Discovery Silver, TTN sign resource development deal

Executive Summary

• Discovery Silver Corp. has entered into a Resource Development Agreement (RDA) with the Taykwa Tagamou Nation (TTN) to establish a framework for consultation, cooperation, and mutual benefit regarding mining activities within TTN's traditional territory.
• As part of this agreement, TTN will file a notice of discontinuance in the Ontario Superior Court of Justice, effectively ending a legal action previously brought by TTN against Discovery Silver.
• The agreement aims to ensure TTN members share in economic benefits and participate in environmental stewardship, while providing Discovery with a basis for support for its operations in the region.

Key Details

• Agreement Type: Resource Development Agreement (RDA).
• Parties: Discovery Silver Corp. and Taykwa Tagamou Nation (TTN).
• Purpose: To establish a framework for continuing consultation and communication, ensuring a cooperative, mutually beneficial, and respectful relationship.
• Operational Impact: Provides a basis for support of Discovery's mining and mineral processing activities within TTN's traditional territory.
• Legal Resolution: TTN will file a notice of discontinuance in the Ontario Superior Court of Justice regarding an action where Discovery was named as a defendant.
• Economic & Social Terms: The agreement ensures TTN members share in the economic benefits of business operations and participate in efforts to respect land and waters, minimize negative impacts, and support local community prosperity.

Notable Quotes

• Tony Makuch, CEO: "We are honoured to have entered into this agreement with TTN and wish to thank the band council and particularly Chief Bruce Archibald for their trust in us and commitment to working together. This agreement provides the framework for responsible development within their traditional territory, ensuring that the members of TTN share in the economic benefits of our business operations and participate in our efforts to respect the land and waters, minimizing negative impacts, and supporting the prosperity of other local communities."