NYSE AMERICAN, TSX: NG NOVAGOLD Releases 2023 Sustainability Report Providing a comprehensive overview of NOVAGOLD's Environmental, Social and Governance (ESG) performance, emphasizing remarkable health and safety records, steadfast dedication to
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NEWS RELEASE
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NYSE AMERICAN, TSX: NG
NOVAGOLD Releases 2023 Sustainability Report
Providing a comprehensive overview of NOVAGOLD's Environmental, Social and Governance (ESG)
performance, emphasizing remarkable health and safety records, steadfast dedication to
environmental protection, continuous community investment, extensive stakeholder engagement, and
robust corporate governance.
Highlighting NOVAGOLD’s investment in our partnerships with Donlin Gold LLC, Calista Corporation
(“Calista”), and The Kuskokwim Corporation (TKC) to reinforce Donlin Gold’s social license, while
emphasizing ongoing community engagement and addressing specific needs.
Integrated NOVAGOLD’s Task Force on Climate-Related Financial Disclosures Report (TCFD) into this
year’s Sustainability Report and reported in alignment with the Global Reporting Initiative framework
(GRI).
April 18, 2024 – Vancouver, British Columbia – NOVAGOLD RESOURCES INC. (“NOVAGOLD” or “the
Company”) (NYSE American, TSX: NG) is pleased to publish its 2023 Sustainability Report (“Sustainability
Report”) with a focus on our 2023 performance in the areas of environmental stewardship, health and safety,
social responsibility and engagement, and corporate governance.
“Our 2023 achievements continue to build on the excellent work accomplished in the areas of environmental
stewardship, health and safety, social engagement, and corporate governance, by the teams at Donlin Gold
and NOVAGOLD over many years in advancing the Donlin Gold project for the benefit of our stakeholders and
shareholders. The team’s unwavering commitment to the Company and steadfast dedication to the project,
the Yukon-Kuskokwim (Y-K) region, and Alaska, as well as our Sustainability Committee’s and Board of
Directors’ guidance, have been instrumental in successfully advancing this extraordinary asset in western
Alaska,” said Greg Lang, President and Chief Executive Officer.
Highlights of NOVAGOLD’s 2023 Sustainability Report:
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As a development-stage mining company, NOVAGOLD focuses primarily on advancing the Donlin Gold project
while adopting a long-term approach to sustainability. This year, the Company proudly presents its fourth
annual sustainability report, aligned with the GRI framework and TCFD. Our continuous efforts to advance the
Donlin Gold project toward construction and eventual operation are fortified by our strong Alaska Native
Corporation partnerships with Calista and TKC. Together, our aim is to deliver economic and social benefits to
the Y-K region through the environmentally responsible development of the Donlin Gold project. Emphasizing
transparency, our focus is on effectively communicating sustainability priorities and ESG performance.
Central to NOVAGOLD's ethos is an unwavering focus on sustainable development, where collaboration with
local communities minimizes environmental impacts, stimulates economic growth, and sets new industry
benchmarks. Consistent with our commitment to transparency and sustainability, since 2020, NOVAGOLD’s
annual sustainability reports have highlighted the Company’s significant achievements and dedication to
responsible business practices and governance. Collaborative initiatives with Calista and TKC help protect the
environment and provide much-needed investment in southwestern Alaska’s indigenous communities.
The 2023 sustainability report is available on NOVAGOLD’s website here.
About NOVAGOLD
NOVAGOLD is a well-financed precious metals company focused on the development of its 50%-owned
Donlin Gold project in Alaska, one of the safest mining jurisdictions in the world. With approximately 39
million ounces of gold in the Measured and Indicated Mineral Resource categories, inclusive of Proven and
Probable Mineral Reserves (541 million tonnes at an average grade of approximately 2.24 grams per tonne, in
the Measured and Indicated Resource categories on a 100% basis)1, the Donlin Gold project is regarded to be
one of the largest, highest-grade, and most prospective known open-pit gold deposits in the world. According
to the 2021 Technical Report and the S-K 1300 Report (both as defined in the footnote below), once in
production, the Donlin Gold project is expected to produce an average of more than one million ounces per
year over a 27-year mine life on a 100% basis. The Donlin Gold project has substantial exploration potential
beyond the designed footprint of the open pit which currently covers three kilometers of an approximately
eight-kilometer-long gold-bearing trend. Current activities at the Donlin Gold project are focused on state
permitting, engineering studies, community outreach, and workforce development in preparation for the
eventual construction and operation of this project. With a strong balance sheet, NOVAGOLD is well-
positioned to fund its share of permitting and advancement efforts at the Donlin Gold project.
NOVAGOLD Contacts:
Mélanie Hennessey
Vice President, Corporate Communications
604-669-6227 or 1-866-669-6227
Frank Gagnon
Manager, Investor Relations
778-990-0299 or 1-866-669-6227
1 Donlin Gold data as per the 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”)
and the report titled “S-K 1300 Technical Report Summary on the Donlin Gold Project, Alaska, USA” (the “S-K 1300 Report”), dated November 30, 2021. 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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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”, “continue”, “ongoing”, “guidance”, “strategy”, “poised”, “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 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 development properties; estimated
capital costs, operating costs, production and economic returns; estimated metal pricing, metallurgy, mineability, marketability and operating and capital costs, together with other
assumptions underlying our resource and reserve estimates; our expected ability to develop adequate infrastructure and that the cost of doing so will be reasonable; assumptions that
all necessary permits and governmental approvals will be obtained and the timing of such approvals; assumptions made in the interpretation of drill results, the geology, grade and
continuity of our mineral deposits; our expectations regarding demand for equipment, skilled labor and services needed for exploration and development of mineral properties; and
that our activities will not be adversely disrupted or impeded by development, operating or regulatory risks. Forward-looking statements are necessarily based on several opinions,
estimates and assumptions that management of 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 our long-term approach to sustainability; ongoing support provided to key stakeholders including Native Corporation partners; Donlin Gold’s continued support
for the state; the potential development and construction of the Donlin Gold project; the sufficiency of funds to continue to advance development of Donlin Gold, including to a
construction decision; perceived merit of properties; mineral reserve and mineral 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; whether the Donlin Gold LLC board will continue to advance the Donlin Gold project up the value chain; the success of the Donlin Gold
community relations plan; and the outcome of exploration drilling at the Donlin Gold project and the timing thereof;. 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
expectations of NOVAGOLD management’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 obtaining and
maintaining permits necessary to construct and operate; the need for additional financing to explore and develop properties and availability of financing in the debt and capital
markets; lingering effects 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 Gold Corporation and NOVAGOLD for the continued exploration; the need for additional capital if NOVAGOLD determined to proceed with an
updated feasibility study on its own; development and eventual construction of the Donlin Gold property; 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 or when a positive construction decision will be made regarding
the Donlin Gold project; and other risks and uncertainties disclosed in 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 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, or the SEC's website at www.sec.gov, or on SEDAR+ at www.sedarplus.ca. The forward-looking statements contained herein reflect the beliefs, opinions
and projections of NOVAGOLD on the date the statements are made. NOVAGOLD assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or
other factors, should they change, except as required by law.