Sudbury, Canada– January 17, 2012 – Sagamok Anishnawbek First Nation (“Sagamok”) and Quadra FNX Mining Ltd. (the “Company” or “Quadra FNX”) (TSX: QUX) are pleased to announce that they have signed a Memorandum of Understanding (“MOU”) that will serve as a foundation for a working relationship between the parties with respect to the Advanced Exploration Program at Quadra FNX’s Victoria Project until an Impacts and Benefits Agreement (“IBA”) is concluded. The agreement process is being pursued in conjunction with environmental permitting for the Victoria Project.
The MOU with Sagamok was signed by Chief Paul Eshkakogan and Michael Winship, Chief Operating Officer, Quadra FNX in Sudbury on December 23rd, 2011.
“This Memorandum of Understanding will facilitate open and timely dialogue between Quadra FNX and our First Nation as it relates to the Company’s activities to develop the Victoria Advanced Exploration Project. We look forward to negotiating an IBA that will provide benefits for our members and ensure the environment and our traditional territories are protected” said Sagamok Anishnawbek Chief, Paul Eshkakogan. Continue Reading →