Candelaria Broadcasts Adoption of New Inventory Possibility Plan and Amended Restricted Share Unit Plan

Mark Bristow, Barrick’s President and CEO, mentioned: “As a profitable 2022 drill program involves an in depth, we are actually effectively positioned to start our 2023 work, which is able to include reviewing a collection of key trade-off research, assessing mining situations, and persevering with with allowing and regulatory engagement, together with our neighborhood companions.”

Greg Lang, NOVAGOLD’s President and CEO , mentioned: “We couldn’t be happier with the result of this season’s drill program, Donlin Gold’s largest marketing campaign in 15 years. From the earliest to the final outcomes, the assay labs returned a number of the greatest intercepts for the reason that challenge’s inception — and certainly amongst open-pit gold initiatives. With this extremely profitable train behind us, adopted by the completion of the useful resource mannequin and trade-off research, the homeowners sit up for supporting the Donlin Gold crew and its companions Calista and TKC in positioning the challenge for the subsequent steps in taking Donlin Gold up the worth chain for the good thing about all stakeholders.”

Dan Graham, Basic Supervisor of Donlin Gold added , “The 2022 drill marketing campaign was a powerful success by which all concerned can take nice delight. It represents the product of the distinctive spirit of teamwork exhibited by Donlin Gold, Calista and TKC. Our collective dedication to the best requirements of security, social accountability, and environmental stewardship is why the 2022 drilling was accomplished forward of schedule but additionally with none lost-time incidents.”

Most Vital Drill Program in Over a Decade Progresses the Donlin Gold Deposit and Advances Key Challenge Efforts

Donlin Gold’s 2022 drill program was accomplished in September with 141 holes drilled for a complete of 42,331 m. The ultimate set of outcomes launched right now embrace assays for 37 full and seven partial holes, encompassing the remaining 12,762 m of size drilled. Drilling in 2022 returned a number of the greatest assay outcomes seen thus far at Donlin Gold. The success of this program is as a result of distinctive dedication of the Donlin Gold crew in Anchorage and at website, the vast majority of which have been native hires from 24 totally different communities within the Y-Okay area, who all share the aim of defending the well being and security of their colleagues and environmental stewardship.

As a part of the important thing focus space for the drill program, tight-spaced grid drilling within the consultant areas inside the principle structural domains of the deposit (Lewis – additional infilled to 10m x 10m, West ACMA and Divide areas) confirmed latest geological modelling at wider drill-spacing within the instant space surrounding the grids. It additionally recognized further short-scale controls that can be integrated in an replace to enhance the geological domains used for world useful resource estimation, which can be used for strategic mine planning work. As well as, the 14 geotechnical drill holes offered outcomes for advancing efforts to finish the applying for the Alaska Dam Security Certifications.

With the receipt of the ultimate assay outcomes for the 2022 drill program (which returned important high-grade intercepts and continued to display vital grade continuity), an replace of the useful resource mannequin, and completion of trade-off research, the homeowners count on to take the subsequent steps in bringing Donlin Gold up the worth chain.

5 of the highest intervals obtained from the ultimate set of 2022 assay outcomes launched right now embrace:

Stakeholder and Authorities Engagement

The Donlin Gold challenge continues to work with Calista and TKC in all points of outreach and engagement all through the Y-Okay area. Crooked Creek, the closest neighborhood to the challenge website within the Y-Okay area formally expressed their help of Donlin Gold. Three further Shared Worth Statements have been additionally signed with villages within the Y-Okay area within the final three months for a complete of 11. These formalize present engagement with key native communities, increase upon the long-term relationships already established with them, and deal with particular neighborhood wants together with water, sewer, and stable waste initiatives; the ice highway that connects distant villages within the Y-Okay area; salmon and different aquatic life research; and suicide prevention and public security applications. Native hires from the 2022 drill program will proceed to help Donlin Gold’s engagement efforts by means of the Group Liaison program in 5 Y-Okay villages.

Calista and Donlin Gold continued their proactive, bipartisan outreach in Alaska and with the Administration and Congress in Washington, D.C. to spotlight the thoroughness of the challenge’s environmental evaluation and allowing processes, along with the appreciable advantages that the challenge would ship to all Native Alaskans. Alaska U.S. Senator Lisa Murkowski and Governor Michael Dunleavy have been re-elected within the November 2022 United States mid-term elections, and together with U.S. Senator Dan Sullivan, have all been long-term supporters of the Donlin Gold challenge. We additionally acknowledge the historic re-election of U.S. Consultant Mary Peltola for a full time period as the primary Alaska Native to affix Congress and sit up for our continued outreach to her relating to Donlin Gold within the coming yr.

Atmosphere and Social Investments

Environmental stewardship, schooling, neighborhood wellness, and cultural preservation represent key focus investments for Donlin Gold within the Y-Okay area. The challenge helps these initiatives by means of fishery research and different environmental actions, subsistence and cultural preservation efforts, and academic grants. A variety of actions and initiatives have been carried out in collaboration with Calista and TKC within the fourth quarter. Donlin Gold supported varied search and rescue groups within the area, offered funding to the Wholesome Alaska Natives Basis and Bethel Group Providers Basis, in addition to sponsored and took part within the Alaska Secure Riders initiative, which promotes security for year-round outside sports activities. Donlin Gold fostered schooling, neighborhood wellness and cultural preservation by means of quite a lot of interventions together with a number of river research, supporting the native college district and academic organizations, funding and taking part in youth sporting actions, and backing initiatives led by Conventional Councils and Native communities.

Allowing Replace

Donlin Gold is a federally permitted challenge on non-public Alaska Native Company land designated, by legislation, for mining and owned by Calista and TKC, with whom we have now a superb and longstanding partnership. Allowing in Alaska represents a considerable endeavor that takes a number of years to make sure a diligent, thorough, clear, and inclusive course of for all concerned, together with stakeholders from the Y-Okay area. As dedicated companions to the second largest gold-producing state in one of many world’s premier jurisdictions, we welcome a course of that enhances our social and environmental license for many years to return.

In 2022, Donlin Gold utilized for a brand new air high quality allow from the Alaska Division of Environmental Conservation (ADEC) and a draft allow was issued for public remark in December 2022. Donlin Gold additionally submitted its utility to ADEC for the frequently scheduled reissuance of its Alaska Pollutant Discharge Elimination System allow and in December 2022, ADEC despatched a letter indicating that the applying is full and the allow will stay in impact till ADEC completes the reissuance course of. On November 1, 2022, the Alaska Division of Pure Assets (ADNR) finalized the re-location plan for public easements within the mine website and transportation facility areas; these selections weren’t appealed.

As that is the norm in the US, we have now all the time ready and arranged ourselves for potential challenges to the Federal and State allowing processes. Our challenge management and litigation groups are intimately aware of the processes that should be adopted. Donlin Gold and its homeowners, alongside the steadfast advocacy of Calista and TKC, proceed to help the State and Federal authorities businesses within the protection of what has constituted an exceptionally thorough and diligent allowing course of.

Donlin Gold 2023 Outlook

The 2023 finances for Donlin Gold (on a 100% foundation) is about at roughly $34 million, cut up equally between the 2 homeowners. The 2023 work program will enable Donlin Gold to advance engineering actions, geologic modelling and interpretation work, present permits, fieldwork for the Alaska Dam Security certificates, environmental research, and neighborhood relations and authorities affairs actions.

The homeowners will proceed to progress the Donlin Gold challenge as they’ve accomplished persistently thus far in a financially disciplined method and with a concentrate on a robust security tradition, environmental stewardship, engineering excellence, and energetic neighborhood engagement.

About Donlin Gold

The Donlin Gold challenge is positioned in Alaska, the second largest gold-producing state in the US. With roughly 39 million ounces of gold grading 2.24 grams per tonne within the measured and indicated mineral useful resource classes (100% foundation) ¹ , Donlin Gold hosts one of many largest and highest-grade undeveloped open-pit gold endowments on the earth. The deliberate pits by which the prevailing sources are sited occupy solely three kilometers of an eight-kilometer mineralized belt, which itself is positioned on lower than 5% of Donlin Gold’s land place. Present actions at Donlin Gold are targeted on the drill program, optimization efforts, neighborhood outreach, and advancing the remaining State allowing actions.

Donlin Gold is a dedicated companion to the Alaska Native communities each surrounding the challenge and throughout the State as a complete. This dedication underpins our strategy and can also be mirrored in the way in which by which the asset itself is structured. An vital issue that distinguishes the Donlin Gold challenge from most different mining belongings in Alaska is that the challenge is positioned on non-public land designated for mining actions underneath the 1971 Alaska Native Claims Settlement Act (ANCSA). Donlin Gold has entered into life-of-mine agreements with Calista, which owns the subsurface mineral rights and a few floor land rights, and TKC, a set of ten village firms, which owns the vast majority of floor land rights. Donlin Gold is dedicated to offering employment alternatives, scholarships, and preferential contract issues to Calista and TKC shareholders. The life-of-mine agreements embrace a revenue-sharing construction established within the context of the ANCSA, which resolved Alaska Homeland claims and allotted some 44 million acres of land to be used by Alaska Native Companies. Moreover, our long-term dedication to financial improvement within the Y-Okay area is exemplified by Donlin Gold’s help of TKC’s initiative to launch vitality and infrastructure initiatives in center Kuskokwim villages. These partnerships, actions, and applications are illustrative of Donlin Gold’s dedication to sustainable and accountable improvement of the challenge for the good thing about all stakeholders.

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¹ Donlin Gold knowledge as per the 2021 Technical Report and S-Okay 1300 Report (each as outlined herein). Donlin Gold possesses Measured Assets of roughly 8 Mt grading 2.52 g/t and Indicated Assets of roughly 534 Mt grading 2.24 g/t, every on a 100% foundation and inclusive of Mineral Reserves, of which roughly 4 Mt of Measured Assets and roughly 267 Mt of Indicated Assets inclusive of Reserves is attributable to NOVAGOLD by means of its 50% possession curiosity in Donlin Gold LLC. Unique of Mineral Reserves, Donlin Gold possesses Measured Assets of roughly 1 Mt grading 2.23 g/t and Indicated Assets of roughly 69 Mt grading 2.44 g/t, of which roughly 0.5 Mt of Measured Assets and roughly 35 Mt of Indicated Assets unique of Mineral Reserves is attributable to NOVAGOLD. Mineral Assets have been estimated in accordance with NI 43-101 and S-Okay 1300.

FIGURE 1 Drill Gap Collar Areas

A photograph accompanying this announcement is accessible at https://www.globenewswire.com/NewsRoom/AttachmentNg/c5bebed0-c8da-47fd-9075-e931799b8c0c

QA/QC Procedures

The QA/QC procedures for the 2022 Donlin Gold challenge drill program and sampling protocol have been developed and managed by Donlin Gold and overseen by Barrick and NOVAGOLD. The chain of custody from the drill website to the pattern preparation facility was constantly monitored. All samples are HQ-diameter core. Roughly 95% core restoration has been achieved throughout the 2022 drill program. Core was logged, reduce, and sampled at website by Donlin Gold workers. The 43 Lewis grid infill drill holes have been sampled as whole-core. Samples have been primarily collected on one- to two-meter lengths. Sampled half- and whole-core have been crushed in Bureau Veritas’ Juneau and Fairbanks, Alaska pattern preparation amenities. Crushed samples have been despatched to Bureau Veritas’ lab in Vancouver, British Columbia for pulverizing and gold assays and pulverized splits to an ALS Restricted lab in Vancouver, British Columbia for multi-element evaluation. High quality management samples have been inserted (requirements at 5% of major samples, blanks at 5% of major samples and duplicates at 2.5% of major samples) into every batch of samples. The evaluation of the standard management samples didn’t point out any bias or error. Out of bounds high quality management samples have been dealt with with applicable reruns and investigations. There are not any identified elements that may materially have an effect on the accuracy or reliability of the drill program knowledge referred to on this media launch.

Downhole directional surveys have been accomplished on all reported accomplished holes by Boart Longyear drill operators, and collar surveys have been accomplished by Donlin Gold employees underneath the supervision of Skilled Licensed Surveyors from Brice Engineering LLC.

Every of Bureau Veritas, ALS Restricted, Boart Longyear, and Brice Engineering LLC are unbiased of Donlin Gold, Barrick, and NOVAGOLD.

Scientific and Technical Data

In 2020, NOVAGOLD engaged Wooden Canada Restricted (“Wooden”) to replace the Second Up to date Feasibility Research on Donlin Gold accomplished in 2011 (the “2011 Technical Report”). This replace resulted in a report titled “NI 43-101 Technical Report on the Donlin Gold Challenge, Alaska, USA” with an efficient date of June 1, 2021 (the “2021 Technical Report”). In 2021, NOVAGOLD additionally engaged Wooden to arrange a Donlin Gold technical report abstract in accordance with Subpart 229.1300 of Regulation S-Okay – Disclosure by Registrants Engaged in Mining Operations (“S-Okay 1300”) as of November 30, 2021. The ensuing report is titled “S-Okay 1300 Technical Report Abstract on the Donlin Gold Challenge, Alaska, USA” (“S-Okay 1300 Report”), present as of November 30, 2021. Wooden integrated 2020 prices and new gold value steerage to satisfy NOVAGOLD’s reporting necessities. The resultant 2021 Technical Report and S-Okay 1300 Report confirmed no materials change to the beforehand reported mineral sources or mineral reserves.

NOVAGOLD is a registrant with the SEC and is reporting its Mineral Assets and Mineral Reserves in accordance with S-Okay 1300 as of November 30, 2021. Whereas the S-Okay 1300 guidelines are much like Nationwide Instrument 43-101 Requirements of Disclosure for Mineral Tasks (“NI 43-101”) guidelines in Canada, they aren’t similar and subsequently two experiences have been produced for the Donlin Gold challenge.

Sure scientific and technical data contained herein with respect to the Donlin Gold challenge is derived from the 2021 Technical Report and the S-Okay 1300 Report. Henry Kim, P.Geo., Senior Useful resource Geologist, Wooden Canada Restricted; Mike Woloschuk, P.Eng., VP International Enterprise Growth & Consulting, Wooden Group USA, Inc.; and Kirk Hanson, MBA, P.E., Technical Director, Open Pit Mining, Wooden Group USA, Inc. are the Certified Individuals accountable for the preparation of the 2021 Technical Report, and every is an unbiased Certified Individual as outlined by Nationwide Instrument 43-101 (“NI 43-101”). Wooden ready the S-Okay 1300 Report.

Paul Chilson, P.E., Supervisor of Mine Engineering for NOVAGOLD and a Certified Individual underneath NI 43-101, has authorized and verified the scientific and technical data associated to the 2021 and 2022 Donlin Gold challenge drill applications, the 2021 Technical Report and the S-Okay 1300 Report contained on this media launch. To confirm the knowledge associated to the drilling applications, he has visited the property previously yr; mentioned logging, sampling, and pattern delivery processes with accountable website employees; mentioned and reviewed assay and QA/QC outcomes with accountable personnel; and reviewed supporting documentation, together with drill gap location and orientation and important assay interval calculations.

Octavia Bathtub, P.Geo., Barrick Mineral Useful resource Supervisor and a Certified Individual underneath NI 43-101, has reviewed and authorized the assay outcomes for the Donlin Gold challenge contained on this media launch.

Barrick Contacts:
Kathy du Plessis
Investor and Media Relations
+44 20 7557 7738
Electronic mail: barrick@dpapr.com

Kevin Annett
CFO, North America
Tel: +1 416-307-3660
www.barrick.com

NOVAGOLD Contacts:

Mélanie Hennessey
Vice President, Company Communications
Tel: +1 604-669-6227 or 1-866-669-6227
Electronic mail: information@novagold.com
www.novagold.com

Cautionary Observe Concerning Ahead-Trying Statements

This media launch consists of sure “forward-looking data” and “forward-looking statements” (collectively “forward-looking statements”) throughout the which means of relevant securities laws, together with the US Non-public Securities Litigation Reform Act of 1995. Ahead-looking statements are often, however not all the time, recognized by phrases similar to “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “doable”, and comparable expressions, or statements that occasions, situations, or outcomes “will”, “could”, “might”, “would” or “ought to” happen or be achieved. Ahead-looking statements are essentially primarily based on a number of opinions, estimates and assumptions that administration of Barrick and NOVAGOLD thought of applicable and cheap as of the date such statements are made, are topic to identified and unknown dangers, uncertainties, assumptions, and different elements that will trigger the precise outcomes, exercise, efficiency, or achievements to be materially totally different from these expressed or implied by such forward-looking statements. All statements, aside from statements of historic truth, included herein are forward-looking statements. These forward-looking statements embrace statements relating to assay outcomes; the anticipated timing of a call by the Board of Donlin Gold whether or not to arrange a feasibility examine replace; anticipated advantages from latest drill applications together with an improved geological mannequin for the Donlin Gold challenge; the persevering with priorities of Donlin Gold, together with the well being and security of our individuals; ongoing help offered to key stakeholders together with Native Company companions; the potential impression of the coronavirus world pandemic (COVID-19) on the event of the Donlin Gold challenge; the potential improvement and development of Donlin Gold; the sufficiency of funds to proceed to advance improvement of the Donlin Gold challenge; perceived advantage of properties; mineral reserve and useful resource estimates; Donlin Gold’s capacity to safe the permits wanted to assemble and function the Donlin Gold challenge in a well timed method, if in any respect; and authorized challenges to Donlin Gold’s present permits. As well as, any statements that consult with expectations, intentions, projections or different characterizations of future occasions or circumstances are forward-looking statements. Ahead-looking statements should not historic info however as an alternative symbolize the administration expectations of Donlin Gold’s, Barrick’s and NOVAGOLD’s estimates and projections relating to future occasions or circumstances on the date the statements are made. Vital elements that would trigger precise outcomes to vary materially from expectations embrace the necessity to get hold of further permits and governmental approvals; the timing and probability of securing permits; the necessity for extra financing to discover and develop properties and availability of financing within the debt and capital markets; the unfold and impression of COVID-19; uncertainties concerned within the interpretation of drill outcomes and geological exams and the estimation of reserves and sources; exploitation and exploration successes; the result of authorized challenges to Donlin Gold’s permits; modifications in nationwide and native authorities laws, taxation, controls or laws and/or modifications within the administration of legal guidelines, insurance policies and practices, expropriation or nationalization of property and political or financial developments in the US or Canada; the necessity for continued cooperation between Barrick and NOVAGOLD for the continued exploration, improvement and eventual development of the Donlin Gold challenge; the necessity for cooperation of presidency businesses and native teams within the improvement and operation of properties; dangers of development and mining initiatives similar to accidents, gear breakdowns, dangerous climate, illness pandemics, non-compliance with environmental and allow necessities, unanticipated variation in geological buildings, ore grades or restoration charges; sudden price will increase, which might embrace important will increase in estimated capital and working prices; fluctuations in metallic costs and forex change charges; whether or not a optimistic development choice can be made relating to Donlin Gold; and different dangers and uncertainties disclosed in Barrick’s most up-to-date Type 40-F/Annual Data Type on file with the US Securities and Alternate Fee (SEC) and Canadian provincial securities authorities, and NOVAGOLD’s most up-to-date experiences on Varieties 10-Okay and 10-Q, significantly the “Threat Components” sections of these experiences and different paperwork filed by Barrick and NOVAGOLD with relevant securities regulatory authorities once in a while. Copies of those filings could also be obtained by visiting NOVAGOLD’s web site at www.novagold.com, Barrick’s web site at www.barrick.com, or the SEC’s web site at www.sec.gov, or at www.sedar.com. The forward-looking statements contained herein mirror the beliefs, opinions, and projections of Donlin Gold, NOVAGOLD, and Barrick on the date the statements are made. Donlin Gold, NOVAGOLD and Barrick assume no obligation to replace the forward-looking statements of beliefs, opinions, projections, or different elements, ought to they modify, besides as required by legislation.

APPENDIX

TABLE 1
Drill Gap Orientations* and Depths

* Observe that azimuth and inclination values fluctuate as every gap progresses. The said values are gap averages, rounded to the closest diploma.

TABLE 2
2022 Donlin Gold Vital Assay Intervals