Business
KORE and Torres Martinez Desert Cahuilla Indians Sign Letter of Intent for Resource Development
Announces change to its Board of Directors Vancouver, British Columbia--(Newsfile Corp. - August...
About this update from Kore Mining Ltd.
[{"type":"text","content":"KORE and Torres Martinez Desert Cahuilla Indians Sign Letter of Intent for Resource DevelopmentAnnounces change to its Board of DirectorsVancouver, British Columbia--(Newsfile Corp. - August 11, 2023) - KORE Mining Ltd. (TSXV: KORE) (OTCQB: KOREF) (\"KORE\" or the \"Company\") is pleased to welcome the Torres Martinez Desert Cahuilla Indians (\"TMDCI\") as a strategic community and business partner to Project ACES (\"A Clean Environment for the Salton Sea\") and the Imperial Gold Project in Southern California. In addition, KORE also announces a change to its Board of Directors.Under the terms of the non-binding letter of intent, KORE and TMDCI will collaborate on sustainable economic and business development ventures where there is an alignment of interests. These ventures will include, but not be limited to, advancing Project ACES and the Imperial Gold Project, exploring joint venture opportunities in natural resource development in Imperial County and surrounding areas, including the \"lithium valley\" and the greater Salton Sea region, collaboration on management and leadership training within the community, and fostering economic diversification, stability, and growth. These ventures will assist the TDMI on strategic capacity building and lead to the co-ownership or co-management of businesses or projects. The letter of intent is non-binding and subject to entering into a definitive agreement within the next 90 days. TMDCI commented, \"The Torres Martinez Desert Cahuilla Indians are a phoenix rising. The Tribe's sustainable community and economic development imperatives, along with high value, high impact strategic partnership, such as the one with KORE Mining, are in place to aid and accelerate the transition, and the eventual transformation, of TMDCI into an exemplary, sustainable and generational regional engine of economic development for the Tribe and its neighbors.\"KORE's Chairman and CEO James Hynes commented, \"I look forward to working with Chairman Tortez, Jr., the TMDCI Tribal Council, and the Torres Martinez community as we strengthen our partnership and advance initiatives that benefit the community, the environment, and local stakeholders. KORE continues to see vocal and written support by local stakeholders behind the Imperial Gold Project and Project ACES. Our ground-breaking environmental standards and our...