Nova Minerals Secures 9.4% of Adelong Gold with A$1 Million Investment

Strategic Investment in Adelong Gold

Nova Minerals Limited (ASX:NVA) has announced a significant strategic investment in Adelong Gold Limited (ASX:ADG), acquiring a 9.4% stake through a A$1 million share subscription. This move aligns with Nova’s broader strategy to partner with undervalued, high-growth resource companies that offer near-term production potential and exploration upside. The investment package also includes 200 million listed options exercisable at $0.008, expiring in 2029, and a First Right of Refusal on any future antimony offtake agreements from Adelong.

Adelong Gold is focused on gold and antimony exploration and near-term production across projects in Australia and Brazil. Its portfolio includes the Adelong Goldfield Project in New South Wales, the Apollo and Lauriston Gold and Antimony Projects in Victoria, and lithium assets in Brazil. Notably, the Lauriston project lies adjacent to Agnico Eagle’s world-class Fosterville Mine and boasts high-grade gold discoveries, including drill results of 8 meters at 104 grams per tonne gold.

Maintaining Focus on Estelle

Despite this new investment, Nova Minerals emphasizes that its flagship Estelle Gold and Critical Minerals Project in Alaska remains its primary focus. The current drilling season at Estelle is nearing completion, with core samples submitted for assay. Nova anticipates a series of near-term catalysts, including drill assay results, surface exploration data, metallurgical test work, and an updated Mineral Resource Estimate, all expected to enhance the scale and confidence of its multimillion-ounce gold resource.

Nova’s CEO, Christopher Gerteisen, highlighted the complementary nature of the Adelong investment, describing it as a unique opportunity combining near-term production potential with high-grade exploration upside and future antimony prospects. He noted that Adelong’s recent drilling success and first gold production at its Challenger project position it well for a transformational phase, which Nova aims to support through capital and strategic collaboration.

Governance and Future Collaboration

As part of the agreement, Nova will nominate Louie Simens to join Adelong’s Board of Directors, ensuring strategic oversight and alignment. The company has also agreed to escrow its shares for 12 months and will participate in future capital raises on a First Right of Refusal basis. Additionally, Nova stands to receive 50 million options contingent on the successful introduction of a qualifying antimony project in North America, further linking the two companies’ growth trajectories.

This investment underscores Nova’s strong balance sheet and its ability to pursue diversification without compromising the momentum of its core projects. It also reflects a broader trend among resource companies seeking to balance exploration upside with near-term production opportunities, particularly in metals critical to the energy transition such as gold, antimony, and lithium.