Constantine Enters Into Exploration Agreement With Wahgoshig First Nation and Matachewan First Nation
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 15, 2014) - Constantine Metal Resources Ltd. (the "Company" or "Constantine") (TSX VENTURE:CEM) is pleased to announce that the Company has entered into an Exploration Agreement ("EA") with the Matachewan First Nation ("Matachewan") and the Wahgoshig First Nation ("Wahgoshig") on the Company's properties within the shared Traditional Territories of Wahgoshig and Matachewan. This currently includes the Company's Golden Mile property located within the city of Timmins, 9 kilometers northeast of the Hoyle Pond Gold Mine operated by Goldcorp Inc.
The primary purpose of the EA is to establish the foundation for ongoing communication with the Matachewan and Wahgoshig communities during the exploration process while respecting their culture, heritage and Traditional Territory. The EA also promotes training and employment for First Nation people and business opportunities for First Nation companies and partnerships. Garfield Macveigh, President and CEO of Constantine remarks; "Constantine has established very positive mutually beneficial relationship with the Wahgoshig First Nation since 2008 on its Munro Croesus project and looks forward to expanding its relationship with Wahgoshig and building a similar strong relationship with the Matachewan First Nation within the shared Traditional Territory of Matachewan and Wahgoshig. We believe that establishing a strong mining industry and First Nation association is essential to the future success of the mining industry in Canada."
Constantine and the First Nations have also agreed to a negotiation process leading to an Impact Benefits Agreement ("IBA") should any project within the shared traditional territory proceed to an advanced stage. The IBA will cover topics such as business opportunities, employment, training and financial compensation.
Chief David Babin, of Wahgoshig First Nation, commented; "We have had a very good relationship with Constantine over the years and look forward to a collaborative relationship in the future. This agreement protects our traditional values and continues to demonstrate that Wahgoshig First Nation promotes responsible development on our land."
Chief Elenore Hendrix of Matachewan First Nation, commented; "The Matachewan First Nation is extremely pleased to sign the formal Exploration Agreement with Constantine. This pact between us signals the Company's intent to engage our community in a responsible manner while allowing our citizens to provide input into the development and to promote a sustainable future for our territory."
Wahgoshig and Matachewan have entered into agreements with other mining companies, and are involved in the industry through business ventures and employment of its members while maintaining traditional activities and stewardship of the environment.
Under the terms of the EA, Constantine will be issuing an aggregate of 185,000 shares of the Company to Wahgoshig and Matachewan, subject to regulatory approval.
About the Company
Constantine is a mineral exploration company with a focus on premier North American mining environments. In addition to the flagship Palmer copper-zinc-silver-gold VMS Project located in Alaska that is being advanced in partnership with Dowa Metals & Mining Co., Ltd., Constantine has a pipeline of other quality projects that includes; (1) the 100% owned Timmins area Munro-Croesus Project a past-producing mine property that yielded some of the highest grade gold ever mined in Ontario and includes strategically located claims immediately along trend from the Fenn-Gib gold deposit (1.35 million ounces indicated and 0.75 million ounces inferred); (2) the large Golden Mile property in the Timmins gold camp that is optioned to Teck Resources Ltd. who can earn up to 66% by spending $5M; and (3) the 50/50 Joint Venture with Carlin Gold Corporation with a district-scale land position in an emerging new Carlin-type gold district in Yukon. Please visit the Company's website (www.constantinemetals.com) for more detailed company and project information.
On Behalf of Constantine Metal Resources Ltd.
Garfield MacVeigh, President & C.E.O.
Forward looking statements: This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively "forward looking statements")." Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the expected. 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. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.
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Constantine Metal Resources Ltd.
Constantine Metal Resources Ltd.