Novagold Resources Inc. · AMEX:NG
Novagold Resources — Investor Presentation (November 2022)
31 slides from Novagold Resources's investor presentation, Nov 1, 2022
Slide 1: 2022 November Corporate Presentation
2022 November Corporate Presentation TSX, NYSE American: NG | novagold.com
Slide 2: Cautionary 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 This presentation includes certain “forward-looking information” and “forward-looking statements” (collectively “forw
Slide 3: Excellent additional assays from 2022 drill program
DONLIN GOLD Excellent additional assays from 2022 drill program Yielding more high-grade gold intercepts Top five intervals based on drilled grade-thickness1 Drilled Date Grade Hole ID From To Thickness Reported (g/t Au) (m) DC22-2068 11/1/2022 117.52 159.80 42.28 30.68 DC22-2077 11/1/2022 150.11 19
Slide 4: 2022: largest program in more than a decade
DONLIN GOLD 2022: largest program in more than a decade Drill program $38M • Grid drilling (mineralization continuity and geologic structural controls in three areas of the deposit) • In-pit and below pit exploration • Waste Rock Facility condemnation drilling • Platform mapping to confirm mineraliz
Slide 5: Decades of government and stakeholder engagement
DONLIN GOLD Decades of government and stakeholder engagement Working together to take the Donlin Gold project up the value chain ▪ The Donlin Gold project lands are owned by the Alaska Native Corporations (Calista Corporation and The Kuskokwim Corporation - TKC) and were selected specifically for mi
Slide 6: 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 ✓ Joint Record of Decision (ROD) by the Army Corps of ✓ Alaska Pollutant
Slide 7: Permitting update
DONLIN GOLD Permitting update Current progress ▪ The Alaska Department of Environmental Conservation (ADEC) Division of Water upheld “Federal permitting in Alaska was a the 401 Certification of the Clean Water Act (CWA). The decision is under further legal tremendous achievement and a review by the
Slide 8: Health & Safety
DONLIN GOLD Health & Safety Committed to providing an environment in which all our people make it home safe everyday ▪ Donlin Gold worked with our dedicated community partners in Alaska and in the Yukon-Kuskokwim (Y-K) region to execute the largest drill program at Donlin since 2007, while protectin
Slide 9: Community
Community Mutually beneficial community investments to achieve broader goals 2022 Donlin Gold “In It for the Long Haul” backhaul project ▪ Contributing to and participating in the fifth annual “In It for the Long Haul” Backhaul Project – to collect, remove, and safely dispose of household hazardous
Slide 10: Maintaining a strong treasury
NOVAGOLD Maintaining a strong treasury Largest spending for Donlin Gold in over a decade Due from Newmont $132M cash and term deposit balance on August 31, 2022 in July 20231 $132M $25M Treasury $0 $50 $100 $150 $200 US$ (millions) 2022 Budget2: Donlin Gold project expenditures $32M Corporate G&A $1
Slide 11: Donlin Gold: a tier-one asset in a tier-one jurisdiction
DONLIN GOLD Donlin Gold: a tier-one asset1 in a tier-one jurisdiction2 Among largest gold development asset with strong, investor-friendly attributes SIZE GRADE EXPLORATION POTENTIAL 39 million gold ounces 2.24 g/t4 Au more than contained in measured double the world average Only 5% of 489 sq km lan
Slide 12: Positioned to become a million-ounce gold producer
DONLIN GOLD Positioned to become a million-ounce gold producer1 Anticipated to be one of the highest gold producers in the industry Donlin Gold’s 1.20 1.101 27-year mine life Projected annual gold production (millions of ounces) 1.03 1.00 39 Moz3 over a 27-year mine life 1.1 Moz/yr1 0.80 0.60 0.39 0
Slide 13: Double the global average gold grade
DONLIN GOLD Double the global average gold grade1 Among the world’s highest-grade known open-pit gold deposits 2.24 g/t While global average gold grades are declining, Donlin 1.03 Gold’s grade g/t provides resilience through commodity price cycles Global average grade1 Donlin Gold average grade2 See
Slide 14: 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 along strike ▪ From 2006 to 2011, M&I Far Side resources increased 135% (16.6Moz1 to 39.0Moz2 on 100% Queen basis) Snow Quartz Ophir ▪ Gold resource defined with Dome approximately 1,400
Slide 15: Great leverage in a place where you can keep the fruits of your leverage
DONLIN GOLD Great leverage in a place where you can keep the fruits of your leverage Comparing the top three gold producing operations2 and five largest gold development projects3 Donlin Gold Muruntau Livengood Olimpiada Projects/ M&I* Grade (g/t) Operations Sukhoi Log Gold development projects: Don
Slide 16: Alaska Native Corporation partnerships elevate the project
DONLIN GOLD Alaska Native Corporation partnerships elevate the project Donlin Gold has life-of-mine agreements with Alaska Native Corporations Calista and TKC Land valuable for resource potential was selected by regional Alaska Native Corporations, and resource development companies were invited by
Slide 17: Promises kept, excellent partnerships
NOVAGOLD Promises kept, excellent partnerships Track record of converting company goals into shareholder value Successful strategic repositioning as a Aligned on project strategy and timeline with Steady advancement of Donlin Gold up the value chain pure gold play Barrick Gold ▪ 2012: Spin-out of 10
Slide 18: Significant value upside with higher gold prices
DONLIN GOLD Significant value upside with higher gold prices $35.0 31.6B $30.0 ▪ Project return increases Net Present Value (NPV) (US$ in Billions) substantially with higher gold prices1 $25.0 22.5B ▪ Good payback at a broad range of gold $20.0 17.5B prices ▪ Long mine life offers $15.0 13.1B high l
Slide 19: Strong institutional shareholder and management support
NOVAGOLD Strong institutional shareholder and management support The 10 largest shareholders represent 67.1% of shares issued and outstanding1 Executive Officers’ ownership has increased to ~2.8 million shares2 since joining the company 32.9% 67.1% all other top 10 shareholders shareholders 1.7 25.4
Slide 20: Upcoming Catalysts
DONLIN GOLD Upcoming Catalysts Current progress • Final assay results from 2022 drill program expected early 2023 • Optimizing different mining scenarios, refining engineering studies, continuing community outreach, and advancing permitting actions • Feasibility study decision “The 2022 drill campai
Slide 21: Why Invest in NOVAGOLD?
Why Invest in NOVAGOLD? SIZE 39Moz gold contained in measured and indicated mineral resources2 PARTNERSHIPS LEVERAGE GRADE JURISDICTION Time-tested partnerships with Excellent leverage to 2.24 g/t3 Au, more Donlin Gold Alaska is a premier Native Corporations and a rising gold price mining jurisdicti
Slide 22: Appendix
Appendix 22 NOVAGOLD | 2022 November Corporate Presentation
Slide 23: Mineral reserves
Mineral reserves Attributable to Donlin Gold Tonnage Grade Metal Content NOVGAOLD *Mineral reserves and GOLD kt g/t Au koz Au koz Au mineral resources are reported on a 100% basis Reserves1 and on a 50% basis. Proven 7,683 2.32 573 287 NOVAGOLD and Barrick each own 50% of the Probable 497,128 2.08 3
Slide 24: Mineral resources
Mineral resources Attributable to Donlin Gold Tonnage Grade Metal content NOVGAOLD *Mineral reserves and GOLD kt g/t Au koz Au koz Au mineral resources are reported on a 100% basis Resources2, exclusive of Reserves and on a 50% basis. NOVAGOLD and Barrick Measured 869 2.23 62 31 each own 50% of the
Slide 25: Donlin Gold
Donlin Gold S-K 1300 Technical Report – Donlin Gold Project, Alaska, USA dated November 30, 2021 (100% basis) 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 operatio
Slide 26: Management
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 evaluation
Slide 27: Board of directors
Board of directors Dr. Thomas ▪ Chairman and CEO of The Electrum Group LLC, a privately ▪ Chairman of Glencore plc, and director of Trilogy Metals and held natural resources investment management company Kalidas Dundee Precious Metals Inc. Kaplan that controls a diversified portfolio of precious and
Slide 28: Endnotes
Endnotes SLIDE 3 – Excellent additional assays from 2022 drill program 1. Significant intervals represent drilled intervals and not necessarily true thickness of mineralization. 1. Represents average grade of measured and indicated mineral resources, inclusive of mineral Except as specifically discl
Slide 29: Endnotes
Endnotes SLIDE 14 - The next big gold discovery could be at Donlin Gold SLIDE 17 - Promises kept, excellent partnerships 1. Represents measured and indicated mineral resources previously reported by NOVAGOLD and 1. As per the media release titled “NovaGold Shareholders Overwhelmingly Approve the Nov
Slide 30: Endnotes
Endnotes SLIDE 21 – Why invest in NOVAGOLD? Mineral Reserves do not have demonstrated economic viability. Inferred Resources are in addition to Measured and Indicated Resources. Inferred Resources have great uncertainty as to their existence 1. NOVAGOLD sold its 50% ownership of the Galore Creek pro
Slide 31: TSX, NYSE American: NG | novagold.com
TSX, NYSE American: NG | novagold.com NOVAGOLD RESOURCES INC. Mélanie Hennessey Suite 1860 – 400 Burrard Street VP, Corporate Communications Vancouver BC Canada V6C 3A6 melanie.hennessey@novagold.com T: 604 669 6227 TF: 1 866 669 6227 F: 604 669 6272 E: info@novagold.com 31 NOVAGOLD | 2022 November
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