New Gold Inc. and Kamloops Division Sign Participation Agreement With Respect to New Afton Project
24 März 2008 - 2:04PM
Marketwired
KAMLOOPS, BRITISH COLUMBIA (AMEX: NGD) and the Kamloops Division
of the Secwepemc Nation, comprising the Kamloops Indian Band and
the Skeetchestn Indian Band, jointly announce that they have signed
a Participation Agreement relating to New Gold's New Afton Project.
The purpose of the Participation Agreement is to establish a
co-operative and mutually beneficial relationship between the First
Nations and the Company with respect to the Project and provide a
long-term framework for communication, collaboration and
cooperation. The Agreement will provide the Kamloops Division with
economic opportunities and social and financial benefits, including
employment, education, training and business opportunities. The
Agreement secures the consent of the Kamloops Division to the
Project and its support through all project phases.
In making the announcement Mr. Cliff Davis, President and CEO of
New Gold, commented: "We believe that the agreement we have signed
with the Kamloops Division is a milestone in the development of the
New Afton project and presents an unique opportunity for the
Company and the Kamloops Division to work together to ensure that
the Project is developed in an environmentally and culturally
sustainable manner, recognizing the value that the First Nations
place on the cultural, spiritual and historic heritage of the
land." Chief Ron Ignace of the Skeetchestn Indian Band said "These
were tough negotiations for all parties, but now we have an
economic alliance that will help both the Kamloops Division and New
Gold to be successful." Chief Shane Gottfriedson of the Kamloops
Indian Band, stated: "We believe that we have a deal with the
Company that will bring real long-term economic benefits to our
communities and the Company as well." Both Chiefs expressed the
hope that the New Gold agreement will send a positive signal to the
provincial government that the province also should seek an
agreement with the Kamloops Division, one that would reconcile
aboriginal interests with those of the Crown.
Contacts: New Gold Inc. Mr. Cliff Davis President and Chief
Executive Officer (416) 977-1067 70 University Avenue Toronto,
Ontario, M5J 2M4 Kamloops Indian Band Chief Shane Gottfriedson
(250) 318-8527 or (250) 828-9700 200-355 Yellowhead Hwy Kamloops,
British Columbia, V2H 1H1 Skeetchestn Indian Band Chief Ron Ignace
(250) 851-6757 or (866) 373-2493 PO Box 178 Savona, British
Columbia, V0K 2J0
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