Platinex Resolution

The provincial government says it has reached a settlement with a mining company over a disputed claim in the Big Trout Lake area of northwestern Ontario.

Northern Development and Mines Minister Michael Gravelle says they will pay Platinex five million dollars in return for dropping all lawsuits againstthe crown and the Big Trout Lake First Nation.

As part of the settlement, Platinex will surrender its mining claims and leaseson its Big Trout exploration properties.

The company will also receive a potential future royalty interest on the land.

The province is also withdrawing the property around Big Trout Lake fromstaking and mineral exploration.