NovaGold Names New Board Member, Ali Erfan, Following Departure of Diane Garrett.

NovaGold Resources Inc. has appointed Ali Erfan to its board, filling the vacancy left by Diane Garrett's departure. Erfan brings extensive experience in the precious metals mining industry, having served as Vice-Chairman of Electrum Group and investment adviser to Electrum Strategic Resources. He has also served on the boards of Gatos Silver and Gabriel Resources Ltd., and holds an MBA from the London Business School.

NovaGold Resources Inc. has appointed Ali Erfan to its board of directors, effective immediately, to fill the vacancy left by the departure of Diane Garrett. The appointment was approved by the company’s board and announced on July 21, 2025.

Ali Erfan brings extensive experience in the precious metals mining industry. He has served as Vice-Chairman of The Electrum Group and as an investment adviser to Electrum Strategic Resources, the largest shareholder of NovaGold. Erfan has also held board positions at Gatos Silver and Gabriel Resources Ltd. Prior to joining Electrum, he was a senior partner at 3i Group plc’s London headquarters, one of the world’s most prominent listed private equity and venture capital investment companies. Erfan holds an MBA from the London Business School and is a member of the Kauffman Fellows Class 10.

Dr. Thomas S. Kaplan, Chairman of NovaGold, expressed his pleasure with Erfan’s appointment, stating, “Mr. Erfan brings a wealth of knowledge and experience as a long-standing Vice-Chairman of The Electrum Group. I also wish to extend my deepest appreciation to Diane Garrett for her valued guidance and significant contributions to the Company over her seven years of committed service.”

NovaGold is a well-financed precious metals company focused on the development of the Donlin Gold project in Alaska, one of the safest mining jurisdictions in the world. The project is expected to produce an average of more than one million ounces per year over a 27-year mine life on a 100% basis, with approximately 39 million ounces of gold in the Measured and Indicated Mineral Resource categories.

References:
[1] https://novagold.com/novagold-announces-appointment-of-new-director/