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Nova Minerals Limited (NVA.AX) Thompson Brothers Lithium Project Listing Update

Nova Minerals Limited

Nova Minerals Limited (NVA.AX) Thompson Brothers Lithium Project Listing Update

Melbourne, Australia, Aug. 2, 2021 – (ABN Newswire) – Nova Minerals Limited (ASX: NVA) (HAM: QM3) (OTCMKTS: NVAAF) announced that Snow Lake Resources is 74% of its Amendment # 2 to Form F. -1 filed with the Securities and Exchange Commission (SEC) on July 30, 2021 to raise up to $ 23 million in an initial public offering (IPO) (ASX March 30, 2021). Snow Lake is an exploration-stage mining company engaged in lithium exploration in the Province of Manitoba, Canada. ThinkEquity, a division of Fordham Financial Management Inc., is the sole bookrunner for the offering. A registration statement for these securities has been filed with the Securities and Exchange Commission (SEC) but has not yet become effective. These securities may not be sold or offers to buy accepted prior to the entry into force of the registration declaration. A copy of the registration declaration can be requested from the Company Secretary by emailing info@novaminerals.com.au.

Schneesee’s mission

Snow Lake is committed to being the world’s first fully renewable electric mine capable of delivering fully traceable, conflict-free, carbon-free, battery-grade lithium for the EV or EV consumer market. Snow Lake has set itself the goal of not only setting the standard for the responsible manufacturing of lithium batteries, but also intends to be the first lithium producer worldwide to achieve the status of Certified B Corporation. As a Certified B Corporation (defined on page 3 of F1 Filling), Snow Lake hopes to accelerate global culture change to redefine business success and help build a more inclusive and sustainable economy.

Mineral Resource Estimate (ASX June 3, 2021):

o Indicated resource estimate of 9.08 Mt @ 1.00% Li2O using a 0.3% Li2O cutoff grade and;

o Inferred resource estimate of 1.97 Mt @ 0.98% Li2O using a 0.3% Li2O cutoff grade.

Snow Lake is committed to being the world’s first fully renewable electric mine capable of delivering fully traceable, conflict-free, carbon-free, battery-grade lithium to the consumer electric vehicle market. Snow Lake not only wants to set the standard for responsible battery manufacturing, but also wants to be the first lithium producer worldwide to achieve the status of Certified B Corporation.

Snow Lake intends to achieve an environmentally, sustainable and government friendly strategy through the use and operation of the following initiatives and resources:

– Snow Lake has signed a Memorandum of Understanding (MOU) with Meglab Electronique Inc. for Meglab’s delivery of the world’s first fully electric lithium mine.

Snow Lake has also entered into a letter of intent with CentrePort Canada Inc. to have CentrePort as a potential site for the construction of a hydroxide facility.

– In April 2021, Snow Lake signed a letter of intent with IMG Investitions- und Marketinggesellschaft Sachsen-Anhalt mbH, the economic development agency of the state of Saxony-Anhalt, to examine the final investment in a lithium hydroxide plant in the Saxony-Anhalt region . However, Snow Lake cannot guarantee that the above non-binding MOUs will result in definitive agreements.

– Manitoba Hydro is expected to provide 97% renewable electricity to power the future lithium mine;

– Snow Lake is currently identifying sites in Manitoba for hydroxide processing of spodumene powered by renewable energy sources;

– The Arctic Gateway Group’s Hudson Bay Railway lines, located within 30 kilometers of our TBL concession, will connect our lithium mining operations to the North American auto industry with a minimal carbon footprint, with a total distance from the mine to the manufacturer less than 1,000 miles; and

– Snow Lake intends to apply for “B Corporation” certification, which reflects our corporate commitment to standards of social sustainability, environmental performance, accountability and transparency. A “Certified B Corporation” is a company that meets the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. Snow Lake has commenced the preliminary process to become a “pending” B Corporation and expects to formally apply for B Corporation status and commence operations approximately one year after the completion of this offering. There can currently be no assurances that Snow Lake will acquire “pending” B Corporation status, that Snow Lake will be able to apply for full B Corporation status within the above timeframe, or that Snow Lake will successfully achieve B Corporation status.

These factors will give Snow Lake a competitive advantage and first mover status in delivering a fully verifiable, environmentally friendly product to a rapidly growing market driven by consumers to demand new levels of transparency and accountability.

Practical steps

Snow Lake started a PEA in the third calendar quarter of 2021, which will include, among other things, an in-depth metallurgical analysis, resource definition, technical assessment and optimization of ore grading. In the third or fourth quarter of 2021, Snow Lake plans to begin an additional drill program to further expand the existing resource and a Mag drone survey, funded in part by a Manitoba government grant. In 2022, Snow Lake intends to initiate a PFS with additional drill exploration programs on the TBL property to test historic drill holes from Sherritt Gordon’s lithium discoveries more than 50 years ago, the records of which are intact. Snow Lake will begin the environmental study process in late 2021, and sometime in 2022 Snow Lake will begin approval to begin future mining operations. Snow Lake is confident that the company will confirm the historic mineralization assessments on the TBL property and be able to commence mining operations in 2023.

The story goes on

About Nova Minerals Limited:

Nova Minerals Limited (ASX: NVA) (FRA: QM3) (OTCMKTS: NVAAF) is a dynamic discoverer and developer of its flagship property Estelle Gold in the Tintina Gold Belt. Nova’s strategy is to significantly increase the current 4.7 million ounce resource on the Korbel project. It then continues to secure value by shifting Korbel towards production while increasing the resource base via the pipeline of targets within the Estelle gold district. Nova Minerals also has strategic interests in Snow Lake Resources Ltd (Thompson Brothers Lithium Project), Torian Resources Ltd (ASX: TNR) and RotorX Aircraft Manufacturing Co.

Contact:

Nova Minerals Ltd
Phone: + 61-3-9614-0600
Phone: + 61-3-9614-0550
WWW: novaminerals.com.au

Source:
Nova Minerals Limited

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