Canadian Royalties -SNC-Lavalin Inc. sign Letter of Intent to negotiate EPCM Services Agreement
MONTREAL, June 25 /CNW/ - Canadian Royalties Inc. (the "Company" or "Canadian Royalties") announced today that it has signed a Letter of Intent with SNC-Lavalin Inc. to award a contract with respect to engineering, procurement, and construction management services ("EPCM Services") in connection with start-up activities at the Nunavik Nickel Project located in northern Quebec.
Canadian Royalties was acquired in November 2009 by Jien Canada Mining Ltd., 75% of whose shares are owned by Jilin Jien Nickel Industry Co., Ltd. of China, whose shares trade on the Shanghai Stock Exchange, and 25% of whose shares are owned by Vancouver based Goldbrook Ventures Inc. (GBK-V), whose shares trade on the TSX Venture Exchange. In connection with the EPCM Services, Canadian Royalties' Chief Executive Officer, Mr.Wu Shu said that "we are most pleased to secure the services of Canada's leading engineering and project management firm, SNC-Lavalin, to assist us in the planning and development of the Nunavik Nickel Mine. We have a high level of confidence in SNC-Lavalin's capabilities and we trust that its extensive experience in the mining industry in Quebec will be beneficial in assisting Canadian Royalties as it moves towards the development of the mine."
"SNC-Lavalin is a world leader in the design, construction management and commissioning of processing facilities, and we have been involved in some of the largest nickel project developments to date," said Feroz Ashraf, Executive Vice-President, SNC-Lavalin Group Inc. "We are pleased to be working in this region again, and welcome the opportunity to work with Canadian Royalties at the Nunavik site."
Exploration and preliminary work will continue at the Nunavik Nickel Project site this year. It is anticipated that the Company will make a further announcement later this year about its future development and operating plans for the mine.For further information: Mr. Wu Shu, Chief Executive Officer, 800 Boulevard René-Lévesque W., Suite 410, Montréal, Québec, H3B 1X9, Tel. : 514-879-1688