Novagold Resources Inc. · AMEX:NG
Novagold Resources — New Orleans Investment Conference 2023
34 slides from Novagold Resources's conference presentation, Nov 1, 2023
Slide 1: New Orleans Investment Conference
New Orleans Investment Conference November 1-4, 2023 TSX, NYSE American: NG | novagold.com NOVAGOLD | New Orleans Investment Conference
Slide 2: Cautionary Statements Regarding Forward-Looking Statements
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS Forward-looking statements are based on a number of material assumptions, including but not limited to the following, which could prove to be This presentation includes certain “forward-looking information” and “forward-looking statements” (
Slide 3: Donlin Gold: A Tier-One Asset in a World-Leading Jurisdiction
DONLIN GOLD: A TIER-ONE ASSET IN A WORLD-LEADING JURISDICTION Generational asset with strong, investor-friendly attributes SIZE GRADE EXPLORATION POTENTIAL 39Moz gold contained 2.24 g/t Au², more Endowment is contained within three in measured and than double the kilometers of an eight- kilometer- i
Slide 4: Advancing the Donlin Gold Project Up the Value Chain
NOVAGOLD ADVANCING THE DONLIN GOLD PROJECT UP THE VALUE CHAIN Unlocking value from a pure play on what we and many of our largest shareholders regard as the most exciting development project in the gold industry globally Successful strategic repositioning as a pure gold play Steady advancement of Do
Slide 5: Alaska: World-Leading Mining Jurisdiction
DONLIN GOLD ALASKA: WORLD-LEADING MINING JURISDICTION ▪ 2nd largest gold-producing state in the U.S.¹ ▪ Well-defined state permitting process ▪ $4.5B value of non-fuel mineral production (Donlin Gold community employees not included) in Alaska (6th highest in U.S.)² ▪ $2.6B allotted to Alaska from U
Slide 6: Alaska Native Corporation Partnerships Elevate the Project
DONLIN GOLD ALASKA NATIVE CORPORATION PARTNERSHIPS ELEVATE THE PROJECT Donlin Gold is situated on private land designated for mining activities five decades ago and holds life-of-mine agreements with Alaska Native Corporations Calista and TKC Calista Corporation Resource development “ The Donlin Gol
Slide 7: ESG Performance
NOVAGOLD ESG PERFORMANCE (Fiscal Year 2022) Committed to Responsible and Economic Development in Alaska’s Y-K Region (Scope 1) 7 NOVAGOLD | New Orleans Investment Conference
Slide 8: Positioned to Become a Million-Ounce Gold Producer
DONLIN GOLD POSITIONED TO BECOME A MILLION-OUNCE GOLD PRODUCER 1 Anticipated to be one of the highest gold producers in the Americas 1.20 1.13 Projected annual gold production (millions of ounces) 1.03 1.00 Donlin Gold’s 27-year mine life 0.80 1.13 Moz/yr1 0.60 0.40 0.42 0.36 0.38 0.40 0.34 0.30 0.3
Slide 9: Double the Global Average Gold Grade
DONLIN GOLD DOUBLE THE GLOBAL AVERAGE GOLD GRADE 1 Among the world’s highest-grade known open-pit gold deposits 2.24 g/t While global average gold grades are declining, Donlin Gold’s grade 1.04 provides resilience through commodity price cycles g/t Global average grade1 Donlin Gold average grade2 Se
Slide 10: The Next Big Gold Discovery Could Be at Donlin Gold
DONLIN GOLD THE NEXT BIG GOLD DISCOVERY COULD BE AT DONLIN GOLD Significant potential to expand current resource at depth and along strike Far Side 8km ▪ From 2006 to 2011, M&I Queen resources increased 135% (16.6Moz1 to Snow Quartz Ophir ACMA Pit Dome 39.0Moz2 on 100% basis) Lewis Pit ▪ Gold resour
Slide 11: Third Quarter Activities
DONLIN GOLD THIRD QUARTER ACTIVITIES 2023 field program successfully completed in July Donlin Gold 2023 field program ▪ Completion of comprehensive fieldwork and geotechnical drilling required for the Alaska Dam Safety certification applications ▪ Fieldwork to further define groundwater at the site,
Slide 12: Third Quarter Activities
DONLIN GOLD THIRD QUARTER ACTIVITIES Considerable outreach and engagement activities throughout the Y-K region and Alaska Community Engagement and investments ▪ In collaboration with Calista and TKC, Donlin Gold achieved the following milestones in areas spanning education, health and safety, cultur
Slide 13: Permitting Update
DONLIN GOLD PERMITTING UPDATE Key federal permits for the project received and state permitting is well-advanced Federal Permitting Completed State Permitting Completed ✓ Final Environmental Impact Statement (EIS)* ✓ Air Quality ✓ Alaska Pollutant Discharge Elimination System ✓ Joint Record of Decis
Slide 14: Third Quarter Activities
DONLIN GOLD THIRD QUARTER ACTIVITIES Providing support in permitting process and efficient issuance of remaining State level permits State permitting and litigation activities ▪ Air quality permit was reissued ▪ The second of the two Right-of-Way permit appeals was denied in Alaska Superior Court an
Slide 15: Third Quarter Activities
DONLIN GOLD THIRD QUARTER ACTIVITIES Continuing collaborative engagement with Native Alaskan Partners and State/Federal officials Federal & State Bipartisan Outreach Campaign ▪ Calista, the village of Crooked Creek and Donlin Gold emphasized the project’s importance to the region and comprehensive p
Slide 16: Stewarding a Robust Treasury
NOVAGOLD STEWARDING A ROBUST TREASURY Cash and Term Deposit Balance 2023 Forecast Spending² Donlin Gold project expenditures $18M $130 Million Corporate G&A Working capital and other items $13M $1M August 31, 2023¹ Total $32M See endnotes for this slide in Appendix 16 NOVAGOLD | New Orleans Investme
Slide 17: Extraordinary Leverage to Gold in a Place That You Can Keep It
DONLIN GOLD Gold will emerge as the asset class with the most EXTRAORDINARY LEVERAGE TO GOLD potential this decade, no matter the financial or IN A PLACE THAT YOU CAN KEEP IT geopolitical backdrop. – “The Upcoming Gold Bull Market: How High Will Gold Prices Go?” Goehring & Rozencwajg - 08/31/2023 $3
Slide 18: The History of Gold Cycles
GOLD “If you take a look at a long-term price chart of gold, you’ll see against the dollar that gold is consolidating and coiling for the next up-leg in the bull market — the one that will take it convincingly past $2,000 and to the higher equilibrium range that I see in dollar terms.” – NOVAGOLD Ch
Slide 19: Gold Equities in Inflationary Times (1971-1976)
GOLD GOLD EQUITIES IN INFLATIONARY TIMES (1971-1976) Historically, inflationary recessions have triggered a rotation out of broader equity markets while gold equities outperformed S&P Gold BGMI 30.0% 600.0% ▪ Between 1971 & 1974, inflation increased from 3% to11% 20.0% 500.0% ▪ In the same time fram
Slide 20: Global Central Bank Gold Reserves Are Back to Mid-1970s Levels
GOLD GLOBAL CENTRAL BANK GOLD RESERVES ARE BACK TO MID-1970s LEVELS World Gold Council gold reserves chart from1974-2022 ▪ Central Bank attitudes toward gold changed following the 1997 Asian financial crisis and the 2007-08 financial crisis. Since 2010, central banks have been net buyers of gold ▪ I
Slide 21: Strong Institutional Shareholder and Management Support
NOVAGOLD STRONG INSTITUTIONAL SHAREHOLDER AND MANAGEMENT SUPPORT The10 largest shareholders represent almost 70% of shares issued and outstanding1 Named Executive Officers’ ownership has increased to ~2.8 million2 shares since joining the company 69.5% 30.5% top 10 shareholders 25.4% Electrum Strate
Slide 22: Upcoming Catalysts for the Ultimate Company Maker
NOVAGOLD UPCOMING CATALYSTS FOR THE ULTIMATE COMPANY MAKER Taking the Donlin Gold project up the value chain ▪ The recently completed comprehensive work provided valuable information for the Donlin Gold LLC board and its Owners – Extensive analysis on project assumptions and inputs – Design componen
Slide 23: Donlin Gold: A Tier-One Asset in a World-Leading Jurisdiction
DONLIN GOLD: A TIER-ONE ASSET IN A WORLD-LEADING JURISDICTION Generational asset with strong, investor-friendly attributes SIZE GRADE EXPLORATION POTENTIAL 39Moz gold contained 2.24 g/t Au², more Endowment is contained within three in measured and than double the kilometers of an eight- kilometer- i
Slide 24: Appendix
Appendix NOVAGOLD | New Orleans Investment Conference
Slide 25: Mineral Reserves
MINERAL RESERVES Attributable to Donlin Gold Tonnage Grade Metal content NOVGAOLD *Mineral reserves and mineral resources GOLD kt g/t Au koz Au koz Au are reported on a 100% basis and on a 50% basis. Reserves1 NOVAGOLD and Barrick Gold each Proven 7,683 2.32 573 287 own 50% of the Donlin Gold projec
Slide 26: Mineral Resources
MINERAL RESOURCES Attributable to *Mineral reserves and mineral resources are Donlin Gold Tonnage Grade Metal content NOVGAOLD reported on a 100% basis and on a 50% basis. GOLD kt g/t Au koz Au koz Au NOVAGOLD and Barrick Gold each own 50% of the Donlin Gold project. Resources2, exclusive of Reserve
Slide 27: Donlin Gold
DONLIN GOLD S-K 1300 Technical Report – Donlin Gold project, Alaska, USA dated November 30, 2021 (100% basis) Key financial economic & production aata LOM operating costs Initial capital costs $7.4B Area $/t Processed $/t Mined $/oz Au Sustaining capital costs over LOM (27 years) $1.7B Mine operatio
Slide 28: 2022 Drill Program Delivered Among the Best Assay Results in the Gold Industry Globally
DONLIN GOLD 2022 DRILL PROGRAM DELIVERED AMONG THE BEST ASSAY RESULTS IN THE GOLD INDUSTRY GLOBALLY Donlin Gold’s largest drill program in 15 years – Top 20 signifiant intervals1 Hole ID Location Date Reported From (m) To (m) Length Grade (m) (g/t Au) ▪ The 141-hole, 42,331m drill DC22-2068 Divide 1
Slide 29: Management
NOVAGOLD MANAGEMENT ▪ Former President of Barrick Gold North America Gregory Lang ▪ 40+ years experience building & operating major open-pit and underground mines (Goldstrike, Cortez, President and CEO Turquoise Ridge, Bald Mountain) ▪ Diverse experience in mine operations, project development and e
Slide 30: Board of Directors
NOVAGOLD BOARD OF DIRECTORS Dr. Thomas ▪ Chairman and CEO of The Electrum Group LLC, a privately ▪ President of Azteca Consulting LLC, and director of Glencore plc, Trilogy held natural resources investment management company Kalidas Metals and Dundee Precious Metals Kaplan Former CEO of China Moly
Slide 31: Endnotes
ENDNOTES SLIDE 3 & 24 – Donlin Gold: A tier-one asset in a world-leading jurisdiction SLIDE 9 - Double the global average gold grade 1. Represents 100% of measured and indicated resources, inclusive of mineral reserves, of which 50% is 1. 2023 average grade of measured and indicated resources, inclu
Slide 32: Endnotes
ENDNOTES SLIDE 17 - Extraordinary leverage to gold SLIDES 25 & 26- Mineral reserves and Mineral resources 1. Donlin Gold estimates as per the 2021 Technical Report and the S-K 1300 Technical Report. All dollar figures 1. Mineral Reserves are reported within the pre-feasibility pit designs, and suppo
Slide 33: Endnotes
ENDNOTES SLIDE 25 - 2022 drill program consistently delivered among the best assay results in the gold industry globally 1. See media release from January 19, 2023 titled “Donlin Gold Announces Final Assay Results For 2022 Drill Program”. Significant intervals represent drilled intervals and not nec
Slide 34: NOVAGOLD Resources Inc.
NOVAGOLD RESOURCES INC. Mélanie Hennessey Suite 1860 – 400 Burrard Street VP, Corporate Communications Vancouver BC Canada V6C melanie.hennessey@novagold.com 3A6 T: 604 669 6227 TF: 1 866 669 6227 F: 604 669 6272 E: info@novagold.com TSX, NYSE American: NG | novagold.com NOVAGOLD | New Orleans Inves
NOVAGOLD Resources — New Orleans Investment Conference 2023 on 6ix