Novagold Resources Inc.

Thank you for standing by. This is the conference operator. Welcome to... Vice President, Corporate Communications. Please go ahead.

Good morning, everyone. We are pleased that you've joined us for Novogold's 2026 Third Quarter Webcast and Conference Call and for an update on the Donald Gold Project. On today's call, we have Novogold's Chairman, Dr. Thomas Kaplan, President and CEO, Greg Lang, 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. Please note that while we provide commentary on our pending transaction to acquire 100% of Donlon Gold during the prepared remarks portions of today's call, we will not be addressing any questions or providing further comments regarding the transaction during the Q&A portion of the call. For additional information regarding the transaction, we direct you to the management information circular and proxy statements and other documents filed by Novigold with the SEC under the SEC's website and under Novigold's profile on CDAR at cdarplus.ca or from Novigold's website at novigold.com. 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 included in this presentation. With that, I will now turn the presentation over to NOVA Gold's President and CEO, Greg Lang. Greg? Thank you, Melanie.

I will start my remarks by highlighting several key activities that took place during the quarter. Starting with positioning the company as the premier U.S. gold developer through a series of definitive agreements entered into on July 21st. Under this proposed transaction, as depicted on slide five, a new U.S. domiciled parent company, New Nova Gold, will be established and listed on the New York Stock Exchange. This will be done with a one-to-one share exchange. Dr. Thomas Caplan, our current chair, and John Paulson will become co-chairs of New Nova Gold. Inclusive of the existing ownership in Nova Gold, Paulson will own approximately 40% of New Nova Gold, and its voting interest will be capped at 19.99%. Once closed, NuNova Gold will become the ultimate parent company, acquiring Paulson's 40% interest in an all-share transaction, and will then own 100% of Donnan Gold. This transaction requires two-thirds shareholder approval along with other court regulatory listing and customary closing conditions. The meeting of special shareholders is scheduled for November 3rd, 2026 and the voting deadline is October 30th with closing expected by the end of the year. This transaction Give shareholders equity in a well-capitalized developer with ownership of the strategic asset projected to be the largest single gold mine in the United States with an anticipated market capitalization of about $5 billion. The transaction is expected to deliver immediate benefits to stakeholders by increasing net asset value, gold reserves, and resources per share. Specifically, it adds approximately 16 million ounces of and indicated resources, including 13 million ounces in proven and probable reserves. and this boosts the attributable annual production by over 520,000 ounces during the first decade. Beyond the numbers, consolidating ownership under one parent company streamlines to corporate decision-making and improves capital efficiency while maintaining independence governance through specific voting and lockup restrictions. This structure also creates a single point of contact for our key stakeholders, including landowners Chalista Corporation and the Cuscoquim Corporation. As highlighted on slide seven, Donlon Gold is positioned to become one of the highest annual gold producers in the Americas on both a resource and production basis. with projected production of approximately 1.1 million ounces per year over its 27-year mine life, comparing very favorably when looking at some of America's largest gold companies like Agnico Eagle, Equinox, and others that are listed on the chart. As mentioned earlier, once the transaction closes, the company is expected to have a market capitalization of approximately $5 billion, placing it among some of the largest gold companies in the industry, as shown on slide eight. This transaction is immediately accretive to Novigold shareholders across key share metrics including NAV per share and Gold Resources per share. In our view, having John Paulson and Dr. Thomas Kaplan serve as co-chairs following the close of this transaction will provide NOVA Gold with a uniquely aligned and experienced leadership team as the company advances Donlon Gold and considers opportunities to fund its future development. As shown on slide 10, Mr. Paulson brings a distinguished track record as a gold investor, including his longstanding commitment to NOVA Gold and his experience in identifying and investing in high quality differentiated gold assets. Combined with Dr. Kaplan's deep knowledge of Donal Gold and longstanding leadership of Novigold, their shared conviction, complementary expertise, market reach, and alignment with shareholders should position the company to advance the project efficiently and maximizing long-term shareholder value. On slide 11, we show Novogold's share price movement over the last two years. The strategic alignment between Novogold and Paulson has helped reignite investor confidence and share price momentum, reflecting the market's growing recognition of Donnan Gold's value and the potential benefits of a more streamlined ownership and development structure. As shown on slide 12, Don and Gold continued to extensively engage with government and regional stakeholders while supporting local programs across the YK region during the third quarter. This quarter, we coordinated with Chalista to conduct a series of village visits, including a dedicated community meeting in Crooked Creek, the closest village to the project to provide general updates and discuss the subsistence plan. Additionally, we've facilitated several key initiatives for the Subsistence Community Advisory Committee, including meetings on communication plans and a tour of the Red Dog Mine. On the infrastructure front, We are advancing our planning along the proposed pipeline corridor. We've initiated outreach to over 190 individuals and entities in the region, while coordinating closely with legislatures in the neighborhood boroughs. Engaged with key decision makers at the state and local levels, including recently holding briefings with Senator Dan Sullivan and collaborating with the DOE on permitting and infrastructure. Donilon's ongoing support of rural activities through Excel Alaska and health and safety initiatives provide key touch points in the region. Lastly, environmental stewardship remains a core priority. We completed the 2026 George River Salmon Monitoring Program in coordination with the native village of Napaimute, sampling over 7,000 fish. And we continued biodiversity monitoring at Snow Gulch to further strengthen our environmental baseline data. Turning to slide 13. Several work streams on the technical front continue to advance. The Bankable Feasibility Study remains on track for completion in 2027. A team led by Fluor is currently integrating major work packages and coordinating with specialist contractors, including WSP, Worley, and Hatch. Geotechnical work is wrapping up this fall at key sites, including the Jungjuk Port and the Access Road Corridor, while resource modeling and mine planning are progressing as planned toward a high quality bankable feasibility study. We are also scaling our internal capacity to support these technical and operational milestones. Since the start of 2026, we have more than doubled our team from 35 to over 70 employees across Anchorage and Vancouver. And we continue to recruit for critical roles as the project advances toward a final investment decision. As shown on slide 14, In the third quarter, we announced the appointment of Endeavor Financial and Macquarie Capital as financial advisors. They will help us evaluate various funding alternatives, ranging from conventional project finance to potential support from sovereign wealth funds, ensuring that our financing strategy is executed in tandem with the bankable feasibility study, to preserve long-term shareholder value. I will now turn the presentation over to Novigold's Vice President and Chief Financial Officer, Peter Adamek.