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NovaGold Third Quarter Financial Results

2009-10-13 15:12 ET - News Release

Also News Release (U-NG) NOVAGOLD RESOURCES INC

VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 10/13/09

NovaGold Resources Inc. (TSX: NG)(NYSE Amex: NG) today announced the results of its third quarter ended August 31, 2009. Details of the Company's financial results are described in the unaudited consolidated financial statements and Management's Discussion and Analysis which, together with further details on each of the Company's projects, including resource estimates, will be available on the Company's website at www.novagold.net and on SEDAR at www.sedar.com. All amounts are in Canadian dollars unless otherwise stated.

Description of business

NovaGold is a growth-focused precious metals company engaged in the exploration and development of mineral properties in Alaska, U.S.A. and British Columbia, Canada. The Company conducts its operations through wholly-owned subsidiaries, partnerships, limited liability companies and joint ventures. Since 1998, the Company has assembled a world-class portfolio of projects, with 50% interests in two of the world's largest gold and copper-gold projects, 100% of the Rock Creek gold mine and other exploration-stage properties. The Company is primarily focused on gold properties, some of which also have significant copper and silver resources. With senior operating partners contributing their construction and operating expertise, NovaGold's projects offer lower risk and higher potential value than many other small mining companies can provide. In addition, all of NovaGold's current properties are located in Alaska and British Columbia, regions with a long history of mining, established permitting standards and governments supportive of resource development, offering investors leverage to gold with low geopolitical risk.

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