NG.TO · 2020-06-24

NOVAGOLD Reports Second Quarter 2020 Financial Results and Provides Update on Donlin Gold Project: Donlin Gold Drill Program Is Resumed with Four Re-Mobilized Rigs Strong Focus on COVID-19 Health and Safety Measures Maintained

Mine Development & Operations Financials Exploration Programs

- - in - 

- p roject (“Donlin Gold”

p roject”) in Alaska.

grade zones - end

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 s the plus . amounting to be paid 24 - Vancouver, British Columbia – NOVAGOLD RESOURCES INC.

, TSX 20 20 an on D y 31 20 are presented in the consolidated financial

Q with the SEC that is available on the Company's

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, through ld  -

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are to

six feet of distance in eating areas and living quarters . S - .

T  are ing -  p roject.

of the

further
- p roject’s



 and ) , continue d

efforts
- ( Y - K ) communities . S , we

 Delivered f local Tribal councils to coordinate and deliver food and supplies to communities now without regular air

ed , a er for  village and -  -

 -

and -
by -
M obilization of F D R A dvance Donlin Gold with C omprehensive COVID - 19 H P rotocols in P

- - , ska - y s requesting all pe - ;

. Out - of - s tate - to site . Employees are screened for symptoms and maintain , if needed, /or s cont , due to COVID - . -

takin
- -
  - K region to ensure safety

busi ness contracts, and participation agreements as the project advances. Drilling for Value Enhancement p - - p roject.The 2020 Donlin Gold drill program is part of this effort. The objective of this drill campaign, the largest in 12 years, is

future mine.

’ t

end.

and

The drill program.

’ ( )

of -Way (ROW) lease for the buried natural gas pipeline on January 17, 2020. On February 6, 2020, Cook

2020, Earthjustice, representing ONC, Chevak Native Village, Chuloonawick Native Village, Native Village of Eek, and of the denial of the ROW lease issuance reconsideration request in the Superior

. The Company the he .

A O A sset in a T O J urisdiction

at approximately

1 – defines its rarity. Very few gold assets began

are

always important to the project – is a key attribute to ensure the

e ² 3 . of - small - s -

both stealth and brazen – -

Political and economic instability will only exacerbate growing discrepancies regarding jurisdictional risk in the T hese attributes render - stage - pit

its -

will be to P artnerships with S takeholder s during the P

- - Alaskan - to ,

, closest to the project, to distribute food and supplies to residents homebound due to health issues, quarantine

the reg

K r (distri
101 – - 101”).

3 Donlin Gold grade r ed to - 4 media

T - -

, - , funded ,

ha ed.

and a -

s to fund operations.

s NOVAGOLD

wheth - , se th e , .

, , for their long - to the . f NO for To we regularly engage with and who can attest to the high standard of

term

. port and have shown remarkable steadfastness as we continue to deliver on our strategy. W e are truly grateful to you.

, t , and to to W e wish

Donlin Gold –	4,	215 4, 198 2,	101 9 ,
		6,413 ( (1, 861 1	1 4 ,	1 2 , (1 2 , 659 ( 3 ,
	8,087 (		(1 4 ,

(1 ) Includes share - based 5 in the second quarter of 20 20 9 , respectively, $3, 20 9 , respectively.

, l

of Donlin Gold increased from

, l

partially

c t

was

Net cash used in operating activities increased by $0.1 million, due to lower interest income, partially offset by changes in working capital. Net cash provided from (used in) investing activities included a $1.4 million increase in

- - relat ed to withholding taxes paid on vested performance share units.

3 4 . 3 million in cash and term deposits as of 20 are and .

20 20 Outlook 3 1 million in 20 , 20 for $ 1 1 million for general and administrative costs.

’s 20 are to c resp onsibility program.Conference Call & Webcast Details 2 5 20 -

1 - 800 - 319 - 4610 1 - 604 - 638 - 5340

- -year mine life on a 100% basis. The Donlin Gold project has substantial exploration potential beyond the designed

5 S econd U F easibility S tudy ein) . Donlin Gold measured resources of approximately 8 Mt

101.

or “FSU2”).

101.

669 - - 866 - 669 - 6227

- - -

-looking state -

- 101”)

—

amount

- - - On October 31, 2018, the SEC adopted a final rule (“New Final Rule”) that will replace SEC Industry Guide 7 with new disclosure

10 1. Companies must comply with the New Final Rule

the N

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