NUNAVUT - Discovery Mining Services announced Wednesday they have finalized a deal creating a new, majority Inuit-owned joint venture called Logistics and Expediting Baffin Ltd.

A camp set up by Logistics and Expediting Baffin Ltd. on Baffin Island, Nunavut. - photo courtesy of Discovery Mining Services

The company, a subsidiary of Discovery Air Inc., actually penned the deal with Lynda Gunn, a Nunavut Inuk beneficiary who will be the company's president, in June of 2010, but only announced the formation of the new company last week.

"Our first season was last year. I guess the rationale was to see how the first season would go. We wanted to take time, make sure we had things in place, and see how the business went before announcing it," said Gunn.

The logistics company will be based in Iqaluit, the transportation and logistics hub for Baffin Island and the High Arctic.

"Basically what we do is we handle any logistical or expediting that the sector might need. We hope to be able to capture a good portion of business with mineral exploration companies and groups conducting scientific studies up in the Baffin and Iqaluit areas," said Gunn. "We are basically going to Mirror what Discovery Mining Services in Yellowknife does."

"We are really excited about this venture. With exploration in the Iqaluit and Baffin area taking off, this gives us a really good foothold," said John Curran, marketing manager for Discovery Air.

Curran couldn't say how many jobs the logistics company will create – that will depend on how successful the company will be. He did, however, say it will be important that the company benefits people in the region's communities.

Andy Young, Discovery Mining Services President, is also optimistic about the prospects for the company.

"Given the level of exploration activity slated to occur on Baffin Island in the coming years, this

partnership is strategically located and gives us a physical presence in the Eastern Arctic," said Young.

Discovery Mining Services is located in Yellowknife and designs and constructs exploration camps and provides equipment rentals, logistics and expediting support across Canada.

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