NOVAGOLD EXPRESSES GRATITUDE TO RETIRING DIRECTORS SHARON DOWDALL AND CLYNTON R. NAUMAN FOR THEIR EXEMPLARY SERVICE

The three new candidates standing for nomination to the Firm’s Board of Administrators shall fill one emptiness and exchange two present administrators who’ve chosen to retire from the Board after a few years of devoted and wonderful service to NOVAGOLD.

“On behalf of the Board of Administrators of NOVAGOLD, I want to categorical my most honest gratitude to Sharon Dowdall and Clynton R. Nauman for his or her very good insights and noteworthy contributions to the Firm throughout their tenure,” mentioned Dr. Thomas S. Kaplan, NOVAGOLD’s Chairman. “Their fantastic camaraderie might be missed on each stage, personally and professionally. That they each had been absolutely engaged within the profitable recruitment course of for impartial candidates to succeed them speaks volumes — not solely about their appreciation for the attractiveness of a seat on NOVAGOLD’s Board, but additionally about their dedication to making sure that our dedication to transparency and greatest practices stays steadfastly upheld sooner or later with the collection of really high-quality candidates.”

“Sharon is a gold customary for integrity. Her fixed engagement and distinctive steerage over the previous 11 years at NOVAGOLD have performed an essential half within the success and progress of the Firm. Her appreciable and broad experience within the mining trade, coupled with an equally spectacular authorized background, have offered super worth to the Board. We’re grateful for Sharon’s management function as Chair of the Governance Committee and for her rigorous work on the Compensation Committee. It has been a real pleasure to collaborate with Sharon for greater than a decade and all of us want our pricey good friend nice success in her future endeavours.”

“Clynton has been a merely phenomenal asset to the NOVAGOLD Board over the previous 24 years. Drawing on a wealth of technical and operational expertise, he has made a collection of pivotal contributions to the Board — serving to advance the Firm by a number of phases of progress to turn into the success it’s immediately. Because the Chair of our Technical Committee for a few years, Clynt offered excellent assist and steerage by the extraordinary useful resource progress and technical evolution of the Donlin Gold challenge in Alaska. We are going to always remember how a lot NOVAGOLD benefitted from his intensive data and unwavering dedication to the Firm and are immensely grateful for his service.”

NEW NOMINEES TO THE BOARD OF DIRECTORS

In surveying the candidates introduced for election, Dr. Kaplan highlighted the next:

“It’s a testomony to the distinctive mixture of attributes of the Donlin Gold asset, the NOVAGOLD administration crew’s confirmed excellence in advancing crucial challenge of its form, and our Board’s popularity for transparency and shareholder engagement, that our search would lead to a number of high-quality candidates from which to decide on. All three of the newly chosen nominees are first-rate, bringing to our Board particular person observe data of each success and integrity, in addition to an beautiful collective body of reference that does justice to their predecessors and shall present the Firm with a number of areas of experience as Donlin Gold continues its ascent up the worth chain as one of many ‘greatest at school’ within the gold growth house.”

NOMINATION OF HUME KYLE TO NOVAGOLD’S BOARD OF DIRECTORS

Mr. Kyle has over 35 years of personal sector and public accounting expertise working with pure sources firms. He not too long ago retired from his function as Government Vice President and CFO of Dundee Valuable Metals Inc., a multinational gold mining firm, the place he served from 2011 to 2022. Previous to that, Mr. Kyle was Vice President, Treasurer and Controller of TransAlta Company, a multinational energy technology and wholesale advertising and marketing firm (2009 to 2011), and Vice President, Finance and CFO of Fort Chicago Power Companions L.P., a pipeline, pure gasoline liquids processing, and energy firm (2003 to 2009). He additionally held more and more senior finance and accounting roles at Nexfor Inc., Noranda Inc., Deloitte & Touche, and Worth Waterhouse & Co.

As well as, Mr. Kyle served on the boards of Stornoway Diamond Company (2014 to 2019), Alliance Pipeline (2004 to 2009), Aux Sable (2004 to 2009), and the Canadian Affiliation of Earnings Funds (2005 to 2009), serving on a number of committees, together with as Chair of the Audit Committee. He holds a bachelor of arts in economics and accounting from the College of Western Ontario, a graduate diploma in public accounting from McGill College, a CA designation from the Canadian Institute of Chartered Accountants, a CFA designation from the Institute of Chartered Monetary Analysts, and an ICD.D designation from the Institute of Company Administrators.

The Board of Administrators of NOVAGOLD has decided that Mr. Kyle ought to function a Director for the Firm to profit from his intensive senior government and board expertise working with giant, publicly-traded, capital-intensive, multinational firms working within the mining, power and pure useful resource sectors, in addition to from his experience in a broad vary of areas, together with finance, worldwide accounting and monetary reporting, company technique, enterprise planning and efficiency administration, taxation, threat administration, mergers and acquisitions, and company communications, management and governance.

NOMINATION OF DANIEL MUÑIZ-QUINTANILLA TO NOVAGOLD’S BOARD OF DIRECTORS

Mr. Muñiz has greater than 25 years of expertise in worldwide regulation, capital markets and finance within the mining, logistics and infrastructure industries. His experience in mining is wide-ranging, from operations to mergers and acquisitions. After serving as Managing Director (CEO) of Industrial Minera Mexico, the underground mining division of Grupo Mexico from 2010 to 2014, Mr. Muñiz was elevated to the function of Managing Director (CEO) and Government Vice Chair of Americas Mining, the holding firm of the mining division of Grupo Mexico, a place he held from 2014 to 2018. Throughout this tenure, he was straight answerable for tens of hundreds of workers and operations spanning Mexico, Chile and Peru. As well as, he served as a member of the Board of Administrators and Government Vice Chairman of Southern Copper Corp., a 90% subsidiary of Americas Mining.

Previous to his profession in operations, Mr. Muñiz served as CFO of Grupo Mexico, the place he efficiently raised over US$11 billion in capital by a wide range of securities, together with loans, bonds, structured bonds and challenge finance in a wide range of actual belongings, comparable to mining, railroads, electrical energy, gasoline, oil, toll roads, airports, development, engineering, and actual property. Mr. Muñiz holds a regulation diploma from Universidad Iberoamericana, a grasp’s diploma in regulation from Georgetown College, and a grasp’s diploma in enterprise administration from Instituto de Empresa.

Mr. Muñiz at present serves as a member of the board of administrators of Brookfield Infrastructure Company and serves on the board of administrators and as chairman of the Audit Committee of Brookfield Infrastructure Companions LP, the world’s largest infrastructure non-public fairness fund. He additionally serves as a Director of Hudbay Minerals Inc., and Gatos Silver Inc. He’s a founding accomplice of Whetstone Sources, a non-public base and EV metals acquisition firm; Government Chair of privately-held Minera Adularia, and Government Vice-Chair of privately-held Sunshine Silver.

The Board of Administrators of NOVAGOLD has decided that Mr. Muñiz ought to function a Director for the Firm to profit from his wide-ranging and long-standing expertise as an government and director of assorted mining and infrastructure companies within the areas of capital markets, mergers and acquisitions, finance, and company management.

NOMINATION OF DAWN WHITTAKER TO NOVAGOLD’S BOARD OF DIRECTORS

Ms. Whittaker has greater than 30 years of expertise as a lawyer working in capital markets, mergers and acquisitions, company finance and company governance. She at present serves because the Unbiased Board Chair of Triple Flag Valuable Metals Corp., an NYSE and TSX-listed valuable metals streaming and royalty finance firm. Ms. Whittaker served as a member of the corporate’s advisory board main as much as its preliminary public providing in Might 2021, which constituted the most important valuable metals IPO globally by market capitalization since 2008. She then served as Chair of the Board by the corporate’s transformative acquisition of Maverix Metals accomplished in January 2023, thus positioning Triple Flag because the main rising senior streaming and royalty firm.

Ms. Whittaker is a member of the Board of Sierra Metals Inc., and beforehand served on the Boards of Detour Gold Company (2018 to 2020) and Kirkland Lake Gold Inc. (2012 to 2016). Previous to her retirement in 2018, she was a senior accomplice at Norton Rose Fulbright LLP, a world regulation agency, the place she was the nationwide chief of the agency’s Mining and Commodities Workforce in Canada from 2012 to 2015 in addition to a member of the agency’s Canadian partnership Committee from 2014 to 2017. As well as, Ms. Whittaker beforehand served on the Steady Disclosure Advisory Committee of the Ontario Securities Fee. She holds a bachelor of arts and a bachelor of legal guidelines from Queen’s College.

The Board of Administrators of NOVAGOLD has decided that Ms. Whittaker ought to function a Director for the Firm to profit from her vital expertise as a lawyer and board member of assorted mining trade companies, in addition to from her appreciable experience within the areas of company governance, insights on greatest practices in representing shareholder pursuits, capital markets, mergers and acquisitions, and company finance.

NOVAGOLD VIRTUAL MEETING AND SHAREHOLDER PARTICIPATION

NOVAGOLD’s 2023 Annual Basic Assembly of Shareholders might be held just about solely. Shareholders could solid their vote prematurely by proxy or could solid their vote through the Assembly. Shareholders may take part within the Assembly from any geographic location. Please check with NOVAGOLD’s Administration Info Round dated March 24, 2023 for detailed directions on voting. We imagine this constitutes an essential step in enhancing accessibility to our annual Assembly for all of our shareholders in addition to decreasing the carbon footprint of our actions.

Shareholders could watch a dwell webcast of the Assembly, whereas registered shareholders in addition to duly appointed proxyholders could submit questions digitally through the Assembly at: www.virtualshareholdermeeting.com/NG2023 .

Questions may be submitted to administration and to the Board of Administrators previous to the Assembly by way of e mail at data@novagold.com . Shareholders are inspired to log in to the Assembly quarter-hour previous to the scheduled begin time. Please ensure to have the 16-digit management quantity out of your voting supplies obtainable when logging in to the Assembly.

NOVAGOLD’s Administration Info Round dated March 24, 2023 and Annual Report back to Accompany the Administration Info Round can be found on the Firm’s web site, www.novagold.com/buyers/mic/ , on SEDAR at www.sedar.com , and on EDGAR at www.sec.gov .

NOVAGOLD Contacts:
Mélanie Hennessey
Vice President, Company Communications

1-604-669-6227 or 1-866-669-6227

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¹ NOVAGOLD defines a Tier One gold growth challenge as one with a projected manufacturing lifetime of a minimum of 10 years, annual projected manufacturing of a minimum of 500,000 ounces of gold, and common projected money prices over the manufacturing life which are within the decrease half of the trade value curve.
² Alaska ranks quantity 4 globally within the Fraser Institute Annual Survey of Mining Firms 2021 Funding Attractiveness Index.