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Gold/Mining/Energy : NOVAGOLD RESOURCES INC. (TSE:NRI; OTC BB: NVGLF)

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To: Al Collard who wrote (75)	6/5/2002 10:24:25 PM
From: AH	Read Replies (1) of 137

NovaGold finds gold mineralization at Akivik and Lewis NovaGold Resources Inc (2) NRI Shares issued 31,773,421 Jun 4 2002 close $4.900 Wednesday Jun 5 2002 News Release Mr. Rick Van Nieuwenhuyse reports NOVAGOLD RESOURCES INC. - MORE GOLD INTERSECTED IN TWO NEW ZO ... NovaGold has provided results from the continuing prefeasibility and exploration program at the Donlin Creek gold deposit. Highlights are as follows: follow-up core holes at the new Akivik zone continue to intercept significant gold mineralization; additional step-out exploration drill holes have intercepted a new mineralized zone south of the Lewis resource area. Assay results are pending; in-fill drill results on the Acma zone include: drill hole DC02-679 with 90.6 metres grading 4.4 grams per tonne (g/t) (297.3 feet grading 0.13 ounce per ton); 8,100 metres (26,650 feet) have been drilled to date in 72 holes. Assay results are complete for the first 40 core and rotary holes in the program; and senior mining investment analysts and representatives of both Calista Native Corporation and the State of Alaska to be on-site at the Donlin Creek project this week. Follow-up core holes confirm new Akivik gold zone discovery The first follow-up core holes at the new Akivik discovery located one-half kilometre north of the high-grade Acma zone have continued to intercept significant gold mineralization. Additional step-out drilling will be necessary to define the extent of the new zone which remains open in all directions. This new zone lies outside the existing resource area and will add new ounces in the next resource estimate. Second new zone discovered south of Lewis resource area Step-out exploration drilling one-half kilometre south of the Lewis zone has intercepted significant mineralized intervals of intrusive porphyry. The first exploration drill holes in this new target contain up to 44 metres of stockwork veining and abundant sulphide mineralization within intrusive rocks. Assay results are still pending. Follow-up core drilling to define potential new resources is continuing. Acma in-fill results continue to be outstanding Drilling in the Acma zone also continues, with outstanding results from the two most recent in-fill holes designed to upgrade inferred resources to the measured and indicated categories. Drill hole DC02-679 contains 90.6 metres grading 4.4 g/t (297.3 feet grading 0.13 ounce/ton) and DC02-683 contains numerous intervals grading over three g/t gold. Work throughout the summer program will continue to focus on additional in-fill and step-out exploration drilling for a revised resource estimate as part of the prefeasibility study. Analysts to make first Donlin site visit Eight senior mining investment analysts and representatives of both Calista Native Corporation and the State of Alaska, as well as the news media, are to visit the Donlin Creek project this week. This is the first mining analyst visit to the Donlin Creek project. To ensure full and fair disclosure of exploration results all assays received to date have been released. In future, summary exploration results will be reported on approximately a monthly basis. DONLIN CREEK NEW DRILL RESULTS HIGHLIGHTS DHID Interval Length (m) (m) DC02-679 0.4-91.0 90.6 DC02-683 10.5-41.8 31.3 72.5-90.8 18.3 137.6-171.0 33.4 193.5-198.5 5.0 DC02-684 8.0-14.0 6.0 DC02-687 154.0-197.5 43.5 DC02-688 66.0-83.9 17.9 96.0-115.0 19.0 DC02-689 8.9-32.0 23.1 DC02-690 30.5-44.2 13.7 71.8-92.0 20.2 DC02-691 73.7-102.0 28.3 DC02-692 92.9-132.1 39.3 DR02-644 48.8-73.5 24.4 DR02-646 45.7-51.8 6.1 DR02-647 47.2-51.8 4.6 DR02-648 56.9-64.0 7.6 DHID Gold Length Gold (g/t) (ft) (oz/t) DC02-679 4.4 297.3 0.13 DC02-683 4.5 102.7 0.13 3.7 60.1 0.11 3.5 109.6 0.10 8.9 16.4 0.26 DC02-684 4.2 19.7 0.12 DC02-687 3.6 142.7 0.10 DC02-688 5.6 58.6 0.16 3.1 62.5 0.09 DC02-689 2.3 75.8 0.07 DC02-690 2.7 45.0 0.08 2.1 66.4 0.06 DC02-691 3.1 92.7 0.09 DC02-692 2.7 128.8 0.08 DR02-644 3.3 80.0 0.09 DR02-646 2.8 20.0 0.08 DR02-647 3.8 15.0 0.11 DR02-648 3.8 25.0 0.11 DHID Type Area Objective DC02-679 core Acma in-fill DC02-683 core Acma in-fill DC02-684 core South exploration Lewis DC02-687 core Akivik exploration DC02-688 core Akivik exploration DC02-689 core Akivik exploration DC02-690 core Akivik exploration DC02-691 core Akivik exploration DC02-692 core Akivik exploration DR02-644 rotary Akivik exploration DR02-646 rotary Akivik exploration DR02-647 rotary Akivik exploration DR02-648 rotary Akivik exploration Drill hole location maps will be available on the NovaGold Web site. The drill program and sampling protocol are managed by NovaGold with oversight provided by qualified person Phil St.George, vice-president of exploration and project manager for NovaGold. All drill samples were analyzed by fire assay at ALS Chemex Labs in Vancouver, B.C.

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