VANCOUVER, British Columbia, December 17, 2012 /PRNewswire/ --
Copper North Mining Corp. ("Copper North" or "the Company") (TSX.V: COL) is pleased to announce it has signed a Letter of Intent ("LOI") with the Little Salmon Carmacks First Nation ("LSCFN") with respect to consultation on the Carmacks Copper Project ("the Project") in Yukon, Canada.
The Project is located in the LSCFN Traditional Territory and the consultation will allow the First Nation to fully understand the Project and how it will interact with their traditional land uses.
President and Chief Executive Officer, Dr. Sally Eyre stated, "I am delighted that together, the Company and LSCFN have been able to establish a framework to continue consultation regarding the Project. Copper North and LSCFN each support and promote a co-operative and mutually respectful relationship concerning the environmental assessment process." Eyre further stated, "Following technical review of the Project, and providing that the concerns of the LSCFN have been reasonably resolved by the Company, we will work towards executing an Impact and Benefits Agreement ("IBA")."Chief Eric Fairclough of LSCFN added, "We are encouraged by the Company's willingness to ensure that our citizens know and understand the merits of this proposed project, and this LOI signifies our mutual commitment to informed, respectful decision making." The LOI:
- Establishes the framework for consultation with LSCFN prior to submission of the Project Proposal to YESAB for the Executive Committee Screening Assessment and throughout the Quartz Mining Licence and Water Use License regulatory processes;
- Commits Copper North to provide financial support to LSCFN so they may retain independent technical advice with respect to the assessment of the project and LSCFN may actively and productively participate in the assessment and regulatory processes;
- Defines the communications protocol and relationship between Copper North and LSCFN, ensuring regular communication and full exchange of technical information related to the Project; and,
- Provides for the negotiation of an IBA, providing that the concerns of LSCFN related to the Project have been reasonably resolved by Copper North.