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Company, First Nations sign deal

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Rainy River Resources Ltd. has signed a Participation Agreement (PA) with area First Nations with respect to the development and operation of its Rainy River Gold Project in Rainy River District.

Inked with Naicatchewenin First Nation, Rainy River First Nations, Mitaanjigamiing First Nation, Couchiching First Nation, Lac La Croix First Nation, and Seine River First Nation, the agreement is the culmination of negotiations initiated by the parties.

The PA was developed together with the First Nations, each of which is a member of the Fort Frances Chiefs Secretariat, in order to define their participation in the development and operation of the project.

The agreement identifies key project milestones and ways to work together with the First Nations as the company initiates mine environmental assessment and permitting in 2012.

It sets out a schedule of benefits the First Nations’ communities will receive, including employment and business opportunities, funding to support skills development, occupational training and education, as well as equity participation.

The PA reflects the company’s continued commitment to environmental stewardship, respect for First Nations’ traditional culture and values, and the need for economic sustainability.

“We are very pleased to have reached this significant milestone with the Rainy River Area First Nations,” said Rainy River Resources president and CEO Raymond Threlkeld.

“The agreement sets out a collaborative relationship at a key time for the Rainy River Gold Project as we begin the process of mine environmental assessment and permitting.

“We look forward to the continued participation of the First Nations in what we expect will become a key economic driver for the local communities between the towns of Fort Frances and Rainy River,” he added.

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