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Q What steps are involved in updating the 2011 feasibility study and how long would it take? AAn updated feasibility study will serve as a master plan Given the time invested to date and our best- for the Donlin Gold project (which encompasses key areas such as infrastructure, mining, and processing) and would take approximately two years to complete. The updated Donlin Gold project feasibility study would include the following key areas: f develop an RFP to select the engineering rm(s) f review and identify any changes as a result of permitting f con rm and nalize key technical assessments f establish process ow diagrams, layouts, and design criteria f nalize geologic and resource model with data from the 2017 drill program and develop production plans f conduct further metallurgical work to con rm technical design parameters f perform required eld work f nalize project execution plan f develop capital and operating costs f complete project economic analysis practices approach, we will continue to be prudent in our execution and look to achieve the highest value given the scarcity and unique nature of the Donlin Gold project. The outcome of this work should help the owners to advance the project toward a construction decision. 20 “Timely processing of environmental reviews and authorization decisions for proposed major infrastructure are being achieved as a result of cooperative relationships between Federal agencies.” Joe Balash, Bureau of Land Management Assistant Secretary for Land and Minerals Management