Robust Treasury of Roughly $106 Million in Money and Time period Deposits
NOVAGOLD RESOURCES INC. (“NOVAGOLD” or the “Firm”) (NYSE American, TSX: NG) at present 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 introduced 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} except in any other case said.
Within the third quarter of 2024, the next milestones have 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 acquired in 2025.
- Up to date useful resource modelling by the Donlin Gold group and a third-party marketing consultant nearing completion.
- Incorporation of subject 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 evaluate the substantial work accomplished up to now 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 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 undertaking.
- Participated in a public Open Home in Anchorage, offering Alaskans with the chance to study extra in regards to 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 information between generations.
- Elevated collaboration with the Alaska College Actions Affiliation, a statewide nonprofit group devoted to the event of excessive school-level athletic, educational, and effective arts packages throughout the State.
- NOVAGOLD reported the next:
- Appointment of Peter Adamek, a seasoned monetary government 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.
_______________
1 NOVAGOLD defines a Tier One gold growth undertaking 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 can be within the decrease half of the trade price curve.
President’s Message
Targeted on Finalizing Key Challenge Actions to Drive the Donlin Gold Challenge Growth
In the course of the third quarter of 2024, Donlin Gold superior key actions to place the undertaking to replace technical work and value estimates. Our dedication to a collaborative and inclusive strategy continues to profit 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 group and a third-party marketing consultant that can also be nearing completion. As well as, latest Donlin Gold subject knowledge was used to replace groundwater and floor water fashions, whereas geochemical knowledge assortment continues and can 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 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 worthwhile insights for the Donlin Gold LLC Board and its house owners. 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 important knowledge for advancing Donlin Gold. NOVAGOLD is dedicated to advancing the undertaking with a give attention to monetary prudence, engineering excellence, environmental duty, and a powerful security tradition.
Our outreach in Alaska, significantly within the Yukon-Kuskokwim (Y-Okay) area, and in Washington, D.C., has strengthened neighborhood engagement and reinforces the undertaking’s social license. The Firm appreciates the diligent contributions of the Donlin Gold group, companions, and stakeholders, and stays devoted to creating 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 more than 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 government with over 20 years of expertise, most not too long ago with Hudbay Minerals Inc. He joins a management group that has persistently demonstrated diligence and accountable capital stewardship whereas enhancing worth and upholding robust 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-Okay area, Alaska, and Washington, D.C. Strategically situated on non-public land designated by legislation for mineral growth below the Alaska Native Claims Settlement Act of 1971, the Donlin Gold undertaking enjoys deep involvement with Native Companies, strengthening our connections with folks 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 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 strategy of the Donlin Gold undertaking and its companions, Calista and TKC, to foster sturdy relationships with each native communities and governmental entities constructed on belief, transparency, respect and partnership.
In July, Donlin Gold hosted a undertaking web site 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 study extra in regards to 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 various engagements Donlin Gold prioritizes to lift consciousness and keep transparency across the undertaking.
Sustained Assist and Participation in Native Group and Environmental Initiatives All through the Y-Okay Area
NOVAGOLD stays deeply dedicated to neighborhood and social duty, upholding shared values on the Donlin Gold undertaking web site and throughout the Y-Okay area. Via initiatives spanning schooling, neighborhood wellness, cultural preservation, and environmental stewardship, we assist fisheries research, environmental actions, subsistence, cultural preservation efforts, and varied grants. Our collaboration with Calista and TKC has pushed a spread of actions and initiatives 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-Okay villages. This yr alone, roughly 140,000 kilos of fabric have been recycled, for a formidable complete 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 time Youth Employment program, offering native youth with hands-on expertise in varied 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 information and assist educational engagement and college 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 undertaking they’ve participated in yearly since 2012.
Donlin Gold has additionally reaffirmed its dedication to the Alaska College Actions Affiliation, supporting excessive school-level athletic, educational, and effective arts packages statewide. Donlin Gold’s ongoing monetary contributions spotlight our steadfast dedication to enhancing academic and extracurricular alternatives for college students all through Alaska.
NOVAGOLD stays dedicated to stakeholder engagement and neighborhood growth working intently 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 undertaking’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 USA 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 via 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, significantly as rules range throughout areas, the State of Alaska stands out as a secure and dependable funding surroundings. Because the second-largest gold-producing state in one of many world’s most secure international locations totally free enterprise 2 , Alaska affords 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.
Earthjustice filed their opening transient with the Alaska Superior Court docket on January 5, 2024, interesting the Alaska Division of Environmental Conservation Commissioner’s resolution 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 Court docket by 2025.
In different State litigation, following an unsuccessful enchantment to the ADNR Commissioner, Earthjustice filed their opening transient with the Alaska Supreme Court docket on January 4, 2024, interesting the Alaska Superior Court docket’s resolution 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-Approach (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 File of Determination, together with the 404 allow and ROW for parts of the pipeline crossing federal lands, the Court docket 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 slim a view in analyzing the influence 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 deal with the Court docket’s resolution .
_______________
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 not too long ago 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 Assets, inclusive of Confirmed and Possible Mineral Reserves 3 . This sturdy asset, with a projected mine lifetime of 27 years and common annual gold manufacturing in extra of 1,000,000 ounces per yr, is just not solely projected to be a low-cost, open-pit producer, but it surely additionally affords exploration upside — extending past the at the moment outlined useful resource areas, which characterize lower than half of the presently recognized eight-kilometer mineralized pattern.
Advancing Donlin Gold via its successive growth phases responsibly and successfully stays our high precedence. Since 2012, NOVAGOLD has enhanced the undertaking’s worth with out extra fairness issuances, underscoring our dedication to strategic development and worth creation. Within the present macro surroundings, characterised by advanced and risky market situations, Donlin Gold stands out as a uncommon and actually distinctive “Tier 1 Asset” situated 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 top-of-the-line gold growth initiatives which epitomizes each stability and alternative.
These quite a few accomplishments mirror the onerous work and diligence of our total group — 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 because of 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 give attention to creating substantial worth.
We deeply recognize 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 embody a few of the most revered names within the funding neighborhood, constitutes the cornerstone of our progress. We deeply worth their resolution 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 best requirements of security and social duty. 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
_______________
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 via 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.
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 $ |
|||||
| Common 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 notice | (3,833) | (3,433) | (11,132) | (9,589) | ||||
| Curiosity and dividend revenue | 1,194 | 1,501 | 4,265 | 4,180 | ||||
| Different revenue, internet | (14) | (66) | 1,708 | 904 | ||||
| Accretion of notes receivable | — | 145 | — | 579 | ||||
| Earnings tax expense | (156) | — | (855) | (75) | ||||
| Internet loss | (10,743) | (11,074) | (34,761) | (36,382) | ||||
| Internet Loss per share, primary and diluted | (0.03) | (0.03) | (0.11) | (0.11) | ||||
| At | At | |||||||
| August 31, 2024 $ |
November 30, 2023 $ |
|||||||
| 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 resulting from decrease stock-based compensation expense associated to forfeiture of choices and efficiency share models and decrease subject bills at Donlin Gold partially offset by greater basic and administrative prices, elevated curiosity expense on the promissory notice and decrease curiosity revenue on money and time period deposits. Donlin Gold bills have been decrease with diminished web site 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. Common and administrative bills elevated primarily resulting from greater skilled charges and worker compensation. Skilled charges elevated resulting from consulting charges primarily associated to ongoing efforts to boost the worth of the Donlin Gold undertaking by evaluating options to additional advance the undertaking. Salaries and advantages elevated primarily resulting from hiring of extra 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 undertaking in Argentina in the course of the first quarter of 2024.
Liquidity and Capital Assets
Within the third quarter and first 9 months of 2024, money equivalents decreased by $6,996 and $177, respectively, primarily resulting from Donlin Gold funding and company basic 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 resulting from elevated company basic 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 basic and administrative prices.
NOVAGOLD’s major targets in 2024 embody persevering with to advance the Donlin Gold undertaking towards a development resolution; sustaining assist for Donlin Gold among the many undertaking’s stakeholders; selling a powerful tradition on security, sustainability, and the surroundings; sustaining a positive popularity of NOVAGOLD; and preserving a wholesome steadiness sheet. Our operations primarily relate to the supply of undertaking milestones, together with the achievement of assorted technical, environmental, sustainable growth, financial and authorized goals, acquiring obligatory permits, completion of pre-feasibility and feasibility research, preparation of engineering designs and the financing to fund these goals.
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 this planet 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-Okay 1300 Technical Report Abstract (each as outlined in footnote 3) Donlin Gold is predicted to supply 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 at the moment covers three kilometers of an roughly eight-kilometer-long gold-bearing pattern. Present actions on the Donlin Gold undertaking give attention to 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 undertaking. With a sturdy steadiness sheet, NOVAGOLD is effectively positioned to finance its share of present actions.
_______________
4 Per Mining Journal intelligence – World Danger Report 2023 Alaska acquired 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-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 Be aware Concerning Ahead-Trying Statements
This media launch consists of sure “forward-looking data” and “forward-looking statements” (collectively “forward-looking statements”) throughout the that means of relevant securities laws, together with the USA Personal Securities Litigation Reform Act of 1995. Ahead-looking statements are regularly, however not at all times, recognized by phrases comparable to “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “attainable”, and related expressions, or statements that occasions, situations, or outcomes “will”, “could”, “might”, “would” or “ought to” happen or be achieved. Ahead-looking statements are essentially primarily based on a number of opinions, estimates and assumptions that administration of NOVAGOLD thought of applicable and cheap as of the date such statements are made, are topic to identified 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, aside from statements of historic reality, included herein are forward-looking statements. These forward-looking statements embody statements relating to the anticipated timing of sure judicial and/or administrative choices; the 2024 outlook; the timing and potential for commencing a brand new feasibility examine on the Donlin Gold undertaking; our targets 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 resolution; perceived advantage of properties; mineral reserve and mineral useful resource estimates; Donlin Gold’s means 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 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 undertaking safely, socially responsibly and to generate worth for our stakeholders; continued cooperation between the house owners of Donlin Gold LLC to advance the undertaking; the Firm’s means 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 neighborhood relations plan; the result of exploration drilling on the Donlin Gold undertaking and the timing thereof; the completion of take a look at work and modeling and the timing thereof. As well as, any statements that check 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 an alternative characterize the expectations of NOVAGOLD administration’s estimates and projections relating to future occasions or circumstances on the date the statements are made. Essential components that might trigger precise outcomes to vary materially from expectations embody the necessity to get hold of extra 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 assessments and the estimation of reserves and assets; 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 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 added capital if NOVAGOLD decided to proceed with an up to date feasibility examine by itself; the necessity for cooperation of presidency companies and Native teams within the growth and operation of properties; dangers of development and mining initiatives comparable to accidents, gear breakdowns, dangerous climate, illness pandemics, non-compliance with environmental and allow necessities, unanticipated variation in geological constructions, ore grades or restoration charges; surprising price will increase, which might embody vital will increase in estimated capital and working prices; fluctuations in metallic costs and forex trade charges; whether or not or when a optimistic development resolution can be made relating to the Donlin Gold undertaking; and different dangers and uncertainties disclosed in NOVAGOLD’s most up-to-date experiences on Kinds 10-Okay and 10-Q, significantly the “Danger Components” sections of these experiences and different paperwork filed by NOVAGOLD with relevant securities regulatory authorities every so often. 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 components, ought to they alter, besides as required by legislation.
