The TSX Venture Exchange has accepted for expedited filing documentation of a purchase agreement dated Sept. 28, 2010, between TNR old Corp. and NovaGold Resources Alaska Inc. whereby the issuer will acquire a 50-per-cent interest (which when combined with interests already held by the issuer in the property, which will result in the issuer holding a 100-per-cent interest in the property) in the Shotgun property located in southwestern Alaska.

The consideration payable to the vendor consists of six million shares and three million warrants. Each warrant is exercisable to acquire one common share of the issuer for a period of three years at a price of 20 cents per share during the first year, at 25 cents per share during the second year and at 30 cents during the third year of the warrant term.

The vendor will retain a 2-per-cent net smelter return royalty.