The return of Coutu Gold Mines Ltd.?

NEWS RELEASE

DAVID ORAZIETTI, MPP

****************************
Orazietti announces the proposed revival of Coutu Gold Mines Ltd.

Local company works to resume mining and exploration plans

QUEEN'S PARK - Today, at the provincial legislature David Orazietti, MPP for Sault Ste. Marie sponsored legislation that passed in the Standing Committee on Regulations and Private Bills that is proposing to revive a local company called Coutu Gold Mines Ltd., so it can resume its mining and exploration business in Northern Ontario.

“I am pleased to help support the re-establishment of a business in Northern Ontario that has the potential to contribute to the local economy,” said Orazietti. “Ontario leads all Canadian jurisdictions in mineral exploration and it is important that we continue to encourage responsible investments that will further develop this sector and create jobs in Sault Ste. Marie and Algoma.”

Coutu Gold Mine Ltd. was first incorporated and received a Mining Charter in 1958.

The Company dissolved in the 1970s but brothers Peter and Pat Coutu are hoping to continue their father’s work and regain control of the mining claims but in order to do so Coutu Gold Mine Ltd. first needs to be revived as a corporation, which can only be accomplished by an act of the Ontario legislature.

“We are excited at the opportunity to revive our father’s company and resume business operations in Northern Ontario,” said Peter Coutu. “David Orazietti has been very supportive of our efforts to revive Coutu Gold Mines and we are encouraged that our private bill passed committee today and will return for second and third reading in the Legislature.”

Unlike Public Bills, which pertain to matters of public policy and are initiated by Cabinet Ministers or MPP Private Members Bills, Private Bills pertain to special powers or exemptions from the general law and originate with a municipality, company or individual which seeks the special power or exemption.

Although the Standing Orders of the Legislative Assembly state that any person, group, or corporation may apply for a Private Bill, the Bill must be introduced in the Legislative Assembly by a MPP.

Usually, the applicant asks his or her Member of Provincial Parliament to introduce the Bill, or, in the case of a corporation, the Member for the riding in which the head office is located.

****************************