ABORIGINAL AFFAIRS: Rainy River inks deal with First Nations

ONTARIO – Rainy River Resources of Toronto and the Naicatchewenin First Nation, Rainy River First Nations, Mitaanjigamiing First Nation, Couchiching First Nation, Lac La Croix First Nation and Seine River First Nation (together the First Nations) have signed a participation agreement that covers and development and operation of the company’s Rainy River gold project 80 km south of Kenora.

The agreement sets out a schedule of benefits including employment and business opportunities, funding to support skills development, occupational training and education, as well as equity participation for the First Nations.

This year Rainy River is conducting environmental baseline and geotechnical studies plus metallurgical tests for an open pit and underground mine. The preliminary economic assessment will be updated by mid year, and the project will move into the feasibility stage. The mine is expected to go into production in 2015.

The 2011 43-101 report for the Rainy River project is available at RainyRiverResources.com.