PMET and Cree Nation of Chisasibi Sign Agreement for Project Assessment Process

PMET Resources Inc. has entered into a non-binding Letter of Intent (LOI) with the Cree Nation of Chisasibi, establishing a framework for engagement and assessment concerning the proposed Shaakichiuwaanaan Project. The LOI does not signify approval or endorsement of the project.

The agreement aims to foster open information exchange, discussion, and mutual understanding regarding the project's potential benefits, risks, impacts, and mitigation measures. The parties intend to establish working groups to address specific topics such as training, employment, local economic development, and environmental concerns.

"The LOI provides a framework for continued engagement and information sharing with Chisasibi," stated Ken Brinsden, CEO and Managing Director of PMET. He noted that the company has been engaged in discussions with Chisasibi since 2022, with approximately 25% of the project's workforce being members of the Cree community in 2025.

As a non-binding document, the LOI does not commit either party to final decisions. It serves to prepare for potential future negotiations, including possible Impact and Benefit Agreements (IBAs), in accordance with the Cree Nation's own decision-making processes.

As the review and permitting process for the Shaakichiuwaanaan Project in the Eeyou Istchee James Bay region progresses, this agreement ensures the Cree Nation can evaluate project information and voice its concerns before any further steps are planned.