Champagne and Aishihik First Nations and Strategic Metals Ltd. Announce Exploration Agreement

Champagne and Aishihik First Nations (“CAFN”) and Strategic Metals Ltd. (TSX-V: SMD) (“Strategic”) are pleased to announce the signing of an Exploration Agreement.
This landmark agreement provides a framework for consultation pertaining to all exploration activities undertaken by Strategic within the CAFN Traditional Territory, excluding Category A and B Lands as defined in the Umbrella Final Agreement.  The agreement is particularly noteworthy because consultation is expected to begin at the earliest stages of exploration and continue throughout the duration of the project.
“The Champagne and Aishihik First Nations government is pleased to have this agreement in place with Strategic Metals,” said Dän natthe ada Kaaxnox (Chief Steve Smith).  “We believe it is critical that CAFN is involved as a partner in mineral exploration projects in order to ensure the wise use and management of lands and water in our Traditional Territory, and to support the development of our communities and our economy.  And it is important to ensure CAFN citizens benefit any time mineral exploration takes place on our lands.”
“Strategic has undertaken to engage with CAFN as soon as claims are acquired in order to develop cooperative and respectful relationships, identify local business and employment opportunities, and build support for mineral exploration and development.  The ongoing consultation should make Strategic more aware of CAFN concerns and give CAFN a better understanding of preferred exploration techniques and their alternatives,” states Douglas Eaton, President and CEO of Strategic.  “This Exploration Agreement provides a clear framework for early stage consultation, and a path forward to develop a more comprehensive cooperation and benefits agreement, should a project move from exploration to economic evaluation.”
Other key objectives of the Agreement include:

• establishing mechanisms under which environmental monitoring of exploration activities is carried out;

• financial benefits of $100,000 paid to CAFN upon signing and an amount equal to 2% of annual exploration expenditures undertaken within CAFN Traditional Territory;

• establishment of an Advisory Committee in order to provide support for exploration activities and to resolve issues related to implementation of the Agreement; and

• setting a framework for long term consultation and if exploration is successful, the negotiation of a more comprehensive project specific agreement.

Strategic currently holds 8 projects within the CAFN Traditional Territories including the Hopper copper/gold porphyry and skarn project, and the Meloy copper/gold/silver porphyry project.
 

 
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This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

Source: www.fscwire.com