NOVAGOLD RESOURCES INC. (“NOVAGOLD” or the “Company”) (NYSE
American, TSX: NG) announces that the location and time of the
Annual Meeting of Shareholders (the “Meeting”) has been changed to
the Company’s offices at 400 Burrard Street, Suite 1860, Vancouver,
British Columbia, V6C 3A6, on May 14, 2020 at 1:30 p.m. PT. The
original Meeting location is no longer available.
NOVAGOLD MEETING AND
SHAREHOLDER PARTICIPATION
Due to ongoing concerns related to the spread of COVID-19, and
in order to mitigate potential risks to the health and safety of
its shareholders, employees, and other stakeholders, the Company
strongly encourages shareholders to vote on the matters before the
Meeting by proxy, and to view the Meeting presentation online by
way of a conference call and webcast, rather than attend in person.
The routine legal requirements of the annual meeting will be
carried out by a limited number of Company representatives. The
designated proxy representatives will cast ballots as indicated by
your proxy.
NOVAGOLD encourages all shareholders to participate in the
Meeting remotely. Shareholders may submit questions to management
ahead of the Meeting via email at info@novagold.com. There will
also be an opportunity to ask questions during the Meeting by
conference call following the conclusion of the official business
portion of the Meeting and webcast presentation.
WEBCAST AND CONFERENCE CALL
INFORMATION
The conference call and webcast will be available on NOVAGOLD’s
website at https://www.novagold.com/investors/events/.
The webcast and conference call-in details are provided below.
Following the official Meeting, the Company will provide an
overview of NOVAGOLD’s 2019 achievements and the outlook for 2020.
Callers should dial-in 10 minutes prior to the scheduled start time
and simply ask to join NOVAGOLD’s call.
Webcast: |
Here |
North American callers: |
1-800-319-4610 |
International callers: |
1-604-638-5340 |
The webcast will be archived on NOVAGOLD’s website for one
year and the conference call replay will be available for 14 days
following the Meeting. To access the conference call replay please
dial 1-800-319-6413 (North America),
or 1-604-638-9010 (International), followed by Access
Code: 3781. For a transcript of the call please see the Company’s
website or email info@novagold.com.
Shareholders of record at the close of business on March 18,
2020 are entitled to receive notice of the Meeting and to vote at
the Meeting. Details on the agenda of the Meeting and items to be
voted on are contained in the Management Information Circular filed
with regulators and on the Company website. The proxy card included
with the proxy materials previously distributed will not be updated
to reflect the change in location and time and may continue to be
used to vote your shares in connection with the Meeting. Any
shareholder attending the Meeting is to present government-issued
photo identification and the Meeting Notice received in the
mail.
If the Company is unable to hold the Meeting on May 14,
2020, NOVAGOLD will notify shareholders of any changes to the
date, time, and/or location through the issuance of
a media release and the filing of additional proxy
materials with the SEC and SEDAR, both of which will be
available on our corporate
website at www.novagold.com.
NOVAGOLD’s 2020 Management Information Circular and Annual
Report to Accompany the Management Information Circular are
available on the Company’s
website, www.novagold.com/investors/mic/, on SEDAR
at www.sedar.com, and on EDGAR at www.sec.gov
ABOUT NOVAGOLD
NOVAGOLD is a well-financed precious metals company focused on
the development of its 50%-owned Donlin Gold project in Alaska, one
of the safest mining jurisdictions in the world. With approximately
39 million ounces of gold in the measured and indicated mineral
resource categories, inclusive of proven and probable mineral
reserves (541 million tonnes at an average grade of approximately
2.24 grams per tonne in the measured and indicated resource
categories on a 100% basis),1 Donlin Gold is regarded to be one of
the largest, highest-grade, and most prospective known open pit
gold deposits in the world. According to the Second Updated
Feasibility Study (as defined below), once in production, Donlin
Gold is expected to produce an average of more than one million
ounces per year over a 27-year mine life on a 100% basis. The
Donlin Gold project has substantial exploration potential beyond
the designed footprint which currently covers 1.9 miles (3 km) of
an approximately five-mile (8 km) long gold-bearing trend. Current
activities at Donlin Gold are focused on state permitting,
optimization work, community outreach and workforce development in
preparation for the construction and operation of this project.
With a strong balance sheet, NOVAGOLD is well-positioned to fund
its share of permitting and optimization advancement efforts at the
Donlin Gold project.
Scientific and Technical Information
Some scientific and technical information contained herein with
respect to the Donlin Gold project is derived from the “Donlin
Creek Gold Project Alaska, USA NI 43-101 Technical Report on Second
Updated Feasibility Study” prepared by AMEC with an effective date
of November 18, 2011, as amended January 20, 2012 (the “Second
Updated Feasibility Study”). Kirk Hanson, P.E., Technical Director,
Open Pit Mining, North America, (AMEC, Reno), and Gordon Seibel,
R.M. SME, Principal Geologist, (AMEC, Reno) are the Qualified
Persons responsible for the preparation of the independent
technical report, each of whom are independent “qualified persons”
as defined by NI 43-101.
Clifford Krall, P.E., who is the Mine Engineering Manager for
NOVAGOLD and a “qualified person” under NI 43-101, has approved and
verified the scientific and technical information related to the
Donlin Gold project contained in this press release.
NOVAGOLD Contacts:Mélanie Hennessey Vice
President, Corporate Communications
Jason Mercier Manager, Investor Relations
604-669-6227 or 1-866-669-6227
Cautionary Note Regarding
Forward-Looking Statements
This press release includes certain “forward-looking
information” and “forward-looking statements” (collectively
“forward-looking statements”) within the meaning of applicable
securities legislation, including the United States Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are frequently, but not always, identified by words such
as “expects”, “anticipates”, “believes”, “intends”, “estimates”,
“potential”, “possible”, and similar expressions, or statements
that events, conditions, or results “will”, “may”, “could”, “would”
or “should” occur or be achieved. Forward-looking statements are
necessarily based on several opinions, estimates and assumptions
that management of NOVAGOLD considered appropriate and reasonable
as of the date such statements are made, are subject to known and
unknown risks, uncertainties, assumptions and other factors that
may cause the actual results, activity, performance or achievements
to be materially different from those expressed or implied by such
forward-looking statements. All statements, other than statements
of historical fact, included herein are forward-looking statements.
These forward-looking statements include statements regarding the
potential development and construction of Donlin Gold; perceived
merit of properties; the advancement of optimization studies at
Donlin Gold; potential opportunities to enhance or maximize the
value of Donlin Gold; the timing and likelihood of permits; mineral
reserve and resource estimates; work programs; capital
expenditures; timelines; strategic plans; and benefits of the
Donlin Gold project and market prices for precious metals. In
addition, any statements that refer to expectations, intentions,
projections or other characterizations of future events or
circumstances are forward-looking statements. Forward-looking
statements are not historical facts but instead represent
NOVAGOLD’s management expectations, estimates and projections
regarding future events or circumstances on the date the statements
are made.
Important factors that could cause actual results to differ
materially from expectations include the need to obtain additional
permits and governmental approvals; the timing and likelihood of
permits; the need for additional financing to explore and develop
properties and availability of financing in the debt and capital
markets; the outbreak of the coronavirus global pandemic
(COVID-19); uncertainties involved in the interpretation of
drilling results and geological tests and the estimation of
reserves and resources; the need for continued cooperation between
NOVAGOLD and Barrick Gold Corp. for the continued exploration,
development and eventual construction of the Donlin Gold property;
the need for cooperation of government agencies and native groups
in the development and operation of properties; risks of
construction and mining projects such as accidents, equipment
breakdowns, bad weather, natural disasters, climate change,
non-compliance with environmental and permit requirements,
unanticipated variation in geological structures, ore grades or
recovery rates; unexpected cost increases, which could include
significant increases in estimated capital and operating costs;
fluctuations in metal prices and currency exchange rates; whether a
positive construction decision will be made regarding Donlin Gold;
and other risks and uncertainties disclosed in reports and
documents filed by NOVAGOLD with applicable securities regulatory
authorities from time to time. The forward-looking statements
contained herein reflect the beliefs, opinions and projections of
NOVAGOLD on the date the statements are made. NOVAGOLD assumes no
obligation to update the forward-looking statements of beliefs,
opinions, projections, or other factors, should they change, except
as required by law.
1 Donlin Gold data as per the Second Updated
Feasibility Study (as defined herein). Donlin Gold measured
resources of approximately 8 Mt grading 2.52 g/t and indicated
resources of approximately 534 Mt grading 2.24 g/t, each on a 100%
basis. Mineral resources have been estimated in accordance with NI
43-101.
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