Ali Erfan

Mr. Erfan is a seasoned executive with deep expertise in capital markets, private equity, and resource development. He joined the Board of NOVAGOLD Resources Inc. in July 2025 and currently serves as Vice-Chairman of The Electrum Group, an investment adviser to Electrum Strategic Resources—NOVAGOLD’s largest shareholder and a global leader in precious metals mining.

Mr. Erfan has been a key figure at Electrum since 2007, following his successful role as founding board member of Leor Energy, a natural gas startup that was sold to Encana for $2.6 billion. His board experience includes Gatos Silver, Inc. (May 2019 to January 2015) from IPO through its merger with First Majestic Silver Corp., Gabriel Resources Ltd. (June 2019 to present), and Electrum’s privately held silver ventures, Sunshine Silver Mining & Refining and Sinda, Ltd.

Earlier in his career, Mr. Erfan was a senior partner at 3i Group plc’s London headquarters and helped launch several early-stage technology companies that went on to IPOs or strategic exits, including HTE, Insensys, Smart Fuel Cells, and CSR. He holds a BA and MA in Philosophy, Politics and Economics from Oxford University, an MBA from London Business School, and is a member of Kauffman Fellow (Class 10).

The Board has determined that Mr. Erfan should serve as a Director to benefit from his experience as a director of various mining and investment companies, as well as his expertise in the areas of capital markets, private equity and resource development.

Areas of expertise include: capital markets, private equity and resource development.