NOVAGOLD Files 2025 Fiscal Year Report, Acquires 50% Stake in Donlin Gold

NOVAGOLD RESOURCES filed its 2025 fiscal year-end report and provided an update on its Tier One gold development project, Donlin Gold, which is owned 60% by NOVAGOLD and 40% by DGH. Highlights: Completed a landmark $1B transaction on June 3, to acquire Barrick Mining Corporation's 50% interest in Donlin Gold - NOVAGOLD increased its ownership to 60% by acquiring an additional 10% for $200 million, while Donlin Gold Holdings, 100% wholly-owned by Paulson Advisers and its affiliates, acquired a 40% interest for $800less than. Donlin Gold issued a Request for Proposals for its Bankable Feasibility Study to top-tier engineering firms with the expertise to design what is expected to be the largest single gold mine in the United States. Proposals were received in October, and the Prime Contractor is expected to be selected in the first quarter of 2026. Additional RFPs were issued in the fourth quarter of 2025 for specialist contractors for the power plant, pipeline, and pressure oxidation and oxygen plant scopes of work. Hired Frank Arcese as the Project Director for Donlin Gold to lead efforts on the BFS. He has over 40 years of experience working on major mining projects in the United States and international jurisdictions. Completed the 18,454-meter 2025 drill program which delivered high-grade intercepts, across multiple zones, including standout intervals up to 26.22 g/t gold4 - further supporting Donlin Gold's position as one of the largest and highest-quality known gold projects globally. Held site tours with stakeholders, investors, and analysts, followed by the owners' visit which included meetings with landowners, government agencies, engineering firms, logistics providers and other pivotal parties with the capacity and experience to support critical project infrastructure as Donlin Gold advances the BFS and development activities after its construction decision. Conducted senior-level meetings and site visits with Yukon-Kuskokwim region communities, Alaska representatives, and partners - met with Alaska Congressional delegation and industry officials in Washington, D.C. and finalized two additional Shared Values Statements. Advanced restoration efforts at Snow Gulch, a tributary of Donlin Creek historically mined for placer gold, to restore natural habitat conditions that support aquatic life. Donlin Gold's board approved a 2026 budget of $131.4M on a 100% basis, comprising advancement of the BFS, maintaining existing permits and securing outstanding permits, supporting government affairs activities, strengthening community relations, workforce development, environmental initiatives and exploration.