Newmont buys up former QuestEx properties from Skeena to support Taltan Nation

Newmont (NYSE: NEM; TSX: NGT) has an agreement in place with Skeena Resources to acquire certain properties located in Tahltan Territory of northwestern British Columbia. These properties were previously held by QuestEx Gold and Copper, but will be transferred to Newmont now that Skeena has completed the acquisition of QuestEx. Newmont will pay $27 million to Skeena for the assets.

Newmont plans to work collaboratively with Tahltan Nation, the Iskut community and the B.C. government to make available portions of the acquired properties to support various land planning objectives of the indigenous communities.

“We are committed to developing a world-class mining jurisdiction in the region which includes sustainable resource development while protecting and conserving lands under the Tahltan Stewardship Initiative that are important to the Tahltan Nation and the Iskut community,” stated Newmont president and CEO Tom Palmer. “We are acquiring the land in an effort to address concerns raised by the Tahltan Nation. The mining claims around Iskut are not being purchased for development or their mineral potential.”

Newmont supports the Tahltan Stewardship Initiative designed to preserve key areas around the community of Iskut and the work of the Tahltan and British Columbia to achieve reconciliation outcomes, the gold major stated in its news release. It believes there is "shared value in the creative solutions this acquisition will enable the parties to advance."

Last March, Newmont acquired the Saddle North deposit, part of the Tatogga project in the Tahltan Territory, through its acquisition of GT Gold. At the time, the company recognized and continues to acknowledge the need for Tahltan consent to advance the project.

For more information, please visit www.newmont.com.