06:54 AM EDT, 06/04/2025 (MT Newswires) -- Barrick Mining ( B ) (ABX.TO, B) overnight Tuesday said it completed the sale of its 50% interest in the Donlin Gold Project in Alaska to affiliates of Paulson Advisers and NOVAGOLD Resources ( NG ) for US$1 billion in cash.

In the deal, NOVAGOLD increased its stake in Donlin Gold to 60% from 50% while Paulson Advisers acquired a 40% stake, the two buyers said in a statement.

"We look forward to providing updates on the key milestones in the coming months, starting with our revamped and determined efforts regarding the Feasibility Study workstream," said NOVAGOLD Chief Executive Greg Lang.

In U.S. pre-market trading, Barrick Mining ( B ) was last seen up 0.4% at US$20.17 while NOVAGOLD was up about 1.6% at US$3.83.