Donlin GOLD Reports 2022 Drill Assay Results Yielding More High-Grade Intercepts
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DONLIN GOLD REPORTS 2022 DRILL ASSAY RESULTS
YIELDING MORE HIGH-GRADE INTERCEPTS
November 1, 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 additional assay results from the 2022 drill program, including 64
completed drill holes plus partial results for 9 holes. Key takeaways include:
The drilling was completed ahead of schedule in September, with assay results received to date
representing approximately 70% or 29,600 meters (m) of drilling
The top five intervals in this release come from four of the 30 holes drilled in the 20x20 m
spaced Divide grid, and with 97% of the assays from these 30 holes received, results
demonstrate the potential for favorable local reconciliation with the resource model
During the 2022 drill program, 141 exploration drill holes were completed at 42,331 m, with
the final assay results expected to be released in early 2023
The 2022 field season and Donlin Gold owners’ workshop in September advanced key project efforts
including the geological model which confirms the size and continuity of the orebody and paves the
way for the next steps such as optimizing different mining scenarios, refining engineering studies,
continuing community outreach, and advancing permitting actions
With these additional assay results, the owners are advancing Donlin Gold up the value chain and are
working toward a feasibility study decision
Statements by the Owners
Barrick President and Chief Executive Mark Bristow said: “I am encouraged by the progress that we are
making at Donlin and in particular the understanding that our teams are accruing with regards to the
orebodies and associated mineralization. Our recent workshop in Anchorage which also involved meetings
with our Native Corporation partners, and the visit to the project helped us to set priorities for the next
steps towards optimization work and studies.”
Greg Lang, NOVAGOLD’s President and CEO, said: “The 2022 drill campaign has proven rewarding for all
of us at NOVAGOLD. The latest set of assays reported have delivered outstanding gold intercepts,
especially for an open pit deposit that include, among others, drill hole DC22-2068 that intersected 42.28
m grading 30.68 g/t gold, with a sub-interval of 23.16 m grading 54.22 g/t gold located in the Divide
domain which overlaps both the ACMA and Lewis deposits, making it one of the most significant
intercepts in terms of grade-thickness ever reported at the Donlin Gold project”.
Dan Graham, General Manager of Donlin Gold added, “The 2022 Donlin Gold drill program has been a
great success because of the truly remarkable work performed by the Donlin Gold team, including Calista
and The Kuskokwim Corporation (TKC), and because of our collective dedication to the health and safety
of everyone at site. We are thankful for our 150 contractors and employees, the majority of which are local
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hires from 24 Yukon-Kuskokwim (Y-K) communities, as they exceeded productivity rates and were able to
complete the drilling ahead of schedule.”
Delivering Results
The prime focus of our activities this year was to undertake a drill program of 42,331 m with tight-spaced
grid drilling in structural domains, in-pit and below-pit exploration in sparsely drilled areas, platform
mapping to further confirm mineralization continuity and key geological controls in representative areas of
the deposit with the results informing and supporting the global resource estimate, recent modelling
concepts, and strategic mine planning work. Donlin Gold also completed additional condemnation drilling
for the waste rock facility and 14 geotechnical drill holes for the Alaska Dam Safety certificates. In June, the
Donlin Gold LLC Board approved an additional 43 drill holes totaling 8,380 more meters than originally
planned to infill the Lewis 20x20 m grid to 10x10 m spacing.
The tight-spaced grid drilling program was initiated in 2021, beginning in East ACMA and expanded into
West ACMA, Divide, and Lewis in 2022. The focus of the grid drilling program was to increase confidence
in the extent and continuity of gold mineralization and structural controls over short-scale distances. The
results received from the ACMA grids have confirmed recent geological modelling at wider drill-spacings
in the immediate area surrounding the grid and have identified additional short-scale controls that will be
employed to update and improve the geological domains used for resource estimation. Along with results
from the Divide and Lewis grids, this will enable us to determine the best path forward toward an updated
feasibility study, subject to a formal decision by the Donlin Gold LLC Board.
We are most encouraged by the expanded drill program for 2022, directed at the upside prospects in
areas of the ACMA and Lewis pits where drilling had been limited to date. The new assays received have
thus far yielded positive intercepts. The top five intervals in this release come from four of the 30 holes
drilled in the Divide grid. With 97% of the assays from these holes received, the Divide grid results
demonstrate the potential for favorable local reconciliation with the resource model. One of the top
intervals (DC22-2068, 117.52-159.80 m) is shown on the cross section in Figure 1, and details on the
geological context of occurrence for each are below:
DC22-2068 intersected 42.28 m grading 30.68 g/t gold starting at 117.52 m drilled depth,
including a sub-interval of 23.16 m grading 54.22 g/t gold starting at 124.97 m drilled depth;
the drill-hole is sub-parallel to a mineralized intrusive and the true widths of the interval and
sub-interval are estimated to be 29 m and 16 m, respectively (e.g., Figure 1)
DC22-2077 intersected 48.96 m grading 20.61 g/t gold starting at 150.11 m drilled depth,
including sub-intervals of 9.08 m grading 13.27 g/t gold starting at 152.60 m drilled depth
and 31.29 m grading 27.09 g/t gold starting at 167.78 m drilled depth; the true widths of the
mineralization across this interval and sub-intervals are estimated to be 32 m, 6m and 21 m,
respectively
DC22-2063 intersected 60.96 m grading 12.35 g/t gold starting at 236.22 m drilled depth,
including sub-intervals of 33.37 m grading 13.80 g/t gold starting at 247.06 m drilled depth
and 8.79 m grading 26.73 g/t gold starting at 287.15 m drilled depth; the true widths of
mineralization across this interval and sub-intervals are estimated to be 44 m, 24m and 6 m,
respectively
DC22-2063 intersected 19.74 m grading 34.17 g/t gold starting at 162.18 m drilled depth,
including a sub-interval of 11.35 m grading 57.93 g/t gold starting at 165.38 m drilled depth;
the true widths of mineralization across this interval and sub-interval are estimated to be 13 m
and 8 m, respectively
DC22-2092 intersected 41.19 m grading 6.64 g/t gold starting at 116.12 m drilled depth,
including a sub-interval of 8.51 m grading 16.47 g/t gold starting at 147.47 m drilled depth;
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the true widths of mineralization across this interval and sub-interval are estimated to be 29 m
and 6m, respectively
Drill-hole collar locations and the top five intervals in this release are shown in Figure 2
Drill-hole orientations, depths and significant intervals are shown in Tables 1 and 2,
respectively, in the Appendix at the end of this release
Permitting & Stakeholder Engagement
Donlin Gold is a federally permitted project on private land with excellent and longstanding Native
Corporation partners. Permitting in Alaska has represented a substantial undertaking over several years to
ensure a diligent, thorough, transparent, and inclusive process for all involved, including stakeholders from
the Y-K region. In the third quarter, Donlin Gold applied for a new air quality permit from ADEC. A draft
permit is expected to be issued for public comment by the end of 2022. Donlin Gold is also preparing an
updated Alaska Pollutant Discharge Elimination System application for a regularly scheduled renewal by
ADEC. Furthermore, Donlin Gold is working with Calista, TKC, ADNR, and the U.S. Bureau of Land
Management on re-locating easements and public ROWs in the project area. ADNR issued the proposed
re-location plan for public comment in the summer of 2022.
Donlin Gold, its owners, and its partners Calista and TKC are intimately familiar with the permitting and
regulatory processes applicable to the project and will continue to support the State in its defense of the
thorough and diligent permitting process. Together, they will also continue working to secure the various
remaining state-level permits and certificates required for the project.
Donlin Gold continues to work with Calista and TKC in all aspects of outreach and engagement
throughout the Y-K region in the areas of education, health and safety, cultural traditions, and
environmental initiatives, including creating a subsistence committee comprised of independent regional
stakeholders reflecting diverse views on development initiatives, among other activities.
Some of these activities included the Backhaul Project, “In It for the Long Haul”. This was the fifth annual
backhaul project to collect, remove, and safely dispose of household hazardous and electronic waste from
30 remote villages throughout the Y-K region, removing nearly 400,000 lbs. of waste during the last five
years that would otherwise have ended up in landfills and waterways. Sustained efforts are also underway
to promote youth education and healthy activities in the Y-K region through the Alaska School Activities
Association and programs such as Alaska EXCEL, which provides life-changing educational and
professional opportunities for rural Alaska students and young adults.
Donlin Gold signed two additional Shared Value Statements in the last three months with villages in the Y-
K region for a total of 11 that formalize current engagement with key local communities, expand upon the
long-term relationships already established with them, and address specific community needs including:
water, sewer, and solid waste projects; the ice road that connects remote villages in the Y-K region; salmon
and other aquatic life studies; and suicide and public safety prevention programs.
Calista and Donlin Gold also continued their proactive, bipartisan outreach in Alaska and Washington, D.C.
to highlight the thoroughness of the project’s environmental review and permitting processes, in addition
to the considerable benefits that the project would deliver to Native Alaskans. As a result, Alaska’s U.S.
Senators Lisa Murkowski and Dan Sullivan have been long term supporters of the Donlin Gold project.
Donlin Gold 2022 Project Expenditures
The 2022 expenditure for Donlin Gold LLC (on a 100% basis) is expected to be $64 million, split equally
between the two owners. The budget’s focus is to refresh geologic modelling and interpretation work for
an updated resource model, as well as engineering activities to inform an updated feasibility study
decision. In addition to the 42,331 meters of exploration drilling, the 2022 expenditures include fieldwork
for the Alaska Dam Safety certificates, environmental studies, and external affairs activities.
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Consistent with their longstanding track record, the owners will continue to advance the Donlin Gold
project in a financially disciplined manner while emphasizing a strong safety culture, environmental
stewardship, engineering excellence, and active community engagement.
About Donlin Gold
The Donlin Gold project is located in Alaska, the second largest gold-producing state in the United States.
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 5% 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 is a committed partner to the Alaska Native communities both surrounding the project and
within the State as a whole. This commitment underpins our approach and is also reflected in the way in
which the asset itself is structured. 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 under
the 1971 Alaska Native Claims Settlement Act (ANCSA). Donlin Gold has entered into life-of-mine
agreements with Calista, which owns the subsurface mineral rights and some surface land rights, and TKC,
a collection of ten village corporations, which owns the majority of surface land rights. Donlin Gold is
committed to providing employment opportunities, scholarships, and preferential contract considerations
to Calista and TKC shareholders. The life-of-mine agreements include a revenue-sharing structure
established in the context of the ANCSA, which resolved Alaska Native land claims and allotted some 44
million acres of land for use by Alaska Native Corporations. Additionally, our long-term commitment to
economic development in the Y-K 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 Donlin Gold’s commitment to sustainable and responsible development of the
project for the benefit of all stakeholders.
1 Donlin Gold data as per the 2021 Technical Report and S-K 1300 Report (both as defined herein). Donlin Gold possesses 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 and inclusive of Mineral Reserves, of which approximately 4 Mt of Measured Resources and approximately 267 Mt of
Indicated Resources inclusive of Reserves is attributable to NOVAGOLD through its 50% ownership interest in Donlin Gold LLC.
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, of which approximately 0.5 Mt of Measured Resources and approximately 35 Mt
of Indicated Resources exclusive of Mineral Reserves is attributable to NOVAGOLD. Donlin Gold possesses Proven Reserves of
approximately 8 Mt grading 2.32 g/t and Probable Reserves of approximately 497 Mt grading 2.08 g/t, each on a 100% basis, of
which approximately 4 Mt of Proven Reserves and approximately 249 Mt of Probable Reserves is attributable to NOVAGOLD. Mineral
Reserves and Resources have been estimated in accordance with NI 43-101 and S-K 1300.
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FIGURE 1 Section View A – A’ Looking Southwest – Divide grid significant interval example from
DC22-2068
Geological cross section in Divide grid showing downhole assay results from six drill holes superimposed
on interpreted lithology and structure, including an example significant interval from DC22-2068 from
117.52-159.8 m. DC22-2068 is drilled sub-parallel to a faulted and mineralized mafic dyke.
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FIGURE 2 Drill Hole Collar Locations
Depicted grid system is based on NAD83 UTM zone 4N coordinates. The location of the cross section
shown in Figure 1 is indicated by A – A’.
QA/QC Procedures
The QA/QC procedures for the 2022 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 95% core recovery has been achieved during the 2022 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’ Juneau and Fairbanks, Alaska
sample preparation facilities. Crushed samples were sent to Bureau Veritas’ lab in Vancouver, British
Columbia for pulverizing and gold assays and pulverized splits to an ALS Limited lab in Vancouver, British
Columbia for multi-element analysis. Quality control samples were inserted (standards at 5% of primary
samples, blanks at 5% of primary samples and duplicates at 2.5% of primary samples) into each batch of
samples. The review of the quality control samples did not indicate any bias or error. Out of bounds
quality control samples were handled with appropriate reruns and investigations. 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 by Donlin Gold staff under the supervision of 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.
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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 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 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 of 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 and 2022
Donlin Gold project drill programs, the 2021 Technical Report and the S-K 1300 Report contained in this
media release. To verify the information related to the drilling programs, 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
Email: [email protected] | www.novagold.com
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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 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 recent drill programs including an improved geological model for Donlin Gold; the continuing
priorities of Donlin Gold, including the health and safety of our people; 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 securing 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; exploitation and exploration
successes; the outcome of legal challenges to Donlin Gold’s permits; 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 authorities, 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.