NOVAGOLD Appoints New Member to Board of Directors
VANCOUVER, British Columbia — NOVAGOLD RESOURCES INC. (“NOVAGOLD” or the “Company”) (NYSE American, TSX: NG) is excited to announce the addition of Ali Erfan to its Board of Directors, effective immediately. This appointment comes as a result of the recent departure of director Diane Garrett, creating opportunity for fresh perspectives and leadership.
Welcoming Ali Erfan
Dr. Thomas S. Kaplan, NOVAGOLD's Chairman, expressed his enthusiasm regarding Mr. Erfan's appointment. “We are thrilled to welcome Ali, who brings a wealth of knowledge and experience to NOVAGOLD,” he stated. Mr. Erfan has had a distinguished career, serving as Vice-Chairman at The Electrum Group, an influential investment advisor and major shareholder in NOVAGOLD, known for its substantial investments in precious metals mining.
Experience and Expertise
Mr. Erfan has an impressive background in capital markets and the mining industry, having joined Electrum in 2007. His notable achievements include being a founding board member of Leor Energy, a North American natural gas producer that was sold for $2.6 billion. He also contributed significantly to Gatos Silver during its IPO and merger phases. His current board positions extend to Gabriel Resources Ltd. (TSX-V: GBU.V) and Electrum’s two privately held silver entities — Sunshine Silver Mining & Refining and Sinda.
Mr. Erfan's Journey
Before joining Electrum, Mr. Erfan was a senior partner at 3i Group plc, one of the most celebrated private equity and venture capital firms. His earlier career included investments in several early-stage technology companies that successfully navigated IPOs and mergers across various international markets, such as HTE, Insensys, Smart Fuel Cells, and CSR.
Academic Qualifications
Ali Erfan holds a BA and an MA in Philosophy, Politics, and Economics from the University of Oxford, along with an MBA from the London Business School. He is also a member of the distinguished Kauffman Fellows Class 10, reflecting his commitment to excellence in entrepreneurship and investment.
About NOVAGOLD
NOVAGOLD is committed to developing the Donlin Gold project in Alaska, recognized as one of the safest mining jurisdictions globally. The project boasts approximately 39 million ounces of gold classified under Measured and Indicated Mineral Resources, along with Proven and Probable Mineral Reserves. With 541 million tonnes at an average gold grade of approximately 2.24 grams per tonne, Donlin Gold stands as one of the largest open-pit gold deposits globally.
Future of Donlin Gold
According to industry reports, once operational, the Donlin Gold project is projected to produce over one million ounces of gold annually for an estimated 27-year lifespan. This significant production capacity underscores NOVAGOLD's role in the precious metals sector and its contribution to sustainable mining practices.
NOVAGOLD Contacts
Mélanie Hennessey
Vice President, Corporate Communications
Frank Gagnon
Manager, Investor Relations
604-669-6227 or 1-866-669-6227
info@novagold.com
www.novagold.com
Frequently Asked Questions
Who is the new board director at NOVAGOLD?
The new board director is Ali Erfan, appointed to fill the vacancy left by Diane Garrett.
What is Ali Erfan's background?
Ali Erfan has extensive experience in capital markets, investment, and the mining industry, serving in various leadership roles throughout his career.
What is the Donlin Gold project?
The Donlin Gold project is NOVAGOLD's primary asset, recognized as one of the biggest and most high-grade open-pit gold deposits worldwide.
How much gold does the Donlin project have?
The project is estimated to possess around 39 million ounces of gold in Measured and Indicated categories, along with significant Proven and Probable Mineral Reserves.
How can I contact NOVAGOLD?
You can reach NOVAGOLD through their Investor Relations at 604-669-6227 or via email at info@novagold.com.
