Novagold Resources Inc. · AMEX:NG
Novagold Resources — Gold Forum Americas, Denver 2024
30 slides from Novagold Resources's conference presentation, September 2024
Slide 1: Gold Forum Americas, Denver
Gold Forum Americas, Denver September 15– 18, 2024 TSX, NYSE AMERICAN: NG | NOVAGOLD.COM
Slide 2: Cautionary Statements Regarding Forward-Looking Statements
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS Forward-looking statements contained in this presentation are based on a number of material assumptions, including but not limited to the following, This presentation includes certain “forward-looking information” and “forward-looking statem
Slide 3: Why NOVAGOLD?
WHY NOVAGOLD? 3 NOVAGOLD | Gold Forum Americas, Denver
Slide 4: Donlin Gold is one of the most attractive Tier 1 gold development assets in the world
WHY NOVAGOLD? DONLIN GOLD IS ONE OF THE MOST ATTRACTIVE TIER 1 GOLD DEVELOPMENT ASSETS IN THE WORLD TODAY1… And 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
Slide 5: Donlin Gold is positioned to become a million-ounce gold producer
1 PRODUCTION PROFILE DONLIN GOLD IS POSITIONED TO BECOME A MILLION-OUNCE GOLD PRODUCER Anticipated to be one of the highest annual gold producers in the Americas Projected annual gold production (millions of ounces) Donlin Gold’s 1.2 1.13 27-year mine life 1.03 1.0 1.13 Moz/yr1 0.8 0.6 0.42 0.44 0.3
Slide 6: Donlin Gold has double the global average gold grade
2 HIGH-GRADE AT SCALE DONLIN GOLD HAS DOUBLE THE GLOBAL AVERAGE GOLD GRADE 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 0.95 provides resilience through commodity price cycles g/t Global average grade1 Donli
Slide 7: Alaska: World-Leading Mining Jurisdiction
3 JURISDICTIONAL SAFETY ALASKA: WORLD-LEADING MINING JURISDICTION ▪ 2nd largest gold-producing state in the U.S.1 ▪ $4.5B value of annual non-fuel mineral production in Alaska (6th highest in U.S.)2 ▪ $1.1B spend on goods and services with 450+ Alaska businesses3 ▪ 11,800 total direct and indirect j
Slide 8: Alaska Native Corporation partnerships elevate the Donlin Gold project
A GENERATIONAL 4 OPPORTUNITY PARTNERSHIPS Donlin Gold is located on private land owned by ALASKA NATIVE CORPORATION Native Corporations, which was designated by law PARTNERSHIPS ELEVATE THE for mining activities five decades ago DONLIN GOLD PROJECT Calista Corporation: The Kuskokwim Corporation: ▪ C
Slide 9: Donlin Gold permitting is largely complete
5 PERMITTING Key Federal permits for the Donlin Gold project are DONLIN GOLD PERMITTING IS secured, State permitting is on-track, and all LARGELY COMPLETE challenges to date have been unsuccessful Federal Permitting Completed State Permitting Completed ✓ Final Environmental Impact Statement (EIS)1 ✓
Slide 10: Industry veterans and experts with a track record of success
6 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 11: The next big gold discovery could be at Donlin Gold
7 EXPLORATION POTENTIAL THE NEXT BIG GOLD DISCOVERY COULD BE AT DONLIN GOLD Significant potential to expand current resource at depth and along strike 8km Far Side Queen Snow Quartz Ophir ACMA Pit Dome Lewis Pit ▪ A total of 39Moz1 (100% basis) have 3km been defined in the ACMA and Lewis pits with a
Slide 12: Extraordinary leverage to gold
DONLIN GOLD “In an environment where gold is hitting new highs, yet gold equities remain deeply undervalued, astute investors should take note. The current opportunity is EXTRAORDINARY LEVERAGE TO GOLD as compelling as any we’ve seen in the history of IN A PLACE WHERE ONE CAN KEEP IT the gold market
Slide 13: Current State of Play
CURRENT STATE OF PLAY 13 NOVAGOLD | Gold Forum Americas, Denver
Slide 14: Donlin Gold Project History
DONLIN GOLD PROJECT HISTORY 1909 1971-1972 1995 2001 2006-2007 2011-2012 • Placer gold • Alaska Native Claims • Calista and The • Donlin Creek Joint • Barrick acquires • Second Feasibility discovered at Snow Settlement Act Kuskokwim Venture, between Placer Dome Study completed Gulch • Calista Corpor
Slide 15: 2024 Second Quarter Activities
DONLIN GOLD ▪ Advancement of metallurgical test work with a pilot plant in Ontario, Canada to confirm proposed optimizations to the flowsheet ▪ Submission of the preliminary design packages for 2024 SECOND the Dam Safety Certification on June 17, 2024 QUARTER ▪ Progression of regional infrastructure
Slide 16: 2024 Second Quarter Highlights
DONLIN GOLD Extensive outreach and engagement activities throughout the Yukon-Kuskokwim region 2024 SECOND QUARTER HIGHLIGHTS Community Engagement & Government Affairs ▪ Finalized an additional Shared Values Statement in the Y-K region, bringing the total to 17, and appointed eight new community lia
Slide 17: Second Quarter Permitting and Litigation Activities
DONLIN GOLD Providing support in permitting process and efficient issuance of remaining State-level permits and SECOND QUARTER PERMITTING defending Federal and State permits in litigation AND LITIGATION ACTIVITIES State permitting and litigation activities Federal litigation activities and bipartisa
Slide 18: NOVAGOLD's 2023 Sustainability Report
NOVAGOLD NOVAGOLD’S 2023 SUSTAINABILITY REPORT Featuring compliance with Global Reporting Initiative Standards and climate change disclosure To view the full report, visit https://www.novagold.com/sustainability/ 18 NOVAGOLD | Gold Forum Americas, Denver
Slide 19: 2024 Activities & Upcoming Catalysts
NOVAGOLD ▪ NOVAGOLD congratulates Peter Adamek, a seasoned financial executive with over 20 years in the mining sector, on his appointment as Vice President 2024 and Chief Financial Officer ▪ NOVAGOLD remains committed to commencing a full ACTIVITIES & bankable Feasibility Study to optimally positio
Slide 20: Maintaining a Strong Treasury
MAINTAINING A STRONG TREASURY Cash and term deposits balance on May 31, 20241 Treasury $112.6M $0 $25 $50 $75 $100 $125 US$ (millions) Actual Forecast 2024 Spending (millions) Year-to-date Full Year Corporate G&A2 $9.0 $16.9 Donlin Gold project expenditures 7.3 14.3 Total $16.3 $31.2 See endnotes fo
Slide 21: Strong Institutional Shareholder Support
NOVAGOLD STRONG INSTITUTIONAL SHAREHOLDER SUPPORT The 10 largest shareholders represent almost 70% of shares issued and outstanding1 31.7% 68.3% TOP 10 SHAREHOLDERS ALL OTHER SHAREHOLDERS 25.4% Electrum Strategic Resources LP & affiliates Common shares issued & outstanding3 : 334,430,713 Options3: 9
Slide 22: Appendix
APPENDIX 22 NOVAGOLD | Gold Forum Americas, Denver
Slide 23: Mineral Reserves
APPENDIX MINERAL RESERVES Attributable to Donlin Gold Tonnage Grade Metal content NOVAGOLD *Mineral reserves and mineral resources GOLD kt g/t Au koz Au koz Au reported on a 100% basis and on a 50% basis. Reserves1 NOVAGOLD and Barrick each own 50% of the Donlin Gold project. Proven 7,683 2.32 573 2
Slide 24: 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% Resources2, exclusive of Reserves basis. NOVAGOLD and Barrick each own 50% of the Donlin Gold pro
Slide 25: 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 26: 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 VP, Corporate corporate governance, indigenous relations, & CEO major open-pit and underground mine
Slide 27: Board of Directors
APPENDIX BOARD OF DIRECTORS Dr. Thomas ▪ Chairman and CEO of The Electrum Group LLC, a privately held natural resources investment management company Kaplan that controls a diversified portfolio of precious and base Hume Kyle ▪ Former Executive VP and CFO of Dundee Precious Metals Chairman metals as
Slide 28: Endnotes
APPENDIX ENDNOTES SLIDE 4 – Donlin Gold is one of the most attractive tier 1 gold assets in the world today… SLIDE 9 – Donlin Gold permitting is largely complete 1. NOVAGOLD defines a Tier One gold development project as one with a projected production life of at 1. Under appeal. Appeals challenging
Slide 29: Endnotes
APPENDIX ENDNOTES SLIDES 23 & 24 - Mineral reserves and Mineral resources 1. Mineral Reserves are reported within the pre-feasibility pit designs, and supported by a mine schedule, Technical Reports and Qualified Persons featuring variable throughput rates, stockpiling and cut-off optimization. The
Slide 30: 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
NOVAGOLD Resources — Gold Forum Americas, Denver 2024 on 6ix