Avalon Enters Into Negotiation Agreement With the Deninu K’ue First Nation

Avalon Rare Metals Inc. (TSX:AVL) announces that, following the signing of the Negotiation Agreement with the Yellowknives Dene First Nation, Avalon has now entered into a similar agreement with the Deninu K’ue First Nation (“Deninu K’ue”) regarding the development of the Nechalacho rare earth elements deposit Thor Lake, NWT.

The press release is quoted as saying:

After several years of regular consultation, Avalon and Deninu K’ue have established a co-operative and respectful relationship for responsible mineral development in Deninu K’ue’s traditional territory. The Company and Deninu K’ue intend to continue and broaden this relationship through these negotiations. Accommodation Agreements typically cover a number of issues such as environmental protection, business and employment opportunities, with regard to the Project. Avalon and Deninu K’ue have agreed to commence negotiations on the Accommodation Agreement as soon as possible, with the objective of concluding this agreement in 2011.

click here to access the entire press release