NG.TO · 2013-02-28

Share-based payments 5,526 10,088 Finance costs, net 3,911 3,176 Foreign exchange gain (loss) 7,883 1,411 Gain (loss) on embedded derivative (840) 27,778 Gain (loss) on derivative (2,455) 18,543 Income (loss) for the period (13,782) 16,769

Resource Estimates

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Three months ended February 28, 2013 $		Three months ended February 29, 2012 $
Expenses(1) Share-based payments Finance costs, net Foreign exchange gain (loss) Gain (loss) on embedded derivative Gain (loss) on derivative InGeneral and administrative, salaries and severance, professional fees, and corporate and development expenses.come (loss) for the period Basic income (loss) per share Diluted income (loss) per share Cash and cash equivalents	3,474	5,866 10,088 3,176 1,411 27,778 18,543 16,769 0.07 (0.01) 342,576
	5,526
	3,911
	7,883
	(840)
	(2,455)
	(13,782)
	(0.05)
	(0.05)
	309,345

(1)General and administrative, salaries and severance, professional fees, and corporate and development expenses.

For the a 13.8 0 5 or 2 . in the

2012 . The fair value of the embedded derivative and derivative liabilities vary with changes in the Company’s share 6 million in the first

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1 - 877 - 546 - 5021 1 - 857 - 244 - 7553 The webcast will be archived on NOVAGOLD’s website for one year and the conference call replay will be available for 14 days - 888 - 286 - - 617 - 801 - 6888

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1 Proven and Probable reserves of 0.57 million ounces and 33.28 million ounces respectively (504.8 million tonnes at an average grade of approximately 2.09 grams per tonne) which are included in Measured and Indicated resources of 0.63 million ounces and 38.38 million ounces respectively (541 million tonnes at an average grade of approximately 2.2 grams per tonne).

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