Note 1 - The Company

12 Months Ended

Nov. 30, 2017

Notes to Financial Statements

Business Description and Basis of Presentation [Text Block]

NOTE

1

– THE COMPANY

NOVAGOLD RESOURCES INC. and its affiliates and subsidiaries (collectively, “NOVAGOLD” or the “Company”) operate in the mining industry, focused on the exploration for and development of gold and copper mineral properties. The Company has

no

realized revenues from its planned principal business purpose. The Company’s principal assets include a

50%

interest in the Donlin Gold project in Alaska, U.S.A. and a

50%

interest in the Galore Creek project in British Columbia, Canada. The Donlin Gold project is owned and operated by Donlin Gold LLC, a limited liability company that is owned equally by wholly-owned subsidiaries of NOVAGOLD and Barrick Gold Corporation (“Barrick”). The Galore Creek project is owned by the Galore Creek Partnership a partnership in which Teck Resources Limited (“Teck”) and a wholly-owned subsidiary of NOVAGOLD each own a

50%

interest.