Golden Band Resources - La Ronge Gold Project - Surface Lease Agreement signed
Mon Aug 24, 9:30 AM
ca.news.finance.yahoo.com
GBN: TSX Venture Exchange
SASKATOON and LA RONGE, SK, Aug. 24 /CNW/ - Golden Band Resources Inc. is pleased to announce that the La Ronge Gold Project Surface Lease Agreement 2009 has been signed with the Government of Saskatchewan. The province is represented in the Agreement by the Ministry of First Nations and Métis Relations and by the Ministry of Environment. Golden Band entered into the Agreement via its wholly owned subsidiary, Jolu Development Corporation (JDC). The Surface Lease includes the three parcels of land, totalling approximately 278 hectares, which encompass the Bingo deposit, the Komis and EP deposits, and the Jolu mill site. The initial term of the surface lease is until May 31, 2030. In the Surface Lease Agreement, JDC and the Province acknowledge that it does not abrogate or derogate from any existing rights of Aboriginal peoples of northern Saskatchewan. The Surface Lease addresses a range of issues, including land tenure, environmental protection measures, occupational health and safety provisions, and socioeconomic benefits for northerners.
"Golden Band is extremely pleased and gratified to have secured this agreement", stated Rodney Orr, Company President and CEO. Golden Band is delighted with the depth and extent of cooperation provided by the Provincial departments involved, not only in the conclusion of the Surface Lease Agreement, but also in the various regulatory and permitting requirements that we have been engaged in over the past two years. This major milestone in our plans for the La Ronge Gold Project demonstrates our positive relationship with the Province and with our neighbours, including the Lac La Ronge Indian Band, on whose traditional lands we are working. This cooperative approach is a continuation of the Memorandum of Understanding as was signed with the Band in 2007, and reinforces our strong relationship based on the advancement of exploration and mining by Golden Band in ways that are mutually beneficial to both Golden Band and the Band. We are most fortunate to have the support of the Lac La Ronge Indian Band for our project."
"We are very pleased that Golden Band is moving ahead together with First Nations, Métis and Northern municipalities," said Bill Hutchinson Minister of First Nations and Métis Relations and Minister responsible for Northern Affairs. "This partnership will develop an important mineral resource and provide opportunities for residents of Northern Saskatchewan to participate. The provincial government will ensure that mining continues with an emphasis on local economic development benefits and environmental stewardship."
Chief Tammy Cook-Searson, Chief of the Lac La Ronge Indian Band, said that "Today is a very important day for our future. The Surface Lease Agreement between the Province and Golden Band Resources is an important step to support positive relationships between the Lac La Ronge Indian Band, the Province and Industry. While our traditional territories encompass a large part of the province, the gold belt is at the center. Our band members have hunted, fished and trapped that area for centuries as they do today. We are confident that these developments will be a wonderful addition that will compliment these activities. We are committed to working with Golden Band Resources and the Province of Saskatchewan to ensure that our membership and the north benefit from a safe, environmentally responsible, and profitable project."
Kitsaki Management L.P. and several of its related entities have been involved in the Project since 2004. In 2008, Kitsaki Procon Joint Venture completed the underground exploration project on the Company's Bingo deposit and the preliminary Jolu mill refurbishment work. Kitsaki will be involved in the Company's operations through their continued participation in the Kitsaki Procon JV. Negotiations are in process for an expanded scope of work under a General Services Agreement, and other agreements, whereby Kitsaki Procon JV will act as the general contractor for all underground and open pit mining, labour services in the Jolu mill's operations, site services and ore haulage. Kitsaki Management and associated businesses will provide support services for environmental monitoring, camp accommodation, and catering.
With the conclusion of a surface lease agreement providing access to Crown land, Golden Band Resources commits to furthering employment, training, and business opportunities for Northerners. During operations, the project will initially employ 75 to 100 people.
In addition to securing the surface lease, Golden Band Resources is also pleased to report that the provincial regulatory approval process for the site preparation and construction activities at the Bingo, Komis, and Jolu sites is proceeding very well. Approvals have already been issued by the Saskatchewan Ministry of Environment (MoE) for tree and vegetation clearing at each of the sites, the access roads between the sites and Highway 102 and along the powerline route to the Jolu site. The MoE has also issued a variety of approvals for the construction of facilities at the sites, including an approval to construct the above ground tailings management facility at Jolu and to refurbish the Jolu mill.
About Golden Band
Golden Band Resources, already Saskatchewan's leading gold explorer, is now poised to also become a gold producer. Golden Band is a well-financed, Saskatchewan-based, publicly listed company (GBN: TSXV) whose focus is the long-term, systematic exploration and development of its 100%-owned La Ronge Gold Belt properties. Since 1994, Golden Band has assembled through staking and strategic acquisition a land package of more than 750 km(2), including 12 known gold deposits, five former producing mines, and a licensed gold mill. Golden Band's key value drivers are the methodical and systematic targeting of primary to advanced-stage exploration while progressing along a parallel path to becoming a sustainable gold producer. The Company is aggressively pursuing its near-term goal of commercial production of its Bingo, Komis, and EP deposits with processing at the 100%-owned Jolu mill. The Company's objective, supported by a positive Pre-Feasibility Study completed in January 2009, is the annual production of at least 75,000 ounces of gold over a ten-year project life. Other longer-term objectives include the continuation of its highly successful exploration and acquisition strategy.
About the Lac La Ronge Indian Band
The Lac La Ronge Indian Band is the largest First Nation in Saskatchewan, and one of the 10 largest in Canada, with a 2007 population of 8,303 Woodland Cree. The band has 6 separate communities and 18 reserves which extend from the rich farmlands in central Saskatchewan to the north through the boreal forest to the Churchill River and beyond. Central administration is located in La Ronge on the edge of the Pre-Cambrian Shield. The La Ronge Gold Belt falls within the Band's traditional lands.
About Kitsaki Management
Kitsaki Management Limited Partnership performs the for-profit economic development activities for the Lac La Ronge Indian Band. In its 28-year history, Kitsaki has successfully created and currently manages a portfolio of active business investments that serve the mining industry. These investments include Athabasca Catering, Canada North Environmental Services, Kitsaki Procon, and Northern Resource Trucking. Kitsaki also owns or has an investment in the La Ronge Hotel and Suites, Northern Lights Foods, First Nations Insurance Services, Asiniy Gravel Crushing and the Dakota Dunes Golf Course.
On behalf of the Board of Directors of Golden Band Resources Inc.,
"Rodney G. Orr"
Rodney G. Orr, P.Geo.,
President & CEO
On behalf of The Lac La Ronge Indian Band,
"Chief Tammy Cook-Searson"
Chief Tammy Cook-Searson
Lac La Ronge Indian Band
306.425.2813
tcooksearson@llrib.ca
On behalf of Kitsaki Management LP,
"Russell Roberts"
Russell Roberts, CEO
Kitsaki Management LP
306.425.2288
russell.roberts@kitsaki.com
All of Golden Band's exploration programs and pertinent disclosure of a scientific nature are prepared and/or designed and carried out under the supervision of Frank Hrdy, P.Geo., Golden Band's VP Exploration, who serves as the qualified person (QP) under the definitions of National Instrument 43-101. All of Golden Band's development-related programs and pertinent disclosure of a development nature are prepared and/or designed and carried out under the supervision of Gary Haywood, P.Eng., Golden Band's VP of Operations and COO, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.
Cautionary Statements on Forward-Looking Information: The statements made in this News Release may contain certain forward-looking information. Actual results may differ materially from those currently anticipated in such statements. Certain risk factors may also materially affect the actual results achieved by the Company. Potential and current shareholders are cautioned not to place undue reliance on forward-looking information. The Company disclaims any intent and undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events, or other such factors that may affect this information, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Contacts
Golden Band Resources Inc.
Rodney Orr
President & CEO
Phone: (306) 955-0787 x7123
Fax: (306) 955-0788
Email: rodney.orr@goldenbandresources.com
Wani Capital Corp.: Raju Wani
(403) 240-0555
Email: info@goldenbandresources.com
www.goldenbandresources.com |
