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Cumberland Resources Ltd.
Developing a Major Gold Mine in Nunavut

Cumberland Resources Ltd. (TSX: CLG; AMEX: CLG) is a mineral development and exploration company with a 100% interest in the Meadowbank gold project located in Nunavut Territory, Canada. Cumberland is positioning itself to become a mid-tier North American gold producer by advancing the Meadowbank project (100% interest) to production.

 
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LAST UPDATED:
February 22 , 2007
 
 
 
Meadowbank Hosts Canada’s Largest Pure Gold Open Pit Reserves
 

Updated feasibility study estimates gold reserves(1) (fourth quarter 2005) of 2,890,000 ounces situated within closely-spaced, near surface deposits

 
Advancing Meadowbank towards Production
  Open pit production estimated at 330,000 ounces per year with total cash costs estimated at US$201 per ounce over an 8.1 year mine life (December 2005)
    Annual production averages 400,000 ounces at US$175 per ounce in first four years
  Received positive development recommendation from Nunavut Impact Review Board
  Production decision made by Cumberland Board of Directors
  Secured at least Cdn$254 million for gold loan facility
  Closed Cdn$100 million equity financing
  Completed sale of the Meliadine gold projects for Cdn$23 million
  Received Federal approval for development
  2006 drill program outlined four distinct mineralized lenses at near surface Cannu zone
  Depending on receipt of permits and licences, operation from three, shallow open pits could commence in late 2008 or early 2009
 
Strong Financial Position
  Ended third quarter 2006 with $21.5 million in cash and cash equivalents
  No debt
   



What's New

 
   
 
 
 
Upcoming Events
   

January 29 – February 1, 2007
Mineral Exploration Roundup 2007
Visit Cumberland’s corporate booth at the Mineral Exploration Roundup 2007, “Leading the World in Exploration”. The conference is held at the Westin Bayshore Resort & Marina, Vancouver, British Columbia.

March 4 - 7, 2007
PDAC 2007 Investors Exchange

Visit Cumberland's Corporate booth at the Investors Exchange mining investment show at the Prospectors and Developers Association of Canada annual convention held at the Metro Toronto Convention Centre, Toronto, Canada.

   
 
Latest News Releases
   

Cumberland Announces Agreement with Government of Nunavut and Receipt of Nunavut Water Board Licence for Road Construction
February 22, 2007
- Cumberland Resources Ltd. is pleased to announce that it has signed an agreement with Agnico-Eagle Mines Limited (NYSE: AEM; TSX: AEM) ("Agnico-Eagle") under which Agnico-Eagle has agreed to make an all share exchange offer for all of the outstanding and fully diluted common shares of Cumberland....more

Cumberland to be Acquired by Agnico-Eagle Mines Limited
February 14, 2007
- Cumberland Resources Ltd. is pleased to announce that its wholly-owned subsidiary Meadowbank Mining Corporation ("MMC") and the Government of Nunavut ("GN") have signed a Development Partnership agreement ("DPA") with respect to Cumberland's 100% owned Meadowbank gold project located 70 kilometres north of the hamlet of Baker Lake, Nunavut....more

Cumberland Obtains Permits to Advance Road Construction to Meadowbank Gold Project, Nunavut
February 05, 2007
- Cumberland Resources Ltd. is pleased to report that the Company has obtained all land rights necessary to advance construction of the 110 kilometre all weather access road to the Company's 100% owned Meadowbank gold porject located 70 kilometres north of Baker Lake, Nunavut....more

Cumberland Reports on 2006 Drill Results at Jennings Project, Yukon: A New Molybdenum-Tungsten Project
January 31, 2007
- Cumberland Resources Ltd. and North American Tungsten Corporation Ltd. (TSX-V NTC) are please to report results from the 2006 exploration program at the Company's new Jennings molybdnum-tungsten project located in southeast Yukon, an area which hosts several world class tungsten-molybdenum deposits....more

Cumberland Completes Cannu Gold Resource Estimate, Plans for New Reserces and Continued Exploration in 2007 at Meadowbank Gold Project
January 17, 2007 -
Cumberland Resources Ltd. is please to report that the 2006 drill program at the Company's 100% owned Meadowbank gold project has been successful in readying gold resources for reserve definition at the Cannu zone, a potentially open pittable high-grade zone of mineralization discovered in 2005....more

Cumberland Receives Project Certificate for Meadowbank Gold Project: Next Milestone is Start of Road Construction
January 04, 2007 -
Cumberland Resources Ltd. is please to announce that it has received a Project Certificate from the Nunavut Impact Review Board ("NIRB") for development of the Company's 100% owned Meadowbank gold project located 70 kilometres north of the hamlet of Baker Lake, Nunavut....more

 

 

 

 




Corporate Goal | Meadowbank | Reserves & Resources | News Releases | Contact

 
  Cumberland Resources Ltd.
Suite 950 - One Bentall Centre, 505 Burrard Street, Box 72, Vancouver, BC Canada V7X 1M4
Tel: 604-608-2557 Fax: 604-608-2559 Email: info@cumberlandresources.com