Nova Minerals Limited is gearing up to commence further resource development drilling at the company's Estelle Gold Project in Alaska's prolific Tintina Gold Belt after geophysics confirmed further continuous zones at the RPM deposit. Hosting a current total estimated JORC gold resource of 9.6Moz, Estelle is a 35km long corridor of 17 identified gold prospects bracketed by the Korbel deposit in the north and the RPM deposit in the south. Magnetic anomaly in regional geophysics confirms a 1km continuity of the mineralized intrusive contact zone recently identified by drill hole RPM-005.

The anomaly correlates directly with the high grade mineralized intrusive contact and is further supported by drillhole structural data and surface geological observations. The unconstrained 3D magnetic inversion modeling was performed on regional scale airborne geophysical data flown by Fugro Geoservices Inc. during 2008 and obtained from the Alaskan Division of Geological and Geophysical Surveys (DGGS). The models were created using the GeoSoft Voxi modeling software and incorporated digital elevation models provided by Nova Minerals.

The 3D magnetic Inversions were performed by RDF Consulting Ltd. based in Newfoundland, Canada. RDF has over 30 years experience performing geophysical and geological consulting services to the exploration and mining industry in Canada and internationally. All work was performed by a qualified and professionally registered geophysicist.

Gold deposits at Estelle are classified as Intrusive Related Gold Systems (IRGS). At RPM mineralization is closely associated with a series of E-W striking, steep dipping Grano-Diorite Intrusive dikes. Geological observations from drill core at RPM North shows these dikes to vary from 50-150m in thickness with high-grade bonanza zones, as intersected in hole RPM-005, focussed along the intrusive hanging wall contact emplaced within a Hornfels sediment country rock.

The contrast in magnetic signature between the Intrusive versus Hornfels is extreme, with the intrusive units exhibiting a much higher magnetic response relative to surrounding Hornfels. Locating and confirming continuity of the Intrusive dike units is a critical component to potentially intersecting additional high-grade material to expand the resource at RPM. In plan view, the southern edge of the magnetic high correlates to a barren sharp footwall contact of the intrusive dike unit, whereas the north side of the anomaly appears as a more disrupted, attributed to the geological process related to mineralization which extends beyond the hanging wall contact into the surrounding Hornfels rocks.

This is a strongly data supported target with massive potential upside in light of the previous bonanza intercepts in drill hole RPM-005. As such, follow up resource step out drilling is planned to commence in 2022 to confirm this interpretation. The magnetic high target at RPM South is interpreted to be a further Intrusive dike unit as per RPM North.

Although the magnetic anomaly is not as strong, geological observations confirm grano-diorite Intrusive rocks at surface, as well as a large footprint of high grade rock chip samples up to 103g/t. RPM South is considered a prime corollary target which remains untested to date. As such, drilling is planned in 2022 to test this target at RPM South to potentially add significant to the RPM resource. Follow up work program: Program planning and design now complete as Nova ramps up to continue drilling at RPM with the aim to expand and prove-up the existing 1.5Mozs Au Inferred resource.

A minimum of 2 rigs gearing up to commence 2022 RPM resource development drilling programs. Over 20,000m of diamond drilling planned at RPM North to extend strike up to 1km to the west as confirmed by magnetic anomaly. Dense drill spacing around existing resource area aimed at proving up significant portion of RPM resource to higher confidence Indicated status. Over 3,000m of diamond drilling planned to intersect and define additional resources at RPM South, which shows a much larger surface sample mineralized footprint.

Ground and/or drone detailed IP geophysics surveys across the RPM wider prospect area to further identify additional mineralised zones.