Osisko Development Corp. ("Osisko Development" or the "Company") announced that its 100%-owned Cariboo Gold Project ("Cariboo" or the "Project"), situated in central British Columbia ("BC"), Canada, has had its Mines Act permit referred to the statutory decision-maker within the BC Ministry of Energy, Mines and Low Carbon Innovation.
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The Environmental Management Act permit review has also been completed, and the Company is now awaiting its referral to the statutory decision-maker, expected in the near term. The Company anticipates receiving final decisions on these permits in Q4 2024.
Osisko Development remains committed to fostering collaborative partnerships with Indigenous nations connected to the Project. This commitment is reflected in the extensive consultations conducted over the years, along with the signing and ongoing implementation of participation agreements with the Lhtako Dené Nation in 2020 and the Williams Lake First Nation in 2022.
While an agreement with the Xatśūll First Nation has not yet been reached, the Company will continue to engage and consult with the Xatśūll First Nation, including after any decisions on the Mines Act and other permits.
We have made good faith and reasonable efforts in the past two years to reach agreement with Xatśūll First Nation, including reasonable offers for financial and other benefits along substantially similar frameworks as those offered to, and agreed by, other Indigenous communities. Our efforts have focused on providing meaningful benefits to all Indigenous nations, whilst ensuring the project remains viable.
Sean Roosen, Chairman and CEO, Osisko Development Corp.
The Company is committed to establishing a safe, modern, and sustainable operation at the Cariboo Gold Project. It remains dedicated to engaging in constructive dialogue to ensure that all stakeholders benefit from the Project’s development.
We must ensure the integrity of the permitting process is respected, because we believe the consultation on this Project has been robust. We stand by our record to date in meeting our obligations and expect the provincial government will act within its authority. Our commitment to engaging with Xatśūll First Nation will continue including after the permit decision is made. We genuinely want to find a meaningful, sustainable and realistic way to share the socio-economic benefits from this Project.
Sean Roosen, Chairman and CEO, Osisko Development Corp.
Over the past four years, the Company has engaged in constructive and extensive discussions with provincial regulators, Indigenous nation partners, and host communities. This process culminated in the granting of the Environmental Assessment Certificate ("EA Certificate") on October 10, 2023.
During the EA review, the Company successfully addressed over 1,700 comments, which was instrumental in securing the positive EA Certificate. Recently, as part of the permit application process, the Company responded to, addressed, and resolved over 1,800 comments across four rounds of review by the Mine Review Committee, which included participation from the Lhtako Dené Nation, Williams Lake First Nation, and Xatśūll First Nation.
The Company is dedicated to ongoing engagement with all Indigenous nations and stakeholders through permitting, management plans, and constructive relationships.