Core Points - NuVista Energy Ltd. held its annual meeting on May 9, 2025, where several key resolutions were approved [1] Group 1: Board of Directors - The number of directors was fixed at eight, with 79.58% of votes in favor [2] - Eight nominees were elected as directors, with the following vote percentages: - Pentti O. Karkkainen: 79.19% - Ronald J. Eckhardt: 79.03% - K. L. (Kate) Holzhauser: 77.04% - Michael J. Lawford: 79.34% - Mary Ellen Lutey: 79.50% - Deborah S. Stein: 78.72% - Jonathan A. Wright: 76.07% - Grant A. Zawalsky: 72.95% [3] Group 2: Appointment of Auditors - KPMG LLP was appointed as auditors with 96.50% of votes in favor [4] Group 3: Executive Compensation - NuVista's approach to executive compensation was approved with 79.22% of votes in favor [5] Group 4: Company Overview - NuVista is an independent Canadian oil and natural gas exploration, development, and production corporation, trading on the Toronto Stock Exchange under the symbol "NVA" [6] - The company focuses on the exploration and production of oil and natural gas reserves in the Western Canadian Sedimentary Basin, particularly in the condensate-rich Montney formation [7]

Core Viewpoint - NuVista Energy Ltd. reported strong financial and operational results for Q1 2025, achieving record production levels and reaffirming its annual capital and production guidance while enhancing shareholder returns through share repurchases and a renewed credit facility [1][6]. Financial Highlights - Achieved highest-ever quarterly average production of 89,516 Boe/d, exceeding guidance of 87,000 – 88,000 Boe/d, and representing a 12% increase from Q1 2024 [3][16]. - Generated adjusted funds flow of $191.9 million ($0.94/share), a 42% increase compared to Q1 2024 [3][16]. - Net earnings reached $112.2 million ($0.55/share), reflecting a 214% increase from Q1 2024 [3][16]. - Total revenues from petroleum and natural gas were $371.4 million, a 20% increase from $309.0 million in Q1 2024 [16]. Operational Highlights - Executed a net capital expenditure program of $153.4 million, resulting in the drilling and completion of 9 and 24 wells, respectively [3][16]. - Maintained a strong operating netback at $28.41/Boe and a corporate netback at $23.84/Boe, increases of 30% and 28% compared to Q1 2024 [3][16]. - Sustained production above 90,000 Boe/d for March 2025, indicating strong operational capability [10]. Shareholder Returns - Repurchased and cancelled 3.6 million common shares at an average price of $12.86 per share, totaling $45.8 million [3][16]. - The company plans to allocate a minimum of $100 million in 2025 for share repurchases under its normal course issuer bid (NCIB) [5][6]. Financial Position - Strengthened financial position through the amendment and renewal of a three-year covenant-based credit facility, increasing its size to $550 million and extending maturity to May 8, 2028 [9][8]. - Exited Q1 2025 with $2.7 million in available cash and net debt of $267.6 million, maintaining a favorable net debt to annualized adjusted funds flow ratio of 0.3x [8][9]. Production Guidance - Reaffirmed annual production guidance of approximately 90,000 Boe/d, with Q2 2025 production guidance set at 75,000 – 77,000 Boe/d due to planned turnaround operations [13][14]. - Anticipated production growth from the Pipestone area with the commissioning of a third-party gas plant expected late in Q2 2025 [13][14].

Core Insights - Nova Minerals Limited continues to report high-grade gold discoveries at its Estelle Project, with notable samples from Wombat reaching up to 360 g/t Au and RPM Regional area samples up to 56.3 g/t Au [1][5][4] - The company is advancing U.S. grant applications for antimony development, indicating a strategic focus on critical minerals alongside gold exploration [1][4] - The quarterly cash flow report shows a cash position of A$13.076 million with no debt, following significant cash inflows from the sale of shares and warrant exercises [10][6] Estelle Project Highlights - High-grade gold discoveries at Wombat include 7 rock samples grading greater than 2 g/t Au, with a peak of 360 g/t Au over a 1 km strike length [5][10] - The RPM Regional area has identified further high-grade gold, with 20 rock samples grading greater than 1 g/t Au and a high of 52.3 g/t Au [5][10] - The Stibium prospect has been confirmed as an extensive gold and antimony-rich zone, measuring 800m long by 400m wide, with identified resource drill targets [4][5] Financial Overview - The company reported a net cash outflow from operating activities of A$1.230 million for the quarter, with total cash equivalents at the end of the period at A$13.076 million [29][30] - Significant cash inflows included A$10.5 million from the sale of Snow Lake shares and A$1.5 million from the exercise of U.S. Nasdaq warrants [10][6] - Exploration and evaluation costs for the quarter totaled A$1.1 million, primarily related to PFS test work and environmental studies [10][6] Future Plans - Ongoing metallurgical and environmental test work is expected to yield material results, with plans for a 2025 drilling and surface exploration program [10][6] - The company aims to update its Mineral Resource Estimate (MRE) to comply with both JORC and S-K 1300 standards for gold and antimony [10][6] - Nova is also exploring potential funding opportunities from the U.S. Department of Defense for antimony supply [10][6]

Core Viewpoint - NuVista Energy Ltd. reported record-setting reserves and strong financial and operational results for the year ended December 31, 2024, highlighting significant growth in reserves and a commitment to shareholder returns as the company aims for continued production growth towards 125,000 Boe/d in 2025 [1]. Operational and Financial Highlights - Average production in Q4 2024 was 85,635 Boe/d, exceeding guidance of 83,000 – 84,000 Boe/d, with an annual average production of 83,084 Boe/d, an 8% increase from 2023 [4]. - The company executed a capital expenditure program of $498.9 million, including drilling 43 wells and completing 38 wells throughout the year [4]. - Annual adjusted funds flow was $552.2 million ($2.68/share), with Q4 contributing $137.1 million ($0.67/share) [4]. - Free adjusted funds flow for the year was $39.6 million ($0.19/share) [4]. - The company repurchased 5.9 million common shares at an average price of $12.52 per share, totaling $74.4 million, and has repurchased 36.5 million shares since 2022 [4]. - As of December 31, 2024, net debt was $232.5 million, with a favorable net debt to annualized fourth quarter adjusted funds flow ratio of 0.4x [4][8]. Reserves Growth - Reported Proved Developed Producing (PDP) reserves increased by 9% year-over-year to 177.3 MMBoe, with Total Proved plus Probable (TP+PA) reserves rising by 21% to 779.7 MMBoe [9]. - The company replaced 150% of 2024 production on a PDP basis and 550% on a TP+PA basis, reflecting the success of its capital program [9]. - PDP Finding, Development and Acquisition Cost (FD&A) was $11.13/Boe, with a PDP recycle ratio of 1.8x based on the 2024 operating netback [9]. 2025 Guidance and Operations - The company forecasts Q1 2025 production to average 87,000 – 88,000 Boe/d, with annual production expected to average approximately 92,000 Boe/d, assuming the Pipestone Plant starts up in Q2 [13]. - Annual capital expenditure guidance for 2025 is approximately $450 million, with a minimum of $100 million allocated for share repurchases [14][7]. - The company plans to continue its disciplined growth strategy while maintaining a strong balance sheet and low debt levels [15].

Core Points - Nova Minerals Limited is hosting a live virtual presentation for shareholders and investors, led by CEO Christopher Gerteisen [1][2] - The presentation will take place on February 18, 2025, at 1:10 PM US EST, as part of the Emerging Growth Company Conference [3] - Attendees will have the opportunity to ask questions during the event, and an archived version will be available on the company's website for those unable to attend live [3] Company Overview - Nova Minerals Limited is focused on the exploration and development of Gold, Antimony, and Critical Minerals, particularly through its Estelle Project in Alaska [4] - The Estelle Project encompasses 514 km² of mining claims and features multiple mining complexes along a 35 km mineralized corridor, with over 20 advanced Gold and Antimony prospects [4] - The project includes two defined multi-million ounce resources and several drill-ready Antimony prospects, with significant stibnite vein systems observed at the surface [4] - The Estelle Project is located 150 km northwest of Anchorage, Alaska, within the Tintina Gold Belt, which has a documented gold endowment exceeding 220 million ounces [4]

Core Insights - Nova Minerals Limited has announced final results from its 2024 exploration season, highlighting significant gold and antimony mineralization across its Estelle Gold and Critical Minerals Project in Alaska [1][4][24] Exploration Results - The 2024 exploration program included the collection of 511 soil samples, 225 rock samples, and approximately 5 tons of bulk sample material [4] - Notable assay results include: - High-grade antimony and gold at the Styx prospect with grades up to 54.1% Sb and 9.8 g/t Au [4] - Extension of the high-grade gold mineralization zone at the Muddy Creek prospect, with a high of 128.5 g/t Au, now extending 400m to 800m [4] - An 800m long by 400m wide antimony-rich zone at the Stibium prospect with results up to 56.7% Sb and gold results up to 141 g/t Au [5][6] Regional Sampling Highlights - In the wider RPM regional area, 20 out of 40 rock samples collected graded greater than 1 g/t Au, with a high of 52.3 g/t Au [8][9] - Soil samples revealed 11 out of 100 samples greater than 0.5 g/t Au, with a maximum of 4.8 g/t Au [8] - Till sampling yielded 34 out of 138 samples greater than 1 g/t Au, with a high of 3.6 g/t Au [8][15] Geological Insights - The exploration team observed that the ore deposit may be actively eroded by a small pocket glacier, indicating potential for further mineralization discovery [3] - Geologic mapping identified a glacial debris lobe where 68 till samples averaged 1.1 g/t Au over 1.7 km, highlighting significant resource potential [15] Future Plans - The company plans to drill in 2025 to confirm thickness, composition, and grade continuity of the identified mineralization zones [3][15]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2][3] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive has bureaus and studios in key finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] Group 2 - The company focuses on sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] - Proactive adopts technology to enhance workflows and improve content production [4][5] - All content published by Proactive is edited and authored by humans, ensuring adherence to best practices in content production and search engine optimization [5]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2][3] - The company focuses on medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - Proactive's news team delivers insights across various sectors including biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Group 2 - Proactive has a strong emphasis on technology adoption, utilizing tools to enhance workflows while maintaining human oversight in content creation [4][5] - The company employs automation and software tools, including generative AI, but ensures all content is edited and authored by humans [5]

Core Viewpoint - Nova Minerals Limited has announced significant high-grade gold and gallium surface sample assay results from its 2024 exploration season at the Estelle Gold and Critical Minerals Project in Alaska, highlighting the potential for further exploration and development in the area [1][3]. Exploration Results - The 2024 exploration season yielded 7 rock samples with grades exceeding 2 g/t Au, including a peak of 360 g/t Au, marking it as the second highest gold sample found at Estelle to date [1][5]. - A total of 511 soil samples, 225 rock samples, and approximately 5 tons of bulk sample material were collected during the exploration program [3][4]. - The Wombat prospect showed a gold anomaly with a strike length of up to 1 km, with 7 out of 17 rock samples exceeding 2 g/t Au [5][7]. - Multi-element analysis revealed 10 samples with gallium grades greater than 30 ppm, with a maximum of 74.5 ppm Ga from the Wombat prospect [5][13]. Additional Findings - The Stoney prospect exhibited a gold distribution with five samples greater than 1 g/t Au, alongside significant silver, copper, and antimony components [18]. - The Muddy Creek prospect extended the high-grade gold mineralization zone by an additional 400m to 800m, with a high of 128.5 g/t Au [6]. - The Stibium prospect identified an 800m long by 400m wide antimony-rich zone with results up to 56.7% Sb and gold results of up to 141 g/t Au [6]. Project Overview - The Estelle Project encompasses 514 km of mining claims in Alaska, featuring over 20 advanced gold and antimony prospects, including two defined multi-million ounce resources [31]. - The project is situated in the Tintina Gold Belt, known for its substantial gold endowment and significant mining operations [31].

Core Insights - Nova Minerals Limited has reported high-grade gold drill results from its 2024 exploration program, including significant intersections such as 29m at 7.1 g/t Au from surface and rock samples showing up to 141 g/t Au [1][6][11] - The company is advancing its Estelle Gold and Critical Minerals Project in Alaska, focusing on both gold and antimony resources, with ongoing U.S. grant applications for antimony development [1][7][12] - The recent sale of Snow Lake Resources shares and the extinguishment of the Nebari loan have strengthened the company's balance sheet, making it debt-free and increasing cash reserves to approximately A$16 million (US$10 million) [13][17][44] Estelle Project Developments - The 2024 exploration program included 21 drill holes targeting the high-grade RPM deposit, confirming continuity of near-surface high-grade mineralization with multiple intersections grading over 5 g/t Au [5][16] - Assay results from the RPM drilling and surface samples from various prospects, including Muddy Creek, Styx, and Stibium, have shown promising high-grade gold and antimony results [2][3][4] Gold and Antimony Assets - The Stibium prospect has revealed high-grade gold results with samples up to 141 g/t Au and antimony results reaching 56.7% Sb, indicating a significant mineralized zone [6][12] - The Styx prospect has also shown high-grade antimony results, with samples up to 54.1% Sb, suggesting potential for further exploration and development [8][12] Financial Position and Corporate Actions - Following the sale of Snow Lake shares for US$6.73 million (A$10.85 million), the company has improved its cash position significantly [13][44] - The company has eliminated its existing convertible debt facility with Nebari Gold Fund, resulting in a debt-free status and a stronger financial outlook [17][46] Future Plans and Strategic Direction - Nova is working on a Pre-Feasibility Study (PFS) to establish a scalable operation at the RPM deposit, aiming for near-term cash flow and potential partnerships with larger gold companies [12][36] - The company is also exploring options to fast-track the development of the Stibium gold-antimony prospect, especially in light of China's export restrictions on antimony [12][36]