2-02692

$500 MILLION MACKENZIE GAS PROJECT SOCIO-ECONOMIC FUND

EDMONTON, July 18, 2005 - The Government of Canada, the Government of the Northwest Territories and representatives of the Gwich'in, Kahsho Got'ine, Inuvialuit, Tulita/Deline and Deh Cho, announced today that they have reached an agreement on a framework that will address many of the socio-economic concerns associated with the Mackenzie Gas Project.

The Government of Canada is prepared to provide $500 million over the next ten years to create a fund to address socio-economic impacts on communities related to the planning and construction of the Mackenzie Gas Project. Contributions to the fund will depend on project milestones being met. Parties have agreed to work together to resolve outstanding technical issues related to the fund.

All participants at the meeting agreed that this announcement represents an important step in the collective effort to move the Mackenzie Gas Project forward, and acknowledged that all parties involved in the project must continue to work in good faith in order to resolve outstanding issues, including completion of access and benefits agreements.

For further information:

Ken Moreau
Office of the Deputy Prime Minister,
Minister of Public Safety and Emergency Preparedness
Tel.: (613) 991-2863

Media Relations
Indian and Northern Affairs Canada
(819) 953 1160

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