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NANA Ready for Development of Aqqaluk Deposit

Alaska Native Corporation Gears Up for the Future of Red Dog Mine

Anchorage, Alaska – May 20, 2010 – NANA Regional Corporation, Inc. (NANA) is pleased that the Aqqaluk Deposit at Red Dog Mine will be developed.  The announcement regarding development was made today by Teck, the mine’s operator, after months of uncertainty surrounding the opening of the new deposit.  Ore from the Aqqaluk Deposit is needed to supplement ore from the Main Deposit, which is almost mined out.

“We are excited to move forward with this next phase at Red Dog Mine,” said Marie N. Greene, NANA Regional Corporation president and CEO.  “NANA and Teck have worked very hard to ensure that the social, cultural, environmental and economic benefits of Red Dog will remain in place for our people and our region.”

Red Dog Mine, located in Northwest Alaska, is situated on land owned by NANA and operated by Teck. The fate of the mine has been uncertain since the Environmental Protection Agency (EPA) pulled certain water quality provisions from the National Pollutant Discharge Elimination System (NPDES) Permit it issued in respect of the main water discharge from the Red Dog Mine in February of this year. The action was in response to an appeal filed by two environmental law firms, on behalf of two environmental organizations, the IRA Councils for two villages and five individuals.

Teck has determined to proceed with development of Aqqaluk and stated that it will continue to maintain a water discharge that is protective of water quality and the environment.

Red Dog is the source of economic stability and growth for Alaska’s Northwest Arctic Borough – creating jobs in an area of the state where jobs are few, funding local government, supporting schools and sustaining important social and cultural programs that help preserve the Iñupiat way of life for NANA’s more than 12,000 shareholders.  Approximately 58 percent of the mine’s more than 500 employees are NANA shareholders and many NANA subsidiary companies provide millions in goods and services annually to the mine.

Teck stated that preparations to begin mining the Aqqaluk Deposit are currently underway.

About NANA Regional Corporation

NANA Regional Corporation, Inc. (NANA) is one of the 13 Regional Native Corporations created pursuant to the Alaska Native Claims Settlement Act (ANCSA). NANA’s mission is to provide economic opportunities for its more than 12,000 Iñupiat shareholders and to protect and enhance NANA lands. Join the hunt at www.nana.com.   

Associated Release

http://www.marketwire.com/press-release/Teck-Resources-Announces-Aqqaluk-to-Proceed-TSX-TCK.A-1263812.htm

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