Joint Release - Kwanlin Dun First Nation and Gladiator Metals Corp.
Rhea-AI Summary
Kwanlin Dun First Nation (KDFN) and Gladiator Metals Corp. (GDTRF) have signed a Capacity Funding Agreement dated August 1, 2024, regarding the Whitehorse Copper Project. The agreement formalizes the engagement process between both parties and outlines Gladiator's financial support for KDFN's project review, consultation activities, and environmental assessment participation. While this represents a milestone in building a long-term relationship, it does not indicate KDFN's approval of Gladiator's exploration activities within their traditional territory. The agreement establishes processes to address potential effects of mining activities and develop mitigation strategies.
Positive
- Secured formal agreement with local First Nation for project development
- Established framework for environmental and consultation processes
- Secured capacity funding arrangement for project advancement
Negative
- No formal approval received from KDFN for exploration activities
- Environmental concerns raised by KDFN Chief regarding mining legislation
- Additional funding requirements for KDFN support and consultation
News Market Reaction – GDTRF
On the day this news was published, GDTRF gained 12.55%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Whitehorse, Yukon and Vancouver, British Columbia--(Newsfile Corp. - October 24, 2024) - Kwanlin Dun First Nation ("KDFN") and Gladiator Metals Corp. (TSXV: GLAD) (OTCQB: GDTRF) (FSE: ZX7) ("GM") are pleased to announce that they have entered into a Capacity Funding Agreement dated August 1, 2024 (the "Agreement"). GM is currently in the initial phase of permitting and undertaking ongoing exploration activities within KDFN's traditional territory in connection with GM's Whitehorse Copper Project.
The Agreement represents a positive milestone towards building a long-term relationship between KDFN and Gladiator, and they look forward to developing a sustainable relationship founded on mutual understanding, respect and open communication. This important Agreement outlines Gladiator's financial contribution to support KDFN's initial review of the Project, and participation in consultation activities, and any environmental assessment of the Project. The Agreement does not indicate KDFN's approval of Gladiator's exploration activities within KDFN's traditional territory.
The Agreement formalizes the process for KDFN and GM to meaningfully engage in respect of the Project and any other GM activities within KDFN's traditional territory. It sets out processes for GM and KDFN to engage regarding the potential effects of GM's activities and the potential strategies or measures, as appropriate, to avoid, mitigate and manage any such potential effects. GM has agreed to provide capacity funding to KDFN to support these processes.
KDFN Chief Sean Uyenets'echᶖa Smith commented: "We look forward to continuing to work with Gladiator Metals through KDFN's meaningful engagement in the ongoing permitting and exploration phase of the project. Outdated mining legislation needs to be updated to safeguard the environment before any large mining project moves forward."
Jason Bontempo, CEO of Gladiator Metals, commented: "Since the acquisition of the Whitehorse Copper Project, Gladiator Metals and the KDFN have established and grown a meaningful relationship via respectful consultation, participation, engagement, and transparency. I'm extremely pleased and proud that we are now formally engaged to outline the process of working together towards a Benefits, Cooperation and Foundation agreement for a long-term, mutually beneficial partnership during the exploration phase of the Whitehorse Copper Project in a manner respectful of the KDFN's rights and interests, including all environmental protections."
ON BEHALF OF THE BOARD
"Jason Bontempo"
Jason Bontempo
CEO
For further information contact:
| Dylan MacNeil, Communications Manager Kwanlin Dün First Nation Dylan.macneil@kdfn.net 867-332-3106 | Caitlin Cheadle, Investor Relations |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227650