Final LTRA Signed for the Development of the Hardrock Project

Date : 11/20/2019 @ 5:24PM
Source : PR Newswire (Canada)
Stock : Premier Gold Mines Limited (PG)
Quote : 1.7  0.02 (1.19%) @ 9:59PM

Final LTRA Signed for the Development of the Hardrock Project

Premier Gold Mines (TSX:PG)
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THUNDER BAY, ON, Nov. 20, 2019 /CNW/ - PREMIER GOLD MINES LIMITED ("Premier", "the Company") (TSX:PG) (OTCPK: PIRGF) is pleased to announce that Greenstone Gold Mines Inc. ("GGM", the "Partnership"), a 50/50 joint venture between Premier and Centerra Gold Inc., has signed a Long-term Relationship Agreement ("LTRA") with Aroland First Nation, Animbiigoo Zaagi'igan Anishinaabek, and Ginoogaming First Nation, collectively the First Nations ("First Nations"), with respect to the development and operation of the Hardrock Project ("Project"), located in the Geraldton-Beardmore Greenstone Belt in Ontario, Canada.

Premier Gold Mines Limited (CNW Group/Premier Gold Mines Limited)

The signing of this agreement represents another important milestone as the Partnership continues to advance the project to an ultimate production decision. "GGM is committed to sustainable development and we are proud to celebrate this achievement with Aroland First Nation, Animbiigoo Zaagi'igan Anishinaabek, and Ginoogaming First Nation and grateful for their support" stated Eric Lamontagne, Greenstone Gold Mines General Manager.

The LTRA formalizes the Partnership's commitment towards protecting the environment and supporting the local First Nations social and cultural practices, and provides for environmental monitoring, employment, training, business and contracting opportunities. The agreement establishes increased certainty regarding GGM's and the First Nations' opportunity to mutually benefit from future mining opportunities in the region.

"This LTRA represents the successful completion of negotiations with local First Nations regarding the development of Hardrock", stated John Begeman, Executive Chairman of Premier. "With all local communities in support of this Project, Hardrock moves one step closer to becoming a reality."

"We have an agreement that will provide our communities with meaningful environmental participation, business opportunities, employment and training, and financial benefits. Our First Nations look forward to continuing our positive working relationship with GGM and playing an integral role in mineral development in our Territory to foster positive changes in our communities", said Chief Dorothy Towedo (Aroland First Nation), Chief Theresa Nelson (Animbiigoo Zaagi'igan Anishinaabek), and Chief Celia Echum (Ginoogaming First Nation).

Premier Gold Mines Limited is a gold-producer and respected exploration and development company with a high-quality pipeline of precious metal projects in proven, accessible and safe mining jurisdictions in Canada, the United States, and Mexico. Premier remains focused on creating a low-cost, mid-tier gold producer through its two producing gold mines; South Arturo and Mercedes, and through future mine development opportunities at Hardrock in Ontario (Greenstone Gold JV) where permitting and development initiatives are ongoing and McCoy-Cove in Nevada.

This Press Release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, including future operations, future work programs, capital expenditures, discovery and production of minerals, price of gold and currency exchange rates, mineral resource and mineral reserve estimates and corporate and technical objectives. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks inherent to the mining industry, adverse economic and market developments and the risks identified in Premier's annual information form under the heading "Risk Factors". There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Premier disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Premier Gold Mines Limited

Copyright 2019 Canada NewsWire

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