Determined to Advance Donlin Gold to an Updated Feasibility Decision

Unlocking Value Through Ongoing Technical Work, Comprehensive Engagement and Proactive Social Outreach Efforts

Robust Treasury of $113 Million in Cash and Term Deposits

VANCOUVER, British Columbia, June 26, 2024 (GLOBE NEWSWIRE) — NOVAGOLD RESOURCES INC. (“NOVAGOLD” or “the Company”) (NYSE American, TSX: NG) today released its 2024 second quarter financial results and an update on its Tier One 1 gold development project, Donlin Gold, which NOVAGOLD owns equally with Barrick Gold Corporation (“Barrick”). Details of the financial results for the quarter ended May 31, 2024, are presented in the consolidated financial statements and quarterly report filed on Form 10-Q on June 26, 2024, that is available on the Company’s website at www.novagold.com, on SEDAR+ at www.sedarplus.ca, and on EDGAR at www.sec.gov. All amounts are in U.S. dollars unless otherwise stated. In the second quarter of 2024, the following milestones were achieved:
Donlin Gold activities included:
Advancement of metallurgical test work (pilot plant) to confirm proposed optimizations to the flowsheet;
The preliminary design packages for the Dam Safety Certification were submitted on June 17, 2024;
Progression of regional infrastructure support planning to narrow the scope of work and advance regional energy partnership opportunities;
Incorporation of recent Donlin Gold field data in geosciences and hydrology to update the groundwater model and surface water model, and continuation of data collection to update geochemical characteristics for closure planning; and
Ongoing resource modelling by a third-party consultant.
In collaboration with Calista Corporation (“Calista”) and The Kuskokwim Corporation (TKC), Donlin Gold achieved significant milestones in education, health and safety, cultural preservation, and environmental initiatives:

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https://novagold.com/novagold-reports-second-quarter-2024-financial-res-9088/