First Class Metals Signs Exploration Agreement With First Nation People

28 November 2023 09:26

First Class Metals PLC (LSE:FCM) progresses in its exploration endeavours on its Canadian tenements, reaching an exploration agreement with the Netmizaaggamig Nishnaabeg First Nation community which reside over the North Hemlo, Esa and Sugar Cube Projects.

The Agreement

The newly signed exploration agreement allows First Class Metals to continue to carry out its mineral exploration with the support of the Netmizaaggamig Nishnaabeg Community.

The agreement promotes unity and a mutually beneficial and respectful relationship between the two groups whilst recognising and respecting the Aboriginal and Treaty rights and the interests of the Community.

It enables for exploration of the North Hemlo, Esa and Sugar Cube Properties which are located within the Traditional Territories of the Netmizaaggamig Nishnaabeg First Nation peoples.

Comments on the Exploration Agreement

A spokesperson for the Netmizaaggamig Nishnaabeg First Nations people commented on the agreement.

NNFN has a long history of productive engagement with the mining industry and supports mining activity in areas that are mutually beneficial to the First Nation and to its industry partners,” the spokesperson said.

“We commend the importance First Class Metals places on engagement with our community, and its commitment to protect our lands and waters. FCM’s pro-active engagement with NNFN is a model for other companies seeking to work in our territory.”

First Class Metals CEO Marc J. Sale added:

“I am extremely pleased that the efforts to establish a transparent honest relationship with Netmizaaggamig Nishnaabeg First Nation and their representatives has culminated in the signing of this agreement and I look forward to working with the Community as we progress First Class’s exploration areas.”

“Now this EA has been granted we intend to imminently start a stripping program on the Esa Property, with the intention of bringing it to a true ‘drill ready status.”

FCM’s London Stock Exchange-listed share price has risen 1.58% and is currently trading at 6.45 pence (9.21am UTC+ 8 hours).

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