BURSTOsisko Gold and the District of Wells have signed a three-year agreement supporting community initiatives tied to the Cariboo Gold Project.
According to a press release by the mining company, the agreement, effective July 21, was signed through Osisko Gold’s wholly owned subsidiary Barkerville Gold Mine Ltd. The agreement covers the 2026 to 2028 period.
It is intended to support social and economic initiatives in the District of Wells as the company’s 100 per cent owned, fully permitted Cariboo Gold Project advances.
According to Osisko Gold, the agreement establishes a framework for ongoing collaboration between the company and the district, reflects its commitment to addressing local interests and concerns, and provides social and economic benefits to the community.
Wells Mayor Ed Coleman celebrated what the agreement will mean for the community.
“As the project moves toward construction, this agreement provides us with critical resources and structure to address community needs and ensure that residents benefit from the opportunities ahead,” he said in the release. “We look forward to building on this foundation together.”
Greg Perrins, vice president of Sustainable Development of Osisko Gold, highlighted that both the district and residents are key partners as the mining company advances with the Cariboo Gold Project.
“Through this agreement, we remain committed to ensuring that the positive benefits of the project are felt locally and meaningfully,” he said.
“The initiatives supported under this agreement are intended to deliver lasting, positive benefits to the community and we look forward to continuing to work closely with the district as the project progresses.”
In the release, Osisko Gold said the agreement includes voluntary financial contributions of up to $3 million over three years, subject to the company’s sole discretion and continued participation under the agreement.
The company added that the funding will be provided in stages to support long-term community infrastructure investments and other priorities identified by the district.
One identified priority is $500,000 in capital and operating support for WILDways High School to support the school’s infrastructure and continued operation, allowing high-school-aged residents of Wells to attend school in their local community.
In its own release, the District of Wells also outlined the planned funding schedule which also includes $1 million to the district in 2026 for community improvements and support, followed by $750,000 in 2027 and $750,000 in 2028 for additional community improvements and support.
The district said the contributions are voluntary by Osisko Gold and that parties will continue to work collaboratively throughout the agreement, including quarterly meetings to discuss its implementation.