Meadowbank draft EIS date-stamped (January 13, 2005)

The draft environmental impact statement for the Meadowbank gold project in Nunavut is in the hands of the Territorial government.

Owner Cumberland Resources (CLG-T) is proposing an open-pit gold mine at the property, about 70 km north of Baker Lake. The mine would have an 8- to 10-year life and produce 250,000 oz. gold annually.

The draft statment goes to the Nunavut Impact Review Board for review, then will be the subject of public hearings. After the consultations Cumberland will issue a final impact statement.

Meadowbank has a measured and indicated resource of 22.9 million tonnes grading 4.4 grams gold per tonne, and an inferred resource of another 4.2 million tonnes grading 4.3 grams per tonne. The measured and indicated resource is in three separate mineralized zones, Portage, Vault and Goose Island.