Cleghorn Minerals Ltd. has executed a milestone Exploration Agreement with the Matachewan First Nation and Mattagami First Nation of the Wabun Tribal Council, covering its operating areas in northeastern Ontario’s Abitibi Greenstone Belt. The agreement, dated October 15, 2025, provides for shared responsibilities in consultation and impact mitigation for exploration activities. It also delivers economic benefits to the communities—including training, contracts and jobs—tied to the company’s work on multiple properties under the Zed Zed Group portfolio.
Subject to approval by the TSX Venture Exchange, Cleghorn will issue 50,000 common shares and grant 50,000 incentive stock options to each First Nation, exercisable over five years at a set price. The agreement remains in force until a formal Impact Benefit Agreement is concluded.
Glenn J. Mullan, CEO of Cleghorn Minerals Ltd., praised the collaborative groundwork over more than five years with the First Nations and the Wabun Tribal Council, noting the pact affirms a shared path forward. This step strengthens Cleghorn’s social licence to explore in the region—with aligned community support, responsible practices and a framework to build mutual value.