Nova Minerals Announces Korbel Floatation Test-work Produces High-Grade Gold Concentrate up to 26.7 g/t Au with Consistent Recoveries Exceeding 95%

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Anchorage, Alaska, June 29, 2026 (GLOBE NEWSWIRE) -- Nova Minerals Corp (“Nova Minerals” or the “Company”) (NYSE American: NVA | ASX: NVA) is pleased to report results from bench-scale rougher flotation testing on low-grade Korbel ore, undertaken within a broader Feasibility Study (FS) level metallurgical test-work program. Flotation of low-grade Korbel ore at a coarser-than-conventional grind size has the potential to materially reduce both capital and operating costs while maintaining strong gold recovery.Highlights>95% Gold Recovery: Low-grade Korbel ore (0.39–0.42 g/t Au) delivered a strong flotation response at 250 µm or finer, producing a low-mass pull of only 2-3% (meaning a 97-98% reduction in the volume going to downstream processing), and a high-grade concentrate of 14.7–26.7 g/t Au (Table 1).Significant Potential FS Value Upside: Application of coarse particle flotation to the bulk tonnage S-K 1300 compliant pit constrained 425 Mt @ 0.3 g/t Au (4.05 Moz Au) Korbel resource (Table 4) is expected to enhance Estelle’s FS outcomes by upgrading low-grade ore, reducing processing intensity, lowering energy use, improving gold recovery, and simplifying the flowsheet (Figure 2) by potentially eliminating ore sorting and heap leach requirements and allowing a significantly smaller Carbon-in-Leach (CIL) plant.Ongoing PFS Optimization: Korbel CIL test-work and further coarse particle flotation studies are underway to refine the flowsheet, confirm high gold recovery and gangue rejection, and optimize plant design, scale, configuration, and overall project economics.Nova Minerals CEO, Mr. Christopher Gerteisen, commented: “As part of our ongoing Feasibility Study optimization work, these results represent a major breakthrough in our metallurgical test program. The demonstration that Korbel ore is highly amenable to coarse particle flotation, producing a very high-grade concentrate representing only 2-3% of the total mass while achieving gold recoveries in excess of 90%, has the potential to be a game changer for the project.The successful application of coarse particle HydroFloat technology to our process flowsheet has the potential to deliver substantial reductions in processing and capital costs, while simplifying downstream operations. These improvements could significantly enhance the project's overall economics and increase our ability to profitably...

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