VR Resources Signs MOU with Lac Des Milles Lacs First Nation, Northwestern Ontario
Rhea-AI Summary
VR Resources has signed a Memorandum of Understanding (MOU) with Lac des Mille Lacs First Nation (LDMLFN) regarding their recently acquired Empire, Silverback and Rambler projects near Upsala, Northern Ontario. The agreement establishes a framework for collaborative work and mutual benefits, focusing on social, ecological, cultural, and economic well-being. The MOU includes provisions for benefit sharing, with commitments to create local business opportunities, employment, and training programs for LDMLFN community members during VR's exploration activities.
Positive
- Secured local community support for exploration projects through formal agreement
- Potential for cost optimization through local workforce and business partnerships
Negative
- None.
VANCOUVER, British Columbia, Dec. 09, 2024 (GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V: VRR; OTC:VRRCF; FSE: 5VR), (the “Company” or “VR”), is pleased to announce the signing of a memorandum of understanding (the “MOU”) with Lac des Mille Lacs First Nation (“LDMLFN”) with respect to VR’s recently acquired Empire, Silverback and Rambler projects (the “Projects”) in Northern Ontario, near the town of Upsala.
From VR’s CEO, Justin Daley, “this MOU reflects a mutual desire for VR and LDMLFN to work together in a collaborative, mutually beneficial, and respectful manner with the shared goals of social, ecological, cultural and economic well-being. The MOU also establishes various areas of benefit sharing, including a commitment by VR and LDMLFN to jointly identify opportunities for LDMLFN community members to participate in VR’s exploration programs through local business, employment and training opportunities where possible.”
VR looks forward to working in partnership with LDMLFN throughout its exploration and appreciates the community’s support to our projects moving forward.
About the Projects
The Empire, Silverback and Rambler projects are located within the traditional territories of the Lac des Milles Lacs First Nation and represent an expansion of the Company’s long standing KSZ strategy in the James Bay Basin of Ontario, 600 km away, on similarly long-lived, crustal-scale structures intersecting greenstone belts within the Archean Superior craton. This new Western Superior strategy is focused on exploring large intrusive complexes with demonstrated gold and copper mineralization in hydrothermal and magmatic systems. The opportunity for VR is to be the first to apply the latest mineral deposit models and research along with modern exploration technology on the projects, in a historically underexplored area.
About VR Resources
VR is an established junior exploration company based in Vancouver (TSX.V: VRR; Frankfurt: 5VR; OTCQB: VRRCF). VR evaluates, explores and advances large-scale, blue-sky opportunities in copper, gold and critical metals in Nevada, USA, and Ontario, Canada, and more recently made Canada’s newest bluesky discovery of a diamond-bearing kimberlite pipe at its Northway project. VR applies modern exploration technologies and leverages in-house experience and expertise in greenfields exploration to large-footprint mineral systems in underexplored areas/districts. The foundation of VR is the proven track record of its Board in early-stage exploration, discovery and M&A. The Company is financed for its mineral exploration and corporate obligations. VR owns its properties outright and evaluates new opportunities on an ongoing basis, whether by staking or acquisition.
ON BEHALF OF THE BOARD OF DIRECTORS:
“Justin Daley”
_____________________________
Justin Daley, MSc, PGeo
President & CEO
| For general information please use the following: | |
| Website: | www.vrr.ca |
| Email: | info@vrr.ca |
| Contact: | Justin Daley, 604-865-5119; e-mail: jdaley@vrr.ca |
Forward Looking Statements
This press release contains forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Forward looking statements in this release, for example include but are not limited to: the general use of proceeds, that the Company will complete the financing; that the Company will carry out exploration on its Ontario property.
Although the Company believes that the use of such statements is reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Trading in the securities of the Company should be considered highly speculative.
The Company’s public disclosure filings can be accessed via www.sedar.com and readers are urged to review the materials.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
FAQ
What projects are covered under VR Resources (VRRCF) MOU with Lac des Mille Lacs First Nation?
What benefits does the December 2024 MOU provide to Lac des Mille Lacs First Nation from VR Resources (VRRCF)?
Where are VR Resources (VRRCF) new exploration projects located?
