Robust Treasury of Roughly $106 Million in Money and Time period Deposits
NOVAGOLD RESOURCES INC. (“NOVAGOLD” or the “Firm”) (NYSE American, TSX: NG) at this time launched its 2024 third quarter monetary outcomes and supplied an replace on its Tier One 1 gold growth undertaking, Donlin Gold, which NOVAGOLD owns equally with Barrick Gold Company (“Barrick”).
Particulars of the monetary outcomes for the quarter ended August 31, 2024, are offered within the consolidated monetary statements and quarterly report filed on Kind 10-Q on October 2, 2024, accessible 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} except in any other case acknowledged.
Within the third quarter of 2024, the next milestones have been achieved:
- Donlin Gold actions included:
- Metallurgical check work (pilot plant) to verify flowsheet optimizations superior with completion anticipated by year-end.
- Submission of nearly all of the Dam Security Certification preliminary design packages to the Alaska Division of Pure Sources (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 evaluation the substantial work accomplished to this point and to debate subsequent steps for the Donlin Gold undertaking and associated actions for 2025.
- In collaboration with Calista Company (“Calista”) and The Kuskokwim Company (TKC), Donlin Gold achieved vital milestones in training, well being and security, cultural preservation, and environmental initiatives that embrace:
- Hosted Crooked Creek and Georgetown residents on a tour of the Donlin Gold undertaking.
- Participated in a public Open Home in Anchorage, offering Alaskans with the chance to be taught extra concerning the undertaking and interact 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 high-quality arts applications 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 undertaking 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 growth undertaking as one with a projected manufacturing lifetime of at the least 10 years, annual projected manufacturing of at the least 500,000 ounces of gold, and common projected money prices over the manufacturing life which can be within the decrease half of the trade value curve.
President’s Message
Targeted on Finalizing Key Mission Actions to Drive the Donlin Gold Mission Improvement
Through the third quarter of 2024, Donlin Gold superior key actions to place the undertaking to replace technical work and price estimates. Our dedication to a collaborative and inclusive strategy continues to learn all shareholders and stakeholders.
Principal actions included the development of metallurgical check work at a pilot plant in Ontario, Canada to verify 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 will probably be used for closure planning. Our work on the Dam Security Certification continues to progress with nearly all of the preliminary design packages submitted to the ADNR on June 17, 2024, with closing paperwork anticipated to be submitted by year-end. Feedback from the ADNR on the Dam Security Certification preliminary design packages are anticipated in 2025.
These complete efforts have delivered extremely beneficial insights for the Donlin Gold LLC Board and its homeowners. Guiding our technique for the Donlin Gold undertaking and its 2025 initiatives, these actions have been reviewed at our newest workshop in Alaska with Barrick and can contribute crucial knowledge for advancing Donlin Gold. NOVAGOLD is dedicated to advancing the undertaking with a concentrate on monetary prudence, engineering excellence, environmental duty, and a powerful security tradition.
Our outreach in Alaska, notably within the Yukon-Kuskokwim (Y-Ok) area, and in Washington, D.C., has strengthened group engagement and reinforces the undertaking’s social license. The Firm appreciates the diligent contributions of the Donlin Gold staff, companions, and stakeholders, and stays devoted to growing the undertaking to its full potential. With $105.6 million in money and time period deposits as of August 31, 2024, NOVAGOLD is well-positioned to assist this effort.
We have 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 sturdy shareholder engagement.
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 vital strides in area people and authorities engagement throughout the Y-Ok area, Alaska, and Washington, D.C. Strategically positioned on personal land designated by legislation for mineral growth underneath the Alaska Native Claims Settlement Act of 1971, the Donlin Gold undertaking enjoys deep involvement with Native Firms, 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 undertaking’s growth and allowing efforts. Over a long time, our dedication to participating with the 62 stakeholder communities within the Y-Ok area has constructed significant relationships, enhanced funding, and bolstered our social license. This longstanding dedication underscores the strategy of the Donlin Gold undertaking and its companions, Calista and TKC, to foster strong relationships with each native communities and governmental entities constructed on belief, transparency, respect and partnership.
In July, Donlin Gold hosted a undertaking website tour for a gaggle 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 be taught extra concerning the undertaking and to have interaction in open and clear discussions. NOVAGOLD was in attendance to take part, work together, and interact with key stakeholders.
These are simply two examples of the numerous engagements Donlin Gold prioritizes to boost consciousness and keep transparency across the undertaking.
Sustained Assist and Participation in Native Group and Environmental Initiatives All through the Y-Ok Area
NOVAGOLD stays deeply dedicated to group and social duty, upholding shared values on the Donlin Gold undertaking website and inside the Y-Ok area. By means of initiatives spanning training, group wellness, cultural preservation, and environmental stewardship, we assist fisheries research, environmental actions, subsistence, cultural preservation efforts, and numerous grants. Our collaboration with Calista and TKC has pushed a spread of actions and tasks over the previous quarter.
Since mid-2023, NOVAGOLD and Donlin Gold have intensified efforts with our Alaska Native Company companions to watch, survey and interact 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, amassing and safely disposing of family hazardous and digital waste from Y-Ok villages. This yr alone, roughly 140,000 kilos of fabric have been recycled, for a formidable whole of roughly 803,000 kilos of hazardous supplies faraway from the Y-Ok 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 numerous work environments whereas additionally aiding 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 assist educational engagement and college readiness throughout the State. Donlin Gold additionally shipped dictionaries to all college districts within the Y-Ok area for third graders as a part of The Dictionary Mission, a nationwide effort to advertise literacy and artistic thinkers, a undertaking they’ve participated in yearly since 2012.
Donlin Gold has additionally reaffirmed its dedication to the Alaska Faculty Actions Affiliation, supporting excessive school-level athletic, educational, and high-quality arts applications statewide. Donlin Gold’s ongoing monetary contributions spotlight our steadfast dedication to enhancing instructional and extracurricular alternatives for college kids all through Alaska.
NOVAGOLD stays dedicated to stakeholder engagement and group growth working carefully with Tribal communities and Alaska Native Firms to establish 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 undertaking’s permits towards authorized challenges — a technique that has confirmed extremely efficient in sustaining allow approvals to this point. The intricate allowing course of in the USA and Alaska calls for years of devoted, clear, and inclusive efforts to have interaction all stakeholders, together with these from the Y-Ok area. With a profound understanding of the regulatory panorama, Donlin Gold and its companions are dedicated to supporting Federal and State companies by means of any challenges to the undertaking’s permits and are actually concentrating on securing the remaining State-level permits and certificates wanted for the undertaking’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 setting. Because the second-largest gold-producing state in one of many world’s most secure nations at no cost enterprise 2 , Alaska provides 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 complicated world.
Earthjustice filed their opening transient with the Alaska Superior Courtroom 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 have been held on August 30, 2024. A choice is anticipated from the Alaska Superior Courtroom by 2025.
In different State litigation, following an unsuccessful enchantment to the ADNR Commissioner, Earthjustice filed their opening transient with the Alaska Supreme Courtroom on January 4, 2024, interesting the Alaska Superior Courtroom’s determination on Donlin Gold’s water rights permits. Moreover, briefing on Earthjustice’s enchantment of the Alaska Superior Courtroom affirmation of ADNR’s issuance of the State pipeline Proper-of-Manner (ROW) lease to the Alaska Supreme Courtroom 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 Courtroom issued a call 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 slender a view in analyzing the influence of a theoretical launch from the tailing storage facility. The Courtroom requested supplemental briefing on the suitable treatment for addressing this situation, 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 deal with the Courtroom’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 undertaking 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 vital potential. The undertaking boasts roughly 39 million ounces of gold at a grade of two.24 grams per tonne in Measured and Indicated Mineral Sources, inclusive of Confirmed and Possible Mineral Reserves 3 . This strong asset, with a projected mine lifetime of 27 years and common annual gold manufacturing in extra of one million ounces per yr, is just not solely projected to be a low-cost, open-pit producer, nevertheless it additionally provides exploration upside — extending past the presently outlined useful resource areas, which symbolize lower than half of the presently recognized eight-kilometer mineralized development.
Advancing Donlin Gold by means of its successive growth phases responsibly and successfully stays our high precedence. Since 2012, NOVAGOLD has enhanced the undertaking’s worth with out further fairness issuances, underscoring our dedication to strategic development and worth creation. Within the present macro setting, characterised by complicated and unstable market circumstances, 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 nicely positioned to grow to be among the best gold growth tasks which epitomizes each stability and alternative.
These quite a few accomplishments replicate the arduous work and diligence of our total staff — from managing Donlin Gold operations to participating with State and Federal companies, conducting research, and reaching out to communities throughout an enormous area. Our environmental, instructional, 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 undertaking safely and responsibly, with a transparent concentrate on creating substantial worth.
We deeply admire the unwavering assist and belief of our long-term shareholders, whose dedication and steerage have been instrumental to the Firm’s success. The outstanding dedication of those esteemed buyers, which embrace among the most revered names within the funding group, 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 undertaking with the very best requirements of security and social duty. Our paramount goal is to reinforce 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 Mission, Alaska, USA” with an efficient date of June 1, 2021 (the “2021 Technical Report”) and the report titled “S-Ok 1300 Technical Report Abstract on the Donlin Gold Mission, Alaska, USA” (the “S-Ok 1300 Technical Report Abstract”), dated November 30, 2021. Donlin Gold possesses Measured Sources of roughly 8 Mt grading 2.52 g/t and Indicated Sources 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 Sources and roughly 267 Mt of Indicated Sources inclusive of Reserves is attributable to NOVAGOLD by means of its 50% possession curiosity in Donlin Gold LLC. Unique of Mineral Reserves, Donlin Gold possesses Measured Sources of roughly 1 Mt grading 2.23 g/t and Indicated Sources of roughly 69 Mt grading 2.44 g/t, of which roughly 0.5 Mt of Measured Sources and roughly 35 Mt of Indicated Sources 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 Sources have been estimated in accordance with NI 43-101 and S-Ok 1300.
Monetary Outcomes
in hundreds of U.S. {dollars}, aside 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 $ |
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| 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 | ||||
| Complete 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 word | (3,833) | (3,433) | (11,132) | (9,589) | ||||
| Curiosity and dividend earnings | 1,194 | 1,501 | 4,265 | 4,180 | ||||
| Different earnings, internet | (14) | (66) | 1,708 | 904 | ||||
| Accretion of notes receivable | — | 145 | — | 579 | ||||
| Revenue 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 | ||||||
| Complete belongings | 114,731 | 133,290 | ||||||
| Complete 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.
Within the third quarter of 2024, internet 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 models and decrease discipline bills at Donlin Gold partially offset by larger common and administrative prices, elevated curiosity expense on the promissory word and decrease curiosity earnings on money and time period deposits. Donlin Gold bills have been decrease with diminished website exercise in 2024, in comparison with fieldwork and geotechnical drilling for the Alaska Dam Security certificates and hydrological drilling to assist mine planning and design in 2023. Normal and administrative bills elevated primarily attributable to larger skilled charges and worker compensation. Skilled charges elevated attributable to consulting charges primarily associated to ongoing efforts to reinforce the worth of the Donlin Gold undertaking by evaluating options to additional advance the undertaking. Salaries and advantages elevated primarily attributable to hiring of further workers. Revenue tax expense pertains to passive earnings taxable in Canada on a portion of curiosity earnings earned by U.S. subsidiaries, and for withholding taxes on the sale of the San Roque undertaking in Argentina through the first quarter of 2024.
Liquidity and Capital Sources
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 common and administrative prices, partially offset by curiosity earnings 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 common and administrative prices and a internet change in working capital. Funding necessities for Donlin Gold have 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 undertaking, and $16,950 for company common and administrative prices.
NOVAGOLD’s major objectives in 2024 embrace persevering with to advance the Donlin Gold undertaking towards a development determination; sustaining assist for Donlin Gold among the many undertaking’s stakeholders; selling a powerful tradition on security, sustainability, and the setting; sustaining a positive status of NOVAGOLD; and preserving a wholesome stability sheet. Our operations primarily relate to the supply of undertaking milestones, together with the achievement of assorted technical, environmental, sustainable growth, financial and authorized targets, acquiring crucial permits, completion of pre-feasibility and feasibility research, preparation of engineering designs and the financing to fund these targets.
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 supplied under.
About NOVAGOLD
NOVAGOLD is a well-financed valuable metals firm, solely targeted on the accountable and sustainable growth of its flagship Donlin Gold undertaking in Alaska, one of many most secure mining jurisdictions on the earth 4 . The Donlin Gold undertaking, 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. In accordance with the 2021 Technical Report and the S-Ok 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 undertaking concentrate on state allowing, engineering research, group and authorities engagement, and different environmental, instructional and cultural initiatives in preparation for the eventual development and operation of this undertaking. With a strong stability sheet, NOVAGOLD is nicely 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 score, 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-Ok 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 Word Concerning Ahead-Trying Statements
This media launch consists of sure “forward-looking data” and “forward-looking statements” (collectively “forward-looking statements”) inside the that means of relevant securities laws, together with the USA 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, circumstances, or outcomes “will”, “could”, “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-about applicable and cheap as of the date such statements are made, are topic to recognized and unknown dangers, uncertainties, assumptions, and different components that 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, apart from statements of historic reality, included herein are forward-looking statements. These forward-looking statements embrace statements relating to the anticipated timing of sure judicial and/or administrative selections; the 2024 outlook; the timing and potential for commencing a brand new feasibility research on the Donlin Gold undertaking; our objectives and expenditures for 2024; ongoing assist supplied to key stakeholders together with Native Company companions; Donlin Gold’s continued assist for the state and federal allowing course of; sufficiency of working capital; the potential growth and development of the Donlin Gold undertaking; the sufficiency of funds to proceed to advance growth of Donlin Gold, together with to a development determination; perceived advantage of properties; mineral reserve and mineral useful resource estimates; Donlin Gold’s capability to safe the permits wanted to assemble and function the Donlin Gold undertaking in a well timed method, if in any respect; authorized challenges to Donlin Gold’s current permits and the timing of choices in these challenges; whether or not the Donlin Gold LLC board will proceed to advance the Donlin Gold undertaking safely, socially responsibly and to generate worth for our stakeholders; continued cooperation between the homeowners of Donlin Gold LLC to advance the undertaking; the Firm’s capability to ship on its technique with the Donlin Gold undertaking, growing shareholder and stakeholder wealth; the success of the strategic mine plan for the Donlin Gold undertaking; the success of the Donlin Gold group relations plan; the result of exploration drilling on the Donlin Gold undertaking and the timing thereof; the completion of check work and modeling and the timing thereof. As well as, any statements that confer with expectations, intentions, projections or different characterizations of future occasions or circumstances are forward-looking statements. Ahead-looking statements aren’t historic details however as an alternative symbolize the expectations of NOVAGOLD administration’s estimates and projections relating to future occasions or circumstances on the date the statements are made. Vital components that might trigger precise outcomes to vary materially from expectations embrace the necessity to get hold of further permits and governmental approvals; the timing and chance of acquiring and sustaining permits essential to assemble and function; the necessity for extra 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 checks and the estimation of reserves and assets; modifications in mineral manufacturing efficiency, exploitation and exploration successes; modifications in nationwide and native authorities laws, taxation, controls or rules and/or modifications within the administration of legal guidelines, insurance policies and practices, expropriation or nationalization of property and political or financial developments in the USA or Canada; the necessity for continued cooperation between Barrick and NOVAGOLD for the continued exploration, growth and eventual development of the Donlin Gold property; the necessity for extra 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 growth and operation of properties; dangers of development and mining tasks akin to accidents, gear breakdowns, unhealthy climate, illness pandemics, non-compliance with environmental and allow necessities, unanticipated variation in geological constructions, ore grades or restoration charges; surprising value will increase, which might embrace vital will increase in estimated capital and working prices; fluctuations in steel costs and foreign money change charges; whether or not or when a constructive development determination will probably be made relating to the Donlin Gold undertaking; and different dangers and uncertainties disclosed in NOVAGOLD’s most up-to-date studies on Types 10-Ok and 10-Q, notably the “Danger Elements” sections of these studies and different paperwork filed by NOVAGOLD with relevant securities regulatory authorities every now and then. 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 replicate 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 components, ought to they modify, besides as required by legislation.
