NovaGold Resources (NYSEAM:NG) Q4 2025 Earnings call January 22, 2026 11:00 AM ET Speaker1Thank you for standing by. This is the conference operator. Welcome to NovaGold's 2025 Year-End Reports conference call and webcast. As a reminder, all participants are in listen-only mode. The conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star then one on your telephone keypad. Should you need assistance during the confere ...

Dr. Thomas S. Kaplan Chairman Year-End Financials Peter Adamek Vice President & Chief Financial Officer Current Activities and Outlook 2025 Year-End Report & Donlin Gold Update January 22, 2026 TSX, NYSE AMERICAN: NG | NOVAGOLD.COM 2025 YEAR-END WEBCAST & CONFERENCE CALL AGENDA Introduction Mélanie Hennessey Vice President, Corporate Communications Building The Path To America's Largest Gold Mine Greg Lang President & Chief Executive Officer 2 NOVAGOLD | Year-End Report and Donlin Gold Update Generational a ...

EXHIBIT 99.1 NOVAGOLD Files 2025 Year-End Report Landmark Transaction Positions Donlin Gold as the Next Generational Project Primed for Development VANCOUVER, British Columbia, Jan. 22, 2026 (GLOBE NEWSWIRE) -- NOVAGOLD RESOURCES INC. ("NOVAGOLD" or "the Company") (NYSE American, TSX: NG) today 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. Details of the financial results for the year ended N ...

Core Viewpoint - NOVAGOLD Resources Inc. has reported significant advancements in its Donlin Gold project, including a transformative acquisition and progress towards a Bankable Feasibility Study (BFS), positioning the project as a potential leader in the U.S. gold mining sector [7][12][38] Financial Results - As of November 30, 2025, NOVAGOLD held approximately $115.1 million in cash and term deposits, with net annual cash expenditures of $36.5 million, primarily for the Donlin Gold project and corporate costs [3][39] - The company reported a net loss of $94.7 million for the fiscal year 2025, largely due to a non-cash charge related to warrants and increased field expenses at Donlin Gold [4][39] - Cash generated from financing activities increased by $259.7 million, primarily due to proceeds from a public equity offering and private placement [41] Project Development - NOVAGOLD completed a $1 billion acquisition of Barrick Mining's 50% interest in Donlin Gold, increasing its ownership to 60% [5][12] - The company has initiated a BFS for Donlin Gold, with proposals received from engineering firms and a prime contractor expected to be selected in early 2026 [17][18] - An 18,454-meter drill program was completed, yielding high-grade gold intercepts, further supporting the project's potential [22] Resource and Exploration - Donlin Gold has approximately 40 million ounces of Measured and Indicated Mineral Resources at an average grade of 2.22 grams per tonne, significantly higher than the industry average [16][56] - The project is recognized for its scale, high-grade mineralization, and potential for resource expansion, with less than 5% of the land package explored to date [16][22] Community and Stakeholder Engagement - Extensive engagement with local communities and stakeholders has been conducted, reinforcing relationships and supporting project development [23][24] - The company has actively participated in community initiatives and environmental stewardship programs, enhancing its social license to operate [28][30] Regulatory and Permitting Progress - The Alaska Supreme Court affirmed the issuance of water rights permits for the Donlin Gold project, validating the state's review process [32] - Ongoing efforts to maintain and secure permits are in place, with a focus on regulatory compliance and stakeholder collaboration [31][35] 2026 Outlook - The board approved a 2026 budget of $131.4 million, focusing on advancing the BFS, maintaining permits, and enhancing community relations [36][42] - Anticipated expenditures include $78.8 million for the Donlin Gold project and $19.7 million for corporate costs [42]

Health and Safety - In 2025, NOVAGOLD's Donlin Gold project had no recordable injuries or lost time incidents, reflecting a strong commitment to health and safety[50] Financials and Budget - The fiscal 2026 budget for Donlin Gold is set at $131.4 million, with NOVAGOLD's share being $78.8 million, aimed at advancing the Bankable Feasibility Study (BFS) and securing permits[54] - A 1% change in the U.S. prime rate would result in an increase or decrease of approximately $1.7 million in interest accrued on the promissory note owed to Barrick per annum[476] Project Development - A Request for Proposals (RFP) for a BFS was issued to top-tier engineering firms, with proposals received in October 2025 and a contractor expected to be selected in Q1 2026[51] - An 18,454-meter drill program was completed in 2025, focusing on mine planning, geological modeling, and resource conversion[51] - Frank Arcese was hired as Project Director for Donlin Gold, bringing over 40 years of experience in large-scale mining projects[52] - The company is actively recruiting for critical positions to support the advancement of the BFS and project development[52] Community and Environmental Initiatives - NOVAGOLD has engaged in community and environmental initiatives, including meetings with local stakeholders and government officials to discuss project priorities[53] - Environmental efforts include channel restoration work at Snow Gulch to support aquatic life and restore natural habitat conditions[53] Market Conditions - The average gold price in 2025 was $3,436 per ounce, with a high of $4,482 and a low of $2,632[64]

Group 1 - NovaGold Resources Inc. (NYSE:NG) is rated a Buy by all five analysts covering the stock, with a median price target of $12.50, indicating a potential upside of approximately 24% as of January 9 [1] - Over the past six months, NovaGold shares have increased by over 127% [1] - The company holds a 60% stake in Donlin Gold LLC, which has signed a non-binding Letter of Intent (LOI) with Glenfarne Alaska LNG for a natural gas and power supply arrangement for the Donlin Gold mine project [2][4] Group 2 - The LOI states that Glenfarne Alaska will supply up to 50 million cubic feet of natural gas per day to support the development and construction of the Donlin Gold pipeline [3] - The pipeline will connect Southcentral Alaska to the mine site, providing electricity to the mine [3] - NovaGold's President and CEO, Greg Lang, highlighted the advantages of using natural gas from Alaska LNG, including reduced fuel costs and optimized logistics [3] Group 3 - The companies have obtained primary state and federal permits for the pipeline route, and a supplemental environmental review is currently underway [3] - Donlin Gold is also working on its Bankable Feasibility Study, with contractor selection expected in the first half of 2026 [3]

Core Viewpoint - NOVAGOLD Resources Inc. has appointed Frank Arcese as Project Director for Donlin Gold LLC, enhancing the team's capabilities as they prepare to initiate the Bankable Feasibility Study (BFS) and advance the project towards development [1][4]. Company Overview - NOVAGOLD is a well-financed precious metals company focused on the development of the Donlin Gold project, which is owned 60% by NOVAGOLD and 40% by Paulson Advisers LLC, located in Alaska, a highly regarded mining jurisdiction [5][6]. - The Donlin Gold project is recognized as one of the largest and highest-grade open-pit gold deposits globally, with approximately 39 million ounces of gold in the Measured and Indicated Mineral Resource categories, and an expected production of over one million ounces per year over a 27-year mine life [5][11]. Appointment of Frank Arcese - Frank Arcese brings over 40 years of global project leadership experience, having previously served as Capital Projects Business Leader for North American mining operations at WSP Global Inc. and as Project Director for various large mining and power plant projects for Rio Tinto [2][3]. - His expertise includes feasibility planning, project execution strategy, risk management, and building high-performance teams, which will be crucial for the successful advancement of the Donlin Gold project [3][4]. Project Development Focus - In his new role, Arcese will oversee project planning, execution strategy, organizational readiness, and alignment with NOVAGOLD's long-term objectives for Donlin Gold [4]. - The company aims to ensure technical rigor, collaboration, and disciplined planning as they move towards a construction decision for the project [4]. Resource and Reserve Estimates - Donlin Gold possesses Measured Resources of approximately 8 million tonnes grading 2.52 grams per tonne and Indicated Resources of approximately 534 million tonnes grading 2.24 grams per tonne, with significant portions attributable to NOVAGOLD [11]. - Proven Reserves are approximately 8 million tonnes grading 2.32 grams per tonne, and Probable Reserves are approximately 497 million tonnes grading 2.08 grams per tonne, each on a 100% basis [11]. Market Position - According to the Fraser Institute's 2024 Annual Survey of Mining Companies, Alaska ranks 3rd globally on the Investment Attractiveness index, highlighting the favorable conditions for mining investments in the region [10].

Core Viewpoint - NOVAGOLD Resources Inc. has signed a non-binding Letter of Intent with Glenfarne Alaska LNG for natural gas supply to the Donlin Gold project, which is expected to enhance the project's economic viability and operational efficiency [1][2][3]. Company Overview - NOVAGOLD is focused on developing the Donlin Gold project in Alaska, which is one of the largest and highest-grade undeveloped gold deposits globally, with approximately 39 million ounces of gold in the Measured and Indicated Mineral Resource categories [6][7]. Natural Gas Supply Agreement - The LOI outlines a potential natural gas sales agreement for up to 50 million cubic feet of natural gas per day, aimed at powering the proposed mine and optimizing logistics and costs [2][3]. - Glenfarne's experience in global energy solutions is expected to provide a long-term energy solution for the Donlin Gold project, potentially lowering energy costs for Alaskan consumers [3]. Pipeline Development - The proposed natural gas pipeline will extend 316 miles from an existing pipeline near Beluga, Alaska, to the Donlin Gold mine site, with key federal and state permits already issued [4]. - The Alaska Department of Natural Resources' issuance of the pipeline right-of-way lease has been upheld by the State of Alaska Supreme Court, facilitating the ongoing environmental review process [4]. Feasibility Study Progress - Donlin Gold is advancing the selection of a prime contractor for the Bankable Feasibility Study (BFS), with proposals received from leading engineering firms [5]. - A prime contractor is expected to be selected in the first quarter of 2026, with a detailed timeline and budget for the BFS to be established thereafter [5]. Mineral Resource and Reserve Estimates - The Donlin Gold project is estimated to produce over one million ounces of gold annually over a 27-year mine life once in production, with Proven and Probable Reserves of approximately 8 million tonnes grading 2.32 grams per tonne and 497 million tonnes grading 2.08 grams per tonne, respectively [7][11].

Core Viewpoint - NOVAGOLD Resources Inc. is set to release its 2025 year-end report on January 22, 2026, before market opening, followed by a conference call and video webcast to discuss the results [1][2]. Group 1: Company Activities - The conference call will feature updates from NOVAGOLD's Chairman, Dr. Thomas S. Kaplan, and President and CEO, Greg Lang, covering the Company's 2025 activities, including progress towards the Bankable Feasibility Study and the 2025 Donlin Gold drill program [2]. - The Company will also discuss community outreach and environmental initiatives during the webcast [2]. Group 2: Financial Results - Peter Adamek, Vice President and CFO, will present a summary of NOVAGOLD's year-end financial results during the conference call [2]. Group 3: Communication and Access - Questions can be submitted prior to the call via email, and there will be an opportunity for live questions during the webcast [3]. - The video webcast will be archived on NOVAGOLD's website for one year, and a transcript of the call will be available for download [3].

Core Insights - NOVAGOLD Resources Inc. announced significant advancements in the Donlin Gold project, including final assay results from the 2025 drill program and key permitting milestones [1][2] - The 2025 drill program has exceeded expectations, providing critical data for the upcoming Bankable Feasibility Study (BFS) expected to start in Q1 2026 [2][3] - The project has achieved acceptance into the FAST-41 program, enhancing the transparency and predictability of the federal permitting process [1][11] - A favorable ruling from the Alaska Supreme Court has affirmed the project's water rights and the approval of the State Right-Of-Way lease for a proposed natural gas pipeline [1][14] Drilling Program Results - The 2025 Donlin Gold drill program focused on refining mine-planning inputs, enhancing geological modeling, and conducting geotechnical assessments [3][4] - High-grade gold intercepts were reported, with standout intervals including 26.22 g/t gold, reinforcing the project's status as one of the largest and highest-quality gold projects globally [4][5] - The program included 19 infill holes and 24 in-pit exploration holes, totaling over 15,000 meters drilled, aimed at improving resource confidence and mine planning [9][10] Permitting Milestones - The acceptance into the FAST-41 program is expected to streamline the permitting process, ensuring defined timelines and coordination among federal agencies [11][12] - The Alaska Supreme Court's ruling supports the project's water rights and the natural gas pipeline lease, validating the thorough review process by the State of Alaska [14][15] - The project has been engaged in permitting for over a decade and has received most of its state and federal permits, positioning it as a key economic development project in Alaska [13][14] Future Developments - The BFS Request for Proposals was issued in Q3 2025, with plans to select a top-tier engineering firm to lead the BFS in the coming months [16] - The comprehensive data from the 2025 drill program will strengthen the foundation for mine planning and resource modeling [16] - The strategic alliance between Glenfarne Alaska LNG and Baker Hughes is expected to enhance Alaska's energy infrastructure, potentially benefiting the Donlin Gold project [17] Company Overview - NOVAGOLD is focused on developing the Donlin Gold project, which contains approximately 39 million ounces of gold in the Measured and Indicated Mineral Resource categories [24] - The project is anticipated to produce over one million ounces of gold annually over a 27-year mine life once in production [24]