• US$43.4 million in non-dilutive funding from U.S. Department of War to develop domestic antimony supply chain
• Significant progress towards becoming fully integrated U.S. antimony producer, including equipment procurement and permitting
• Continued advancement of Estelle gold assets, with 2025 drilling results expected to support resource growth

Nova Minerals Limited (ASX: NVA, NASDAQ: NVA) provided an update on its activities at the Estelle Gold and Critical Minerals Project for the December 2025 quarter. The key highlights include:- US$43.4 million (A$65.5 million) in non-dilutive funding awarded by the U.S. Department of War (DoW), fully funding the establishment of a domestic antimony supply chain at the Estelle Project.- Significant progress towards becoming a fully integrated U.S. antimony producer, including commencement of critical equipment procurement, securing industrial-zoned land, and advancing permitting for a proposed antimony refinery at the deep-water Port Mackenzie site.- Continued advancement of the Estelle gold assets, one of the largest undeveloped gold systems globally, with the 2025 drilling program at RPM North and RPM Valley completed. Results are expected to support an increase in Measured and Indicated Mineral Resources.- Pre-Feasibility Study (PFS) work ongoing, including metallurgical test work, mine planning and optimization studies to support development pathways for Estelle's gold assets.- Strong corporate and funding position, with access to over A$106 million in funding at quarter end, including cash, DoW funding, liquid investments and in-the-money warrants, and no debt.

Nova is targeting first antimony production from its Estelle Project in late 2026 to early 2027, supported by the US$43.4 million in funding from the U.S. Department of War.

With the DoW funding, Nova is well-positioned to accelerate the development of a fully integrated U.S. antimony supply chain to extract, concentrate, and refine stibnite to produce military-grade antimony trisulfide. The company is also continuing to advance its Estelle gold assets, with an updated Mineral Resource Estimate expected to further demonstrate the scale and quality of its assets in a tier-one jurisdiction.