BENEFIT AGREEMENT – Terms set for Snap Lake diamond mine

NORTHWEST TERRITORIES - The LUTSEL KE and KACHE DENE FIRST NATION members and project owner DE BEERS CANADA have concluded the terms of an impact benefit agreement for the Snap Lake diamond mine 220 km northeast of Yellowknife.

This agreement confirms community support for the success of the Snap Lake mine and establishes the way through which Lutsel Ke will share in the benefits of our success, said Jim Gowans, De Beers Canadas president and CEO. "Lutsel Ke agrees to respect the rights, licences, permits and authorizations to construct and operate the mine, and De Beers is providing benefits such as training, education, employment, business opportunities and financial compensation.

This is the final of four impact benefit agreements that De Beers has negotiated for the Snap Lake mine. Previous agreements have been concluded with the Yellowknife Dene First Nation (November 2005), the Tlicho government (March 2006) and the North Slave Metis Alliance (August 2006).

The official signing ceremony will take place on Aboriginal Day, June 21, 2007, in Lutsel Ke, NT.