After many months of negotiation, AurCrest has agreed to partner with ADLP to bring 974,000 hectares of potential carbon offsetting to market in a larger 1,028,496 hectare forest (the 'Ogoki Forest'). ADC is the general partner of a limited partnership comprising the Aroland First Nation, the Eabametoong First Nation and the Marten Falls First Nation within whose traditional territories the
It is part of AurCrest's mandate to assist under clause 92 of the
As outlined in the Company's Press Release dated
The benefits derived from the monetization of the carbon credits, net of expenses, will be split as to 75% to ADLP and 25% to Big Tree. The ERB Agreement has an initial term of five years commencing from the date the first emission reduction benefits available for sale are generated by the project. At the end of the initial five year term, ADLP can purchase the 25% interest for fair market value. If the interest is not purchased at the end of the initial five years, the ERB Agreement continues for a further five years after which time the 25% interest held by Big Tree will be relinquished to ADLP.
ABOUT AURCREST GOLD INC.
AurCrest is a mineral exploration company focused on the acquisition, exploration, and development of gold properties. AurCrest has a portfolio of properties in
Contact:
Tel: (807) 737-5353
Email: christopherangeconeb@gmail.com
Forward Looking Statement
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. AurCrest undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
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