Northern Gold Mining has entered into an exploration agreement with the Wahgoshig First Nation community in northeastern Ontario.
The company is working on its Golden Bear Project in the Larder Lake mining district of northeastern Ontario.
“We will continue working closely with Wahgoshig and look forward to receiving their input as we explore the opportunities within the Golden Bear Project and move forward in a socially responsible manner for the benefit of all stakeholders,” said company president and CEO Martin Shefsky in a statement.
Wahgoshig Chief David Babin praised the company for recognizing and acknowledging the band's constitutional rights, and its future commitments to training, communication, community funding and business development.
“We will continue to participate in the exploration and development of the Golden Bear Project and believe that Wahgoshig stands to benefit from the business and employment opportunities that this project brings to our community."
Northern Gold has also agreed to negotiate an Impact Benefit Agreement with Wahgoshig should construction or mining operations commence on any of the company's properties located on Wahgoshig traditional territory.
The company has issued to Wahgoshig 200,000 common shares and 200,000 Share purchase warrants.
The company said the shares and warrants will allow Wahgoshig to directly participate in any potential successes of Northern Gold.