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Novagold Resources Inc – ‘40FR12G’ on 10/29/03 – ‘EX-99.52’

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-99.52   —   Material Change Report of the Registrant Dated December 11, 2002


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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

December 11, 2002

Item Three - Press Release

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

Item Four - Summary of Material Change

On December 11, 2002, NovaGold Resources Inc. reported that it had received a certificate of title from Placer Dome for the assignment of a 70% interest in the Donlin Creek exploration and mining lease agreement. Placer Dome will make an option decision on the project by mid-February. NovaGold and Placer Dome are jointly funding the current program during the decision period.

NovaGold also announced that follow-up core results continue to intercept high-grade gold mineralization south and east of the Acma deposit and south of the Aurora and 400 Zones. A final comprehensive resource estimate will be completed jointly with Placer Dome in February or March upon receipt of the final assays from this season’s drill program.

Optimization metallurgical testwork is now underway with Hazen Labs and Newmont Mining Corporation’s Metallurgical Services. Initial flotation optimization studies demonstrate improved recoveries using Newmont’s patented N2TEC technology.

Item Five - Full Description of Material Change

On December 11, 2002, NovaGold Resources Inc. reported that it had received a certificate of title from Placer Dome for the assignment of a 70% interest in the Donlin Creek exploration and mining lease agreement. Placer Dome will make an option decision on the project by mid-


February. NovaGold and Placer Dome are jointly funding the current program during the decision period.

NovaGold also announced that follow-up core results continue to intercept high-grade gold mineralization south and east of the Acma deposit and south of the Aurora and 400 Zones. A final comprehensive resource estimate will be completed jointly with Placer Dome in February or March upon receipt of the final assays from this season’s drill program.

Optimization metallurgical testwork is now underway with Hazen Labs and Newmont Mining Corporation’s Metallurgical Services. Initial flotation optimization studies demonstrate improved recoveries using Newmont’s patented N2TEC technology.

NovaGold Receives Title to 70% Interest in the Donlin Creek Project

NovaGold has received an assignment of title from Placer Dome for a 70% interest in the Donlin Creek exploration and mining lease agreements with the underlying property owners Calista Corporation and the Kuskokwim Corporation. NovaGold earned its 70% interest in the deposit by investing US$10 million in exploration and development of the Donlin Creek Project over the past 15 months. Placer Dome now has until mid-February 2003 to determine its future level of participation in the project (see previous NovaGold news release on November 26th 2002).

Under any of the option scenarios, NovaGold shareholders should see considerable added value as Donlin Creek’s gold resources continue to expand and as the project advances through Pre-Feasibility, Feasibility and into production at potentially over 1 million ounces of gold per year. At the currently envisioned production levels, NovaGold’s potential annual share of gold production would likely range from 200,000 to 400,000 ounces of gold per year.

2002 Drill Program Completed, Comprehensive Resource Estimate in Progress

The last of the delineation core drilling at Donlin Creek has been completed for the 2002 drill program. The in-fill drilling to upgrade the new resource areas continues to return excellent results. The gold mineralization intercepted during the fall program should add significant additional resource ounces to the previously released interim resource update. The drilling should also upgrade a significant portion of the new high-grade gold mineralization at the Akivik, Aurora, 400, Acma and South Acma zones to the Measured and Indicated resource categories. Following the receipt of the final drill assay results in January a comprehensive resource estimate will be completed jointly with Placer Dome in February or March of 2003.

Current results include very strong holes from the South Acma area including DC02-869 that intersected 5 significant zones including 19.9 meters grading 6.73 g/t, and DC02-870 with 4 significant zones including 62.0 meters grading 6.76 g/t gold. Results from the East Acma area included DR02-837 with 12.2 meters grading 6.75 g/t, DC02-878 with 16.3 meters grading 13.31 g/t, DC02-881 with 17.2 meters grading 6.21 g/t and DC02-882 with 31.4 meters grading 5.42 g/t gold. The results from both South and East Acma have significantly extended the known mineralization to depth and along the length of the system.


During the 2002 program, NovaGold completed 347 drill holes (195 core holes and 152 rotary holes) for a total of 51,009 meters (167,352 feet). This includes 39,158 meters (128,472 feet) of core drilling and 11,851 meters (38,880 feet) of rotary drilling in 2002. 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 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.

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

Optimizing Metallurgical Studies in Progress, Excellent Initial Results Received

Since 1996 a series of comprehensive metallurgical test programs have been completed on the Donlin Creek deposit by Placer Dome Technical Services and several independent laboratories. These programs have demonstrated that gold recoveries in excess of 90% are achievable using conventional sulfide flotation concentration followed by oxidation of the concentrate and cyanidation for gold recovery. These metallurgical studies have included bench-scale grinding, flotation, pressure oxidation, bio-oxidation and carbon-in-leach (CIL) cyanidation recovery.

As part of the independent Preliminary Economic Assessment Study released March 2002, AMEC E&C Services Limited of Vancouver reviewed the previous metallurgical programs and identified a number of opportunities to enhance the overall gold recoveries through process optimization. These include optimizing the grind size, flotation recovery, and leaching recovering processes – particularly for the sediment hosted mineralization.

Based on the recommendations by AMEC, NovaGold has engaged Hazen Labs and Newmont Mining Corporation’s Metallurgical Services both of Denver, Colorado to complete a series of additional metallurgical studies to look at process optimization. These programs will consist of additional ore characterization and refinement of bench-scale batch flotation and pressure oxidation and cyanidation test work. The results of these tests will define the recovery projections and process flow-sheet for the Pre-Feasibility Study and for subsequent continuous pilot-plant work in the Feasibility stage.

Initial results from Newmont Metallurgical Services, using their patented N2TEC flotation process are very encouraging with recoveries from intrusive material averaging 96% and sediment hosted ore averaging 90%. These flotation recoveries confirm the results of previous studies by Placer Dome and represent an improvement over the average figures used in the March 2002 Preliminary Economic Assessment Study. Hazen Labs is currently completing other flotation optimization studies in parallel with the work being completed by Newmont. The


results of these studies will be evaluated in January to develop an optimal process flow-sheet and recoveries to be used in the Pre-Feasibility Study due mid-year.

About NovaGold

A diversified natural resource company, NovaGold acquires and develops precious metal deposits in North America. NovaGold has over $20 million in cash, no debt, and one of the largest unhedged gold resource bases of any gold exploration 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 Market (symbol NVGLF). Annual and quarterly financial reports, news releases and other information are available online 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 11th day of December, 2002 at Halifax, Nova Scotia by Janice A. Stairs, Corporate Secretary.





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

NovaGold Finishes 2002 Drilling At Donlin

December 11th, 2002, Vancouver – NovaGold Resources Inc.

Highlights

NovaGold Receives Title to 70% Interest in the Donlin Creek Project

NovaGold has received an assignment of title from Placer Dome for a 70% interest in the Donlin Creek exploration and mining lease agreements with the underlying property owners Calista Corporation and the Kuskokwim Corporation. NovaGold earned its 70% interest in the deposit by investing US$10 million in exploration and development of the Donlin Creek Project over the past 15 months. Placer Dome now has until mid-February 2003 to determine its future level of participation in the project (see previous NovaGold news release on November 26th 2002). Under any of the option scenarios, NovaGold shareholders should see considerable added value as Donlin Creek’s gold resources continue to expand and as the project advances through Pre-Feasibility, Feasibility and into production at potentially over 1 million ounces of gold per year. At the currently envisioned production levels, NovaGold’s potential annual share of gold production would likely range from 200,000 to 400,000 ounces of gold per year.

2002 Drill Program Completed, Comprehensive Resource Estimate in Progress

The last of the delineation core drilling at Donlin Creek has been completed for the 2002 drill program. The in-fill drilling to upgrade the new resource areas continues to return excellent results. The gold mineralization intercepted during the fall program should add significant additional resource ounces to the previously released interim resource update. The drilling should also upgrade a significant portion of the new high-grade gold mineralization at the Akivik, Aurora, 400, Acma and South Acma zones to the Measured and Indicated resource categories. Following the receipt of the final drill assay results in January a comprehensive resource estimate will be completed jointly with Placer Dome in February or March of 2003.

Current results include very strong holes from the South Acma area including DC02-869 that intersected 5 significant zones including 19.9 meters grading 6.73 g/t, and DC02-870 with 4 significant zones including 62.0 meters grading 6.76 g/t gold. Results from the East Acma area included DR02-837 with 12.2 meters grading 6.75 g/t, DC02-878 with 16.3 meters grading 13.31 g/t, DC02-881 with 17.2 meters grading 6.21 g/t and DC02-882 with 31.4 meters grading 5.42 g/t gold. The results from both South and East Acma have significantly extended the known mineralization to depth and along the length of the system.

During the 2002 program, NovaGold completed 347 drill holes (195 core holes and 152 rotary holes) for a total of 51,009 meters (167,352 feet). This includes 39,158 meters (128,472 feet) of core drilling and 11,851 meters (38,880 feet) of rotary drilling in 2002.




New Donlin Creek Summary Drill Results and Sample Protocol
                             
        Length   Gold   Length   Gold        
DHID   Interval(m)   (m)   (g/t)   (ft)   (oz/t)   Type   Area
DR02-837>   70.1 to 82.3   12.2   6.75   40.0   0.20   rotary   East Acma
DC02-869   106.1 to 126.0   19.9   6.73   65.3   0.20   Core   South Acma
    179.0 to 194.0   15.0   4.08   49.2   0.12   Core    
    211.7 to 250.0   38.3   3.92   125.6   0.11   Core    
    256.0 to 263.6   7.6   4.07   24.9   0.12   Core    
    286.8 to 329.6   42.8   3.83   140.5   0.11   Core    
DC02-870   74.0 to 80.1   6.1   6.40   20.1   0.19   Core   South Acma
    181.3 to 254.0   72.7   2.94   238.5   0.09   Core    
    296.0 to 358.0   62.0   6.76   203.4   0.20   Core    
    386.0 to 406.0   20.0   5.32   65.6   0.16   Core    
DC02-872   238.0 to 246.0   8.0   4.39   26.3   0.13   Core   South Acma
    254.0 to 260.0   6.0   4.85   19.7   0.14   Core    
DC02-874   10.0 to 16.0   6.0   3.33   19.7   0.10   Core   East Acma
DC02-875   377.0 to 405.7   28.7   4.89   94.2   0.14   Core   South Aurora
DC02-878*   52.0 to 56.0   4.0   5.64   13.1   0.16   Core   East Acma
    155.8 to 172.0   16.3   13.31   53.3   0.39   Core    
    218.0 to 226.4   8.4   3.96   27.7   0.12   Core    
DC02-879   6.5 to 9.0   2.5   5.84   8.2   0.17   Core   South 400
    46.0 to 48.0   2.0   6.91   6.6   0.20   Core    
    95.0 to 107.0   12.0   3.19   39.4   0.09   Core    
    183.0 to 189.0   6.0   4.99   19.7   0.15   Core    
DC02-881*   104.0 to 121.2   17.2   6.21   56.43   0.18   Core   East Acma
    134.4 to 138.0   3.6   4.32   11.81   0.13   Core    
    164.0 to 168.0   4.0   10.32   13.12   0.30   Core    
DC02-882   85.5 to 116.9   31.4   5.42   103.02   0.16   Core   East Acma
DC02-887*   27.5 to 30.1   2.6   7.28   8.56   0.21   Core   North of Acma
DC02-888*   14.9 to 19.0   4.1   5.08   13.29   0.15   Core   North of Acma
DC02-889*   69.0 to 71.0   2.0   9.46   6.56   0.28   Core   North of Acma
    83.9 to 88.6   4.7   11.11   15.35   0.32   Core    
DC02-890   61.5 to 73.0   11.5   3.17   37.83   0.09   Core   North Aurora
    104.0 to 108.1   4.1   3.61   13.29   0.11   Core    
    153.0 to 155.0   2.0   9.63   6.56   0.28   Core    
DC02-891*   57.6 to 61.0   3.4   4.27   11.09   0.12   Core   North Aurora
    114.0 to 115.2   1.2   31.85   3.94   0.93   Core    
    125.0 to 128.0   3.0   3.84   9.84   0.11   Core    
DC02-892*   40.2 to 47.0   6.8   3.13   22.18   0.09   Core   North Aurora
    50.0 to 54.0   4.0   6.53   13.12   0.19   Core    
    137.0 to 149.0   12.0   3.55   39.37   0.10   Core    
DC02-893   107.7 to 115.0   7.3   2.95   23.85   0.09   Core   North Aurora

The drill program and sampling protocol are managed by NovaGold with oversight provided by 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.

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

Optimizing Metallurgical Studies in Progress, Excellent Initial Results Received


Since 1996 a series of comprehensive metallurgical test programs have been completed on the Donlin Creek deposit by Placer Dome Technical Services and several independent laboratories. These programs have demonstrated that gold recoveries in excess of 90% are achievable using conventional sulfide flotation concentration followed by oxidation of the concentrate and cyanidation for gold recovery. These metallurgical studies have included bench-scale grinding, flotation, pressure oxidation, bio-oxidation and carbon-in-leach (CIL) cyanidation recovery. As part of the independent Preliminary Economic Assessment Study released March 2002, AMEC E&C Services Limited of Vancouver reviewed the previous metallurgical programs and identified a number of opportunities to enhance the overall gold recoveries through process optimization. These include optimizing the grind size, flotation recovery, and leaching recovering processes –particularly for the sediment hosted mineralization.

Based on the recommendations by AMEC, NovaGold has engaged Hazen Labs and Newmont Mining Corporation’s Metallurgical Services both of Denver, Colorado to complete a series of additional metallurgical studies to look at process optimization. These programs will consist of additional ore characterization and refinement of bench-scale batch flotation and pressure oxidation and cyanidation test work. The results of these tests will define the recovery projections and process flow-sheet for the Pre-Feasibility Study and for subsequent continuous pilot-plant work in the Feasibility stage.

Initial results from Newmont Metallurgical Services, using their patented N2TEC flotation process are very encouraging with recoveries from intrusive material averaging 96% and sediment hosted ore averaging 90%. These flotation recoveries confirm the results of previous studies by Placer Dome and represent an improvement over the average figures used in the March 2002 Preliminary Economic Assessment Study. Hazen Labs is currently completing other flotation optimization studies in parallel with the work being completed by Newmont. The results of these studies will be evaluated in January to develop an optimal process flow-sheet and recoveries to be used in the Pre-Feasibility Study due mid-year.

About NovaGold

A diversified natural resource company, NovaGold acquires and develops precious metal deposits in North America. NovaGold has over $20 million in cash, no debt, and one of the largest unhedged gold resource bases of any gold exploration 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 Market (symbol NVGLF). Annual and quarterly financial reports, news releases and other information are available online 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



Dates Referenced Herein

This ‘40FR12G’ Filing    Date    Other Filings
Filed on:10/29/03None on these Dates
12/11/02
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Filing Submission 0001062993-03-001067   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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