NOVAGOLD Announces Changes to the Composition of Its Board of Directors and Committees

NOVAGOLD Announces Changes to the Composition of Its Board of Directors and 
Committees 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/28/13 -- NOVAGOLD
RESOURCES INC. (TSX:NG)(NYSE MKT:NG) announced today that Tony S.
Giardini would step down from its Board of Directors effective March
1, 2013. Mr. Giardini's departure takes place in conjunction with his
recent appointment as Executive Vice-President & Chief Financial
Officer of Kinross Gold Corporation, one of the largest gold mining
companies in the world. 
"On behalf of the Board of Directors of NOVAGOLD, I would like to
thank Tony for his outstanding five years of service to NOVAGOLD and
its shareholders," said Thomas S. Kaplan, the Company's Chairman.
"Tony was a highly valued member of the Board and played a
significant role as NOVAGOLD completed its reorganization and
transitioned into a development company focused on Donlin Gold, its
flagship asset. We will all miss Tony's diligence and counsel on many
levels and wish him all the best in his new endeavors in the gold
industry." 
Concurrent with Mr. Giardini's departure, NOVAGOLD instituted a
number of changes to the chairmanship and membership of its
Committees. Kalidas V. Madhavpeddi will replace Tony S. Giardini as
the Chair of the Compensation Committee and Sharon E. Dowdall will
replace Tony S. Giardini as a member of the Audit Committee. Gil
Leathley will replace Kalidas V. Madhavpeddi as the Chair of the
Environmental, Health, Safety and Sustainability and Technical
Committee. 
About NOVAGOLD 
NOVAGOLD is a well-financed precious metals company engaged in the
exploration and development of mineral properties in North America.
Its flagship asset is the 50%-owned Donlin Gold project in Alaska,
one of the safest jurisdictions in the world. With approximately 39
million ounces(1) of gold in the Measured and Indicated resource
categories (541 million tonnes at an average grade of approximately
2.2 grams per tonne), Donlin Gold is regarded to be one of the
largest, and most prospective known gold deposits in the world.
According to the updated Feasibility Study, once in production,
Donlin Gold should average approximately 1.5 million ounces of gold
per year for the first five years, followed by decades of more than
one million ounces per
 year. The Donlin Gold project has substantial
exploration potential beyond the designed footprint which currently
covers only three kilometers of an approximately eight-kilometer
strike length of the property. Permitting is underway for the Donlin
Gold project, a clearly defined process expected to take 3-4 years.
NOVAGOLD also owns 50% of the Galore Creek copper-gold-silver project
located in northern British Columbia. According to the 2011
Pre-Feasibility Study, Galore Creek is expected to be the largest
copper mine in Canada, a tier-one jurisdiction, when it is put into
production. NOVAGOLD is currently evaluating opportunities to sell
all or a portion of its interest in Galore Creek and would apply the
proceeds toward the development of Donlin Gold. NOVAGOLD has a strong
track record of forging collaborative partnerships, both with local
communities and with major mining companies. 
Scientific and Technical Information 
Scientific and technical information contained herein with respect to
Donlin Gold is derived from the "Donlin Creek Gold Project Alaska,
USA NI 43-101 Technical Report on Second Updated Feasibility Study"
compiled by AMEC. Kirk Hanson, P.E., Technical Director, Open Pit
Mining, North America, (AMEC, Reno), Gordon Seibel, R.M. SME,
Principal Geologist, (AMEC, Reno), Tony Lipiec, P.Eng. Manager
Process Engineering (AMEC, Vancouver) are the Qualified Persons
responsible for the prepa
ration of the independent technical report,
each of whom are independent "qualified persons" as defined by NI
43-101. 
(1) Measured and indicated resources of 0.63 million ounces and 38.38
million ounces respectively (541 million tonnes at an average grade
of approximately 2.2 grams per tonne) are inclusive of 0.57 million
ounces proven and 33.28 million ounces probable reserves (504.8
million tonnes at an average grade of approximately2.09 grams per
tonne). 
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 Litigation 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 financial performance,
outlook, 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", "intends", "estimates",
"potential", "possible", and similar expressions, or statements that
events, conditions, or results "will", "may", "could", or "should"
occur or be achieved. These forward-looking statements may include
statements regarding perceived merit of properties; exploration
results and budgets; mineral reserves and resource estimates; work
programs; capital expenditures; timelines; strategic plans;
completion of transactions; market prices for precious and base
metals; intended use of proceeds; 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 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 Corporation and Teck
Resources Limited for the continued exploration and development of
the Donlin Gold 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, 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 NOVAGOLD's Annual Information Form for the year-ended November 30,
2012, 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 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, all resource and reserve estimates included in this press
release have been prepared in accordance with National Instrument
43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and
the Canadian Institute of Mining, Metallurgy, and Petroleum
Definition Standards on Mineral Resources and Mineral Reserves. NI
43-101 is a rule developed by the Canadian Securities Administrators
which establishes standards for all public 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 resource 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 any part or
all of mineral deposits in these categories will ever be converted
into reserves. U.S. investors should also understand that "inferred
mineral resources" have a great amount of uncertainty as to their
existence and great uncertainty as to their economic and legal
feasibility. It cannot be assumed that all or any part of an
"inferred mineral resource" will ever be upgraded to a higher
category. Under Canadian rules, estimated "inferred mineral
resources" 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" exists or is
economically or legally mineable. Disclosure of "contained ounces" in
a resource is permitted disclosure under Canadian regulations;
however, the SEC normally only permits issuers 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. 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. 
Contacts:
NOVAGOLD RESOURCES INC.
Melanie Hennessey
Vice President, Corporate Communications
604-669-6227 or 1-866-669-6227 
NOVAGOLD RESOURCES INC.
Erin O'Toole
Analyst, Investor Relations
604-669-6227 or 1-866-669-6227
 
 
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