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# ex 909308

Source: https://www.sec.gov/Archives/edgar/data/1173420/000117184326000374/ex_909308.htm
Published: 2026-01-22T00:00:00+00:00
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# ex 909308
EX-96.1
13
ex_909308.htm
EXHIBIT 96.1
HTML Editor
Exhibit 96.1
Donlin Gold Project
Alaska, USA
S-K 1300 Technical Report Summary
Date and Signature Page
The technical report summary entitled “S-K 1300 Technical Report Summary on the Donlin Gold Project, Alaska, USA” dated 30 November 2025 was prepared by qualified persons employed by the following third-party firms comprising mining experts:
Date: 22 January 2026
“Signed ”
On behalf of Wood Group USA Inc.
“Signed ”
On behalf of Geosyntec Consultants International, Inc.
Project No.: 259219
Date and Signature Page
22 January 2026
Page 1
Donlin Gold Project
Alaska, USA
S-K 1300 Technical Report Summary
Contents
1.0
executive SUMMARY
1-1
1.1
Introduction
1-1
1.2
Terms of Reference
1-1
1.3
Principal Outcomes
1-2
1.4
Location, Climate, and Access
1-3
1.5
Mineral Tenure and Surface Rights
1-3
1.6
Royalties
1-5
1.7
Geology and Mineralization
1-6
1.8
Exploration
1-6
1.8.1
Exploration Potential
1-7
1.8.2
Drilling
1-7
1.9
Data Verification
1-8
1.10
Metallurgical Testwork
1-8
1.11
Mineral Resource Estimates
1-8
1.12
Mineral Reserve Estimates
1-11
1.13
Mine Methods
1-12
1.14
Processing and Recovery Methods
1-12
1.15
Infrastructure
1-12
1.16
Environment, Permitting and Agreements
1-13
1.17
Capital Costs
1-13
1.18
Operating Costs
1-15
1.19
Economic Analysis
1-15
1.20
Conclusions
1-16
1.21
Risks
1-16
1.22
Recommendations
1-16
2.0
Introduction
2-1
2.1
Terms of Reference
2-1
2.2
Qualified Persons
2-1
2.3
Site Visits
2-2
2.4
Information Sources
2-4
3.0
Property Description
3-1
3.1
Location
3-1
3.2
Origin of Native Title to the Lands
3-1
3.3
Mineral Tenure
3-4
3.3.1
Calista Lease
3-4
3.3.2
Lyman Lease
3-4
3.3.3
State Mining Claims
3-5
3.4
Surface Rights
3-5
3.5
Royalties and Encumbrances
3-6
3.6
Permits
3-7
Project No.: 259219
22 January 2026
TOC i
Donlin Gold Project
Alaska, USA
S-K 1300 Technical Report Summary
3.7
Environmental Liabilities
3-7
3.8
Significant Risk Factors
3-7
4.0
Accessibility, Climate, Local Resources, Infrastructure, and Physiography
4-1
4.1
Accessibility
4-1
4.2
Climate
4-1
4.3
Local Resources and Infrastructure
4-1
4.4
Physiography
4-2
4.5
Sufficiency of Surface Rights
4-2
5.0
History
5-1
5.1
Prior Ownership
5-1
5.2
Exploration History
5-1
6.0
Geological Setting, Mineralization, and deposit
6-1
6.1
Regional Geology
6-1
6.2
Project Geology
6-2
6.2.1
Lithologies
6-3
6.2.2
Structure
6-4
6.3
Deposit Setting
6-4
6.4
Paragenesis
6-4
6.5
Deposit Geology
6-5
6.5.1
Sedimentary Rocks
6-5
6.5.2
Igneous Rocks
6-7
6.5.3
Structure
6-8
6.6
Deposits
6-10
6.7
Mineralization
6-11
6.7.1
Vein and Disseminated Mineralization
6-11
6.8
Alteration
6-13
6.9
Minor Elements
6-13
6.10
Deposit Types
6-14
7.0
Exploration
7-1
7.1
Grids and Surveys
7-1
7.2
Geological Mapping
7-1
7.3
Geochemical Sampling
7-2
7.4
Geophysics
7-5
7.5
Excavations and Trenches
7-7
7.5.1
Legacy Excavations and Trenches
7-9
7.5.2
Recent Excavations and Trenches
7-9
7.6
Exploration Potential
7-10
7.6.1
Far Side
7-11
7.6.2
Duqum
7-11
7.6.3
Snow / Quartz
7-12
7.6.4
Dome
7-12
7.6.5
Ophir
7-13
7.7
Drilling
7-13
Project No.: 259219
22 January 2026
TOC ii
Donlin Gold Project
Alaska, USA
S-K 1300 Technical Report Summary
7.8
Drill Methods
7-18
7.9
Geological Logging
7-18
7.10
Recovery
7-19
7.11
Collar Surveys
7-19
7.12
Down-hole Surveys
7-20
7.13
Geotechnical and Hydrogeological
7-20
7.13.1
Drilling
7-20
7.13.2
Hydrology and Hydrogeology
7-20
7.13.3
TSF Geotechnical Site Investigation
7-21
7.13.4
Laboratory Testing Program
7-22
7.14
Metallurgical Drilling
7-24
7.15
Condemnation Drilling
7-24
7.16
Twin Drilling
7-24
7.17
Summary of Drill Intercepts
7-24
8.0
Sample Preparation, Analyses, and Security
8-1
8.1
Sampling Methods
8-1
8.2
Metallurgical Sampling
8-1
8.3
Specific Gravity Determination
8-2
8.4
Analytical and Test Laboratories
8-2
8.5
Sample Preparation and Analysis
8-3
8.6
Quality Assurance and Quality Control
8-5
8.6.1
Standard Reference Materials
8-5
8.6.2
Blank Materials
8-6
8.6.3
1995-2002 Protocol
8-6
8.6.4
2005-2006 Protocol
8-7
8.6.5
2007-2010 Protocol
8-7
8.6.6
2017 Protocol
8-7
8.6.7
2020 Protocol
8-7
8.6.8
2021-2023 Protocol
8-8
8.6.9
2025 Protocol
8-8
8.7
Databases
8-8
8.8
Sample Security
8-8
8.9
QP Opinion on Sample Preparation, Security, and Analytical Procedures
8-9
9.0
Data Verification
9-1
9.1
Drill Hole Database
9-1
9.1.1
2002-2008
9-1
9.1.2
2009-2025
9-1
9.1.3
SRK Audit (2022)
9-2
9.2
Geology and Mineral Resource Data
9-2
9.2.1
Wood (2025)
9-2
9.3
Mining
9-3
9.4
Metallurgy and Mineral Processing
9-4
9.5
Infrastructure
9-4
9.5.1
Utilities, Onsite Buildings and Off-site Infrastructure
9-4
Project No.: 259219
22 January 2026
TOC iii
Donlin Gold Project
Alaska, USA
S-K 1300 Technical Report Summary
9.5.2
Tailings and Geotechnical
9-4
9.5.3
Water Management
9-5
9.6
Environmental
9-5
9.7
QP Opinion on Data Adequacy
9-6
9.7.1
Database, Geology and Mineral Resources
9-6
9.7.2
Mining
9-6
9.7.3
Metallurgy and Mineral Processing
9-6
9.7.4
Utilities, Onsite Buildings and Off-site Infrastructure
9-6
9.7.5
Tailings and Geotechnical
9-6
9.7.6
Water Management
9-7
9.7.7
Environmental
9-7
10.0
Mineral Processing and Metallurgical Testing
10-1
10.1
Geology and Mineralogy
10-1
10.1.1
Mineralization
10-2
10.1.2
Gold Deportment
10-3
10.1.3
Mercury, Chlorine, Carbonates and Organic Carbon Deportment
10-3
10.2
Metallurgical Testwork
10-4
10.2.1
Samples
10-4
10.2.2
Comminution
10-7
10.2.2.1
2002–2003 Testwork
10-7
10.2.2.2
2004–2005 Testwork
10-8
10.2.2.3
2006 HQ Core Testwork
10-9
10.2.2.4
2006 Whole PQ Core Testwork
10-9
10.2.2.5
2007 HQ Core Testwork
10-9
10.2.2.6
Effect of Grind Size on BWI
10-10
10.2.2.7
Comminution Circuit Selection
10-11
10.2.2.8
Geostatistical Assessment
10-12
10.2.2.9
MCF2 Grinding Circuit Design Method and Capacity Definition
10-13
10.2.3
Flotation
10-14
10.2.3.1
Summary
10-14
10.2.3.2
1995-2006 Testwork
10-15
10.2.3.3
Mineralogy Summary
10-16
10.2.3.4
2006 Pilot-Plant Testing
10-16
10.2.3.5
Bench Testing of MCF2 Flowsheet
10-17
10.2.3.6
2007 Pilot-Plant Testing
10-18
10.2.3.7
2007 Variability Testing
10-18
10.2.3.8
Effect of Geological Oxidation on Flotation Performance
10-20
10.2.3.9
Flotation Circuit Scale-up and Modeling
10-20
10.2.3.10
2018 Bench Flotation Testwork
10-20
10.2.4
Pressure Oxidation
10-22
10.2.4.1
Chemistry of Pressure Oxidation and Hot Cure
10-22
10.2.4.2
2004 Batch Autoclave Testing
10-22
10.2.4.3
2006 Batch Autoclave Testing
10-24
10.2.4.4
2006 Pilot-Plant Testing
10-25
Project No.: 259219
22 January 2026
TOC iv
Donlin Gold Project
Alaska, USA
S-K 1300 Technical Report Summary
10.2.4.5
2007 Phase 1 Pilot-Plant Testing
10-25
10.2.4.6
Phase 2 Pilot-Plant Testing
10-26
10.2.5
Neutralization
10-29
10.2.5.1
Summary
10-29
10.2.5.2
2004 Neutralization Testwork
10-30
10.2.5.3
2005 Neutralization Testwork
10-30
10.2.5.4
2006 Preliminary Batch Neutralization Testing
10-30
10.2.5.5
2006 Pilot Neutralization
10-30
10.2.5.6
2007 Neutralization Phase 1 Bench Testing
10-31
10.2.5.7
2007 Neutralization Phase 1 Pilot Testing
10-31
10.2.5.8
2007 Neutralization Phase 2 Pilot Testing
10-33
10.2.5.9
2007 Neutralization Variability Testing
10-35
10.2.6
Carbon-in-Leach
10-36
10.2.6.1
Summary
10-36
10.2.6.2
Key Metallurgical Aspects of Planned Donlin CIL Circuit
10-36
10.2.6.3
2006 CIL of Flotation Tails
10-37
10.2.6.4
2006 CIL Optimization Testwork
10-37
10.2.6.5
2007 CIL Pilot-Plant Testing
10-37
10.2.6.6
2007 CIL Optimization Testwork
10-39
10.2.6.7
Cyanide Detoxification Testwork
10-39
10.2.7
Thickening and Counter-Current Decantation Washing
10-40
10.2.8
Tailings Neutralization Capacity
10-40
10.3
Recovery Estimates
10-41
10.3.1
Flotation
10-41
10.3.2
Pressure Oxidation
10-44
10.3.3
Overall Plant Gold Recovery
10-44
10.4
Deleterious Elements
10-44
10.5
QP Opinion on Data Adequacy
10-45
11.0
Mineral Resource Estimates
11-1
11.1
Summary
11-1
11.2
Database
11-1
11.3
Geologic Models
11-1
11.4
Exploratory Data Analysis
11-3
11.5
Density Assignment
11-4
11.6
Grade Capping/Outlier Restrictions
11-4
11.7
Composites
11-5
11.8
Block Model Set Up
11-5
11.9
Indicator Estimation
11-6
11.10
Estimation Methods
11-6
11.11
Classification of Waste Rock Management Categories
11-7
11.12
Validation
11-9
11.13
Classification
11-15
11.13.1
Uncertainties Considered During Confidence Classification
11-16
11.14
Reasonable Prospects for Eventual Economic Extraction
11-16
Project No.: 259219
22 January 2026
TOC v
Donlin Gold Project
Alaska, USA
S-K 1300 Technical Report Summary
11.14.1
Cut-off Determination
11-17
11.15
Mineral Resource Statement
11-18
11.16
Factors that May Affect the Mineral Resource Estimate
11-18
12.0
Mineral Reserve Estimates
12-1
12.1
Modifying Factors
12-1
12.1.1
Summary
12-1
12.1.2
Dilution and Mine Loss
12-2
12.1.3
Metallurgical Recovery
12-4
12.1.4
Gold Price Forecast
12-4
12.1.5
Pit Slopes
12-5
12.2
Cut-off Determination
12-8
12.3
Mineral Reserve Statement
12-9
12.4
Factors that May Affect the Mineral Reserve Estimate
12-10
13.0
Mining Methods
13-1
13.1
Throughput Considerations
13-1
13.2
Geotechnical Considerations
13-1
13.2.1
Site Investigations
13-1
13.2.2
Model Development
13-2
13.2.2.1
Geologic Model
13-2
13.2.2.2
Structural Model
13-2
13.2.2.3
Rock Mass and Geotechnical Properties
13-3
13.2.2.4
Slope Stability Analysis
13-4
13.2.2.5
Pit Slope Design Criteria
13-4
13.3
Pit Phases
13-5
13.4
Pit Design Parameters
13-6
13.5
Production Schedule
13-8
13.5.1
Planned Production Schedule
13-8
13.5.2
Pit-Phase Mining Rates
13-8
13.5.3
Mine Production Plan
13-9
13.5.4
Process Feed Plan
13-13
13.6
Ore Stockpiles
13-13
13.7
Waste Rock Facilities
13-14
13.8
Water Management
13-15
13.9
Blasting and Explosives
13-16
13.10
Mining Equipment
13-17
13.10.1
Drilling
13-18
13.10.2
Loading
13-18
13.10.3
Hauling
13-18
13.10.4
Secondary Fleet
13-18
13.10.5
Support Equipment
13-19
13.11
Work Schedule
13-20
13.11.1
Personnel Requirements
13-20
14.0
processing and recovery Methods
14-1
Project No.: 259219
22 January 2026
TOC vi
Donlin Gold Project
Alaska, USA
S-K 1300 Technical Report Summary
14.1
Plant Design
14-1
14.1.1
General
14-1
14.1.2
Crushing and Coarse Ore Stockpile
14-3
14.1.3
Grinding and Pebble Crushing
14-3
14.1.4
Flotation
14-4
14.1.5
Thickening, Concentrate Storage, Acidulation, and CCD Washing
14-5
14.1.6
Autoclave Plant
14-6
14.1.7
Counter Current Decantation Pressure Oxidization Thickening and Washing
14-8
14.1.8
Flotation Tailings Neutralization
14-8
14.1.9
Solids Carbon-in-Leach Neutralization
14-9
14.1.10
Carbon-in-Leach Cyanidation Circuit
14-9
14.1.11
Cyanide Destruction System
14-10
14.1.12
Carbon Elution, Electrowinning, Reactivation, and Gold Refining
14-10
14.1.13
Mercury Abatement Systems
14-11
14.2
Reagents
14-13
14.2.1
Lime
14-13
14.2.2
Sulfur Dioxide
14-14
14.3
Process Services
14-14
14.3.1
Air and Gaseous Oxygen
14-14
14.3.2
Plant Water Distribution
14-14
14.3.3
Power Requirements
14-16
14.4
Personnel Requirements
14-16
15.0
Infrastructure
15-1
15.1
Summary
15-1
15.2
Access and Logistics
15-1
15.2.1
Port-to-Mine Access Road
15-1
15.2.2
Road Construction
15-3
15.2.3
Airstrip
15-3
15.2.4
Cargoes
15-4
15.2.5
Fuel
15-4
15.3
Plant Site Facilities
15-4
15.4
Camps and Accommodation
15-6
15.5
Waste Rock Facilities
15-7
15.5.1
Location
15-7
15.5.2
Acid-base Accounting
15-7
15.5.3
Geotechnical Design
15-8
15.6
Tailings Storage Facilities
15-8
15.6.1
Site Geology
15-8
15.6.2
Seismicity
15-9
15.6.3
Geotechnical Site Investigation and Laboratory Testing
15-10
15.6.4
TSF Design
15-10
15.6.4.1
Design Criteria
15-10
15.6.4.2
Inflow Design Flood
15-10
15.6.4.3
Foundation Stability
15-10
Project No.: 259219
22 January 2026
TOC vii
Donlin Gold Project
Alaska, USA
S-K 1300 Technical Report Summary
15.6.4.4
Configuration
15-11
15.6.4.5
Seep

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