Committed to Advancing Donlin Gold to Full Feasibility Study
Extensive Engagement Reinforcing and Deepening Donlin Gold’s Social License
Strong Treasury of $118 Million in Cash and Term Deposits
in the First Quarter of 2024
April 3, 2024 – Vancouver, British Columbia – NOVAGOLD RESOURCES INC. (“NOVAGOLD” or “the
Company” (NYSE American, TSX: NG) today released its 2024 first quarter financial results and 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 29, 2024, are presented in the consolidated
financial statements and quarterly report filed on Form 10-Q on April 3, 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 first quarter of 2024, the following milestones were achieved:
? The ongoing activities at Donlin Gold included:
? Completion of the scope of work for resource modelling by a third-party consultant for an
updated resource model;
? Advancement of metallurgical test work with a pilot plant in Ontario, Canada, to confirm
proposed optimizations to the flowsheet;
? Continued planning for regional infrastructure support to narrow the scope of work and
identify the best path forward;
? Incorporation of recent field data in geoscience hydrology to update the groundwater
model and surface water model;
? In partnership with Calista Corporation (“Calista”) and The Kuskokwim Corporation (TKC), Donlin
Gold reached significant milestones in education, health and safety, cultural preservation, and
environmental initiatives:
? Finalization of another Shared Values Statement in the Yukon-Kuskokwim (Y-K) region near
the project, bringing the total count to 16;
? Holding the first informational meeting for the Subsistence Communications Advisory
Committee in Anchorage;
? Expanding our efforts to identify specific project opportunities aimed at monitoring,
evaluating, and enhancing the health of salmon populations in the Y-K region;
1 NOVAGOLD defines a Tier One gold development project as one with a projected production life of at least 10 years, annual
projected production of at least 500,000 ounces of gold, and average projected cash costs over the production life that are in the
lower half of the industry cost curve.

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