Hope Bay IIBA signing
KITIKMEOT INUIT ASSOCIATION SIGNS DEFINITIVE AGREEMENT WITH TMAC RESOURCES INC. FOR LONG TERM BENEFIT AND TENURE CERTAINTY AT THE HOPE BAY PROJECT
Cambridge Bay, Nunavut, March 30, 2015 -
On behalf of the Kitikmeot Inuit Association (KIA) Mr. Charlie Evalik, President of KIA, is pleased to announce the signing of a comprehensive Definitive Agreement (the “Agreement”) with TMAC Resources Inc. (TMAC) for the development of the Hope Bay Greenstone Belt which includes the Doris North Gold Mine, and the Boston and Madrid advanced exploration projects, among other exploration and development targets. The Agreement is designed to provide long term benefit certainty to Inuit beneficiaries and long term development and tenure certainty to TMAC. This Agreement concludes an 18 month negotiation process with TMAC. Negotiations were previously interrupted by Newmont Mining Corporations’ decision to sell the Hope Bay Project.