Greenstone Gold Mines signs Definitive Agreement with Long Lake #58 First Nation
An aerial view of the Geraldton-Beardmore Greenstone Belt in Ontario, Canada. — Photo courtesy Premier Gold Mines Limited
Premier Gold Mines Limited ("Premier") (TSX: PG) is pleased to announce that Greenstone Gold Mines Inc. ("GGM"), a 50/50 joint venture between Premier and Centerra Gold Inc., has signed a Definitive Agreement ("DA") with Long Lake #58 First Nation ("LL#58FN") with respect to the development and operation of the Hardrock Project ("Project"), located in the Geraldton-Beardmore Greenstone Belt in Ontario, Canada.
This important milestone follows the thorough negotiation with LL#58FN involving open and respectful engagement, the result of which is an agreement built around trust, mutual respect, and the sincere commitment of all those involved. This agreement recognizes the rights and interests LL#58FN has within their traditional territory, and the rights and interests GGM has as owner and operator of the Project. The agreement also formalizes GGM's commitment toward protecting the environment and supporting First Nation social and cultural practices in the spirit of true and continued collaboration.
"We are proud to stand together with Long Lake #58 First Nation in celebration of this achievement," stated Eric Lamontagne, Greenstone Gold Mines General Manager, "This is an agreement that will deliver sustainable, economic and social benefits to the community for decades to come".
"This Agreement is the product of a relationship that was forged many years ago; a relationship that has and will continue to play an important role in the advancement of this Project through permitting toward production," stated John Begeman, Executive Chairman of Premier. "As the largest deposit within Premier's portfolio, the Hardrock deposit remains a key asset in growing our production profile in the coming years".
The DA outlines provisions for environmental monitoring, employment, training, business and contracting opportunities, along with a framework for regulatory permitting that extend not only to the Hardrock open pit, but to all properties within GGM's regional portfolio that lie within the traditional territory of LL#58FN. It is an agreement that establishes increased clarity regarding GGM's ability to develop and LL#58FN's opportunity to benefit from future mining opportunities in the region with the potential to extend the life of this Project beyond its current 15 year lifespan.
"We want to acknowledge the positive working relationship that we have had with GGM and we have an agreement that will provide our community with long-term benefits, enhanced and meaningful environmental participation, business opportunities, employment and training, and financial benefits," said Veronica Waboose, Chief of Long Lake #58 First Nation.
This marks the first agreement with a First Nation community that has asserted its rights and interest near the Project, and GGM is currently negotiating similar agreements with the other impacted communities.
Premier Gold Mines Limited is a gold producer and respected exploration and development company with a high-quality pipeline of precious metal projects in proven, accessible and safe mining jurisdictions in Canada, the United States, and Mexico.
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