Overview

• Barrick Gold Corporation has agreed to sell its 50% interest in Alaska's Donlin Gold Project for $1 billion in cash to affiliates of Paulson Advisers LLC and NOVAGOLD Resources Inc.
• NOVAGOLD has been granted an option to purchase the outstanding project debt for $90 million pre-closing or $100 million within 18 months post-closing.
• Paulson and NOVAGOLD will acquire 80% and 20% of Barrick's interest, respectively, with pro-rata contributions and backstopping by existing shareholders.
• Proceeds from the sale will strengthen Barrick's balance sheet, fund future growth initiatives, and support shareholder returns.
• The transaction is subject to regulatory approvals and customary closing conditions, with completion expected by late Q2 or early Q3 2025.