Probe Metals signs MoU deals for West Porcupine Project in Canada

27 September 2016 (Last Updated September 27th, 2016 18:30)

Probe Metals has signed a memorandum of understanding with Mattagami and Flying Post First Nations in relation to its West Porcupine Project near Foleyet, Ontario, Canada.

Probe Metals has signed a memorandum of understanding with Mattagami and Flying Post First Nations in relation to its West Porcupine Project near Foleyet, Ontario, Canada.

With this MoU, Probe has made a commitment to develop a productive, cooperative relationship and to engage in ongoing consultation with the two First Nations groups for West Porcupine Project.

Furthermore, this agreement will provide the communities with an opportunity to gain benefits from the project through employment, training and business development.

Probe president and CEO David Palmer said: "We are looking forward to working with both Mattagami and Flying Post First Nations on our West Porcupine project. 

"Their contribution of local knowledge will be invaluable in helping us create a socially responsible exploration programme that will benefit the communities."

"Their contribution of local knowledge will be invaluable in helping us create a socially responsible exploration programme that will benefit the communities, the project and the company as we move forward.

"Probe is committed to sustainable development and this MoU represents the first step in building strong relationships with local stakeholders.”

Wabun Tribal Council executive director Jason Batise said: “We are pleased to announce our completed MoU with Probe.

"The agreement will allow our First Nations to continue to grow with respect to education, employment, collaboration with Probe on environmental matters, and investment into our communities. David and his team truly understand the importance of meaningful engagement with First Nation communities on whose homelands they are exploring. We look forward to working with Probe for years to come."

Under the MoU, the firm will issue 25,000 common shares and 50,000 options to both First Nations communities.

Each option will be exercisable into one common share at $1.76 for a period of five years.