Novagold Resources Inc.

Thank you for standing by. This is the conference operator. Welcome to the NOAA Gold 2023 Year-End 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. 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, Aisha. Good morning, everyone. We are pleased that you have joined us for NOVAgold's 2023 year-end financial results and for an update on the Donald Gold Project. On today's call, we have Novogold's Chairman, Dr. Thomas Caplan, Greg Lang, Novogold's President and CEO, and David Autiwell, Novogold's Vice President and CFO. At the end of the webcast, we will take questions by phone. Additionally, we will respond to questions received by email. I would like to remind you, 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 CEDAR filings, and forward-looking disclaimers included in this presentation. I will now turn the presentation over to our President and CEO, Greg Lang. Greg?

Thank you, Melanie, and good morning, everyone. Ahead of providing a summary of our 2023 year-end results, I'd like to start today's call with a brief overview on slide five, which explains why we and our shareholders consider Donlon Gold a tier one asset. Hosting approximately 39 million ounces of gold at an impressive grade of more than twice the industry average at two and a quarter grams and a projected mine life of almost 30 years, Donlon Gold holds the potential to be a significant and cost-effective producer. Furthermore, outstanding exploration potential exists beyond the known resource areas throughout Donlon's extensive land holdings. The project is also located on private land designated for mining in Alaska. world-leading jurisdiction known for responsible mining practices. Our enduring partnerships and life and mind agreements with Chalista and the TKC Corporation further positioned Donlin favorably on its path toward development. It is important to put into context the company's accomplishments since the reorganization in 2012. especially for those who are new investors and less familiar with us. As shown on slide six, we have been focused on executing this strategy that was set in motion by our chairman and me over a decade ago, namely to unlock the value of Novogold's high-quality assets for our shareholders and advance Donlin as a pure gold play offering a unique endowment and maximum leverage. Looking at slide seven, Alaska offers an excellent environment for mining and is one of the world's safest jurisdictions. It ranks as the second largest gold producer in the US with a well-defined permitting process. Numerous companies have achieved success here and the government is very supportive recognizes the importance of responsible natural resource development. NOVAGOLD's performance in the areas of environmental stewardship, health and safety, social and community engagement, and corporate governance are featured on slide eight. The health and safety of our people is our highest priority with over 10 years zero lost time accidents at the project site. The workforce is comprised mostly of local hires. Throughout 2023, we will continue to monitor, reflect on, and refine our environmental, social, and governance performance, including maintaining strong records of environmental health and safety at Donilon and expanding our investments and partnerships with the people of the YK region. To touch on Donland's attributes, as currently envisioned with approximately 39 million ounces, it hosts one of the largest and highest grade undeveloped gold endowments in the world, one that would average over a million ounces a year for 27 years. When looking at the group of gold development projects in the Americas on slide nine, Donland Gold is by far the largest with global gold production continuing to decrease it is clear the industry needs projects of scale, grade, and longevity to ride out multiple price cycles. With a grade of more than twice the industry average for an open pit project at two and a quarter grams as shown on slide 10, this in turn enables Donlin Gold to potentially become one of the lowest cost producers in the gold space. Excellent exploration potential exists beyond the defined resources located in the ECMA and Lewis deposits on the diagram in the upper right-hand corner, which occupies only three kilometers of an eight-kilometer mineralized belt. As highlighted on slide 11, incredible potential remains to increase ounces and extend the mine life. As private landowners, both Chalista and TKC are dedicated to developing Donlon Gold in a way consistent with the elders' vision of responsible mining development while creating jobs and economic benefits for the surrounding communities, as well as protecting the culture. A few quotes are provided from the leaders of both Alaska Native corporations. TKC and Chalista's knowledge and guidance has been critical over the years through permitting, sustainability, and community engagement initiatives. We immensely appreciate their meaningful input regarding their land and the significant economic needs required to sustain healthy living for their communities. Our partners continued time-tested collaboration on the project with the and their full engagement was extremely valuable, ensuring sustainable economic development throughout all phases of the project. With these combination of attributes, the Island Gold has the potential to form a cornerstone of economic sustainable development for the YK region for many decades to come. I will now touch on the highlights accomplished by Donlin Gold last year, as well as some of the ongoing activities. Turning to slide 14, the 2023 field program at Donlin was safely completed on schedule in July, with almost two-thirds of the direct hires coming from the YK region. The program included the completion of comprehensive field work and geotechnical drilling, required for the Alaska Dam Safety Certificates. This involved data collection at numerous locations earmarked for water retention structures and the tailings storage facility. Field work included drilling, water retention structures, seismic surveys, and test plot liner installation. Additional field work included refining groundwater at the site hydrogeologic drilling that provided essential information for mine planning and design. At the historic Placer site, restoration work encompassed significant stream and pond habitat creation. Continued restoration work will include anticipated aquatic life access planned for the 2024 field season. Furthermore, with the support from both owners and third-party consultants, Donlon Gold continued to advance the geologic and resource models, advanced trade-off studies, and conducted extensive analysis on key project assumptions and design components for validation, which will play a critical role in subsequent steps to advance the project further up the value chain. Through ongoing collaboration with Chalista, TKC, and local communities, Nova Gold upholds a steadfast commitment to education, community wellness, cultural preservation, and environmental stewardship. These principles are actively reinforced, not only at the Don and Gold project site, but also in the YK communities, as highlighted on slide 15. In 2023, Donland Gold demonstrated this commitment by appointing additional community liaison representatives from four villages in the YK region, expanding the total to eight. Donland Gold also established three additional shared valued statements, totaling 16, formalizing ongoing engagement and reinforcing long-term relationships with the communities in the region. Donlon also supported various search and rescue teams and provided funding to the Bethel Community Services Foundation and Special Olympics Alaska, just to name a few. We also concluded another successful In It for the Long Haul backhaul program for the sixth year in a row. This vital project is dedicated to the collection, removal, and safe disposal household hazardous and electronic waste from the villages throughout the region, preventing an adverse impact on landfills and waterways. This year's program achieved significant milestones, including the removal of waste from fish camps in the river, and Donlon Gold employees from three villages played a key part in initializing the backhaul from the Yukon River. Furthermore, Donlin is collaborating with its Alaska Native partners on environmental initiatives, which include the monitoring and assessment of the conditions and management of salmon fisheries in the Kuskokwim and Yukon River watersheds. In the fourth quarter of 2023, specific projects opportunities for salmon population health were identified. Additionally, Donlin Gold supported the construction and maintenance 300 miles of ice roads, fostering community engagement and providing essential access for emergency services. Donlan continues to support educational programs with a focus on enhancing opportunities through the Alaska Resource Education and the Alaska School Activities Association and providing scholarships at the University of Alaska. Donlon Gold is a federally permitted project on private land designated by law for mining activities as part of the 1971 Alaska Native Claims Settlement Act. This is a differentiating factor for most other mining assets in Alaska. Permitting in the United States and Alaska represents a significant and rigorous endeavor where success hinges on years of dedicated efforts to ensure a diligent, transparent, and inclusive process for all stakeholders. Slide 16 lists all the federal and state permits and certificates received to date. We have received our federal permits from the Army Corps of Engineers and the Bureau of Land Management in 2018, followed by numerous state permits on this slide in subsequent years. Donlon Gold, its owners and partners possess an intimate understanding of the project's permitting and regulatory procedures and remain committed to supporting the federal and state agencies in defending such a rigorous permitting process. On slide 17, we present updates regarding state and federal permitting and litigation activities. None of these actions are a surprise, and we were prepared and have prevailed in the courts. The 2023 field program was focused on geotechnical and hydrologic drilling to gather supplementary data for the dam safety certificates. The field work concluded in July and the team is on track to submit the preliminary design packages to the state in the first half of 2024. On September 1st, 2023, the Alaska Superior Court reaffirmed the Department of Natural Resources decision on Don and Gold water rights following an unsuccessful appeal. On October 2nd, 2023, Earthjustice appealed the Superior Court decision to the Alaska Supreme Court and filed their opening brief in January. In the federal litigation challenging Donlan Gold's joint record of decision in permits, including the 404 permit, the U.S. Department of Justice is finalizing compilation of the administrative record for the court. The briefing schedule was agreed in the fourth quarter and will extend through the first half of 2024. Despite these numerous challenges, all appeals against the Donlan Gold projects have been unsuccessful to date thereby reinforcing our confidence in the thoroughness of the permitting process, acknowledging the importance of readiness and preparation, along with the unwavering support from Donlon Gold and its owners. We remain committed to backing all agencies in defending the permits. With that, I will now turn the call over to our CFO, David Otterwell, to review the 2023 year-end financial results. Dave?