North American Palladium Signs Letter of Intent with Gull Bay First Nation
TORONTO, June 06, 2018 (GLOBE NEWSWIRE) -- North American Palladium Ltd. ("NAP") (TSX:PDL) (OTC PINK:PALDF) today announced it had signed a Letter of Intent (“LOI”) with Kiashke Zaaging Anishinaabek, also known as the Gull Bay First Nation (“KZA-GBFN”). The LOI, dated June 5, 2018, sets out an agreement in principle regarding certain outstanding matters between the parties that will be further defined in a more detailed participation agreement, which is to be negotiated in the near future.
As a result of the collaborative discussions with KZA-GBFN and following the signing of the LOI, KZA-GBFN members agreed to end their gathering at the primary access road to Lac des Iles Mine (“LDI”) on June 5, 2018. During this period of discussion, secondary access to LDI was maintained by mutual agreement and there were no safety issues or any impact on mine production.
“We would like to recognize Chief Wilfred N. King and the Gull Bay Council for the efficient and peaceful discussions. We look forward to continuing our discussions to advance our relationship. We would also like to thank the Ontario Provincial Police liaison unit for their excellent mediation of the event,” said Jim Gallagher, President and CEO of North American Palladium.
NAP would also like to recognize the constructive response from the Ministry of Northern Development and Mines for their assistance in resolving certain outstanding territory issues with KZA-GBFN.
Operations at LDI continue as normal.
About North American Palladium Ltd.
North American Palladium Ltd. (TSX:PDL) (OTC PINK:PALDF) is a Canadian company with over 25 years of production at Lac des Iles mine, located northwest of Thunder Bay, Ontario. North American Palladium is the only pure play palladium producer in the world. With over 600 employees, Lac des Iles mine features a unique world class ore body, modern infrastructure, including both an underground mine and an open pit mine, and a world class exploration portfolio.
SOURCE: North American Palladium Ltd.
For Further Information
North American Palladium Ltd.
Investor Relations
Telephone: 416-360-7374
Email: IR@nap.com