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:
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 GagnonManager, Investor Relations 778-990-0299 or
1-866-669-6227
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.
_____________________________________________________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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/dfef9e75-dcf4-4f66-b621-9a0b379a64a0
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