Novagold Resources Inc. · AMEX:NG
Novagold Resources — 2024 RBC Capital Markets Global Mining & Materials Conference
28 slides from Novagold Resources's conference presentation, Jun 12, 2024
Slide 1: 2024 RBC Capital Markets Global Mining & Materials Conference
2024 RBC CAPITAL MARKETS GLOBAL MINING & MATERIALS CONFERENCE June 12 – 14, 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 | 2024 RBC Capital Markets Global Mining & Materials Conference
Slide 4: Donlin Gold is one of the most attractive Tier 1 gold development assets in the world
DONLIN GOLD 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 ov
Slide 5: Maintaining a strong treasury
MAINTAINING A STRONG TREASURY Cash and term deposits balance on February 29, 20241 Treasury $118M $0 $50 $100 $150 US$ (millions) 2024 Forecast Spending Donlin Gold project expenditures $14M Corporate G&A $17M Total $31M See endnotes for this slide in Appendix 5 NOVAGOLD | 2024 RBC Capital Markets G
Slide 6: 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 7: Alaska: world-leading mining jurisdiction
DONLIN GOLD ALASKA: WORLD-LEADING MINING JURISDICTION ▪ 2nd largest gold-producing state in the U.S.1 ▪ $4.5B value of non-fuel mineral production in Alaska (6th highest in U.S.)2 ▪ 11,400 total direct and indirect jobs attributed to Alaska mining industry3 ▪ $1.0B in wages for careers in mining3 ▪
Slide 8: Alaska Native corporation partnerships elevate the project
A GENERATIONAL DONLIN GOLD OPPORTUNITY ALASKA NATIVE CORPORATION Donlin Gold is located on private land owned by Native Corporations, which was designated by law PARTNERSHIPS ELEVATE THE for mining activities five decades ago PROJECT Calista Corporation: The Kuskokwim Corporation: ▪ Calista board se
Slide 9: Positioned to become a million-ounce gold producer
DONLIN GOLD 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 1.13 Moz/yr1 0.8 0.6 0.42 0.44 0.38 0.4 0.31 0.32 0.27 0.29
Slide 10: Double the global average gold grade
DONLIN GOLD 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 0.96 provides resilience through commodity price cycles g/t Global average grade1 Donlin Gold average grade2 See
Slide 11: Extraordinary leverage to gold in a place where one can keep it
DONLIN GOLD “Gold will emerge as the asset class with the most potential this decade, no matter the EXTRAORDINARY LEVERAGE TO GOLD financial or geopolitical backdrop.” IN A PLACE WHERE ONE CAN KEEP IT – “The Upcoming Gold Bull Market: How High Will Gold Prices Go?” Goehring & Rozencwajg (August 31,
Slide 12: 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 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 approximately
Slide 13: NOVAGOLD's 2023 Sustainability Report
NOVAGOLD NOVAGOLD’S 2023 SUSTAINABILITY REPORT Featuring GRI alignment and climate change disclosure To view the full report, visit https://www.novagold.com/sustainability/ 13 NOVAGOLD | 2024 RBC Capital Markets Global Mining & Materials Conference
Slide 14: 2024 First Quarter Highlights
DONLIN GOLD Donlin Gold First Quarter Activities ▪ Completion of the scope of work for resource model update by a third-party consultant ▪ Advancement of metallurgical test work with a pilot plant in Ontario, Canada, to 2024 FIRST QUARTER confirm proposed optimizations to the flowsheet HIGHLIGHTS ▪
Slide 15: First Quarter Highlights (continued)
DONLIN GOLD Considerable outreach and engagement FIRST QUARTER HIGHLIGHTS activities throughout the Y-K region (CONTINUED) Community Investments & Engagement Donlin Gold conducted over 1,700 direct engagements with key stakeholders from 62 Y-K communities ▪ Finalized an additional Shared Values Stat
Slide 16: Permitting is largely complete
DONLIN GOLD Key Federal permits for the project have been PERMITTING IS LARGELY COMPLETE received and 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 ✓ A
Slide 17: Current permitting and litigation activities
DONLIN GOLD Providing support in permitting process and efficient issuance of remaining State-level permits and CURRENT PERMITTING AND defending Federal and State permits in litigation LITIGATION ACTIVITIES State permitting and litigation activities Federal litigation activities and bipartisan outre
Slide 18: 2024 Activities & Upcoming Catalysts
NOVAGOLD ▪ The Donlin Gold LLC board approved a budget of $28.5 million (100% basis) for 2024 comprising: – Mine planning work – Metallurgical test work (pilot plant) 2024 – Regional infrastructure support planning – Resource modelling ACTIVITIES & – Geoscience hydrology and closure planning – Advan
Slide 19: Strong institutional shareholder and management support
NOVAGOLD STRONG INSTITUTIONAL SHAREHOLDER AND MANAGEMENT SUPPORT The 10 largest shareholders represent almost 70% of shares issued and outstanding1. The Company’s Named Executive Officers collectively held 3.1M2 NG shares as of March 31, 2024 34.3% 65.7% TOP 10 SHAREHOLDERS1 ALL OTHER SHAREHOLDERS 2
Slide 20: Appendix
APPENDIX 20 NOVAGOLD | 2024 RBC Capital Markets Global Mining & Materials Conference
Slide 21: Mineral Reserves
APPENDIX MINERAL RESERVES Attributable to Donlin Gold Tonnage Grade Metal content NOVAGOLD *Mineral resources reported on a 100% basis GOLD kt g/t Au koz Au koz Au and on a 50% basis. NOVAGOLD and Barrick Reserves1 each own 50% of the Donlin Gold project. Proven 7,683 2.32 573 287 Donlin Gold approx
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% Resources2, exclusive of Reserves basis. NOVAGOLD and Barrick each own 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: 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 25: Board of Directors
APPENDIX 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 and held natural resources investment management company Kalidas Dundee Precious Metals Kaplan Former CEO of China Moly Corp and former
Slide 26: Endnotes
APPENDIX ENDNOTES SLIDE 4 – Donlin Gold is the most attractive tier 1 gold development story in the world today… 1. NOVAGOLD defines a Tier One gold development project as one with a projected production life of at SLIDE 10 – Double the global average gold grade least 10 years, annual projected prod
Slide 27: Endnotes
APPENDIX ENDNOTES SLIDES 21 & 22- Mineral reserves and Mineral resources Note Concerning Reserve & Resource Estimates” on slide 2. 1. Mineral Reserves are reported within the pre-feasibility pit designs, and supported by a mine schedule, Technical Reports and Qualified Persons featuring variable thr
Slide 28: NOVAGOLD Resources Inc. contact details
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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