Vancouver, British Columbia — January 9, 2026 — Leads & Copy —
NOVAGOLD RESOURCES INC. (NYSE American, TSX: NG) has announced that Donlin Gold LLC, a company owned 60% by NOVAGOLD and 40% by Paulson Advisers LLC, has signed a non-binding Letter of Intent (LOI) with Glenfarne Alaska LNG, LLC, the majority owner and developer of the Alaska LNG Project. The LOI concerns natural gas supply from the Alaska LNG Pipeline and the development of infrastructure to power the proposed Donlin Gold mine.
Under the LOI, Glenfarne and Donlin Gold will continue to assess a potential natural gas sales agreement for up to 50 million cubic feet of natural gas per day. Both parties will also work together on the most effective method for the development and construction of the Donlin Gold natural gas pipeline.
The pipeline is planned to extend from Southcentral Alaska to the Donlin Gold project in Southwest Alaska and will supply a power plant to provide electricity to the proposed mine.
John Paulson, President of Paulson, stated that a reliable supply of natural gas from Alaska LNG could enhance the ability to unlock value in Donlin Gold. He added that Glenfarne’s energy experience is well-suited to provide a long-term energy solution.
Greg Lang, NOVAGOLD’s President and CEO, said that powering Donlin Gold with natural gas from Alaska LNG could offer advantages for the proposed mine and the Southwestern Alaska region. Aligning Alaska LNG and Donlin Gold’s pipeline schedules could reduce fuel costs, optimize transportation and logistics, streamline material procurement, and lower overall project expenses.
Glenfarne Alaska LNG President Adam Prestidge said that Alaska LNG offers low-cost natural gas that will enhance the economics and facilitate the development of energy-intensive mining projects in Alaska. He expressed confidence in the future success of Donlin Gold following the investment by Paulson. Prestidge added that as Alaska LNG continues to add more pipeline customers, the cost of gas for Alaskans will continue to decrease.
According to the 2021 Technical Report and the S-K 1300 Technical Report Summary, Donlin Gold envisions a buried, 316-mile natural gas pipeline from an existing 20-inch natural gas pipeline near Beluga, Alaska, to the Donlin Gold mine site. Key federal and state permits for the pipeline route have been issued, and the State of Alaska Supreme Court upheld the Alaska Department Natural Resources issuance of the pipeline right-of-way lease. Supplemental environmental review is ongoing under the Fixing America’s Transportation Act (“FAST-41”) program, coordinated by the Federal Permitting Improvement Steering Council, with the U.S. Army Corps of Engineers leading a court-directed Supplemental Environmental Impact Statement.
Donlin Gold is advancing the selection of a prime contractor for the Bankable Feasibility Study (BFS) and has received proposals from engineering firms. A prime contractor is expected to be selected in the first quarter of 2026. Requests for proposals have been issued for specialist contractors covering the power plant, pipeline, and pressure oxidation and oxygen plant scopes of work, which will be incorporated into the BFS. Upon completion of the contractor selection process, a timeline and budget for completion of the BFS will be established. Final construction approvals remain subject to completion of the environmental review, permitting, and the BFS.
NOVAGOLD is focused on the development of the Donlin Gold project in Alaska. The Donlin Gold project contains approximately 39 million ounces of gold in the Measured and Indicated Mineral Resource categories (541 million tonnes at an average grade of approximately 2.24 grams per tonne, in the Measured and Indicated Mineral Resource categories on a 100% basis), inclusive of Proven and Probable Mineral Reserves. The Donlin Gold project is expected to produce an average of more than one million ounces per year over a 27-year mine life on a 100% basis once in production.
Paulson is a private global investment management advisory firm based in Palm Beach, Florida. Through its affiliates, Paulson owns 100% of Donlin Gold Holdings, which owns a 40% stake in Donlin Gold. Paulson, together with NOVAGOLD, owns 100% of Donlin Gold and shares equal voting and operating control with NOVAGOLD through its operating agreement.
NOVAGOLD Contacts:
Mélanie Hennessey
Vice President, Corporate Communications
Frank Gagnon
Manager, Investor Relations
604-669-6227 or 1-866-669-6227
info@novagold.com
Source: NOVAGOLD RESOURCES INC.
