# NOVAGOLD Files Third Quarter 2026 Report Unlocking Donlin Gold's Full Potential and Advancing the Path To Development Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/novagold-files-third-quarter-2026-report-unlocking-donlin-gold-s-full-potential--f78fd391-939b-4fc9-b31f-265949429c04 Original source: https://orestocks.com/company/NG/press-releases/8783693550241535 Publisher: orestocks Original announcement: 2026-10-08T12:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-08T12:49:33.459Z Atlas analysis updated: 2026-10-08T12:49:33.459Z - Company: NOVAGOLD RESOURCES INC. - Ticker: NG - Exchange: Unavailable - Region: Alaska - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Agreement transaction, Capital raise, Resource update - Extracted: 2026-10-08 12:49:34 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary NOVAGOLD announced the acquisition of the remaining 40% interest in the Donlin Gold project, consolidating 100% ownership of what is projected to be the largest single gold mine in the United States. The company also appointed financial advisors to secure project and infrastructure financing and reported a robust treasury of $343.4 million. The Bankable Feasibility Study for the Donlin Gold project remains on schedule for completion in 2027, with permitting activities continuing to advance. Reasoning: NOVAGOLD is consolidating 100% ownership of its flagship Donlin Gold project, securing financial advisory for its development, and advancing its BFS, all while maintaining a strong treasury and progressing permitting, indicating significant de-risking and progress towards development. - Positive factor: Acquisition of 100% ownership of Donlin Gold - Positive factor: Appointment of financial advisors for project financing - Positive factor: Strong cash position - Positive factor: Advancement of Bankable Feasibility Study \(BFS\) - Positive factor: Large, high-grade gold resource - Positive factor: Existing permits remain in effect - Negative factor: Ongoing legal appeals related to permitting - Negative factor: Elevated professional fees due to transactions Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 19 ## Classification and evidence **Step-Out Extension** Polarity: positive Story-specific tag Definition: Mineralization extended beyond the previously known limit. Why it applies: The acquisition of Paulson's 40% interest increases NOVAGOLD's ownership to 100%, consolidating control over the project. Evidence · text > NOVAGOLD’s ownership interest in Donlin Gold LLC will increase from 60% to 100% **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: Financial advisors have been appointed to evaluate funding alternatives and execute a structured project financing strategy for the Donlin Gold project. Evidence · text > Donlin Gold appointed Endeavour Financial and Macquarie Capital to provide financial advisory services for the development of the Donlin Gold project in Alaska and to support the arrangement of project and infrastructure financing. **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource and reserve estimates are compliant with NI 43-101 reporting standards. Evidence · text > Mineral Reserves and Resources have been estimated in accordance with NI 43-101 and S-K 1300. **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document provides updated figures for the Donlin Gold project's mineral resources and reserves, referencing the 2025 Technical Report. Evidence · text > With approximately 40 million ounces of Measured and Indicated Mineral Resources \(inclusive of Mineral Reserves\), comprising 560 million tonnes grading 2.22 grams per tonne6 **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: The resource estimate is being used to support the ongoing Bankable Feasibility Study. Evidence · text > NOVAGOLD’s results for this quarter reflect incremental expenditures at Donlin Gold due to ongoing Bankable Feasibility Study \(BFS\) activities **Permit Granted** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The existing federal and state permits and approvals for the Donlin Gold project remain in effect. Evidence · text > All federal and state permits and approvals granted to Donlin Gold remain in effect as the legal appeals proceed. **Permit Application Submitted** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: Detailed Design Packages for dam safety permitting are anticipated to be submitted by the end of 2026 or early 2027. Evidence · text > submission of Detailed Design Packages anticipated by end of 2026 or early 2027 **Environmental Impact Statement** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: The Supplemental Environmental Impact Statement \(SEIS\) for the project has been published. Evidence · text > the U.S. Army Corps of Engineers... published Donlin Gold’s Supplemental Environmental Impact Statement \(SEIS\) ## Extracted facts Stored fact records: 12. Some facts used in scoring do not have a stored record. ## Resource Estimates (12) ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/novagold-files-third-quarter-2026-report-unlocking-donlin-gold-s-full-potential--f78fd391-939b-4fc9-b31f-265949429c04#fact-resource-facts-2) Donlin Gold · gold Historical result Needs review: historical\_restatement #### Identity - Project: Donlin Gold - Commodity: gold - Region: usa\_ak - Reported Region: Alaska - Ticker: NG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - Resource group id: resource:b390155df921900569fe #### Resource Data - Category: measured - Tonnes: 9000000 - Grade: 2.67 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2025-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: The restated Measured Resource for Donlin Gold, though historical, represents a high-confidence portion of the deposit with a good grade, supporting the project's overall value. - Positive factor: High confidence resource category - Positive factor: Good grade for open-pit gold deposit Evidence · text > Measured Resources of approximately 9 Mt grading 2.67 g/t #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/novagold-files-third-quarter-2026-report-unlocking-donlin-gold-s-full-potential--f78fd391-939b-4fc9-b31f-265949429c04#fact-resource-facts-3) Donlin Gold · gold Historical result Needs review: historical\_restatement #### Identity - Project: Donlin Gold - Commodity: gold - Region: usa\_ak - Reported Region: Alaska - Ticker: NG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - Resource group id: resource:cefe0d778fd2efe2b6de #### Resource Data - Category: indicated - Tonnes: 551000000 - Grade: 2.21 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2025-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: The restated Indicated Resource, while historical, highlights the substantial scale and good grade of the Donlin Gold project, providing a strong foundation for development. - Positive factor: Large tonnage in Indicated category - Positive factor: Good grade for open-pit gold deposit Evidence · text > Indicated Resources of approximately 551 Mt grading 2.21 g/t #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/novagold-files-third-quarter-2026-report-unlocking-donlin-gold-s-full-potential--f78fd391-939b-4fc9-b31f-265949429c04#fact-resource-facts-4) Donlin Gold · gold Historical result Needs review: historical\_restatement #### Identity - Project: Donlin Gold - Commodity: gold - Region: usa\_ak - Reported Region: Alaska - Ticker: NG #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - Resource group id: resource:fdabf19a2d11c79686bc #### Resource Data - Category: proven - Tonnes: 9000000 - Grade: 2.29 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2025-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: The restated Proven Reserve, though historical, confirms a portion of the Donlin Gold project as economically viable, underpinning the project's development potential. - Positive factor: Highest confidence reserve category - Positive factor: Demonstrates economic viability Evidence · text > Proven Reserves of approximately 9 Mt grading 2.29 g/t #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/novagold-files-third-quarter-2026-report-unlocking-donlin-gold-s-full-potential--f78fd391-939b-4fc9-b31f-265949429c04#fact-resource-facts-5) Donlin Gold · gold Historical result Needs review: historical\_restatement #### Identity - Project: Donlin Gold - Commodity: gold - Region: usa\_ak - Reported Region: Alaska - Ticker: NG #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - Resource group id: resource:9d455d2208ed7c7cc7fd #### Resource Data - Category: probable - Tonnes: 495000000 - Grade: 2.02 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2025-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: The restated Probable Reserve, while historical, indicates a substantial portion of the Donlin Gold project is economically extractable, supporting its large-scale development. - Positive factor: Large tonnage in Probable category - Positive factor: Demonstrates significant economic viability Evidence · text > Probable Reserves of approximately 495 Mt grading 2.02 g/t #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/novagold-files-third-quarter-2026-report-unlocking-donlin-gold-s-full-potential--f78fd391-939b-4fc9-b31f-265949429c04#fact-resource-facts-6) Donlin Gold · gold Historical result Needs review: historical\_restatement #### Identity - Project: Donlin Gold - Commodity: gold - Region: usa\_ak - Reported Region: Alaska - Ticker: NG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - Resource group id: resource:5e5a83bfdc5a495188d1 - Ownership percent: 60 % #### Resource Data - Category: measured - Tonnes: 6000000 - Grade: 2.67 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2025-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: NOVAGOLD's attributable Measured Resource, though historical, represents a significant and high-confidence portion of the Donlin Gold project, contributing to its asset base. - Positive factor: Attributable high-confidence resource - Positive factor: Good grade for open-pit gold deposit Evidence · text > approximately 6 Mt of Measured Resources ... is currently attributable to NOVAGOLD through its 60% ownership interest in Donlin Gold. #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/novagold-files-third-quarter-2026-report-unlocking-donlin-gold-s-full-potential--f78fd391-939b-4fc9-b31f-265949429c04#fact-resource-facts-7) Donlin Gold · gold Historical result Needs review: historical\_restatement #### Identity - Project: Donlin Gold - Commodity: gold - Region: usa\_ak - Reported Region: Alaska - Ticker: NG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - Resource group id: resource:0cdc4ce9f44cbf7da939 - Ownership percent: 60 % #### Resource Data - Category: indicated - Tonnes: 330000000 - Grade: 2.21 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2025-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: NOVAGOLD's attributable Indicated Resource, while historical, highlights a substantial and well-defined portion of the Donlin Gold project, supporting its asset valuation. - Positive factor: Large attributable tonnage in Indicated category - Positive factor: Good grade for open-pit gold deposit Evidence · text > approximately 330 Mt of Indicated Resources inclusive of Mineral Reserves is currently attributable to NOVAGOLD through its 60% ownership interest in Donlin Gold. #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-staging.minestarters.com/news/novagold-files-third-quarter-2026-report-unlocking-donlin-gold-s-full-potential--f78fd391-939b-4fc9-b31f-265949429c04#fact-resource-facts-8) Donlin Gold · gold Historical result Needs review: historical\_restatement #### Identity - Project: Donlin Gold - Commodity: gold - Region: usa\_ak - Reported Region: Alaska - Ticker: NG #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - Resource group id: resource:1d46649798d69e277f30 - Ownership percent: 60 % #### Resource Data - Category: proven - Tonnes: 6000000 - Grade: 2.29 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2025-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: NOVAGOLD's attributable Proven Reserve, though historical, confirms an economically viable portion of the Donlin Gold project, adding to its reserve base. - Positive factor: Attributable highest confidence reserve category - Positive factor: Demonstrates economic viability Evidence · text > approximately 6 Mt of Proven Reserves ... is attributable to NOVAGOLD. #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/novagold-files-third-quarter-2026-report-unlocking-donlin-gold-s-full-potential--f78fd391-939b-4fc9-b31f-265949429c04#fact-resource-facts-9) Donlin Gold · gold Historical result Needs review: historical\_restatement #### Identity - Project: Donlin Gold - Commodity: gold - Region: usa\_ak - Reported Region: Alaska - Ticker: NG #### Resource scope - Estimate type: reserve - Reporting standards: ni\_43\_101, sec\_sk1300 - Resource group id: resource:759332e67d7d12db4175 - Ownership percent: 60 % #### Resource Data - Category: probable - Tonnes: 297000000 - Grade: 2.02 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2025-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: NOVAGOLD's attributable Probable Reserve, while historical, represents a substantial and economically extractable portion of the Donlin Gold project, bolstering its reserve profile. - Positive factor: Large attributable tonnage in Probable category - Positive factor: Demonstrates significant economic viability Evidence · text > approximately 297 Mt of Probable Reserves is attributable to NOVAGOLD. #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/novagold-files-third-quarter-2026-report-unlocking-donlin-gold-s-full-potential--f78fd391-939b-4fc9-b31f-265949429c04#fact-resource-facts-10) Donlin Gold · gold Historical result Needs review: historical\_restatement #### Identity - Project: Donlin Gold - Commodity: gold - Region: usa\_ak - Reported Region: Alaska - Ticker: NG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - Resource group id: resource:051e5b264d5edd60395c #### Resource Data - Category: measured - Tonnes: 1400000 - Grade: 1.18 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2025-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: The restated Measured Resource exclusive of reserves, though historical, provides a high-confidence estimate of additional gold, albeit at a lower grade. - Positive factor: High confidence resource category - Negative factor: Lower grade compared to inclusive resource Evidence · text > Exclusive of Mineral Reserves, Donlin Gold possesses Measured Resources of approximately 1.4 Mt grading 1.18 g/t #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/novagold-files-third-quarter-2026-report-unlocking-donlin-gold-s-full-potential--f78fd391-939b-4fc9-b31f-265949429c04#fact-resource-facts-11) Donlin Gold · gold Historical result Needs review: historical\_restatement #### Identity - Project: Donlin Gold - Commodity: gold - Region: usa\_ak - Reported Region: Alaska - Ticker: NG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - Resource group id: resource:d2a267371d9cd9a4d8b9 #### Resource Data - Category: indicated - Tonnes: 175000000 - Grade: 1.32 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2025-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: The restated Indicated Resource exclusive of reserves, while historical, adds substantial tonnage to the overall resource base, providing further exploration and development potential. - Positive factor: Significant tonnage in Indicated category - Negative factor: Lower grade compared to inclusive resource Evidence · text > Indicated Resources of approximately 175 Mt grading 1.32 g/t #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/novagold-files-third-quarter-2026-report-unlocking-donlin-gold-s-full-potential--f78fd391-939b-4fc9-b31f-265949429c04#fact-resource-facts-12) Donlin Gold · gold Historical result Needs review: historical\_restatement #### Identity - Project: Donlin Gold - Commodity: gold - Region: usa\_ak - Reported Region: Alaska - Ticker: NG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - Resource group id: resource:cde1072b7cfe7f31bcda - Ownership percent: 60 % #### Resource Data - Category: measured - Tonnes: 900000 - Grade: 1.18 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2025-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: NOVAGOLD's attributable Measured Resource exclusive of reserves, though historical, contributes to the company's overall resource base, providing additional gold potential. - Positive factor: Attributable high-confidence resource - Negative factor: Lower grade compared to inclusive resource Evidence · text > approximately 0.9 Mt of Measured Resources ... is currently attributable to NOVAGOLD. #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/novagold-files-third-quarter-2026-report-unlocking-donlin-gold-s-full-potential--f78fd391-939b-4fc9-b31f-265949429c04#fact-resource-facts-13) Donlin Gold · gold Historical result Needs review: historical\_restatement #### Identity - Project: Donlin Gold - Commodity: gold - Region: usa\_ak - Reported Region: Alaska - Ticker: NG #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, sec\_sk1300 - Resource group id: resource:3feba1eeef90db0f2436 - Ownership percent: 60 % #### Resource Data - Category: indicated - Tonnes: 105000000 - Grade: 1.32 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2025-11-30 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-11-30T00:00:00.000Z #### Dates - Event date: 2026-10-08T00:00:00.000Z Reasoning: NOVAGOLD's attributable Indicated Resource exclusive of reserves, while historical, adds substantial tonnage to the company's resource base, enhancing its long-term potential. - Positive factor: Significant attributable tonnage in Indicated category - Negative factor: Lower grade compared to inclusive resource Evidence · text > approximately 105 Mt of Indicated Resources exclusive of Mineral Reserves is currently attributable to NOVAGOLD. #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.