The claims are held by NovaGold’s wholly owned subsidiary Alaska Gold.
Nome Gold Alaska Corp will pay Alaska Gold $21m in three installments, and will also provide a letter of credit for $4m as an environmental reclamation bond.
NovaGold president and CEO Rick Nieuwenhuyse said that the company is executing its strategy of bringing value from its non-core assets.
"NovaGold is focused on advancing its Donlin and Galore projects toward production with the objective of becoming a low-cost million-ounce-a-year gold producer," Nieuwenhuyse said.
NovaGold is a precious metals company engaged in the exploration and development of mineral properties in Alaska, US and British Columbia, Canada.
