Name of the Project
Estelle gold project.

Location
Alaska, in the US.

Project Owner/s
Nova Minerals.

Project Description
A Phase 2 scoping study has confirmed that an initial gold mining and processing operation presents a technically and commercially viable development opportunity, with positive financial metrics over an initial mine life of more than
17 years. The scoping study includes only three of the four resource deposits currently defined within the project – Korbel Main, RPM North and RPM South. The Estelle project’s total mineral resources are estimated at 1.1-billion tonnes grading 0.3 g/t gold.

The 2.01-million-ounce inferred gold resource at Cathedral is not included.

High confidence measured and indicated resources form part of the scoping study; however, owing to ASX guidelines, mineral reserves are not declared.

The study has determined that the Estelle project could produce about 132 000 oz/y of gold for 2.25-million ounces over the life-of-mine.

A conventional truck-and-shovel openpit operation will be used.

Hydraulic shovels will be used to handle the waste, overburden and ore. The shovels will be paired with haul trucks, which will transfer the material to the appropriate locations.

Movement of material from RPM North and RPM South to the Korbel mill, 27 km to the north, will be done by the same haul trucks that are loaded in the pit at RPM North and RPM South.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of $654-million and an internal rate of return of 53.3%, with payback of nine months.

Capital Expenditure
Preproduction capital is estimated at $385-million.

Planned Start/End Date
Not stated.

Latest Developments
The company is running on schedule to unlock the Estelle project.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Nova Minerals, tell +61 2 9537 1238 or email info@novaminerals.com.au.