First Mining inks development agreement with First Nations
The agreement outlines all phases of the project including construction, operations and closure.
Cat Lake First Nation (CLFN) and Lac Seul First Nation (LSFN) have entered into a development agreement with First Mining Gold (TSX: FF) for the Springpole Gold project in northwestern Ontario. The stock of First Mining rose in early trading following the announcement. The agreement covers all stages of the project, from construction to operations and closure.
First Mining claims the agreement reflects their respect for the land, air, water, and culture of the First Nations, while providing key benefits to CLFN and LSFN. CEO Dan Wilton praised the extensive efforts made by both nations in understanding the project and reaching this collaborative agreement. The Springpole project, located about 140 km north of Sioux Lookout, is one of the largest undeveloped gold projects in the province, boasting an inferred mineral resource of 4.8 million ounces of gold and 28 million ounces of silver.
The agreement includes provisions for the First Nations' involvement in the project's environmental management and monitoring, as well as preferential training and employability measures for the communities. Both CLFN and LSFN expressed gratitude for the hard work, cooperation, and respect demonstrated throughout the process, emphasizing the significance of the milestone in accordance with their Anishinaabe laws and traditions.
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