Defense Metals Corp. and the McLeod Lake Indian Band have entered an agreement surrounding the Wicheeda Project, 80km north of Prince George.
The agreement saw McLeod Lake purchase “a meaningful equity stake in Defense Metals,” the band reporting they now hold 2.6 million common company shares.
The 20,000 hectare rare earth element Project is situated on the traditional territory of the McLeod Lake Indian Band. You can learn more about it here.
With the purchase of shares, the Band and Defense Metals entered into a Co-Design Agreement, which “emphasizes a joint planning approach, empowering MLIB to play an integral part in the design and decision-making process in the technical, social, engineering and environmental aspects of the Wicheeda Project.”
Josie Osborne, the Minister of Energy, Mines and Low Carbon Innovation, said “The collaboration between Defense Metals and McLeod Lake Indian Band demonstrates how earlystage consultation with First Nations can bring important projects to life in a way that benefits everyone. Partnerships like this play a pivotal role in shaping BC’s natural resources future, as we lay a concrete path toward achieving our net-zero goals through collaboration and advancing reconciliation.”
“McLeod Lake Indian Band values its partnership with Defense Metals, and together, we are pioneering a new standard in collaborative project development, which is a true form of reconciliation. We’re proud to be a part of a project that will be a key contributor to global energy transition goals, and one that will
deliver long-term economic benefits to our community for generations to come,” said McLeod Lake Indian Band Chief Harley Chingee.
Defense Metals is a part of the Discovery Group. You can learn more about them here.