ONTARIO – Explor Resources of Rouyn-Noranda has signed a memorandum of understanding with the Flying Post First Nation of Nipigon and the Mattagami First Nation of Gogama with respect to Explor’s Timmins Porcupine West gold property. The company welcomed its new partners in a release.
In order to fashion a relationship with the First Nations, Explor will issue 500,000 common shares to both the Flying Post and the Mattagami First Nations. This issuance of equity enables the Flying Post and the Mattagami First Nations to become shareholders and participate in the success of Explor Resources as Explor moves the Timmins Porcupine West project to the next phase in the development of the property. This issuance of shares is subject to the approval of the regulatory authorities.
The Timmins Porcupine West gold property located in Bristol and Ogden townships, and it is contiguous with Lakeshore Gold West Timmins mine. Highway 101 bisects the property and provides access from the city of Timmins located 13 km to the east.
Explor’s recent presentation about the project is available at ExplorResources.com.