On 22 April, Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) announced that it has reached an agreement to sell the 50% interest in the Donlin Gold Project in Alaska held by Barrick's subsidiary Barrick Gold U.S. Inc. to affiliates of Paulson Advisers LLC (Paulson) and NOVAGOLD Resources Inc. (NYSE American, TSX:NG) for USD1-billion in cash. In addition, Barrick has granted NOVAGOLD an option to purchase the outstanding debt owed to Barrick in connection with the Donlin Gold Project for USD90-million if purchased prior to closing, or for USD100-million if purchased within 18 months from closing, when the option expires. If that option is not exercised, the debt will remain outstanding, substantially in accordance with its existing terms.