NOVAGOLD Provides Update on Donlin Gold Infrastructure and Energy Supply With Initial Glenfarne Letter of Intent

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].