NOVAGOLD Increases Previously Announced Bought Deal Financing to US$300 Million

Core Viewpoint - NOVAGOLD Resources Inc. has announced an increase in the size of its bought deal private placement to 30 million common shares at a price of US$10.00 per share, aiming for gross proceeds of approximately US$300 million, with a cornerstone order of US$140 million from a European institution [1][2]. Group 1: Offering Details - The offering will consist of 30 million common shares priced at US$10.00 each, resulting in gross proceeds of about US$300 million [1]. - An over-allotment option has been granted to underwriters, allowing them to purchase an additional 15% of the shares for up to approximately US$45 million, potentially raising total gross proceeds to about US$345 million [1]. - The expected closing date for the offering is on or about February 5, 2026, pending necessary regulatory approvals [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated for expenditures related to Donlin Gold activities, settlement of a promissory note with Barrick Mining Corporation, and general corporate purposes [2]. Group 3: Company Overview - NOVAGOLD is focused on the development of the Donlin Gold project in Alaska, which is recognized as one of the largest and highest-grade open-pit gold deposits globally, with approximately 40 million ounces of gold in the Measured and Indicated Mineral Resource categories [6]. - The Donlin Gold project is projected to produce over one million ounces of gold annually over a 27-year mine life once in production [6].