NorZinc Signs Environmental Agreement with Key First Nation Partners in Yellowknife
Vancouver, British Columbia - August 10, 2022 (Investorideas.com Newswire) NorZinc Ltd. (TSX: NZC; OTCQB: NORZF) (the "Company" or "NorZinc") is pleased to announce the signing of an Environmental Agreement (the "EA" or "Agreement") with the Naha Dehe Dene Band ("NDDB") and Łı́ı́dlı̨ı̨ Kų́ę́ First Nation("LKFN") Band for the development and operation of the Prairie Creek Project ("Prairie Creek" of the "Project") and the All-Season Access Road ("ASR") on these local communities' Traditional Territory.
This Agreement builds on the Impact Benefit Agreements ("IBAs") the Company currently has with both NDDB and LKFN for the mine, the NDDB Traditional Land Use Agreement ("TLUA"), and the LKFN Road Benefit Agreement ("RBA") for the ASR and establishes the framework for a long-term, mutually beneficial, and cooperative working partnership. The EA formalizes the Company's commitment towards protecting the environment and sacred, traditional lands upon which the Project will be developed while providing for environmental monitoring, review and oversights through the life of the Project. This Agreement combined with the IBAs provides assurance the Prairie Creek Project has strong local First Nations support as the Company continues advancing the Project.
The Naha Dehe Dene Band ("NDDB") of Nahanni Butte is the nearest community to the Prairie Creek Mine, located approximately 90 kilometres southeast of the mine site. The mine site and route of the ASR are within NDDB's Traditional Territory. The Łı́ı́dlı̨ı̨ Kų́ę́ First Nation("LKFN") of Fort Simpson are the largest community within the Dehcho Region, Fort Simpson is located about 185 kilometres east of the mine site. The ASR route also crosses the LKFN Traditional Territory.
"We are very pleased to have entered into this agreement with NDDB and LFKN, which reflects our commitment to respect and prioritize the environmental well-being of their traditional and sacred lands that will be home to one of Canada's next, largest and highest grade critical mineral zinc, silver and lead mine", said Rohan Hazelton, President & CEO, NorZinc. "The recognition of the traditional lands and rights of First Nations is paramount to the success of Prairie Creek, and we look forward to advancing the Project alongside our partners."
"The Prairie Creek Mine and the ASR are located entirely within NDDB's Traditional Territory, directly adjacent to the community of Nahanni Butte. We have the greatest potential for both impacts and benefits from its development. The signing of the Environmental Assessment today is another step towards developing the Mine and ASR responsibly and ensuring that the benefits to NDDB far exceed the impacts on our community," stated Chief Steve Vital, of the Naha Dehe Dene Band.
Chief Antoine of Łı́ı́dlı̨ı̨ Kų́ę́ First Nation commented, "It's important that First Nations play a key role in environmental decision making related to resource development projects occurring in our territories. As signatories of Treaty 11, we never surrendered our land. The Environmental Agreement between Łı́ı́dlı̨ı̨ Kų́ę́ First Nation, Naha Dehe Dene Band and NorZinc is an important agreement that will ensure our Dene nations retain a strong role in environmental oversight and protection for the Mine and Road. Through an Environmental Committee and our Dene Monitors, we look forward to continuing the important work of being stewards and guardians of our land."
The signing of this agreement comes at a critical time as the entire executive team and board of directors of the Company are currently in the Northwest Territories visiting both Yellowknife and the Project. During this visit, the NorZinc representatives will be conducting key meetings with local community member representatives and government representatives in Yellowknife, building on relations with the local communities and governing bodies. The group will also be conducting a site visit to Prairie Creek for an update on exploration and development activities currently underway at site.
The Prairie Creek Project will have a significant economic impact on the local communities as well as the Northwest Territories and federal government bringing in total revenue over its lifetime of $8 Billion with direct territorial and federal government benefits of over $1 Billion. Benefits of the Project to the local First Nations include $5M a year in direct transfer benefits, $100M over the life of the mine, $330M in business contracts, and $65M in guaranteed employment. There is expected to be 600 jobs over 3 years during construction and more than 350 jobs during the operating period of 20 years. These benefits follow the Call to Action 92 of the Truth and Reconciliation Report for Indigenous Governments to have access to jobs, training, and education opportunities in the corporate sector and to be actively involved in the decision making for use of traditional territory. No other developing mining project in the Northwest Territories is as advanced as the Mine in this region that will bring these benefits.
NorZinc is a TSX-listed mine development Company trading under the symbol "NZC" and on the OTCQB under the symbol "NORZF". NorZinc is focused on developing its 100%-owned high-grade zinc-silver-lead Prairie Creek Project, located in the Northwest Territories.
Rohan Hazelton, President & CEO
Tel: (604) 688-2001 or Toll-free:1-866-688-2001
Cautionary Statement - Forward-Looking Information
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the anticipated benefits of the Prairie Creek Project and the anticipated development and operation of the Project, including the anticipated timing thereof.
These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: the risk that the Prairie Creek Project will not deliver benefits consistent with management's expectations, the risk that the Project may not be developed within management's anticipated timelines or at all, as well as all of the risk factors described in the Company's most recent Annual Information Form and Management's Discussion & Analysis available for review on the Company's profile at www.sedar.com.
In making the forward-looking statements in this news release, the Company has applied several material assumptions which the Company believes to be reasonable, including without limitation, that anticipated benefits of the Prairie Creek Project will be consistent with management's expectations, and that the development of the Project will occur within the timelines currently anticipated by management.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information, except in accordance with applicable securities laws. We seek safe harbor.
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com