Nova Minerals Prices $20M Public Offering to Fuel Expansion of Estelle Gold Project

Public Offering to Accelerate Exploration and Development at Alaska’s Estelle Project

Nova Minerals Limited, an exploration-stage company with a focus on gold, antimony, and critical minerals, announced it has priced an underwritten public offering for gross proceeds of approximately $20 million. The offering comprises 2,928,300 American Depositary Shares (ADSs) at $6.83 each, with an additional 45-day option for underwriters to purchase up to 439,245 more ADSs to cover potential over-allotments. The proceeds will help advance Nova’s flagship Estelle Project in Alaska—home to several high-potential mineral prospects within the resource-rich Tintina Gold Belt.

Offering Structure Provides Flexibility for Future Capital Needs

According to the terms, each ADS represents twelve ordinary shares. ThinkEquity is acting as the sole book-running manager. The offering is expected to close on December 22, 2025, subject to the usual closing conditions. This financing will enable Nova to further drilling programs, undertake feasibility and environmental studies, expand its camp, secure additional permits, and support early-stage development activities. Any remaining funds will bolster general corporate purposes and working capital.

Estelle Project Positioned in Resource-Rich Tintina Gold Belt

The Estelle Gold and Critical Minerals Project is a sprawling 514 km² land package in Alaska, containing multiple advanced prospects and drill-ready targets across a 35-kilometer mineralized corridor. With over 20 gold and antimony targets—two of which already host multi-million-ounce gold resources—the project benefits from proximity to world-class operations and infrastructure in the prolific Tintina Gold Belt. This region is recognized for hosting over 220 million ounces of documented gold endowment and historical antimony production, supporting the strategic rationale behind Nova’s expanded exploration budget.

Funding to Support Strategic and Environmental Initiatives

Proceeds from this offering are earmarked not just for technical advancements but also for feasibility and environmental studies that are critical for permitting and long-term project viability. The company's multi-stage plan includes ramping up exploration drilling, supporting new resource definition, and expanding support facilities—key steps toward derisking and unlocking future production potential.

Takeaway: New Capital Fuels Growth, De-Risking and Exploration in Prolific Gold Belt

This $20 million capital raise comes at a pivotal time for Nova Minerals, with clear targets to fast-track development at one of Alaska’s largest emerging gold and critical mineral sites. While execution risks remain, particularly around permitting and development, this public offering is a concrete step towards moving Estelle up the value chain. Investors may want to track upcoming drill results, progress on environmental studies, and any further developments as Nova capitalizes on fresh funding in a region rich with opportunity and competitive precedent.

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