CORRECT: NovaGold to Transfer Rock Creek as Part of Focus on Donlin Gold

Date : 06/11/2012 @ 10:11AM
Source : Dow Jones News
Stock : Barrick Gold Corp. (ABX)
Quote : 16.42  0.0 (0.00%) @ 5:18AM

CORRECT: NovaGold to Transfer Rock Creek as Part of Focus on Donlin Gold

Novagold Resources I (AMEX:NG)
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("NovaGold to Transfer Rock Creek as Part of Focus on Donlin Gold," at 9:27 a.m. EDT, misspelled Donlin in the headline. The correct version follows:)

 
     By Carolyn King 
 

NovaGold Resources Inc. (NG) will transfer its Rock Creek property in Nome, Alaska to Bering Straits Native Corp. in order to focus on its 50%-owned high-grade Donlin Gold project in the state.

Terms weren't disclosed. Bering Straits Native Corp. is owned by Alaskan Natives.

NovaGold said the divestiture will allow it to focus on advancing Donlin Gold, which it owns jointly with Barrick Gold Corp. (ABX), toward permitting. NovaGold considers Donlin Gold a key asset because it's expected to be one of just a handful of gold mines worldwide that produces more than 1 million ounces of gold annually.

Write to Carolyn King at carolyn.m.king@dowjones.com

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