# NOVAGOLD & Paulson Select Fluor as Donlin Gold's Partner to Lead Bankable Feasibility Study Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/novagold-paulson-select-fluor-as-donlin-gold-s-partner-to-lead-bankable-feasibil--69183071-b542-4675-b6e5-cbbf3cf9643e Original source: https://money.tmx.com/en/quote/NG/news/8206991220300473/novagold-paulson-select-fluor-as-donlin-gold-s-partner-to-lead-bankable-feasibil Publisher: tmx Original announcement: 2026-02-09T13:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: NOVAGOLD RESOURCES INC. - Ticker: NG - Exchange: TSX - Region: Alaska - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update, Agreement transaction - Extracted: 2026-09-12 15:08:23 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary NOVAGOLD and Paulson have selected Fluor Corporation to lead the Bankable Feasibility Study \(BFS\) for the Donlin Gold project in Alaska, with completion expected in 2027. The project is a large-scale gold deposit with approximately 40 million ounces of gold in Measured and Indicated resources. Reasoning: The appointment of Fluor to lead the Bankable Feasibility Study \(BFS\) is a major de-risking milestone for the Donlin Gold project, moving it closer to development. - Positive factor: Selection of top-tier engineering firm Fluor to lead BFS - Positive factor: Project advancing toward financing and development - Positive factor: Large-scale resource and reserve base confirmed Facts used in scoring: 4 ## Classification and evidence **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document provides detailed breakdown of Measured, Indicated, Proven, and Probable resource/reserve categories for Donlin Gold. Evidence · text > Donlin Gold possesses Measured Resources of approximately 9 Mt grading 2.67 g/t **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate is explicitly stated to be prepared in accordance with NI 43-101. Evidence · text > Mineral Reserve and Resources have been estimated in accordance with NI 43-101 ## Extracted facts Stored fact records: 4. Some facts used in scoring do not have a stored record. ## Resource Estimates (4) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/novagold-paulson-select-fluor-as-donlin-gold-s-partner-to-lead-bankable-feasibil--69183071-b542-4675-b6e5-cbbf3cf9643e#fact-resource-facts-0) Donlin Gold · gold #### Identity - Project: Donlin Gold - Commodity: gold - Region: usa\_ak - Reported Region: Alaska - Ticker: NG #### Resource scope - Estimate type: resource - Effective date: 2025-11-30T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - Resource group id: resource:4d31efa067787c2058a6 - Deposit or zone: Donlin Gold - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: measured - Tonnes: 9000000 - Grade: 2.67 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2025-11-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-09T00:00:00.000Z Reasoning: Measured resource component of the Donlin Gold project. - Positive factor: High grade for measured category Evidence · text > Donlin Gold possesses Measured Resources of approximately 9 Mt grading 2.67 g/t #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/novagold-paulson-select-fluor-as-donlin-gold-s-partner-to-lead-bankable-feasibil--69183071-b542-4675-b6e5-cbbf3cf9643e#fact-resource-facts-1) Donlin Gold · gold #### Identity - Project: Donlin Gold - Commodity: gold - Region: usa\_ak - Reported Region: Alaska - Ticker: NG #### Resource scope - Estimate type: resource - Effective date: 2025-11-30T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - Resource group id: resource:7da62f083f6f7dfc498d - Deposit or zone: Donlin Gold - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 551000000 - Grade: 2.21 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2025-11-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-09T00:00:00.000Z Reasoning: Indicated resource component of the Donlin Gold project. - Positive factor: Large tonnage indicated resource Evidence · text > Indicated Resources of approximately 551 Mt grading 2.21 g/t #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/novagold-paulson-select-fluor-as-donlin-gold-s-partner-to-lead-bankable-feasibil--69183071-b542-4675-b6e5-cbbf3cf9643e#fact-resource-facts-2) Donlin Gold · gold #### Identity - Project: Donlin Gold - Commodity: gold - Region: usa\_ak - Reported Region: Alaska - Ticker: NG #### Resource scope - Estimate type: reserve - Effective date: 2025-11-30T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - Resource group id: resource:03b739a357069d5c4d2e - Deposit or zone: Donlin Gold - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: proven - Tonnes: 9000000 - Grade: 2.29 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2025-11-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-09T00:00:00.000Z Reasoning: Proven reserve component of the Donlin Gold project. - Positive factor: Proven reserve status Evidence · text > Donlin Gold possesses Proven Reserves of approximately 9 Mt grading 2.29 g/t #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/novagold-paulson-select-fluor-as-donlin-gold-s-partner-to-lead-bankable-feasibil--69183071-b542-4675-b6e5-cbbf3cf9643e#fact-resource-facts-3) Donlin Gold · gold #### Identity - Project: Donlin Gold - Commodity: gold - Region: usa\_ak - Reported Region: Alaska - Ticker: NG #### Resource scope - Estimate type: reserve - Effective date: 2025-11-30T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - Resource group id: resource:62f9ab6d83e14b122dec - Deposit or zone: Donlin Gold - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: probable - Tonnes: 495000000 - Grade: 2.02 - Grade Unit: g/t #### Prior Estimate - Resource Date: 2025-11-30 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-02-09T00:00:00.000Z Reasoning: Probable reserve component of the Donlin Gold project. - Positive factor: Large tonnage probable reserve Evidence · text > Probable Reserves of approximately 495 Mt grading 2.02 g/t #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **No QP/CP Disclosure** Polarity: negative Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. Why it applies: no Qualified or Competent Person is named anywhere in the release **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.