Completion of 2023 Fieldwork, Permits Maintained, and Continuous Work at
Donlin Gold that Enhances the Project’s Value and Visibility
Strong Treasury of $126M in Cash and Term Deposits
Welcomed Ben Machlis as VP General Counsel & Promoted Richard Williams as
COO
? NOVAGOLD’s treasury remains healthy with $126 million in cash and term deposits as of November 30,
2023, which includes the $25 million note payment received from Newmont in July 2023, keeping
NOVAGOLD in a strong financial position to advance the Donlin Gold project up the value chain.
? The Donlin Gold fieldwork was safely and successfully completed in July with a total of 44 direct hire
employees, 63% being from the Yukon-Kuskokwim (Y-K) region.
? Trade-off studies and extensive analysis on project assumptions, inputs, design components for
optimization (mine engineering, metallurgy, hydrology, power, and infrastructure) were advanced to
inform the next steps in taking the project further up the value chain.
January 24, 2024 – Vancouver, British Columbia – NOVAGOLD RESOURCES INC. (“NOVAGOLD” or “the
Company”) (NYSE American, TSX: NG) today released its fiscal year 2023 financial results and an update on
Donlin Gold, its Tier One11 gold development project which NOVAGOLD owns equally with Barrick Gold
Corporation (“Barrick”).
Details of the financial results for the year ended November 30, 2023, are presented in the consolidated
financial statements and annual report on Form 10-K filed on January 24, 2024 that is available on the
Company’s website at www.novagold.com, on SEDAR at www.sedarplus.ca, and on EDGAR at www.sec.gov.
All amounts are in U.S. dollars unless otherwise stated.
In 2023, the following milestones were achieved at NOVAGOLD and Donlin Gold:
? Successfully completed the Donlin Gold field program in July, which encompassed:
? The completion of comprehensive fieldwork and geotechnical drilling required to complete
the Alaska Dam Safety certification applications;
? Fieldwork to further characterize groundwater flow at the site, including 1,279 m of
hydrogeologic drilling with instrumentation and pump tests, providing important information
for mine planning and design;
? Lyman family’s historic placer site restoration, with pond habitat creation advanced;
anticipated aquatic life access and use planned for the 2024 field season.
? Held meetings in Alaska with State officials and the U.S. Army Corps of Engineers (“Corps”) – in partnership with Calista Corporation (“Calista”) and the village of Crooked Creek – to emphasize the
project's comprehensive environmental review and permitting processes, as well as the close collaboration with Native Alaskan landowners.


1 NOVAGOLD defines a Tier One gold development project as one with a projected production life of at least 10 years, annual projected production of at least 500,000 ounces
of gold, and average projected cash costs over the production life that are in the lower half of the industry cost curve. see & read more on
https://www.novagold.com/_resources/news/nr-20240124.pdf