Globenewswire·2026-02-09 13:00Core Viewpoint - NOVAGOLD and Donlin Gold Holdings have selected Fluor Corporation to lead the Bankable Feasibility Study (BFS) for the Donlin Gold project in Alaska, marking a significant step towards financing and development of the project [1][5]. Company Overview - NOVAGOLD is a well-financed precious metals company focused on the development of the Donlin Gold project, which is considered 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 [11]. - Donlin Gold Holdings, wholly owned by Paulson Advisers LLC, holds a 40% stake in the Donlin Gold project, sharing equal voting and operating control with NOVAGOLD [12]. Project Development - The BFS is being conducted with a disciplined approach, integrating scope, engineering, cost, and schedule to ensure a high-quality, investment-grade study, expected to be completed in 2027 [2][4]. - Fluor will coordinate with Specialist Contractors on key infrastructure components, including the power plant and natural gas pipeline, and will primarily conduct BFS work from its Canadian offices [4][6]. Next Steps - Requests for proposals for Specialist Contractors were issued in Q4 2025, covering essential project components that will be incorporated into the BFS [7]. - Management is actively recruiting for critical roles to build the owner's project team while advancing site activities, including geotechnical drilling and materials assessments [8][9]. Production Potential - The Donlin Gold project is anticipated to produce over one million ounces of gold annually over a 27-year mine life once in production [11].