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Last updated on April 18, 2014 at 1:21 EDT

The Métis Nation of Ontario and Rainy River Resources Sign Memorandum of Understanding

July 10, 2013

TORONTO, July 10, 2013 /CNW/ – The Métis Nation of Ontario (“MNO”) and
Rainy River Resources Ltd. (“Rainy River” or the “Company” (RR.TSX))
are pleased to announce that they have signed a Memorandum of
Understanding (“MOU”) to guide their working relationship in regard to
the development of the Rainy River Gold Project in the Township of
Chapple, approximately 65 kilometers northwest of Fort Frances,
Ontario.

“The MNO is pleased with the positive relationship-building efforts that
Rainy River has demonstrated by signing this agreement,” stated MNO
President Gary Lipinski.  “We developed this MOU collaboratively to
guide engagement and consultation with the regional rights-bearing
Métis communities in the Treaty #3/Lake of the Woods/Lac Seul/Rainy
River/Rainy Lake traditional territories.  I am pleased that the MNO
was able to foster a strong foundation upon which consultation and
accommodation can take place with Rainy River and I applaud Rainy
River’s efforts in working with the Métis Nation. This initial
agreement represents a milestone in our continuing working relationship
with the Company.”

Raymond Threlkeld, President and CEO of Rainy River Resources Ltd.
added: “We are delighted to have reached this milestone agreement with
the Métis Nation of Ontario. We thank the MNO for working in
collaboration and consultation with us to develop this strong
foundation for continued partnership.”

The MOU lays out the way in which the local Métis community, as
represented by the MNO’s Treaty #3/Lake of the Woods/Lac Seul/Rainy
River/Rainy Lake Regional Consultation Committee and the MNO Community
Councils that are part of the committee, will be consulted regarding
the development of the project. It also provides details about how the
parties will work together to address potential impacts on Métis’
rights, interests and way of life.

MNO Regional Councilor Theresa Stenlund, Chair of the Region One
Consultation Committee commented: “Our regional Métis community would
like to acknowledge Rainy River Resources in working with the Treaty
#3/Lake of the Woods/Lac Seul/Rainy River/Rainy Lake Consultation
Committee.  Through this MOU, the MNO will continue to strengthen its
relationship with Rainy River while protecting our traditional values
and way of life.”

Subject to the project impacts on Métis rights and interests (if
identified through the consultation process), the parties also agreed
to negotiate an Impact Benefit Agreement (“IBA”) based on the goals and
objectives of the MOU.

About MNO

The MNO represents the Métis people and Métis communities within Ontario
through a province-wide governance structure at the local, regional and
provincial levels.  For more information on the MNO as well as its
framework for government and companies to consult with Métis
communities in Ontario, visit www.metisnation.org.

About Rainy River

Rainy River Resources Ltd. is a Canadian precious metals exploration
company whose key asset is the Rainy River Gold Project, a large gold
system centred in Richardson Township (part of Chapple Township). As at
March 31, 2013, the Company had approximately $90 million in cash and
cash equivalents, and it remains well funded for its ongoing
activities, including: 1) commencement of basic and detailed
engineering work and ongoing permitting and environmental assessment
work; 2) continuing to grow the existing resource through exploration;
3) conducting a condemnation program in areas identified for potential
mine facilities. RRGP is very well located in Northwestern Ontario. It
is accessed by a network of roads and is close to hydro-electric
infrastructure. The Rainy River district has a skilled labour force and
is one of the lowest-cost areas for mineral exploration and development
in Canada. Ontario has low political risk and, according to the annual
Fraser Institute global survey of the mining industry, has consistently
ranked as one of the top jurisdictions embracing mineral development.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This release includes certain statements that may be deemed to be
“forward-looking statements”. All statements in this release, other
than statements of historical facts, that address events or
developments that management of the Company expects, are
forward-looking statements. These statements include the possible
conversion of inferred resources into higher confidence categories of
resources. Although management believes the expectations expressed in
such forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance, and actual
results or developments may differ materially from those in the
forward-looking statements. The Company undertakes no obligation to
update these forward-looking statements if management’s beliefs,
estimates or opinions, or other factors, should change. Factors that
could cause actual results to differ materially from those in
forward-looking statements, include market prices, exploration and
development successes, continued availability of capital and financing,
and general economic, market or business conditions. Please see the
public filings of the Company at www.sedar.com for further information.
 

SOURCE Rainy River Resources


Source: PR Newswire