Novagold Resources Inc.

Welcome to the NOVA Gold first quarter 2022 financial results conference call and webcast. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions via webcast only. Webcast viewers may submit questions through the text box in the lower right corner of the webcast frame. Should you need assistance during the conference call, you may signal an operator by pressing star and zero. I would now like to turn the conference over to Melanie Hennessy, Vice President, Corporate Communications. Please go ahead.

Thank you, Cherise. Good morning, everyone. We are pleased that you have joined us for Novogold's 2022 first quarter financial results and also for an update on the Don and Gold project. On today's call, we have Dr. Thomas Kaplan, Novogold's Chairman, Greg Lang, Novogold's President and CEO, and David Ottowell, Novigold's Vice President and CFO. At the end of the webcast, we will take questions via the prompt, as Charisse mentioned earlier. Additionally, we will respond to questions received by email. I would like to remind our webcast and call participants that as stated on slide three, Any statements made today may contain forward-looking information, such as projections and goals, which are likely to involve risk detail in our various EDGAR and CDAR filings and forward-looking disclaimers that are included in this presentation. I now have the pleasure of turning the presentation over to our President and CEO, Greg Lang. Greg?

Thank you, Melanie. At the end of the first quarter, We reported the final assay results in a joint release with Donlin and Barak. The 2021 drill program was completed in late September with 79 holes totaling approximately 24,000 meters. As shown on slide five, both Barak and Novogold agreed that the 2021 drill campaign finished strongly. with high grade intercepts and some of the best drill results for an open pit project industry-wide. Examples shown on this slide include 7.8 grams over 92 meters for a grade thickness of over 700. The primary objective of the 2021 drill program was achieved by validating recent geologic modeling concepts to support future feasibility work, data collection for geotechnical and geometallurgical purposes, testing for extensions of high-grade zones, and to identify 2022 drill targets. As a result of the success in the 2021 drill program, the program was expanded into 2022. Once the 2021 drill data has been incorporated into an updated resource model, the owners will determine updated mining schedules and life of mine business plans prior to shifting to an updated feasibility study, which is of course subject to formal approval by the Donilon Gold LLC board. On slide six, We have included a quote from Barrick's recently published 2021 Annual Report on Donland Gold. As a 50-50 joint ventureship, we have great alignment on our efforts to advance the Donland Gold project. We opened the camp in January to prepare the site for the largest drill program in over 10 years. With three rigs operating and approximately 70 people at the property, these winter conditions were key to access areas that would otherwise be challenging in milder weather. On slide seven, You can see a longitudinal section of the ACMA and Lewis deposits at Donlin. In 2022, we will undertake approximately 34,000 meters of technical and exploration drilling, both in-pit and at depth, as shown in the areas circled on the slide.