Rockhaven Resources Ltd. ("Rockhaven") is pleased to announce the signing of an Exploration Benefits Agreement ("EBA") with the Little Salmon Carmacks First Nation ("LSCFN"). The EBA is related to exploration activities at Rockhaven's Klaza gold-silver project, which is located within the LSCFN traditional territory, approximately 50 km by road west of Carmacks, Yukon.
The EBA provides certainty for both parties through the exploration phase of the Klaza project as it establishes the framework under which Rockhaven and the LSCFN will advance the project through a mutually-beneficial working relationship.
The key elements under the EBA are as follows:
- The establishment of a cooperative working relationship between LSCFN and Rockhaven based on mutual respect, communication and collaboration;
- A recognition of the importance of the natural environment and ongoing LSCFN traditional values and activities;
- Direct and indirect economic benefits for the LSCFN, LSCFN citizens and LSCFN businesses through equity involvement and employment and business opportunities related to the Klaza exploration activities;
- The establishment of specific processes under which exploration and environmental monitoring activities at the Klaza project will be undertaken;
- The prohibition of any exploration activities by Rockhaven on LSCFN Class A or Class B lands prior to the completion of a separate exploration agreement; and,
- Rockhaven and LSCFN agree to work toward negotiation of a full economic participation agreement in tandem with any future feasibility study that might be conducted for the project.
"Rockhaven is very pleased to have the support of the Little Salmon Carmacks First Nation and we look forward to continuing our excellent relationship in a more formal manner," says Rockhaven's CEO Matt Turner. "Chief Eric Fairclough and Council have been very proactive in working with Rockhaven and the dedicated employees we have hired from the LSCFN have greatly contributed to the exploration success at Klaza. We look forward to commencing negotiations on a socio-economic participation agreement as we continue to advance the project towards development."
As a condition of the EBA and subject to TSX Venture Exchange acceptance, Rockhaven will issue 500,000 share purchase warrants to the LSCFN. Each warrant will entitle the LSCFN to purchase one Rockhaven share at any time prior to August 5, 2020. The exercise price will be the closing price of Rockhaven's shares on the date the TSX Venture Exchange accepts the agreement for filing.
About the Klaza Project and Rockhaven
The road accessible Klaza project hosts a recently announced inferred mineral resource estimate that includes 7,040,000 tonnes containing 948,348 oz gold, 21,780,313 oz silver, 121,060,093 lbs lead and 144,340,881 lbs zinc at an average grade of 4.19 g/t gold, 96.23 g/t silver, 0.78% lead and 0.93% zinc using a 1.5 g/t gold cut-off (see Klaza Property Amended Technical Report dated June 19, 2015 which can be viewed at www.sedar.com under the Rockhaven profile or on the Rockhaven website) A fully funded exploration and engineering program that includes 15,000 m of diamond drilling is currently underway. The drilling is primarily designed to expand the current resource while providing key geotechnical and environmental data.
The 2015 program is managed by Archer, Cathro & Associates (1981) Limited (Archer Cathro). Technical information in this news release has been approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer Cathro and qualified person for the purpose of National Instrument 43-101.
For additional information concerning the Klaza project or Rockhaven please visit our website at www.rockhavenresources.com.
Matthew Turner, CEO and Director