Mr. Greg Lang reports

Novagold RELEASES 2023 SUSTAINABILITY REPORT

Novagold Resources Inc. has published its 2023 sustainability report with a focus on its 2023 performance in the areas of environmental stewardship, health and safety, social responsibility and engagement, and corporate governance.

• Providing a comprehensive overview of Novagold's environmental, social and governance (ESG) performance, emphasizing remarkable health and safety records, steadfast dedication to environmental protection, continuous community investment, extensive stakeholder engagement, and robust corporate governance.
• Highlighting Novagold's investment in the company's partnerships with Donlin Gold LLC, Calista Corp. and The Kuskokwim Corp. (TKC) to reinforce Donlin Gold's social licence, while emphasizing continuing community engagement and addressing specific needs.
• Integrated Novagold's Task Force on Climate-Related Financial Disclosures Report (TCFD) into this year's sustainability report and reported in alignment with the Global Reporting Initiative framework (GRI).

"Our 2023 achievements continue to build on the excellent work accomplished in the areas of environmental stewardship, health and safety, social engagement, and corporate governance, by the teams at Donlin Gold and Novagold over many years in advancing the Donlin gold project for the benefit of our stakeholders and shareholders. The team's unwavering commitment to the company and steadfast dedication to the project, the Yukon-Kuskokwim (Y-K) region, and Alaska, as well as our sustainability committee's and board of directors' guidance, have been instrumental in successfully advancing this extraordinary asset in western Alaska," said Greg Lang, president and chief executive officer.

As a development-stage mining company, Novagold focuses primarily on advancing the Donlin gold project while adopting a long-term approach to sustainability. This year, the company proudly presents its fourth annual sustainability report, aligned with the GRI framework and TCFD. Its continuous efforts to advance the Donlin gold project toward construction and eventual operation are fortified by the company's strong Alaska native corporation partnerships with Calista and TKC. Together, the companies' aim is to deliver economic and social benefits to the Y-K region through the environmentally responsible development of the Donlin gold project. Emphasizing transparency, the company's focus is on effectively communicating sustainability priorities and ESG performance.

Central to Novagold's ethos is an unwavering focus on sustainable development, where collaboration with local communities minimizes environmental impacts, stimulates economic growth and sets new industry benchmarks. Consistent with the company's commitment to transparency and sustainability, since 2020, Novagold's annual sustainability reports have highlighted the company's significant achievements and dedication to responsible business practices and governance. Collaborative initiatives with Calista and TKC help protect the environment and provide much-needed investment in southwestern Alaska's indigenous communities.

The 2023 sustainability report is available on Novagold's website.

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) (3), 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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