Novagold Resources Inc. · AMEX:NG
Novagold Resources — 2025 Swiss Mining Institute Conference
29 slides from Novagold Resources's conference presentation, Mar 18, 2025
Slide 1: 2025 Swiss Mining Institute Conference
2025 SWISS MINING INSTITUTE CONFERENCE March 18 -19, 2025 TSX, NYSE AMERICAN: NG | NOVAGOLD.COM
Slide 2: Cautionary Statements Regarding Forward-Looking Statements
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS This presentation includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) looking statements contained herein reflect the beliefs, opinions and projections of NOVAGOLD on th
Slide 3: Why NOVAGOLD?
WHY NOVAGOLD? 3 NOVAGOLD | 2025 Swiss Mining Institute Conference
Slide 4: Donlin Gold is simply unique in the North American gold space
WHY NOVAGOLD ? DONLIN GOLD IS SIMPLY UNIQUE IN THE NORTH AMERICAN GOLD SPACE IN ITS RARE COMBINATION OF KEY ATTRIBUTES: 1 Production Profile Potential to produce 1.1Moz ounces per annum at second quartile cash cost over a 27-year life1 2 High-Grade at Scale 39Moz gold contained in measured and indic
Slide 5: Positioned to become a million-ounce gold producer
1 PRODUCTION PROFILE POSITIONED TO BECOME A MILLION-OUNCE GOLD PRODUCER 1.13 Anticipated to be one of the highest 1.03 annual gold producers in the Americas 0.44 0.42 Select gold-focused development projects in the Americas as shown in 0.38 the accompanying chart 0.32 0.31 0.50 Moz/yr Moz/yr 1 Donli
Slide 6: Has more than double the global average gold grade
2 HIGH-GRADE AT SCALE HAS MORE THAN DOUBLE THE GLOBAL AVERAGE GOLD GRADE Among the world’s highest-grade known open-pit gold deposits While global average gold grades are declining, Donlin Gold’s grade provides 1 resilience through commodity price cycles 2 See endnote for this slide in Appendix See
Slide 7: Significant potential to expand current resource at depth and along strike
3 EXPLORATION POTENTIAL SIGNIFICANT POTENTIAL TO Far Side EXPAND CURRENT Ophir RESOURCE AT DEPTH AND Dome ALONG STRIKE Quartz Snow Queen The next big gold discovery could be at Donlin Gold ▪ A total of 39Moz1 (100% basis) have Lewis Pit been defined in the ACMA and Lewis pits with approximately 1,40
Slide 8: Alaska: World-Leading Mining Jurisdiction
4 JURISDICTIONAL SAFETY ALASKA: WORLD-LEADING MINING JURISDICTION ▪ 2nd largest gold-producing state in the U.S.1 ▪ Alaska ranks 13th best out of 117 mining jurisdictions on the Global Investment Risk Index. Manh Choh One of only 13 mining jurisdictions to receive a AA rating in 2024 (No AAA ratings
Slide 9: Longstanding partnerships with Alaska Native Corporations
5 PARTNERSHIPS Donlin Gold is located on private land LONGSTANDING PARTNERSHIPS WITH owned by Native Corporations, which was designated by law for mining ALASKA NATIVE CORPORATIONS activities five decades ago A generational opportunity Calista Corporation: The Kuskokwim Corporation: ▪ Calista board
Slide 10: Permitting is largely complete
6 PERMITTING PERMITTING IS LARGELY COMPLETE Key Federal permits for the Donlin Gold project are in hand, State permitting is on-track Federal Permitting Completed State Permitting Completed ✓ Final Environmental Impact Statement (EIS)1 ✓ Air Quality Joint Record of Decision (ROD) by the U.S. Army Co
Slide 11: Committed to ecological stewardship, people and communities, and good governance
7 COMMITMENT TO ESG COMMITTED TO ECOLOGICAL STEWARDSHIP, THE WELL-BEING OF OUR PEOPLE AND COMMUNITIES, AND GOOD GOVERNANCE NOVAGOLD’s 2023 sustainability performance NOVAGOLD 11 NOVAGOLD | 2025 Swiss Mining Institute Conference To view the full report, visit https://www.novagold.com/sustainability/
Slide 12: Industry veterans and experts with a track record of success
8 EXPERIENCED TEAM INDUSTRY VETERANS AND EXPERTS WITH A TRACK RECORD OF SUCCESS Over 135 Years of Combined Mining Sector Experience ▪ Experienced management team, most of whom joined NOVAGOLD from major mining companies ▪ Comprehensive knowledge in building and operating large open-pit and undergrou
Slide 13: Strong institutional shareholder support
8 SHAREHOLDER SUPPORT STRONG INSTITUTIONAL SHAREHOLDER SUPPORT 30.4% The 10 largest shareholders hold almost 70% of shares issued and outstanding1 69.6% ALL OTHER SHAREHOLDERS Common shares issued TOP 10 SHAREHOLDERS & outstanding3 : 334,646,571 25.4% Electrum Strategic Resources LP & affiliates Opt
Slide 14: Extraordinary leverage to gold in a place where one can keep it
WHY NOVAGOLD? EXTRAORDINARY LEVERAGE TO GOLD IN A PLACE WHERE ONE CAN KEEP IT1 NPV at 5% NPV at 0% 50.0B $50 $45 40.8B $40 Net Present Value (NPV) (US$ in billions) $35 31.6B $30 $25 22.5B 19.1B $20 17.5B 15.2B $15 13.1B 11.2B 8.8B 7.2B $10 4.9B 3.0B $5 1.2B $0 $1,300 $1,500 $1,700 $2,000 $2,500 $3,
Slide 15: 2024 Highlights
2024 HIGHLIGHTS 15 NOVAGOLD | 2025 Swiss Mining Institute Conference
Slide 16: Donlin Gold Activities
2024 HIGHLIGHTS DONLIN GOLD ACTIVITIES Extensive technical work, environmental initiatives, and engagement throughout the Yukon-Kuskokwim region Community Investments and Engagement ▪ In collaboration with Calista and TKC: ▪ Hosted public open houses in Anchorage, Bethel, and Crooked Creek Environme
Slide 17: Donlin Gold Activities Cont.
2024 HIGHLIGHTS DONLIN GOLD ACTIVITIES CONT. Providing support in permitting process and efficient issuance of remaining State permits and defending in litigation State permitting and litigation Federal litigation ▪ Submitted preliminary design packages for the Dam Safety ▪ In the Federal lawsuit ch
Slide 18: Maintaining a strong treasury
2024 FINANCIAL RESULTS MAINTAINING A STRONG TREASURY $120 Treasury US$ (millions) $100 $80 Spending (millions) 2024 Budget 2024 Actual 2025 Budget $60 Corporate G&A1 $16.9 $17.7 $16.0 $101.2 M Donlin Gold project expenditures 14.3 12.4 21.5 $40 Total $31.2 $30.1 $37.5 $20 $0 See endnotes for this sl
Slide 19: 2025 Activities & Upcoming Catalysts
2025 CATALYSTS 2025 ▪ NOVAGOLD and Barrick held a Donlin Gold workshop in Alaska in September 2024 to review work completed to ACTIVITIES & date, plan for 2025 activities, and discuss next steps ▪ 2025 Donlin Gold budget $43 million (100% basis): UPCOMING – Camp operations with grid drilling to refi
Slide 20: Appendix
APPENDIX 20 NOVAGOLD | 2025 Swiss Mining Institute Conference
Slide 21: Mineral Reserves
APPENDIX MINERAL RESERVES Attributable to Donlin Gold Tonnage Grade Metal content NOVAGOLD *Mineral reserves and mineral resources are reported on a 100% basis and on a 50% basis. NOVAGOLD and Barrick each GOLD kt g/t Au koz Au koz Au own 50% of the Donlin Gold project. Donlin Gold approximate cut-o
Slide 22: Mineral Resources
APPENDIX MINERAL RESOURCES Attributable to Donlin Gold Tonnage Grade Metal content NOVAGOLD *Mineral reserves and mineral resources are GOLD kt g/t Au koz Au koz Au reported on a 100% basis and on a 50% basis. NOVAGOLD and Barrick each own Resources2, exclusive of Reserves 50% of the Donlin Gold pro
Slide 23: Donlin Gold
APPENDIX DONLIN GOLD Key financial economic & production data 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 operations 16.70 2.59 278 Average annual gold production Processing operations 13.70 2.12 228 LOM
Slide 24: Project History
APPENDIX PROJECT HISTORY 1909 1995 2006-2007 2012 2018 2021 • Placer gold • Calista and The • Barrick acquires • Permit application • Received Federal permits • Updated NI 43-101 discovered at Kuskokwim Placer Dome submitted to U.S. Army - Corps published final EIS Technical Report and Snow Gulch Co
Slide 25: Management
APPENDIX MANAGEMENT Greg Lang ▪ Former President of Barrick Gold North America Mélanie Hennessey ▪ 20 years of experience in financial markets, President ▪ 40+ years of experience building & operating major VP, Corporate corporate governance, Indigenous relations, & CEO open-pit and underground mine
Slide 26: Board of Directors
DONLIN GOLD BOARD OF DIRECTORS Dr. Thomas Hume ▪ Chairman and CEO of The Electrum Group LLC, a privately held Kaplan natural resources investment management company that Kyle ▪ Former Executive VP and CFO of Dundee Precious Metals Serves as director of Plum Acquisition Corp. III Chairman controls a
Slide 27: Endnotes
APPENDIX ENDNOTES SLIDE 4 – Donlin Gold is simply unique in the North American gold space in its rare combination of key attributes SLIDE 7 – Significant potential to expand current resource at depth and along strike 1. Anticipated annual gold production during full life of mine if put into producti
Slide 28: Endnotes
APPENDIX ENDNOTES SLIDE 14 – Extraordinary leverage to gold in a place where one can keep it The economic parameters are derived from the NI 43-101 Technical Report on the Donlin Gold 1. Donlin Gold estimates as per the 2021 Technical Report and the S-K 1300 Technical Report Summary, except as Proje
Slide 29: 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 Frank Gagnon F: 604 669 6272 Manager, Investor Relations E: info@novagold.com frank.gagnon@novagold.com
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