Pursuant to ASX Listing Rule 5.3.3 Anova Metals Limited (ASX: AWV) reports as follows in relation to mining tenements held at the end of the 30 September 2020 quarter and acquired or disposed of during the quarter and their locations.

In August 2020, Anova announced the divestment of the Second Fortune Gold Mine (and greater Linden Gold Project) (Second Fortune) for A$9M, comprised of: A$5M upfront cash consideration; A$2M deferred cash consideration is payable by 29 March 2022; A$2M deferred cash consideration is payable by 29 September 2022; an NSR of 1.5% on each ounce of gold produced from the Linden Gold Project after a total of 75,000 cumulative ounces of gold have been produced from the Project; following total royalty payments of A$1M, the NSR will reduce to 1% on every ounce of gold produced.

Settlement of the divestment of Second Fortune was completed on 29 September 2020.

For further detail on the sale of Second Fortune, refer to Anova ASX release dated 26 August 2020, Anova to Sell the Second Fortune Gold Mine for $9 Million.

In July 2020, the Company also announced the divestment of the Malcolm Gold Project for cash consideration of A$100,000, plus a 5% NSR royalty on the first 5,000 ounces of gold recovered from the Project, with the royalty rate reducing to 1.5% thereafter.

No other interest changes have occurred during the quarter ended 30 September 2020.

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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