Mr. Rob Krcmarov of Barrick Gold reports

DONLIN GOLD PROJECT RECEIVES RECORD OF DECISION AND MAJOR FEDERAL PERMITS

The U.S. Army Corps of Engineers and the U.S. Bureau of Land Management (BLM) have issued a single federal record of decision (ROD) for Barrick Gold Corp.'s and Novagold Resources Inc.'s Donlin Gold project following completion of the federal National Environmental Policy Act process. Along with the ROD, the Corps issued a combined permit under Section 404 of the Clean Water Act, and Section 10 of the Rivers and Harbors Act. Additionally, the BLM issued the offer to lease for the right of way for those portions of the natural gas pipeline that would cross federal lands.

"The issuance of the Donlin Gold ROD and key project permits is a significant milestone for both partners," said Rob Krcmarov, Executive Vice President, Exploration and Growth for Barrick. "It would not have been possible without exceptional professionalism of the Donlin Gold team as well as members of the Corps, BLM, and other federal and state agencies. As one of the largest undeveloped gold deposits in the world, Donlin Gold represents exceptional optionality within our portfolio. Now, with key permits in hand, we can concentrate on further exploring ways of reducing initial capital and unlocking the value of this asset for all of our partners, in keeping with our deep commitment to community engagement and environmental stewardship."

"The permitting process for the Donlin Gold project was very comprehensive and thorough," said Greg Lang, NOVAGOLD's President and Chief Executive Officer. "At various stages of this multi-year undertaking, all stakeholders had multiple opportunities to engage and make meaningful contributions to the final outcome. We would like to extend special gratitude to the Corps, BLM and other cooperating agencies for their successful navigation of this complex process. We would also like to thank Calista Corporation and The Kuskokwim Corporation, our Native Corporation partners, for their unwavering support and commitment to the project. Congratulations to the Donlin Gold team on achieving these important milestones. The ROD is a very detailed document, which serves as the foundation for issuance of the federal permits required for us to build a technically, environmentally, and financially responsible, as well as a socially sustainable, operation."

The Path Forward

As one of the world's largest and highest grade undeveloped open pit gold resources, Donlin Gold is well positioned to benefit from rising gold prices. Receipt of the ROD and federal permits represents a very important milestone in its development. Now, Barrick and NOVAGOLD can concentrate on wrapping up the optimization studies and value enhancing options designed to reduce initial capital outlays and improve project economics. Donlin Gold anticipates providing further details in the fourth quarter on the path forward to update the 2011 feasibility study.

About the Donlin Gold Project

Donlin Gold is located in Alaska, the second largest gold-producing state in the U.S. With approximately 39 million ounces of gold grading 2.24 grams per tonne in the measured and indicated resource categories (100 percent basis), 1 it hosts one of the largest and highest-grade undeveloped open pit gold endowments in the world. According to the Second Updated Feasibility Study (as defined above), once in production, Donlin Gold has the potential to produce, on average, 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 mine footprint which currently covers only three kilometers of an approximately eight-kilometer long gold-bearing trend. Current activities at Donlin Gold are focused on optimization work, and community outreach.

Donlin Gold LLC is an Alaska-based company owned equally by NovaGold Resources Alaska, Inc. (NOVAGOLD) and Barrick Gold U.S. Inc. (Barrick), which are wholly owned subsidiaries of NOVAGOLD RESOURCES INC., and Barrick Gold Corporation, respectively.

1 Donlin Gold data as per the second updated feasibility study effective November 18, 2011, as amended January 20, 2012 ("Second Updated Feasibility Study"). Donlin Gold measured resources of approximately 8 Mt grading 2.52 g/t and indicated resources of approximately 534 Mt grading 2.24 g/t, each on a 100% basis. Mineral resources have been estimated in accordance with National Instrument 43-101 {A –} Standards of Disclosure for Mineral Projects ("NI 43-101").

Scientific and Technical Information

Some scientific and technical information contained herein with respect to the Donlin Gold project is derived from the "Donlin Creek Gold Project Alaska, USA NI 43-101 Technical Report on Second Updated Feasibility Study" prepared by AMEC for NOVAGOLD with an effective date of November 18, 2011, as amended January 20, 2012 (the "Second Updated Feasibility Study"). Kirk Hanson, P.E., Technical Director, Open Pit Mining, North America, (AMEC, Reno), and Gordon Seibel, R.M. SME, Principal Geologist, (AMEC, Reno) are the Qualified Persons responsible for the preparation of the independent technical report, each of whom are independent "qualified persons" as defined in NI 43-101.

Clifford Krall, P.E., who is the Mine Engineering Manager for NOVAGOLD and a "qualified person" under NI 43-101, has approved and verified the scientific and technical information related to the Donlin Gold project contained in this press release.

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