Tahera, Inuit Sign Impact Benefit Agreement

Tahera Diamond Corporation and the Kitikmeot Inuit Association (KIA) have signed the formal Inuit Impact Benefit Agreement (IIBA) for the Jericho Diamond Project at a ceremony in Cambridge Bay, Nunavut.

The ceremony was conducted on the evening of September 8th and was attended by a large number of local dignitaries, representatives of the Territorial and Federal Governments, as well as elders and residents of the community.

Tahera says it believes festive event is a clear indication of the enthusiastic support that exists for its development plans with regard to Nunavut's first diamond mine. This ceremony marks the formal signing of the IIBA and follows an agreement in principle that was reached in late 2003.

The IIBA outlines the benefits that will be provided to Inuit as a result of the development and operation of the Jericho diamond mine. The agreement will ensure that local employment, training, and business opportunities arising from construction and operation of the project are provided to Kitikmeot Inuit.

The IIBA also outlines the special considerations and compensation that Tahera will provide for Inuit regarding traditional, social, and cultural matters, and effects on Inuit water rights.

The completion of the IIBA represents a significant accomplishment on the road to mine development and leads the way for other projects in Nunavut.