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 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]

Core Insights - The article highlights the investment strategies and achievements of Paul Franke, a seasoned investor with 38 years of trading experience, emphasizing his contrarian stock selection style and algorithmic analysis of market data [1]. Group 1: Investment Strategies - Paul Franke developed a system called "Victory Formation," which focuses on identifying supply/demand imbalances through specific stock price and volume movements [1]. - The "Bottom Fishing Club" articles target deep-value stocks or those showing significant upward technical momentum reversals [1]. - The "Volume Breakout Report" articles analyze positive trend changes supported by strong price and volume trading activity [1]. Group 2: Performance and Recognition - Franke was consistently ranked among the top investment advisors nationally during the 1990s and achieved the 1 position in the Motley Fool® CAPS stock picking contest in 2008 and 2009, out of over 60,000 portfolios [1]. - As of September 2024, he is ranked in the Top 3% of bloggers by TipRanks® for 12-month stock picking performance over the last decade [1]. Group 3: Risk Management - Franke advises investors to implement stop-loss levels of 10% or 20% on individual stock choices and to maintain a diversified portfolio of at least 50 well-positioned stocks to enhance regular stock market outperformance [1].

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]

Financial Performance and Expenditures - NOVAGOLD held a strong treasury of approximately $101 million in cash and term deposits as of November 30, 2024, with net annual cash expenditures of $24.5 million, below the 2024 expenditure guidance of $31.2 million[3] - NOVAGOLD's 2025 expenditure is anticipated to be approximately $37.5 million, including $21.5 million for Donlin Gold and $16.0 million for corporate general and administrative costs[27] - NOVAGOLD reported earnings of ($45.6) million and earnings per share of ($0.14) for the 2024 fiscal year, reflecting expenditures in line with budget[3] - NOVAGOLD has a robust balance sheet to finance its share of current activities at Donlin Gold[31] Donlin Gold Project Development - Donlin Gold's 2025 budget was approved at $43 million (100% basis), focusing on key areas such as camp operations, grid drilling, and mine planning[5] - Donlin Gold submitted preliminary design packages for Dam Safety Certification to ADNR in 2024, with potential issuance expected in 2026/2027[14] - Donlin Gold received an 18-month extension on its air quality permit through July 2026, with other permits administratively extended until renewal[15] - Donlin Gold's resource model was advanced in 2024, with metallurgical test work completed to confirm optimizations to the flowsheet[6][9] - Current activities at Donlin Gold focus on state permitting, engineering studies, and community engagement in preparation for construction and operation[31] - The 2025 outlook includes potential commencement of a new feasibility study for Donlin Gold[33] - NOVAGOLD anticipates expenditures and goals for 2025, including support for key stakeholders and permitting processes[33] - The company is focused on advancing Donlin Gold safely, responsibly, and sustainably to generate value for stakeholders[33] - NOVAGOLD's strategy includes increasing shareholder and stakeholder wealth through the Donlin Gold project[33] - The success of the Donlin Gold community relations plan and exploration drilling outcomes are key forward-looking statements[33] Donlin Gold Resource and Production Estimates - 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, with an anticipated life of mine operating cash cost of $635 per gold ounce[21][22] - Donlin Gold is projected to produce over 1.1 million ounces of gold annually over a 27-year mine life, ranking it among the largest gold assets globally[18][22] - Donlin Gold project has approximately 39 million ounces of gold in Measured and Indicated Mineral Resource categories, with 541 million tonnes at an average grade of 2.24 grams per tonne[31] - Donlin Gold is expected to produce an average of approximately 1 million ounces of gold annually over a 27-year mine life[31] - The Donlin Gold open pit currently covers 3 kilometers of an approximately 8-kilometer-long gold-bearing trend[31] Environmental and Community Engagement - Donlin Gold launched a salmon smolt monitoring program in 2024, partnering with local communities to assess smolt health and migration patterns[10]

Core Viewpoint - NOVAGOLD Resources Inc. reported its fiscal year-end results for 2024, highlighting the progress of its Donlin Gold project, a significant gold development initiative in Alaska, co-owned with Barrick Gold Corporation [1][5]. Financial Performance - As of November 30, 2024, NOVAGOLD held approximately $101 million in cash and term deposits, with net annual cash expenditures of $24.5 million, including $12.4 million for the Donlin Gold project and $17.7 million for corporate costs, which was below the expenditure guidance of $31.2 million [3][19]. - The company reported a net loss of $45.6 million for the fiscal year, translating to an earnings per share of ($0.14) [3]. Project Milestones and Activities - In 2024, significant milestones for the Donlin Gold project included the completion of metallurgical test work, submission of preliminary design packages for Dam Safety Certification, and community engagement initiatives [6][10]. - A budget of $43 million for 2025 was approved, focusing on camp operations, updated mine planning, geotechnical engineering, and community relations [6][16]. Community Engagement and Environmental Initiatives - Donlin Gold intensified efforts in ecological stewardship, including a salmon smolt monitoring program and restoration of historic mining sites [8][9]. - The project maintained strong community relations through public open houses and partnerships with local organizations, establishing a total of 18 Shared Values Statements [9][10]. Resource and Production Potential - The Donlin Gold project is recognized for its substantial resources, with over 39 million ounces of gold in Measured and Indicated Resources at an average grade of 2.24 grams per tonne, which is twice the industry average [14][29]. - The project is projected to produce over one million ounces of gold annually over a 27-year mine life, with anticipated operating cash costs of $635 per ounce, placing it in the lower half of the industry cost curve [30][31]. Legal and Regulatory Developments - Donlin Gold received an 18-month extension on its air quality permit and has ongoing litigation related to its water quality certification and other permits, with decisions expected in 2025 [11][12][13]. - The project continues to receive support from U.S. Senators and local representatives, emphasizing its importance for economic development in Alaska [10].

Core Viewpoint - NOVAGOLD Resources Inc. is set to release its 2024 year-end report on January 23, 2025, before market opening, followed by a conference call and video webcast to discuss the results [1] Group 1: Financial Results and Updates - The conference call will feature NOVAGOLD's President and CEO, Greg Lang, and CFO, Peter Adamek, who will summarize the company's year-end financial results and provide an update on the Donlin Gold project [2] - Questions can be submitted prior to the call, and there will be an opportunity for live questions during the webcast [2] Group 2: Webcast and Call Details - The video webcast can be accessed at www.novagold.com/investors/events, with specific call-in numbers provided for North American and international callers [3] - The webcast will be archived on NOVAGOLD's website for one year, and a transcript of the call will be available for download [3] Group 3: Company Contacts - Key contacts for NOVAGOLD include Mélanie Hennessey, Vice President of Corporate Communications, and Frank Gagnon, Manager of Investor Relations, with provided contact numbers for inquiries [4]

Financial Data and Key Metrics Changes - The company reported a net loss of $10.7 million in Q3 2024, a decrease of $0.4 million from the same quarter last year, primarily due to lower stock-based compensation and reduced Donlin Gold Project costs [14][15] - Cash and term deposits decreased by $7 million in Q3 2024, with cash and cash equivalents totaling $45.6 million and term deposits at $60 million [15][16] - The company expects to spend approximately $31 million for the full year, including about $17 million for corporate G&A and $14 million for Donlin Gold [15][16] Business Line Data and Key Metrics Changes - The Donlin Gold Project is highlighted as a Tier 1 asset with 39 million ounces of gold at an average grade of 2.25 grams per tonne, which is more than double the industry average [3][5] - Significant exploration opportunities exist beyond the defined resources, covering only 3 kilometers of an approximate 8-kilometer gold-bearing trend [8] Market Data and Key Metrics Changes - The global gold production is declining, leading to a shortage of high-quality development stage projects, which increases demand for projects like Donlin Gold characterized by scale, grade, and longevity [5][6] - Alaska is ranked third out of 120 global jurisdictions for mining, with a strong regulatory framework that enhances investor confidence [6][8] Company Strategy and Development Direction - The company views the Donlin Gold Project as a prime investment opportunity in the gold market, focusing on advancing the project to an updated feasibility study [17][18] - The company is committed to executing its strategy with high standards of safety and social responsibility while enhancing shareholder and stakeholder value [18] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of the Dam Safety certification as the last major permit needed for the project, with an anticipated approval timeline of 1 to 1.5 years [20] - The current high gold prices are expected to influence the updated feasibility study and future project plans [21] Other Important Information - The company has made substantial advancements in metallurgical testing and is updating groundwater and surface water models [9][10] - Ongoing collaborations with local communities and partners are essential for project development and maintaining a social license to operate [11][12] Q&A Session Summary Question: Is the Dam Safety certification the only major permit left? - Yes, the tailings dam and related water retention structures are the last remaining major permits needed, with approval expected in 1 to 1.5 years [20] Question: Will current gold prices be reflected in the updated feasibility study? - Yes, the high gold prices are intriguing and will be considered in the 2025 work plan [21] Question: What is the current cash burn rate and CapEx guidance for 2025? - The burn rate is expected to increase next year, with sufficient cash on hand to advance the Donlin project [23]

Core Viewpoint - NOVAGOLD Resources Inc. is focused on advancing the Donlin Gold project, aiming for a fully updated feasibility study while maintaining strong community and government engagement to uphold its social license [1][6][11]. Financial Overview - As of August 31, 2024, NOVAGOLD reported a strong treasury of approximately $105.6 million in cash and term deposits [4][9]. - The company experienced a net loss of $10.7 million for the third quarter of 2024, a slight decrease from a loss of $11.1 million in the same period the previous year [28][29]. Project Development Milestones - Key activities in the third quarter included metallurgical test work at a pilot plant, submission of preliminary design packages for Dam Safety Certification, and updated resource modeling [3][7]. - A workshop was held in Alaska to review progress and discuss next steps for the Donlin Gold project [3][8]. Community Engagement and Social Responsibility - NOVAGOLD, in collaboration with Calista Corporation and The Kuskokwim Corporation, has made significant strides in community engagement, including hosting tours and public open houses [4][13]. - The company supports various local initiatives, including educational programs and environmental stewardship efforts, reinforcing its commitment to social responsibility [14][17]. Legal and Permitting Status - The company is actively defending its permits against legal challenges, with ongoing litigation related to water rights and environmental certifications [20][21][22]. - The permitting process is complex but is supported by a strong commitment to transparency and stakeholder engagement [19][24]. Future Outlook - For fiscal year 2024, anticipated cash expenditures are approximately $31.2 million, with $14.25 million allocated for the Donlin Gold project [32][33]. - The company aims to continue advancing the project towards a construction decision while maintaining a healthy balance sheet and stakeholder support [33][34].