Novagold Resources reported a fiscal 2026 second-quarter net loss of $25.5 million, or $0.06 per share, marking a decrease of $28.8 million from the prior year. The loss narrowed compared to the same period last year, primarily due to a $39.6 million non-cash charge recognized in the prior year related to warrants issued under a backstop agreement. The company advanced the Donlin Gold Project, focusing on completing the bankable feasibility study by 2027, with significant progress in integrating major work packages and technical streams.

Financial Performance

The company's earnings per share (EPS) for the quarter was $0.06, reflecting the net loss reported. The table below details the comparison between the reported results and analyst estimates.

Novagold's cash and term deposits decreased by $22.3 million to $370.2 million, reflecting funding for Donlin Gold and corporate G&A costs. The company remains well-funded for upcoming commitments, including the completion of the bankable feasibility study in 2027 and the prepayment of the Barrick Promissory Note.

Operational Updates

Permitting for Donlin Gold is ongoing, with key regulatory processes affirmed and anticipation of a decision on the Clean Water Act section 401 certification within a year. Management highlighted strong collaboration with local stakeholders and continued support from shareholders, emphasizing the project's long-term value potential and strategic importance. The company's share of Donlin Gold expenses in the second quarter of 2026 was $10.4 million higher than the comparative prior year period due to ongoing activities by Fluor, WSP, Worley, and Hatch to advance the study.

NOVAGOLD Resources Inc. will release its 2026 second quarter report before market open on June 24, 2026. The company will host a conference call and video webcast at 8:00 am PT (11:00 am ET) to discuss the results. The announcement provides investors with an update on the company's financial performance and project advancements.

During the webcast, President and Chief Executive Officer Greg Lang and Vice President and Chief Financial Officer Peter Adamek will provide an overview of the second quarter 2026 financial results. The discussion will also cover activities, latest developments in the advancement of the Donlin Gold Bankable Feasibility Study, community engagement efforts, and environmental stewardship initiatives.

Investors can submit questions prior to the call at info@novagold.com . There will also be an opportunity to ask questions during the webcast following the presentation.

The video webcast and conference call-in details are provided below:

The webcast will be archived on NOVAGOLD's website for one year. A transcript of the call will be available at https://www.novagold.com/investors/presentations/ or upon request via email.