Cleghorn Signs Exploration Agreement with the Matachewan First Nation and Mattagami First Nation (Wabun Tribal Council)
Cleghorn Signs Exploration Agreement with
the Matachewan First Nation and Mattagami
First Nation (Wabun Tribal Council)
Val-D'Or, Quebec--(Newsfile Corp. - November 21, 2025) - Cleghorn Minerals Ltd. (TSXV: CZZ)
("Cleghorn" or the "Company") is pleased to announce the signing of a milestone Exploration
Agreement dated October 15, 2025 (the "Exploration Agreement") with the Matachewan First Nation
(Matachewan FN) and Mattagami First Nation (Mattagami FN), members within the Wabun Tribal
Council (WTC). The Exploration Agreement was signed by the three companies within the "Zed Zed
Group": Cleghorn Minerals Ltd., International Prospect Ventures Ltd., and Val-D'Or Mining Corporation
("Val-D'Or Mining"). The Exploration Agreement covers the Company's Operational Areas of Interest
("the Properties") within the First Nations' traditional lands, located in northeastern Ontario's Abitibi
Greenstone Belt.
The Exploration Agreement outlines the terms on how consultation and impact mitigation on exploration
activities will be conducted. It also delivers financial benefits, including contracts, jobs, and training
opportunities during the exploration phase, for both current and future work programs across the property
portfolio covered by the Exploration Agreement. Further, the Exploration Agreement provides that the
Company will, subject to the approval of the TSX Venture Exchange, issue to each of Matachewan FN
and Mattagami FN 50,000 common shares of the Company, and will also grant to each of Matachewan
FN and Mattagami FN incentive stock options to acquire 50,000 shares of the Company at a per share
price of $0.06 for a period of five years from issuance, in accordance with its incentive stock option plan
and a consulting agreement among the parties. The Exploration Agreement will remain in effect until
such time that an Impact Benefit Agreement (IBA) has been concluded.
Glenn J. Mullan, CEO of Cleghorn Minerals commented, "We would like to extend our sincere gratitude
to Chief Batisse of the Matachewan First Nation and Chief Constant of the Mattagami First Nation, along
with their respective Councils, the negotiating committee led by their Mineral Development Advisors, the
Wabun Tribal Council, and the local community members. This milestone represents the culmination of
more than five years of relationship-building and dialogue between the Company and the Matachewan
and Mattagami First Nations, and the Wabun Tribal Council, and establishes a strong foundation for on-
going cooperation among all parties."
Cleghorn remains committed to responsible exploration and to delivering shared economic
opportunities to the local communities. An official signing ceremony will be held at the Wabun Tribal
Council offices in Timmins, Ontario. Details will be announced once confirmed.
About Cleghorn Minerals Ltd.
Cleghorn is a junior mineral exploration company with a 100% interest in the Meech Lake - Matachewan
- Prospect, a property located in northeastern Ontario.
For additional information, please contact:
Glenn J. Mullan
2772 chemin Sullivan
Val-D'Or, Québec J9P 0B9
Tel.: 819-824-2808, x 204
Email:
Forward-Looking Statements:
This news release contains certain statements that may be deemed "forward-looking statements.
Forward looking statements are statements that are not historical facts and are generally, but not always,
identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects",
"potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should"
occur. Although the Company believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements are not guarantees of future performance and
actual results or realities may differ materially from those in forward looking statements. Forward-looking
statements are based on the beliefs, estimates and opinions of the Company's management on the date
the statements are made. Except as required by law, the Company undertakes no obligation to update
these forward-looking statements in the event that management's beliefs, estimates or opinions, or other
factors, should change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
news release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/275404