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Nova Minerals Limited Commences Fully Funded 2026 Estelle Exploration and Project Development Programs
Nova Minerals Limited provided an update on its planned 2026 field season and antimony development activities, as the Company advances its flagship Estelle Gold and Critical Minerals Project toward the Feasibility Study stage. Pilot-scale antimony production remains on schedule for late 2026 to early 2027, with military-grade antimony trisulfide samples now nearing completion. Team mobilized for one of the largest field and development programs to date, focused on resource definition drilling at the RPM deposit to advance the Feasibility Study, progressing the Stibium and Styx antimony prospects towards antimony production and resource delineation, and streamlining permitting activities. 2026 programs are fully funded, with over USD 60 million available through cash and Department of War award funding, providing optionality to accelerate activities as required. Extensive drilling program up to 10,000 meters focused on high-priority infill and expansion targets at RPM, alongside advancement of antimony prospects, to commence in the coming weeks. The Company’s first lab-scale antimony metal and military-grade antimony trisulfide samples derived from Estelle ore are in the final stages of preparation with assay results expected shortly. Critical mining and processing equipment delivered to site, with procurement of the Port Mackenzie downstream antimony process and refinery equipment advancing with delivery expected in the coming months. Project optimization and Pre-Feasibility studies are advancing in parallel with expanded environmental and geoscience programs supporting future permitting and regulatory assessments. Extensive multi-element surface exploration program planned across the Estelle Project, comprising reconnaissance and prospect scale sampling, excavation of outcropping Stibnite (antimony) ore vein material, detailed mapping of key target areas including RPM, West Wing, and Stibium, and soil grid surveys across numerous targets. Following a record freight delivery of approximately 1,500,000 pounds of equipment and supplies over recent months, activity at the Estelle camp has ramped up significantly. Helicopters, construction crews, drillers, and geologists are now onsite advancing preparations for the 2026 field program, with drilling expected to commence in the coming weeks. A drilling program of up to 10,000m is planned for 2026, with up to three diamond core rigs to be deployed across the Estelle Project. The campaign will focus on infill and expansion drilling at RPM, together with the continuation of the targeted drill program initiated last year at Stibium, focusing on exposed stibnite (antimony) vein systems. The drilling program will be complemented by extensive regional mapping and surface exploration across RPM, West Wing, Stibium and Portage Pass, as well as further bulk sampling of the exposed stibnite veins at Styx. Operations are expected to run for a minimum of three months during the Alaskan summer, leveraging near 24-hour daylight for continuous drilling seven days a week. The program and drill targeting will remain flexible and may be refined based on ongoing geological observations and drill core results. Approximately 7,000m of drilling is planned at RPM, with three primary objectives: Expand the eastern strike extension at RPM North, where 2025 drilling confirmed broad near-surface gold intersections in holes RPM-068 (167m @ 0.7 g/t Au from 187m, including 75m @ 1.1 g/t Au from 242m) and RPM-070 (165m @ 0.6 g/t Au from 3m). Increase the Measured and Indicated resource confidence at RPM Valley through additional infill drilling, together with step-out drilling to the south and west. Drill test near-deposit expansion targets along the ridgeline north of RPM North, where surface sampling has identified the potential for additional high-grade, RPM-style gold mineralization. In addition to the drilling program, detailed mapping is planned north of RPM North, together with further surface reconnaissance work between RPM and the Revelation prospect to follow up on 2025 surface sampling, which returned rock chip assays of up to 24.6 g/t Au west of RPM. With a diamond drill rig winterized and remaining on the pad from last season, approximately 3,000m of targeted drilling at the Stibium antimony-gold prospect is scheduled to recommence in the coming weeks. In addition to the established drill pad, construction of a new pad on the flank of Stibium is expected to provide more direct access to the target zone with reduced drilling metres, while avoiding the broken ground encountered during previous ridge-line drilling and directly targeting the exposed stibnite (antimony) veins. In addition to the drilling program, detailed structured mapping is to be undertaken across the Stibium prospect in 2026. Continue extraction of Stibnite (antimony) ore material from the ~1m-wide exposed Styx vein for upgrading at the Whiskey Bravo ore sorting facility prior to transport to the Port Mackenzie plant for downstream antimony processing and refining. Ore excavation will utilize mining equipment purchased with Department of War funding to mechanize the process to open up and provide access to the full surficial extent of the vein and significantly increase mine production rates. The majority of the mineral resource at the Korbel deposit already has a high confidence Indicated resource classification. Korbel will comprise a significant portion of the ore volume in any future mining scenario at the Estelle Project. No further infill drilling is planned for 2026, however Pre-Feasibility Study level metallurgical test work, environmental, and other technical studies are ongoing. Detailed mapping and additional sampling are planned at the West Wing prospect in 2026 to define potential future drilling positions following field observations and 2025 surface assay results which outlined a gold-copper anomaly measuring approximately 1,500m by 800m, with grades of up to 15.5 g/t Au and 6.9% Cu. A detailed soil sampling grid is planned in 2026 across the Portage Pass valley area, and pending those results could be followed up by an IP geophysical survey using the same exploration approach that led to the Korbel discovery.