More Spending Noted

When I read the article on capital spending I was surprised not to see a mention of NovaGold’s Galore Creek gold-silver-copper project in British Columbia since it is one of the largest exploration/engineering programs in the province this year. Currently we are in the process of completing a 20,000-m prefeasibility drill program, with a total budget in excess of $12 million through end of December 2004.

As well, Placer Dome, the joint venture partner on our Donlin Creek gold project in Alaska, has budgeted $8 million toward prefeasibility studies on that project in 2004. In addition, NovaGold is spending $7.5 million toward the feasibility drilling and engineering on our Rock Creek gold project outside of Nome, Alaska.

Greg Johnson, VP corporate communications and strategic development NovaGold Resources Inc. Vancouver, B.C.