Power Metal Resources plc’s uranium joint venture has signed an exploration agreement with a group of First Nations for exploration in Northern Saskatchewan, Canada.
COLLABORATION
Fermi Exploration Ltd and Ya’thi Néné Lands and Resources (YNLR) have also agreed a “mutual commitment to fostering a sustainable and collaborative relationship in the Athabasca region”.
Owned by three First Nations and four municipalities in northern Saskatchewan, YNLR promotes and enhances the “environmental, social, economic and cultural well-being of current and future Athabasca residents”.
Power Metal said that the exploration agreement supported Fermi’s permitting and exploration in the region.
In return, YNLR and the Athabasca communities have terms for business and employment opportunities, and community liaison and engagement.
Power Metal chief executive officer Sean Wade said that Fermi was the first UK-based junior exploration company to sign an exploration agreement with the YNLR.
“This agreement marks an important milestone in building a collaborative and respectful relationship with the Denesųłiné First Nation communities and Athabasca municipalities.
“Fermi looks forward to fostering a strong and mutually beneficial partnership founded on trust, transparency, and shared opportunity.”
The JV with 70% owner and investor, UCAM Fermi, is exploring on Power Metal’s 18 properties in and around the Athabasca Basin and in Labrador, covering an aggregate 111,125.74 hectares.