REGIONAL FIRST NATIONS - OSISKO MINING CORPORATION SIGN
HAMMOND REEF RESOURCE SHARING AGREEMENT
Montreal,
QC - December 10, 2010 - Osisko Mining
Corporation (�Osisko�, OSK � TSX; EWX �
Deutsche Boerse) is pleased to announce that the
Fort Frances Chiefs Secretariat, Lac Des Mille Lacs
First Nation and Osisko Hammond Reef Gold Ltd.
have signed a Resource Sharing Agreement on Friday, December 10, 2010,
creating a commitment by all parties to engage in active consultation and
collaboration, as part of Osisko�s continued
gold exploration activities at their Hammond Reef advanced gold project.
�This is an
important and significant next step in the continued relationship between
First Nations,� said Tammy Ryll, Executive
Director of the Fort Frances Chiefs Secretariat. �Osisko
has proactively engaged in a process of consultation that respects our
traditional territories and our Treaty rights, and we are pleased to
support their initiative and its continued development.�
Chief White
Cloud of the Lac des Mille Lacs First Nation
quoted one of her Elders in saying, �Today is a good day...�
�It is a historical day not only for our First Nation, but also for the
other participating First Nations, surrounding communities, and Osisko, in that we are entering into a mutually
respectful and beneficial agreement regarding Industry on our Traditional
Lands.�
Tony Marinaro, Economic Development Advisor for Pwi-Di-Goo-Zing Ne-Yaa-Zhing Advisory Services stated: "The area
First Nations are finally participating in the local economy. An
opportunity which has not been available to them until having the chance
to grow with the Hammond Reef Project. This signing of this agreement
will provide a bright future for not only the aboriginal people but for
all residents within the Rainy River District."
The agreement
includes a commitment by the signing parties to create several committees
to facilitate information gathering and maintaining open and transparent
lines of communication. Osisko further agrees
to provide employment and training opportunities to members of the
participating communities. The communities agree to create operating trusts
that will be able to receive training and educational funding from Osisko Hammond Reef, as well as accept shares of Osisko Mining Corporation as milestones in
exploration and development are reached.
Sean Roosen, President and Chief Executive Officer of Osisko commented: �The signing of this Resource
Sharing Agreement between the Fort Frances Chiefs Secretariat, Lac Des
Mille Lacs First Nation and Osisko
is the result of a respectful and considered consultation process between
the signatories. The Agreement reflects a spirit of partnership and
cooperation that began under the direction of Brett Resources, and
underscores Osisko�s commitment to continue
developing this strong relationship with the Fort Frances Chiefs
Secretariat and Lac Des Mille Lacs First
Nation. It is a first significant step that we believe will result
in a mutually beneficial development and operation at Hammond Reef, one
that will lead to lasting educational, employment, and
economic benefits to the community members.�
The communities
signing the resource sharing agreement are Lac Des Mille Lacs First Nation, and the seven participating First
Nations of the Chiefs Secretariat: Couchiching
First Nation, Lac La Croix First Nation, Mitaanjigamiing
First Nation, Naicatchewenin First Nation, Nigigoonsiminikaaning First Nation, Rainy River First
Nations, and Seine River First Nation.
The agreement
comes into effect once it has been ratified by the members of the signing
communities. Osisko Hammond Reef has
deposited its initial funding commitment in trust.
Osisko Mining Corporation is a development stage gold
mining company based in Montreal, Quebec, Canada. On August 13, 2010, the
Company completed its acquisition of Brett Resources Inc. , following a
friendly takeover offer announced on March 22, 2010 (Brett then became a
wholly-owned subsidiary of Osisko and was
renamed �Osisko Hammond Reef Gold Ltd.�). Osisko Hammond Reef Gold Ltd.�s
main asset is the Hammond Reef advanced gold project located near Atikokan, Ontario.
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