NovaGold Resources Inc.: Exhibit 99.1 - Filed by newsfilecorp.com
 |
News
Release |
NYSE-AMEX,
TSX Symbol: NG |
NovaGold Provides 2012 Annual and Special Meeting of
Shareholders
Conference Call and Webcast Details and
Releases its 2011
Annual Integrated Report
May 14, 2012 - Vancouver, British Columbia - NovaGold
Resources Inc. (TSX, NYSE MKT: NG) (“NovaGold” or “the Company”) is pleased
to announce that the Company’s 2012 Annual and Special Meeting of Shareholders
will take place on Tuesday, May 29 at 2:00 pm (PDT) at the Fairmont Pacific Rim
Hotel (1038 Canada Place Way) in the Star Sapphire C room. NovaGold is also
pleased to announce that the 2011 Annual Integrated Report has been filed on
SEDAR and EDGAR and is available on the homepage of the Company’s website at
www.novagold.com.
Annual and Special Meeting of Shareholders Conference Call
and Webcast Details
The Annual and Special Meeting of Shareholders will be
available by conference call or online via live webcast. The details are as
follows:
| Tuesday, May 29 at 2:00 pm PDT (5:00 pm EDT)
|
| Online: www.meetview.com/novagold or
www.novagold.net |
| North American callers: 1-866-212-4491 |
| International callers: 1-416-800-1066
|
NovaGold welcomes its shareholders and any interested parties
to participate in the Annual and Special Meeting of Shareholders. The webcast
will be archived on NovaGold’s website for one year; and the conference call
replay will be available for 14 days. To access the conference call replay
please dial 1-866-583-1035 followed by your Access PIN: 9537294. For a
transcript of the call please email info@novagold.net.
NovaGold’s 2011 Annual Integrated Report
NovaGold’s 2011 Annual Integrated Report covers a
transformational period in NovaGold’s 15-year history. Across the entire arc of
its asset base, the Company’s projects were de-risked by the following positive
developments:
- Donlin Gold, NovaGold’s flagship project, successfully passed feasibility
and has emerged as perhaps the most important gold development asset in the
world today;
- Galore Creek, a major copper/gold asset, successfully passed
pre-feasibility and has been shown to have the potential to be Canada's
largest copper mine;
- Ambler is a copper-rich district now owned by NovaCopper Inc. (an
independent publicly traded company), which was spun out from NovaGold earlier
this month. One of its deposits, called Arctic, was the subject of a positive
Preliminary Economic Assessment. In addition, significant high-grade
intersections were obtained from drill results on the Bornite deposit, also
located in the Ambler district, which is emerging as one of the industry's
most exciting copper exploration plays.
“Armed with these exceptional results, our management team and
Board of Directors recognized the need, and devised a strategic plan, to unlock
the value of the Company’s world-class mining development and exploration
assets,” said Gregory A. Lang, NovaGold’s President and Chief Executive Officer.
“With the successful execution of this strategy, and now also being in the fortunate position of having a robust balance sheet, we
have created, quite possibly, the most significant de-risked development-stage
company in our sector.”
NovaGold Resources Inc.
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About NovaGold
NovaGold is a well-financed precious metals company engaged in
the exploration and development of mineral properties in North America. The
Company’s flagship asset is the 50%-owned Donlin Gold project. With
approximately 39 million ounces 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, highest-grade, and
most prospective gold projects in the world. According to the 2011 Feasibility
Study, once in production, Donlin Gold should average approximately 1.5 million
ounces of gold production per year for the first five years, followed by decades
of more than one million ounces per year. Donlin Gold is located in Alaska, one
of the safest jurisdictions in the world. 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, when put into production, is
expected to be the largest copper mine in Canada, a tier-one jurisdiction. The
Company is exploring opportunities to sell all or a portion of its interest in
Galore Creek and intends to 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 Gold Project NI 43-101
Technical Report” 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 preparation of the
independent technical report, each of whom are independent "qualified persons"
as defined by NI 43-101.
NovaGold Contact
Mélanie Hennessey
Vice President, Corporate Communications
Ariadna D. Peretz
Analyst, Investor Relations
604-669-6227 or 1-866-669-6227
NovaGold Resources Inc.
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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, 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, 2011, 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.
NovaGold Resources Inc.
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