Nova Minerals Limited (Nasdaq NVA, NVAWW) (ASX: NVA), (OTC: NVAAF)(FSE: QM3) a gold and critical minerals exploration stage company focused on advancing the Estelle Gold Project in Alaska, U.S.A., today announced the closing of its underwritten public offering of 475,000 units, with each unit consisting of one American Depositary Share representing ordinary shares and one warrant, with an ADS-to-ordinary-share ratio of 1 to 60, at a price to the public of $6.92 per unit, for gross proceeds of approximately $3,287,000, before deducting underwriting discounts and offering expenses. Each whole warrant is exercisable for one ADS at an exercise price of $7.266 per ADS, and will be immediately exercisable upon issuance for a period of five years following the date of issuance. In addition, Nova has granted the underwriters an option to purchase up to an additional 47,500 ADSs and/or an additional 47,500 warrants to cover over-allotments, if any until August 29, 2024. The offering also included the purchase by the underwriters of 47,500 warrants in connection with the partial exercise by the underwriters of their over-allotment option.

The Company intends to use the proceeds for resource and exploration field programs, feasibility studies, and general working capital.

ThinkEquity acted as sole book-running manager for the offering.

A registration statement on Form F-1 (File No. 333-278695) relating to the public offering was filed with the Securities and Exchange Commission (“SEC”) and became effective on July 23, 2024. This offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained from ThinkEquity, 17 State Street, 41^st Floor, New York, New York 10004.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Nova Minerals Limited

Nova Minerals Limited is a gold and critical minerals exploration stage company, focused on advancing its flagship Estelle Gold Project, or the Project, located in Alaska, U.S.A. The Estelle Gold Project, which is 85% owned by Nova, contains multiple mining complexes across a 35km long mineralized corridor of over 20 identified gold prospects, including two already defined multi-million ounce resources across four deposits. The Project is comprised of 513km2 of unpatented mining claims located on State of Alaska public lands, and is situated in Alaska’s Tintina Gold Belt, a province which hosts a 220 million ounce documented gold endowment and some of the world’s largest gold mines and discoveries.