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FOR RELEASE     #06-115
May 19, 2006

Letter Of Understanding Formalizes Commitment To Yukon Placer Regime

WHITEHORSE - The Government of Yukon, Fisheries and Oceans Canada and the Council of Yukon First Nations (CYFN) have signed a letter of understanding that formally commits the partners to joint cooperation in the implementation of a new placer regime for the Yukon.

"The Government of Canada is proud to be collaborating with the Council of Yukon First Nations and the Yukon territorial government," said Fisheries and Oceans Canada Minister Loyola Hearn. "Once completed, the new Yukon placer mining regulatory regime will serve Yukon interests for years to come."

The two governments and the CYFN have given the newly-established Yukon Placer Secretariat the mandate to complete and implement a new Yukon placer mining regulatory regime by 2007. The three partners have worked collaboratively since 2003 to develop a framework for a new management regime that recognizes the importance of a sustainable placer mining industry and the need to protect fish and fish habitat.

"It is most appropriate that this announcement coincides with the Dawson City Gold Show and Yukon Mining and Geology Week," Energy, Mines and Resources Minister Archie Lang said. "The economic climate in the Yukon for mining and exploration is generating an optimism that we have not experienced in years. The work being done by the Yukon Placer Secretariat on the new regime is not only timely but will provide the industry with certainty through an integrated administrative and regulatory process."

"The signing of the Letter of Understanding confirms our commitment to work together," said Andy Carvill, Grand Chief of the Council of Yukon First Nations. "As the regime is completed, all Yukon First Nations will be given the opportunity to contribute local and traditional knowledge that will be used in developing the watershed authorizations under the new regime."

The Yukon Placer Secretariat has initiated a three-phase consultation process that will give First Nations, mandated boards, stakeholders and other interested parties and the public approximately one year to consider the regime that is being proposed and to provide input.

For more information on the proposed placer regime and the Yukon Placer Secretariat, visit www.yukonmining.com and www.yukonplacersecretariat.ca.

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 Contact:    
 Peter Carr  Elaine Schiman  Carrie Mishima
 Cabinet Communications  Yukon Placer Secretariat  Fisheries and Oceans Canada
 (867) 667-8688  (867) 334-2975  (604) 666-0392
 peter.carr@gov.yk.ca  elaine@northwestel.net