Appia Rare Earths & Uranium Corp. (CSE:API, OTCQB:APAAF) said it has signed a letter of intent with the Fond du Lac Denesuline First Nation, as the company proposes to increase its high-grade rare earth elements and gallium mining operations within the traditional territories of the northern Saskatchewan First Nation.
The letter was effective as of September 22, 2022, and refers to Appia’s 100%-owned Alces Lake property. Fond du Lac lies approximately 60 kilometres (km) south of the 60 Parallel and about 1,275 km northwest of Prince Albert, Saskatchewan.
The letter outlines the working relationship between Appia Rare Earths & Uranium and Fond du Lac and moves the Alces Lake project forward by negotiating final agreements, the company said.
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Both the Toronto, Ontario-based mining company and First Nation have connected with the Canadian federal government on its 2022 budget programs and are using a critical minerals strategy to create jobs and economic growth in the critical minerals sector, for the benefit of Fond du Lac and the Athabasca Region, according to Appia.
Appia Rare Earths & Uranium CEO Tom Drivas said: "In keeping with being responsible stewards of the environment and good corporate citizens, our goal for this LOI is to have a mutual working relationship with Fond du Lac that not only benefits the parties financially and economically but includes respect for the environment and First Nation traditional ecological knowledge.”
Canadian federal policy includes Indigenous participation and partnerships, and a 30% Critical Mineral Exploration tax credit targeting rare earth elements. The company said it will work with the First Nation to obtain project funding as necessary.
Drivas said there has never been a better time to be involved in critical mineral exploration in Saskatchewan.
“Our critical minerals strategy aims to position Saskatchewan as a global leader in the supply chain of critical minerals, and we work together in the spirit of mutual respect, trust, and cooperation,” Drivas said in a statement.
Chief Kevin Mercredi of Fond du Lac Denesuline First Nation said the intention is to create long-term benefits for the First Nation.
"Council and I are pleased that Appia Rare Earths & Uranium Corp. (CSE:API, OTCQB:APAAF) recognizes the importance of the traditional lands of Fond du Lac and has taken the initiative to reach out to Fond du Lac to work together for our long-term mutual benefit in the spirit of respect and co-operation,” Mercredi said.
Appia is a Canadian publicly-listed company in the rare earth element and uranium sectors. The company is currently focussing on delineating high-grade critical rare earth elements and gallium on the Alces Lake property, as well as exploring for high-grade uranium in the prolific Athabasca Basin on its Otherside, Loranger, North Wollaston, and Eastside properties.
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