Air-Sealing a Basement - Fine Homebuilding
The best way to seal leaks in the rim-joist area is with a high-quality caulk. Once these cracks are caulked, you may want to reduce air leaks further by installing a layer of closed-cell spray at the rim-joist area using a two-component spray- kit. (See "Spray for the Rest of Us," FHB #221.)