March 3,
2009 - Vancouver, British Columbia - NovaGold Resources Inc. (the “Company” or
"NovaGold") (TSX: NG, NYSE Alternext: NG) is honoured to be the
co-winner of the Thayer Lindsley Award at this year’s PDAC mining conference
in Toronto. This award recognizes an individual or a team of explorationists
credited with a recent significant mineral discovery anywhere in the world.
This
year’s award is for the Donlin Creek gold deposit in Alaska. NovaGold
Resources Inc., which is on the verge of completing a feasibility study and in
preparation for beginning construction at the site, will share the Thayer
Lindsley Award with Richard Garnett, who was technical director of the Anglo
American subsidiary that began initial exploration at the site in the 1980s.
The award recognizes the initial discovery and contributions for the
understanding of the geologic controls for mineralization of the Donlin Creek
deposit. The property is currently a 50-50 joint venture with NovaGold
Resources Inc. and Barrick Gold Corporation.
“It is an
honor to receive this award recognizing the significance of NovaGold’s Donlin
Creek deposit as a world class gold deposit and for recognizing the contributions
made by all of the geologists who were a key part of its development.” said
Rick Van Nieuwenhuyse President & CEO, NovaGold Resources Inc.
NovaGold was
honored at the PDAC Awards Dinner on March 2, 2009 at the Royal York Hotel. The
Company is exhibiting at PDAC at booth #2243 at the Metro Toronto Convention
Center – South Building.
About
NovaGold
NovaGold is
a growth-focused precious metals company with exploration, development and
mining properties in Alaska and Western Canada. NovaGold has a 50/50
partnership on the Donlin Creek gold project in Alaska, one of the world’s
largest gold deposits, with Barrick Gold. The Company also has a 50/50
partnership on the Galore Creek copper-gold-silver project in British Columbia
with Teck Cominco. NovaGold owns 100% interest in the Rock Creek, Big Hurrah
and Nome Gold deposits in Nome, Alaska. NovaGold has one of the largest
resource bases of any junior or mid-tier level producing gold company. NovaGold
trades on the TSX and NYSE Alternext under the symbol NG. More information is
available online at www.novagold.net or by e-mail at info@novagold.net.
# # #
NovaGold
Contacts
Greg Johnson
|
Don MacDonald
|
Vice President, Strategic Development
|
Senior Vice President and CFO
|
604-669-6227
or 1-866-669-6227
Cautionary
Note Regarding Forward-Looking Statements
This
press release includes certain “forward-looking statements” within
the meaning of the United States Private Securities Litigation Reform Act of
1995. All statements, other than statements of historical fact, included herein
including, without limitation, statements regarding intentions with respect to
obligations due for various projects, strategic alternatives, timing of
permitting, construction and production and other milestones, and NovaGold’s
future operating or financial performance are forward-looking statements.
Forward-looking statements involve various risks and uncertainties. There can
be no assurance that such statements will prove to be accurate, and actual
results and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results to differ
materially from NovaGold’s expectations include the uncertainties involving
the need for additional financing to explore and develop properties and
availability of financing in the debt and capital markets; uncertainties
involved in the interpretation of drilling results and geological tests and the
estimation of reserves and resources; the need for continued cooperation with
Barrick Gold and Teck Cominco in the exploration and development of the Donlin
Creek and Galore Creek properties; the need for cooperation of government
agencies and native groups in the development and operation of properties; the
need to obtain permits and governmental approvals; risks of construction and
mining projects such as accidents, equipment breakdowns, bad weather,
non-compliance with environmental and permit requirements, unanticipated
variation in geological structures, ore grades or recovery rates; unexpected
cost increases; fluctuations in metal prices and currency exchange rates, and
other risks and uncertainties disclosed in NovaGold’s Annual Information Form
for the year ended November 30, 2007, filed with the Canadian securities
regulatory authorities, and NovaGold’s annual report on Form 40-F filed with
the United States Securities and Exchange Commission and in other NovaGold
reports and documents filed with applicable securities regulatory authorities
from time to time. NovaGold’s forward looking statements reflect the beliefs,
opinions and projections on the date the statements are made. NovaGold assumes
no obligation to update the forward looking statements of management beliefs,
opinions, projections, or other factors should they change.