Developing through partnerships

NovaGold Resources Inc, one of the fastest growing gold and copper companies in the mining industry, has one of the strongest production growth profiles in the sector.

Advancing three of the world's largest undeveloped gold and copper-gold deposits located in Alaska and Western Canada, NovaGold is set to become a low-cost mid-tier gold and copper producer through strategic partnerships and a clear strategy for the future.

NovaGold's Galore Creek copper-gold deposit in northwestern British Columbia, its Nome Operations and Donlin Creek gold deposits in Alaska, and its Ambler copper-zinc-gold-silver deposit in Alaska, all contribute to the company's strong portfolio. With one of the largest reserve bases of any of the junior and mid-tier precious metals production companies and a track record of exceptional shareholder returns, NovaGold has built a strong reputation in international mining and investor communities.

The Canadian company has targeted its first gold production for 2007 at its Nome Operations in Alaska and is jointly developing three other major projects with some of the leading companies in the industry, including Teck Cominco, Rio Tinto and Barrick Gold.

NovaGold's partnership with Teck Cominco is aimed at building the world-class Galore Creek copper-gold mine, which is one of the largest single mining investments ($2 billion) in Canada. Estimated proven and probable reserves of the project are 6.6 billion pounds of copper, 5.3 million ounces of gold and 92.6 million ounces of silver. Once in production, Galore Creek will be Canada's largest copper-producing mine.

NovaGold President and CEO, Rick Van Nieuwenhuyse, is excited about the partnership: "Reaction to the partnership has been very positive. We were looking for a strong financial partner and felt Teck Cominco was the best choice, because they have a complementary business philosophy to NovaGold. Together NovaGold and Teck Cominco have established a very strong partnership that will ensure the successful development of a world-class mine."

As NovaGold transforms from a highly successful exploration and development company to an exploration-focused, low-cost gold and copper producer, Van Nieuwenhuyse is ready to manage the various challenges the company will face as it grows.

"We have a rapid growth period ahead for the company as NovaGold becomes one of the world's premier precious metals companies,' said Van Nieuwenhuyse.

"Starting with our first mine in Nome, Alaska in the third quarter of 2007, production is estimated to grow from 100,000 ounces of gold per year to over 1 million ounces of gold per year with our Galore Creek copper-gold mine in Canada and the giant Donlin Creek gold deposit in Alaska. With such rapid growth in low-cost production and with the additional significant potential from the company's other earlier stage projects, we believe NovaGold presents one of the most compelling growth opportunities in gold, silver and copper on the market today."

www.novagold.com

(China Daily 11/13/2007 page25)