Novagold Resources Inc. · AMEX:NG
Novagold Resources — Swiss Mining Institute Forum 2023
30 slides from Novagold Resources's conference presentation, March 2023
Slide 1: Swiss Mining Institute Forum
Swiss Mining Institute Forum March 21 - 22, 2023 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 could prove to be significantly incorrect: our ability to achieve production at any of our mineral exploration and de
Slide 3: 2022 Drill Program Consistently Delivered Among the Best Assay Results
DONLIN GOLD 2022 DRILL PROGRAM CONSISTENTLY DELIVERED AMONG THE BEST ASSAY RESULTS IN THE GOLD INDUSTRY GLOBALLY Top 20 signifiant intervals1 Hole ID Location Date Reported From (m) To (m) Length (m) Grade (g/t Au) Donlin Gold’s largest drill program in 15 years DC22-2068 Divide 11/01/2022 117.52 15
Slide 4: 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 Far Side 8km From 2006 to 2011, M&I Queen resources increased 135% (16.6Moz1 to Snow Quartz Ophir ACMA Pit Dome 39.0Moz2 on 100% basis) Lewis Pit Gold resource defined 3k
Slide 5: Why Invest in NOVAGOLD?
SIZE 39Moz gold contained in measured WHY INVEST IN NOVAGOLD? and indicated mineral resources2 PARTNERSHIPS LEVERAGE BALANCE SHEET Time-tested partnerships with Alaska Native Corporations Excellent leverage to a rising gold price Cash and term deposits of $126 million with $25 million of Donlin Gold
Slide 6: Exclusive Interview with Dr. Thomas Kaplan and Daniela Cambone
NOVAGOLD Exclusive Interview with Dr. Thomas Kaplan and Daniela Cambone “ Gold is marching to a different beat. When people least expect it, gold will go back to $2,000. People will say, it’s been here before. It’ll go to $2,050. People will say, it’s been here before. Then it will go to $2,100 and
Slide 7: Positioned to Become a Million-Ounce Gold Producer
DONLIN GOLD POSITIONED TO BECOME A MILLION-OUNCE GOLD PRODUCER 1 Anticipated to be one of the highest gold producers in the Americas Donlin Gold’s 1.20 27-year mine life 1.101 Projected annual gold production (millions of ounces) 1.03 1.1 1.00 Moz/yr1 0.80 0.60 0.39 0.40 0.40 0.36 0.37 0.3 0.30 0.30
Slide 8: Double the Global Average Gold Grade
DONLIN GOLD DOUBLE THE GLOBAL AVERAGE GOLD GRADE 1 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 1.03 provides resilience through commodity price cycles g/t Global average grade1 Donlin Gold average grade2 Se
Slide 9: Great Leverage in a Place Where You Can Keep It
DONLIN GOLD GREAT LEVERAGE IN A PLACE WHERE YOU CAN KEEP IT Comparing the top three gold producing operations1 and five largest gold development projects2 Olimpiada KSM Projects/ Grade M&I* Sukhoi Log Operations (g/t) Muruntau Gold development projects Livengood Donlin Gold 39.03 2.244 Blackwater 11
Slide 10: Significant Value Upside with Higher Gold Prices
DONLIN GOLD SIGNIFICANT VALUE UPSIDE WITH HIGHER GOLD PRICES $35.0 31.6B Project return increases $30.0 substantially with higher gold Net Present Value (NPV) (US$ in Billions) prices1 Good payback at a broad $25.0 22.5B range of gold prices Long mine life offers high $20.0 17.5B likelihood of
Slide 11: Strong Institutional Shareholder and Management Support
NOVAGOLD STRONG INSTITUTIONAL SHAREHOLDER AND MANAGEMENT SUPPORT The10 largest shareholders represent 66.2% of shares issued and outstanding1 Executive Officers’ ownership has increased to ~2.8 million2 shares since joining the company 66.2% 33.8% top 10 shareholders 25.3% Electrum Strategic Resourc
Slide 12: Decades of Government and Stakeholder Engagement
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 Alaska Native Corporations (Calista Corporation and The Kuskokwim Corporation - TKC) and were selected specifically for mineral developmen
Slide 13: 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 14: Community, Environmental, and Social Investments
DONLIN GOLD COMMUNITY, ENVIRONMENTAL, AND SOCIAL INVESTMENTS Continued stakeholder engagement activities throughout the Yukon-Kuskokwim region Community Investments Community Engagement Funded and participated in health and safety initiatives Crooked Creek, the closest community to the project s
Slide 15: 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 “ Calista Corporation The Donlin Gold Project is important to Calista because of the potential it has not only Land valuable for resource for
Slide 16: 2022 ESG Highlights
NOVAGOLD 2022 ESG Highlights Environmental Governance No instances of non-compliance with any permit requirements or Ongoing, long-term aquatic monitoring program for Crooked 10 Board Members environmental regulations Creek watershed All drill sites and access roads Applied for new Air Quality permi
Slide 17: Maintaining a Strong Treasury
NOVAGOLD Maintaining a strong treasury Due from Newmont $126M cash and term deposit balance on November 30, 2022 in July 20231 $126M $25M $0 $50 $100 $150 $200 2023 Budget2 Donlin Gold project expenditures $17M Corporate G&A $13M Working capital and other items $1M Total $31M See endnotes for this s
Slide 18: Upcoming Catalysts
NOVAGOLD UPCOMING CATALYSTS Steadily advancing the Donlin Gold project up the value chain Update resource model Complete trade-off studies Moving to approval of an updated Feasibility Study v “ We could not be happier with the outcome of this season’s drill program, Donlin Gold’s largest campa
Slide 19: Exclusive Interview with Dr. Thomas Kaplan and Daniela Cambone
NOVAGOLD Exclusive Interview with Dr. Thomas Kaplan and Daniela Cambone “ As an investor, I find that the ability to make money is very much a function of developing a thesis, scrubbing that thesis to the point where one enjoys massive conviction, finding the right assets that will allow one to bene
Slide 20: Why Invest in NOVAGOLD?
SIZE 39Moz gold contained in measured WHY INVEST IN NOVAGOLD? and indicated mineral resources2 PARTNERSHIPS LEVERAGE BALANCE SHEET Time-tested partnerships with Alaska Native Corporations Excellent leverage to a rising gold price Cash and term deposits of $126 million with $25 million of Donlin Gold
Slide 21: Appendix
Appendix 21 NOVAGOLD | 2023 Swiss Mining Institute Forum
Slide 22: Mineral Reserves
MINERAL RESERVES Attributable to Donlin Gold Tonnage Grade Metal content NOVGAOLD *Mineral reserves and mineral resources GOLD kt g/t Au koz Au koz Au are reported on a 100% basis and on a 50% basis. Reserves1 NOVAGOLD and Barrick each own 50% Proven 7,683 2.32 573 287 of the Donlin Gold project. Pr
Slide 23: Mineral Resources
MINERAL RESOURCES Attributable to Donlin Gold Tonnage Grade Metal content *Mineral reserves and mineral resources are NOVGAOLD reported on a 100% basis and on a 50% basis. GOLD kt g/t Au koz Au koz Au NOVAGOLD and Barrick each own 50% of the Donlin Gold project. Resources2, exclusive of Reserves Don
Slide 24: Donlin Gold S-K 1300 Technical Report Summary
DONLIN GOLD S-K 1300 Technical Report Summary – Donlin Gold project, Alaska, USA dated November 30, 2021 (100% basis) Key financial economic & production aata 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
Slide 25: 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 26: Board of Directors
BOARD OF DIRECTORS Chairman and CEO of The Electrum Group LLC, a privately Dr. Thomas 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 27: Endnotes
ENDNOTES SLIDE 3 – 2022 Drill program – top 20 significant intervals SLIDE 7 – Positioned to become a million-ounce gold producer 1. See media release from January 19, 2023 titled “Donlin Gold Announces Final Assay Results For 2022 1. Anticipated annual gold production during full life of mine if pu
Slide 28: Endnotes
ENDNOTES SLIDE 10 – Significant value upside with higher gold prices SLIDE 20 – Why invest in NOVAGOLD 1. Donlin Gold estimates as per the 2021 Technical Report and the S-K 1300 Technical Report Summary. All 1. NOVAGOLD sold its 50% ownership of the Galore Creek project to Newmont in 2018. Deferred
Slide 29: Endnotes
ENDNOTES SLIDES 22 & 23- 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 pit design
Slide 30: NOVAGOLD Resources Inc.
NOVAGOLD RESOURCES INC. Mélanie Hennessey Suite 1860 – 400 Burrard Street VP, Corporate Communications Vancouver BC Canada V6C [email protected] 3A6 T: 604 669 6227 TF: 1 866 669 6227 F: 604 669 6272 E: [email protected] TSX, NYSE American: NG | novagold.com 30 NOVAGOLD | 2023 Swiss Min
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