Slide 1: Donlin Gold Project
Donlin Gold Project Site Tour Presentation – June 19, 2025
Slide 2: Cautionary Statements
Cautionary Statements Regarding Forward-Looking Statements This presentation includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable securities legislation, including the United States Private Securi
Slide 3: Donlin Gold Management
Donlin Gold Management Todd Dahlman ▪ Joined Donlin Gold as General Manager in April 2025, bringing four decades of global mining experience and a proven record in operational General Manager excellence, team leadership, and community engagement. ▪ Before joining Donlin Gold, he served as Vice Presi
Slide 4: Donlin Gold Org Chart: Main HR/G&A Employees
Donlin Gold Org Chart: Main HR/G&A Employees Primary Consultants Perkins Coie, Counsel (Alaska) Arnold and Porter, Counsel (DC) Larry Enloe, Metallurgy Chris McNeese, IT 4
Slide 5: Agenda
Agenda ▪ Part 1 Executive Summary & Introduction to Alaska ▪ Part 2 History of the Project ▪ Part 3 Community Engagement ▪ Part 4 Environment ▪ Part 5 Permitting ▪ Part 6 Geology & Resource ▪ Part 7 Mining ▪ Part 8 Processing ▪ Part 9 Infrastructure ▪ Part 10 Exploration Upside ▪ Part 11 Capital & O
Slide 6: Executive Summary
Executive Summary ▪ Ownership: 100% (60:40 NOVAGOLD/Paulson Advisers LLC) ▪ Location: Southwest Alaska, approximately 10 miles north of the village of Crooked Creek – Yukon-Kuskokwim Delta area ▪ Geological Region: Kuskokwim Gold Belt ▪ Stage: Development Project Overview Life of Mine: 27 years Thro
Slide 7: Why Donlin Gold?
Why Donlin Gold? DONLIN GOLD IS SIMPLY UNIQUE IN THE GLOBAL GOLD SPACE IN ITS RARE COMBINATION OF KEY ATTRIBUTES: Production Profile Potential to produce 1.1 Moz annually over 27 years1 at cash costs in the lower half of the industry’s cost range High-Grade at Scale 39 Moz gold contained in measured
Slide 8: Project Highlights
Project Highlights ▪ Reserves: 33.9 Moz Au (504.8M tonnes ore)1 ▪ Resources: 5.5 M&I Moz (excluding P&P) and 6.0 Inferred Moz1 ▪ Mine Life: ~27 years Donlin Gold Slated to be a State-of-the-Art ▪ Production: Year 1-5 – 1.5 Moz/year, LOM – 1.1 Moz/year Significant Mine ▪ Operation: Open-pit, conventi
Slide 9: Part 1: An Introduction to Alaska
Part 1: An Introduction to Alaska
Slide 10: Alaska: The Last Frontier
Alaska: The Last Frontier ▪ Alaska has 190M acres of Federal, State, and Native lands open for mineral-related activities ▪ Purchased from Russia in 1867 for $7.2M ▪ Klondike Gold Rush brought thousands to Alaska ▪ Alaska is the second largest gold-producing state in the U.S. ▪ Became 49th state in
Slide 11: Demographics
Demographics ▪ Population of 743,756 - ranked 49th in USA ▪ 54% Anchorage / Mat-Su Region ▪ 14% Interior Region (Fairbanks, Denali, Yukon-Koyukuk) ▪ 11% Gulf Coast Region (Kenai, Kodiak, Chugach) ▪ 7% Southeast Region (Juneau, Ketchikan, Sitka) ▪ 4% Southwest Region (Bethel, Bristol Bay, Kusilvak, A
Slide 12: Key Events in Alaska
Key Events in Alaska 1959 Official proclamation admitting Alaska as the 49th state signed 1968 Discovery of North Slope oil 1971 Alaska Native Claims Settlement Act (ANCSA) enacted 1977 Trans Alaska Pipeline System (TAPS) completed 1980 Alaska National Interest Lands Conservation Act (ANILCA) enacte
Slide 13: ANCSA Corporations
ANCSA Corporations ▪ Alaska Natives relinquished title claims in exchange for right to select lands and the underlying resources ▪ 12 Alaska Regional Corporations – granted rights to select lands valuable for their natural resources ▪ 70% of natural resource revenues shared among all Regional Corpor
Slide 14: Government
Government Juneau / Anchorage Executive Branch ▪ Juneau is the state capital; home to ▪ Governor: Mike Dunleavy (R) Legislature and Governor’s residence ▪ Lt. Governor: Nancy Dahlstrom (R) ▪ Anchorage hosts many state and federal ▪ Attorney General: Treg Taylor (R) agencies and executive offices Leg
Slide 15: Federal and State Representatives
Federal and State Representatives Governor Mike Dunleavy o Elected in 2018 and re-elected in 2022 o Former teacher, principal and superintendent in Alaska o Former owner of an educational consulting firm and worked on numerous statewide educational projects o First Republican Governor in Alaska to w
Slide 16: Alaska Economy – Job Growth and Economic Impact
Alaska Economy – Job Growth and Economic Impact ▪ Employment is primarily in government and industries such as natural resource extraction, shipping and transportation ▪ Job Growth: Alaska's labor force added approximately 6,000 jobs in 2024, marking a 1.9% increase over the previous year. This grow
Slide 17: Alaska Budget & Permanent Fund
Alaska Budget & Permanent Fund ▪ The Alaska Permanent Fund was established in 1976 to set aside a share of the revenues from oil production for future generations of Alaska: ▪ The fund pays a dividend each October to Alaska residents ▪ Oil and gas revenues remain the largest component of Alaska’s ec
Slide 18: An Educated Workforce
An Educated Workforce ▪ Four decades of oil & gas production has developed a skilled workforce in Alaska ▪ Alaska offers a quality of life attractive to many looking for jobs ▪ Large engineering, construction, transportation, and logistics companies able to service resource companies ▪ Workforce dev
Slide 19: Top Private Sector Employers
Top Private Sector Employers ▪ 5,000+ Providence Health Services ▪ 4,000+ Trident Seafoods, Alaska Native Tribal Health Consortium ▪ 3,000+ Arctic Slope Regional Corporation, Princess Cruises, GCI ▪ 2,000+ NANA Regional Corporation, Carrs Safeway, Silver Bay Seafoods, South Central Foundation ▪ 1,00
Slide 20: The Alaska Advantage
The Alaska Advantage ▪ Well-defined State permitting process ▪ Four large precious metals mines, two base metal mines & one coal mine ▪ Numerous small-scale mines ▪ Natural resource projects integral to the State’s economy ▪ Strong and time-tested community support ▪ Resource-sector associations: ▪
Slide 21: A Thriving Mining Sector
A Thriving Mining Sector 21 Source: Alaska Miners Association- Alaska’s Mining Industry Report August 2024
Slide 22: State Supporting Development of Resource Industry
State Supporting Development of Resource Industry ▪ New oil tax structure adopted in 2013 to encourage further investment ▪ Alaska Provides two tax incentives to attract new mining development: ▪ Up to $20M deduction over a 15-year period for new mines ▪ 3.5-year exemption from the Alaska Mining Lic
Slide 23: Part 2: History of the Project
Part 2: History of the Project
Slide 24: Surrounding Region
Surrounding Region 56 TRIBES IN CALISTA REGION WITH POPULATIONS OF 50 – 600 24
Slide 25: Project Area of Influence
Project Area of Influence LARGER THAN UTAH OR IDAHO – 88,000 SQUARE MILES 25
Slide 26: Project History
Project History 1909 1995 2006-2007 2012 2018 2021 2025 • Placer gold • Calista and The • Barrick acquires • Permit application • Received Federal permits - • Updated NI 43-101 • NOVAGOLD and Paulson discovered at Snow Kuskokwim Corporation Placer Dome submitted to U.S. Army Corps published final EI
Slide 27: About the project
About the project ▪ Calista owns subsurface rights ▪ TKC owns most of the surface, Calista owns some of the surface ▪ Donlin Gold has an Exploration and Lode Mining Lease with Calista ▪ Donlin Gold is owned 60-40 by NOVAGOLD and Paulson Advisers LLC ▪ Donlin Gold has a Surface Use Agreement with TKC
Slide 28: Shareholder Hire (2020-2025)
Shareholder Hire (2020-2025) Shareholder Hire During Field Season (2020-2025) Year Total Employees Avg Shareholder 2020 90 66% 2021 81 57% 2022 114 63% 2023 67 52% 2024 28 47% 2025 35 71% Village Representation During Drilling Seasons (2020-2025) ▪ Nikolai ▪ Quinhagak ▪ McGrath ▪ Kongiganak ▪ Sleetm
Slide 29: Project Timeline
Project Timeline 1. Donlin Gold data as per the 2021 Technical Report and the S-K 1300 Technical Report Summary. 29
Slide 30: Donlin Gold Agreement and Project Structure
Donlin Gold Agreement and Project Structure Project Structure ▪ Donlin Gold LLC is the operating company for the Donlin Gold project, a joint venture between NOVAGOLD (60%) and Paulson Advisers LLC (40%) ▪ Operates under agreements with Alaska Native Claims Settlement Act (ANCSA) landowners, with la
Slide 31: Durable, Long-Term Agreements with Alaska Native Corporations
Durable, Long-Term Agreements with Alaska Native Corporations Calista Mining Lease Term until April 30, 2031, and continues year-to-year thereafter so long as either continuous mining and/or processing operations occur, or payment of an advance minimum royalty is made ▪ NSR royalty from commercial p
Slide 32: Long-standing Engagement with Alaska Native Corporations
Long-standing Engagement with Alaska Native Corporations Donlin Gold is located on private land which was designated by law for mining activities over five decades ago, and owned by Native Corporations A generational opportunity ▪ Calista board selected the land for resource development ▪ Surface Us
Slide 33: Part 3: Community Engagement
Part 3: Community Engagement
Slide 34: Communications
Communications ENGAGING COMMUNITIES THROUGH DIFFERENT MEDIUMS 34
Slide 35: Community Engagement
Community Engagement ▪ Active outreach to 62 stakeholder communities in the region and along the pipeline route ▪ Average population is less than 200 ▪ Frequent village meetings to update stakeholders ▪ In 2024, Donlin Gold had over 14,000 engagements with key individual stakeholders and community o
Slide 36: Health & Safety
Health & Safety ▪ Over 3.0 million man-hours (10+ years) without a lost- time incident (LTI) ▪ Training for safety awareness and emergency preparedness by all employees and contractors ▪ In 2024, Donlin Gold employees received a total of 196 hours of health, safety, and emergency response training ▪
Slide 37: Project Collaboration
Project Collaboration Subsistence Community Advisory Committee formed. 4 meetings have been held to date. SUBSISTENCE COMMUNITY ADVISORY ADVISORY DATROC COMMITTEES COMMITTEE (SCAC) This committee focuses on the relationship between the Donlin Gold PUBLIC + MINE OPERATOR project and subsistence COMMU
Slide 38: Workforce Development
Workforce Development ▪ Promote and enrich youth education: ▪ School visits ▪ Contributions to Calista and TKC scholarship programs ▪ Emphasis on local hire: ▪ Training facilities and internships ▪ Talent bank ▪ On-site workforce has primarily been Calista/TKC shareholders or descendants ▪ At peak i
Slide 39: “In it for the Long Haul” Backhaul Program
“In it for the Long Haul” Backhaul Program ▪ Donlin Gold collaborated with the Village of Napaimute and the Association of Village Council Presidents as the primary supporter of “In it for the Long Haul” backhaul program for the seventh straight year until 2024. ▪ This crucial initiative focuses on
Slide 40: Community Investment
Community Investment CULTURAL PRESERVATION, ENVIRONMENTAL PROTECTION, COMMUNITY WELLNESS & EDUCATION ▪ Crooked Creek capacity building/sustainability ▪ Search and Rescue programs ▪ Alaska Safe Riders ▪ Summer boat safety ▪ Kuskokwim River Watershed Council ▪ Fire and snow removal equipment ▪ Tundra
Slide 41: Current Community Activities
Current Community Activities WORKING TOGETHER AND FORMING LASTING RELATIONSHIPS 41
Slide 42: Working with Communities
Working with Communities ▪ Partnered with the Native Village of Napaimute to complete the first salmon smolt monitoring program in the middle Kuskokwim River ▪ The objective is to address a critical data gap in salmon productivity in the middle Kuskokwim River region, while simultaneously building t
Slide 43: Kuskokwim River Fisheries Projects
Kuskokwim River Fisheries Projects Fish Trap Collection Biological Data Collection Fish Trap Looking Downstream Fish Trap Looking Upstream 43
Slide 44: Part 4: Environment
Part 4: Environment
Slide 45: Key Water Management Facilities
Key Water Management Facilities Lower Contact Water Pond Fresh Water Pond Upper Contact Water Pond Lewis Pit Waste Rock Facility Tailings Storage Facility ACMA Pit & Backfill Mill Ore Stockpiles Tailings Dam Overburden Stockpiles 45
Slide 46: Environmental Studies
Environmental Studies ▪ 20+ years of environmental studies: ▪ Surface and ground water quality and flow ▪ Fisheries and wildlife ▪ Air Quality, meteorology, and Climate ▪ Cultural resources ▪ Geochemistry: Extensive characterization of representative ore, waste rock and tailings samples ▪ Wetlands a
Slide 47: Water Management Planning & Construction
Water Management Planning & Construction ▪ Water management is crucial to the project because: ▪ It ensures a reliable water supply for operations ▪ Prevents environmental contamination from runoff or tailings ▪ Helps maintain regulatory compliance and community trust ▪ Developed detailed surface an
Slide 48: Water Management Plan – Water Balance
Water Management Plan – Water Balance 48
Slide 49: Water Treatment - Operations
Water Treatment - Operations ▪ Water treatment system has been operated successfully at many existing mines and other industrial operations throughout US ▪ State discharge permit establishes rigorous requirements for discharge sampling, analysis, and reporting ▪ All data must be certified by lab and
Slide 50: Alaska Water Quality Standards
Alaska Water Quality Standards ▪ Basis for AWQS is the discharge permit limits, standards must be met at point of discharge (no instream mixing zones) ▪ Ensure that discharge water meets conservative national EPA criteria for protecting human health, all fish species (including salmon), and aquatic
Slide 51: VIDEO: CLOSURE WATER MANAGEMENT
VIDEO: CLOSURE WATER MANAGEMENT 51
Slide 52: Waste Rock Management Categories (WRMC)
Waste Rock Management Categories (WRMC) WRMC Category Description Tonnes (1,000s) NAG 1- 4 and OVB Non-acid generating 2,649,000 PAG 5 PAG but with very long delays (several decades) to onset of ARD 79,100 PAG 6 PAG in the life of the mine (possibly less than a decade) 122,700 PAG 7 PAG but with sho
Slide 53: Waste Rock Placement
Waste Rock Placement ▪ Waste Rock Facility: ▪ NAG 1-4 has no potential to generate acid and would be placed in WRF without any constraints on placement ▪ PAG 5 material would be available for blending with the NAG 1-4 ▪ PAG 6 has the potential to become acid-generating within a decade. Would be isol
Slide 54: Waste Rock Management
Waste Rock Management PAG 6 STORAGE IN WRF PAG 6 will be surrounded by NAG and covered with a “cap” of low-permeability material to minimize infiltration 54
Slide 55: Tailings Storage Facility
Tailings Storage Facility ▪ Maximum diversion of freshwater around TSF ▪ 80 percent of water sent to TSF re- used in process ▪ Cyanide/mercury reduced to very low levels prior to TSF inflow; Final EIS shows no risk to wildlife ▪ TSF fully lined with synthetic liner designed for Alaska conditions ▪ T
Slide 56: VIDEO: TAILINGS STORAGE FACILITY
VIDEO: TAILINGS STORAGE FACILITY 56
Slide 57: How will the Tailings Dam be Constructed?
How will the Tailings Dam be Constructed? ▪ Construction method of the dam ▪ Control systems monitor stability of the dam structure The Donlin tailings dam includes 7 dam lifts (471 ft. Total) Pond 60 mil liner Tailings Starter Dam Underdrain Bedrock Approximately 2500 ft 57
Slide 58: What are the different tailings dam construction methods?
What are the different tailings dam construction methods? Donlin Gold Tailings Dam Dam foundation uses tailings for structural support. Potential point of failure 58
Slide 59: Tailings Dam Construction and Inspection
Tailings Dam Construction and Inspection ▪ The TSF is designed to meet Alaska’s Dam Safety Program Requirements, at a minimum ▪ Independent, state-certified third-party engineers will verify both the construction plans and the execution of the dam’s construction, ensuring compliance with both compan
Slide 60: Design for Closure & Water Management
Design for Closure & Water Management ▪ Objectives/Approach ▪ Minimize footprint ▪ Maximize concurrent reclamation ▪ Manage WRF for long-term stability ▪ Minimize accumulation of water in facilities ▪ Pit lake is key to closure water management; seasonal treatment of pit lake water after filling (50
Slide 61: Closure Water Management (continued)
Closure Water Management (continued) ▪ Engineered cover installed over WRF to limit infiltration, all runoff and seepage managed in open pit ▪ TSF will be dry closed to minimize long-term water management requirements ▪ Water from the TSF pond pumped to open pit ▪ Engineered cover installed to limit
Slide 62: Snow Gulch Mitigation Project
Snow Gulch Mitigation Project ORIGINAL PROJECT COMPLETION 3.2 ac 4.8 ac 62
Slide 63: Snow Gulch Restoration Project
Snow Gulch Restoration Project 63
Slide 64: Tailing Storage Facility – Dry Closure
Tailing Storage Facility – Dry Closure MINIMIZES LONG-TERM POST-CLOSURE OBLIGATIONS Small pond with unaffected Spillway runoff from soil cover 64
Slide 65: Site Development and Closure
Site Development and Closure OPERATIONS YEAR 0 OPERATIONS YEAR 27 BEGINNING OF CLOSURE 50 YEARS AFTER CLOSURE 65
Slide 66: Part 5: Permitting
Part 5: Permitting
Slide 67: Project Lifecycle
Project Lifecycle Engineering & Exploration Feasibility Permitting Operations Closure Construction Prospecting Resource Community Updated Mining Decommissioning Development Engagement Technical Study Mapping Reclamation Baseline Studies Engineering Processing Evaluations Monitoring Environmental Det
Slide 68: Key Permits in Hand
Key Permits in Hand 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 ✓ Alaska Pollutant Dischar
Slide 69: Permitting and Litigation Update
Permitting and Litigation Update State permitting and litigation Federal litigation ▪ Submitted preliminary design packages for the Dam Safety ▪ In the Federal lawsuit challenging the 404 permit and BLM ROW, the Certification to Alaska Department of Natural Resources (ADNR) in Court issued a decisio
Slide 70: Part 6: Geology & Resource
Part 6: Geology & Resource
Slide 71: VIDEO: GEOLOGY
VIDEO: GEOLOGY ea BONLIN = TT DONLIN GOLD PROJECT GEOLOGY
Slide 72: Regional Geology
Regional Geology ▪ Donlin deposits are located in the central Kuskokwim basin ▪ The Kuskokwim Group rocks are mainly sandstone, siltstone, and shale with minor conglomerate ▪ Intermediate tuffs and flows from volcano-plutonic complexes intrude and overlie the Kuskokwim Group ▪ The Kuskokwim basin is
Slide 73: District Geology
District Geology Upper-Cretaceous Kuskokwim Group sediment and igneous 73 rocks
Slide 74: Project Geology
Project Geology ▪Donlin deposits are located in the central Kuskokwim basin ▪The Kuskokwim Group rocks are mainly sandstone, siltstone, and shale with minor conglomerate LEWIS AREA ▪Intermediate tuffs and flows from volcano- plutonic complexes intrude and overlie the Kuskokwim Group ▪The Kuskokwim b
Slide 75: Project Geology
Project Geology ▪ The deposits occur along NNE-trending zones, with lateral extents of 1.5 by 3 km, and vertical continuity exceeding 900 m ▪ Gold mineralization is roughly coeval with rhyodacite intrusions (~70 Ma) ▪ Most of the resource is hosted rhyodacite but mineralized sedimentary rocks are al
Slide 76: Drilling
Drilling1 Year Operator Drillholes Meters 1988-1989 WestGold 125 10,423 1995-2000 Placer Dome 433 99,292 2001-2010 Donlin Gold 1,276 295,438 2017-2023 Donlin Gold 406 101,175 Total 2,240 506,328 1. Drilling summary includes holes not used in the estimation of the Donlin resource model; geotechnical,
Slide 77: Gold Distribution: ≥ 1 g/t
Gold Distribution: ≥ 1 g/t 77
Slide 78: Resource Modeling
Resource Modeling ▪ 1,396 holes (89% are core), 340 km of drilling used in the latest resource model ▪ ACMA & Lewis deposits divided into 9 geologic domains, each bound by structures, domains associated with distinct metallurgical recoveries and rock hardness ▪ Raw assay gold grades capped prior to
Slide 79: Block Model
Block Model ▪ Plan section of pit phases and block model at 5m elevation ▪ Gold grades (g/t) identified using legend at bottom right 79
Slide 80: Block Model Post-Processing
Block Model Post-Processing ▪ Options considered in the throughput rationalization study ▪ 6x6x6m SMU, 30ktpd plant throughput ▪ 6x6x6m & 6x6x12m SMUs, 50ktpd plant throughput ▪ 12x12x12m SMU, 75ktpd plant throughput ▪ 12x12x12m SMU, 100ktpd plant throughput ▪ In various iterations of the study, the
Slide 81: SMUman Results
SMUman Results ▪ Plan section at 5m, ACMA Pit ▪ Legend below states planned material types ▪ 6m_ore = ore to be mined on 6m benches ▪ 6m_omaw = ore mined as waste, 6m benches (planned ore ▪ 6m_wmao = waste mined as ore, 6m benches (planned dilution) ▪ Same types also depicted for planned 12m bench m
Slide 82: Part 7: Mining
Part 7: Mining
Slide 83: Mining
Mining ▪ Mine Design ▪ Pit Phasing ▪ 9 phases in ACMA LW04 ▪ 6 phases in Lewis ▪ 2 pits initially, merge later in the mine life AC08 ▪ Bench height LW02 LW05 ▪ Bulk mining at 12 m AC05 AC04 ▪ Selective mining at 6 m AC07 ▪ LOM stripping ratio ~5.5:1 AC03 LW01 LW03 AC01 AC02 AC06 AC09 83
Slide 84: VIDEO: MINING
VIDEO: MINING 84
Slide 85: Mining
Mining ▪ Production Schedule ▪ <1 year of preproduction ACMA PH05 Lewis PH03 ▪ 25 years of production ▪ 2 years of low-grade stockpile rehandle ▪ Mining Rate ▪ 150M tonnes/year steady state mining rate ▪ 155M tonnes/year peak mining rate 85
Slide 86: Mining – Equipment Requirements
Mining – Equipment Requirements Type Size Qty. Primary Use Electric Hydraulic Shovel 55 yd3 6 Ore & waste excavation Diesel Hydraulic Shovel 55 yd3 1 Ore & waste excavation Large Front-End Loader 53 yd3 3 Ore & waste excavation, stockpile rehandle Medium Front-End Loader 25 yd3 1 Ore & waste excavat
Slide 87: Part 8: Processing
Part 8: Processing
Slide 88: Mineralization
Mineralization ▪ Gold mineralization exists in intrusive dikes & sills (colored in figure), hosted by sandstones, siltstones, and shales of the Kuskokwim Group ▪ ACMA-Lewis mineralization generally associated with arsenopyrite, pyrite, and stibnite ▪ Some graphitic carbon exists and is potentially p
Slide 89: VIDEO: PROCESS
VIDEO: PROCESS me PROCESS
Slide 90: Process Layout and Flowsheet
Process Layout and Flowsheet 90
Slide 91: Production Profile
Production Profile ▪ LOM Gold Production: 30.4Moz Gold – Recovered Ounces (‘000) ▪ Average annual gold production: ▪ 1.1 Moz over the projected LOM ▪ 1.5 Moz over the first full 5 years ▪ 1.4 Moz over the first full 10 years 91
Slide 92: Part 9: Infrastructure
Part 9: Infrastructure
Slide 93: VIDEO: INFRASTRUCTURE
VIDEO: INFRASTRUCTURE kaSoup _- "ENGINEERING & INFRASTRUCTURE
Slide 94: Access & Infrastructure
Access & Infrastructure ▪ Two port facilities ▪ Downriver at Bethel ▪ Upriver at Jungjuk ▪ 43 km road from Jungjuk port to site ▪ 1,500 meter airstrip ▪ Seven water diversion and retention dams ▪ Including Tailings Storage Facility ▪ Waste Rock Facility ▪ Buried natural gas pipeline ▪ Onsite power g
Slide 95: Site Overview
Site Overview ROM ORE Srockrite Pees ONTAGT Contac OND WATER wasTeRack FACILITY TAILINGS STORAGE FACILITY
Slide 96: Transportation Routes
Transportation Routes ANNUAL BARGING TRAFFIC NUMBERS 96 *Trip routes are for visual and do not depict actual route alignment
Slide 97: VIDEO: LOGISTICS
VIDEO: LOGISTICS 97
Slide 98: Bethel Cargo Terminal
Bethel Cargo Terminal PORT LOCATION Currently in permitting by Knik Construction 98
Slide 99: Jungjuk (Angyaruaq) Port
Jungjuk (Angyaruaq) Port Approx. 20 Acres 99
Slide 100: Ocean Barging
Ocean Barging ▪ Linehaul cargo ocean barges load in Seattle/Vancouver, travel to Bethel ▪ Ocean barge size - 380’x96’x22’ ▪ Fuel transferred at Dutch Harbor to double-hull ocean barges 100
Slide 101: Ocean Barges - Lightering
Ocean Barges - Lightering BETHEL OSCARVILLE Ocean Barge PORT Ocean Barge Lightering High river levels early in the River Barge year would usually allow a fully loaded ocean barge to o For most of the season a barge would have to reach Bethel on the tide. offload up to 3,580 st, (1/3 the load) at Osc
Slide 102: River Barging Facts
River Barging Facts JUNGJUK PORT AVERAGE TRAVEL SPEED 194 4.6 LOADED UPRIVER Miles 80 HOURS (Approx.) 24/7 OPERATION mph EMPTY CONTAINER 11.5 DOWNRIVER BETHEL 1 Round Trip 110-day barge season PORT + Load June-September + Unload mph 102
Slide 103: River Barging Facts
River Barging Facts FLEET DESIGN BARGE FLEET BARGE Side View TUG Top View 1350 HP Shallow draft design Double-hull (Fuel Barges) 1 tow = 1 tug + 4 barges Length – 76’ Length – 150’ 2 Cargo Tows Breadth – 32’ Draft Unloaded – 3’ 6” Draft Loaded – 4’ 10” Breadth – 32’ Depth – 8’ Draft Unloaded – 1.5’
Slide 104: Communication Plan
Communication Plan ▪ A person watching the river during the summer might expect to see 3 barge tows a day, going up or down, per 24-hour period ▪ At any time it is likely that at least 1 tow would either be loading or unloading at the ports ▪ Annual meetings (pre and post barging) ▪ Additional bargi
Slide 105: Safety Standards of Barge Contractors
Safety Standards of Barge Contractors ▪ Long history of safely serving mines throughout Alaska and Canada ▪ Greens Creek Mine ▪ Fort Knox Mine ▪ Pogo Mine ▪ Kensington Mine ▪ Red Dog Mine ▪ Minto Mine ▪ Trusted company and employees ▪ Long history of safely transporting goods on river in region 105
Slide 106: Fuel Spill Prevention and Response
Fuel Spill Prevention and Response Fuel tugs carry a supply of oil spill containment and recovery equipment on board Supply of oil spill response supplies would be stored at Jungjuk Port, Bethel and other sites. More detailed planning will be completed prior to the start of operations. DOUBLE-HULL F
Slide 107: Power Plant and Energy Demand
Power Plant and Energy Demand ▪ Requirements ▪ Proven technology ▪ Load following ability ▪ High efficiency ▪ Redundancy (N+2) ▪ 16.6 MW Wartsila combined cycle units ▪ Single steam turbine (16.4 MW) ▪ Initial installation 10 units (182.4 MW) ▪ Two additional units later (215.6 MW) ▪ Similar to Pueb
Slide 108: Buried Natural Gas Pipeline
Buried Natural Gas Pipeline ▪ Pipeline ▪ 316 mile, buried, 14” carbon steel pipeline ▪ Class 1 for entire alignment ▪ 70 million standard cubic feet per day capacity (estimated 30 - 40 demand) ▪ 1,480 psig max allowable operating pressure ▪ Construction ▪ 2 construction spreads, each with 3-4 sectio
Slide 109: VIDEO: PIPELINE
VIDEO: PIPELINE 109
Slide 110: Natural Gas Pipeline Route
Natural Gas Pipeline Route COOK INLET TO DONLIN GOLD – 316 MILES 110
Slide 111: Pipeline: State and BLM Pipeline ROW
Pipeline: State and BLM Pipeline ROW Current permits do not authorize construction. A Notice to Proceed (NTP) is required Fiber Optic Cable to be Co-located near the Pipeline 111
Slide 112: Part 10: Exploration Upside
Part 10: Exploration Upside
Slide 113: VIDEO: EXPLORATION POTENTIAL
VIDEO: EXPLORATION POTENTIAL 113
Slide 114: Exploration Upside
Exploration Upside EXCELLENT EXPLORATION POTENTIAL TO ADD VALUE – AND VALUATION – BY EXPANDING CURRENT RESOURCES ▪ A total of 39 Moz1 (100% basis) of Measured and Indicated Mineral Resources (inclusive of Mineral Reserves) have been defined in in the ACMA and Lewis pits with approximately 1,400 dril
Slide 115: Mineralization Trend
Mineralization Trend ▪ Mineralization exists along a gold in soil geochemical anomaly trend, which coincides with a magnetic low ▪ Additional Resource opportunities exist: ▪ In pit Inferred and Blue Sky Resources ▪ Higher gold price expansion potential ▪ E/SE expansions of ACMA & Lewis Pits ▪ N/NE e
Slide 116: Pit Expansion Potential
Pit Expansion Potential ▪ Reserves based on M&I categorized material inside a $1,200/oz Au design ▪ Resources based on M,I,&I categorized material inside a $1,500/oz Au Whittle shell ▪ At higher Au prices, pit tends to expand toward the S/SE, as well as N/NE P&P Reserve Design $1,200/oz Au MI&I Reso
Slide 117: Exploration Targets Beyond Current Resource
Exploration Targets Beyond Current Resource 117
Slide 118: Upside Potential Summary
Upside Potential Summary Current ▪ P&P Reserves = 33.8 Moz (505 Mt at 2.09 g/t) ▪ M&I Resources = 39.0 Moz (541 Mt at 2.24 g/t) ▪ Inferred Resources = 6.0 Moz (92 Mt at 2.02 g/t) Potential – including only areas of significant drilling ▪ In Pit Blue Sky: In fill drilling needed for encounters of une
Slide 119: Mineralization Trend
. _ 4. DONLIN Mineralization Trend ka GOLD
Slide 120: Part 11: Capital & Operating Costs
Part 11: Capital & Operating Costs
Slide 121: Capital Cost Estimate
Capital Cost Estimate1 Initial Capital Sustaining ($M) Capital ($M) Mining 422.1 742.9 Site Preparation and Roads 268.4 3.2 Process Facilities 1,435.7 - TSF and Reclaim System 140.4 723.5 Utilities 1,473.4 - Ancillary Buildings and Facilities 351.3 96.1 Off Site Facilities 278.7 20.1 Total Direct Co
Slide 122: Projected LOM Operating Costs
Projected LOM Operating Costs1 Total LOM ($M) $/t Processed $/t Mined $/oz Mine Operations 8,430 16.70 2.59 278 Processing Operations 6,916 13.70 2.12 228 Administration 1,762 3.49 0.54 58 Land & Royalty Payments 2,182 4.32 0.67 72 Total 19,289 38.21 5.90 635 1. Donlin Gold estimates as per the 2021
Slide 123: Projected Costs
Projected Costs1 First Full Five Years LOM $/oz $/oz Mining Operations 212 278 Processing Operations 183 228 Administration 46 58 Land & Royalty Payments 37 72 Total Cash Costs $477 $635 Sustaining CAPEX 50 57 Reclamation & Closure 6 10 Total AISC $533 $702 1. Donlin Gold estimates as per the 2021 T
Slide 124: Key Performance Indicators
Key Performance Indicators1 Gold Price Base Case Unit $1,200/oz $1,500/oz $1,700/oz $2,000/oz $2,500/oz Average annual after-tax cash flow $M 883 1,198 1,404 1,713 2,234 (first full five years) Average annual after-tax cash flow $M 530 768 925 1,105 1,436 (27-year LOM) NPV (5%) after-tax $M 202 3,04
Slide 125: Part 12: Technical Work & Next Steps
Part 12: Technical Work & Next Steps
Slide 126: Technical Work & Next Steps
Technical Work & Next Steps ▪ Recent Technical Work ▪ Exploration drilling ▪ Geologic and Resource modeling ▪ Geotechnical drilling and fieldwork ▪ Hydrogeologic drilling and fieldwork ▪ Hydrology modeling ▪ Permitting ▪ Trade-off studies and optimization: mine planning, metallurgy, and infrastructu