# exh 991

Source Brief: https://evesgoldminers.com/research/source-briefs/novagold-resources-inc-2025-11-25-exh-991-16f0671e
Original source: https://www.sec.gov/Archives/edgar/data/1173420/000117184325007580/exh_991.htm
Original published: 2025-11-25
EGM generated: 2026-09-04
Company: NOVAGOLD Resources Inc. (NG)

## Use Note

This is the Eve's Gold Miners normalized Markdown copy of an official or regulatory public source. It is provided for readability, search discovery, and research resilience. The original source remains authoritative for legal, regulatory, and investment decisions.

## Extracted Document Text

# exh 991

Source: https://www.sec.gov/Archives/edgar/data/1173420/000117184325007580/exh_991.htm
Published: 2025-11-25T00:00:00+00:00
Fetched: 2026-05-12T12:33:35.855+00:00
Source artifact: 16f0671e-8cd6-4fff-8b8b-d714387892fd
Normalizer input: text

## Content

# exh 991
EX-99.1
2
exh_991.htm
EXHIBIT 99.1
Exhibit 99.1
NEWS
RELEASE
NOVAGOLD REPORTS HIGH-GRADE DRILL RESULTS
AND RECEIVES POSITIVE DECISION FROM ALASKA SUPREME COURT
Final Assay Results Yield Additional High-Grade Gold Intercepts: The 2025 Donlin Gold drill program delivered high-grade intercepts,
across multiple zones, including standout intervals up to 26.22 g/t gold, further supporting its place as one of the largest and highest-quality
gold projects globally.
Alaska Supreme Court Upholds Key State Permits: The Court affirmed Donlin Gold’s water rights for the mine and State
Right-Of-Way (“State ROW”) lease for its proposed natural gas pipeline, validating the State of Alaska’s rigorous review
and enabling the project to move forward responsibly.
Federal Permits in Hand with Acceptance in the Fixing America’s Surface Transportation Act (FAST-41): The FAST-41 enhances
transparency, accountability, and predictability in Donlin Gold’s supplemental federal permitting process.
November 25, 2025 – Vancouver, British Columbia – NOVAGOLD RESOURCES INC.
(“NOVAGOLD” or the “Company”) (NYSE American, TSX: NG) is pleased to announce the final assay results from the
2025 Donlin Gold drill program, marking a significant milestone in the advancement of what is anticipated to be America’s largest
gold mine. Additionally, NOVAGOLD achieved two significant permitting milestones with the acceptance of Donlin Gold into the Federal Permitting
Improvement Steering Council’s FAST-41 program — an important step to ensure a transparent, accountable, and predictable process
for conducting the supplemental environmental analysis requested by the U.S. District Court for the District of Alaska and a favorable
ruling from the Alaska Supreme Court affirming both the project’s water rights and the Department of Natural Resources’ approval
of the State ROW lease for the proposed 316-mile natural gas pipeline.
“To date, the drilling at Donlin has yielded terrific results,” said Greg Lang,
NOVAGOLD’s President and CEO. “The 2025 drill program continues to exceed expectations and provide key data points for the
Bankable Feasibility Study (BFS), which is expected to commence by the first quarter of 2026. With consistent high-grade intercepts, acceptance
into the FAST-41 program, and a decisive legal win in Alaska, Donlin Gold is advancing with remarkable determination. These milestones
not only validate the extraordinary quality of the asset and demonstrate the strength of our team, but also provide the momentum needed
to support the next phase of development. The progress we have made — both technically and on the permitting front — positions
Donlin Gold as a standout project in the global gold sector.”
Most Recent Drill Program Solidifies Donlin Gold’s Path to BFS
The 2025 Donlin Gold drill program was expanded to support the updated
resource model and advance the BFS, reinforcing the project’s long-term development strategy. Work centered on three key areas:
grid drilling to refine mine-planning inputs; in-pit exploration drilling to strengthen geological modelling and resource conversion;
and geotechnical drilling, including pit wall and material site assessments for the planned access road — all essential to the BFS.
Supported by a team of about 80 locally hired staff and external contractors, the 2025 drill
program intersected multiple zones of high-grade gold mineralization. The findings contribute vital inputs for engineering work, mine
planning, and resource modelling — marking an important milestone on the Company’s path to a BFS.
www.novagold.com Page | 1
The top five intervals from the final set of 2025 assays include:
DC25-2262
intersected 41.09 m grading 3.06 g/t gold starting at 387.96 m drilled depth.
The true width of mineralization across this interval is estimated to be 35.87 m. 1
DC25-2262 intersected 21.03 m grading 4.51 g/t gold starting at 354.09 m drilled depth.
The true width of mineralization across this interval is estimated to be 18.16 m.
DC25-2275 intersected 4.38 m grading 26.22 g/t gold starting at 165.95 m drilled depth.
The true width of mineralization across this interval is estimated to be 3.15 m.
DC25-2263 intersected 27.43 m grading 4.14 gold starting at 381.17 m drilled depth. The
true width of mineralization across this interval is estimated to be 17.72 m.
DC25-2267 intersected 13.89 m grading 7.08 g/t gold starting at 442.67 m drilled depth.
The true width of mineralization across this interval is estimated to be 12.87 m.
Figure 1 Donlin Gold Drill Hole Collar Locations
The figure shows the drill hole collar locations of the 2025 program. The
drill hole orientations, depths and significant intervals are shown at the end of this release in Tables 1 and 2 of the
Appendix.
1 True width of intercepts has been estimated based on the
latest geological model and it is subject to refinement as additional data becomes available. Except where specifically disclosed, the
true width of intercepts is unknown at this stage.
www.novagold.com Page | 2
The program included 19 infill holes in the previously drilled East ACMA
grid (2021) totaling 5,079 meters, aimed at verifying short scale continuity of mineralization and improving resource confidence and key
inputs for mine planning.
In-pit exploration comprised 24 holes totaling 10,370 meters, targeting
areas of the pit containing Inferred Resources with the potential to be converted to Indicated Resources.
Geotechnical drilling comprised four holes totaling 2,607 meters for pit wall stability analysis
and mine design, and an additional 26 holes totaling 399 meters of drilling on the material sites for construction of the access road
from the Jungjuk port on the Kuskokwim River to Donlin Gold. All drilling was conducted using core methods to ensure precision and high-quality
geological data.
Federal FAST-41 Designation
On October 27, 2025, Donlin Gold was formally accepted into the FAST-41 program, a federal initiative
that enhances transparency, accountability, and predictability in the federal permitting process. Established in 2015, FAST-41 ensures
that permitting timelines are clearly defined, publicly available and coordinated among federal agencies, while maintaining every existing
environmental safeguard and regulatory requirement. This designation is expected to result in a more efficient permitting timeline and
reflects the strategic importance of Donlin Gold as a responsible and key economic development project in Alaska.
“We’re grateful to the Permitting Council for including Donlin Gold in the FAST-41
program,” said Todd Dahlman, Donlin Gold’s General Manager. “This milestone brings us one step closer to responsibly
advancing the project through this improved federal coordination program, with its predictable permitting timelines and improved public
transparency.”
As part of the acceptance, Donlin Gold is now listed on the Federal Permitting Dashboard in
connection with the project’s Supplemental Environmental Impact Statement (SEIS). In 2025, the U.S. Alaska District Court directed
the U.S. Army Corps of Engineers (USACE) and the Bureau of Land Management (BLM) to supplement the current Environmental Impact Statement
with an analysis of a larger theoretical tailings dam release, while leaving Donlin Gold’s federal permits in place. As part of
the ongoing federal review, the USACE, in consultation with BLM, will lead the SEIS process to conduct this analysis. This transparent,
science-based review is designed to provide both the public and decision-makers with complete and accurate information. While most projects
that are accepted in FAST-41 program are at the initial stages of permitting, Donlin Gold has been deeply engaged in permitting for over
a decade and has received most of its state and federal permits. Donlin’s inclusion in the FAST-41 program is focused on ensuring
a transparent, accountable, and predictable process for the federal agencies’ supplemental environmental analysis requested by the
Court.
Alaska Supreme Court Decision
On November 14, 2025, Donlin Gold welcomed the Alaska Supreme Court’s decision affirming
both the project’s water rights permits for the mine and the Department of Natural Resources’ approval of the State’s
ROW for the state-owned lands portion of the proposed 316-mile natural gas pipeline. The ruling validates the State of Alaska’s
thorough review process and reinforces that the project can move forward in a manner that safeguards the lands, waters, and communities
of the Yukon-Kuskokwim and southcentral regions.
www.novagold.com Page | 3
We continue to support the State of Alaska in defending the Department
of Environmental Conservation’s (ADEC) Clean Water Act Section 401 Water Quality Certification (“401 Certification”),
which is the only remaining challenge to Donlin Gold’s permits in state court. On May 6, 2025, the Alaska Superior Court upheld
ADEC’s issuance of the 401 Certification. Earthjustice filed an appeal in the Alaska Supreme Court and filed their opening brief
on September 16, 2025. Donlin Gold’s and the State of Alaska’s briefs are due before year-end.
Bankable Feasibility Study Update
The Request for Proposals for the BFS work was issued in the third quarter to engineering firms
with the expertise to deliver a project of this scale. Proposals were received last month, and Donlin Gold remains on track to select
a top-tier engineering firm to lead the BFS in the coming months. The comprehensive data generated from this year’s drill program
will further strengthen the foundation to be used for mine planning, engineering, and resource modelling.
Alaska’s Regional Energy Synergies
As evidenced by the recent announcement in Washington, D.C. of a strategic alliance between
Glenfarne Alaska LNG, LLC (“Glenfarne”) and Baker Hughes to advance the Alaska LNG Project, there’s growing momentum
for development of Alaska’s energy infrastructure. 2 These developments will strengthen Alaska’s energy independence
and offers potential long-term benefits that would improve access to locally sourced, affordable fuel for energy for Donlin.
QA/QC Procedures
The QA/QC procedures for the 2025 Donlin Gold project drill program and
sampling protocol were developed and managed by Donlin Gold and overseen by NOVAGOLD. The chain of custody from the drill site to the
sample preparation facility was continuously monitored. All samples are HQ-diameter core. Approximately 98% core recovery was achieved
during the 2025 drill program. Core was logged, cut, and sampled at site by Donlin Gold employees. Samples were primarily collected on
one- to two-meter lengths. Sampled half-core was crushed and pulverized in Bureau Veritas’ sample preparation facilities in Fairbanks,
Alaska. Pulps were sent to Bureau Veritas’ lab in Vancouver, British Columbia for gold assays and multi-element analysis. The pulps
were then sent to an ALS Limited lab in Vancouver, British Columbia for CNL/LECO analysis. Quality control samples were inserted (standards
at 5% of primary samples, blanks at 5% of primary samples and duplicates at 2.5% of primary samples) into each batch of samples. The review
of the quality control samples did not indicate any bias or error. Out of bounds quality control samples were handled with appropriate
reruns and investigations. There are no known factors that would materially af

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