Revolutionary Gold Recovery Process Boosts Nova Minerals Ltd’s RPM Deposit

Gold Recovery Breakthrough at RPM Propels Nova Minerals Toward World-Class Status

Nova Minerals (ASX: NVA, NASDAQ: NVA) has unveiled remarkable metallurgical test results from its RPM deposit at the Estelle Gold Project in Alaska, demonstrating exceptional gold recoveries that significantly enhance the project's economic potential.

Innovative Multi-Pronged Processing Strategy Delivers Outstanding Results

Nova's metallurgical test work has revealed a powerful combination of processing technologies that could transform RPM into a low-cost, high-margin gold producer. The company has developed a three-pronged approach that maximizes gold recovery across different ore grades:

• High-grade ore (>2 g/t Au): Direct processing through carbon in pulp (CIP)/carbon in leach (CIL) circuits
• Medium-grade ore (<2 g/t Au): Processing through ore sorting technology
• Lower-grade material: Heap leaching of ore sorter rejects

The test results highlight two particularly impressive achievements:

1. Ore sorting technology produced a 4.33x upgrade in a single pass, transforming 1.32 g/t Au material into 5.72 g/t Au concentrate
2. Heap leaching recovered up to 68.7% gold from lower-grade material that would otherwise be considered waste

Game-Changing Ore Sorting Technology

Working with Steinert Mining, Nova conducted extensive ore sorting test work that demonstrated the RPM ore's exceptional amenability to X-Ray Transmission (XRT) and 3D-laser sorting technology.

In a 1,000 kg bulk test, the technology successfully:

• Recovered 48.8% of gold in just 11.3% of the mass in the first pass
• Upgraded 1.32 g/t feed material to 5.72 g/t concentrate
• Created a 4.33x grade improvement in a single sorting cycle

This significant concentration capability means Nova can potentially process substantially more high-grade material through its main processing plant while sending lower-grade material to heap leaching operations.

"These results underscore the economic potential through innovative processing methods as we continue to refine our development pathway. We believe RPM has the hallmarks of a low-cost, high-margin gold producer," said Christopher Gerteisen, CEO of Nova Minerals.

Heap Leaching Unlocks Additional Value

The company's heap leach test work program, conducted by METS Engineering, demonstrated that gold recovery rates of up to 68.7% can be achieved from lower-grade material at an achievable crush size of 3.35 mm after 59 days of leaching.

This approach offers several key benefits:

• Recovers gold from material previously considered waste
• Requires lower capital investment than conventional processing
• Features simpler operations with lower operating costs
• Can accelerate cash flow generation to fund more advanced processing facilities
• Has proven effectiveness in Alaskan operations like Kinross's Fort Knox mine

Understanding Ore Sorting Technology

XRT ore sorting is a proven technology that examines rock density using X-rays to separate valuable minerals from waste before processing. The system:

• Scans raw ore with X-rays to collect density data
• Uses advanced algorithms to identify ore and waste rock
• Employs high-pressure blowers to physically separate materials
• Reduces energy requirements and tailings generation
• Improves overall mine efficiency and economic benefits

Conceptual Flowsheet Maximizes Resource Value

Nova has developed a conceptual flowsheet that combines all three processing approaches to maximize gold recovery across different ore grades:

1. High-grade ore (>2 g/t) goes directly to CIP/CIL processing
2. Medium-grade ore undergoes ore sorting to create high-grade concentrate
3. Ore sorter rejects are processed through heap leaching
4. All three streams contribute to overall gold production

This multi-stream approach allows Nova to extract maximum value from the entire resource base rather than focusing solely on high-grade material.

Advancing Toward Pre-Feasibility Study

The company is continuing to advance these metallurgical processes as part of its Pre-Feasibility Study, with:

• Ongoing CIP/CIL test work for high-grade material
• High Pressure Grinding Rolls (HPGR) crushing test work to optimize the flowsheet
• Further refinement of ore sorting parameters for potential optimization

Estelle Project: A District-Scale Gold Opportunity

The RPM deposit is part of Nova Minerals' larger Estelle Gold Project, which represents a significant district-scale opportunity:

• 514 km² of mining claims in Alaska
• 35 km long mineralized corridor with over 20 advanced prospects
• Two already defined multi-million ounce resources
• Located in the prolific Tintina Gold Belt, which hosts >220 million ounces of documented gold endowment
• Includes significant antimony potential, a critical mineral

Why This Matters to Investors

These metallurgical results significantly enhance the economic potential of the RPM deposit and the broader Estelle Project:

• The multi-pronged processing approach maximizes gold recovery across all ore grades
• Ore sorting technology dramatically increases the amount of high-grade material available for processing
• Heap leaching converts previously considered waste material into profitable production
• The processing strategy potentially reduces capital and operating costs
• These innovations could accelerate the path to production and cash flow

Understanding Heap Leaching in Mining

Heap leaching is a well-established processing method used by major gold producers worldwide, including at Kinross's Fort Knox mine in Alaska. The process involves:

1. Crushing ore to an optimal size (in this case, 3.35 mm)
2. Stacking the crushed material on an impermeable pad
3. Irrigating the heap with a leaching solution that dissolves gold
4. Collecting the gold-bearing solution as it percolates through the heap
5. Processing the solution to recover gold
6. Recycling the barren solution for reuse

This method offers several advantages for Nova:

• Lower capital costs compared to traditional milling
• Lower operating costs and energy consumption
• Ability to economically process lower-grade material
• Faster development timeline to first gold production

Investment Thesis: Nova's Path to Becoming a Major Gold Producer

Nova Minerals is positioning itself to deliver the next major North American gold mine, with the Estelle Project showing the hallmarks of a world-class, long-life gold district:

• Scale: 514 km² land package with multiple deposits and prospects
• Grade Enhancement: Innovative processing methods to maximize recovered gold
• Cost Efficiency: Multi-pronged approach to optimize processing costs
• Location Advantage: Situated in mining-friendly Alaska with established infrastructure
• Growth Potential: Ongoing exploration across multiple promising targets
• Proven Team: Management with track record of advancing mining projects

Nova Minerals continues to advance toward its vision of developing Estelle into a world-class, long-life gold district capable of delivering sustained value to shareholders.

Ready to Discover Alaska's Next Major Gold Mine?

Don't miss this opportunity to be part of Nova Minerals' journey as they develop the Estelle Gold Project into a world-class, long-life gold district in Alaska. With game-changing metallurgical breakthroughs, innovative processing technologies, and significant resource growth potential, Nova is positioning itself as a compelling investment opportunity in the gold sector. Visit Nova Minerals' website to learn more about this emerging gold producer and their path to unlocking substantial shareholder value.