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Transaction/Case Details

NovaGold completes C$229 million public offering

DATE CLOSED

April 24, 2007

BUSINESS SECTOR

Financial Services

LEAD OFFICE

Vancouver

VALUE

229 Million CAD


OVERVIEW

On April 24, 2007, NovaGold Resources, a company engaged in the exploration and development of mineral properties in Alaska and Western Canada, completed a public offering of 12.5 million common shares in Canada and the United States at a price of C$18.33 per share for gross proceeds of approximately C$229 million.  The public offering was made pursuant to a prospectus supplement to NovaGold’s short-form base shelf prospectus dated April 16, 2007 filed in both Canada and the United States under the multijurisdictional disclosure system.  NovaGold’s common shares are listed for trading on the Toronto Stock Exchange and on the American Stock Exchange.

Proceeds of the offering will fund initial construction and exploration NovaGold’s Galore Creek Project, one of the largest undeveloped copper-gold projects in the world that will bring benefits to British Columbia, local communities and shareholders for decades to follow.

NovaGold  is a junior mining company with assets in British Columbia and Alaska.

McCarthy Tétrault LLP advised the underwriters with a team that included Michael Urbani, Richard Balfour, and C. Byun.

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