24 First Nations secure $6.6M education fund from Newmont and Orla Mining

First Nation LP (FNLP), Newmont (NYSE: NEM), and Orla Mining (TSX: OLA; NYSE: ORLA) have established a C$6.6 million education, training, and skills development fund. Opiikapawiin Services LP (OSLP), a service organization owned by 24 First Nations, will administer the fund. This significant investment aims to empower members of the 24 First Nations in Northwestern Ontario, offering opportunities to advance their skills, careers, and cultural practices. The C$6.6 million will be contributed over a 10-year period.

First Nation Limited Partnership (FNLP) is a partnership of 24 First Nations in northwestern Ontario working together to connect 17 remote communities to the provincial power grid and remove diesel generation as their primary source of power. FNLP was established in 2015 to be the ownership and control of the Participating First Nations' interest in Wataynikaneyap Power LP. The 51% interest in Wataynikaneyap Power LP is equally owned by each of the 24 First Nation communities and FNLP will maintain their ability to increase their ownership to 100% over time.

The fund will support a wide array of programs designed to boost education, career advancement, and cultural revitalization. These include career development initiatives, trades training, mentorship, land-based learning, literacy programs, STEM initiatives, scholarships, and access to digital tools and technology.

"This fund builds on a long-standing partnership that shows what is possible when we work together with a shared goal of seeing communities succeed. It ensures that our youths today have the opportunity to gain the education, training, and knowledge needed for them to take charge of building a bright and prosperous future, “ Eliezar McKay, FNLP chair, said.

“We would like to extend our heartfelt thanks to Newmont Corporation and Orla Mining Ltd. for choosing to contribute to this fund and reinvest in our communities. Through this initiative, we're creating another avenue for future generations to thrive through lasting change, while ensuring the vision of our Elders and ancestors continues to be carried forth."

This initiative strengthens a long-standing partnership between FNLP and the Musselwhite mine. Newmont previously owned the mine (formerly Goldcorp), and Orla now operates it.

The 24 First Nations collectively own 51% of Wataynikaneyap Power, alongside Fortis Inc. and other private investors. First Nations have championed energy security in the region for over 30 years. Goldcorp initially joined the project to meet its power needs and support First Nation ownership, providing crucial funding for pre-development costs. Goldcorp’s early investment helped kickstart one of Canada's most significant Indigenous-led infrastructure initiatives.

Rather than demanding payment on a promissory note established for pre-development costs, Newmont and Orla agreed to redirect those funds to the region through a new charitable organization. Community members seeking to further their education and skills development will now have an additional support option.

"It is important for Orla to support and contribute to the momentum and priorities established by the member Nations of FNLP. We are proud to be building on these historic partnerships with Indigenous communities in Northern Ontario and recognize that true partnership means working together with respect, understanding and a shared purpose,” Silvana Costa, chief sustainability officer for Orla Mining commented.

“The development fund will leverage one unifying project and transform it into the next, and we hope the generation of youth that participate in these new opportunities will in turn be able to do the same. We look forward to being part of this next chapter in the region."

"Although Newmont has since divested our assets in Ontario, our commitment to lasting, positive impact remains. This investment honours the spirit of partnership that shaped our time in the region and looks ahead--supporting youth, education, and Indigenous-led development for generations to come." David Thornton, managing director for Newmont Americas, said.

More information is posted on www.OrlaMining.com, www.Oslp.ca, and https://www.Newmont.com.