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Targeted on Progressing the Donlin Gold Challenge to a Totally Up to date Feasibility Research
Extensive-Ranging Group Involvement and Authorities Engagement to Maintain Donlin Gold’s Social License
Robust Treasury of Roughly $106 Million in Money and Time period Deposits
VANCOUVER, British Columbia, Oct. 02, 2024 (GLOBE NEWSWIRE) — NOVAGOLD RESOURCES INC. (“NOVAGOLD” or the “Firm”) (NYSE American, TSX: NG) as we speak launched its 2024 third quarter monetary outcomes and offered an replace on its Tier One1 gold improvement challenge, Donlin Gold, which NOVAGOLD owns equally with Barrick Gold Company (“Barrick”).
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Particulars of the monetary outcomes for the quarter ended August 31, 2024, are offered within the consolidated monetary statements and quarterly report filed on Type 10-Q on October 2, 2024, obtainable on the Firm’s web site at www.novagold.com, on SEDAR+ at www.sedarplus.ca, and on EDGAR at www.sec.gov. All quantities are in U.S. {dollars} until in any other case said.
Within the third quarter of 2024, the next milestones had been achieved:
- Donlin Gold actions included:
- Metallurgical take a look at work (pilot plant) to substantiate flowsheet optimizations superior with completion anticipated by year-end.
- Submission of the vast majority of the Dam Security Certification preliminary design packages to the Alaska Division of Pure Assets (ADNR) on June 17, 2024, with the ultimate paperwork anticipated to be submitted by year-end. Feedback from ADNR are anticipated to be obtained in 2025.
- Up to date useful resource modelling by the Donlin Gold staff and a third-party marketing consultant nearing completion.
- Incorporation of discipline and geochemical knowledge to replace groundwater and floor water fashions for operational and closure planning.
- Subsequent to the third quarter, NOVAGOLD and Barrick held a Donlin Gold workshop in Alaska to assessment the substantial work accomplished up to now and to debate subsequent steps for the Donlin Gold challenge and associated actions for 2025.
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- In collaboration with Calista Company (“Calista”) and The Kuskokwim Company (TKC), Donlin Gold achieved important milestones in schooling, well being and security, cultural preservation, and environmental initiatives that embody:
- Hosted Crooked Creek and Georgetown residents on a tour of the Donlin Gold challenge.
- Participated in a public Open Home in Anchorage, offering Alaskans with the chance to study extra concerning the challenge and have interaction in open and clear discussions.
- Sponsored the RurAL CAP Elder Mentor Program, connecting youth with Elders in Alaska and fostering the sharing of values and data between generations.
- Elevated collaboration with the Alaska Faculty Actions Affiliation, a statewide nonprofit group devoted to the event of excessive school-level athletic, educational, and positive arts packages throughout the State.
- NOVAGOLD reported the next:
- Appointment of Peter Adamek, a seasoned monetary govt with over 20 years of expertise, because the Firm’s new Vice President and Chief Monetary Officer.
- NOVAGOLD maintains a powerful monetary place to proceed to advance the Donlin Gold challenge up the worth chain, with a wholesome treasury of $105.6 million in money and time period deposits as of August 31, 2024.
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1 NOVAGOLD defines a Tier One gold improvement challenge as one with a projected manufacturing lifetime of no less than 10 years, annual projected manufacturing of no less than 500,000 ounces of gold, and common projected money prices over the manufacturing life which are within the decrease half of the business price curve.
President’s Message
Targeted on Finalizing Key Challenge Actions to Drive the Donlin Gold Challenge Improvement
Through the third quarter of 2024, Donlin Gold superior key actions to place the challenge to replace technical work and value estimates. Our dedication to a collaborative and inclusive method continues to learn all shareholders and stakeholders.
Principal actions included the development of metallurgical take a look at work at a pilot plant in Ontario, Canada to substantiate proposed optimizations to the flowsheet (with completion anticipated by year-end), in addition to up to date useful resource modelling by the Donlin Gold staff and a third-party marketing consultant that can be nearing completion. As well as, current Donlin Gold discipline knowledge was used to replace groundwater and floor water fashions, whereas geochemical knowledge assortment continues and shall be used for closure planning. Our work on the Dam Security Certification continues to progress with the vast majority of the preliminary design packages submitted to the ADNR on June 17, 2024, with remaining paperwork anticipated to be submitted by year-end. Feedback from the ADNR on the Dam Security Certification preliminary design packages are anticipated in 2025.
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These complete efforts have delivered extremely beneficial insights for the Donlin Gold LLC Board and its homeowners. Guiding our technique for the Donlin Gold challenge and its 2025 initiatives, these actions had been reviewed at our newest workshop in Alaska with Barrick and can contribute essential knowledge for advancing Donlin Gold. NOVAGOLD is dedicated to advancing the challenge with a concentrate on monetary prudence, engineering excellence, environmental accountability, and a powerful security tradition.
Our outreach in Alaska, notably within the Yukon-Kuskokwim (Y-Okay) area, and in Washington, D.C., has strengthened neighborhood engagement and reinforces the challenge’s social license. The Firm appreciates the diligent contributions of the Donlin Gold staff, companions, and stakeholders, and stays devoted to creating the challenge to its full potential. With $105.6 million in money and time period deposits as of August 31, 2024, NOVAGOLD is well-positioned to help this effort.
We had been very happy to announce Peter Adamek’s appointment because the Firm’s new Vice President and Chief Monetary Officer within the third quarter. Peter is a seasoned monetary govt with over 20 years of expertise, most lately with Hudbay Minerals Inc. He joins a management staff that has constantly demonstrated diligence and accountable capital stewardship whereas enhancing worth and upholding robust shareholder engagement.
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Ongoing Engagement with Stakeholders and Authorities to Improve Donlin Gold’s Social License
In collaboration with Calista and TKC, the mineral and floor rights holders, Donlin Gold LLC has made important strides in area people and authorities engagement throughout the Y-Okay area, Alaska, and Washington, D.C. Strategically positioned on non-public land designated by regulation for mineral improvement beneath the Alaska Native Claims Settlement Act of 1971, the Donlin Gold challenge enjoys deep involvement with Native Companies, strengthening our connections with individuals from the area and native authorities our bodies.
Our enduring partnerships with Calista and TKC have been essential in advancing the challenge’s improvement and allowing efforts. Over many years, our dedication to partaking with the 62 stakeholder communities within the Y-Okay area has constructed significant relationships, enhanced funding, and bolstered our social license. This longstanding dedication underscores the method of the Donlin Gold challenge and its companions, Calista and TKC, to foster sturdy relationships with each native communities and governmental entities constructed on belief, transparency, respect and partnership.
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In July, Donlin Gold hosted a challenge website tour for a bunch of residents from Crooked Creek and the Native Village of Georgetown.
In August, Calista, TKC, and Donlin Gold hosted a public Open Home in Anchorage, offering Alaskans with the chance to study extra concerning the challenge and to have interaction in open and clear discussions. NOVAGOLD was in attendance to take part, work together, and have interaction with key stakeholders.
These are simply two examples of the numerous engagements Donlin Gold prioritizes to lift consciousness and keep transparency across the challenge.
Sustained Help and Participation in Native Group and Environmental Initiatives All through the Y-Okay Area
NOVAGOLD stays deeply dedicated to neighborhood and social accountability, upholding shared values on the Donlin Gold challenge website and throughout the Y-Okay area. Via initiatives spanning schooling, neighborhood wellness, cultural preservation, and environmental stewardship, we help fisheries research, environmental actions, subsistence, cultural preservation efforts, and varied grants. Our collaboration with Calista and TKC has pushed a variety of actions and tasks over the previous quarter.
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Since mid-2023, NOVAGOLD and Donlin Gold have intensified efforts with our Alaska Native Company companions to watch, survey and have interaction within the dialogue on salmon fisheries within the Kuskokwim and Yukon River watersheds. Within the third quarter, we targeted on figuring out alternatives to watch, consider, and strengthen salmon populations. Notably, we launched a salmon smolt monitoring program on the George River, a tributary of the Kuskokwim River, in partnership with the Village of Napaimute to evaluate smolt well being and migration patterns.
As well as, Donlin Gold and NOVAGOLD have supported the “In It for The Lengthy Haul” backhaul program for seven years now, accumulating and safely disposing of family hazardous and digital waste from Y-Okay villages. This yr alone, roughly 140,000 kilos of fabric had been recycled, for a powerful whole of roughly 803,000 kilos of hazardous supplies faraway from the Y-Okay area because the program started in 2018.
Donlin Gold’s partnership with the Crooked Creek Conventional Council has supported the Summer season Youth Employment program, offering native youth with hands-on expertise in varied work environments whereas additionally helping Elders. Within the third quarter, Donlin Gold continued sponsoring the RurAL CAP Elder Mentor Program, which connects youth with Elders to foster intergenerational data and help educational engagement and faculty readiness throughout the State. Donlin Gold additionally shipped dictionaries to all faculty districts within the Y-Okay area for third graders as a part of The Dictionary Challenge, a nationwide effort to advertise literacy and artistic thinkers, a challenge they’ve participated in yearly since 2012.
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Donlin Gold has additionally reaffirmed its dedication to the Alaska Faculty Actions Affiliation, supporting excessive school-level athletic, educational, and positive arts packages statewide. Donlin Gold’s ongoing monetary contributions spotlight our steadfast dedication to enhancing academic and extracurricular alternatives for college kids all through Alaska.
NOVAGOLD stays dedicated to stakeholder engagement and neighborhood improvement working carefully with Tribal communities and Alaska Native Companies to determine wants and collaboratively develop options that improve and uplift communities, fostering sustainable development and shared prosperity for future generations.
Proactively Defending and Upholding Present State and Federal Permits and Working to Safe Remaining Key State Permits
Donlin Gold, in collaboration with Calista, actively helps Federal and State companies in defending the challenge’s permits in opposition to authorized challenges — a method that has confirmed extremely efficient in sustaining allow approvals up to now. The intricate allowing course of in the US and Alaska calls for years of devoted, clear, and inclusive efforts to have interaction all stakeholders, together with these from the Y-Okay area. With a profound understanding of the regulatory panorama, Donlin Gold and its companions are dedicated to supporting Federal and State companies by way of any challenges to the challenge’s permits and are actually concentrating on securing the remaining State-level permits and certificates wanted for the challenge’s development. Whereas sustaining jurisdictional security presents challenges, notably as rules range throughout areas, the State of Alaska stands out as a secure and dependable funding atmosphere. Because the second-largest gold-producing state in one of many world’s most secure nations totally free enterprise2, Alaska presents buyers stability and certainty that their belongings will stay safe. This makes the rigorous allowing course of a worthwhile endeavor in an more and more advanced world.
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Earthjustice filed their opening temporary with the Alaska Superior Court docket on January 5, 2024, interesting the Alaska Division of Environmental Conservation Commissioner’s determination upholding the 401 Water High quality Certification. The briefing is full and oral arguments had been held on August 30, 2024. A call is anticipated from the Alaska Superior Court docket by 2025.
In different State litigation, following an unsuccessful enchantment to the ADNR Commissioner, Earthjustice filed their opening temporary with the Alaska Supreme Court docket on January 4, 2024, interesting the Alaska Superior Court docket’s determination on Donlin Gold’s water rights permits. Moreover, briefing on Earthjustice’s enchantment of the Alaska Superior Court docket affirmation of ADNR’s issuance of the State pipeline Proper-of-Means (ROW) lease to the Alaska Supreme Court docket was accomplished in February 2024. Oral arguments for each the water rights permits and the State pipeline ROW are scheduled for November 12, 2024.
Within the Federal litigation difficult the Donlin Gold Joint Document of Determination, together with the 404 allow and ROW for parts of the pipeline crossing federal lands, the Court docket issued a choice on September 30, 2024. The choice upheld the federal companies’ evaluation on two of the three points raised within the litigation, however agreed with the plaintiffs that the federal companies took too slim a view in analyzing the affect of a theoretical launch from the tailing storage facility. The Court docket requested supplemental briefing on the suitable treatment for addressing this challenge, which is due October 21, 2024, and response briefing is due November 4, 2024. Donlin Gold is dedicated to working with the federal companies and all stakeholders on an applicable treatment to handle the Court docket’s determination.
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2 Per the 2024 Mineral Commodity Summaries Report – https://pubs.usgs.gov/periodicals/mcs2024/mcs2024-gold.pdf.
Devoted to Advancing Donlin Gold for the Good thing about All Shareholders and Stakeholders
NOVAGOLD strongly believes that the Donlin Gold challenge represents a compelling funding alternative within the gold market, particularly amidst the shortage of high-quality belongings in safe jurisdictions and the gold worth lately reaching an all-time excessive. Located in Alaska — a well-established mining vacation spot — Donlin Gold holds important potential. The challenge boasts roughly 39 million ounces of gold at a grade of two.24 grams per tonne in Measured and Indicated Mineral Assets, inclusive of Confirmed and Possible Mineral Reserves3. This sturdy asset, with a projected mine lifetime of 27 years and common annual gold manufacturing in extra of one million ounces per yr, just isn’t solely projected to be a low-cost, open-pit producer, but it surely additionally presents exploration upside — extending past the presently outlined useful resource areas, which symbolize lower than half of the presently recognized eight-kilometer mineralized development.
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Advancing Donlin Gold by way of its successive improvement phases responsibly and successfully stays our high precedence. Since 2012, NOVAGOLD has enhanced the challenge’s worth with out further fairness issuances, underscoring our dedication to strategic development and worth creation. Within the present macro atmosphere, characterised by advanced and risky market situations, Donlin Gold stands out as a uncommon and actually distinctive “Tier 1 Asset” positioned in one of many world’s high mining jurisdictions. With its spectacular profile, low-cost construction, and substantial exploration potential, Donlin Gold is effectively positioned to develop into the most effective gold improvement tasks which epitomizes each stability and alternative.
These quite a few accomplishments mirror the laborious work and diligence of our complete staff — from managing Donlin Gold operations to partaking with State and Federal companies, conducting research, and reaching out to communities throughout an unlimited area. Our environmental, academic, and social initiatives additional underscore our longstanding and real dedication. We prolong our heartfelt due to our colleagues and companions at Donlin Gold, Calista, TKC, and NOVAGOLD, in addition to to our Board of Administrators for his or her unwavering efforts and collaboration. We stay as dedicated as ever to advancing the Donlin Gold challenge safely and responsibly, with a transparent concentrate on creating substantial worth.
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We deeply admire the unwavering help and belief of our long-term shareholders, whose dedication and steering have been instrumental to the Firm’s success. The exceptional dedication of those esteemed buyers, which embody among the most revered names within the funding neighborhood, constitutes the cornerstone of our progress. We deeply worth their determination to put money into our firm in addition to their fixed and insightful engagement. As custodians of NOVAGOLD, we stay resolutely targeted on executing our technique and advancing the Donlin Gold challenge with the best requirements of security and social accountability. Our paramount goal is to boost shareholder and stakeholder worth, echoing each the boldness and conviction that our shareholders have positioned in us.
Sincerely,
Gregory A. Lang
President & CEO
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3 Donlin Gold knowledge as per the report titled “NI 43-101 Technical Report on the Donlin Gold Challenge, Alaska, USA” with an efficient date of June 1, 2021 (the “2021 Technical Report”) and the report titled “S-Okay 1300 Technical Report Abstract on the Donlin Gold Challenge, Alaska, USA” (the “S-Okay 1300 Technical Report Abstract”), dated November 30, 2021. Donlin Gold possesses Measured Assets of roughly 8 Mt grading 2.52 g/t and Indicated Assets of roughly 534 Mt grading 2.24 g/t, every on a 100% foundation and inclusive of Mineral Reserves, of which roughly 4 Mt of Measured Assets and roughly 267 Mt of Indicated Assets inclusive of Reserves is attributable to NOVAGOLD by way of its 50% possession curiosity in Donlin Gold LLC. Unique of Mineral Reserves, Donlin Gold possesses Measured Assets of roughly 1 Mt grading 2.23 g/t and Indicated Assets of roughly 69 Mt grading 2.44 g/t, of which roughly 0.5 Mt of Measured Assets and roughly 35 Mt of Indicated Assets unique of Mineral Reserves is attributable to NOVAGOLD. Donlin Gold possesses Confirmed Reserves of roughly 8 Mt grading 2.32 g/t and Possible Reserves of roughly 497 Mt grading 2.08 g/t, every on a 100% foundation, of which roughly 4 Mt of Confirmed Reserves and roughly 249 Mt of Possible Reserves is attributable to NOVAGOLD. Mineral Reserves and Assets have been estimated in accordance with NI 43-101 and S-Okay 1300.
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Monetary Outcomes
in hundreds of U.S. {dollars}, apart from per share quantities
Three months ended August 31, 2024 $ |
Three months ended August 31, 2023 $ |
9 months ended August 31, 2024 $ |
9 months ended August 31, 2023 $ |
|||||
Normal and administrative expense(1) | 5,120 | 5,243 | 18,982 | 16,385 | ||||
Share of losses – Donlin Gold | 2,814 | 3,978 | 9,765 | 15,996 | ||||
Whole working bills | 7,934 | 9,221 | 28,747 | 32,381 | ||||
Loss from operations | (7,934) | (9,221) | (28,747) | (32,381) | ||||
Curiosity expense on promissory observe | (3,833) | (3,433) | (11,132) | (9,589) | ||||
Curiosity and dividend revenue | 1,194 | 1,501 | 4,265 | 4,180 | ||||
Different revenue, web | (14) | (66) | 1,708 | 904 | ||||
Accretion of notes receivable | — | 145 | — | 579 | ||||
Earnings tax expense | (156) | — | (855) | (75) | ||||
Web loss | (10,743) | (11,074) | (34,761) | (36,382) | ||||
Web Loss per share, primary and diluted | (0.03) | (0.03) | (0.11) | (0.11) | ||||
At | At | |||||||
August 31, 2024 $ |
November 30, 2023 $ |
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Money and time period deposits | 105,572 | 125,749 | ||||||
Whole belongings | 114,731 | 133,290 | ||||||
Whole liabilities | 152,540 | 141,513 |
(1) Consists of share-based compensation expense of $515 and $2,225 within the third quarter of 2024 and 2023, respectively, and $5,319 and $6,526 within the first 9 months of 2024 and 2023, respectively.
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Within the third quarter of 2024, web loss decreased by $331 from the comparable prior yr interval. The lower was primarily attributable to decrease stock-based compensation expense associated to forfeiture of choices and efficiency share items and decrease discipline bills at Donlin Gold partially offset by greater normal and administrative prices, elevated curiosity expense on the promissory observe and decrease curiosity revenue on money and time period deposits. Donlin Gold bills had been decrease with decreased website exercise in 2024, in comparison with fieldwork and geotechnical drilling for the Alaska Dam Security certificates and hydrological drilling to help mine planning and design in 2023. Normal and administrative bills elevated primarily attributable to greater skilled charges and worker compensation. Skilled charges elevated attributable to consulting charges primarily associated to ongoing efforts to boost the worth of the Donlin Gold challenge by evaluating alternate options to additional advance the challenge. Salaries and advantages elevated primarily attributable to hiring of further employees. Earnings tax expense pertains to passive revenue taxable in Canada on a portion of curiosity revenue earned by U.S. subsidiaries, and for withholding taxes on the sale of the San Roque challenge in Argentina throughout the first quarter of 2024.
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Liquidity and Capital Assets
Within the third quarter and first 9 months of 2024, money equivalents decreased by $6,996 and $177, respectively, primarily attributable to Donlin Gold funding and company normal and administrative prices, partially offset by curiosity revenue on money and proceeds from time period deposits. The rise in money utilized in working actions within the third quarter and first 9 months of 2024 from the comparable prior yr durations was primarily attributable to elevated company normal and administrative prices and a web change in working capital. Funding necessities for Donlin Gold had been considerably decrease within the first 9 months of 2024 than the comparable prior yr interval.
2024 Outlook
Our anticipated money expenditures in fiscal yr 2024 proceed to be roughly $31,200, together with $14,250 to fund the Donlin Gold challenge, and $16,950 for company normal and administrative prices.
NOVAGOLD’s major targets in 2024 embody persevering with to advance the Donlin Gold challenge towards a development determination; sustaining help for Donlin Gold among the many challenge’s stakeholders; selling a powerful tradition on security, sustainability, and the atmosphere; sustaining a good popularity of NOVAGOLD; and preserving a wholesome stability sheet. Our operations primarily relate to the supply of challenge milestones, together with the achievement of assorted technical, environmental, sustainable improvement, financial and authorized aims, acquiring crucial permits, completion of pre-feasibility and feasibility research, preparation of engineering designs and the financing to fund these aims.
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Convention Name & Webcast Particulars
NOVAGOLD’s convention name and webcast to debate these outcomes will happen on October 3, 2024, at 8:00 am PT (11:00 am ET). The webcast and convention call-in particulars are offered beneath.
About NOVAGOLD
NOVAGOLD is a well-financed treasured metals firm, solely targeted on the accountable and sustainable improvement of its flagship Donlin Gold challenge in Alaska, one of many most secure mining jurisdictions on this planet4. The Donlin Gold challenge, in equal partnership with Barrick, is positioned to be one of many world’s largest gold mines, with roughly 39 million ounces of gold within the Measured and Indicated Mineral Useful resource (541 million tonnes at a median grade of roughly 2.24 grams per tonne, on a 100% foundation)5 classes, inclusive of Confirmed and Possible Mineral Reserves. Based on the 2021 Technical Report and the S-Okay 1300 Technical Report Abstract (each as outlined in footnote 3) Donlin Gold is predicted to provide a median of roughly a million ounces of gold over a 27-year mine life on a 100% foundation. There’s substantial exploration potential past the designed footprint of the Donlin Gold open pit, which presently covers three kilometers of an roughly eight-kilometer-long gold-bearing development. Present actions on the Donlin Gold challenge concentrate on state allowing, engineering research, neighborhood and authorities engagement, and different environmental, academic and cultural initiatives in preparation for the eventual development and operation of this challenge. With a sturdy stability sheet, NOVAGOLD is effectively positioned to finance its share of present actions.
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4 Per Mining Journal intelligence – World Danger Report 2023 Alaska obtained an AA ranking, ranks quantity 3 globally on the Funding Danger index and is within the high quartile for low-risk in every class (Authorized, Governance, Social, Fiscal and Infrastructure).
5 Donlin Gold knowledge as per the 2021 Technical Report and the S-Okay 1300 Technical Report Abstract. Please see footnote 3 above.
NOVAGOLD Contact:
Mélanie Hennessey
Vice President, Company Communications
604-669-6227 or 1-866-669-6227
Cautionary Observe Concerning Ahead-Trying Statements
This media launch consists of sure “forward-looking info” and “forward-looking statements” (collectively “forward-looking statements”) throughout the that means of relevant securities laws, together with the US Personal Securities Litigation Reform Act of 1995. Ahead-looking statements are ceaselessly, however not at all times, recognized by phrases akin to “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “doable”, and related expressions, or statements that occasions, situations, or outcomes “will”, “might”, “might”, “would” or “ought to” happen or be achieved. Ahead-looking statements are essentially based mostly on a number of opinions, estimates and assumptions that administration of NOVAGOLD thought of applicable and affordable as of the date such statements are made, are topic to recognized and unknown dangers, uncertainties, assumptions, and different elements which will trigger the precise outcomes, exercise, efficiency, or achievements to be materially completely different from these expressed or implied by such forward-looking statements. All statements, aside from statements of historic reality, included herein are forward-looking statements. These forward-looking statements embody statements concerning the anticipated timing of sure judicial and/or administrative choices; the 2024 outlook; the timing and potential for commencing a brand new feasibility research on the Donlin Gold challenge; our targets and expenditures for 2024; ongoing help offered to key stakeholders together with Native Company companions; Donlin Gold’s continued help for the state and federal allowing course of; sufficiency of working capital; the potential improvement and development of the Donlin Gold challenge; the sufficiency of funds to proceed to advance improvement of Donlin Gold, together with to a development determination; perceived advantage of properties; mineral reserve and mineral useful resource estimates; Donlin Gold’s skill to safe the permits wanted to assemble and function the Donlin Gold challenge in a well timed method, if in any respect; authorized challenges to Donlin Gold’s present permits and the timing of choices in these challenges; whether or not the Donlin Gold LLC board will proceed to advance the Donlin Gold challenge safely, socially responsibly and to generate worth for our stakeholders; continued cooperation between the homeowners of Donlin Gold LLC to advance the challenge; the Firm’s skill to ship on its technique with the Donlin Gold challenge, growing shareholder and stakeholder wealth; the success of the strategic mine plan for the Donlin Gold challenge; the success of the Donlin Gold neighborhood relations plan; the end result of exploration drilling on the Donlin Gold challenge and the timing thereof; the completion of take a look at work and modeling and the timing thereof. As well as, any statements that consult with expectations, intentions, projections or different characterizations of future occasions or circumstances are forward-looking statements. Ahead-looking statements should not historic info however as a substitute symbolize the expectations of NOVAGOLD administration’s estimates and projections concerning future occasions or circumstances on the date the statements are made. Necessary elements that might trigger precise outcomes to vary materially from expectations embody the necessity to get hold of further permits and governmental approvals; the timing and probability of acquiring and sustaining permits essential to assemble and function; the necessity for added financing to discover and develop properties and availability of financing within the debt and capital markets; illness pandemics; uncertainties concerned within the interpretation of drill outcomes and geological exams and the estimation of reserves and sources; adjustments in mineral manufacturing efficiency, exploitation and exploration successes; adjustments in nationwide and native authorities laws, taxation, controls or rules and/or adjustments within the administration of legal guidelines, insurance policies and practices, expropriation or nationalization of property and political or financial developments in the US or Canada; the necessity for continued cooperation between Barrick and NOVAGOLD for the continued exploration, improvement and eventual development of the Donlin Gold property; the necessity for added capital if NOVAGOLD decided to proceed with an up to date feasibility research by itself; the necessity for cooperation of presidency companies and Native teams within the improvement and operation of properties; dangers of development and mining tasks akin to accidents, gear breakdowns, dangerous climate, illness pandemics, non-compliance with environmental and allow necessities, unanticipated variation in geological buildings, ore grades or restoration charges; sudden price will increase, which might embody important will increase in estimated capital and working prices; fluctuations in metallic costs and forex alternate charges; whether or not or when a constructive development determination shall be made concerning the Donlin Gold challenge; and different dangers and uncertainties disclosed in NOVAGOLD’s most up-to-date experiences on Kinds 10-Okay and 10-Q, notably the “Danger Components” sections of these experiences and different paperwork filed by NOVAGOLD with relevant securities regulatory authorities infrequently. Copies of those filings could also be obtained by visiting NOVAGOLD’s web site at www.novagold.com, or the SEC’s web site at www.sec.gov, or on SEDAR+ at www.sedarplus.ca. The forward-looking statements contained herein mirror the beliefs, opinions and projections of NOVAGOLD on the date the statements are made. NOVAGOLD assumes no obligation to replace the forward-looking statements of beliefs, opinions, projections, or different elements, ought to they alter, besides as required by regulation.
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