Name of the Project
Donlin gold project.

Location
Alaska, in the US.

Project Owner/s
Donlin Gold is equally owned by Canada-based miners Barrick Gold Corp and NovaGold Resources, while the land is owned by the Calista Corporation – a community organisation comprising the Kuskokwim Corporation (TKC) – and the mineral rights by Alaska Native corporation for the Yukon–Kuskokwim region .

Project Description
The Donlin gold (formerly Donlin Creek) project, as currently envisioned, will be one of only a handful of gold mines worldwide that produce more than one-million ounces of gold a year.

The 109 km2 Donlin Creek property, which is part of the Kuskokwim gold belt, is one of the largest undeveloped gold resources in the world, containing estimated proven and probable reserves of about 504.8-million ounces of gold at a grade of 2.09 g/t, and measured and indicated resources of 541.3-million ounces, as well as inferred resources of 92.2-million ounces of gold.

The project is expected to be capable of producing 1.5-million ounces of gold a year in the first five years of operation, and an average of 1.1-million ounces of gold a year over its projected 27-year mine life.

The project is also being updated to include power generation using natural gas delivered to the site through a 500 km pipeline from the Cook Inlet to the mine site.

Net Present Value/Internal Rate of Return
At a base case gold price of $1 200/oz, the Donlin feasibility study, which was last updated in 2011, calculated an internal rate of return of 6% and a net present value, at a 5% discount rate, of $547-million.

Potential Job Creation
Up to 3 000 jobs will be created during construction and up to 1 400 jobs during operation.

Capital Expenditure
Initial capital costs for the project in April 2009 were estimated at $4.5-billion. This has now been revised upwards to $6.7-billion.

Planned Start/End Date
Production is expected to begin in late 2017 or early 2018.

Latest Development
Donlin Gold has confirmed a follow-up drill programme for the project this year, following the strong outcome of its 2020 campaign.

Additional confirmation and extension drilling is planned, with specifics to be finalised once all assay results from the 2020 drill programme have been integrated into an interim model update.

Thereafter, the focus will shift to updating the feasibility study.

The company has said that the final assay results from the 2020 drill programme have exceeded expectations. Results have demonstrated a higher drilled grade-thickness than predicted by previous modelling.

Key Contracts, Suppliers and Consultants
SRK Consulting (technical report) and AMEC Americas (lead feasibility study consultant).

Contact Details for Project Information
Barrick Gold investor relations manager Joyce Davies, tel +1 416 307 7354, fax +1 416 861 0727 or email jdavies@barrick.com.
NovaGold Donlin Creek, tel +1 888 225 7590, fax +1 907 273 0201 or email info@donlincreek.com.
SRK Consulting, tel +1 907 677 3520, fax +1 907 677 3620 or email anchorage@srk.com.