Government of Yukon


FOR RELEASE
September 14, 2017

Premier and Minister lead investment mission in Toronto

Yukon Premier Sandy Silver and Minister of Economic Development and Energy, Mines and Resources Ranj Pillai are leading a mining and mineral exploration investment mission to Toronto, Ontario on September 14 and 15.

The two will meet with leaders of the mining and exploration community, investors, fund managers, industry associations and media to promote opportunities in Yukon. Meetings will conclude with an investor’s lunch where Premier Silver and Minister Pillai will join company CEOs to present opportunities to the investment community.

This mission follows the September 2 announcement by Prime Minister Justin Trudeau of a $247 million commitment to the Yukon Resource Gateway Project. The Government of Yukon has committed $112.8 million to this project following the development of project agreements with affected First Nations and environmental and socio-economic review, and industry has committed $108 million. The project will see the building and improvement of more than 650 kilometres of roads through mineral-rich areas. This investment is a clear indication of the government’s commitment to enhancing Yukon’s economic future and industry’s confidence in the territory.

Yukon’s mineral industry is showing incredible growth in 2017. Yukon Geological Survey is estimating 2017 exploration expenditures in Yukon to be in the range of $122.7 million. This is more than double last year’s estimate of $57 million.

Quotes

“The Yukon has amazing mineral potential, a stable regulatory process and a supportive government. We believe future economic prosperity is achieved through respectful communications between First Nation governments, industry and ourselves. We are in Toronto to share this incredible potential with industry investors.”

–Premier Sandy Silver

“We have entered a new era of mineral exploration in this territory which will lead to the next generation of mines being discovered and built. We now have five of the world's largest gold mining companies directly or indirectly investing significant dollars to explore and develop in the Yukon. That alone shows the confidence this market has in Yukon's potential.”

–Minister of Energy, Mines and Resources and Minister of Economic Development Ranj Pillai

Quick facts

  • Yukon Resource Gateway Project commitments are $247 million from the Government of Canada, $112 million from the Government of Yukon and $108 million from industry. The next step is to work with affected First Nations to complete project agreements.
  • Goldcorp has acquired the Coffee Gold project for $520 million from Kaminak Gold Corp. as well as an equity stake in three Yukon projects and properties: Triumph Gold Corp, Independence Gold Corp and Arcus.
  • Victoria Gold, an advanced project with $220 million in financing and construction, is now underway at the Eagle Gold project.
  • Golden Predator acquired $17.5 million bought-deal financing and is actively moving forward with further exploration of the 3 Aces project.
  • Barrick Gold is investing up to $63.3 million in ATAC Resources through their Orion project.
  • Newmont Mining secured rights with Goldstrike Resources to earn 80 percent equity in the Plateau property with an exploration investment of $39.5 million.
  • Agnico Eagle has acquired a 19.9 percent stake in White Gold Corp. valued at $6.3 million.
  • Alexco Resources is moving the Keno Hill Silver District towards redevelopment.
  • Rock Haven Resources completed a $675,000 private placement from Coeur Mining Inc.
  • Metallic Minerals has received $1.3 million in private placement funding this year.

Learn more:  Yukon Resource Gateway Project
Invest Yukon

Contact:

Sunny Patch
Cabinet Communications
867-393-7478
sunny.patch@gov.yk.ca
 
Juanita Power
Communications, Economic Development
867-667-5907
juanita.power@gov.yk.ca

News Release #17-184