Ms. Mélanie Hennessey reports

NOVAGOLD ISSUES 2022 SUSTAINABILITY REPORT

Novagold Resources Inc. has published its 2022 sustainability report with a focus on the company's fiscal 2022 performance in the areas of environmental stewardship, health and safety, social engagement, and corporate governance. Last year, the company released its second annual sustainability report which included Novagold's expanded ESG data that allow the company to monitor performance changes and improvements over time. As a development-stage mining company whose primary asset is its 50-per-cent interest in the Donlin gold project, Novagold has taken a long-term approach to developing, implementing and reporting on the company's sustainability practices and measurement.

• Featuring a comprehensive review of Novagold's performance in all areas of environmental, social and governance (ESG) including health and safety, environmental stewardship, social and community engagement, and corporate governance;
• Demonstrating an excellent health and safety record and continued strong commitments to environmental protection, community investment, and stakeholder engagement at the Donlin gold project;
• Highlighting long-standing partnerships with Donlin Gold LLC, Calista Corp. and The Kuskokwim Corp. (TKC), the project's Alaska native corporation partners, who are dedicated to the elders' vision of responsible development that creates jobs and economic benefits for the communities of the Yukon-Kuskokwim region (Y-K) while protecting the environment;
• Committing to protecting the environment with Novagold's adoption of new corporate climate change and biodiversity policies in 2023.

In the spirit of advancing the Donlin gold project toward a construction decision and eventual operation, the company continues to work in close coordination with Donlin Gold LLC and its Alaska native corporation partners, Calista and TKC, to bring economic, social and environmental benefits to the people of the Y-K region in ways that value and protect their lands, waters and traditional ways of life. Specifically, Novagold's commitment to the people of the Y-K region has been integral to the company's project development strategy going back more than two decades. Some of these commitments are reflected in the life-of-mine agreements Donlin Gold LLC has with Calista and TKC. Under the provisions of the Alaska Native Claims Settlement Act, which resolved land claims and allotted 44 million acres of land for use by Alaska Native Corporations, the benefits of the Donlin gold project will be shared with these corporations and their native Alaskan shareholders.

Adoption of climate change and biodiversity policies

During 2023, Novagold adopted a formal corporate climate change policy for its operations. Beyond the aspirational goal of net zero by 2050, the policy lays out how the company will address climate change in each aspect of its current operations, which are limited, and of projects that the company will operate in the future (for example, through construction and operation of the Donlin gold project). The company also adopted a formal biodiversity policy that is especially important to Donlin Gold LLC given the region's reliance on the waters, lands and biological resources for its residents' subsistence lifestyle. In 2023, the company will focus on starting to implement the policies, including as appropriate with Donlin Gold LLC.

Novagold is fully dedicated to building trust and transparency in, as well as continuous improvement and enhancements to, the company's sustainability initiatives and policies. The company believes that mines can be developed responsibly in collaboration with people who possess the local knowledge to help minimize environmental impacts while benefiting from economic activity. Furthermore, the company's team is committed to the principles of sustainable development, including the conservation and preservation of natural resources and the environment. The company's goal is to be first-in-class in the development and implementation of its ESG program and as always, the company welcomes input from its partners, shareholders, stakeholders and other interested parties.

The 2022 sustainability report is available on Novagold's website.

Novagold welcomes your comments, questions or suggestions about the sustainability report and related information. Please send your feedback to info@Novagold.com.

About Novagold Resources Inc.

Novagold is a well-financed precious metal company focused on the development of its 50-per-cent-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-per-cent basis), the Donlin gold project is regarded to be one of the largest, highest-grade and most prospective known open-pit gold deposits in the world. According to the 2021 technical report and the S-K 1300 report (both as defined below), once in production, the Donlin gold project is expected to produce an average of more than one million ounces per year over a 27-year mine life on a 100-per-cent basis. The Donlin gold project has substantial exploration potential beyond the designed footprint of the open pit, which currently covers three kilometres of an approximately eight-kilometre-long gold-bearing trend. Current activities at the Donlin gold project are focused on state permitting, engineering studies, community outreach and work force development in preparation for the eventual construction and operation of this project. With a strong balance sheet, Novagold is well positioned to finance its share of permitting and advancement efforts at the Donlin gold project.

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