The Donlin Gold project is located in the historic Kuskokwim Gold Belt of Southwest Alaska, 10 miles north of the village of Crooked Creek, and is managed by Donlin Gold LLC, which is owned equally by subsidiaries of NOVAGOLD and Barrick Gold Corporation.
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DONLIN GOLD ATTRIBUTES

The fact that Donlin Gold is located in the United States gives NOVAGOLD a tremendous competitive advantage. Jurisdiction is an important issue today in the resources sector. One of the key questions that investors will be asking of mining companies is: where in the world are your assets located? Investing in the wrong region carries risks well beyond what you find in North America. With five major producing mines, Alaska is the second largest gold producing state in the United States.

Its after-tax Net Present Value (NPV) at US$1,500 per ounce-gold and a 5% discount rate, was estimated at US$3.0 billion, as fully described in the NI 43-101 Technical Report on the Donlin Gold Project, Alaska, USA and the S-K 1300 Technical Report Summary on the Donlin Gold Project, Alaska, USA which can both be found here. This number rises to $13.1 billion undiscounted. Importantly, the resultant NPV sensitivity analysis showed an increase in value to US$4.9 billion at US$1,700 per ounce of gold (US$17.5 billion undiscounted), and then nearly a 50% further increase in NPV to US$7.2 billion at US$2,000 per ounce of gold (US$22 billion undiscounted).

Donlin Gold enjoys broad support, including from our Alaska Native Corporation stakeholders, the Calista Corporation (Calista) and The Kuskokwim Corporation (TKC), who own the mineral and surface rights to Donlin Gold. The project is on private land selected by Calista for the development of its mineral endowment. Our well-established track record of social engagement and environmental stewardship in the community distinguishes NOVAGOLD from its peers. The government of Alaska cites Donlin Gold as a model project for responsible development, a reputation that is reinforced with a unique association with the Green Star Communities Program of the Alaska Forum on the Environment sponsored in conjunction with Donlin Gold to promote hazardous waste collection and backhaul. That’s not something you see every day, and we’re proud of it.

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Footnotes

(1) Donlin Gold data as per the NI 43-101 Technical Report on the Donlin Gold Project, Alaska, USA with an effective date of June 1, 2021 and the S-K 1300 Technical Report Summary on the Donlin Gold Project, Alaska, USA, November 30, 2021. 39 Moz refers to measured and indicated mineral resources inclusive of mineral resources on a 100% basis, 50% attributable to NOVAGOLD (19.503 Moz). Donlin Gold proven and probable reserves of approximately 16.925 Moz grading 2.09 g/t attributable to NOVAGOLD (33.849 Moz on 100% basis) and measured and indicated resources, exclusive of reserves, of approximately 2.749 Moz grading 2.43 g/t attributable to NOVAGOLD (5.497 Moz on 100% basis).

Source: Donlin Gold Project NI 43-101 Technical Report titled NI 43-101 Technical Report on the Donlin Gold Project, Alaska, USA effective June 1, 2021 and the S-K 1300 Technical Report Summary on the Donlin Gold Project, Alaska, USA, November 30, 2021. Copies of both reports referenced above are available here as well as at http://www.sedarplus.ca/ or www.sec.gov.

Technical Reports and Qualified Persons

The documents referenced below provide supporting technical information for the Donlin Gold project.

Project: Donlin Gold

Qualified Persons: Henry Kim, P.Geo., Mike Woloschuk, P.Eng., Kirk Hanson P.E. “NI 43-101 Technical Report on the Donlin Gold Project, Alaska, USA” prepared by Wood Canada Limited, effective June 1, 2021. Wood Canada Limited “S-K 1300 Technical Report Summary on the Donlin Gold Project, Alaska, USA” prepared by Wood Canada Limited, November 30, 2021.

Paul Chilson, P.E., who is the Manager, Mine Engineering for NOVAGOLD and a “qualified person” under NI 43-101, has approved the scientific and technical information contained on this website.