www.columbiayukon.com
Columbia Yukon Explorations is a mineral exploration company. Its most advanced property is the Storie molybdenum deposit located near the historic mining camp of Cassiar, B.C. The Storie deposit has a February 2009 NI 43-101 compliant Indicated and Measured Resource of 139.82 M/tonnes grading 0.064% and 58.39 M/tonnes of Inferred Resource grading 0.059% Mo at a 0.030% cut off.
Columbia Yukon Explorations Inc. – Signs Resource Funding Agreements with First Nations
In a clear indication of the rapid progress it is making at the “Storie” molybdenum property, Canadian Venture and Frankfurt listed Columbia Yukon Explorations Inc’s (TSX.V: CYU, Frankfurt: VOR.F) has entered into two Resource Funding Agreements with the Dease River Indian Band, Daylu Dena Council, Kwadacha First Nation and Kaska Dena Council (“BC Kaska”). Under the Agreements, Columbia Yukon has agreed to provide resource funding to the BC Kaska to contribute to the cost of negotiating a Traditional Knowledge Protocol (the “TK Agreement”) and a detailed Socio-Economic Participation Agreement (the “SEPA”).
For those who are less familiar with the mining environment in Canada which involves First Nations, it is important to secure agreements to go ahead with exploration and development activities. Failure to secure the support of the First Nations has caused considerable delays for some mining companies.
Columbia Yukon and the BC Kaska currently operate under a Memorandum of Understanding (the “MOU”) which has been in place since November 2007. The TK Agreement will govern future operations and will also assist the parties in establishing the appropriate traditional knowledge protocols for the exploration and development of the Storie Property. As part of the potential development and design of the mine infrastructure for the Storie project, Columbia Yukon and the BC Kaska wish to conclude a SEPA which would include environmental, cultural and socio-economic and business opportunities and benefits, including employment and training, for members of the BC Kaska and their businesses.
Chief Cat Lee of the Dease River Indian Band has commended its cordial relationship with Columbia Yukon and expressed the confidence in the opportunities and benefits to the community following the agreement. The Kaska Dena will maintain and further our socio-economic vision with a sustainable economic development that provides meaningful incentives, benefits and opportunities for Kaska citizens. George Miller, Chair of the Kaska Dena Council, added that the while ensuring a continued relationship with the mining community agreements provide a catalyst towards further Aboriginal nation-building. Miller anticipates meaningful investment in Kaska territory would benefit all citizens including environmental compliance and infrastructure development.
About Columbia Yukon Explorations Inc.:
Columbia Yukon is a Canadian mineral exploration company focused on the development of its Storie Molybdenum Property deposit located in northern British Columbia, 5km south of the Hwy from the former Cassiar Mine townsite. In addition to the Storie project, Columbia Yukon has 100% interest in Barr Claims, Labrador, comprising 60 map staked mineral claims covering 15 square kilometres located approximately 90 kilometres north of the Voisey’s Bay nickel. CYU’s other projects include Barnes Creek property, VBE 1 property and VBE – 2 Property. www.columbiayukon.com .
