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Novagold Resources Inc – ‘40FR12G’ on 10/29/03 – ‘EX-99.64’

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-99.64   —   Material Change Report of the Registrant Dated May 22, 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.
PO Box 2020, 48 Gerrish Street
Windsor NS B0N 2T0

Item Two - Date of Material Change

May 22, 2002

Item Three - Press Release

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

Item Four - Summary of Material Change

On May 22, 2002, NovaGold Resources Inc. announced the first summary results from the 2002 Preliminary Feasibility Study exploration program from the Donlin Creek gold deposit in Alaska.

Item Five - Full Description of Material Change

On May 22, 2002, NovaGold Resources Inc. announced the first summary results from the 2002 Preliminary Feasibility Study exploration program from the Donlin Creek gold deposit in Alaska.

Highlights


Donlin Creek Pre-Feasibility Drilling In Progress

In March 2002, AMEC E&C Services Limited of Vancouver (AMEC) completed a preliminary independent economic assessment study of the mining, processing, metallurgical, and other economic factors necessary for the development of the Donlin Creek project. This preliminary economic assessment study estimated the capital cost, operating cost parameters, and the optimal scale of operation. The study showed that with further exploration and development work a conventional open-pit mining operation at a 2 g/t gold cut-off level should be economically viable at Donlin Creek.

In April 2002, NovaGold initiated the next phase of development with a US$8 million Pre-Feasibility Study drill program and engaged AMEC, to continue to provide additional engineering and design work for the Donlin Creek gold deposit. The program will include approximately $US6 million in drilling and $US2 million in engineering, environmental and other studies. It is anticipated that the company will expend a project total of $US10 million before the end of the year and thereby earn its 70% interest in the Donlin Creek Project.

New Akivik Gold Zone Discovered in Exploration Drilling

The Company is extremely encouraged with the results to date from the spring phase of the 2002 drill program. The drill program began in early-April with two diamond core drills and one reverse circulation rotary drill (RVC) working on the property. A multi-staged drill program has been designed to raise the level of confidence in the inferred drilled category and to expand the currently defined resource. The focus of the drill program will be on delineating additional near-surface, higher-grade resources. To date a total of 5,800 meters (19,000 feet) of core and RVC drilling has been completed in 65 drill holes (41 RVC and 24 core holes). Assay results are complete for the first 19 RVC holes and 11 of the core holes. Only 6 of these drill holes were infill with the remainder of the spring program focused on step-out exploration drilling to test high-priority targets and define new near surface resource potential around the existing resource areas. Significant mineralized intervals of intrusive porphyry and sedimentary rocks have been intercepted in these holes.

Several drill holes designed to test a major gold-in-soil anomaly more than 500 meters (1650 feet) north of the high-grade Acma zone have discovered a previously unrecognized gold zone of mineralized intrusive porphyry dikes and sills. Initial geologic modeling of this new mineralized area, called the Akivik Zone, indicates many similarities to the multi-million ounce Acma zone.


Initial RVC drill results include DR02-643 which included 6.1 meters grading 3.9 g/t (20 ft at 0.11 oz/t), 6.1 meters grading 2.4 g/t (20 ft at 0.07 oz/t) and an additional 32 meters grading 2.1 g/t (105 ft at 0.06 oz/t). The first follow-up core hole in this new zone includes DC02-688 with 17.9 meters grading 5.6 g/t (59 feet grading 0.16 oz/t) a second similar mineralized zone in the same hole is still pending assays. Further follow-up drilling of these very encouraging results is on-going and this new zone of mineralization remains completely open down dip and along strike to the northwest and southeast.

Other exploration drilling was also completed south of the Lewis Zone and west of Acma in the 400 Target area. Significant mineralized intervals of intrusive porphyry and sedimentary rocks were encountered in each of these areas. Follow-up step-out drilling designed to define new potential resources will be completed on these exploration targets during the summer program.

In-Fill Drilling Confirms Continuity of High-Grade Resource

The second diamond core drill successfully completed a series of in-fill holes perpendicular to the dominant drill direction in Acma to verify grade continuity. The intersections from drill holes DC02-673 and DC02-675 and DC02-677 are representative of this confirmatory drilling. As expected, these holes intercepted thick zones of dense quartz and arsenopyrite veining confirming the continuity of the Acma high-grade mineralization. Highlights include: Hole DC02-673: 17.7 meters grading 8.8 g/t Au (58 ft grading 0.26 oz/t); Hole DC02-675: 44.9 meters grading 3.7 g/t (147 ft at 0.11 oz/t) and 57.9 meters grading 4.9 g/t (190 ft at 0.14 oz/t); and Hole DC02-677: 59.3 meters grading 6.9 g/t (195 ft at 0.20 oz/t) and 45.7 meters grading 6.0 g/t (150 ft at 0.18 oz/t). These results confirm the geologic model for the mineralization and will be incorporated in the next resource estimate update.

Beginning with the summer program additional core drills may be added to the program to complete exploration target testing on a 100 meter by 100 meter drill grid around the perimeter of the modeled $300/oz pit boundary that is adjacent to but outside the existing Acma and Lewis resource areas. Core drilling will also upgrade inferred resources to the higher measured and indicated categories and complete further step-out exploration of high-priority exploration targets such as the new Akivik zone. This work will be completed as a series of drill programs throughout the summer and early-fall. Summary results should be reported by the middle of each month. A table entitled "Donlin Creek New Drill Results Highlights Table" was included. A complete summary table of all results from the program along with a series of drill hole location maps will be available for view and download on the NovaGold website (see link below). NovaGold Projects section of NovaGold’s website:
http://www.novagold.net/s/Projects.asp?PropertyInfoID=880

2002 Donlin Creek Gold Resource Estimates

In late-2001, NovaGold engaged the independent engineering firm MRDI Canada, a division of AMEC E&C Services Limited of Vancouver (AMEC), to complete a new resource estimate and preliminary economic assessment study based on NovaGold’s updated 3D geologic model including all exploration on the project through 2001. AMEC was contracted to complete these


studies based upon its more than 40 years of experience in developing and building mines in Alaska and the Canadian North.

The independent geological analysis completed in January 2002 doubled the previous estimates of the contained gold resource at Donlin Creek. Dr. Stephen Juras, P.Geo., MRDI’s chief geologist in Vancouver, supervised the data verification and resource estimate updates. Dr. Juras is a Qualified Person as defined by National Instrument 43-101. MRDI has completed a technical report detailing the resource estimate parameters which is available for review at www.sedar.com. The 2002 Donlin Creek resource estimates were also included.

Donlin Creek Project Summary

Donlin Creek is one of the largest undeveloped gold deposits in the world. The deposit is located in Southwestern Alaska on 109 square kilometers (42 square miles) of private patented land. The project is 19 km (12 miles) north of a commercial barge site on the Kuskokwim River at the village of Crooked Creek, Alaska. A State of Alaska designated winter road connects the project to the barge site. The project has an all-season exploration camp for up to 75 people with an adjacent 1,500 meter (5,000 ft) runway that is directly serviced by commercial aircraft as large as the C-130 Hercules freighter.

The current scenarios focus on developing Donlin Creek’s shallower and higher-grade ore zones that would be amenable to low-cost open pit mining methods. The gold ores would be crushed, finely ground, and then fed to a flotation circuit to separate the gold bearing sulfide minerals from the rock. The high-grade sulfide concentrate would then be oxidized using pressure oxidation in an autoclave or with bio-oxidation. The gold would then be leached from the oxidized residue and the gold recovered with activated carbon. The current mining scenarios suggest Donlin Creek would have at least 14 years of mine life with an average grade of approximately 5 g/t (0.15 oz/t) for the first five years. It would mine between 8,000 and 20,000 tonnes of ore per day and would produce between 743,000 and 1,100,000 ounces of gold annually. Potential remains to further improve the overall gold recoveries and costs through process optimization, which will be the focus of additional engineering work.

NovaGold will earn a 70% interest in the deposit by spending US$10 million on exploration and development by 2011. NovaGold intends to complete its earn-in expenditures by the end of 2002 as part of the preliminary feasibility and project development work. Upon vesting by NovaGold, a joint venture between NovaGold and Placer Dome would be established, and Placer Dome would have 90 days to decide on one of three options: a) to remain at 30% interest and participate as a minority partner; or b) to convert to a 5% Net Profits Interest (NPI); or c) to exercise a back-in right to re-acquire a majority interest in the project (70% Placer Dome / 30% NovaGold) by expending three times that expended by NovaGold at the time the back-in is exercised, conducting a feasibility study, and making a decision to mine at a production rate of not less than 600,000 ounces of gold per year within a five year period from the exercise of the back-in.


About NovaGold

A diversified natural resource company, NovaGold acquires and develops precious metal deposits in North America. NovaGold has no debt, and has one of the largest gold resource bases of any junior mining company. The company generates revenue for exploration and development from its construction aggregate, gold royalties and land development operations in Nome, Alaska. NovaGold was the top performing stock on the Toronto Stock Exchange (symbol NRI) in 2001. The company also trades on the US OTC (symbol NVGLF). Financial reports 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 28th day of May, 2002 at Halifax, Nova Scotia by Janice A. Stairs, Corporate Secretary.





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

NovaGold Discovers New Gold Zone at Donlin

May 22, 2002, Vancouver – NovaGold Resources Inc. is pleased to report on the first summary results from the 2002 Preliminary Feasibility Study exploration program from the Donlin Creek gold deposit in Alaska.

Highlights

Donlin Creek Pre-Feasibility Drilling In Progress

In March 2002, AMEC E&C Services Limited of Vancouver (AMEC) completed a preliminary independent economic assessment study of the mining, processing, metallurgical, and other economic factors necessary for the development of the Donlin Creek project. This preliminary economic assessment study estimated the capital cost, operating cost parameters, and the optimal scale of operation. The study showed that with further exploration and development work a conventional open-pit mining operation at a 2 g/t gold cut-off level should be economically viable at Donlin Creek.

In April 2002, NovaGold initiated the next phase of development with a US$8 million Pre-Feasibility Study drill program and engaged AMEC, to continue to provide additional engineering and design work for the Donlin Creek gold deposit. The program will include approximately $US6 million in drilling and $US2 million in engineering, environmental and other studies. It is anticipated that the company will expend a project total of $US10 million before the end of the year and thereby earn its 70% interest in the Donlin Creek Project.

New Akivik Gold Zone Discovered in Exploration Drilling

The Company is extremely encouraged with the results to date from the spring phase of the 2002 drill program. The drill program began in early-April with two diamond core drills and one reverse circulation rotary drill (RVC) working on the property. A multi-staged drill program has been designed to raise the level of confidence in the inferred drilled category and to expand the currently defined resource. The focus of the drill program will be on delineating additional near-surface, higher-grade resources. To date a total of 5,800 meters (19,000 feet) of core and RVC drilling has been completed in 65 drill holes (41 RVC and 24 core holes). Assay results are complete for the first 19 RVC holes and 11 of the core holes. Only 6 of these drill holes were in-fill with the remainder of the spring program focused on step-out exploration drilling to test high-priority targets and define new near surface resource potential around the existing resource areas. Significant mineralized intervals of intrusive porphyry and sedimentary rocks have been intercepted in these holes.

Several drill holes designed to test a major gold-in-soil anomaly more than 500 meters (1650 feet) north of the high-grade Acma zone have discovered a previously unrecognized gold zone of mineralized intrusive porphyry dikes and sills. Initial geologic modeling of this new mineralized area, called the Akivik Zone, indicates many


similarities to the multi-million ounce Acma zone. Initial RVC drill results include DR02-643 which included 6.1 meters grading 3.9 g/t (20 ft at 0.11 oz/t), 6.1 meters grading 2.4 g/t (20 ft at 0.07 oz/t) and an additional 32 meters grading 2.1 g/t (105 ft at 0.06 oz/t). The first follow-up core hole in this new zone includes DC02-688 with 17.9 meters grading 5.6 g/t (59 feet grading 0.16 oz/t) a second similar mineralized zone in the same hole is still pending assays. Further follow-up drilling of these very encouraging results is on-going and this new zone of mineralization remains completely open down dip and along strike to the northwest and southeast.

Other exploration drilling was also completed south of the Lewis Zone and west of Acma in the 400 Target area. Significant mineralized intervals of intrusive porphyry and sedimentary rocks were encountered in each of these areas. Follow-up step-out drilling designed to define new potential resources will be completed on these exploration targets during the summer program.

In-Fill Drilling Confirms Continuity of High-Grade Resource

The second diamond core drill successfully completed a series of in-fill holes perpendicular to the dominant drill direction in Acma to verify grade continuity. The intersections from drill holes DC02-673 and DC02-675 and DC02-677 are representative of this confirmatory drilling. As expected, these holes intercepted thick zones of dense quartz and arsenopyrite veining confirming the continuity of the Acma high-grade mineralization. Highlights include: Hole DC02-673: 17.7 meters grading 8.8 g/t Au (58 ft grading 0.26 oz/t); Hole DC02-675: 44.9 meters grading 3.7 g/t (147 ft at 0.11 oz/t) and 57.9 meters grading 4.9 g/t (190 ft at 0.14 oz/t); and Hole DC02-677: 59.3 meters grading 6.9 g/t (195 ft at 0.20 oz/t) and 45.7 meters grading 6.0 g/t (150 ft at 0.18 oz/t). These results confirm the geologic model for the mineralization and will be incorporated in the next resource estimate update.

Beginning with the summer program additional core drills may be added to the program to complete exploration target testing on a 100 meter by 100 meter drill grid around the perimeter of the modeled $300/oz pit boundary that is adjacent to but outside the existing Acma and Lewis resource areas. Core drilling will also upgrade inferred resources to the higher measured and indicated categories and complete further step-out exploration of high-priority exploration targets such as the new Akivik zone. This work will be completed as a series of drill programs throughout the summer and early-fall. Summary results should be reported by the middle of each month.

Donlin Creek New Drill Results Highlights Table

                             
                             
DHID   Interval(m)   Length(m)   Gold g/t   Length(ft)   Gold oz/t   Type   Objective
DR02-628   36.6 to 42.7   6.1   3.2   20.0   0.09   RVC   Exploration
DR02-629   25.9 to 29.0   3.1   11.1   10.0   0.32   RVC   Exploration
DR02-630   18.3 to 22.9   4.6   9.4   15.0   0.27   RVC   Exploration
DR02-639   39.6 to 44.2   4.6   3.2   15.0   0.09   RVC   Exploration
DR02-643   19.8 to 25.9   6.1   3.9   20.0   0.11   RVC   Exploration
    19.8 to 51.8   32.0   2.1   105.0   0.06   RVC   Exploration
DR02-645   15.2 to 27.4   12.2   2.9   40.0   0.09   RVC   Exploration
DC02-672   135.7 to 140.0   4.3   3.7   14.2   0.11   Core   Exploration
DC02-673   99.5 to 117.2   17.7   8.8   58.0   0.26   Core   In-Fill
DC02-674   43.0 to 47.0   4.0   6.7   13.1   0.19   Core   Exploration
    211.7 to 217.0   5.3   3.5   17.4   0.10   Core   Exploration
DC02-675   25.0 to 29.0   4.0   3.1   13.1   0.09   Core   In-Fill
    47.0 to 91.9   44.9   3.7   147.3   0.11   Core   In-Fill
    101.0 to 158.9   57.9   4.9   190.0   0.14   Core   In-Fill
    167.5 to 207.5   40   4.1   131.2   0.12   Core   In-Fill
DC02-677   4.0 to 16.5   12.5   4.2   41.0   0.12   Core   In-Fill
    57.0 to 63.0   6.0   7.5   19.7   0.22   Core   In-Fill
    83.5 to 142.8   59.3   6.9   194.6   0.20   Core   In-Fill
    150.1 to 195.8   45.7   6.0   149.8   0.18   Core   In-Fill
DC02-681   9.1 to 11.4   2.3   7.4   7.4   0.21   Core   Exploration
    35.5 to 62.8   27.3   3.6   89.4   0.10   Core   Exploration
    88.5 to 107.5   19.0   3.3   62.4   0.10   Core   Exploration
DC02-688   66.0 to 83.9   17.9   5.6   59.0   0.16   Core   Exploration


A complete summary table of all results from the program along with a series of drill hole location maps will be available for view and download on the NovaGold website (see link below).

NovaGold Projects section of NovaGold’s website: http://www.novagold.net/s/Projects.asp?PropertyInfoID=880

2002 Donlin Creek Gold Resource Estimates

In late-2001, NovaGold engaged the independent engineering firm MRDI Canada, a division of AMEC E&C Services Limited of Vancouver (AMEC), to complete a new resource estimate and preliminary economic assessment study based on NovaGold’s updated 3D geologic model including all exploration on the project through 2001. AMEC was contracted to complete these studies based upon its more than 40 years of experience in developing and building mines in Alaska and the Canadian North.

The independent geological analysis completed in January 2002 doubled the previous estimates of the contained gold resource at Donlin Creek. Dr. Stephen Juras, P.Geo., MRDI’s chief geologist in Vancouver, supervised the data verification and resource estimate updates. Dr. Juras is a Qualified Person as defined by National Instrument 43-101. MRDI has completed a technical report detailing the resource estimate parameters which is available for review at www.sedar.com.

The 2002 Donlin Creek resource estimates are as follows:

2.0 g/t cut off grade used in 2002 AMEC Economic Assessment Study  
Resource   Tonnes   Grade   Contained  
Category   (Millions)   Gold g/t   Ounces  
Measured   5.054   3.84   623,000  
Indicated   68.917   3.49   7,732,000  
Total M&I:   73.971   3.51   8,347,000  
Inferred   92.433   3.66   10,877,000  
               
3.5 g/t elevated cut off grade for first 5 years production schedule  
Resource   Tonnes   Grade   Contained  
Category   (Millions)   Gold g/t   Ounces  
Measured   2.225   5.36   383,000  
Indicated   24.705   5.04   4,002,000  
Total M&I:   26.930   5.06   4,385,000  
Inferred   36.806   5.22   6,183,000  

Notes: (1) Tonnes and Contained Ounces are rounded to the nearest 1,000.

Donlin Creek Project Summary

Donlin Creek is one of the largest undeveloped gold deposits in the world. The deposit is located in Southwestern Alaska on 109 square kilometers (42 square miles) of private patented land. The project is 19 km (12 miles) north of a commercial barge site on the Kuskokwim River at the village of Crooked Creek, Alaska. A State of Alaska designated winter road connects the project to the barge site. The project has an all-season exploration camp for up to 75 people with an adjacent 1,500 meter (5,000 ft) runway that is directly serviced by commercial aircraft as large as the C-130 Hercules freighter.

The current scenarios focus on developing Donlin Creek’s shallower and higher-grade ore zones that would be amenable to low-cost open pit mining methods. The gold ores would be crushed, finely ground, and then fed to a flotation circuit to separate the gold bearing sulfide minerals from the rock. The high-grade sulfide concentrate would then be oxidized using pressure oxidation in an autoclave or with bio-oxidation. The gold would then be leached from the oxidized residue and the gold recovered with activated carbon. The current mining scenarios suggest Donlin Creek would have at least 14 years of mine life with an average grade of approximately 5 g/t (0.15 oz/t) for the first five years. It would mine between 8,000 and 20,000 tonnes of ore per day and would produce between 743,000 and 1,100,000 ounces of gold annually. Potential remains to further improve the overall gold recoveries and costs through process optimization, which will be the focus of additional engineering work.


NovaGold will earn a 70% interest in the deposit by spending US$10 million on exploration and development by 2011. NovaGold intends to complete its earn-in expenditures by the end of 2002 as part of the preliminary feasibility and project development work. Upon vesting by NovaGold, a joint venture between NovaGold and Placer Dome would be established, and Placer Dome would have 90 days to decide on one of three options: a) to remain at 30% interest and participate as a minority partner; or b) to convert to a 5% Net Profits Interest (NPI); or c) to exercise a back-in right to re-acquire a majority interest in the project (70% Placer Dome / 30% NovaGold) by expending three times that expended by NovaGold at the time the back-in is exercised, conducting a feasibility study, and making a decision to mine at a production rate of not less than 600,000 ounces of gold per year within a five year period from the exercise of the back-in.

About NovaGold

A diversified natural resource company, NovaGold acquires and develops precious metal deposits in North America. NovaGold has no debt, and has one of the largest gold resource bases of any junior mining company. The company generates revenue for exploration and development from its construction aggregate, gold royalties and land development operations in Nome, Alaska. NovaGold was the top performing stock on the Toronto Stock Exchange (symbol NRI) in 2001. The company also trades on the US OTC (symbol NVGLF). Financial reports and other information are available at www.novagold.net.

For more information on NovaGold contact:

Rick Van Nieuwenhuyse, President & CEO
Los Gatos, California, USA
(408) 655-6766
E-mail: RickVann@NovaGold.net

Greg Johnson, Vice President, Corporate Development
Newcastle, 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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