NovaGold Resources Inc.

NOVAGOLD RESOURCES INC. (TSX, NYSE American: NG) is a pure-play gold development company focused on advancing the Donlin Gold project in Alaska. NOVAGOLD currently holds a 60% ownership interest in Donlin Gold, with the remaining 40% held by Paulson Advisers and its affiliates.

Donlin Gold is one of the largest and highest-grade undeveloped open-pit gold projects in the world, containing approximately 40 million ounces of gold in Measured and Indicated Mineral Resources at an average grade of 2.22 g/t. Located in Alaska, a premier mining jurisdiction, Donlin Gold combines exceptional scale, grade, exploration upside, and leverage to rising gold prices.

NOVAGOLD is well-funded, ending the first quarter of 2026 with approximately $393 million in cash and term deposits. This strong treasury provides the financial flexibility to advance the Bankable Feasibility Study (BFS), support ongoing project activities, and pursue the next phase of development.

Cash: US$392.5 million (cash and term deposits as of February 28, 2026)

Management Profile

Greg Lang – President & CEO
Mr. Greg Lang is NOVAGOLD’s President and Chief Executive Officer. Mr. Lang has over 40 years of diverse experience in mine operations, project development and evaluations, including time as President of Barrick Gold North America, a wholly-owned subsidiary of Barrick Gold Corporation. Mr. Lang has held progressively responsible operating and project development positions over his 10-year tenure with Barrick and, prior to that, with Homestake Mining Company and International Corona Corporation, both of which are now part of Barrick. He holds a Bachelor of Science in Mining Engineering from the University of Missouri-Rolla and is a Graduate of the Stanford University Executive Program.

Mélanie Hennessey – VP, Corporate Communications
Ms. Mélanie Hennessey is NOVAGOLD’s Vice President, Corporate Communications, responsible for all aspects of the Company’s internal and external communications functions and investor relations activities. Ms. Hennessey has extensive experience within the precious metals mining industry particularly in investor relations, corporate communications, crisis management as well as mergers and acquisitions. She is a public speaker advocating for stakeholder engagement, the advancement of individuals aspiring to executive-level positions and women in leadership roles. Prior to joining the Company, she served in a variety of executive and senior roles with such precious metals companies as Goldcorp Inc., New Gold Inc., and Hecla Mining Company. Ms. Hennessey holds a Bachelor of Arts degree in Communications and earned a Master of Business Administration degree from the University of Ottawa.

What is your rationale for taking part in 121 Mining Investment?

The 121 Mining Investment Conference provides an excellent opportunity to engage directly with investors seeking exposure to high-quality gold development assets in safe jurisdictions.

As the owner of a majority interest in Donlin Gold, NOVAGOLD offers investors exposure to a world-class gold asset with significant scale, grade, and long-term value potential. With the Bankable Feasibility Study now underway and key technical workstreams advancing, we believe this is an important time to communicate our progress and vision for the project.

We look forward to meeting with both existing and prospective investors to discuss the significant opportunity represented by Donlin Gold and its leverage to the gold price.

What recent news would you like to highlight to investors attending?

• Commencement of the Donlin Gold Bankable Feasibility Study, with Fluor appointed as lead engineering firm.

• Awarding of major engineering contracts to WSP, Worley, and Hatch to advance key infrastructure and processing workstreams.

• Completion of an upsized financing that strengthened NOVAGOLD's balance sheet.

• Approximately US$393 million in cash and term deposits as of February 28, 2026.

• Signing of a Letter of Intent with Glenfarne Alaska LNG to evaluate potential natural gas supply solutions for Donlin Gold.

• Continued advancement of permitting, engineering, stakeholder engagement, and technical de-risking initiatives.

What are your key goals in 3 months, 6 months, 12 months?

3 Months:

• Advance engineering and technical workstreams supporting the BFS.

• Continue geotechnical drilling and field programs.

• Progress infrastructure studies, including energy supply alternatives.

• Review development schedules and budgets as engineering work advances. .

6 Months:

• Continue integration of engineering, environmental, and technical studies into the BFS.

• Advance permitting support activities and stakeholder engagement programs.

• Progress exploration and district-scale evaluation opportunities.

• Further refine project execution and financing strategies.

12 Months:

• Continue advancing the BFS toward its targeted completion in 2027.

• Complete major engineering and technical milestones.

• Advance project financing discussions and development planning.

• Continue building value through responsible project advancement and stakeholder partnerships.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

As a development-stage company, NOVAGOLD's primary focus is the successful advancement of Donlin Gold through the feasibility and development process. Key challenges include permitting timelines, project execution, capital allocation, and broader market conditions affecting the mining sector.

NOVAGOLD is addressing these challenges through a strong balance sheet, engagement of leading engineering firms, disciplined project management, active stakeholder engagement, and continued technical de-risking of the project.

What do you think makes your company such a compelling investment?

NOVAGOLD offers investors exposure to one of the world's largest undeveloped gold projects in a stable mining jurisdiction.

Key differentiators include:

• Majority ownership (60%) of the Donlin Gold project.

• Approximately 40 million ounces of Measured and Indicated Resources.

• Grade more than double the global average for comparable large gold deposits.

• Significant leverage to higher gold prices.

• Strong treasury of approximately US$393 million.

• Active Bankable Feasibility Study targeted for completion in 2027.

• Extensive exploration upside across a large land package.

What are the top 3 key investor takeaways?

1. World-Class Asset - Donlin Gold contains approximately 40 million ounces of gold in Measured and Indicated Mineral Resources and remains one of the largest undeveloped gold projects globally.

2. Strong Financial Position and Development Momentum - NOVAGOLD has approximately US$393 million in cash and term deposits and has commenced a Bankable Feasibility Study with leading engineering partners supporting advancement toward development.

3. Exceptional Leverage to Gold and Exploration Upside - Donlin Gold's scale, grade, long mine life, and significant district exploration potential provide substantial leverage to rising gold prices and long-term value creation.