NovaGold Resources Inc. (NYSE:NG) Q1 2025 Earnings Conference Call April 1, 2025 11:00 AM ET Company Participants Melanie Hennessey - VP, Corporate Communications Greg Lang - President and CEO Peter Adamek - VP and CFO Conference Call Participants Fedor Shabalin - B. Riley Rabi Nizami - National Bank Financial Operator Thank you for standing by. This is the conference operator. Welcome to the NovaGold Resources Inc. First Quarter 2025 Financial Results Conference Call and Webcast. As a reminder, all partici ...

Financial Position - As of February 28, 2025, NOVAGOLD held approximately $93 million in cash and term deposits, with net cash expenditures of $8.3 million for the first quarter, including $3.6 million for the Donlin Gold project[3] - The company reported a net loss of $9.1 million for the first quarter of 2025, translating to an earnings per share of ($0.03)[3] - NOVAGOLD's liquidity position remains strong, with cash and cash equivalents decreasing by $8.3 million in the first quarter, primarily due to funding for the Donlin Gold project and corporate expenses[21] - The need for additional financing for exploration and development remains a critical factor for the company's future plans[32] Donlin Gold Project - The Donlin Gold project is projected to produce over 1 million ounces of gold annually, with a mine life of at least 27 years and an average cash cost of $635 per ounce[20] - Donlin Gold has approximately 39 million ounces of gold in Measured and Indicated Resources at a grade of 2.24 grams per tonne, which is more than double the industry average of 1.03 grams per tonne[19] - The company commenced its 2025 field program with plans for approximately 15,000 meters of drilling, primarily focused on grid drilling to enhance mine planning[5] - Donlin Gold is ranked 4th in Measured and Indicated contained ounces among primary gold development projects as of March 2025[6] - NOVAGOLD anticipates significant expenditures related to the Donlin Gold project, with a focus on advancing development and securing necessary permits[32] - The company is preparing for a new feasibility study on the Donlin Gold project, with potential milestones expected to be achieved in the coming years[32] - NOVAGOLD emphasizes the importance of cooperation with key stakeholders, including Native Corporation partners, to support the permitting process[32] - Legal challenges to existing permits may impact the timeline for the Donlin Gold project, highlighting the need for ongoing monitoring of judicial decisions[32] Community and Sustainability Initiatives - NOVAGOLD is committed to advancing Donlin Gold toward a feasibility study and subsequent construction decision while maintaining strong community outreach and sustainability initiatives[25] - The company has engaged in collaborations with local communities and organizations to support ecological, educational, and cultural initiatives in the Y-K region[8] - The company is focused on the success of its community relations plan and exploration drilling outcomes at the Donlin Gold project[32] Risks and Uncertainties - Fluctuations in metal prices and currency exchange rates pose risks to the financial outlook and operational performance of NOVAGOLD[32] - NOVAGOLD's management acknowledges various risks and uncertainties that could materially affect actual results compared to expectations[32] - The company is assessing its working capital sufficiency to continue advancing the Donlin Gold project towards a construction decision[32] Budget and Expenditures - The 2025 budgeted cash expenditures are approximately $37.5 million, including $21.5 million for the Donlin Gold project and $16 million for corporate general and administrative costs[24]

Financial Performance - In Q1 2025, the net loss decreased by $1,202 compared to Q1 2024, primarily due to lower stock-based compensation and Donlin Gold expenditures [74]. - As of February 28, 2025, cash and cash equivalents decreased by $8,255, primarily to fund Donlin Gold and corporate expenses [77]. Donlin Gold Project - Donlin Gold's share of funding in Q1 2025 was $3,614, with an expected annual share of $21,500 for 2025 [64]. - The company has total cash and term deposits of $92,969, sufficient to cover anticipated funding for the Donlin Gold project and corporate costs for at least the next two years [75]. - Budgeted cash expenditures for fiscal year 2025 are approximately $37,500, including $21,500 for the Donlin Gold project and $16,000 for corporate general and administrative costs [76]. - The Donlin Gold project plans to conduct 15,000 meters of drilling in 2025, focusing on grid drilling to develop modifying factors and mine planning input parameters [62]. Community Commitment - Donlin Gold maintained its commitment to community initiatives, including financial assistance for local infrastructure and youth programs [66][67]. Legal and Regulatory Matters - The company is actively defending its permits in ongoing litigation, with decisions anticipated in 2025 [69][70]. Shareholder Information - The company had 334,646,571 common shares issued and outstanding as of March 26, 2025 [79]. Interest Rate Sensitivity - A 1% change in the U.S. prime rate would result in an increase/decrease of approximately $1.6 million in interest accrued on the promissory note owed to Barrick per annum [83].

VANCOUVER, British Columbia, April 01, 2025 (GLOBE NEWSWIRE) -- NOVAGOLD RESOURCES INC. ("NOVAGOLD" or "the Company") ((NYSE American, TSX:NG) today filed its 2025 first quarter report and provided an update on its Tier One1 gold development project, Donlin Gold, which NOVAGOLD owns equally with Barrick Gold Corporation ("Barrick"). Details of the financial results for the quarter ended February 28, 2025, are presented in the consolidated financial statements and quarterly report on Form 10-Q filed on April ...

VANCOUVER, British Columbia, March 19, 2025 (GLOBE NEWSWIRE) -- NOVAGOLD RESOURCES INC. ("NOVAGOLD" or "the Company" (NYSE American, TSX: NG) will release its 2025 first quarter report before market open on April 1, 2025, followed by a conference call and video webcast to discuss the results at 8:00 am PT (9:00 am MT/11:00 am ET). During the webcast, NOVAGOLD's President and Chief Executive Officer, Greg Lang; and Vice President and Chief Financial Officer, Peter Adamek, will provide a summary of the Compan ...

Core Points - NOVAGOLD RESOURCES INC. will release its 2025 first quarter report on April 1, 2025, before market open [1] - A conference call and video webcast will follow at 8:00 am PT to discuss the financial results and provide an update on the Donlin Gold project [2] Company Information - The conference will feature NOVAGOLD's President and CEO, Greg Lang, and Vice President and CFO, Peter Adamek, summarizing the financial results [2] - Questions can be submitted prior to the call and during the webcast [2] - The video webcast will be archived on NOVAGOLD's website for one year [3]

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Financial Data and Key Metrics - No specific financial data or key metrics were provided in the content [1][2][3][4][5] Business Line Data and Key Metrics - No specific business line data or key metrics were provided in the content [1][2][3][4][5] Market Data and Key Metrics - No specific market data or key metrics were provided in the content [1][2][3][4][5] Company Strategy and Industry Competition - The company views the Donlin Gold project as a Tier 1 asset, emphasizing its high quality and the scarcity of such projects in secure jurisdictions [5] - The recent surge in the price of gold is highlighted as a favorable condition for the Donlin Gold project [5] Management Commentary on Operating Environment and Future Outlook - No specific commentary on the operating environment or future outlook was provided in the content [1][2][3][4][5] Other Important Information - The company reminded participants that any forward-looking statements made during the call may involve risks detailed in their EDGAR and SEDAR filings [4] - Questions will be taken by phone and via email after the webcast [4] Q&A Session - No Q&A session details were provided in the content [1][2][3][4][5]

2024 Year-End Report & Donlin Gold Update January 23, 2025 TSX, NYSE AMERICAN: NG | NOVAGOLD.COM 2024 YEAR-END WEBCAST & CONFERENCE CALL AGENDA Introduction Peter Adamek Vice President & Chief Financial Officer 2 NOVAGOLD | 2024 Year-End Report & Donlin Gold Project Update Mélanie Hennessey Vice President, Corporate Communications 2024 Year-End Update Greg Lang President & Chief Executive Officer 2024 Year-End Financials Generational asset with strong, investor-friendly attributes CAUTIONARY STATEMENTS REGA ...

Donlin Gold Project Development - Donlin Gold project advanced key activities in 2024, including completion of metallurgical test work and submission of preliminary design packages for Dam Safety Certification to ADNR, with comments expected in 2025[47] - Donlin Gold's board approved a 2025 budget of $43 million on a 100% basis, focusing on grid drilling, mine planning, Dam Safety Certificate applications, and community relations[48] - Donlin Gold held public open houses in Anchorage, Bethel, and Crooked Creek, and established three additional Shared Values Statements, totaling 18, to support local communities[49] - The Donlin Gold project is subject to seasonal limitations due to Alaska's northern climate, with surface work often limited to late spring through early fall[58] Environmental and Regulatory Compliance - The company is required to conduct reclamation efforts in accordance with detailed plans approved by regulatory agencies, providing financial assurance for reclamation[51] Market and Financial Conditions - NOVAGOLD competes with other mineral resource companies for financing and technical expertise, facing challenges from competitors with greater financial resources[55] - Gold prices in 2024 ranged from $1,985 to $2,784 per ounce, with an average of $2,387, and reached $2,670 per ounce on January 13, 2025[60] - A 1% change in the U.S. prime rate would result in an approximate $1.5 million change in interest accrued on the promissory note owed to Barrick annually[401] Resource and Workforce Management - The company has historically been able to secure necessary raw materials and skilled employees, with no expected shortages in the foreseeable future[56][57]