(TheNewswire)
HIGHLIGHTS
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Metallum and Pays Plat First Nation (“PPFN”) havesigned a Negotiation Agreement (the “Agreement”) to advance thedevelopment of the Superior Lake Zinc Project
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This Agreement outlines the negotiating terms for theImpact Benefit Agreement (“IBA”) which is the final agreementrequired before mine development commences
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The Company and PPFN aim to finalize the IBA during2H2022
Vancouver, BC – TheNewswire –June 14, 2022 - MetallumResources Inc. (TSXV:MZN) (“Metallum” or the “Company”) and Pays Plat First Nation (“PPFN”) areproud to announce the signing of a Negotiation Agreement (the“Agreement”) for the Superior Lake Zinc Project (“Project”) in Ontario, Canada .
PPFN is the primary First Nation Group where theProject is located. The signing of thisAgreement with PPFN is a major milestone, as it progresses regulatoryapproval for early-stage development works, and more importantly,outlines the timeline and key terms for the Impact Benefit Agreement(“IBA”). Both the Company and PPFN aim to have an IBA agreed andsigned later this year. The IBA is a formal, written agreement thathelps to manage the predicted impacts associated with an industrialdevelopment occurring on traditional lands and to secure economicbenefits for neighbouring aboriginal communities affected by thatdevelopment.
In addition, both the Company and PPNF jointly met withThe Honourable Patty Hadju, Minister of Indigenous Services of Canadaand Member of the Parliament for Thunder Bay North (the Project’sjurisdiction), to discuss the Project development, indigenousinvolvement, and current Permitting Process. The Company willcontinue to keep the market updated as these discussions progress.
Image 1: The Honourable PattyHadju, PPFN Chief Mushquash and Metallum’s CEO Kerem Usenmez
President and CEO,Kerem Usenmez commented , “ Metallum has built a strong relationshipwith the PPFN and the local communities over the past year, andsigning this Agreement solidifies the support and our collaboration tomove our exciting Project forward.
We very much value the support ofPPFN for the development of the Superior Lake Project. We are proud tobe partners with the PPFN and look forward to ongoing collaboration aswe move development in the future.”
Pays Plat FirstNation Chief Mushquash commented , “ This NegotiationAgreement sets a strong foundation for us to work collectively withMetallum on a number of economic opportunities. We look forward to theadvancement of this Agreement into an IBA stage as the Projectdevelops.”
Metallum also continues to work closely with the townof Schreiber, which is located 29 kilometers from the Project. TheCompany met with the Mayor, Kevin Mullins, as well as MunicipalityStaff to discuss the Project status.
Schreiber MayorKevin Mullins commented, “ We have the skilled labour, railwaystation and most of the supporting infrastructure very close to theProject. We are very excited about the future development of theSuperior Lake Project and will support Metallum to advance thisProject into production.”
President and CEO,Kerem Usenmez commented , “Having local support is crucial for anydevelopment Project. The local support has been very strong andencouraging for us. We look forward to working together with all thelocal communities and advancing quickly.”
Image 2: Metallum CEO Kerem Usenmez with SchreiberMayor Kevin Mullins and Nathan Dias, from City of Schreiber Mayor’soffice
ON BEHALF OF THE BOARD
For further information, contact:
Kerem Usenmez, President & CEO
Tel: 604-688-5288; Fax: 604-682-1514
Email: info@metallumzinc.com
Website: metallumzinc.com
Neither the TSXVenture Exchange nor the Investment Industry Regulatory Organizationof Canada accepts responsibility for the adequacy or accuracy of thisrelease.
Cautionary NoteRegarding Forward-Looking Statements
Certain statements contained in thisnews release constitute forward-looking statements within the meaningof Canadian securities legislation. All statements included herein,other than statements of historical fact, are forward-lookingstatements and include, without limitation, statements about theFeasibility Study, the updated economics for the Project, and theCompany’s development plans for the Project. Often, but not always,these forward looking statements can be identified by the use of wordssuch as “estimate”, “estimates”, “estimated”,“potential”, “open”, “future”, “assumed”,“projected”, “used”, “detailed”, “has been”,“gain”, “upgraded”, “offset”, “limited”,“contained”, “reflecting”, “containing”, “remaining”,“to be”, “periodically”, or statements that events,“could” or “should” occur or be achieved and similarexpressions, including negative variations.
Forward-looking statements involveknown and unknown risks, uncertainties and other factors which maycause the actual results, performance or achievements of the Companyto be materially different from any results, performance orachievements expressed or implied by forward-looking statements. Suchuncertainties and factors include, among others, the uncertainties inherent in theFeasibility Study and the updated economics of the Project; whether exploration anddevelopment of the Company’s properties will proceed as planned;changes in general economic conditions and financial markets; theCompany or any joint venture partner not having the financial abilityto meet its exploration and development goals; risks associated withthe results of exploration and development activities, estimation ofmineral resources and the geology, grade and continuity of mineraldeposits; unanticipated costs and expenses; risks associated withCOVID-19 including adverse impacts on the world economy, explorationand development efforts and the availability of personnel; and suchother risks detailed from time to time in the Company’s quarterlyand annual filings with securities regulators and available under theCompany’s profile on SEDAR at www.sedar.com. Although the Companyhas attempted to identify important factors that could cause actualactions, events or results to differ materially from those describedin forward-looking statements, there may be other factors that causeactions, events or results to differ from those anticipated, estimatedor intended.
Forward-looking statements containedherein are based on the assumptions, beliefs, expectations andopinions of management, including but not limited to: the accuracy ofthe Feasibility Study and the updated economics of the Project; thatthe Company’s stated goals and planned exploration and developmentactivities will be achieved; that there will be no material adversechange affecting the Company or its properties; and such otherassumptions as set out herein. Forward-looking statements are made asof the date hereof and the Company disclaims any obligation to updateany forward-looking statements, whether as a result of newinformation, future events or results or otherwise, except as requiredby law. There can be no assurance that forward-looking statements willprove to be accurate, as actual results and future events could differmaterially from those anticipated in such statements. Accordingly,investors should not place undue reliance on forward-lookingstatements.
ABOUT METALLUM RESOURCES
Metallum Resources (MZN.TSXV) owns 100% of the SuperiorLake Zinc and Copper Project in Ontario, Canada. The Project ranksas the highest grade zinc project in North America with a resource of2.35 Mt at 17.9% Zn, 0.9% Cu, 0.4 g/t Au and 34 g/t Ag.
The Company completed a positive Feasibility Study thathighlights the Project will rank in the lowest quartile of operatingcosts (C1 costs – C$0.44 / lb; AISC C$0.51 / lb). These low costsdriven by the high grade of the Project drive robust economic returns.The majority of permits and licenses are in place allowing for a quickre-development following a Final investment Decision.
For further details about the Company and the SuperiorProject, please visit the Company’s website at metallumzinc.com .
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