VANCOUVER, Sept. 28 /CNW/ - Chief Rick Holmes, of the Upper Similkameen
Indian Band (USIB) and J. Paul Stevenson, CEO, Sego Resources Inc. (SRI), are
pleased to announce that they have signed a comprehensive Memorandum of
Understanding (MOU) to enable the exploration and potential future mine
development of the Miner Mountain property immediately northeast of Princeton,
This MOU supports the USIB's principles of environmental stewardship,
economic sustainability and self-determination. It also commits both parties
to working collaboratively throughout the process of mineral exploration and
development for lands under provincial tenure to SRI. Importantly, the
agreement recognizes and respects the aboriginal title and rights of the USIB
to the lands comprising the Miner Mountain property.
This comprehensive agreement demonstrates that large new exploration
projects such as Miner Mountain can be developed with the active support of
the local First Nation communities if there is a long-term commitment to
establish a cooperative and mutually beneficial working relationship.
"SRI's commitment to open, transparent and mutually beneficial
relationships with local communities is at the heart of SRI's strategy for
successful resource development and we are very proud to be working with the
USIB in the Miner Mountain project," says J. Paul Stevenson, CEO, Sego
"By signing this agreement, the USIB and our partners are making a
commitment to work together in the environmentally and socially responsible
development of BC's Mining Industry, specifically when this occurs in our
territory," states Chief Holmes.
The MOU commits SRI and the USIB to enhance and deepen their already
strong relationship. It will provide certainty for local communities,
investors and SRI alike that Miner Mountain will be explored with the support
and involvement of USIB. The parties hope that the approach taken here will
set a standard for others in the mineral exploration sector.
- Recognition of the USIB's traditional rights, title and interests to
the project area, as well as, SRI's rights to explore and develop
mineral resources in the Miner Mountain project;
- Establishment of measures and procedures that will fully engage the
USIB in all aspects of the project;
- Development of opportunities for employment, contracting and related
business creation for the USIB
- Assistance to the USIB to develop and retain its capacity to
effectively participate in and benefit from any development activities
associated with SRI mineral tenures in the Band's Territory.
- To develop and foster a positive, cooperative and productive working
relationship between the parties through jointly implementing the
commitments made in the MOU.
The agreement will remain in effect throughout the life of the Miner
Mountain project and will be binding on any future operator of the mine.
The Upper Similkameen Indian Band is an aboriginal community whose
members live primarily in the Hedley area. The Band's 8 reserves are located
between just east of Hedley to north of Princeton.
The Miner Mountain project is located in the Quesnel/Stikine Terrain,
immediately northeast of Princeton, BC. The property consists of 38 mineral
claims and is approximately 20 sq. km in size.
SRI has an option to acquire 100% interest, subject to an NSR, in the
claims. The Miner Mountain project is an early stage copper, gold, palladium
porphyry project in the prolific Princeton mining camp.
Sego is advancing two(2) projects in British Columbia. The Gold Hill
property, north of Barriere, BC and the Miner Mountain porphyry project near
Princeton, BC. More information is available at our website.
For further information:
For further information: Upper Similkameen Indian Band, Philippe Batini
- Band Manager, Box 310, Keremeos, BC V0X 1N0, Tel: (250) 499-2221, Fax: (250)
499-5117 Email: email@example.com; Sego Resources Inc., J. Paul Stevenson, CEO, No.
211-744 West Hastings Street, Vancouver, BC, V6C-1A5, Tel: (604) 682-2933 Fax: