Recent Updates — NG

NOVAGOLD Resources Inc. filed a supplemental disclosure to its definitive proxy statement regarding a proposed transaction in which New NOVAGOLD would become the ultimate parent and acquire the remaining 40% interest in Donlin Gold held by Paulson Advisers LLC, increasing ownership to 100%. The supplement addresses shareholder demand letters alleging omissions in prior disclosures. Under the deal, current shareholders would own approximately 65% of New NOVAGOLD, while Paulson’s economic interest would be capped at 39.7% and voting rights at 19.99%. Shareholders will vote on the transaction at a special meeting scheduled for November 3, 2026. The company operates in the gold mining industry.

NOVAGOLD Resources reported a net loss of $36.0 million, or $0.08 per share, for the fiscal quarter ended August 31, 2026, driven by higher general administrative expenses and Bankable Feasibility Study costs at its Donlin Gold project. The company held approximately $343.4 million in cash and term deposits as of quarter-end. NOVAGOLD also provided an update on its pending all-share transaction to acquire Paulson Advisers LLC's 40% interest in Donlin Gold, which is expected to close by year-end subject to shareholder and regulatory approvals. The company operates as a precious metals development company focused on the Donlin Gold project in Alaska.

NOVAGOLD Resources Inc. filed and mailed its management information circular and definitive proxy statement for a special shareholder meeting scheduled for November 3, 2026. Shareholders will vote on an arrangement to acquire the remaining 40% interest in Donlin Gold held by Paulson Advisers LLC, increasing NOVAGOLD's ownership from 60% to 100%. The all-share transaction would result in current shareholders owning approximately 65% of New NOVAGOLD, with Paulson holding a capped voting interest. The board unanimously recommends approval. NOVAGOLD is a precious metals company focused on developing the Donlin Gold project in Alaska.

NovaGold Resources filed a definitive proxy statement seeking shareholder approval for a proposed arrangement transaction. Under the deal, shareholders will exchange each NovaGold common share for one voting common share of New NovaGold, a newly formed Delaware corporation that will become the new listed entity on the NYSE. The special meeting is scheduled for November 3, 2026. Completion requires shareholder, court, and regulatory approvals. Upon closing, New NovaGold will own 100% of the Donlin Gold project in Alaska. NovaGold Resources Inc. operates in the gold mining industry, primarily focused on advancing the development of the Donlin Gold project.

NovaGold Resources Inc. entered into an Arrangement Agreement on July 21, 2026, for its acquisition by NovaGold Corporation, a Delaware corporation, in a transaction involving Paulson Advisers LLC. Under the terms, NovaGold shareholders will receive one share of New NovaGold voting common stock for each share held. Concurrently, Paulson will contribute its 40% interest in the Donlin Gold project in Alaska to New NovaGold in exchange for equity. The transaction is subject to shareholder approval, court orders, and various regulatory clearances, with an outside date of March 31, 2027. The New NovaGold Board will initially consist of eleven directors, including co-chairs John Paulson and Thomas Kaplan. NovaGold is a gold exploration and development company.

NovaGold Resources Inc. entered into definitive agreements to acquire Paulson Advisers LLC's 40% interest in Donlin Gold, increasing its ownership from 60% to 100% in an all-share transaction. The deal creates a new U.S.-domiciled company, NovaGold Corporation, with an estimated equity value of $4.2 billion, where current shareholders will own approximately 65% and Paulson will hold approximately 35% on a fully diluted basis. The transaction is expected to close in the fourth quarter of 2026. NovaGold is a gold development company focused on the Donlin Gold project in Alaska.