SUDBURY, ONTARIO -- (Marketwired) -- 06/11/13 -- Northern Superior Resources Inc. ("Northern Superior" or the "Company") (TSX VENTURE: SUP) is pleased to announce that it has concluded a Pre-Development Agreement with the Grand Council of the Crees (Eeyou Istchee), the Cree Regional Authority, and the Ouje-Bougoumou Cree Nation. The agreement, sets out each party's respective roles and responsibilities with respect to the exploration and pre-development of the Company's Croteau Est and Wachonichi mineral exploration projects in Eeyou Istchee Territory. The agreement also reflects the parties' common desire to promote a cooperative and mutually respectful relationship.
Under the agreement, Northern Superior has undertaken to provide meaningful Cree participation in the awarding of contracts for the supply of goods and services. The Crees have in turn, agreed to support the projects and to cooperate with Northern Superior in the preparation of environmental and social impact assessment studies, should Northern Superior advance the projects to a stage where such studies are required. Similarly, should the projects be advanced sufficiently, the Crees are also committed to use their best efforts to ensure that the projects proceed through the environmental and social assessment process provided for in the James Bay and Northern Quebec Agreement, and, once environmental and social concerns are met, to assist Northern Superior in obtaining required governmental approvals.
Should the mineral exploration projects be advanced to a point where Northern Superior is required to file a "Notice of Intent" with the Ministere du Developpement durable, de l'Environnement et des Parcs, Northern Superior has undertaken to then conduct a business and employment capacity study to assess the business and employment capacity within Ouje-Bougoumou. In addition, Northern Superior will also then open a business development office in Ouje-Bougoumou and hire a community member as an environmental monitor, to enable the Parties to jointly monitor the activities of Northern Superior during the term of the agreement.
Finally, the parties have agreed that if Northern Superior determines that the projects are economically viable with the completion of a pre-feasibility study, that they will then enter into discussions towards concluding an Impacts and Benefits Agreement with respect to the Croteau Est and Waconichi mining projects of Northern Superior.
Dr. T.F. Morris, President and CEO of Northern Superior comments: "We are very pleased to receive the support of the Ouje-Bougoumou Cree Nation, the Cree Regional Authority and the Grand Council of the Crees (Eeyou Istchee) for Northern Superior's Croteau Est and Waconichi gold exploration properties. This support will assist greatly in advancing exploration on these properties, and ensure that all stakeholders involved with this venture have an opportunity to share in the potential economic and social benefits that may be derived from any significant discoveries made."
Dr. Matthew Coon Come, Grand Chief of the Grand Council of the Crees (Eeyou Istchee) commented: "This agreement marks the beginning of a collaborative and fruitful relationship between the Crees and Northern Superior, a relationship based on an alignment of interests, founded on environmental and economic sustainability and the respect of Cree rights. The Crees and Northern Superior will continue to cooperate, as partners, in the economic and social development of Eeyou Istchee."
Mr. Reggie Neeposh, Chief of the Ouje-Bougoumou Cree Nation, stated: "We are very pleased to be signing this agreement today as it reflects the kind of mutually beneficial working relationship which is required to promote harmony and good will throughout our region. In particular, we are happy to see this kind of relationship develop which acknowledges our rights and our role in the territory. We look forward to continued good relations with Northern Superior as these projects progress in a spirit of openness, transparency and cooperation."
About Northern Superior Resources Inc.
Northern Superior is a junior exploration company exploring for gold in the Superior Province of the Canadian Shield. The Company is currently focused on exploring its Croteau Est/ Waconichi gold properties in Quebec. The Company has a number of 100% owned properties (see Company web site, www.nsuperior.com) in the Stull-Wunnumin and Chibougamau gold districts. These include the highly prospective TPK property in north-central Ontario.
Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Quebec, and trades on the TSX Venture Exchange under the symbol SUP.
Forward looking statements: This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act or 1995 (collectively, "forward looking statements"). Forward looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", " expect", " potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved or other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, exploration results, interpretation of results, the timing and success of exploration activities generally, the timing and results of future resource estimates, and future plans and objectives of Northern Superior are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Northern Superior's expectations include exploration risks, changes in project parameters as plans continue to be refined, results of future resources estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Northern Superior Resources Inc.
Thomas F. Morris PGeo., PhD., ICD.D, FGAC
President and CEO
(705) 525-7701 (FAX)
Most Popular Stories
- Homeowners More Satisfied With Mortgage Servicers
- Ford Tremor: Easy to Park, Hard to Pay For
- What Hamas and Israel Hope to Gain in Gaza
- WWE Showing Off Its Muscles
- As Jobs Market Strengthens, Many Don't Feel It
- Target Taps Pepsi Exec as New CEO
- NASA Plans to Make Oxygen on Mars
- House Shelves Immigration Bill, Goes on Vacation
- Notorious RBG Tells All in Couric Interview
- Why Samsung Shares Plunged in the April-June Quarter