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To: LoneClone who wrote (148203)

12/10/2020 11:44:52 AM

From: LoneClone

Read Replies (1) | Respond to of 194002

Nova Minerals (ASX:NVA) Commences Environmental Studies for Korbel Main Deposit

abnnewswire.net

Melbourne, Dec 9, 2020 AEST (ABN Newswire) - Nova Minerals Limited (

ASX:NVA) (

FRA:QM3) (

OTCMKTS:NVAAF) is pleased to announce it has engaged key environmental and permitting specialists, independent consultancy Jade North, LLC to advance work on baseline environmental studies and develop a plan and schedule for permitting at the Korbel Main deposit in Alaska.

Highlights:

- Jade North, LLC appointed to advance Environmental work program and provide Permitting guidance at Nova's 3.3Moz Korbel Main deposit in Alaska

- Nova has retained Environmental and Permitting Specialists Ed Fogels and Bob Loeffler, Principals at Jade North, to build on Nova's ESG commitments

- Baseline environmental field studies to begin shortly

- Nova's resource drilling program continues at the Korbel deposit

- The Company is on track to deliver an updated Mineral Resource and PEA in 2021.

NVA CEO, Mr. Christopher Gerteisen commented:

"Environmental baseline studies have commenced at Korbel. The appointment of these key consultants is part of our proactive strategy to advance work on project studies well ahead of schedule. The team at Jade North have invaluable experience working successfully within the framework of the Large Mine Permitting Team, the government mechanism set up by the State of Alaska to streamline the permitting process for projects of the scale and scope we are aiming for at Korbel. It is critical we start our environmental studies now with baseline data collection and map out a clear path to follow to obtain the necessary approvals in a timely manner. This is all part of Nova's fast track path to production.

When looking at characteristics such as size and geochemistry, the Estelle Gold project shares similarities to the Fort Knox and Pogo mines. The Estelle Gold Project is ideally located on State Land only, a relatively favourable position in terms of land tenure and permitting.

Our environmental studies will run in parallel with technical studies while drilling continues on-site as we target the delivery of an updated resource in 2021. In Addition, this updated Mineral Resource and results from the Phase 2 metallurgical test work program will underpin a PEA scheduled for 2021."

About Nova Minerals Ltd

Nova Minerals Limited ( ASX:NVA) ( FRA:QM3) (OTCMKTS:NVAAF) is an ASX-listed minerals explorer focused on lithium, gold and mineral exploration in Canada, Alaska and Australia.

The company plans to create shareholder value through two-pronged strategy:

- Capitalise on the growing demand for energy storage and the resulting demand for lithium, cobalt and nickel by fast-tracking exploration and development activities in our North American assets with particular focus on our flagship lithium project and prospective Chip-Loy Nickel Cobalt Sulphides project.

- Diversification by gaining exposure to base and precious metals through our farm-in JV at our district scale Estelle gold copper silver project and our Northern Australian gold exploration assets.