08:56 AM EDT, 04/01/2026 (MT Newswires) -- NovaGold Resources ( NG ) (NG.TO, NG), a development-stage company with no production, on Wednesday posted a fiscal Q1 2026 net loss of US$0.04 a share, reflecting higher expenditures at the Donlin Gold project in Alaska, which remains its "primary focus" for 2026.

The company said it held approximately $392.5 million in cash and term deposits as of February 28, 2026, and reported net first quarter operational cash expenditures of $20.8 million, reflecting $15.5 million to fund NOVAGOLD's share of the Donlin Gold project and $5.3 million in corporate general and administrative costs.

The company said in 2026, Donlin Gold's primary focus remains on "progressing" the BFS and "enhancing the project's long-term potential".

It added: "Core priorities include advancing engineering and technical workstreams, pursuing exploration to identify district-wide opportunities, and evaluating potential financing options. Engineering efforts, led by Fluor, are advancing workstreams and integrating inputs from Specialist Contractors into a comprehensive framework for engineering, cost, and schedule, targeted for completion in 2027."

In April 2025, NovaGold agreed to acquire a 10% interest in Donlin Gold LLC from Barrick Mining (ABX.TO) for US$200 million, increasing NovaGold's project stake to 50% to 60%. Paulson Advisers LLC also agreed to acquire a 40% stake in Donlin Gold from Barrick for $800 million.