PESSAMIT, QUEBEC--(Marketwired - June 16, 2017) - Mason Graphite Inc. ("Mason Graphite" or the "Company") (TSX VENTURE:LLG)(OTCQX:MGPHF) and the Innu Council of Pessamit today signed the Mushalakan Agreement, an Impact Benefit Agreement ("IBA") resulting from the 2014 Cooperation Agreement between the Parties.
The Mushalakan Agreement, negotiated directly between the Pessamit Council and the executives of Mason Graphite, reflects the willingness of the Parties to work closely together to ensure that the Lac Guéret graphite mining project is a success and benefits the Pessamit Community and the population of Manicouagan. In a same voice, Chief René Simon and Benoît Gascon, CEO of Mason Graphite, said they were very pleased with the agreement and welcomed this new collaboration between the Pessamit First Nation and the Company. "We are very proud to announce today the Mushalakan Agreement, which is based on a principle of equity between nations. This Agreement will benefit the people of Quebec and the Pessamiuilnut with respect of their rights and their territory" said Benoît Gascon. On his side, Chief Simon emphasized the Corporation's exemplary approach to this project: "From the outset, Mason Graphite acted with great respect and ethics towards our First Nation. The approach undertaken by Benoît Gascon and his team created a standard on the territory of Pessamit."
Employment and Financial Arrangements
Under the Mushalakan Agreement, the Parties commit to develop a specific training and employment strategy for the Pessamiuilnut. This strategy will be developed in such a way as to ensure employment opportunities at all levels for the Pessamiuilnut and to encourage their retention and advancement within the project. In addition to the strategy, this agreement will allow the Innus of Pessamit to participate in the project concretely, through contracting opportunities and will ensure fair and equitable financial and socio-economic benefits. The latter will promote and protect the rights, the way of life and the culture of the Pessamiuilnut in addition to supporting the economic development of present and future generations.
Lac Guéret Mining Project
The Lac Guéret project, with an initial life span of 25 years, consists of an open-pit mine located approximately 285 km north of Baie-Comeau on the Nitassinan (traditional territory) of the Pessamit First Nation, and a processing plant and a tailings pond located in the Jean-Noël-Tessier Industrial Park in Baie-Comeau. With a projected annual capacity of approximately 51,900 tonnes of graphite concentrate, the project will provide close to 100 direct jobs to the region's Aboriginal and non-Aboriginal workers which will be shared with the objective of reflecting the demographic proportion of the communities of Pessamit and MRC Manicouagan with a tilt for Pessamit.
About Mason Graphite and the Lac Guéret Project
Mason Graphite is a Canadian mining and processing company focused on the development of its 100% owned Lac Guéret natural graphite deposit located in northeastern Québec. The Company is led by a highly experienced team that has over five decades of experience in graphite production, sales, and research and development. For more information, visit www.masongraphite.com.
