TORONTO, ON / ACCESSWIRE / November 30, 2022 / Big Tree Carbon Inc. (the "Company" or "Big Tree") (TSXV:BIGT) is pleased to announce that work has been initiated on the Lac Seul pilot carbon offsetting project in conjunction with the Obishikokaang Resources Corporation ("ORC") and project partner Anew Climate LLC ("Anew").
ORC is 100% owned by Lac Seul First Nation ("LSFN") and is the First Nation's forest management company, with responsibility for forest management on Lac Seul I.R. 28 and is a partner to the enhanced sustainable forest licence for the Lac Seul Forest Crown management unit in Northwestern Ontario. Principal staff and Board members of ORC have been developed from within Lac Seul's own Band membership, and the corporation has been in operation since 2012.
Upon recommendation from project partner Anew in their recently-updated prefeasibility assessment, the Lac Seul Community Forest Project will pursue project registration through the American Carbon Registry ("ACR") voluntary Improved Forest Management program for Canadian forests. The ACR voluntary program carries a 40-year crediting period, during which the sustainable forestry practices set out in the project design will maintain and sequester carbon throughout the life of the project, with no longer-term obligation such as would be applicable in a compliance-based project.
Initial stages of project development include definition of the overall project boundary, and valuation of other ecosystem service benefits associated with the land, coupled with ongoing community and First Nation governance engagement. The prefeasibility assessments provided by project partner Anew contemplate 22,063 hectares of productive forested area on the Lac Seul reserve lands, which does not include the footprint of the First Nation's three communities. The quantum of annual credits generated by this project will be determined through project development activities of all project partners, and will be reported to shareholders once the project is registered with ACR.
Big Tree has an interest with Anew and a third party in 25% of the total annual project revenue from the Lac Seul Community Forest Project with 75% of the total annual project revenue going to LSFN. See the Company's Press Releases dated May 11, 2020 and May 15, 2020.
ABOUT BIG TREE CARBON INC.
Big Tree is a carbon sequestration natural resource developer and a mineral exploration company focused on the acquisition, exploration, and development of gold properties. Big Tree has a portfolio of Forest Carbon projects under development namely the Lac Seul and Agoke projects - and several mineral exploration assets in Ontario, which include the Richardson Lake, Ranger Lake, Dancing Man and Bridget Lake gold properties.
FOR FURTHER INFORMATION PLEASE CONTACT:
Big Tree Carbon Inc.
| Christopher Angeconeb | Ian Brodie-Brown |
| President and C.E.O. | Director of Business Development |
| (807) 737-5353 | (416) 844-9969 |
| christopherangeconeb@gmail.com | bigtree007@icloud.com |
Forward Looking Statement:
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. AurCrest undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Big Tree Carbon Inc.
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