NovaGold Resources Completes US$332.5M Bought Deal Equity Offering

NovaGold Resources Inc. completed a bought deal equity offering of 35,000,000 common shares at US$9.50 per share for gross proceeds of US$332.5 million. The common shares were offered by way of the Company's short form base shelf prospectus dated January 5, 2012 as supplemented by a prospectus supplement dated February 2, 2012 filed in all provinces of Canada (other than Québec), and in the United States, pursuant to the multi-jurisdictional disclosure system.

The offering was made through a syndicate of underwriters co-led by RBC Capital Markets and J.P. Morgan Securities LLC and including BMO Capital Markets, Dahlman Rose & Company, National Bank Financial Inc. and TD Securities.

NovaGold's shares are listed on the TSX and the NYSE Amex LLC under the symbol NG. NovaGold is a precious metals company engaged in the exploration and development of mineral properties primarily in Alaska, and British Columbia.

Blake, Cassels & Graydon LLP acted as Canadian counsel to NovaGold, with a team that included Peter Kalbfleisch, Trisha Robertson, Ashley Baker and Kyle Misewich (securities) and Kevin Zimka (tax). Dorsey & Whitney LLP acted as US counsel to NovaGold, with a team that included Christopher Barry, Kimberley Anderson and Jon Leptich (securities).

McCarthy Tétrault LLP acted as Canadian counsel to the underwriters with a team that included Michael Urbani, Adam Wanke, Jonathan Duckles and Sarah Cunningham (securities) and TJ Kang (tax). Skadden, Arps, Slate, Meagher & Flom LLP acted as US counsel to the underwriters with a team that included Ricardo Leofanti, Mark Steinman and Vittoria Varalli (securities).

Lawyer(s)

Sarah Jean Cunningham Peter C. Kalbfleisch Chris Barry Jonathan Duckles Ashley Baker Trisha L. Robertson Riccardo Leofanti Kimberley R. Anderson Michael G. Urbani Mark Steinman T.J. Kang Adam D. Wanke Kevin Zimka

Firm(s)

Blake, Cassels & Graydon LLP McCarthy Tétrault LLP Dorsey & Whitney LLP Skadden, Arps, Slate, Meagher & Flom LLP