Novagold Resources Inc.

Thank you for standing by. This is the conference operator. Welcome to the NOVA Gold Third 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. To join the question queue, you may press star then one on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star and zero. Webcast viewers may submit questions through the text box in the lower right corner of the webcast frame. I would now like to turn the conference over to Melanie Hennessey, Vice President, Corporate Communications. Please go ahead.

Thank you, Gary. Good morning, everyone. We are pleased that you have joined us for NOVA Gold's 2022 third quarter financial results and also for an update on the Darwin Gold Project. On today's call, we have Greg Lang, Novogold's President and CEO, and David Ottowell, Novogold's Vice President and CFO. At the end of the webcast, we will take questions on the phone and respond to questions received during the webcast and also via email. I would like to remind 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 risks detailed in our various EDGAR and CDAR filings, and forward-looking disclaimers included in this presentation. I now have the pleasure of turning the presentation over to our President and CEO, Greg Klein. Greg?

Thank you, Melanie. We continue to be encouraged by the outstanding drill results in the ACMA and Lewis deposits. that have returned significant high-grade intercepts and demonstrated good grade continuity. These results further support the global resource estimate, recent modeling concepts, and strategic mine planning work. We have included some examples of high-grade intercepts on slide four, which include hole 2020 with over 52 meters grading almost 15 grams per ton. Another segment in that same hole intersected over 18 meters at almost 11 grams per ton, and drill hole 2056 with 74 meters at over 4 grams per ton. For a more extensive description of recent drill results, please refer to the joint release from Novigold, Barrick, and Donlan Gold dated July 28, 2022. Additionally, the Donlon Gold Board approved an increase from 34,000 meters to 42,000 meters in the third quarter. The drilling at site recently wrapped up with a total of 141 holes. To date, the Donlon Gold Project reported assay results for approximately 9,870 meters with additional assays expected to be released in the coming weeks, and the final results will be available in early 2023. Donlon Gold's 2022 expenditures are estimated to be about $64 million, of which Novel Gold's share is 50%. As shown on slide five, The drill program included tight spaced grid drilling in structural domains in pit and below pit exploration in sparsely drilled areas. Platform mapping to confirm mineralization continuity and key geologic controls in several areas of the deposit. Waste rock facility condemnation drilling. and 13 geotechnical drill holes for the Alaska dam safety certificates. The expenditures also support the advancement of project planning and field work, as well as numerous environmental community and external affairs initiatives. After decades of engagement, We continue with our proactive bipartisan outreach in Alaska and Washington, D.C., with our partner, Chalista, to highlight the thoroughness of the project's environmental review and the permitting processes, as shown on slide six. Alaska's U.S. Senators Lisa Murkowski and Senator Dan Sullivan have consistently expressed their long-term support for the Donlon Gold Project. Donlon Gold provides support to the state of Alaska as various agencies advance permits and certifications required for the project. Permitting in Alaska has represented a substantial undertaking over many years, and in fact, a tremendous achievement to ensure a diligent, thorough, transparent, an all-inclusive process for everyone involved. The inherent value of having a federally permitted project on private land designated by law for mining should not be overlooked. Slide seven lists all the federal and state permits and certificates received to date. As with all mining projects in the developed world, we have always prepared and organized ourselves for challenges. Our management team is intimately familiar with these processes that need to be followed. Donal & Gold and its owners, alongside the steadfast advocacy of CHLISTA and TKC, continue to support the state in its defense of what constitutes an exceptionally thorough and diligent permitting process. Ongoing Donland Gold permit activities are included in slide eight. We continue to support the Department of Environmental Quality in its efforts on the state's Clean Water Act 401 certification. On July 14th, the commissioner granted the request for an auditory hearing related to potential water temperature effects in Crooked Creek. The briefing is underway and should be completed in the next six months. The right-of-way lease for portions of the natural gas pipeline on state land was separately appealed in Alaska Superior Court by two parties. Legal briefings are being prepared by the parties, and we anticipate a decision in 2023. The state of Alaska's issuance of water rights for the mine and transportation facilities was also appealed. The administrative record was filed on September 12, 2022, with both parties preferring their initial briefs. A decision is expected next year. It should be noted that all of the appeals challenging Donlon Gold permits to date have been unsuccessful, often multiple times, and we have confidence in the process. Nonetheless, objecting to mining is part of the business in itself. With respect to the reissuance or granting of new permits, we are working on the following. A new air quality permit which is expected to be in place in mid 2023. This is required in order to ascertain that the emission controls reflect best available technology and that air quality standards will be met. An updated Alaska Pollutant Discharge Elimination System application for a regularly scheduled renewal is coming up and we anticipate a decision by mid 2023. Relocating easements and public right-of-ways in the project area, the agency issued the proposed relocation plan for public comment in the summer of 2022, and a final decision is expected by year-end. Lastly, the fieldwork related to the issuance of the Alaska Dam Safety Certificates resumed during the third quarter. Nova Gold and Donlon Gold continue to work with Jalista and TKC in all aspects of outreach and engagement throughout the YK region. We're involved in the areas of education, health and safety, cultural traditions, and environmental initiatives, including creating a substance committee comprised of independent regional stakeholders, reflecting diverse views on development initiatives, among other activities. The success of our drill program and project activities in the third quarter and for the first nine months of the year is due to the exceptional dedication of the Donlon Gold team in Alaska, at the site, and in the Anchorage office. The majority of our employees were local hires from 24 different communities in the YK region, as shown on slide 10. They all share the goal of protecting the health and safety of their colleagues. Don and Gold has not had a lost time incident in over a decade with millions of man hours worked safely. that goal both at nova gold and donlon gold is indeed our top priority as shown on slide 11 sustained efforts were also underway in the third quarter to promote youth education and healthy activities in the yk region through programs such as alaska excel which provides life-changing educational and professional opportunities for rural Alaskan students and young adults. Other important initiatives included sponsoring the Alaska Native Heritage Center, which encourages cultural awareness across Alaska and our partnership with the Bethel Community Services Foundation, which is dedicated to development, growth, the continuance and enhancement of community-based programs and services. Two additional shared value statements were signed in the third quarter with villages in the YK region for a total now of 11. These agreements formalize current engagement with local communities, expand upon the long-term relationships already established with them, and address their specific community needs. Donland Gold and Nova Gold contributed to and partnered in the fifth In It for the Long Haul Back Haul project over the summer months to collect, remove, and safely dispose of household hazards and electronic wastes from 30 remote villages throughout the region. Several photos of this project are shown on slide 11. Over the past five years, nearly 400,000 pounds of waste was removed that otherwise would have ended up in landfills and waterways. David Otterwell, Novigold's Vice President and Chief Financial Officer, We'll now give an update on our third quarter financials. Dave?