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Coalspur Reaches Agreement With Last Remaining First Nation Intervener

VANCOUVER, British Columbia, Jan. 9, 2014 (GLOBE NEWSWIRE) -- Coalspur Mines Limited (ASX:CPL) (TSX:CPT) ("Coalspur" or "Company") announced today that it has reached an agreement with Alexis Nakota Sioux Nation ("Alexis") with regard to the development of the Vista project. Alexis, the sole remaining First Nation party granted intervener status by the Alberta Energy Regulator ("AER"), has now withdrawn as an intervener in relation to the Vista project, both in relation to the AER as well as to the Alberta Utilities Commission.

Highlights:

  • Coalspur and the Alexis Nakota Sioux Nation have reached an agreement in relation to the development of the Vista project
  • Alexis has withdrawn as intervener in relation to the regulatory approval of the Vista project, which paves the way for the Alberta Energy Regulator to render its decision regarding the approval of Vista
  • In anticipation of such decision, Coalspur continues to work with the various regulatory agencies relating to its applications in order to secure final approvals and permits for Vista

The agreement formalizes the relationship between Coalspur and Alexis and creates mutually beneficial opportunities for business and provides for Alexis community infrastructure and programs. The agreement also ensures Alexis participation in the reclamation and ongoing environmental monitoring of the Vista operation.

"We are pleased to have reached this agreement with Alexis and look forward to working with the Alexis community in the future," said Gill Winckler, Coalspur President and CEO. "We have been engaged in discussions with Alexis for over two years and now have a way forward that not only advances Vista but allows Alexis to participate in, and benefit from its success.

"Coalspur has engaged with numerous aboriginal communities for over two years and agreements have been reached with five other communities through this consultation process. We have now addressed the concerns of all the parties that were granted intervener status by the AER on October 3, 2013 and look forward to securing regulatory approval and being in a position to finalize our funding arrangements for the construction of Vista."

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