Probe Metals has signed a memorandum of understanding (MOU) with Mattagami and Flying Post First Nations concerning the junior explorer’s West Porcupine Project near Foleyet in northeastern Ontario.
The MOU establishes a framework for ongoing consultation with the two First Nations and provides the communities with an opportunity to participate in the project through employment, training and business development.
“Their contribution of local knowledge will be invaluable in helping us create a socially responsible exploration program that will benefit the communities, the project and the company as we move forward,” said company president-CEO David Palmer. “Probe is committed to sustainable development and this MOU represents the first step in building strong relationships with local stakeholders."
Under the terms of the MOU, the company will issue 25,000 common shares and 50,000 options to each of the two First Nations communities.
“The agreement will allow our First Nations to continue to grow with respect to education, employment, collaboration with Probe on environmental matters, and investment into our communities,” said Jason Batiste, executive director of the Wabun Tribal Council. “David and his team truly understand the importance of meaningful engagement with First Nation communities on whose homelands they are exploring. We look forward to working with Probe for years to come."
Probe has Ontario and Quebec gold properties in Val d'Or, West Timmins and Casa-Berardi.
It was formed as a result of the sale of Probe Mines Limited to Goldcorp last year. Goldcorp has a 14 per cent stake in the company.
