Planned Acquisition Intended to Protect and Conserve Lands Under Tahltan Stewardship Initiative
Today, Newmont Corporation (NYSE:NEM, TSX:NGT) announced that it has entered into a definitive agreement with Skeena Resources Limited to acquire certain properties located in Tahltan Territory in northwestern British Columbia conditional upon the successful completion of Skeena's proposed acquisition of QuestEx Gold & Copper Ltd. Newmont will work in collaboration with the Tahltan Nation, the Iskut community and the British Columbia government to make available portions of the acquired properties to support the land use planning objectives of the Tahltan Nation and the Iskut community.
"We are committed to developing a world class mining jurisdiction in the region which includes sustainable resource development while protecting and conserving lands under the Tahltan Stewardship Initiative that are important to the Tahltan Nation and the Iskut community," said Newmont President and CEO Tom Palmer. "We are acquiring the land in an effort to address concerns raised by the Tahltan Nation. The mining claims around Iskut are not being purchased for development or their mineral potential."
Newmont supports the Tahltan Stewardship Initiative designed to preserve key areas around the community of Iskut and the work of the Tahltan and British Columbia to achieve reconciliation outcomes. Newmont believes there is shared value in the creative solutions this acquisition will enable the parties to advance. The Company looks forward to making the North ROK and Coyote properties available for the Tahltan Stewardship Initiative as part of a continual effort to build a respectful and mutually beneficial relationship with the Tahltan Nation and Iskut community.
In 2021, Newmont acquired the Saddle North deposit through the acquisition of GT Gold Corporation. At the time of acquisition, the Company recognized and continues to acknowledge the need for Tahltan consent to advance the project.
Skeena Resources Limited has entered into a definitive agreement to acquire all of the issued and outstanding shares of QuestEx Gold & Copper Ltd. Following the completion of this proposed transaction by way of a plan of arrangement, which is subject to QuestEx shareholder approval, regulatory approvals (including TSXV and TSX), and other customary closing conditions, Skeena will sell to Newmont the northern properties of Castle, Coyote, Heart Peaks, Moat and North ROK.
Newmont is the world's leading gold company and a producer of copper, silver, zinc and lead. The Company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, visit our annual Sustainability Report at www.newmont.com .
Cautionary Statement: This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. Forward-looking statements often contain words such as "anticipate," "intend," "plan," "will," "would," or "expect." Forward-looking statements in this news release include expectations regarding the closing of the purchase and sale agreements, which remains conditional upon the satisfaction of certain conditions beyond Newmont's control, expectations regarding future of the Castle, Coyote, Heart Peaks, Moat and North ROK properties, expectations around future land use planning with Tahltan and the government, and expectations of value delivery in the future. Expectations of future events are based upon certain assumptions, which may prove to be incorrect, and remain subject to risks, which could cause actual results to differ materially. For a discussion of risks and other factors that might impact future looking statements, see the Company's Annual Report on Form 10-K for the year ended December 31, 2021 filed with the U.S. Securities and Exchange Commission (the "SEC"), under the heading "Risk Factors", available on the SEC website or www.newmont.com . The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," including, without limitation, outlook, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued "forward-looking statement" constitutes a reaffirmation of that statement.
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