GOLD: NovaGold updates permitting activities at Donlin

ALASKA – Vancouver’s NovaGold Resources, half owner of the Donlin gold project 450 km northwest of Anchorage, outlines the continued permitting activities for the development of an operation that will produce 1.1 million oz of gold annually. (The remaining 50% is owned by Barrick Gold of Toronto.) Work on permitting began in 2012, and the draft environmental impact statement was published last year. It is now in the hands of the US Army Corps of Engineers, that has been meeting with local communities to hear their comments on the Donlin project. The comment period has been extended by a month to May 31, 2016, and the Corps is expected to publish its review and responses to the comments in 2017. Meanwhile, the partnership continues to work with Alaska regulators on the numerous state permits required for the project. The Donlin gold deposit has proven and probable reserves of 504.8 million tonnes grading 2.09 g/t Au and containing 33.85 million oz of gold. The measured and indicated resource is 541.3 million tonnes (inclusive of reserves) grading 2.24 g/t Au as well as an inferred resource of 92.2 million tonnes grading 2.02 g/t Au. Details of the Donlin gold project are posted at www.NovaGold.com/properties/donlin_gold/overview/.