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MNO Meridian Mining UK Societas

1.03
0.00 (0.00%)
15 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Meridian Mining UK Societas TSXV:MNO TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.03 0.96 1.05 0 01:00:00

Detour Gold Concludes Impact and Benefit Agreement with Metis Nation of Ontario

19/01/2012 9:03pm

Marketwired Canada


Detour Gold Corporation (TSX:DGC) ("Detour Gold" or the "Company") and the Metis
Nation of Ontario ("MNO"), as represented by its President Gary Lipinski and the
MNO's Regional Consultation Committee for the James Bay-Abitibi/Temiscamingue
areas are pleased to announce that they have finalized an Impact and Benefit
Agreement ("IBA") with respect to the development and operation of the Company's
Detour Lake gold mining project in northeastern Ontario. A formal signing
ceremony will be held in the near future.


The IBA includes provisions on how the Metis community will benefit from the
development of the Detour Lake project and throughout the life of the mine,
including employment and business opportunities, training and education
initiatives and financial participation in the project. The IBA also establishes
a Metis scholarship and bursary program at College Boreal and Northern College.
Further details about the scholarships criteria will be released in partnership
with the colleges in their student handbooks. The IBA reflects Detour Gold's
commitment to protecting the environment and wildlife, and supporting the
community's social and cultural practices in a spirit of continued cooperation.


Gerald Panneton, President and CEO of Detour Gold, stated, "We are very pleased
with our working relationship with the MNO and to have this agreement in place.
It is exciting that they have partnered with us to create the Metis scholarships
and bursaries at the colleges that will provide educational financial support to
Metis youth for the next two decades."


MNO's President, Gary Lipinski, commented, "This IBA is the first-of-its-kind
between a mining company and a Metis community. It represents a significant step
forward in relations between the mining industry and Ontario Metis. We applaud
Detour Gold's leadership in working collaboratively with the Metis community on
environmental issues and ensuring it will benefit from the Detour Lake project."



Marcel Lafrance, Chair of the MNO Regional Consultation Committee for the James
Bay-Abitibi/Temiscamingue areas, highlighted, "This IBA could not have been
achieved without the support and engagement of the Metis community as well as
cooperation amongst the Community Councils in the region. We look forward to
continuing to work with Detour Gold for the benefit of our citizens and the
future success of our youth." 


About Detour Gold

Detour Gold is a Canadian gold exploration and development company whose primary
focus is to advance the development of its Detour Lake gold project, located in
northeastern Ontario, towards production. Detour Gold's shares trade on the
Toronto Stock Exchange under the trading symbol DGC.


About the MNO

The MNO represents Metis citizens and communities throughout Ontario. For more
information about the MNO visit www.metisnation.org. 


Forward-Looking Information 

This news release contains certain forward-looking information as defined in
applicable securities laws (referred to herein as "forward-looking statements").
Specifically, this news release contains forward-looking statements regarding
the development of the Detour Lake project and the positive economic and
educational benefits that the project will provide to the Metis community.
Forward-looking statements involve known and unknown risks, uncertainties and
other factors which are beyond Detour Gold's ability to predict or control and
may cause Detour Gold's actual results, performance or achievements to be
materially different from any of its future results, performance or achievements
expressed or implied by forward-looking statements. These risks, uncertainties
and other factors include, but are not limited to, gold price volatility,
changes in debt and equity markets, the uncertainties involved in interpreting
geological data, increases in costs, environmental compliance and changes in
environmental legislation and regulation, interest rate and exchange rate
fluctuations, general economic conditions and other risks involved in the gold
exploration and development industry, as well as those risk factors discussed in
the section entitled "Description of Business - Risk Factors" in Detour Gold's
July 27, 2011 short form prospectus and in the continuous disclosure documents
filed by Detour Gold on and available at www.sedar.com. 


Such forward-looking statements are also based on a number of assumptions which
may prove to be incorrect, including, but not limited to, assumptions about the
following: the availability of financing for exploration and development
activities; the estimated timeline for the development of the Detour Lake gold
project; the supply and demand for, and the level and volatility of the price
of, gold; the results of the feasibility study and the assumptions on which the
feasibility study is based; the accuracy of reserve and resource estimates and
the assumptions on which the reserve and resource estimates are based; the
receipt of necessary permits; market competition; ongoing relations with
employees and impacted communities; and general business and economic
conditions. Accordingly, readers should not place undue reliance on
forward-looking statements. Detour Gold undertakes no obligation to update
publicly or otherwise revise any forward-looking statements contained herein
whether as a result of new information or future events or otherwise, except as
may be required by law. Certain information contained in this news release may
be deemed "forward looking". All statements in this news release, other than
statements of historical fact, that address events or developments that Detour
Gold or Trade Winds expect to occur, are "forward-looking statements".
Forward-looking statements involve known and unknown risks, uncertainties and
other factors which are beyond Detour Gold's or Trade Winds' ability to predict
or control and may cause actual results, performance or achievements to be
materially different from any future results, performance or achievements
expressed or implied by forward-looking statements.


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