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Detour Gold Corporation (TSX:DGC - News; "Detour
Gold" or the "Company") is pleased to announce that the Metis Nation of Ontario ("MNO") and Detour Gold
have formally signed a Memorandum of Understanding ("MOU") to guide
their working relationship in regard to the development of the Detour Lake
gold mine in northeastern Ontario.
"Based on the positive
relationship-building efforts we have been making over the past year with
Detour Gold, we developed this MOU collaboratively to guide engagement and
consultation with the regional rights-bearing Metis
communities in the James Bay/Abitibi-Temiscamingue
traditional territories. I am pleased that the MNO was able to sign its first
MOU in the mineral sector with Detour Gold and I applaud Detour Gold's
pro-active efforts in working with the Metis
Nation," said MNO President Gary Lipinski.
Gerald Panneton,
President and CEO of Detour Gold, added: "Since the acquisition of the
Detour Lake project, we have been committed to working and consulting with
all local communities, including the First Nation and Metis
people. This initial agreement represents a milestone in our continuing
working relationship with the Metis community as we
plan to build upon it to provide opportunities to the regional Metis. The development of the Detour Lake mine will
provide positive economic and employment benefits to all the local
communities in the region."
The MOU details the way the local Metis have been and will be consulted regarding the
development of the project and if there is an impact on Metis
way of life, then the parties will work together to address them in an
accommodation agreement based on impacts.
MNO Regional Councilor Marcel Lafrance, Chair of the James Bay/Abitibi-Temiscamingue Consultation Committee, commented:
"Our community has worked hard with Detour Gold and we are very proud of
our positive relationship and successful negotiations."
About MNO
The MNO represents the Metis people and Metis
communities within Ontario through a province-wide governance structure at
the local, regional and provincial levels. For more information on the MNO as
well as its framework for government and companies to consult with Metis communities in Ontario visit www.metisnation.org.
About Detour Gold
Detour Gold is a Canadian gold
exploration and development company whose primary focus is to advance the
development of its flagship Detour Lake gold project located in northeastern
Ontario towards production. Detour Gold's shares trade on the Toronto Stock
Exchange under the trading symbol DGC.
Forward Looking Information
This press release contains certain
forward-looking information as defined in applicable securities laws
(referred to herein as "forward-looking statements"). Specifically,
this press release contains forward-looking statements regarding the
development of an IBA with MNO, the development of the Detour Lake project
and the positive economic and employment benefits that this project
development will provide to the local communities in the region.
Forward-looking statements involve known and unknown risks, uncertainties and
other factors which are beyond Detour Gold's ability to predict or control
and may cause Detour Gold's actual results, performance or achievements to be
materially different from any of its future results, performance or
achievements expressed or implied by forward-looking statements. These risks,
uncertainties and other factors include, but are not limited to, gold price
volatility, changes in debt and equity markets, the uncertainties involved in
interpreting geological data, increases in costs, environmental compliance
and changes in environmental legislation and regulation, interest rate and
exchange rate fluctuations, general economic conditions and other risks
involved in the gold exploration and development industry, as well as those
risk factors discussed in the section entitled "Description of Business
- Risk Factors" in Detour Gold's 2009 annual information form. Such
forward-looking statements are also based on a number of assumptions which
may prove to be incorrect, including, but not limited to, assumptions about
the following: the availability of financing for exploration and development
activities; the estimated timeline for the development of the Detour Lake
gold project; the supply and demand for, and the level and volatility of the
price of, gold; the accuracy of reserve and resource estimates and the
assumptions on which the reserve and resource estimates are based; the
receipt of necessary permits; market competition; ongoing relations with
employees and local communities; and general business and economic
conditions. Accordingly, readers should not place undue reliance on
forward-looking statements. Detour Gold undertakes no obligation to update
publicly or otherwise revise any forward-looking statements contained herein
whether as a result of new information or future events or otherwise, except
as may be required by law.
Contact:
Gerald Panneton
Detour Gold Corporation
President and CEO
(416) 304.0800
Laurie Gaborit
Detour Gold Corporation
Director Investor Relations
(416) 304.0581
Royal Bank Plaza, South Tower
Detour Gold Corporation
200 Bay Street, Suite 2200
Toronto, Ontario M5J 2J1 |