Nova Minerals Limited · ASX:NVA
Nova Minerals — Investor Presentation (October 2025)
38 slides from Nova Minerals's investor presentation, Oct 23, 2025
Slide 1: Developing a tier one gold asset and securing U.S. domestic antimony supply
Developing a tier one gold asset and securing U.S. domestic antimony supply For personal use only Company Update October 2025 NASDAQ: NVA | ASX: NVA www.novaminerals.com.au
Slide 2: Important Notices and Disclaimers
Important Notices and Disclaimers General This presentation has been prepared by Nova Minerals Ltd (ACN 006 690 348) (Company) based on information from its own- and Such factors include, among others, the actual market price of commodities, the actual results of future exploration, changes in third
Slide 3: Investment Highlights
Investment Highlights Rapidly advancing word class U.S. gold and antimony assets towards production Estelle Project: District Scale 514km2 with Team to deliver Dual Assets on the One U.S. Project (85% Owned) For personal use only Infrastructure solutions Antimony: Fast-tracking production to develop
Slide 4: Estelle Project - Gold and Antimony in Alaska
Estelle Project - Gold and Antimony in Alaska District scale 514km2 with gold and antimony assets within the one U.S. project Antimony-Gold prospect Priority Antimony-Gold area For personal use only Gold prospect Priority Gold area Stibium Korbel RPM Styx ASX Announcements: Gold: 11 October 2021 & 2
Slide 5: Estelle Project - Precious and Strategic Minerals
Estelle Project - Precious and Strategic Minerals Macro-economic drivers - Right place, right time, with the right commodities Gold – Precious mineral near all time highs Antimony – Strategic with no U.S. supply For personal use only › Central bank purchases › Strategically important critical minera
Slide 6: Antimony Assets
Estelle’s Antimony Assets For personal use only Fast-tracking production to develop the U.S.’s first fully domestic integrated antimony supply chain
Slide 7: Antimony Assets
Estelle’s Antimony Assets Identified as 1 of 9 globally, and 1 of 2 in the U.S. with near term production potential Antimony-Gold prospect For personal use only Priority Antimony-Gold area Stibium Shoeshine Stoney Train T5 Trumpet Estelle’s Antimony Assets › 7 antimony-gold prospects › High-grade su
Slide 8: Antimony Assets - Stibium
Estelle’s Antimony Assets - Stibium High-grade gold & antimony in close proximity to the Korbel & the camp Stibium Stand Alone Antimony-Gold Starter Mine N › High-grade antimony and For personal use only • Quick start up gold with 16 samples > 5 • Low CAPEX g/t Au up to 141 g/t Au • Small footprint/
Slide 9: Antimony Assets - Styx
Estelle’s Antimony Assets - Styx High-grade antimony outcrop › High-grade antimony and gold with 5 For personal use only samples > 1 g/t Au up to 9.8 g/t Au and 9 samples > 1% Sb up to 54.1% Sb › The main Styx occurrence is a >1m thick quartz-stibnite vein (up to 50% stibnite) Sample E406941: 54.1%
Slide 10: Antimony Assets – Phase 1 US$43.4M award
Estelle’s Antimony Assets – Phase 1 US$43.4M one of the largest recent U.S. govt awards to secure domestic critical minerals supply Primary focus to produce military-spec antimony For personal use only The funding will support multiple critical project phases from mining to refining including: › Res
Slide 11: Antimony Assets – Key milestones
Estelle’s Antimony Assets – Phase 1 Key milestones – Many achieved already US$43.4M U.S. Dept of War Award Conceptual plant design and flowsheet For personal use only Commence resource definition drilling Establish antimony MRE Commence surface antimony ore stock piling Mine and process equipment pr
Slide 12: Antimony Assets – Refinery Site Land Secured
Estelle’s Antimony Assets – Refinery Site Land Secured Sole emerging fully integrated antimony producer with land secured in an industrial zone 42.81 acres secured for downstream refinery with land permitted for a commercial operation of a U.S. Critical Minerals Production Hub For personal use only
Slide 13: High Level Conceptual Antimony Flowsheet
High Level Conceptual Antimony Flowsheet Process flowsheet developed for high recovery, high purity antimony For personal use only
Slide 14: Proposed integrated U.S. domestic antimony supply chain
Estelle’s Antimony Assets – Phase 2 Proposed fully secured and integrated U.S. domestic antimony supply chain based in Alaska Feedstock Feedstock Estelle Project from existing mines from historical reclamations Out of state feedstock For personal use only Concentrator for Refinery Feedstock West Sus
Slide 15: Antimony Assets - Conceptual Timeline
Estelle’s Antimony Assets - Conceptual Timeline Phase 1 antimony starter mine to produce military-spec antimony for the DoW For personal use only
Slide 16: Antimony Macros
Antimony Macros Estelle’s antimony will help address specific vulnerabilities in the U.S. supply chain The Estelle project represents the first fully domestic antimony supply chain in decades, reducing U.S. For personal use only vulnerability to supply disruptions Factor Current Status Projected Imp
Slide 17: Antimony Uses (USGS)
Antimony Uses (USGS) The Most Important Critical Mineral You have Never Heard Of (Munitions, night vision goggles, Key properties - heat (Smart phone screens, camera explosives, communication For personal use only and flame resistance, lenses, binoculars, energy equipment) efficient windows) anti-co
Slide 18: Gold Assets
Estelle’s Gold Assets For personal use only Rapidly advancing one of the world’s largest undeveloped gold assets, aiming to become a tier- one, global gold producer
Slide 19: Gold Assets
Estelle’s Gold Assets One of the largest undeveloped gold deposits globally Gold prospect For personal use only Priority Gold area Stibium Shadow Muddy Creek Shoeshine Wombat Korbel Tomahawk Stoney Discovery Train Korbel Main, T5 Cathedral, Trumpet Isabella, Sweet NK Jenny, You Portage Trundle Rainy
Slide 20: Gold Assets - Staged Development Options
Estelle’s Gold Assets- Staged Development - Staged Options Development Options 1. RPM starter mine with regional expansion – High-grade resource starter pit For personal use only Geological indications show all 3 areas are potentially RPM genetically linked South RPM RPM Valley North ` RPM Starter P
Slide 21: Gold Assets - RPM
Estelle’s Gold Assets - RPM High-grade core with mineralization extending from surface and remains open › RPMRC-24017 29m @ 7.1 g/t Au 115 holes, ~27,000m drilled From surface Incl: 22m @ 9.4 g/t Au RPM South to date – 13,200m not in 3m @ 32.2 g/t Au RPM-057 211m @ 3.2 g/t Au For personal use only 2
Slide 22: Gold Assets – RPM Upside
Estelle’s Gold Assets – RPM Upside Glacial debris lobe averaging 1.1 g/t Au over 1.7km in till samples For personal use only Test drilled in 2025 and awaiting assays
Slide 23: Gold Assets - Staged Development Options: Expanded project
Estelle’s Gold Assets - Staged Development Options 2. Expanded project – Korbel + RPM + Regional - Scalable with decades of potential pipeline For personal use only Korbel Main and Cathedral 550m apart with the potential to be genetically linked Potential Gold Processing Plant Expanded Project – Kor
Slide 24: Gold Assets - Korbel
Estelle’s Gold Assets - Korbel Bulk tonnage gold with low strip amenable to large scale selective mining › 228 holes, ~70,000m drilled to date. Awaiting assays from14 shallow holes from 2025 drilling For personal use only › Low strip ratio 0.76:1 KBDH-072 308m @ 0.7 g/t Au from surface Incl: › Miner
Slide 25: Estelle Proven & Robust Flowsheet
Estelle Proven & Robust Flowsheet Simple metallurgy for easy gold liberation - A big cost differentiator Further improvements being tested as part of the current FS level studies For personal use only Key: Current flow sheet from the scoping study Conceptual additions to the flow sheet currently bei
Slide 26: Gold Assets - Conceptual Timeline
Estelle’s Gold Assets - Conceptual Timeline Significant value upside as the project continues to de-risk For personal use only
Slide 27: Estelle Regional Expansion Potential > Prospects
Estelle Regional Expansion Potential > 20 Prospects To Date < 5% of the 514km2 property has been explored 35km long mineralized intrusive corridor Nova’s Low- Cost Gold, and highly elevated concentrations of Silver, Copper, For personal use only Pathfinder Antimony and Other Critical Minerals have a
Slide 28: Estelle Infrastructure Solutions
Estelle Infrastructure Solutions Located on State of Alaska public lands close to Anchorage Location Anchorage › State of Alaska public lands, 150km northwest of Anchorage Willow Airstrip Port Mackenzie Anchorage › 35km long mineralized corridor on 514km2 of State of Alaska Mining claims For persona
Slide 29: Board of Directors
Board of Directors Team with the experience to get Estelle into production For personal use only Richard Beazley Christopher Gerteisen Louie Simens Non-Executive Chairman Executive Director & CEO Executive Director & COO Internationally experienced mining Over 30 years' experience Over 20 years’ exp
Slide 30: Technical Team
Technical Team Industry-leading team of over 50 consultants powering Estelle’s path to production Hans Hoffman General Manager For personal use only Professional Geologist with 20 years experience developing, conducting, and managing geotechnical engineering and mineral exploration projects primaril
Slide 31: Technical Team - Continued
Technical Team - Continued Industry-leading team of over 50 consultants powering Estelle’s path to production Metallurgy Processing METS Engineering has over 30 years of experience providing specialist engineering services and innovative solutions to the mining and For personal use only mineral proc
Slide 32: Creating Long-Term Value for All Stakeholders
Creating Long-Term Value for All Stakeholders Established a Social Licence To Operate • Hire and Buy Alaskan - we strive to offer support through prioritising For personal use only local employment and local procurement with our “Hire & Buy Alaskan” policy. • Support Local Communities – Nova has est
Slide 33: Corporate Overview
Corporate Overview (As of 22 October 2025 in USD unless noted) Capital Structure Share Structure Shares on Issue1 410,429,177 Board & Mgmt. Top 20 – 61% For personal use only 5% Top 50 – 70% NASDAQ Listed Warrants2 (Exp 25/7/29 @ Strategic & Institutions 173,625 29% US$7.266) Balance of Register Unl
Slide 34: Estelle Project – Upcoming Catalysts
Estelle Project – Upcoming Catalysts Unlocking gold and antimony value at Estelle Antimony refinery project updates For personal use only 2025 drill and sampling program results Mineral Resource Estimate (MRE) update Metallurgical and technical study results Mine and infrastructure permitting Feasib
Slide 35: Nova's Value Drivers
Nova’s Value Drivers Favourable jurisdiction and tenure - All on State of Alaska lands (No federal or native lands) For personal use only Upcoming worldclass gold and antimony producer – Favourable macros Experienced CEO and management team One of the world’s largest undeveloped gold projects Open p
Slide 36: Follow Us
Follow Us For personal use only Nova Minerals Limited T: +61 3 9537 1238 E: info@novaminerals.com.au W: www.novaminerals.com.au Main Operations Office Whiskey Bravo Airstrip Suite 5 Matanuska-Susitna Borough, 242 Hawthorn Road Alaska, USA Caulfield 1150 S Colony Way Suite 3-440, Victoria 3161 Palmer
Slide 37: Appendix 1: Mineral Resource Estimates (MRE)
Appendix 1: Mineral Resource Estimates (MRE) JORC Compliant Global MRE • High confidence, conservative Global MRE 9.9 Moz – April 2023 • Currently excludes ~13,200 of drilling undertaken in 2024 and 2025 For personal use only • Includes a super high-grade zone of 180 Koz @ 4.1 g/t Au Measured • Base
Slide 38: Appendix 1: Mineral Resource Estimates (MRE)
Appendix 1: Mineral Resource Estimates (MRE) JORC and S-K 1300 Compliant Economic Pit Constrained MRE for the Estelle Gold Project For personal use only 1. A mineral resource is defined as a concentration or occurrence of material of economic interest in or on the Earth’s crust in such form, grade o