NOVAGOLD Issues its 2021 Annual Report Featuring a Conversation Between Dr. Thomas Kaplan and John Hathaway

Press Release

• NOVAGOLD’s Chairman Dr. Thomas Kaplan and John Hathaway, portfolio manager of Sprott Hathaway Special Situations Strategy and co-portfolio manager of the Sprott Equity Fund, have a fireside discussion on a broad range of topics, including gold’s market trajectory, jurisdictional safety and cryptocurrencies.

• Our President and CEO Greg Lang summarizes NOVAGOLD’s many milestones reached in 2021, including the highly successful 79-hole 24,264-meter Donlin Gold drill program that yielded excellent high-grade assays, which Donlin Gold’s partners, Barrick and NOVAGOLD, have both stated constitute some of the best drill results for an open-pit gold project industry wide. Of great importance was the achievement of the highest safety standards on the property with no lost-time incidents on site and reinforcement of NOVAGOLD’s ESG principles with a particular emphasis on responsible mine development in the Yukon-Kuskokwim (Y-K) region.

VANCOUVER, British Columbia, March 31, 2022 NOVAGOLD RESOURCES INC. (“NOVAGOLD” or the “Company”) (NYSE American, TSX: NG) has published its 2021 Annual Report (the “annual report”).

This year’s annual report includes a special feature highlighting a discussion between NOVAGOLD’s Chairman Dr. Thomas Kaplan and John Hathaway, portfolio manager of Sprott Hathaway Special Situations Strategy and co-portfolio manager of the Sprott Gold Equity Fund. They discuss the gold market trajectory, jurisdictional safety and cryptocurrencies. Dr. Kaplan emphasizes NOVAGOLD’s unique position to significantly outperform its peer group, particularly in the current market environment. The interview was filmed at the New York Stock Exchange in December 2021 and a video of the conversation is available at www.novagold.com/media-gallery.

In the report, NOVAGOLD’s President and CEO Greg Lang summarizes many milestones that were achieved in 2021, including the advancement of our Donlin Gold project up the value chain against the backdrop of the global COVID-19 pandemic, with the highest safety standards and no lost-time incidents on site. Mr. Lang highlights the Company’s ESG principles, along with its strong time-tested relationships with the project’s Native Corporation partners – Calista Corporation and The Kuskokwim Corporation – with whom we are committed to responsible mine development in the Y-K region. In addition, Mr. Lang outlines the Company’s 2022 goals and budget, as well as reviews NOVAGOLD’s strong financial position.

The 2021 annual report is available on NOVAGOLD’s website https://www.novagold.com/investors/financials/.

If you would like to receive a hard copy by mail, please send an email request to info@novagold.com .

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

NOVAGOLD Contacts:

Mélanie Hennessey
Vice President, Corporate Communications

Allison Pettit
Manager, Communications
604-669-6227 or 1-866-669-6227

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