NOVAGOLD Announces Departure of Director
NYSE AMERICAN, TSX: NG
NEWS RELEASE
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NOVAGOLD Announces Departure of Director
October 17, 2017 - Vancouver, British Columbia – NOVAGOLD RESOURCES INC. (TSX, NYSE
American: NG) today announced the resignation of Marc Faber from NOVAGOLD’s Board of Directors
effective immediately.
About NOVAGOLD
NOVAGOLD is a well-financed precious metals company focused on the permitting and development of its
50%-owned Donlin Gold project in Alaska, one of the safest mining jurisdictions in the world. With
approximately 39 million ounces of gold in the measured and indicated resource categories, inclusive of
proven and probable reserves (541 million tonnes at an average grade of approximately 2.2 grams per tonne),
Donlin Gold is regarded to be one of the largest, highest grade, and most prospective known gold deposits in
the world. According to the Second Updated Feasibility Study (as defined below), once in production, Donlin
Gold is expected to produce an average of more than one million ounces per year over a 27 -year mine life on
a 100% basis. The Donlin Gold project has substantial exploration potential beyond the designed footprint
which currently covers only three kilometers of an approximately eight-kilometer long gold-bearing trend.
Current activities at Donlin Gold are focused on permitting, optimization work, community outreach and
workforce development in preparation for the construction and operation of this top tier asset. NOVAGOLD
also owns 50% of the Galore Creek copper-gold-silver project located in northern British Columbia. According
to the 2011 Pre-Feasibility Study (as defined below), once in production, Galore Creek is expected to be the
largest copper mine in Canada, a tier-one mining jurisdiction. NOVAGOLD anticipates selling all or a portion
of its interest in Galore Creek and would apply the proceeds toward the development of Donlin Gold. With a
strong balance sheet, NOVAGOLD is well positioned to stay the course and take Donlin Gold through
permitting.
NOVAGOLD Contacts:
Mélanie Hennessey
Vice President, Corporate Communications
Erin O’Toole
Senior Stakeholder Relations Specialist
604-669-6227 or 1-866-669-6227
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain “forward -looking information” and “forward -looking statements” (collectively “forward -looking
statements”) within the meaning of applicable securities legislation, including the United States Private Securities Litigati on Reform Act of
1995. All statements, other than statements of historical fact, included herein including, without limitation, the timing of permitting and
potential development of Donlin Gold, statements relating to NOVAGOLD’s future operating and financ ial performance and the potential
sale of all or part of NOVAGOLD’s interest in Galore Creek are forward -looking statements. Forward-looking statements are frequently, but
not always, identified by words such as “expects”, “anticipates”, “believes”, “inten ds”, “estimates”, “potential”, “possible”, and similar
expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Thes e forward-looking
statements may include statements regarding the exploration potential of Donlin Gold; perceived merit of properties; anticipated permitting
timeframes; exploration potential; mineral reserve and resource estimates; work programs; timelines; strategic plans or other statements
that are not statements of fact. 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 inv olving the
need to obtain permits and governmental approvals; the need for additional financing to explore and develop properties a nd 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 Corporation and Teck Resources Limited for the continued
exploration and development of the Donlin Gold and Galore Creek properties , respectively ; the need for cooperation of government
agencies and native groups in the development and operation of properties; risk s 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 , which could include significant increases in estimated capital and
operating costs; fluctuations in metal prices and currency exchange rates; and other risk and uncertainties disclosed in NOVA GOLD’s
Annual Report filed on Form 10 -K for the year -ended November 30, 201 6 with the United States Securities and Exchange Commission ,
Canadian securities regulators, 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.
NYSE AMERICAN, TSX: NG
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NOVAGOLD assumes no obligation to update the forward -looking statements of beliefs, opinions, projections, or other factors, should they
change, except as required by law.
Cautionary Note to United States Investors
This press release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the
requirements of U.S. securities laws. Unless otherwise indicated, al l resource and reserve estimates included in this press release have
been prepared in accordance with Canadian National Instrument 43 -101 Standards of Disclosure for Mineral Projects (“NI 43 -101”) and
the Canadian Institute of Mining, Metallurgy and Petroleum (CIM)—CIM Definition Standards on Mineral Resources and Mineral Reserves,
adopted by the CIM Council, as amended (“CIM Definition Standards”) . NI 43 -101 is a rule developed by the Canadian Securities
Administrators which establishes standards for all p ublic disclosure an issuer makes of scientific and technical information concerning
mineral projects. Canadian standards, including NI 43 -101, differ significantly from the requirements of the United States Securities and
Exchange Commission (SEC), and res ource and reserve information contained herein may not be comparable to similar information
disclosed by U.S. companies. In particular, and without limiting the generality of the foregoing, the term "resource” does not equate to the
term "reserves”. Under U.S. standards, mineralization may not be classified as a "reserve” unless the determination has been made that
the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. The SEC's
disclosure standards normally do not permit the inclusion of information concerning "measured mineral resources”, "indicated mineral
resources” or "inferred mineral resources” or other descriptions of the amount of mineralization in mineral deposits that do not constitute
"reserves” by U.S. standards in documents filed with the SEC. Investors are cautioned not to assume that all or any part of “measured” or
“indicated resources” will ever be converted into “reserves”. Investors should also understand that "inferred min eral resources” have a
great amount of uncertainty as to their economic and legal feasibility. Under Canadian rules, estimated "inferred mineral res ources” may
not form the basis of feasibility or pre-feasibility studies except in rare cases. Investors are cautioned not to assume that all or any part of
an "inferred mineral resource” is economically or legally mineable. Disclosure of "contained ounces” in a resource is permitt ed disclosure
under Canadian regulations; however, the SEC normally only permits i ssuers to report mineralization that does not constitute "reserves”
by SEC standards as in -place tonnage and grade without reference to unit measures. The requirements of NI 43 -101 for identification of
"reserves” are also not the same as those of the SEC, and reserves reported by NOVAGOLD in compliance with NI 43 -101 may not
qualify as "reserves” under SEC standards. Neither Donlin Gold nor Galore Creek have known reserves, as defined under SEC Industry
Guide 7. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by
companies that report in accordance with U.S. standards.