Nova Confirms New Gold-Copper System Developing at West Wing

Anchorage Alaska, March 02, 2026 (GLOBE NEWSWIRE) -- Nova Minerals Limited ("Nova" or the "Company") (NASDAQ:NVA) (ASX: NVA) (FRA: QM3) ) is pleased to announce assay results from its 2025 surface sampling program in the West Wing area within the Company's flagship Estelle Gold and Critical Minerals Project (Estelle or the Project), located in the prolific Tintina Gold Belt in Alaska.

Highlights

• Field observations and 2025 surface assay results have delineated a gold-copper anomaly at West Wing measuring approximately 1,500m by 800m (Figures 4 and 5).
  
  
  
  
• Anomaly supported by:
  
  
  
  
  • Seven rock samples grading >3 g/t Au including a high of 15.5 g/t Au (Table 1), and 16 soil samples grading >1 g/t Au with a peak of 3.8 g/t Au (Table 2), and;
    
    
    
    
  • Three rocks samples grading > 1% Cu with a high of 6.9% (Table 3), and 16 soil samples grading > 0.2 % Cu with a high of 0.55% (Table4).

• These results build on earlier surface reconnaissance at West Wing, which returned rock samples of up to 25.8 g/t Au (ASX Announcement: 26 February 2024).
  
  
  
  

Nova General Manager and Geologist, Mr Hans Hoffman, commented:

"Field crews covered a lot of ground at Estelle in 2025 focusing on the less developed prospects and exploring for new ones. The most outstanding results came from West Wing where geologists were following up on two soil samples >1.0 g/t Au from 2024. Results from 2025 included 16 soil samples greater than 1.0 g/t Au over a 1 km strike length. Multi-gram gold and multi-percent copper rock samples were also reported. While a majority of the samples were collected in hornfels adjacent to the Estelle pluton, a few soil samples were collected atop a quartz feldspar porphyry, suggesting West Wing could be a different deposit style than is typical for Estelle.

"Detailed mapping and drill targeting at West Wing will be a top priority for field crews in 2026."

2025 Estelle Surficial Reconnaissance Program

During the 2025 field season, Nova's geologist team, led by General Manager and geologist Mr Hans Hoffman, undertook an extensive surface exploration mapping and sampling program across three main areas of the Estelle Project comprised of over 30 traverses covering 75-line kilometers, 430 soil samples, 170 rock samples, and 26 stream sediment samples (Figure 1).

As a result of that program and reported to date:

• Assay results from recent rock and soil sampling have outlined a newly developing large-scale gold-copper system at West Wing, as detailed in this announcement.
  
  
  
  

Further results from 2025 soil and rock sampling across the project district will be reported by area as they are received and processed in the coming weeks.

Figure 1. Estelle property map showing the extensive 2025 exploration program

West Wing

One of the most exciting discoveries of the season is the follow-up work done at West Wing where a 1,500m x 800m gold-copper anomaly was delineated with soil and rock sampling. Unlike a majority of the prospects at Estelle, the West Wing anomaly is primarily hosted in hornfels sedimentary rock, although it is adjacent to the Estelle pluton. Out of all the soil anomalies identified at Estelle, West Wing shows the highest continuous grades in hornfels. Of the 46 soil samples collected in the vicinity of West Wing, 21 were greater than 0.5 g/t Au, including 16 greater than 1.0 g/t Au, and five greater than 2.0 g/t Au with a high of 3.8 g/t Au. Of the 30 rock samples collected around West Wing, eight were greater than 2.0 g/t Au, including three samples over 5.0 g/t Au, with a high of 15.5 g/t Au (Figure 3).

West Wing also shows a notable copper signature with 16 soil samples greater than 0.2% Cu and three rock samples greater than 1% Cu, with a high of 6.9% Cu.

Figure 2. Nova geologist traversing the West Wing area

Figure 3. Sample E397403 – 5.5 g/t Au and 6.9% Cu; Sample E397404 – 15.5 g/t Au

Figure 4. West Wing Sampling – Gold

Figure 5. West Wing Sampling - Copper

Table 1. Significant Gold Results – Rocks > 1.0 g/t Au

Prospect	Sample ID	Easting	Northing	Au g/t
West Wing	E397404	501030	6863846	15.5
West Wing	E409268	501213	6864007	10.1
West Wing	E397403	501041	6863832	5.5
West Wing	E405220	501207	6864031	4.0
West Wing	E397405	500982	6863909	3.9
West Wing	G994193	501545	6865039	3.9
West Wing	E397401	501166	6863690	3.4
West Wing	G994180	500739	6863364	2.2
West Wing	G994196	499995	6863074	1.1
West Wing	E405222	501162	6864223	1.0

Table 2: Significant Gold Results – Soils > 1.0 g/t Au

Prospect	Sample ID	Easting	Northing	Au g/t
West Wing	E397463	501093	6863811	3.8
West Wing	G994460	500525	6863583	2.6
West Wing	E409175	501206	6864128	2.6
West Wing	E409173	501215	6864044	2.4
West Wing	E409174	501201	6864073	2.0
West Wing	G994478	500954	6863963	1.8
West Wing	E409176	501180	6864165	1.7
West Wing	G994456	500658	6863412	1.6
West Wing	G994459	500540	6863536	1.6
West Wing	E409177	501131	6864240	1.4
West Wing	E397461	500740	6863361	1.4
West Wing	E405305	500286	6863364	1.3
West Wing	G994479	500916	6863999	1.3
West Wing	G994457	500598	6863448	1.1
West Wing	G994454	500974	6863372	1.1
West Wing	G994477	500991	6863889	1.0

Table 3. Significant Copper Results – Rocks > 5,000 ppm (0.5%) Cu

Prospect	Sample ID	Easting	Northing	Cu_ppm
West Wing	E397403	501041	6863832	69200
West Wing	E397401	501166	6863690	16850
West Wing	E405221	501203	6864066	15300
West Wing	E405220	501207	6864031	9210
West Wing	G994184	501132	6863780	7380
West Wing	E405218	501233	6863966	5630
West Wing	E405217	501316	6863903	5520

Table 4: Significant Copper Results – Soils > 2,000 ppm (0.2% Cu)

Prospect	Sample ID	Easting	Northing	Cu_ppm
West Wing	E397461	500740	6863361	5460
West Wing	G994460	500525	6863583	5100
West Wing	E409173	501215	6864044	3760
West Wing	E409174	501201	6864073	3760
West Wing	E409175	501206	6864128	3400
West Wing	E409176	501180	6864165	3060
West Wing	G994479	500916	6863999	2850
West Wing	E397463	501093	6863811	2800
West Wing	G994454	500974	6863372	2760
West Wing	G994478	500954	6863963	2650
West Wing	G994481	500867	6864125	2530
West Wing	G994480	500899	6864047	2480
West Wing	E397462	501166	6863637	2470
West Wing	G994451	501278	6863363	2350
West Wing	E409171	501263	6863946	2130
West Wing	E409177	501131	6864240	2020

Upcoming Milestones

• Further results and potential new discoveries from the 2025 surface exploration mapping and sampling program
• Material PFS test-work results as they become available
• Winter trail mobilization of heavy equipment
• Airborne geophysical surveys to commence in the spring of 2026
• Antimony phase 1 project updates
• Metallurgical test work ongoing
• Environmental test work ongoing
• West Susitna access road updates
• Updated MRE
• Updates on the company redomiciliation to the US

Qualified Persons

Vannu Khounphakdy, Professional Geologist and member of Australian Institute of Geoscientists contracted by Nova Minerals to provide geologic consulting services. Mr. Khounphakdy holds a Master of Science in Mine Geology and Engineering. He is a qualified person with at least 5 years experience with this type of project. By reason of education, affiliation with a professional association, and past relevant work experience, Mr. Khounphakdy fulfills the requirements of Qualified Person (QP) for the purposes of SEC Regulation SK-1300 for data QA/QC checks relevant to this announcement.

Hans Hoffman is a State of Alaska Certified Professional Geologist contracted by Nova Minerals to provide geologic consulting services. Mr. Hoffman is a member of the American Institute of Professional Geologists and holds a Bachelor of Science degree in Geological Engineering with a double major in Geology and Geophysics. He is a qualified person with at least 5 years of experience with these types of projects. By reason of education, affiliation with a professional association, and past relevant work experience, Mr. Hoffman fulfills the requirements of Qualified Person (QP) for the purposes of SEC Regulation SK-1300 for the technical information presented in this announcement.

Christopher Gerteisen, Chief Executive Officer of Nova Minerals, is a Professional Geologist and member of Australian Institute of Geoscientists, and has supervised the preparation of this news release and has reviewed and approved the scientific and technical information contained herein. Mr. Gerteisen is a "qualified person" for the purposes of SEC Regulation S-K 1300.

About Nova Minerals Limited

Nova Minerals Limited is advancing one of the world's largest undeveloped gold deposits into production and securing a US domestic supply of the critical mineral antimony. The Company is focused on the exploration and development of the Estelle Gold and Critical Minerals Project, located in Alaska, a tier-one mining jurisdiction.

Estelle hosts two defined multi-million-ounce gold resources, and more than 20 prospects distributed along a 35-kilometre mineralized trend, in the prolific Tintina Gold Belt, a province which hosts a >220 million ounce (Moz) documented gold endowment and some of the world's largest gold mines and discoveries including, Kinross Gold Corporation's Fort Knox Gold Mine. In parallel, Nova is advancing its critical minerals strategy, fully-funded by a US$43.4 million U.S. Department of War award to develop a domestic antimony supply chain, targeted for production in late 2026/2027.

Further discussion and analysis of the Estelle Project is available through the interactive Vrify 3D animations, presentations, and videos, all available on the Company's website. www.novaminerals.com.au

Forward Looking Statements

This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Nova Minerals Limited's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Nova Minerals Limited undertakes no duty to update such information except as required under applicable law.

For Additional Information Please Contact

Investor Relations:

Dave Gentry, CEO

RedChip Companies, Inc.

Phone: 1-407-644-4256

Email: [email protected]

Nova Minerals:

Craig Bentley

Director of Finance & Compliance & Investor Relations

E: [email protected]

M: +61 414 714 196