Novagold Resources Inc.

Thank you for standing by. This is the conference operator. Welcome to the NOVA Code First Quarter 2025 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, then 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, then zero. I would now like to turn the conference over to Melanie Hennessey, Vice President, Corporate Communications. Please go ahead.

Good morning, everyone. We are pleased that you have joined us for Novogold's 2025 first quarter webcast and conference call and for an update on the Donlon Gold project. On today's call, we have Novogold's president and CEO, Greg Wang, and Peter Adamak, 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 risk, detailed in our various EDGAR and CDAR 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. Nova Gold is solely focused on the Donlin asset up in Alaska. Some of the key attributes that the Donlin project has, you know, it's large, almost 40 million ounces of gold and a grade of two and a quarter grams. It'll be a large mine. It's production will average over a million ounces a year over a mine life measured in decades. The project is big now, but there is significant exploration potential along strike and at depth. We're up in Alaska, a world-leading mining jurisdiction with a well-established industry and in a state that supports responsible mining. Our project is owned by two Alaska native corporations, Chalista and TKC. Our partnership with them has endured for many years. The federal permits are in hand and we're wrapping up the state permits. We remain committed to environmental stewardship and responsible governance and development. We've got an experienced management team that has the expertise to continue to advance the Donovan project. and we enjoy strong shareholder support from our institutional investors. Looking at slide six, Donilon will average over a million ounces a year of production throughout its life. This is twice the industry average and the largest producer in the development pipeline throughout the industry. As global production declines, the demand for high quality assets like Donilon will continue to increase. At two and a quarter grams, the mine grade at Donilon is better than twice the industry average. Its high grade and longevity well position it to thrive through any gold cycle imaginable. The current slide depicts the exploration potential at Donlon. The 40 million ounce resource is contained in the ACMA and Lewis mining pits. That area represents only three kilometers of an eight kilometer system. and we've got gold-bearing drill holes all up and down trend. When the time is right, we will resume exploration, and there is the potential to substantially increase the endowment at Donlon. Alaska is the second largest gold-producing state in the United States. It has almost $5 billion in annual revenue from non-fuel mineral production. The industry in Alaska generates over a billion dollars a year in goods and services. This results in 12,000 high paying jobs for the local economy. A recent executive order aims to strengthen Alaska's position and encourage resource development. This initiative will drive new opportunities for gold mining, job creation, and economic expansion, which will enhance investor confidence aligning well with Donland Gold's potential. Turning to slide 10. The land at Donlon is owned by two Alaska Native corporations. Chalista owns the mineral rights and TKC owns the surface rights. They share their elders' vision for responsible mineral development. Their expertise and stewardship, grounded in a deep understanding of the significance of the land to their people, are crucial to responsible economic development and long-term benefits for the YK region where their communities are located. Permitting in the United States is a long-term rigorous process and we have substantially completed it. Our federal permits are in hand and our state permits are well advanced. The only remaining state permit of any consequence is for the tailings dam. And this work is well underway. We have secured these permits and we are actively supporting the agencies in maintaining and defending these permits. This process has required extensive community engagement throughout. NOVA Gold has made significant strides in environmental stewardship and good governance. We will be shortly publishing our new sustainability report. Safety has been a top priority at Donlin, and the project has achieved a record of no lost time accidents in well over a decade. We're very proud of our accomplishments in this area. Nova Gold has a very experienced management team. All of us come from major mining corporations and have the expertise to take Donlin forward. We also enjoy strong institutional shareholders support. Over 70% of our shares are held with our top 10 shareholders. They share our vision for responsible long-term development, and we are extremely grateful for their support and their focus on helping us maintain and maximize the project's value. These are unprecedented times when it comes to gold price. It's hitting new records every week. Donlon Gold brings exceptional leverage in a jurisdiction where you can keep it. At an undiscounted rate, the current spot price yields over $40 billion. This underscores the very significant economic potential at Donlon. Turning to the first quarter highlights, the Camp Adonan was opened earlier this year and drilling commenced in March. We have a program of 15,000 meters planned for the year, initially focused on grid drilling to enhance our understanding of the parameters that will support mine planning that will ultimately feed into an updated feasibility study. Nova Gold and Donlin staff have traveled to Juneau to meet with members of Alaska's congressional delegation to share information about Donlin and reinforce the project's importance to Alaska and the YK region. We also presented in Juneau to the Alaska House of Representatives Energy Committee to describe the project's energy needs and to discuss Alaska's environmental standards. In collaboration with our native villages, we provided financial assistance to maintain the ice road on the Kuskokwim River, allowing the people in that region safe access between the villages. to support local community events, such as the Don and Gold Basketball Tournament and the Kuskokwim 300 Sled Dog Race, where we sponsor three mushers from the YK region. We anticipate that we will receive comments from the agencies on the preliminary dam certification package that was recently submitted. The state water permits have been extended. In the litigation related to our permits, we continue to support Donlan in the state permits, and all of these cases have been fully briefed. In federal litigation, the court ordered supplemental briefing on the remedy that was completed in March, and oral arguments will take place on April 14th. With a thorough understanding of the regulatory and legal landscape, Donovan Gold and its partners are committed to supporting and defending the permits that have been granted by the agencies. With that, I will now turn the call over to Peter Adamek, our Chief Financial Officer.