The Gold Report

NovaGold Resources Inc. TICKER: NG:TSX; NG:NYSE.A Visit Company Website NovaGold engages in the exploration and development of mineral properties in North America. The company is advancing its two core properties, Donlin Creek and Galore Creek, with the objective to become a low-cost, million-ounce-a-year gold producer. NovaGold's business model is to identify high-quality assets and make strategic, timely acquisitions; expand existing deposits; advance projects to feasibility level to increase reserves and value for shareholders; and create strong partnerships with well-respected senior producers to advance projects to production.

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Analysis

Paolo Lostritto, National Bank Financial (2/10/12) "We now incorporate NovaGold Resources Inc.'s leasing agreements for: 1) the gas pipeline, 2) the port facility, 3) the oxygen plant and 4) mining equipment, which has reduced the capital requirement by 22%. After adjusting our model for the recent equity issue (US$367M) and several unaccounted leasing agreements, we believe NovaGold should have sufficient cash to reach H218, the last year of construction before commissioning in 2019. . .our valuation methodology does not capture the strategic value inherently offered by this politically safe mega-project with excellent exploration potential."

The Gold Report Interview with Byron King (2/6/12) "I'm waiting for the development at Donlin Creek, Alaska, to come through for NovaGold Resources Inc. Investors are going to have to be patient with this one. It's over 30 Moz of gold. It's partnered up with Barrick. . .over enough time, NovaGold could be quite rewarding to a patient resource investor." More >

Lawrence Roulston, Resource Opportunities (12/21/11) "The second update to NovaGold Resources Inc.'s Donlin Gold feasibility study was recently completed, incorporating enhancements that improve the project economics. The partners now intend to generate power onsite with natural gas, which would be brought to site through a pipeline. The study anticipates that the gas would be imported as liquefied natural gas. There is potential to produce gas from within Alaska, including sources near the proposed pipeline. The study incorporates 2P resources of 33.8 Moz and would produce 1.46 Moz annually for the first five years at a cash cost of $409/oz. . .beyond the 2P reserves, the project has a further 11 Moz of resources and tremendous exploration potential along a trend with demonstrated potential."

Brien Lundin, Gold Newsletter (Jefferson Financial) (12/15/11) "NovaGold Resources Inc.'s new feasibility study projects that its Donlin gold project could produce 1.5 Moz/year gold in its first five years and do so at a cash cost of just $409/oz; over the mine's projected 27-year mine life, annual gold production would average 1.1 Moz and cash costs would average $585/oz. Plus consider this staggering fact: The 2P mineral reserves at Donlin stand at 33.8 Moz and yet, those reserves cover only 3 km of a mineralized corridor that spans fully 8 km. . . based on the positive nature of this study, the company predicts that permitting will begin in early 2012."

Paolo Lostritto, National Bank Financial (12/14/11) "NovaGold Resources Inc.'s additional positive drill results from the Bornite deposit along with the discovery of a new area of mineralization, South Reef, continue to point towards the district scale potential of the Ambler project; the aim of the drill program was to confirm historic drill results and conduct step-out drilling on other targets. Grade and intervals continue to be positive. . .a resource estimate from the Bornite Deposit is expected in H112. This should have a positive impact on the potential valuation of the spin-out NovaCopper, which is expected to contain the Ambler Assets."

• Corporate Profile (8/4/11)
• Corporate Presentation (7/19/11)

(3/29/11) CEO Rick Van Nieuwenhuyse on Mad Money

(3/24/11) NG: Advancing Big Projects

(2/1/11) NovaGold President Talks About Donlin and Galore Creek Gold Deposits

(2/12/11) Weekend Show

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