Val-d'Or Mining signs first nations exploration deal

Executive Summary

• Val-d'Or Mining Corp. signed a milestone exploration agreement with the Matachewan First Nation and the Mattagami First Nation (Wabun Tribal Council) covering properties in Northeastern Ontario's Abitibi greenstone belt.
• The agreement establishes terms for consultation, impact mitigation, and financial benefits, including contracts, jobs, and training opportunities for the communities.
• As part of the agreement, the company will issue 50,000 common shares and grant incentive stock options for 50,000 shares to each First Nation, subject to TSX Venture Exchange approval.

Key Details

• Parties Involved: Val-d'Or Mining Corp., Cleghorn Minerals Ltd., and International Prospect Ventures Ltd. (collectively the "Zed Zed Group") signed with the Matachewan First Nation and the Mattagami First Nation.
• Agreement Scope: Covers operational areas of interest within the First Nations' traditional lands in the Abitibi greenstone belt.
• Equity Consideration:
  • Issuance of 50,000 common shares to each of the Matachewan First Nation and the Mattagami First Nation.
  • Grant of incentive stock options to acquire 50,000 shares to each First Nation.
  • Exercise price for options: $0.085 per share.
  • Option term: Five years from issuance.
  • Condition: Subject to approval of the TSX Venture Exchange.
• Community Benefits: The agreement provides for financial benefits including contracts, jobs, and training opportunities during the exploration phase for current and future work programs.
• Duration: The agreement remains in effect until an Impact Benefit Agreement (IBA) is concluded.
• Drilling Support: The Matachewan First Nation provided a support letter to the Ontario Ministry of Mines endorsing the maiden drill program on the company's Baden prospect, prior to permit issuance.
• Ceremony: An official signing ceremony is planned at the Wabun Tribal Council offices in Timmins, Ont.

Notable Quotes

• "I'm deeply honoured to be part of this historic milestone, which stands as a powerful testament to what can be achieved when we unite around a shared vision. I extend my gratitude to Chief Batisse of the Matachewan First Nation and Chief Constant of the Mattagami First Nation, along with their respective councils, the negotiating committee led by their mineral development advisers, the Wabun Tribal Council and the local community members. Your unwavering commitment, thoughtful collaboration and dedication to fostering this agreement, grounded in mutual respect and attentive listening to the voices of elders and individual community members, have been truly inspiring." — Michael Rosatelli, Senior Geological Consultant and Vice-President Exploration, Val-d'Or Mining