Pretivm Resources Inc. (TSX:PVG) (NYSE:PVG) and the Nisga’a Nation are pleased to announce that they have entered into a comprehensive Cooperation and Benefits Agreement in respect of Pretivm’s Brucejack Project located in northwest British Columbia. The Agreement establishes a long-term, mutually-beneficial relationship between Pretivm and the Nisga’a Nation, who have rights and interests as defined by the Nisga’a Final Agreement in the Nass Area where portions of the Project are located.
Under the terms of the Agreement, the Nisga’a Nation will provide ongoing support for the development and operation of Brucejack as a safe, environmentally sound mine with participation in its economic benefits, and Pretivm will honour commitments to the Nisga’a Nation regarding jobs and contracting opportunities at the Project, education and training and financial payments.
“Nisga’a Nation strives for sustainable prosperity and self-reliance,” stated President H. Mitchell Stevens, “and the benefits from the Brucejack project will make an important contribution towards our improved quality of life. Our Treaty brings certainty to this type of development and we look forward to working with Pretivm.”
“We are pleased that a strong relationship with the Nisga’a Nation has grown out of our work with them over the last four years,” said Pretivm President and CEO Robert Quartermain. “We look forward to their collaboration as we advance Brucejack to production.”
The Agreement provides for communication, collaboration and cooperation between Pretivm and the Nisga’a Nation. Highlights include:
— Nisga’a Nation collaboration with Pretivm in support of the completion
of the operational permitting process for the Project and subsequent
— Financial payments by Pretivm to the Nisga’a Nation upon the achievement
of certain Project milestones, and annual production payments based on a
percentage of net profits;
— Pretivm’s commitment to education and training of Nisga’a citizens so
that they will be better able to take advantage of the economic benefits
the Project offers;
— A framework for the Nisga’a Nation and Pretivm to work together to
achieve employment targets and to ensure Nisga’a businesses will have
preferred access to contracting opportunities;
— Mutual cooperation on responding to social impacts which Nisga’a
Villages may experience as a result of the Project.
Pretivm is advancing its 100%-owned Brucejack Project in northern British Columbia to production as a high-grade gold underground mine. Based on the results of the June 2014 Feasibility Study, Brucejack is expected to produce an average of 504,000 ounces of gold a year over the first 8 years and 404,000 ounces of gold a year over the 18-year mine life. Brucejack’s Valley of the Kings hosts Proven and Probable reserves totalling 6.9 million ounces of gold (13.6 million tonnes grading 15.7 grams of gold per tonne). Commercial production at Brucejack is targeted for 2017.
About Nisga’a Nation
The Nisga’a Nation of northwestern British Columbia is represented by Nisga’a Lisims Government (NLG) a modern, forward-thinking administration based on traditional culture and values of approximately 7,000 Nisga’a citizens. The Nisga’a Final Agreement is British Columbia’s first modern treaty that came into effect on May 11, 2000, marking the end of a 113-year journey. It is the first treaty in British Columbia to provide constitutional certainty in respect of an Aboriginal people’s Section 35 right to self-government. It recognizes the Nisga’a Nation’s ownership of approximately 2,000 sq. km of Nisga’a Lands and opens the door for joint economic initiatives in the development of the Nisga’a Nation’s natural resources.
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