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ATTAWAPISKAT, ON, and TORONTO - The Attawapiskat First Nation and De Beers Canada announce jointly that agreement has been reached to proceed with the winter programme for the Victor diamond project.

Subject to the terms of the Agreement, the Attawapiskat First Nation has agreed to support the winter programme on the Victor project. This will allow for completion of the feasibility study. Both parties have agreed to work together to address environmental issues and permitting for the winter programme. The parties have also agreed to start negotiations on an Impact Benefit Agreement (IBA) in January 2003.

De Beers Canada has also agreed to make an immediate investment in the community towards a permanent education and training facility. Once developed, this facility would be owned by the Attawapiskat First Nation, regardless of whether or not a mine is constructed at Victor.

"It is De Beers' desire to direct funding to education and training as this is both fundamental to the company's sustainable development objectives, and in line with the company's corporate social investment policies," said Richard Molyneux, President and CEO of De Beers Canada.

A decision would be made to construct a mine after the completion of a positive feasibility study, successfully negotiating an IBA, issuing of the necessary permits, and the provision of funding by the De Beers Board.

Community spokesperson Councillor Thomas Tookate said "This agreement is a win-win solution for both partners. The Attawapiskat First Nation is excited by the partnership opportunities with De Beers which would lead to greater employment and business opportunities. However, the long term success of the partnership will also depend upon our Treaty relationship with Government by providing the necessary resources to negotiate a proper Impact Benefit Agreement, and to ensure that our community's land rights and environmental concerns are adequately addressed."

"We are delighted to have reached an agreement with the Attawapiskat First Nation and that the jobs and opportunities in the community will continue this winter. We look forward to an on-going and mutually beneficial relationship with the community as the Victor project progresses," said Molyneux.

For further information: Linda Dorrington, Manager - Communications, De Beers Canada Corporation, 416-804-5801, 416-645-1710 (ext 412), 905-849-0619, linda.dorrington@ca.debeersgroup.com; Thomas Tookate - Councillor, Attawapiskat First Nation, General Manager - Attawapiskat Development Corporation, Phone: 705-997-2375, FAX: 705-997-3422, tookate@onlink.net