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Triple Five Energy enters Saskatchewan with major undertakings

SASKATOON, Feb. 13 PRNewswire - Triple Five Energy, a division of Triple Five Worldwide Organization (Triple Five), today announced the signing of several major economic development agreements with seven Saskatchewan First Nations for the creation of new joint ventures in natural resource development including oil, gas and uranium exploration. Negotiations took place with the seven Chiefs and their Councils including English River First Nation, Ahtahkakoop First Nation, Moosomin First Nation, Red Pheasant First Nation, Saulteaux First Nation, Stoney Knoll First Nations and Sweetgrass First Nation.

The signing ceremony took place today at 11 a.m. at TCU Place Convention Centre in Saskatoon. In attendance were Triple Five Chairman Nader Ghermezian, several other Triple Five officials and 75 Saskatchewan chiefs attending the Federation of Saskatchewan Indian Nations.

"We are pleased to be able to enter into these agreements with Saskatchewan First Nations," said Nader Ghermezian, chairman of Triple Five headquartered in Edmonton, Alberta. "We believe that these undertakings by Triple Five will be beneficial to the more than 140,000 First Nations members in Saskatchewan and the Saskatchewan economy."

A major agreement signed calls for a joint venture between the English River First Nation (ERFN) and Triple Five for significant exploration and development of uranium on the English River territorial lands at Slush Lake, Saskatchewan, where some internationally-recognized uranium companies are currently active. ERFN anticipates the joint venture with Triple Five will result in the development of uranium resources within ERFN's Traditional Territory. They further anticipate that it will result in economic benefits necessary to assist their community needs in housing, education, post-secondary education, employment training and infrastructure. The agreement recognizes ERFN's determination to protect their interests in the land, water resources, medicine and spiritual values in their Traditional Territory.

Mr. Ghermezian added, "We are proud to be involved in a province lead by Premier Wall, a visionary and entrepreneurial premier who has encouraged and given us great confidence in the long-term economic prosperity and political stability of his Province."

"We are also very happy that we have expanded our operations from Alberta into Saskatchewan," continued Mr. Ghermezian. "We believe Saskatchewan, like Alberta, will be a global economic leader in the natural resource sector for many years to come."

Triple Five has extensive involvement in the development of natural resources in North America through Triple Five Energy as well as First Nuclear Corporation that has been active in the uranium industry for the past 30 years.

Triple Five has also signed agreements with several of the nations to provide them with a Horizon Plus Prepaid Credit Card, another division of Triple Five, replacing the former cheque system utilized by those nations to distribute funds to their members. Rather than having to issue cheques, the nations can now load a prepaid amount on a reloadable credit card and the funds will then be distributed directly to members' accounts. Consequently, the agreements have resulted in major cost savings for the nations in accounting and distribution of funds to their members.

Triple Five is also presently engaged in extensive real estate development in Saskatchewan.

About Triple Five

Triple Five's activities encompass the development, management and ownership of world-class ventures in many fields. These activities are diverse and include major shopping centres, tourist destination resorts, office buildings, engineering services, urban revitalization programs, recreation and amusement parks, hotels, casino, residential developments, commercial and industrial real estate, auto and industrial manufacturing, natural resource development (oil, gas and minerals), technology, venture capital, banking and financial services.

Triple Five is best known worldwide for the creation of its mega projects such as the world's first and second largest tourism, retail and entertainment complexes - the world-renowned West Edmonton Mall in Canada and Mall of America in the United States. These two projects attract over 60 million visitors annually, more than Disneyland, the Grand Canyon and Universal Studios combined. Triple Five develops, manages, owns and operates its worldwide enterprises with offices located throughout the world.

Additional comments from English River First Nation

Triple Five and the Chief and Council of English River First Nation (ERFN) today announced the signing of a joint venture for the exploration and development of uranium resources on the Traditional Territory of ERFN in Slush Lake, Saskatchewan. This business venture results from the initiative and foresight of former ERFN Chief Archie Campbell and Council, as well as current Chief Ralph Paul and Council.

Chief Ralph Paul and the Council of ERFN are pleased with the support of Saskatchewan Premier Brad Wall and several provincial ministers including Energy and Resources Minister Bill Boyd, First Nations and Aboriginal Affairs Minister June Draude, and Environment Ministers Nancy Heppner in the pursuit of the protection of the lands and development of resources within the Traditional Territory of ERFN.

SOURCE Triple Five

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