Anova Metals Limited (ASX: AWV) (Anova or the Company) advises of drilling progress at its Big Springs Gold Project in Nevada (Big Springs).

In total, 1,702 metres of diamond drilling have been completed since late October 2020, with seven holes completed at North Sammy and three holes completed at South Sammy. Two out of five planned holes were completed at North Sammy's Crusher Zone with drilling of the remaining three holes deferred due to the onset of winter weather conditions.

The 2020 drilling program was the first at Big Springs since early 2017. It was designed to deliver both infill and extensional drilling of the existing 1.03 Moz Big Springs Mineral Resource, plus active testing of new exploration targets.

A total of 1,154 core samples have been collected, with 916 samples already received by ALS Global's laboratory for assaying whilst the remaining 238 samples are currently in transit to the lab. The first batch of samples were received by the lab on the 5 th of November, however assay results have been delayed due to the high volumes of samples received by the lab and the impact of Covid-19. First assay results are expected from early January 2021.

Geological logging of core was highly encouraging with samples from over 25% of the metres drilled and sent to the labs being marked as prospective for gold mineralisation. The Company is reviewing the data and observations received from this drilling program in combination with all historical data. The 2020 drilling program was safely undertaken with no reported injuries or environmental incidents.

Extensive drilling and broader exploration activities are currently being planned for the 2021 field season, including drilling, soil sampling, field mapping and geophysics surveys. Further details with respect to the planned 2021 field program at Big Springs are expected to be announced early in the new year.

Contact:

Tel: +61 8 9481 0389

Email: info@anovametals.com.au

About the Big Springs Gold Project

The Big Springs Gold Project is a Carlin-style gold deposit located 80 km north of Elko in northeast Nevada, USA. Big Springs produced 386,000 ounces of gold between 1987 and 1993, ceasing production due to low gold prices. It is located in proximity to multiple +10 Moz resource Carlin-style gold projects within the region, including the producing Jerritt Canyon Gold Mine which is 20km south of Big Springs. Big Springs has Measured, Indicated and Inferred Mineral Resources of 16 Mt at 2.0 g/t Au for 1.03 Moz, over 50 km2 of highly prospective ground. The high-grade portion of the Mineral Resources, reported at a cut-off grade of 2.5 g/t gold, contains 3.1 Mt at 4.2 g/t for 415 koz. Big Springs is fully permitted for Stage 1 mining operations.

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