NTI holds (on behalf of Inuit) the title to 38,000 square kilometres of mineral rights in Nunavut, including rights to oil and gas. The main purpose of these rights is to enable NTI to participate in the minerals, oil and gas industries. During the last year, the Minerals Division promoted these mineral rights at four well known trade shows, including the Geoscience Forum in Yellowknife, the Exploration Roundup in Vancouver, the Prospectors and Developers Association of Canada (PDAC) Convention in Toronto, and the Nunavut Mining Symposium in Cambridge Bay. The main purpose of attending the trade shows is to promote NTI’s mineral holdings and to enter into exploration agreements with exploration and mining companies. Currently, NTI has 64 exploration agreements with various exploration and mining companies covering about 6,000 square kilometres.

In the past year, we collected about $1,080,000 in fees and rent from these agreements. NTI has not yet collected a royalty, but NTI does own the mineral rights for the Doris Gold Project and Meadowbank Gold Project, and we may enter a royalty stream in 2008. During the fiscal year, we received 15 expressions of interest, eight concerning uranium and seven concerning other minerals. Negotiations were initiated with seven companies, two were terminated, four are ongoing and one is currently being finalized. NTI and the RIAs committed to developing a policy on uranium mining in the coming year.

LPAC, which includes NTI and the Vice-Presidents of the RIAs, will oversee the development of the policy. This process will involve the communities of Baker Lake and Kugluktuk, GN, DIAND, NIRB, NWB, NPC, ITK, ICC, industry and the Nuclear Safety Commission. When LPAC is done their work, they will recommend a uranium mining policy to the NTI and RIA Boards of Directors.

The NTI and RIA Boards will make the final decision. In other areas, the division received $57,000 in DIAND funding to obtain high resolution satellite images of areas in Nunavut where exploration or mining is happening. The division worked closely with KivIA concerning the negotiation of the IIBA for Cumberland Resources’ Meadowbank Gold Project.

Mining Policy
Guide To Mineral Exploration
Exploration Agreement Application Form
Exploration Companies In Nunavut