Strong Outcome Confirms Follow-Up Drill Program Planned for 2021
ANCHORAGE, Alaska – Donlin Gold LLC (“Donlin Gold”), owned 50/50 by Barrick Gold Corporation (“Barrick”) (TSX: ABX) (NYSE: GOLD) and NOVAGOLD RESOURCES INC. (“NOVAGOLD”) (TSX, NYSE American: NG), is pleased to share the last set of assay results from the successful 2020 85-hole, 23,361-meter drill program.

Assay results for all 85 completed holes now reported, representing a final total of 23,361 meters drilled
Assay results demonstrate higher drilled grade-thickness than predicted by previous modelling
Data collected has resulted in an improved appreciation of the controls on mineralization
Drill program results will be integrated into the geologic model
The Board of Donlin Gold is considering additional confirmation and extension drilling to expand upon recent successes and fresh insights into the continuity and structural controls of the higher-grade mineralization.

Exceeding Expectations, Safely
The primary objective of the 2020 drill program, the largest such campaign at Donlin Gold since 2008, was to validate and increase the confidence in recent geologic modeling concepts.

Results in both the ACMA and Lewis deposit areas exceeded grade-thickness predicted by previous modeling, with higher grades observed over narrower intervals, particularly in sedimentary rocks.

Additional confirmation and extension drilling are being planned for the 2021 field season with a focus on further testing, orebody continuity, structural control, and geotechnical and geometallurgical data collection and analysis. The drilling program specifics will be finalized once all assay results have been integrated into an interim model update. It is anticipated that on the completion of the 2021 drilling program and a final geologic model update, the focus will then shift to updating the feasibility study subject to a formal decision by the Board.

Five of the top intervals received or updated since the January 19, 2021 media release include:

DC20-1930 intersected 51.15 m grading 4.6 g/t gold, starting at 148.85 m drilled depth, including a sub interval of 7.60 m grading 12.4 g/t gold, starting at 182.40 m drilled depth;
DC20-1932 intersected 47.66 m grading 4.8 g/t gold, starting at 101.62 m drilled depth, including a sub interval of 4.00 m grading 19.5 g/t gold, starting at 143.28 m drilled depth;
DC20-1948 intersected 22.61 m grading 8.7 g/t gold, starting at 161.50 m drilled depth, including a sub interval of 10.08 m grading 15.5 g/t gold, starting at 167.50 m drilled depth;
DC20-1938 intersected 17.96 m grading 10.5 g/t gold, starting at 1.83 m drilled depth, including a sub interval of 3.96 m grading 28.0 g/t gold, starting at 1.83 m drilled depth; and
DC20-1946 intersected 35.80 m grading 4.5 g/t gold, starting at 96.20 m drilled depth.
Drill hole collar locations and five of the top intervals since the January 19, 2021 release are shown in Figure 1
Drill hole orientations and depths and significant intervals are shown in Tables 1 and 2, respectively, in the Appendix at the end of this release.
These results were accomplished between March and October 2020 with zero COVID-19 cases on site and no Lost-Time Incidents.

Statements by the Owners
Barrick President and Chief Executive Mark Bristow said, “The highly successful and COVID-free conclusion of the 2020 drill program, and in particular the strong results Barrick and NOVAGOLD have been sharing over the past eight months, represent a major step forward in improving the geological confidence in the Donlin project, a necessary step to advancing Donlin up the value chain.” He extended his thanks to the Donlin Gold team.

Greg Lang, NOVAGOLD’s President and CEO, said, “On every level, the results of the largest drill program at Donlin Gold in 12 years have been incredibly rewarding for the partnership and all stakeholders. Since we released the initial results in August last year, the assays have consistently revealed higher-grade gold intersections. These have only served to elevate Donlin Gold’s confidence in the recent geologic modeling concepts developed by the Barrick and NOVAGOLD teams, while confirming multiple high-grade extensions in both the intrusive (igneous) and sedimentary rocks, including near surface. One such near surface hit in drill hole DC20-1938, revealed today in this final set of results, intersected 17.96 m grading 10.5 g/t gold including 3.96 m grading 28.0 g/t gold starting at 1.83 m drilled depth. Needless to say, the assay results from the 2020 drill program further strengthen our resolve and belief in the extraordinary nature of Donlin Gold and provide us with a wealth of new knowledge to integrate into an updated geologic model.”

Dan Graham, General Manager of the Donlin Gold JV added, “By far, our most important objective in 2020 was to protect the health and safety of our workforce, contractors, and the residents of the Yukon-Kuskokwim (Y-K) region. Despite the added challenge of navigating a pandemic, all 2020 drill program objectives were transcended and accomplished with zero COVID-19 cases on site and no Lost-Time Incidents. This is a testament to the professionalism and teamwork of all involved. It is an honor to work directly with our Alaska Native Corporation partners, Calista Corporation (“Calista”) and The Kuskokwim Corporation (“TKC”), as well as the communities in the Y-K region. Thanks to the Donlin Gold team, as well as to Calista and TKC for their dedication to the highest standards of safety, social responsibility, and environmental stewardship. We are all proud to be bringing a federally permitted project up the value chain in one of the world’s most stable jurisdictions, the great State of Alaska, where there are numerous examples of socially and environmentally responsible mining projects, we as an industry can be proud of, and which can provide long-lasting benefits to future generations.”

About Donlin Gold
Donlin Gold LLC is an Alaska-based company owned equally by Barrick Gold U.S. Inc. and NovaGold Resources Alaska, Inc., which are wholly owned subsidiaries of Barrick and NOVAGOLD, respectively.

Donlin Gold is located in Alaska, the second largest gold-producing state in the U.S. With approximately 39 million ounces of gold grading 2.24 grams per tonne in the measured and indicated resource categories (100 percent basis) 1 , Donlin Gold hosts one of the largest and highest-grade undeveloped open-pit gold endowments in the world. The planned pits in which the existing resources are sited occupy only three kilometers of an eight-kilometer mineralized belt, which itself is located on less than 5% of Donlin Gold’s land position. Current activities at Donlin Gold are focused on the drill program, optimization efforts, community outreach, and advancing the remaining State permitting actions.

Donlin Gold is a committed partner to the Alaska Native Communities both surrounding the project and within the State as a whole. This commitment underpins our approach and is also reflected in the way in which the asset itself is structured. An important factor that distinguishes Donlin Gold from most other mining assets in Alaska is that the project is located on private land designated for mining activities five decades ago. Donlin Gold has entered into life-of-mine agreements with Calista, which owns the subsurface mineral rights, and TKC, a collection of 10 village corporations, which owns the surface land rights, and is committed to providing employment opportunities, scholarships, and preferential contract considerations to Calista and TKC shareholders. These agreements include a revenue-sharing structure, established by the Alaska Native Claims Settlement Act (ANSCA) of 1971, which resolved Alaska Native land claims, allotting 44 million acres of land for use by Alaska Native Corporations. Additionally, our long-term commitment to economic development is exemplified by Donlin Gold’s support of TKC’s initiative to launch energy and infrastructure projects in middle Kuskokwim villages. These partnerships, activities, and programs are illustrative of the commitment to the sustainable and responsible development of the Donlin Gold project for the benefit of all stakeholders.

Donlin Gold data as per the Second Updated Feasibility Study (as defined below). Donlin Gold 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, of which Barrick and NOVAGOLD each own 50%. Mineral resources have been estimated in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

FIGURE 1 Drill Hole Collar Locations
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