07:31 AM EST, 01/02/2025 (MT Newswires) -- Nova Minerals ( NVA ) said Thursday it has completed the sale of the 6.6 million shares it owned in Snow Lake Resources for gross proceeds of $6.7 million.

The company said it allocated $4 million from the proceeds to reduce its Nebari loan, leaving $1.4 million of the facility on its balance sheet.

Nova said it will use the remaining proceeds for exploration and development at its Estelle Gold and Critical Minerals project in Alaska.