Drill Assay Results Yielding More High-Grade Intercepts At Donlin Project

ANCHORAGE, AK - Donlin Gold LLC reported on additional assay results from the 2022 drill program at the Donlin Gold Project, including 64 completed drill holes plus partial results for 9 holes. Key takeaways include: The drilling was completed ahead of schedule in September, with assay results received to date representing approximately 70% or 29,600 meters (m) of drilling; The top five intervals in this release come from four of the 30 holes drilled in the 20x20 m spaced Divide grid, and with 97% of the assays from these 30 holes received, results demonstrate the potential for favorable local reconciliation with the resource model; During the 2022 drill program, 141 exploration drill holes were completed at 42,331 m, with the final assay results expected to be released in early 2023; The 2022 field season and Donlin Gold owners’ workshop in September advanced key project efforts including the geological model which confirms the size and continuity of the orebody and paves the way for the next steps such as optimizing different mining scenarios, refining engineering studies, continuing community outreach, and advancing permitting actions; and With these additional assay results, the owners are advancing Donlin Gold up the value chain and are working toward a feasibility study decision

Barrick President and Chief Executive, Mark Bristow said, “I am encouraged by the progress that we are making at Donlin and in particular the understanding that our teams are accruing with regards to the orebodies and associated mineralization. Our recent workshop in Anchorage which also involved meetings with our Native Corporation partners, and the visit to the project helped us to set priorities for the next steps towards optimization work and studies.”

Greg Lang, NOVAGOLD’s President and CEO, said, “The 2022 drill campaign has proven rewarding for all of us at NOVAGOLD. The latest set of assays reported have delivered outstanding gold intercepts, especially for an open pit deposit that include, among others, drill hole DC22-2068 that intersected 42.28 m grading 30.68 g/t gold, with a sub-interval of 23.16 m grading 54.22 g/t gold located in the Divide domain which overlaps both the ACMA and Lewis deposits, making it one of the most significant intercepts in terms of grade-thickness ever reported at the Donlin Gold project”.

Dan Graham, General Manager of Donlin Gold added, “The 2022 Donlin Gold drill program has been a great success because of the truly remarkable work performed by the Donlin Gold team, including Calista and The Kuskokwim Corporation (TKC), and because of our collective dedication to the health and safety of everyone at site. We are thankful for our 150 contractors and employees, the majority of which are local hires from 24 Yukon-Kuskokwim (Y-K) communities, as they exceeded productivity rates and were able to complete the drilling ahead of schedule.”