Kapuskasing Gold has inked a memorandum of understanding with Flying Post and Mattagami First Nations on its recently acquired West Keefer property, near Timmins.
The agreement lays the groundwork to identify opportunities for businesses and citizens of the communities to participate in exploration activities.
In addition, the company has granted 50,000 common shares and 50,000 share purchase warrants of the company to Mattagami. Each warrant will be exercisable into one share for a period of five years.
Flying Post First Nation is not receiving shares and warrants as it received 50,000 shares and 50,000 warrants for an earlier agreement for the Borden North, Borden South, Golden Route, Rollo, Schewabik, and West Chapleau Projects.
Kapuskasing Gold has seven gold properties in northeastern Ontario strung out between Wawa and Timmins.
