NOVAGOLD RES INC

Ticker: NG CUSIP: 66987E206 Class: Common Stock

MONTRUSCO BOLTON INVESTMENTS INC.'s Holding History (CIK: 0001475940)

Note: Option positions (PUT/CALL) are excluded.

Q3 2015

Shares 34,770 Value ($000) $125 Avg Close $3.37 Range $2.65 - $3.88

Q2 2015

Shares 32,060 Value ($000) $110 Avg Close $3.80 Range $2.90 - $4.25

Q1 2015

Shares 96,700 Value ($000) $285 Avg Close $3.50 Range $2.72 - $4.14

Q3 2014

Shares 120,000 Value ($000) $363 Avg Close $3.75 Range $3.02 - $4.40

Q2 2014

Shares 143,610 Value ($000) $607 Avg Close $3.54 Range $2.91 - $4.40

Q1 2014

Shares 121,060 Value ($000) $442 Avg Close $3.41 Range $2.54 - $4.62

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2015	34,770	$125	$3.37	$2.65 - $3.88
Q2 2015	32,060	$110	$3.80	$2.90 - $4.25
Q1 2015	96,700	$285	$3.50	$2.72 - $4.14
Q3 2014	120,000	$363	$3.75	$3.02 - $4.40
Q2 2014	143,610	$607	$3.54	$2.91 - $4.40
Q1 2014	121,060	$442	$3.41	$2.54 - $4.62