NOVAGOLD Announces Appointment of Project Director to Lead Advancement of the Donlin Gold Project

Core Viewpoint - NOVAGOLD Resources Inc. has appointed Frank Arcese as Project Director for Donlin Gold LLC, enhancing the team's capabilities as they prepare to initiate the Bankable Feasibility Study (BFS) and advance the project towards development [1][4]. Company Overview - NOVAGOLD is a well-financed precious metals company focused on the development of the Donlin Gold project, which is owned 60% by NOVAGOLD and 40% by Paulson Advisers LLC, located in Alaska, a highly regarded mining jurisdiction [5][6]. - The Donlin Gold project is recognized as one of the largest and highest-grade open-pit gold deposits globally, with approximately 39 million ounces of gold in the Measured and Indicated Mineral Resource categories, and an expected production of over one million ounces per year over a 27-year mine life [5][11]. Appointment of Frank Arcese - Frank Arcese brings over 40 years of global project leadership experience, having previously served as Capital Projects Business Leader for North American mining operations at WSP Global Inc. and as Project Director for various large mining and power plant projects for Rio Tinto [2][3]. - His expertise includes feasibility planning, project execution strategy, risk management, and building high-performance teams, which will be crucial for the successful advancement of the Donlin Gold project [3][4]. Project Development Focus - In his new role, Arcese will oversee project planning, execution strategy, organizational readiness, and alignment with NOVAGOLD's long-term objectives for Donlin Gold [4]. - The company aims to ensure technical rigor, collaboration, and disciplined planning as they move towards a construction decision for the project [4]. Resource and Reserve Estimates - Donlin Gold possesses Measured Resources of approximately 8 million tonnes grading 2.52 grams per tonne and Indicated Resources of approximately 534 million tonnes grading 2.24 grams per tonne, with significant portions attributable to NOVAGOLD [11]. - Proven Reserves are approximately 8 million tonnes grading 2.32 grams per tonne, and Probable Reserves are approximately 497 million tonnes grading 2.08 grams per tonne, each on a 100% basis [11]. Market Position - According to the Fraser Institute's 2024 Annual Survey of Mining Companies, Alaska ranks 3rd globally on the Investment Attractiveness index, highlighting the favorable conditions for mining investments in the region [10].