Toronto, Ontario--(Newsfile Corp. - May 29, 2024) - STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) ("STLLR" or the "Company") and the Tłı̨chǫ Investment Corporation ("TIC"), the business arm of the Tłı̨chǫ Government, are pleased to announce funding from the Canadian Northern Economic Development Agency ("CanNor") for C$619,625 to support a two-year project to install a renewable energy generation and storage unit at the Colomac Gold Project in the Northwest Territories ("NWT"), Canada. The total project cost is C$774,543 including an investment from TIC.
Project activities include the purchase and installation of a solar power generation and storage unit (panels, inverters, and batteries) and staff training on the unit's operation and maintenance. TIC has developed a collaborative and mutually beneficial relationship with Solvest Inc. for the installation phase of the project. With an estimated life span of 25 years for the solar panels, and 15 years for the batteries, TIC estimates that STLLR Gold will save approximately 51,000 litres of diesel (equivalent to 138 tonnes of CO2 emissions), reducing STLLR Gold's camp site diesel consumption by 86%.
Keyvan Salehi, President and CEO of STLLR Gold, commented, "Our agreement with TIC to build a solar farm at the Colomac Gold Project in the NWT further strengthens our partnership with the Tłı̨chǫ Nation. The agreement also demonstrates our commitment to long-term sustainable practices and safeguarding the ecosystem at Colomac. The solar farm will supply most of our camp's power requirements, while significantly reducing operating costs and fuel emissions."
Paul Gruner, CEO of TIC, comments, "TIC firmly believes that a thriving economy needs strategic investments and collaborative partnerships to build a sustainable future. This project will contribute to our renewable energy capacity and will also serve as an exemplary model of sustainable development for the NWT and Canada as a whole."
About STLLR Gold
STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) is a Canadian gold development company actively advancing two cornerstone gold projects in Canada: The Tower Gold Project in the Timmins Mining Camp in Ontario and the Colomac Gold Project located north of Yellowknife, Northwest Territories. Each of these two projects has the potential for a long-life and large-scale operation and are surrounded by exploration land with favorable upside potential. STLLR's experienced management team, with a track record of successfully advancing projects and operating mines, is working towards rapidly advancing these projects.
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