NOVAGOLD completed a $1 billion transaction to acquire Barrick Mining Corporation’s 50% interest in Donlin Gold, increasing ownership to 60%. Requests for proposals were issued for a Bankable Feasibility Study for the largest single gold mine in the US. A $131.4 million budget for 2026 includes advancing the BFS and maintaining permits.

Frank Arcese was hired as Project Director for Donlin Gold, bringing over 40 years of experience in major mining projects. The 2025 drill program delivered high-grade intercepts, supporting Donlin Gold as a significant gold project globally. Restoration efforts at Snow Gulch continue to restore natural habitat conditions.

NOVAGOLD filed its 2025 fiscal year-end report, reporting $115.1 million in cash and term deposits as of November 30, 2025. The Company had net annual cash expenditures of $36.5 million, with earnings of ($94.7) million and earnings per share of ($0.25) for the year. The Company remains focused on advancing the Donlin Gold project.

The Donlin Gold project has advanced restoration efforts, conducted site tours, and engaged with stakeholders and government representatives. The Alaska Supreme Court affirmed the project’s water rights permits, allowing it to move forward responsibly. NOVAGOLD remains committed to supporting communities, culture, and environmental stewardship in the Y-K region.

NOVAGOLD’s outlook for 2026 includes anticipated expenditures of $98.5 million, with key activities such as selecting a prime contractor and commencing the BFS for the Donlin Gold project. The Company aims to maximize the project’s value, reach critical milestones, and continue to engage with stakeholders and government representatives to advance responsibly.

Read more at GlobeNewswire: NOVAGOLD Files 2025 Year-End Report Landmark Transaction