Detour Gold Corporation (TSX: DGC) ("Detour Gold" or the
"Company") is pleased to announce that the Taykwa Tagamou Nation ("TTN")
and Detour Gold have signed a Memorandum of Understanding ("MOU") as an
interim measure to guide their relationship as they negotiate an Impact
and Benefit Agreement ("IBA") for the Detour Lake gold project in
northeastern Ontario.
"This MOU ensures that the future mine is built and operated with
respect for the environment and for the benefit of TTN members and
Detour Gold employees. The MOU outlines the steps going forward as we
negotiate an IBA for the benefit of TTN members, including employment
opportunities, while acknowledging the importance of the land to our
people. It is our intention to finalize an IBA in 2010," said Chief
Dwight Sutherland.
Gerald Panneton, President and CEO of Detour Gold, commented: "We are
working with First Nations to develop the mine in a manner that is
consistent with our collective commitment to environmental
sustainability and community development. This MOU will ensure benefits
to TTN, and together with different levels of government, we will
maximize the number of training, employment and business opportunities
for TTN members and people of northeastern Ontario."
The MOU guides how the parties will work together as the Detour Lake
project advances through the feasibility, environmental assessment and
permitting processes. It lays the ground work for both parties to
negotiate an IBA, which will outline TTN's involvement and support for
the project during the life of the mine.
For further information please contact:
Gerald Panneton
President and CEO
Detour Gold Corporation
Tel: (416) 304-0800 |
Peter Archibald
Community Advisor and Government Liaison
Taykwa Tagamou Nation
Tel: (705) 272-6897 |
Derek Teevan
VP Government and Aboriginal Affairs
Detour Gold Corporation
Tel: (416) 304-0800 |
Merv McLeod
Advisor
Taykwa Tagamou Nation
Tel: (519) 787-5119 |
Detour Gold Corporation, Royal Bank Plaza, North Tower, 200 Bay Street,
Suite 2040, Toronto, Ontario M5J 2J1; www.detourgold.com.
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 the
Detour Lake gold project, the benefits to TTN, the maximization of the
number of training, employment and business opportunities for TTN
members and people of northeastern Ontario and the intentions of Detour
Gold and the Taykwa Tagamou Nation to finalize an IBA in 2010.
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 2008 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; 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.
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