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Donlin Gold’s 27-year mine life
One of only six mines in the world slated to produce >1M ounces a year.
* Donlin Gold data as per the second updated feasibility study effective November 18, 2011, as amended January 20, 2012. Represents 100% of production of which NOVAGOLD’s share is 50%. Projected annual gold production during full life of mine. † Peer group data based on company documents, public filings, and websites. Comparison group of 15 projects based on large (2Moz P&P cut-off ), North/South American gold-focused development projects.
North and South American gold-focused development projects
compensation for relinquishment of their aboriginal title claims,
Calista selected the Donlin Gold mineral rights because of their known gold potential. TKC has also contributed valuable input to ensure
that our development plan brings tangible, long-lasting bene ts and responsible development to the region. ANCSA’s vision was for Alaska’s Native Corporations to realize the opportunity for self-determination through economic development of the lands selected for their natural resources potential – a vision Donlin Gold certainly embodies as
one of the largest economic opportunities in the Yukon-Kuskokwim (Y-K) region. Together, with mutual support and involvement, we are building a foundation that will provide members of Calista and TKC, and their descendants, with the opportunity to thrive socially and economically, as well as support and maintain their subsistence way of life. As Donlin Gold continues to advance in its development, we will rise together.
Galore Creek is often only mentioned in passing, given our focus on advancing Donlin Gold, yet there is no denying that it e ectively enjoys all of the key attributes that one  nds in Donlin Gold: the size, scale, and quality; the jurisdictional appeal of being located in British Columbia; and the excellent partnerships required to successfully advance such an important project. Our belief that it will constitute one of the largest and lowest-cost copper mines in Canada reinforces our view that it will represent a very valuable asset to a potential developer. While we continue to evaluate opportunities to monetize our interest in the project – with our partner, Teck Resources – we are fortunate to have the  exibility to be patient sellers. The recent move in the price of copper is generating greater interest in the asset. When the time is right, we feel that Galore Creek will generate meaningful value for our shareholders.
We strongly believe that extensive engagement with all of our stakeholders is critical in ensuring our success. In that spirit, we went a step further in 2017 as members of our board of directors met with top institutional shareholders after the proxy season in order to gain greater insight into best practices in compensation and governance, as well as to initiate two-way communication to guide change as the company evolves.
With two exceptional assets located in top jurisdictions, I am more motivated and optimistic than ever that the year ahead will be pivotal for our company. We have a seasoned leadership team with us, and there is truly no aspect of the value chain that this group has not navigated successfully throughout their respective careers. For their outstanding contributions to NOVAGOLD’s progress over the last year, my thanks go to my colleagues and our partners at Barrick and Teck, as well as the Native Corporations, local stakeholders, and government agencies with whom we have collaborated extensively. I also would like to thank our dedicated board of directors for providing us with much valued expertise and guidance every step of the way. Finally,
I am sincerely grateful to our shareholders for their unwavering support and faith in the future of this great company.
Gregory A. Lang
president and CEO February 12, 2018

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