Date Closed

February 7, 2012

Lead Office

Vancouver

Value

332.56 Million USD

On February 7, 2012, NovaGold Resources Inc. announced that it completed its previously announced bought deal equity offering of 35 million common shares, at a price of US$9.50 per share, for net proceeds of approximately US$318.9 million after deducting underwriter commission and expenses. The syndicate of underwriters, led by RBC Capital Markets and J.P. Morgan Securities LLC, included BMO Capital Markets, Dahlman Rose & Company, National Bank Financial Inc. and TD Securities.

NovaGold will use the net proceeds of the offering to fund further development of its 50%-owned Donlin Gold project; to fund care, maintenance, continued exploration and engineering studies at its 50%-owned Galore Creek project; to fund the spin-out of NovaCopper (which includes continued exploration of its Ambler project); for closure activities at Rock Creek Mine; for general corporate purposes; and for general working capital.

NovaGold Resources is a Vancouver-based precious metals company engaged in exploring and developing mineral properties primarily in Alaska and British Columbia.

McCarthy Tétrault LLP represented RBC Dominion Securities, the underwriter, with a team led by Michael Urbani.