From GlobeNewswire: 2025-01-23 08:00:00

NOVAGOLD Resources Inc. filed its 2024 fiscal year-end report, reporting a treasury of $101 million in cash and term deposits as of November 30, 2024. The company reported net annual cash expenditures of $24.5 million, with earnings of ($45.6) million for the fiscal year.

Donlin Gold achieved key milestones in 2024, including completing metallurgical test work and advancing resource modeling. The project also collaborated on ecological, educational, and cultural awareness initiatives in the region. A budget of $43 million was approved for 2025, focusing on mine planning and community relations.

In 2024, Donlin Gold intensified efforts to monitor salmon fisheries in the region, launching a salmon smolt monitoring program on the George River. The project completed restoration work on the historic Lyman placer site and plans to start aquatic restoration work in Snow Gulch in 2025.

Donlin Gold received continued support from U.S. Senators and Representatives in 2024, with a joint amicus brief describing the project as one of Alaska’s most important economic development projects. The project also submitted preliminary design packages for Dam Safety Certification to the Alaska Department of Natural Resources.

NOVAGOLD views the Donlin Gold project as a rare investment opportunity, with over 39 million ounces of gold in Measured and Indicated Resources. The project is expected to be operationally cost-effective and has significant exploration potential. A budget of $43 million was approved for 2025 to advance key workstreams.

NOVAGOLD’s anticipated expenditure for fiscal year 2025 is approximately $37.5 million, with a focus on advancing the Donlin Gold project and maintaining stakeholder support. The company aims to continue delivering project milestones and preserving a healthy balance sheet.

NOVAGOLD and Barrick approved a budget of $43 million for Donlin Gold in 2025, focusing on mine planning, Dam Safety Certificate applications, and community relations. With a strong treasury, NOVAGOLD is well positioned to fund activities for at least the next two years at current spending levels.



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