NovaGold Provides Update on Projects and Announces New Director

NovaGold Resources Inc. (TSX: NG)(AMEX: NG) today provided an update on its portfolio of projects and announced the appointment of a new director to its Board. NovaGold shareholders voted Mr. Kalidas Madhavpeddi to the Board of Directors at NovaGold's Annual General Meeting held on May 31.

Mr. Madhavpeddi brings over 25 years of experience in business development, corporate strategy, global mergers and acquisitions, marketing, trading and sales to NovaGold's Board of Directors. Mr. Madhavpeddi has an M.Sc. in Industrial Management from University of Iowa and completed the Advanced Management Program at Harvard Business School. After over 25 years with Phelps Dodge, at that time the world's largest publicly traded copper company, Mr. Madhavpeddi now works as President, Azteca Consulting LLC, an investment and advisory company to the mining industry. Mr. Madhavpeddi has held various executive positions at Phelps Dodge including Senior Vice President, Business Development, President, Phelps Dodge Wire and Cable Co., and Senior Vice President, Phelps Dodge Sales Company. Mr. Madhavpeddi's business and operations experience will be invaluable as NovaGold transitions to production and operations later this year. Mr. Madhavpeddi replaces Mr. George Brack on NovaGold's Board of Directors.

"Since joining NovaGold's Board in 2001, George Brack's knowledge of the mining industry and in particular his experience with M&A work has been instrumental in guiding NovaGold's senior management team as we have been advancing our company from an exploration-stage company to a mid-tier producer," said Rick Van Nieuwenhuyse, NovaGold's President and CEO. "I would like to personally thank Mr. Brack for his contributions to NovaGold's Board, and we look forward to working with him in other capacities in the future."

Projects Update

Nome Operations

NovaGold anticipates transitioning from developer to junior gold producer later this year when it achieves production at its Rock Creek mine near Nome, Alaska. Construction at the Rock Creek mine is progressing well. Following the first blast on May 2, the Rock Creek team has been blasting almost daily to obtain waste rock to build the causeway and tailings dam. Construction of the mill site continues and leach tanks are in place. First gold production is targeted for Q3-2007, with commercial production estimated at 100,000 ounces annually anticipated by year end.

The Bering Strait Citizens for Responsible Resource Development and two individuals have re-filed a lawsuit against the U.S. Army Corps of Engineers ("Corps") challenging the issuance of a wetlands permit for the Rock Creek project and asking for a temporary restraining order and preliminary injunction against the project. The United States District Court for the District of Alaska will hear the case on June 7, 2007. NovaGold has intervened in the lawsuit and believes the Corps' three-month review and subsequent re-issuance of the permit in March 2007 was adequate to address the complaints in the lawsuit. Although NovaGold considers it unlikely, should the Court grant an injunction NovaGold could be delayed in its start of production.

Galore Creek

On May 23, NovaGold announced its partnership with Teck Cominco to build the Galore Creek mine. To earn its 50% interest in the Galore Creek partnership, Teck Cominco will fund the next approximately US$478 million (C$520 million) in construction costs, with each company responsible for its pro rata share of funding thereafter. In addition, NovaGold will receive up to US$50 million of preferential distributions once Galore Creek is fully operational, if the project exceeds certain agreed upon minimum revenues in the first year of commercial production. With over 540 million tonnes of reserves and approximately 1 billion tonnes of resources, there remains considerable potential to increase annual production and extend the mine life beyond 20 years.

NovaGold has received the Provincial permits required to complete significant pre-construction activities, including establishing construction camps and upgrading existing roads. The Galore Creek team has created staging and laydown areas and major equipment and personnel have been mobilized to site to ensure that full construction activities can begin immediately upon Board of Directors approval. NovaGold has accepted the Province's offer of a Surface Lease for the area to be occupied by the tailings facility and other mine-related infrastructure, and anticipates the imminent receipt of Federal approval for the project.

NovaGold and Teck Cominco will form joint management, finance, technical and exploration committees to manage construction and operations of the Galore Creek mine. All commitments and obligations under the Tahltan Participation Agreement, ratified by NovaGold and the Tahltan Nation in February 2006, will be honored by the partnership. Construction will proceed in accordance with NovaGold's previously announced budgets and timelines to achieve production by mid-2012, and the Galore Creek partnership will engage in exploration and technical studies aimed at increasing the value of the project by optimizing the additional resources that are not currently included in the Galore Creek Feasibility Study completed by Hatch Ltd. in October 2006.