The provincial government has signed an economic benefits agreement with Marathon Gold Corporation for its Valentine Gold Project.

Marathon has established project offices in the province and says it will provide residents and suppliers in Newfoundland and Labrador full and fair opportunity and first consideration for employment and procurement opportunities. Government says no less than 85 per cent of the project workforce will be provincial residents. An annual average of 725 people will be employed in the operation.

In addition, Marathon will work with educational institutions on developing mining courses to help build qualifications for residents of Newfoundland and Labrador.

Construction is expected to begin later this year and when completed about two years later, it will be the largest gold mine in Atlantic Canada.

It is located 80 km southwest of Millertown in central Newfoundland.