Canadian Malartic GP Responds to Filing of a Class Action Motion

CMGP remains committed to the implementation of a concrete solution developed with the community: "The Good Neighbour Guide"

MALARTIC, QC, Aug. 5, 2016 /PRNewswire/ - Canadian Malartic GP (CMGP), as was initially announced in a joint press release on August 2, 2016, has reviewed the contents of a Class Action Motion filed earlier this week by the plaintiff Louis Trottier with the Citizens Committee for the Zone South of the Malartic Railway (CCZSVFM). CMGP is disappointed that some residents from this sector have chosen a litigation option as the team at the Canadian Malartic mine has been working collaboratively with the community of Malartic and its citizens to develop a "Good Neighbour Guide" (the Guide). CMGP will take all reasonable steps necessary to defend itself from this lawsuit.

The Guide was developed through a collaborative and transparent process with the citizens of Malartic, various stakeholder groups and experts, and addresses the allegations contained in the lawsuit.

Key elements of the Guide include the terms of the financial compensation available to all residents living in the three neighbourhoods of Malartic. Compensation is being offered for issues related to noise, dust and vibrations and is based on the intensity of the impacts, as well as the resident's proximity to the mine. A property acquisition program for residents living in the neighbourhood closest to the mine (south of the railway) is also part of the Guide. The Malartic Working Group is committed to begin implementing the compensation terms of the Good Neighbour Guide on September 1, 2016.

Since Monday, August 2, 2016, the Malartic Working Group has been holding information sessions with the residents of Malartic to provide each resident with the details of the compensation amount they are entitled to (both retroactively and annually on a go-forward basis), as well as the purchase option available to all residents of the southern district. To date, more than 200 people have participated in these sessions and the hours for upcoming sessions have been extended to provide citizens additional opportunities to have their questions answered.

"We are pleased with the positive response from the community. The majority of citizens so far are telling us that they are satisfied with the offer, including its ease of application, the amounts they will receive, and the planned timeline for compensation to begin, and they are eager to register for it. The reaction of the people has confirmed that the joint development and collaboration approach bears fruit", says Melissa Desrochers, Coordinator Community Relations & Communications.

The main comments identified to date can be summarized to the effect that citizens appreciate that the Guide provides concrete, immediate solutions for the entire community and the territory inhabited by the town of Malartic.

Canadian Malartic Mine
The Canadian Malartic mine is indirectly owned jointly by Agnico Eagle Mines Limited and Yamana Gold Inc. Together they form the Partnership and the Canadian Malartic Corporation. Partnership Canadian Malartic (PCM) owns and operates the Canadian Malartic mine, while the Canadian Malartic Corporation (MCC) is responsible for exploration projects in Ontario and Quebec. The Canadian Malartic mine is the largest operating gold mine in Canada.

The Malartic Working Group
The Working Group is composed of three representatives from each of the following organizations: the Canadian Malartic Monitoring Committee, the Town of Malartic and the Malartic Mine Canadian. Through a consultation process with the community, the stakeholders developed the Guide for the mitigation and compensation of impacts caused by the mine and providing guidelines for the acquisition of property in Malartic.

SOURCE Canadian Malartic Partnership