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Galore Creek Project ♦ Ownership Through Subsidiary SpectrumGold ♦ Historically Defined 314 Mt Resource bv Kennecott ai

Central and Southwest Zones: - 5 Million Ounces Gold - 60 Million Ounces Silver - 5 Billion Pounds Copper

♦ Development Target of 150 Million Tonnes Grading: 1 g/t Gold, 10 g/t Silver

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Galore Creek Project

Potential Project Annual Gold Production: 150-250,000 Oz/Yr Gold NovaGolcTs Share of Production 100-150.000 Oz/Yr

r fn^f Gold Producer

ears

allurgy or TreatmeiL

Jopper Concentrate Tremendous Exploration Upside - Only 2 of 12 Mineralized Zones Well Defined

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NovaGold's Projected Production Grov\

. : mKS

1 ' 1 m

B

. : mKS

B

600 J H H sf 600 ■ ; }

9 500 j .

0 a 40®

F"- ''■'■'-■^isB I 0 a 40®

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O 300 B : - H 0B ';■;.''" ■. H

1 - 1 B?/;: H B f fl

- -

"§200 I i y

B : - H 0B ';■;.''" ■. H

1 - 1 B?/;: H B f fl

2006 2007 2008 2009 2010

Net Production Based On Mid-Range Estimate (After All Earn-Ins and Mmoritv Interests)

Projected irst St ait }rod»ctio

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y<>id Galore Qysryjsvy Purjcrj

Copper Canyon

Galore Creek Exploration Camp

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2005 Field Season: Feasibility drill program, technical and environmental baseline studies

Resource Updates Completed

Pre-Feasibility Study 65,000 tpd

Feasibility Drill Program 60,000+ m

Submit Permit Documents

Feasibility Resource Update

Final Feasibility Study

Permit Approvals

Construction Underway

Production Start-up

2H 2005

Q4 2005 1H 2006 2H 2006 2006/07 2007/08

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Galore Creek Deoosi : 3D mm jvjrjcjsj

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"Wffc

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