig has also now been ordered as we plan to ramp things up considerably. We expect this rig to be mobilised and start turning in the coming months. Drilling related news and results will continue to flow throughout 2021 and beyond."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/GB49W3SD

About Nova Minerals Ltd:

Nova Minerals Ltd. (ASX:NVA) (FRA:QM3) (OTCMKTS:NVAAF) is a dynamic explorer and developer of its flagship Estelle Gold district in the Tintina gold belt. Nova's strategy is to substantially increase the current 4.7Moz resource on the Korbel prospect. Subsequently to continue to lock in value through moving Korbel towards production whilst increasing the resource base across the pipeline of targets within the Estelle gold district. Nova Minerals also holds strategic investments in Snow Lake Resources Ltd (Thompson Brothers Lithium Project), Torian Resources Ltd. (ASX:TNR) and RotorX Aircraft Manufacturing Co.

Source:
Nova Minerals Ltd.

Contact:

Nova Minerals Ltd. P: +61-3-9614-0600 F: +61-3-9614-0550 WWW: novaminerals.com.au