NOVAGOLD and Paulson to acquire Barrick's 50% Donlin Gold stake for $1B; NOVAGOLD to own 60%

NOVAGOLD RESOURCES INC

NOVAGOLD will increase Donlin Gold ownership from 50% to 60% for $200M; Paulson acquires 40% for $800M.
Funding: Paulson, Electrum, Kopernik to subscribe for up to $170M of NOVAGOLD shares at $3.00, plus 25.5M warrants at same price.
Transaction expected to close late Q2 or early Q3 2025, subject to regulatory approvals.
NOVAGOLD granted option to purchase Donlin Gold debt from Barrick for $90M (pre-close) or $100M (within 18 months).
Partners plan to update Feasibility Study and shift 2025 drill program towards reserves/resources conversion.

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