NovaGold Announces Fourth Quarter and Year End Results Conference Call
NovaGold Resources Inc. (NYSE-AMEX, TSX: NG) today announced it will report the
results of its fourth quarter and year ended November 30, 2011 before the
market opens on February 22, 2012. A conference call will be held the next day
on Thursday February 23, 2012 at 11:00 am PST (2:00 pm EST); it will also be
carried on the Company's website.
NovaGold will
host a conference call and webcast
Thursday, February 23 at 11:00 am PST (2:00 pm EST)
Webcast: http://www.meetview.com/novagold/
North American callers: 1-866-212-4491
International callers: 1-416-800-1066
The following financial results for the fourth quarter
and year ended November 30, 2011 are preliminary and unaudited. All amounts are
in Canadian dollars unless otherwise stated.
As at November 30, 2011, the Company had a cash and
cash equivalent balance of approximately $67 million.
For the year ended November 30, 2011, the Company
recorded mineral property expenditures of approximately $23 million for the
Galore Creek project and approximately $10 million for the Ambler project. The
Company also funded approximately $22 million for its 50% share of the Donlin Gold project.
For the fourth quarter ended November 30, 2011, the
Company recorded mineral property expenditures of approximately $12 million for
the Galore Creek project and approximately $2 million for the Ambler project.
The Company funded approximately $4 million for its 50% share of the Donlin Gold
project in the fourth quarter.
About NovaGold
NovaGold is a precious metals company engaged in the exploration and development
of mineral properties primarily in Alaska, U.S.A. and British Columbia, Canada.
The Company is focused on advancing its flagship property, Donlin
Gold and offers superior leverage to gold with one of the largest
reserve/resource bases of any junior or mid-tier gold exploration company. The
Company is also committed to maximizing the value of its non-core assets,
including its interest in the Galore Creek copper-gold-silver project. NovaGold has a strong track record of expanding deposits
through exploration success and forging collaborative partnerships, both with
local communities and with major mining companies. The Donlin
Gold Project in Alaska, one of the world's largest known undeveloped gold
deposits, is held by a limited liability company owned equally by wholly-owned
subsidiaries of NovaGold and Barrick
Gold Corporation. The Galore Creek Project in British Columbia, a large
copper-gold-silver deposit, is held by a partnership owned equally by
wholly-owned subsidiaries of NovaGold and Teck Resources Limited. NovaGold,
through its wholly-owned subsidiary, NovaCopper Inc.,
also owns a 100% interest in the high-grade Ambler copper-zinc-gold-silver
deposit in northern Alaska and has other earlier-stage exploration properties. NovaGold trades on the TSX and NYSE-AMEX under the symbol
NG.