First Nation ends lawsuit against company as part of deal
Discovery Silver (TSX: DSV, US-OTCQX: DSVSF) announced it has signed a resource development agreement (RDA) with Taykwa Tagamou Nation (TTN). The agreement aims to establish a framework for ongoing consultation and communication, fostering a cooperative and respectful relationship. It provides a foundation for gaining support for Discovery’s mining and mineral processing activities within TTN’s traditional territory, ensuring mutual benefits.
Taykwa Tagamou Nation is an Ojibway and Cree First Nation located in Northern Ontario in the Cochrane district along the Abitibi River.
As part of the agreement, TTN will file a notice of discontinuance in the Ontario Superior Court of Justice regarding an action it previously brought against Discovery, which named the company as a defendant. Taykwa Tagamou Nation is terminating its lawsuit against Discovery Silver regarding government laws, regulations, and authorizations linked to mining activities and treaty rights in Ontario. This decision follows the First Nation’s recent agreement with Discovery to develop a resource development partnership. The lawsuit was originally filed against Newmont Corporation, which Discovery acquired earlier this year in January.
In a news release, Taykwa Tagamou Nation stated that it now aims to build a new and improved relationship with the U.S.-based mining company given the history of acrimony between the two parties.
Tony Makuch, Discovery’s CEO, stated, “We are honoured to have entered into this agreement with TTN and wish to thank the band council and particularly Chief Bruce Archibald for their trust in us and commitment to working together. This agreement provides the framework for responsible development within their traditional territory, ensuring that the members of TTN share in the economic benefits of our business operations and participate in our efforts to respect the land and waters, minimizing negative impacts and supporting the prosperity of other local communities. We have tremendous respect for all of our First Nations partners, and value the many agreements that have been achieved and the mutual benefits that have resulted.”
More information is posted on www.DiscoverySilver.com
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