MISTISSINI, QUÉBEC (October 7, 2014) The Grand Council of the Crees (Eeyou Istchee), the Cree Nation Government and the Cree Nation of Mistissini are pleased to announce that they have signed a pre-development agreement regarding the future exploration and pre-development of the Troilus Project in Eeyou Istchee with 8815046 Canada Ltd., a wholly-owned subsidiary of Copper One.
The Council of the Cree Nation of Mistissini approved the agreement on September 22, 2014. The approval of the agreement by the Grand Council of the Crees (Eeyou Istchee) and the Cree Nation Government on September 11, 2014 represents the support of the Cree Nation as a whole, and ensures a stable environment for the future exploration and pre-development of the Troilus Project.
The agreement reflects the parties’ common desire to promote a cooperative and mutually respectful relationship concerning the exploration and pre-development activities of Copper One for the Troilus Project in Eeyou Istchee Territory. Copper One has undertaken to provide meaningful Cree participation in the awarding of contracts for the supply of goods and services.
Should the project be advanced to a point where Copper One is required to file a “Notice of Intent” with the Ministère du Développement durable, de l’Environnement et de la Lutte contre les changements climatiques, Copper One has undertaken to then conduct a business and employment capacity study to assess the business and employment capacity within Mistissini. In addition, Copper One will also hire a community member as an environmental monitor, to enable the Parties to jointly monitor the activities of Copper One during the term of the agreement.
The Crees have agreed to support the project and to cooperate with Copper One in the preparation of environmental and social impact assessment studies, should Copper One advance the project to a stage where such studies are required. Similarly, should the project be advanced sufficiently, the Crees are also committed to use their best efforts to ensure that the project proceeds through the environmental and social assessment process provided for in the James Bay and Northern Québec Agreement, and, once environmental and social concerns are met, to assist Copper One in obtaining required governmental approvals.
Finally, the Parties have agreed that if Copper One has determined that the project is economically viable with the completion of a pre-feasibility study, to begin discussions towards concluding an Impacts and Benefits Agreement with respect to the Troilus Project.
“This agreement marks the beginning of a collaborative and fruitful relationship between the Crees and Copper One, a relationship based on an alignment of interests, founded on environmental and economic sustainability and the respect of Cree rights.” said Dr. Matthew Coon Come, Grand Chief of the Grand Council of the Crees (Eeyou Istchee). “It demonstrates the very essence of social acceptability and that natural resources development and the respect for Aboriginal rights can go hand-in-hand.”
Mr. Richard Shecapio, Chief of the Cree Nation of Mistissini, stated: “The Cree Nation of Mistissini welcomes the approach taken by Copper One regarding the Troilus Project. This approach, based on building a respectful and mutually beneficial relationship, takes into consideration our interests, our values, our culture and our way of life. This is how long lasting partnerships are built.”
G. Scott Moore, President and CEO of Copper One comments: “We are extremely pleased to have signed our pre-development agreement with the Cree Nation of Mistissini, The Grand Council of the Crees (Eeyou Istchee) and the Cree Nation Government. We look to continue the excellent rapport of our predecessors Inmet Mining and First Quantum with a renewal of the Troilus gold project in the spirit of co-operation and mutual benefit for all stakeholders.”