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Strategies & Market Trends : Alamos Gold -- Ignore unavailable to you. Want to Upgrade?

To: Chuca Marsh who wrote (2717)	5/31/2002 5:53:48 PM
From: Chuca Marsh	Read Replies (1) \| Respond to of 4470

I will Pick Nova Gold exploring in Alaska at a gold targets Deposit: Shot Gun...NRI will they have a US warrant traded as NRA? A joke. NRI-t $4.55 Last News on the 30th: NovaGold Resources Inc (2) - News Release NovaGold finalizes Shotgun joint venture, elects board NovaGold Resources Inc (2) NRI Shares issued 31,773,421 May 30 2002 close $4.500 Thursday May 30 2002 News Release Mr. Rick Van Nieuwenhuyse of NovaGold reports EXPLORATION PROGRAM TO BEGIN AT SHOTGUN, NOVAGOLD ADDS TO MAN ... NovaGold has completed the final joint venture agreement with TNR Resources Ltd. on NovaGold's 100-per-cent-owned Shotgun gold deposit in southwestern Alaska. Under the terms of agreement TNR Resources can earn up to a 50-per-cent interest in the million-ounce Shotgun gold deposit by spending $3-million (U.S.) on exploration over the next four years to advance the project toward a production decision. TNR Resources has a further option to earn an additional 20-per-cent interest in the Shotgun project subject to a back-in option for NovaGold. Final planning is under way for a $500,000 (U.S.) exploration program in 2002. Management team strengthened, new director elected The company is also pleased to announce the recent election of the board of directors of the company and the addition of key personnel to the NovaGold management team. The expanded management team and board bring considerable operational experience and depth to the company to achieve the objective of advancing the world-class Donlin Creek deposit to production. At the recent annual general meeting the following directors were elected: Walter Segsworth, Pierre Besuchet, George Brack, Gerald McConnell, Cole McFarland, Clynton Nauman and Rick Van Nieuwenhuyse. Management would like to welcome Mr. Segsworth and looks forward to his input and influence. The management of NovaGold wishes to thank Angus MacIssac, who recently retired, for his years of valuable service to the company. Mr. Segsworth has over 25 years experience in the mining industry and most recently was president and chief operating officer and a director of Homestake Mining company prior to the company merging with Barrick Gold Corporation. He was also formerly president and chief executive officer of Homestake Canada, Inc., Prime Resources Group Inc. and Westmin Resources Limited. Mr. Segsworth began his career with Noranda Minerals Limited where he served in a number of managerial capacities at several mining operations. Mr. Segsworth brings extensive operational and mine building experience to NovaGold and will lead the independent board level technical committee on the continuing prefeasibility study for the Donlin Creek project. The board of directors has also appointed new officers of the corporation for the upcoming year. Joining the NovaGold management team is Alex Morrison as vice-president, finance, and chief financial officer, Janice Stairs as corporate secretary, and Doug Nicholson as senior projects engineer. The management of NovaGold extends thanks to former secretary-treasurer Glenn Holmes for his years of valuable service to the company. Mr. Morrison brings over 16 years of international mining finance experience to NovaGold. Most recently Mr. Morrison was vice-president and controller of Homestake Mining company. In addition, Mr. Morrison previously served as controller of Stillwater Mining company and has held senior financial positions with Phelps Dodge Corporation and in PricewaterhouseCoopers's global energy and mining group. He holds a bachelor of arts degree in business administration from Trinity Western University and is a chartered accountant and a certified public accountant. Ms. Stairs is a partner with the law firm of Patterson Palmer located in Halifax, N.S. Ms. Stairs has practised law in private practice for the last 17 years specializing in corporate finance, securities and resource-related issues for private and public companies. Ms. Stairs holds a law degree from Dalhousie University in Halifax, N.S., and a master's degree in business administration from Queen's University in Kingston, Ont. Mr. Nicholson brings over 18 years of mine development and operations experience to NovaGold. Most recently Mr. Nicholson was responsible for mine development engineering at Kinross Gold's 400,000-ounce-per-year open-pit Fort Knox and True North mines in Fairbanks, Ala. Prior to his work at Kinross, Mr. Nicholson was chief mine engineer for Cambior at the Valdez Creek mine in Alaska. Mr. Nicholson has a bachelor of science degree in mine engineering from the University of Alaska, Fairbanks. Donlin Creek prefeasibility drilling continues NovaGold has initiated a $8-million (U.S.) prefeasibility study program at its Donlin Creek project. The program will include approximately $6-million (U.S.) in drilling and $2-million (U.S.) in engineering, environmental and other studies. A multistaged drill program has been designed to upgrade the inferred resources to the higher measured and indicated categories and to expand the currently defined resource beyond the currently drilled areas. The focus of the drill program will be to delineate additional near-surface, high-grade material. Prior to this year's drill program the company had expended approximately $2.8-million (U.S.) on exploration at Donlin Creek. It is anticipated that the company will expend a total of $10-million (U.S.) before the end of the year and thereby earn its 70-per-cent interest in the Donlin Creek project. The Donlin Creek prefeasibility drill program was started in early April with two diamond core drills and one reverse circulation rotary drill (RVC) working on the property. To date a total of 7,200 metres (24,000 feet) of core and RVC drilling has been completed in the prefeasibility drill program. Additional drill results including the first follow-up core holes at the new Akivik discovery are anticipated to be available by the first week of June, just prior to the upcoming mining analyst visit to the Donlin Creek project. (c) Copyright 2002 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing) Detailed Quote NOVAGOLD RESOURCES INC