Galore Creek Transaction

 

Galore Creek is located in the traditional territory of the Tahltan Nation in northwestern British Columbia, Canada, approximately 150 kilometers northwest of Stewart.

NOVAGOLD Resources completed the sale of its 50% stake in the Galore Creek project (“GCP”) to Newmont on July 27^th, 2018.

Under the terms of the July 2018 Agreement, total consideration payable by Newmont was up to $275 million. NOVAGOLD received $100 million upon closing and $75 million on July 27^th, 2021. The remaining amounts related to the 2018 sale of the GCP are payable as follows:

• $25 million upon the earlier of: (i) completion of a project feasibility study prepared by or for GCP, or (ii) five (5) years from the closing date on July 27, 2023; and,
• $75 million contingent upon GCP construction approval.

News

July 28, 2021
NOVAGOLD Receives $75 Million from Newmont Corporation
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July 26, 2018
NOVAGOLD Enters Agreement to Sell Its 50% Stake in Galore Creek to Newmont for up to $275 Million
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July 27, 2018
NOVAGOLD Announces Closing of Galore Creek Transaction
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