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Novagold Resources Inc – ‘40FR12G’ on 10/29/03 – ‘EX-99.54’

On:  Wednesday, 10/29/03, at 5:20pm ET   ·   Accession #:  1062993-3-1067   ·   File #:  0-50443

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

10/29/03  Novagold Resources Inc            40FR12G               91:19M                                    Newsfile Corp/FA

Registration of Securities of a Canadian Issuer — SEA’34 §12(g)   —   Form 40-F
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 40FR12G     Registration Statement Pursuant to Section 12 of    HTML     79K 
                          the Securities Exchange Act of 1934                    
 2: EX-99.1     Revised Initial Annual Information Form of the      HTML    228K 
                          Registrant Dated July 22, 2003                         
11: EX-99.10    Quarterly Report of the Registrant for the Six      HTML    137K 
                          Months Ended May 31, 2002                              
12: EX-99.11    Quarterly Report of the Registrant for the Three    HTML    139K 
                          Months Ended February 28, 2002                         
13: EX-99.12    Management Information Circular of the Registrant   HTML    101K 
                          Dated April 14, 2003                                   
14: EX-99.13    Form of Proxy for Use in Connection With the May    HTML     35K 
                          28, 2003 Annual and Special Meeting                    
15: EX-99.14    Management Information Circular of the Registrant   HTML     98K 
                          Dated April 15, 2002                                   
16: EX-99.15    Form of Proxy for Use in Connection With the May    HTML     33K 
                          22, 2002 Annual and Special Meeting                    
17: EX-99.16    Final Short Form Prospectus Dated September 25,     HTML    159K 
                          2003                                                   
18: EX-99.17    Underwriting Agreement Dated September 15, 2003     HTML    221K 
19: EX-99.18    Warrant Indenture Dated October 1, 2003             HTML    309K 
20: EX-99.19    Report Dated August 13, 2003, as Amended September  HTML    619K 
                          22, 2003                                               
 3: EX-99.2     Annual Information Form of the Registrant Dated     HTML    422K 
                          April 17, 2002                                         
21: EX-99.20    Qualifying Certificate of Ken Kuchling Dated        HTML     30K 
                          September 22, 2003                                     
22: EX-99.21    Report Dated April 16, 2002                         HTML    161K 
23: EX-99.22    Qualifying Certificate of Curtis J. Freeman Dated   HTML     29K 
                          April 16, 2002                                         
24: EX-99.23    Report Dated April 15, 2002                         HTML     88K 
25: EX-99.24    Qualifying Certificate of Curtis J. Freeman Dated   HTML     29K 
                          April 15, 2002                                         
26: EX-99.25    Report Dated April 1, 2002                          HTML    109K 
27: EX-99.26    Qualifying Certificate of Curtis J. Freeman Dated   HTML     29K 
                          April 1, 2002                                          
28: EX-99.27    Report Dated March 2002                             HTML    600K 
29: EX-99.28    Qualifying Certificate of Stephen B. Hodgson Dated  HTML     27K 
                          March 8, 2002                                          
30: EX-99.29    Qualifying Certificate of Stephen Juras Dated       HTML     28K 
                          March 8, 2002                                          
 4: EX-99.3     Annual Report of the Registrant for the Year Ended  HTML    281K 
                          November 30, 2002                                      
31: EX-99.30    Report Dated February 2002                          HTML    264K 
32: EX-99.30.A  Appendix A of Report Dated February 2002            HTML     26K 
33: EX-99.30.B  Appendix B of Report Dated February 2002            HTML   1.29M 
34: EX-99.30.C  Appendix C of Report Dated February 2002            HTML     60K 
35: EX-99.30.D  Appendix D of Report Dated February 2002            HTML     25K 
36: EX-99.31    Qualifying Certificate of Stephen Juras Dated       HTML     28K 
                          February 25, 2002                                      
37: EX-99.32    Material Change Report of the Registrant Dated      HTML     33K 
                          October 24, 2003                                       
38: EX-99.33    Press Release Dated October 23, 2003                HTML     31K 
39: EX-99.34    Material Change Report of the Registrant Dated      HTML     36K 
                          October 16, 2003                                       
40: EX-99.35    Material Change Report of the Registrant Dated      HTML     48K 
                          October 10, 2003                                       
41: EX-99.36    Material Change Report of the Registrant Dated      HTML     36K 
                          October 2, 2003                                        
42: EX-99.37    Material Change Report of the Registrant Dated      HTML     36K 
                          September 12, 2003                                     
43: EX-99.38    Material Change Report of the Registrant Dated      HTML     46K 
                          August 13, 2003                                        
44: EX-99.39    Material Change Report of the Registrant Dated      HTML     45K 
                          August 11, 2003                                        
 5: EX-99.4     Annual Report of the Registrant for the Year Ended  HTML    294K 
                          November 30, 2001                                      
45: EX-99.40    Material Change Report of the Registrant Dated      HTML     63K 
                          August 7, 2003                                         
46: EX-99.41    Material Change Report of the Registrant Dated      HTML     39K 
                          July 30, 2003                                          
47: EX-99.42    Material Change Report of the Registrant Dated      HTML     42K 
                          July 3, 2003                                           
48: EX-99.43    Material Change Report of the Registrant Dated      HTML     59K 
                          June 4, 2003                                           
49: EX-99.44    Material Change Report of the Registrant Dated May  HTML     34K 
                          1, 2003                                                
50: EX-99.45    Material Change Report of the Registrant Dated      HTML     46K 
                          April 28, 2003                                         
51: EX-99.46    Material Change Report of the Registrant Dated      HTML     47K 
                          April 9, 2003                                          
52: EX-99.47    Press Release of the Registrant Dated February 25,  HTML     30K 
                          2003                                                   
53: EX-99.48    Material Change Report of the Registrant Dated      HTML     44K 
                          February 11, 2003                                      
54: EX-99.49    Material Change Report of the Registrant Dated      HTML     70K 
                          February 6, 2003                                       
 6: EX-99.5     U.S. Gaap Reconciliation Which Includes Audited     HTML    279K 
                          Comparative Financial Statements                       
55: EX-99.50    Material Change Report of the Registrant Dated      HTML     92K 
                          January 30, 2003                                       
56: EX-99.51    Material Change Report of the Registrant Dated      HTML     37K 
                          December 30, 2002                                      
57: EX-99.52    Material Change Report of the Registrant Dated      HTML     72K 
                          December 11, 2002                                      
58: EX-99.53    Material Change Report of the Registrant Dated      HTML     55K 
                          November 26, 2002                                      
59: EX-99.54    Material Change Report of the Registrant Dated      HTML     65K 
                          November 14, 2002                                      
60: EX-99.55    Material Change Report of the Registrant Dated      HTML     70K 
                          October 3, 2002                                        
61: EX-99.56    Material Change Report of the Registrant Dated      HTML     37K 
                          September 19, 2002                                     
62: EX-99.57    Material Change Report of the Registrant Dated      HTML     54K 
                          September 13, 2002                                     
63: EX-99.58    Press Release of the Registrant Dated September 9,  HTML     28K 
                          2002                                                   
64: EX-99.59    Material Change Report of the Registrant Dated      HTML     35K 
                          September 5, 2002                                      
 7: EX-99.6     U.S. Gaap Supplement to Management Discussion and   HTML     42K 
                          Analysis                                               
65: EX-99.60    Material Change Report of the Registrant Dated      HTML     80K 
                          September 4, 2002                                      
66: EX-99.61    Material Change Report of the Registrant Dated      HTML     51K 
                          August 7, 2002                                         
67: EX-99.62    Material Change Report of the Registrant Dated      HTML     74K 
                          July 16, 2002                                          
68: EX-99.63    Material Change Report of the Registrant Dated      HTML     57K 
                          June 5, 2002                                           
69: EX-99.64    Material Change Report of the Registrant Dated May  HTML     76K 
                          22, 2002                                               
70: EX-99.65    Material Change Report of the Registrant Dated      HTML     43K 
                          April 30, 2002                                         
71: EX-99.66    Material Change Report of the Registrant Dated      HTML     42K 
                          April 18, 2002                                         
72: EX-99.67    Material Change Report of the Registrant Dated      HTML     37K 
                          March 26, 2002                                         
73: EX-99.68    Material Change Report of the Registrant Dated      HTML     78K 
                          March 15, 2002                                         
74: EX-99.69    Material Change Report of the Registrant Dated      HTML     56K 
                          February 18, 2002                                      
 8: EX-99.7     Quarterly Report of the Registrant for the Six      HTML    110K 
                          Months Ended May 31, 2003                              
75: EX-99.70    Material Change Report of the Registrant Dated      HTML     55K 
                          January 24, 2002                                       
76: EX-99.71    Consent of Pricewaterhousecoopers LLP               HTML     25K 
77: EX-99.72    Consent of Ken Kuchling                             HTML     26K 
78: EX-99.73    Consent of Curtis J. Freeman                        HTML     28K 
79: EX-99.74    Consent of Stephen B. Hodgson                       HTML     27K 
80: EX-99.75    Consent of Stephen Juras                            HTML     28K 
81: EX-99.76    Consent of Phillip St. George                       HTML     29K 
82: EX-99.77    Consent of Harry Parker                             HTML     27K 
83: EX-99.78    Consent of Norm Johnson                             HTML     27K 
84: EX-99.79    Consent of Norwest Corporation                      HTML     27K 
 9: EX-99.8     Quarterly Report of the Registrant for the Three    HTML    121K 
                          Months Ended February 28, 2003                         
85: EX-99.80    Consent of Avalon Development Corporation           HTML     27K 
86: EX-99.81    Consent of Amec E&C Services Limited                HTML     30K 
87: EX-99.82    Consent of Kennecott Exploration Company            HTML     26K 
88: EX-99.83    Consent of Newmont Mining Corporation               HTML     27K 
89: EX-99.84    Consent of Placer Dome Inc.                         HTML     27K 
90: EX-99.85    Consent of Mark Jutras                              HTML     27K 
91: EX-99.86    Consent of Robert Prevost                           HTML     27K 
10: EX-99.9     Quarterly Report of the Registrant for the Nine     HTML    148K 
                          Months Ended August 31, 2002                           


EX-99.54   —   Material Change Report of the Registrant Dated November 14, 2002


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



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FORM 27
MATERIAL CHANGE REPORT

SECTION 75(2) OF SECURITIES ACT (ONTARIO),
SECTION 84(1)(b) OF THE SECURITIES ACT (SASKATCHEWAN),
SECTION 118(1) OF SECURITIES ACT (ALBERTA),
SECTION 67(1) OF SECURITIES ACT (BRITISH COLUMBIA),
SECTION 81(2) OF THE SECURITIES ACT (NOVA SCOTIA),
SECTION 76(2) OF SECURITIES ACT (NEWFOUNDLAND).

Item One - Reporting Issuer

NovaGold Resources Inc.
127 Via de Tesoros
Los Gatos, California 95032

Item Two - Date of Material Change

November 14, 2002

Item Three - Press Release

The attached press release was issued in Vancouver, British Columbia.

Item Four - Summary of Material Change

On November 14, 2002, NovaGold Resources Inc. reported results from the continuing Pre-Feasibility and exploration program at the Donlin Creek gold deposit.

Item Five - Full Description of Material Change

Highlights


Independent Expenditure Review Completed for 70% NovaGold Earn-In

NovaGold has completed its required US$10 million expenditure requirement to earn a 70% interest in the Donlin Creek Project from Placer Dome. An independent review of the expenditure statement has been completed and Placer Dome has been given notice of NovaGold’s earn-in on the project. NovaGold completed its 70% earn-in in just 15 months after signing the final agreements with Placer Dome. The Company had up to 10 years to complete its earn-in on the project. NovaGold’s accelerated exploration program more than doubled the higher grade contained gold estimates at the Donlin Creek gold project and a preliminary independent economic assessment study completed last spring confirmed that the project may be developed into a major new gold producer that, with additional exploration and engineering work, could produce one million ounces of gold per year.

With NovaGold’s vesting into the Donlin Creek Project, a joint venture between NovaGold (70%) and Placer Dome (30%) has been established. Placer Dome now has 90 days to decide on one of three options: 1) to remain at a 30% interest and contribute at that level through the development of the project; or 2) to convert to a non-contributing 5% Net Profits Interest; or 3) to undertake to exercise a back-in right to re-acquire an additional 40% interest in the project by completing all of the following conditions within the next 5 years: a) expending a minimum of US$30 million toward project development; b) completing a bankable feasibility study; and c) committing to build a mine that produces not less than 600,000 ounces of gold per year. Placer Dome would not earn any additional interest in the project above their 30% unless all of the above conditions are met within the 5 year timeframe. NovaGold would not be required to contribute any additional funding up to the $30 million and at NovaGold’s election Placer Dome would arrange construction financing for NovaGold’s share of the mine development costs that would be repaid out of future mine cash flow.

Under the back-in scenario NovaGold shareholders should greatly benefit by having this world-class gold mine taken into production without the need for any shareholder dilution. Under either scenario NovaGold shareholders should see considerable additional share value as the project’s gold resource continues to expand and as the project advances through Pre-Feasibility, Feasibility and into production.

Acma Expansion Drilling Continues to Hits Outstanding Results, Further Improving the Project Economics

The results from the 100 meter by 100 meter step-out expansion drilling directly south of the Acma deposit have continued to hit very exciting gold mineralization. Drilling highlights include: DC02-865 that intersected 24.0 meters grading 7.0 g/t gold; DC02-866 with 46.4 meters grading 4.9 g/t and 15.0 meters grading 12.8 g/t; and DC02-867 with 12.0 meters grading 11.0 g/t. Using only intervals greater than 3 g/t gold, drill hole DC02-866 returned a total contained gold grade-thickness of over 700 gram-meters. This is the equivalent of a combined intercept of more than 200 meters grading 3 g/t gold (650 feet grading 0.1 oz/t). These results should further strengthen the project economics by adding new gold resource ounces in areas that fall within the modeled pits but previously only had limited drill data.


Additional follow-up drilling at the new Aurora discovery has continued to intersect promising high-grade gold mineralization as well. Follow-up drilling with the 4 core drills on site will continue into December. The joint-venture plans to spend US$2.9 million during the next 3 months to upgrade the new high-grade, shallow gold mineralization at the Akivik, Aurora, 400, and South Acma zones to a 50 meter by 50 meter spaced infill drill density. Following the conclusion of drilling and the receipt of the final assay results a comprehensive resource estimate will be completed jointly with Placer Dome in February or March of 2003.

Drill hole location maps showing the Donlin Creek target areas are available for download on the NovaGold website at the following link: http://www.novagold.net/s/Projects.asp?PropertyInfoID=880. A table entitled "New Donlin Creek Summary Drill Results and Sample Protocol" was included in the press release.

The drill program and sampling protocol are managed by NovaGold with oversight provided by Qualified Person Phil St. George, Vice President of Exploration and Project Manager for NovaGold Resources. Database quality control and quality assurance standards are overseen by independent engineering firm AMEC E&C Services Limited of Vancouver. All drill samples were analyzed by fire assay at ALS Chemex Labs in Vancouver, B.C., Canada. Drill holes marked with an asterisk indicate some final assays are still pending.

Interim Resource Estimate Update Being Finalized

Work is nearly complete on an interim resource estimate for the newly defined resource areas including the Akivik, Aurora and 400 target areas. These new resource areas were discovered during this years drill program and are outside of the main Acma and Lewis deposit areas which were reported in the spring 2002 scoping study. Due to the wide spaced 100 meter by 100 meter drill spacing these resources will be reported in this interim estimate as additional Inferred category resources. The total Measured and Indicated Resource as defined in the March 2002 Scoping Study using a 2 g/t gold cut-off grade is estimated to be 8.3 million ounces grading 3.51 g/t gold with an additional Inferred Resource of 10.9 million ounces grading 3.66 g/t gold.

The objective of the remainder of this seasons drill program will be to upgrade at least part of these new resources to the higher Measured and Indicated categories in preparation for the Pre-Feasibility Study next year. The last of the quality control and quality assurance standards and duplicate assay checks for the interim resource update have now been received from assay labs. The final estimation work on these new additional resources should be complete within the next two weeks at which time the Company will release updated estimates.

In other company news, Mr. Walter Segsworth will step down as a director of the Company. The management of NovaGold extends thanks to Mr. Segsworth for his contributions and wishes him every success in his new endeavors as Co-Chairman of Cumberland Resources Ltd.


About NovaGold

A diversified natural resource company, NovaGold acquires and develops precious metal deposits in North America. NovaGold has no long-term debt, and has one of the largest gold resource bases of any junior mining company. The Company generates cash flow to fund exploration and development from its construction aggregate, gold royalties and land development operations in Nome, Alaska. Shares of NovaGold are listed on the Toronto Stock Exchange (symbol NRI). The Company’s shares also trade on the US OTC (symbol NVGLF). Financial reports including the recently released third quarter financial statements and other information are available at www.novagold.net.

Item Six - Reasons for Confidential Filing

Not Applicable.

Item Seven - Omitted Information

Not Applicable.

Item Eight - Senior Officer

Janice A. Stairs, Corporate Secretary, (902) 492-2013

Item Nine - Statement of Senior Officer

"The foregoing accurately discloses the material change referred to herein."

Executed this 18th day of November, 2002 at Halifax, Nova Scotia by Janice A. Stairs, Corporate Secretary.





News Release
Toronto Stock Exchange: NRI
U.S. OTC Symbol: NVGLF

NovaGold Earns 70% Interest in Donlin

November 14th, 2002, Vancouver – NovaGold Resources Inc. is pleased to report results from the continuing Pre-Feasibility and exploration program at the Donlin Creek gold deposit.

Highlights

Independent Expenditure Review Completed for 70% NovaGold Earn-In

NovaGold has completed its required US$10 million expenditure requirement to earn a 70% interest in the Donlin Creek Project from Placer Dome. An independent review of the expenditure statement has been completed and Placer Dome has been given notice of NovaGold’s earn-in on the project. NovaGold completed its 70% earn-in in just 15 months after signing the final agreements with Placer Dome. The Company had up to 10 years to complete its earn-in on the project. NovaGold’s accelerated exploration program more than doubled the higher grade contained gold estimates at the Donlin Creek gold project and a preliminary independent economic assessment study completed last spring confirmed that the project may be developed into a major new gold producer that, with additional exploration and engineering work, could produce one million ounces of gold per year.

With NovaGold’s vesting into the Donlin Creek Project, a joint venture between NovaGold (70%) and Placer Dome (30%) has been established. Placer Dome now has 90 days to decide on one of three options: 1) to remain at a 30% interest and contribute at that level through the development of the project; or 2) to convert to a non-contributing 5% Net Profits Interest; or 3) to undertake to exercise a back-in right to re-acquire an additional 40% interest in the project by completing all of the following conditions within the next 5 years: a) expending a minimum of US$30 million toward project development; b) completing a bankable feasibility study; and c) committing to build a mine that produces not less than 600,000 ounces of gold per year. Placer Dome would not earn any additional interest in the project above their 30% unless all of the above conditions are met within the 5 year timeframe. NovaGold would not be required to contribute any additional funding up to the $30 million and at NovaGold’s election Placer Dome would arrange construction financing for NovaGold’s share of the mine development costs that would be repaid out of future mine cash flow.

Under the back-in scenario NovaGold shareholders should greatly benefit by having this world-class gold mine taken into production without the need for any shareholder dilution. Under either scenario NovaGold shareholders should see considerable additional share value as the project’s gold resource continues to expand and as the project advances through Pre-Feasibility, Feasibility and into production.


Acma Expansion Drilling Continues to Hits Outstanding Results, Further Improving the Project Economics

The results from the 100 meter by 100 meter step-out expansion drilling directly south of the Acma deposit have continued to hit very exciting gold mineralization. Drilling highlights include: DC02-865 that intersected 24.0 meters grading 7.0 g/t gold; DC02-866 with 46.4 meters grading 4.9 g/t and 15.0 meters grading 12.8 g/t; and DC02-867 with 12.0 meters grading 11.0 g/t. Using only intervals greater than 3 g/t gold, drill hole DC02-866 returned a total contained gold grade-thickness of over 700 gram-meters. This is the equivalent of a combined intercept of more than 200 meters grading 3 g/t gold (650 feet grading 0.1 oz/t). These results should further strengthen the project economics by adding new gold resource ounces in areas that fall within the modeled pits but previously only had limited drill data.

Additional follow-up drilling at the new Aurora discovery has continued to intersect promising high-grade gold mineralization as well. Follow-up drilling with the 4 core drills on site will continue into December. The joint-venture plans to spend US$2.9 million during the next 3 months to upgrade the new high-grade, shallow gold mineralization at the Akivik, Aurora, 400, and South Acma zones to a 50 meter by 50 meter spaced infill drill density. Following the conclusion of drilling and the receipt of the final assay results a comprehensive resource estimate will be completed jointly with Placer Dome in February or March of 2003.

Drill hole location maps showing the Donlin Creek target areas are available for download on the NovaGold website at the following link: http://www.novagold.net/s/Projects.asp?PropertyInfoID=880

New Donlin Creek Summary Drill Results and Sample Protocol
                                 
        Length   Gold   Length   Gold   Type   Area   Objective
DHID   Interval(m)   (m)   (g/t)   (ft)   (oz/t)            
DC02-864   19.1 to 27.7   8.7   5.30   28.4   0.15   Core   South of Acma   Step-Out
    96.5 to 123.8   27.2   4.16   89.3   0.12            
    136.0 to 144.0   8.0   3.04   26.2   0.09            
    148.0 to 154.7   6.7   3.08   22.0   0.09            
    159.9 to 179.2   19.3   3.02   63.4   0.09            
    202.0 to 214.0   12.0   7.84   39.4   0.23            
    251.0 to 273.0   22.0   3.64   72.2   0.11            
DC02-865   62.0 to 68.1   6.1   3.49   19.9   0.10   Core   South of Acma   Step-Out
    191.0 to 203.0   12.0   3.31   39.4   0.10            
    234.0 to 243.5   9.5   3.24   31.2   0.09            
    356.0 to 380.0   24.0   7.01   78.7   0.20            
    393.2 to 402.0   8.8   3.13   28.9   0.09            
DC02-866   56.4 to 66.0   9.6   5.07   31.5   0.15   Core   South of Acma   Step-Out
    74.1to 120.5   46.4   4.91   152.3   0.14            
    162.0 to 177.0   15.0   12.75   49.0   0.37            
    308.8to 322.0   13.2   4.88   43.4   0.14            
    348.0 to 376.0   28.0   3.08   91.9   0.09            
    432.3 to 436.0   3.7   11.95   12.1   0.35            
    478.0 to 487.0   9.0   3.12   29.5   0.09            
C02-867*   205.1 to 227.0   21.9   3.45   71.8   0.10   Core   South of Acma   Step-Out
    289.6 to 312.0   22.4   3.39   73.5   0.10            
    316.4 to 322.0   5.6   4.42   18.5   0.13            
    346.0 to 358.0   12.0   11.03   39.4   0.32            
DC02-868*   93.6 to 114.8   21.2   3.84   69.6   0.11   Core   South of Acma   Step-Out


The drill program and sampling protocol are managed by NovaGold with oversight provided by Qualified Person Phil St. George, Vice President of Exploration and Project Manager for NovaGold Resources. Database quality control and quality assurance standards are overseen by independent engineering firm AMEC E&C Services Limited of Vancouver. All drill samples were analyzed by fire assay at ALS Chemex Labs in Vancouver, B.C., Canada. Drill holes marked with an asterisk indicate some final assays are still pending.

Interim Resource Estimate Update Being Finalized

Work is nearly complete on an interim resource estimate for the newly defined resource areas including the Akivik, Aurora and 400 target areas. These new resource areas were discovered during this years drill program and are outside of the main Acma and Lewis deposit areas which were reported in the spring 2002 scoping study. Due to the wide spaced 100 meter by 100 meter drill spacing these resources will be reported in this interim estimate as additional Inferred category resources. The total Measured and Indicated Resource as defined in the March 2002 Scoping Study using a 2 g/t gold cut-off grade is estimated to be 8.3 million ounces grading 3.51 g/t gold with an additional Inferred Resource of 10.9 million ounces grading 3.66 g/t gold.

The objective of the remainder of this seasons drill program will be to upgrade at least part of these new resources to the higher Measured and Indicated categories in preparation for the Pre-Feasibility Study next year. The last of the quality control and quality assurance standards and duplicate assay checks for the interim resource update have now been received from assay labs. The final estimation work on these new additional resources should be complete within the next two weeks at which time the Company will release updated estimates.

In other company news, Mr. Walter Segsworth will step down as a director of the Company. The management of NovaGold extends thanks to Mr. Segsworth for his contributions and wishes him every success in his new endeavors as Co-Chairman of Cumberland Resources Ltd.

About NovaGold

A diversified natural resource company, NovaGold acquires and develops precious metal deposits in North America. NovaGold has no long-term debt, and has one of the largest gold resource bases of any junior mining company. The Company generates cash flow to fund exploration and development from its construction aggregate, gold royalties and land development operations in Nome, Alaska. Shares of NovaGold are listed on the Toronto Stock Exchange (symbol NRI). The Company’s shares also trade on the US OTC (symbol NVGLF). Financial reports including the recently released third quarter financial statements and other information are available at www.novagold.net.

For more information on NovaGold contact:

Greg Johnson, Vice President, Corporate Development
Bellingham, Washington, USA
(907) 227-3963
E-mail: Greg.Johnson@NovaGold.net

Tony Hayes, CFA, Investor Relations
Toronto, Ontario, Canada
(416) 368-0882; Toll Free 1 (866) 243-1059
E-mail: Tony.Hayes@NovaGold.net



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