Donlin GOLD Announces Final Assay Results FOR 2021 Drill Program Highlights Include Numerous High-Grade GOLD Intercepts Coupled with Important Grade Continuity 2022 Project Budget is Largest IN over a Decade
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DONLIN GOLD ANNOUNCES FINAL ASSAY RESULTS FOR 2021 DRILL PROGRAM
HIGHLIGHTS INCLUDE NUMEROUS HIGH-GRADE GOLD INTERCEPTS COUPLED
WITH IMPORTANT GRADE CONTINUITY
2022 PROJECT BUDGET IS LARGEST IN OVER A DECADE
February 28, 2022 – Anchorage, AK – Donlin Gold LLC (“Donlin Gold”), owned 50 :50 by Barrick Gold
Corporation (“Barrick”) (TSX: ABX) (NYSE: GOLD) and NOVAGOLD RESOURCES INC. (“NOVAGOLD”) (TSX, NYSE
American: NG), is pleased to report the release of the final set of assay results from the 2021 drill program. The
remaining assay results for the 22 partial drill holes reported in previous releases and complete assay results for
the final 21 drill holes of the 2021 drill program are reported below.
Comprehensive 79-hole, 24,264-meter 2021 drill program produced multiple high-grade gold intercepts.
The results support the existing global resource estimate, the recent modelling concepts, and strategic
mine planning work
With extensive communication and the application of health and safety protocols, COVID-19 cases at site
during 2021 were minimal and there were no lost-time incidents
With the largest project budget in more than a decade, the owners have a plan in place to advance the
Donlin Gold project up the value chain in 2022 and position the project to be able to proceed with the
preparation of an updated feasibility study, subject to Donlin Gold LLC Board approval
Donlin Gold partnered with local communities in 2021 to provide support and resources in health and
safety, environmental management, training and education, as well as cultural initiatives in the Yukon-
Kuskokwim (Y-K) region
Additional State permits for the project were received at the end of 2021 – the Alaska Department of Fish
and Game issued two Special Area Permits required for pipeline facilities. In December 2021, the Alaska
Department of Environmental Conservation approved a third extension of the air quality permit
Statements by the Owners
Barrick President and Chief Executive Mark Bristow said, “It is encouraging to see a significant drill program for
2022 to further increase our understanding of the ore body, driven by our knowledge gained from the 2021
drill program. This year’s drilling campaign will focus on the potential upside of the Acma pit at depth, where
there is still limited drilling, focusing on the upside for the pit. We will also focus on grid drilling on Lewis and
Divide as we also look to un constrain the pit with additional at depth targets. This significant program for
2022 will help guide us on future drill targets and the path forward with the project.”
Greg Lang, NOVAGOLD’s President and CEO, said, “The 2021 drill campaign finished strong with some high-
grade intercepts and some of the best drill results for an open-pit gold project industrywide. The increased
level of activity, with approximately 65 people on site for the 2022 field season and three of four drill rigs
operating at Donlin Gold, continues to build momentum and excitement for the future of the project. It is
invigorating to have drills turning for the first winter program in years. We are grateful to our Native
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Corporation partners at Calista Corporation (“Calista”) and The Kuskokwim Corporation (TKC), as well as to our
contractors, suppliers, local and State partners, who have supported the project and worked with us to reach
these important milestones. With activities well laid out for the year ahead, our combined experienced team
will continue to advance Donlin Gold up the value chain.”
Dan Graham, General Manager of Donlin Gold added, “The expanded 2021 drill program was a success
because of the incredible work by the Donlin Gold team, Calista and TKC, and our collective dedication to the
highest standards of safety, social responsibility, and environmental stewardship. We are grateful that, even
while expanding the 2021 drill program mid-summer, COVID-19 cases at site were minimal and there were no
lost-time incidents. Once built, the Donlin Gold project is expected to provide significant benefits for the Y-K
region and the State of Alaska for generations to come.”
2021 Drill Program Advances Project Knowledge and Lays Foundation for Larger 2022 Program
The 2021 drill program was completed in September with 79 holes drilled for a total of 24,264 meters. The
final set of assay results released today includes assays for 21 complete holes and 22 partial holes,
encompassing the remaining approximate 8,500 meters of length drilled. The primary objective of the 2021
drill program was to validate recent geologic modeling concepts to support future feasibility work and test for
extensions of high-grade zones.
The original 2021 drill program was expanded by 13 drill holes to improve our understanding of the structural
controls on mineralization. This additional drilling has been instrumental in supporting our updated ore
domaining approach and will be expanded in 2022. The drill program included confirmation and extension
drilling that focused on further testing of orebody continuity and structural controls, as well as data collection
for geotechnical and geometallurgical purposes.
The success of the expanded 2021 drill program delivered excellent drill results facilitated by our efficient and
effective onsite team with great attention to the health and safety of our workforce. During the 2021 drill
program season, 70 percent of Donlin Gold direct hires were Alaska Natives from 20 Y-K communities. Out of
approximately 171,310 hours worked, we recorded four cases of COVID-19 at the Donlin Gold project site. The
affected individuals fully recovered. Credit must go to all our dedicated partners, in particular Calista and TKC,
as well as other Tribal groups in the Y-K region who share the objective of protecting community health and
safety. Donlin Gold continues to implement strict COVID-19 mitigation protocols to keep employees, their
families, contractors, and members of the community safe and healthy.
Once the 2021 drill data has been incorporated into an updated resource model, it is anticipated that the
owners will determine updated mining schedules and life of mine business plans prior to shifting to an
updated feasibility study, subject to a formal decision by the Donlin Gold LLC Board to proceed.
Five of the top intervals received from the final set of 2021 assay results released today include:
DC21-2017 intersected 19.00 m grading 18.23 g/t gold starting at 144.53 m drilled depth, including
a sub interval of 14.31 m grading 23.49 g/t gold starting at 144.53 m drilled depth;
DC21-1994 intersected 77.56 m grading 3.51 g/t gold starting at 262.56 m drilled depth , including
a sub interval of 7.91 m grading 12.39 g/t gold starting at 322.94 m drilled depth;
DC21-2015 intersected 43.01 m grading 5.04 g/t gold starting at 27.16 m drilled depth, including a
sub interval of 5.99 m grading 11.81 g/t gold starting at 29.22 m drilled depth;
DC21-2019 intersected 28.23 m grading 4.40 g/t gold starting at 156.26 m drilled depth; and,
DC21-1998 intersected 45.83 m grading 3.04 g/t gold starting at 103.55 m drilled depth.
Earlier assay results from the 2021 drill program were disclosed in media releases on September 2 and
December 1, 2021
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Drill-hole collar locations and five of the top intervals since December 1, 2021 are shown in Figure 1; and a
longitudinal section view of the ACMA and Lewis Deposits is shown in Figure 2
Drill-hole orientations, depths and significant intervals are shown in the Appendix at the end of this
release, in Tables 1, 2, and 3
In Partnership with Local Communities, Donlin Gold Provided Extensive Support to the Y-K Region
Donlin Gold worked with its Alaska Native partners, Calista and TKC, as well as other key representatives of Y-K
communities, to support health and safety, environmental management, training and education, and cultural
initiatives in the Y-K region.
Some of these initiatives included: i) the sponsorship of the Calricaraq (“to practice good health”) team from
the Yukon-Kuskokwim Health Corporation to travel to area villages to support residents and families who have
lost loved ones to suicide – a heightened challenge in remote villages, especially during the COVID-19
pandemic; ii) sponsoring and participating in the Lower Kuskokwim School District’s annual College and Career
fair, held virtually this year due to Covid, with 42 vendors and 100 students in attendance; iii) partnering with
KSKO Radio to purchase and distribute hand-held radios for five middle Kuskokwim villages, expanding the
reach of public radio to communities where internet connectivity is lacking; and iv) collaborating with 26
villages throughout the Y-K region in the fourth annual “In It For The Long Haul” backhaul project last summer
to remove 180,000 pounds of hazardous and electronic waste – the most waste ever removed in a single
season since the project inception.
Donlin Gold 2022 Project Budget is Largest in Over a Decade
The 2022 budget for Donlin Gold LLC (on a 100% basis) is set at $60 million, split equally by the two owners. It
is the largest project budget in more than a decade and is designed to update geologic modelling and
interpretation work for an updated resource model and includes engineering activities for use in an updated
project feasibility study. Approximately 34,000 meters of in-pit, and below-pit drilling is planned under the
current scope, as well as support for fieldwork and permitting for the Alaska Dam Safety Certifications,
environmental studies, and external affairs efforts.
The owners will continue to advance the Donlin Gold project as they have done for many years in a financially
disciplined manner with a strong focus on engineering excellence, environmental stewardship, a strong safety
culture, and active community engagement.
About Donlin Gold
The Donlin Gold project is located in Alaska, the second largest gold-producing state in the U.S. With
approximately 39 million ounces of gold grading 2.24 grams per tonne in the measured and indicated mineral
resource categories (100 percent basis)1, Donlin Gold hosts one of the largest and highest-grade undeveloped
open-pit gold endowments in the world. The planned pits in which the existing resources are sited occupy
only three kilometers of an eight-kilometer mineralized belt, which itself is located on less than five percent of
Donlin Gold’s land position. Current activities at Donlin Gold are focused on the drill program, optimization
efforts, community outreach, and advancing the remaining State permitting actions.
Donlin Gold supports the Alaska Native communities both surrounding the project and within the State as a
whole. This commitment underpins Donlin Gold’s approach to developing the project and is also reflected in
1 Donlin Gold data as per the 2021 Technical Report (as defined herein). Donlin Gold measured resources of approximately 8 Mt grading
2.52 g/t and indicated resources of approximately 534 Mt grading 2.24 g/t, each on a 100% basis, of which Barrick and NOVAGOLD each
own 50%. Exclusive of mineral reserves, Donlin Gold possesses measured resources of approximately 1 Mt grading 2.23 g/t and indicated
resources of approximately 69 Mt grading 2.44 g/t. Mineral resources have been estimated in accordance with National Instrument 43-101
– Standards of Disclosure for Mineral Projects (“NI 43-101”).
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the way in which the asset itself is held. An important factor that distinguishes Donlin Gold from most other
mining assets in Alaska is that the project is located on private land designated for mining activities five
decades ago. Donlin Gold has entered into life-of-mine agreements with Calista, which owns the subsurface
mineral rights and some of the surface land rights, and TKC, a collection of 10 village corporations, which owns
most of the surface land rights, and is committed to providing employment opportunities, scholarships to
Calista and TKC Shareholders, and preferential contract considerations to Calista and TKC. These agreements
also include royalties which are subject to a revenue-sharing structure established in the Alaska Native Claims
Settlement Act of 1971, which resolved Alaska Native land claims and allotted 44 million acres of land for use
by Alaska Native Corporations. Additionally, our long-term commitment to economic development in the
Yukon-Kuskokwim region is exemplified by Donlin Gold’s support of TKC’s initiative to launch energy and
infrastructure projects in middle Kuskokwim villages. These partnerships, activities, and programs are
illustrative of the commitment to sustainable and responsible development of the Donlin Gold project for the
benefit of all stakeholders.
FIGURE 1 Drill Hole Collar Locations
Depicted grid system is based on NAD83 UTM zone 4N coordinates. Longitudinal Section View orientation
below taken at A – A’ orientation depicted above.
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FIGURE 2 Longitudinal Section View of the ACMA and Lewis Deposits
QA/QC Procedures
The QA/QC procedures for the 2021 Donlin Gold project drill program and sampling protocol were developed
and managed by Donlin Gold and overseen by Barrick and NOVAGOLD. The chain of custody from the drill
site to the sample preparation facility was continuously monitored. All samples are HQ-diameter core.
Approximately 94% core recovery was achieved during the 2021 drill program. Core was logged, cut, and
sampled at site by Donlin Gold employees. Samples were primarily collected on one- to two-meter lengths.
Sampled half-core was crushed in Bureau Veritas’ Fairbanks, Alaska sample preparation facility. Crushed
samples were sent to a Bureau Veritas lab in either Vancouver, British Columbia or Juneau, Alaska for
pulverizing and gold assays and pulverized splits to an ALS Limited lab in Vancouver, British Columbia for
multi-element analysis. At least 14 quality control samples (four standards, four coarse blanks, two pulp blanks,
two coarse duplicates, and two pulp duplicates) were inserted into each batch of 80 samples. The review of the
quality control samples did not indicate any bias or error. There are no known factors that would materially
affect the accuracy or reliability of the drill program data referred to in this media release.
Downhole directional surveys were completed on all reported completed holes by Boart Longyear drill
operators, and collar surveys were completed on all holes by Professional Licensed Surveyors from Brice
Engineering LLC.
Each of Bureau Veritas, ALS Limited, Boart Longyear, and Brice Engineering LLC are independent of Donlin
Gold, Barrick, and NOVAGOLD.
Scientific and Technical Information
In mid-2021, NOVAGOLD engaged Wood Canada Limited (“Wood”) to update the Second Updated Feasibility
Study on Donlin Gold completed in 2011 (the “2011 Technical Report”). This update resulted in a report titled
“NI 43-101 Technical Report on the Donlin Gold Project, Alaska, USA” with an effective date of June 1, 2021
(the “2021 Technical Report”). In 2021, NOVAGOLD also engaged Wood to prepare a Donlin Gold technical
report summary in accordance with Subpart 229.1300 of Regulation S-K – Disclosure by Registrants Engaged in
Mining Operations (“S-K 1300”) as of November 30, 2021. The resulting report is titled “S-K 1300 Technical
Report Summary on the Donlin Gold Project, Alaska, USA” (“S-K 1300 Report”), current as of November 30,
2021. Wood incorporated 2020 costs and new gold price guidance to meet the NOVAGOLD’s reporting
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requirements. The resultant 2021 Technical Report and S-K 1300 Report showed no material change to the
previously reported mineral resources or mineral reserves.
NOVAGOLD is a registrant with the SEC and is reporting its exploration results, Mineral Resources, and Mineral
Reserves in accordance with S-K 1300 as of November 30, 2021. While the S-K 1300 rules are similar to
National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) rules in Canada, they
are not identical and therefore two reports have been produced for the Donlin Gold project.
Certain scientific and technical information contained herein with respect to the Donlin Gold project is derived
from the 2021 Technical Report and the S-K 1300 Report. Henry Kim, P.Geo., Senior Resource Geologist, Wood
Canada Limited; Mike Woloschuk, P.Eng., VP Global Business Development & Consulting, Wood Group USA,
Inc.; and Kirk Hanson, MBA, P.E., Technical Director, Open Pit Mining, Wood Group USA, Inc. are the Qualified
Persons responsible for the preparation of the 2021 Technical Report, and each is an independent Qualified
Person as defined by National Instrument 43-101 (“NI 43-101”). Wood prepared the S-K 1300 Report.
Paul Chilson, P.E., who is the Manager, Mine Engineering for NOVAGOLD and a Qualified Person under
NI 43-101, has approved and verified the scientific and technical information related to the 2021 Donlin Gold
project drill program, the 2021 Technical Report and the S-K 1300 Report contained in this media release. To
verify the information related to the drilling program, he has visited the property in the past year; discussed
logging, sampling, and sample shipping processes with responsible site staff; discussed and reviewed assay
and QA/QC results with responsible personnel; and reviewed supporting documentation, including drill hole
location and orientation and significant assay interval calculations.
Octavia Bath, P.Geo., who is a Barrick Mineral Resource Manager and a Qualified Person under NI 43-101 has
reviewed and approved the assay results for the Donlin Gold project contained in this media release.
Barrick Contacts:
Kathy du Plessis
Investor and Media Relations
+44 20 7557 7738
Email: [email protected]
Kevin Annett
CFO, North America
Tel: +1 416-307-3660
www.barrick.com
NOVAGOLD Contacts:
Mélanie Hennessey
Vice President, Corporate Communications
Tel: +1 604-669-6227 or 1-866-669-6227
www.novagold.com
Cautionary Note Regarding Forward-Looking Statements
This media release 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 Securities Litigation Reform Act of
1995. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”,
“estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, “would” or
“should” occur or be achieved. Forward-looking statements are necessarily based on several opinions, estimates and assumptions that
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management of Barrick and NOVAGOLD considered appropriate and reasonable as of the date such statements are made, are subject to
known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, activity, performance, or
achievements to be materially different from those expressed or implied by such forward-looking statements. All statements, other than
statements of historical fact, included herein are forward-looking statements. These forward-looking statements include statements regarding
assay results; the anticipated timing of a decision by the Board of Donlin Gold LLC to prepare a feasibility study update; anticipated benefits
from the recent drill programs including an improved geological model for Donlin Gold; the work program for the 2022 field season; ongoing
support provided to key stakeholders including Native Corporation partners; the potential impact of the coronavirus global pandemic
(COVID-19) on the development of Donlin Gold; the potential development and construction of Donlin Gold; the sufficiency of funds to
continue to advance development of Donlin Gold; perceived merit of properties; mineral reserve and resource estimates; Donlin Gold’s ability
to secure the permits needed to construct and operate the Donlin Gold project in a timely manner, if at all; and legal challenges to Donlin
Gold’s existing permits. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future
events or circumstances are forward-looking statements. Forward-looking statements are not historical facts but instead represent the
management expectations of Donlin Gold’s, Barrick’s and NOVAGOLD’s estimates and projections regarding future events or circumstances
on the date the statements are made.
Important factors that could cause actual results to differ materially from expectations include the need to obtain additional permits and
governmental approvals; the timing and likelihood of permits; the need for additional financing to explore and develop properties and
availability of financing in the debt and capital markets; the spread and impact of COVID-19; uncertainties involved in the interpretation of drill
results and geological tests and the estimation of reserves and resources; changes in mineral production performance, exploitation and
exploration successes; changes in national and local government legislation, taxation, controls or regulations and/or changes in the
administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in the United
States or Canada; the need for continued cooperation between Barrick and NOVAGOLD for the continued exploration, development and
eventual construction of the Donlin Gold project; the need for cooperation of government agencies and native groups in the development and
operation of properties; risks of construction and mining projects such as accidents, equipment breakdowns, bad weather, disease pandemics,
non-compliance with environmental and permit requirements, unanticipated variation in geological structures, ore grades or recovery rates;
unexpected cost increases, which could include significant increases in estimated capital and operating costs; fluctuations in metal prices and
currency exchange rates; whether a positive construction decision will be made regarding Donlin Gold; and other risks and uncertainties
disclosed in Barrick’s most recent Form 40-F/Annual Information Form on file with the United States Securities and Exchange Commission (SEC)
and Canadian provincial securities and NOVAGOLD’s most recent reports on Forms 10-K and 10-Q, particularly the "Risk Factors" sections of
those reports and other documents filed by Barrick and NOVAGOLD with applicable securities regulatory authorities from time to time. Copies
of these filings may be obtained by visiting NOVAGOLD’s website at www.novagold.com, Barrick’s website at www.barrick.com, or the SEC's
website at www.sec.gov, or at www.sedar.com. The forward-looking statements contained herein reflect the beliefs, opinions, and projections of
Donlin Gold, NOVAGOLD, and Barrick on the date the statements are made. Donlin Gold, NOVAGOLD and Barrick assume no obligation to
update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
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APPENDIX
TABLE 1
Drill Hole Orientations* and Depths for Non-ACMA Grid Holes
Hole Azimuth (°) Inclination (°) Depth (m)
DC21-1952 349 74 319.7
DC21-1953 302 70 222.5
DC21-1954 353 60 480.4
DC21-1955 128 56 313.3
DC21-1956B 335 65 315.3
DC21-1957 281 66 223.7
DC21-1958 332 54 350.2
DC21-1959 356 59 483.1
DC21-1960 351 60 214.9
DC21-1961 164 59 291.4
DC21-1962 231 58 289.3
DC21-1963A 188 71 224.9
DC21-1964 349 56 469.5
DC21-1965 191 72 225.3
DC21-1966 346 79 150.0
DC21-1967A 330 55 350.2
DC21-1968 162 46 177.7
DC21-1969 282 56 549.9
DC21-1970 272 63 306.0
DC21-1971 160 57 274.5
DC21-1972 345 62 349.9
DC21-1973 350 60 255.1
DC21-1974 309 68 206.7
DC21-1975 141 57 322.8
DC21-1976 274 60 502.3
DC21-1977 3 68 350.2
DC21-1978 29 61 324.9
DC21-1979 355 58 274.9
DC21-1980 353 66 353.0
DC21-1981 282 84 254.8
DC21-1982 356 58 224.9
DC21-1983A 350 66 400.1
DC21-1984 23 66 443.0
DC21-1985 168 49 249.9
DC21-1986 276 70 399.9
DC21-1987 345 66 399.9
DC21-1988 153 56 279.2
DC21-1989 7 64 349.9
DC21-1990 346 69 342.3
DC21-1991 165 59 322.5
DC21-1992 340 61 349.9