Nova Winter Freight Haul Underway

Rhea-AI Summary

Nova (NASDAQ: NVA) has begun heavy-equipment mobilization to its Estelle Project via a 150km winter snow road from Willow, Alaska, supported by a US$43.4M U.S. Department of War award.

To date 95% of major equipment has arrived in Willow and ~70% has been dispatched along the winter trail to site; cold conditions and ice bridges enable heavy loads.

Positive

• US$43.4M award from U.S. Department of War supports project financing
• 95% of major equipment received at Willow logistics yard
• ~70% of equipment already dispatched on winter road toward Estelle
• Ice bridges >1.5m capable of supporting >100,000lb freight loads

Negative

• Approximately 30% of equipment remains at Willow awaiting winter-road delivery
• Winter freight is time-limited; remaining mobilization must finish before the winter road window closes
• Successful delivery depends on continued exceptionally cold conditions and trail integrity

News Market Reaction – NVA

+1.37%

3 alerts

+1.37% News Effect

+$3M Valuation Impact

$257M Market Cap

0.1x Rel. Volume

On the day this news was published, NVA gained 1.37%, reflecting a mild positive market reaction. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $3M to the company's valuation, bringing the market cap to $257M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Snow road distance: 150 km Ice bridge thickness: 1.5 m (5 ft) Supported freight load: 100,000 lb (45,000 kg) +5 more

8 metrics

Snow road distance 150 km Distance from Willow to Estelle Project via winter road

Ice bridge thickness 1.5 m (5 ft) Thickness of constructed ice bridges on snow road

Supported freight load 100,000 lb (45,000 kg) Freight load capacity of ice bridges

DoW award US$43.4M U.S. Department of War award received in October 2025

Equipment received 95% Share of major mining and processing equipment received at Willow yard

Equipment dispatched 70% Portion of equipment that has left Willow via winter road

Forecast temperature -26 °C Cold temperatures expected to keep trail conditions optimal

Forecast temperature (F) -15 °F Fahrenheit equivalent cited for forecast cold conditions

Market Reality Check

Price: $5.96 Vol: Volume 582,667 is below t...

normal vol

$5.96 Last Close

Volume Volume 582,667 is below the 20-day average of 739,099 (relative volume 0.79x). normal

Technical Shares at $6.21 are trading above the 200-day MA of $5.33, despite a -3.57% daily move.

Peers on Argus

While NVA fell 3.57%, several basic materials peers such as OMEX (-4.97%), XPL (...

1 Up

While NVA fell 3.57%, several basic materials peers such as OMEX (-4.97%), XPL (-5.29%), ATLX (-4.13%), FURY (-8.91%) and LGO (-7.41%) were also down. However, momentum data flags only one peer (USGO, up 1.73%) and classifies this as a stock-specific move rather than a coordinated sector rotation.

Historical Context

5 past events · Latest: Mar 09 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 09	Industry antimony outlook	Neutral	+1.5%	Sector-wide antimony demand and market growth outlook including Nova’s exposure.
Mar 09	Gold discovery update	Positive	+1.5%	High‑grade surface gold assays at RPM defining a key 2026 drill target.
Mar 02	Gold-copper system defined	Positive	+11.6%	New 1,500m x 800m gold‑copper anomaly with strong rock and soil results.
Feb 03	Redomicile and ownership	Positive	-3.7%	Plan to redomicile to U.S. and acquire remaining 15% of Estelle project.
Jan 27	Quarterly activities & cash	Positive	+6.1%	Quarterly update featuring US$43.4M award and progress toward antimony production.

Pattern Detected

Recent project and market updates have often seen positive or modestly positive price reactions, with only the redomicile announcement showing a notable divergence.

Recent Company History

Over the past few months, Nova has released a series of project-focused updates. On Jan 27, 2026, it reported a quarterly activities and cashflow update highlighting a US$43.4M Department of War award to fund stage‑1 antimony production, which coincided with a 6.06% gain. Exploration news on Mar 2 and Mar 9 detailing new gold-copper and high‑grade gold results at Estelle aligned with price rises of up to 11.57%. A Feb 3 redomicile and 100% ownership plan saw a -3.72% reaction, showing some sensitivity to corporate-structure changes. Today’s logistics and mobilization update continues this operational build-out narrative.

Market Pulse Summary

This announcement highlights tangible progress in Nova’s build‑out at the Estelle Gold and Critical ...

Analysis

This announcement highlights tangible progress in Nova’s build‑out at the Estelle Gold and Critical Minerals Project, emphasizing winter road operations, ice bridge capacity, and the deployment of heavy equipment funded in part by a US$43.4M Department of War award. With 95% of major equipment received and 70% already moved toward site, the update connects directly to earlier disclosures on antimony production plans and gold exploration. Investors may track future milestones on production start-up, infrastructure completion, and further resource updates.

Key Terms

epcm, stibnite, antimony, ore sorter, +1 more

5 terms

epcm technical

"assembled an Engineering, Procurement and Construction Management (EPCM) team tasked"

EPCM stands for engineering, procurement and construction management, a contract model where a firm designs a project, buys major equipment and manages contractors rather than doing the actual building work itself. For investors, an EPCM arrangement matters because it usually keeps the project owner more directly responsible for contractor costs, schedules and on-site risks, which can affect budget certainty, timelines and the likelihood of delays or cost overruns. Think of it as hiring an architect and general manager who arranges and oversees the builders rather than having a single company deliver the whole job.

stibnite medical

"extraction and processing of stibnite-bearing (antimony) ore."

Stibnite is a naturally occurring mineral made of antimony and sulfur (chemical formula Sb2S3) and is the main ore from which the metal antimony is extracted. It matters to investors because antimony is a raw material used in flame retardants, batteries, alloys and some electronic components, so discoveries, mining output or supply disruptions of stibnite can influence commodity prices and the prospects of mining and manufacturing companies — like finding a concentrated vein of a useful metal.

antimony technical

"commence antimony production on schedule."

Antimony is a metallic element used as an ingredient in alloys, flame retardants, batteries and some electronic components; think of it as a small but critical hardware part that improves strength, safety and performance in manufactured goods. Investors care because changes in supply, mining output or industrial demand can shift its price and affect companies that mine, process or rely on it—similar to how a shortage of a car part can slow auto production and raise costs.

ore sorter technical

"articulated haul trucks, excavators, dozers, crushers, ore sorter, and more — in camp"

An ore sorter is an automated machine that scans individual rocks or chunks of mined material with sensors (like X-rays, cameras, or lasers) and separates pieces that contain valuable minerals from waste rock, acting like a high‑tech sieve that checks each rock for value. For investors, ore sorters can raise the concentration of payable material sent to a mill, cut hauling and processing costs, reduce waste and environmental impact, and therefore improve project economics and cash flow.

qualified person regulatory

"He is a qualified person with at least 5 years experience with this type of project."

A qualified person is someone with specialized knowledge, experience, and training in a particular field, allowing them to accurately assess and verify information or work. Their expertise helps ensure that reports, evaluations, or decisions are trustworthy and meet required standards. For investors, a qualified person provides confidence that the information they rely on is credible and properly validated.

AI-generated analysis. Not financial advice.

Anchorage Alaska, March 16, 2026 (GLOBE NEWSWIRE) -- Nova Minerals Limited (“Nova” or the “Company”) (NASDAQ: NVA) (ASX: NVA) (FRA: QM3) ) is pleased to announce that the mobilization of heavy equipment to the Estelle Project is underway via the Company’s winter snow road, approximately 150km from Willow. (Figure 1). Ideal winter conditions allowed snow road construction to commence in early December, which involved pre-packing snow, water-flooding for ice thickening at major river crossings, and minor brush clearing. This winter has delivered near perfect snow road conditions with exceptionally cold temperatures that are favorable for the construction of ice bridges over 1.5m (5ft) thick. These bridges are capable of supporting freight loads well over 100,000lb (45,000kg) while preserving a hard snowpack base.

To watch a video of Nova’s snow road in operation click the link below, and keep an eye on our socials for additional ice road updates. https://novaminerals.com.au/nova-2026-snow-road-freight-haul-video/

Upon receiving a US$43.4M U.S. Department of War Award in October 2025¹ Nova rapidly assembled an Engineering, Procurement and Construction Management (EPCM) team tasked with sourcing heavy equipment from across the contiguous U.S. and Alaska to aid in trail construction, airstrip expansion, and the extraction and processing of stibnite-bearing (antimony) ore. Equipment travelled via barge, rail, and truck to Nova’s freight staging yard and logistics center in Willow, Alaska, where to date 95% of major mining and processing equipment items have now been received. Equipment is then loaded onto ski-trailers for transport by low ground pressure vehicles or self-driven along the winter trail to the Estelle Project site.

Approximately 70% of the equipment has left the Nova freight yard in Willow via the winter road for delivery to the Estelle Project site. The next few weeks remain crucial to the winter freight mobilization effort. With cold temperatures (-26C/-15F) forecast for the foreseeable future, trail conditions should remain optimal, and the company is confident it will meet its objectives to deliver all essential mining and processing equipment required to commence antimony production on schedule.

Nova General Manager and Geologist, Mr Hans Hoffman, commented:

“Having just ridden out and back on the snow trail myself, I can confirm this was the fastest and smoothest I've ever seen it — a testament to the exceptional cold temperatures this winter and the outstanding work by our team and partners. Freight Hauling is well underway, and with the first loads received, we have an exciting couple of weeks ahead as we prioritize the remaining critical transports before the winter freight window closes. Having this fleet of ore processing and earthworks equipment — articulated haul trucks, excavators, dozers, crushers, ore sorter, and more — in camp will be transformative. It will enable us to upgrade our existing infrastructure, expand the Whiskey Bravo airstrip, advance ore extraction at the antimony prospects, and establish new facilities to accelerate development across the Estelle Gold and Critical Minerals Project. We have a busy program ahead for 2026, including pushing forward on our gold resources at RPM, Korbel, and emerging targets; alongside fast tracking our antimony project towards production with the support of the U.S. Department of War. The team is energized and ready to deliver.”

Figure 1. Map route of Nova’s 2026 winter snow road

Photos of the 2026 Snow Road Operations

Qualified Persons

Vannu Khounphakdy, Professional Geologist and member of Australian Institute of Geoscientists contracted by Nova Minerals to provide geologic consulting services. Mr. Khounphakdy holds a Master of Science in Mine Geology and Engineering. He is a qualified person with at least 5 years experience with this type of project. By reason of education, affiliation with a professional association, and past relevant work experience, Mr. Khounphakdy fulfills the requirements of Qualified Person (QP) for the purposes of SEC Regulation SK-1300 for data QA/QC checks relevant to this announcement.

Hans Hoffman is a State of Alaska Certified Professional Geologist contracted by Nova Minerals to provide geologic consulting services. Mr. Hoffman is a member of the American Institute of Professional Geologists and holds a Bachelor of Science degree in Geological Engineering with a double major in Geology and Geophysics. He is a qualified person with at least 5 years of experience with these types of projects. By reason of education, affiliation with a professional association, and past relevant work experience, Mr. Hoffman fulfills the requirements of Qualified Person (QP) for the purposes of SEC Regulation SK-1300 for the technical information presented in this announcement.

Christopher Gerteisen, Chief Executive Officer of Nova Minerals, is a Professional Geologist and member of Australian Institute of Geoscientists, and has supervised the preparation of this news release and has reviewed and approved the scientific and technical information contained herein. Mr. Gerteisen is a "qualified person" for the purposes of SEC Regulation S-K 1300.

About Nova Minerals Limited

Nova Minerals Limited is advancing one of the world’s largest undeveloped gold deposits into production and securing a US domestic supply of the critical mineral antimony. The Company is focused on the exploration and development of the Estelle Gold and Critical Minerals Project, located in Alaska, a tier-one mining jurisdiction.

Estelle hosts two defined multi-million-ounce gold resources, and more than 20 prospects distributed along a 35-kilometre mineralized trend, in the prolific Tintina Gold Belt, a province which hosts a >220 million ounce (Moz) documented gold endowment and some of the world's largest gold mines and discoveries including, Kinross Gold Corporation's Fort Knox Gold Mine. In parallel, Nova is advancing its critical minerals strategy, fully-funded by a US$43.4 million U.S. Department of War award to develop a domestic antimony supply chain, targeted for production in late 2026/2027.

Further discussion and analysis of the Estelle Project is available through the interactive Vrify 3D animations, presentations, and videos, all available on the Company’s website. www.novaminerals.com.au

Forward Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Nova Minerals Limited’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Nova Minerals Limited undertakes no duty to update such information except as required under applicable law.

For Additional Information Please Contact

Investor Relations:
Dave Gentry, CEO
RedChip Companies, Inc.
Phone: 1-407-644-4256
Email: NVA@redchip.com

Nova Minerals:
Craig Bentley
Director of Finance & Compliance & Investor Relations
E: craig@novaminerals.com.au
M: +61 414 714 196

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¹ https://wcsecure.weblink.com.au/pdf/NVA/03001838.pdf

FAQ

What did Nova (NVA) announce on March 16, 2026 about the Estelle Project mobilization?

Nova confirmed heavy-equipment mobilization to Estelle is underway via a 150km winter snow road from Willow. According to the company, 95% of major equipment has arrived in Willow and about 70% has already been moved along the trail to site.

How does the US$43.4M Department of War award affect Nova (NVA) mobilization plans?

The US$43.4M award funds rapid equipment sourcing and EPCM activities for development and processing. According to the company, the award enabled procurement from across the U.S. and Alaska and supported logistics and airstrip expansion planning.

What equipment capacity does Nova (NVA) report for the 2026 snow road freight haul?

Nova states its ice bridges exceed 1.5m thickness and can support freight loads over 100,000lb. According to the company, these conditions preserve a hard snowpack base and permit transport of heavy articulated trucks, excavators, and crushers.

How much equipment has Nova (NVA) received and moved for the Estelle Project as of March 16, 2026?

Nova reports 95% of major mining and processing equipment have arrived at the Willow yard and ~70% has left Willow via the winter road. According to the company, remaining items are being prioritized before the winter freight window closes.

What are the near-term risks to Nova's (NVA) winter freight mobilization timetable?

The timetable depends on a limited winter freight window and sustained cold weather to maintain trail conditions. According to the company, the next few weeks are crucial to deliver remaining equipment before the trail thaw or operational constraints occur.