Announcement • Sep 03

Nova Minerals Corp Advances West Susitna Access Road with Geotechnical Drilling

Nova Minerals Corp. reported that geotechnical drilling is underway and that the Alaska Industrial Development and Export Authority (AIDEA) has authorized up to $25 million in additional funding to advance the West Susitna Access Road. The AIDEA board has authorized up to $25 million in funding to advance geotechnical drilling and other essential works for the West Susitna Access Road over 2026/2027. ADOTPF geotechnical investigations are progressing well, with 2026 fieldwork and most drill holes completed or nearing completion at key material sites and bridge crossings, and numerous environmental studies now completed. On August 27, 2026, the AIDEA board approved up to $25 million additional in funding to undertake a geotechnical drilling program and progress other essential works for the West Susitna Access Road. The funding will also progress the permitting, hydrologic, engineering, and access work that directly supports it. This important next step builds on the Alaska Department of Transportation and Public Facilities' (ADOTPF) extensive geotechnical investigations and drilling program undertaken in 2026 as part of the predevelopment work for the West Susitna Access Road, supporting the preliminary design of the proposed roadway, bridges, culverts, and potential construction material sites. Field investigations have been completed at three material sites, with work at a fourth site nearly complete. Additional laboratory testing and technical analysis are ongoing. Fourteen material sites still require field investigation. These locations have received the necessary environmental and land-use permits and are prepared to proceed once authorization is received from the Federal Highway Administration. Substantial progress has also been made at the proposed Little Susitna River and Susitna River bridge crossings. At the Little Susitna River Bridge, seven of eight planned test holes and two of three planned penetrometer investigations have been completed. At the Susitna River Bridge, drilling has been completed at four primary bridge pier locations using barge-supported equipment. The remaining in-river pier investigations are planned for the May 15 through July 15, 2027, permitted in-water work window. The remaining abutment and approach investigations are fully permitted and awaiting federal authorization. In addition to the drilling, numerous environmental and other studies have also been completed or are nearing completion including: Overall, the West Susitna Access Road is expected to cover 78.5-miles, beginning approximately 1.4 miles west of Alexander Creek and extending to Nova Minerals' Whiskey Bravo airstrip and mineral exploration camp.

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