INDIAN RESOURCE COUNCIL AND INDIGENA DRILLING INC. SHARE DISTRIBUTION TO IRC TRUST

CALGARY, AB, Oct. 24, 2023 /CNW/ - Indigena Drilling Inc. is a Canadian private drilling company formed to invite indigenous communities to participate in equity of Oilfield Services and provide opportunities for financial returns and employment.

IRC Trust is an independent investment trust formed for the benefit of the members of Indian Resource Council of Canada ("IRC"). The Trust was established as a vehicle to capitalize on new opportunities and create meaningful economic partnerships primarily in the Energy Sector. IRC Trust is a founding partner in Indigena Drilling alongside Elson McDougald (Executive Chair), Darcy Reinboldt (CEO) and other members of the board and management team.

The Indian Resource Council (IRC) was created following the recommendations of a federal Task Force in 1987 to support First Nations to attain greater control and management of their oil and gas resources and has grown substantially to currently represent 155+ First Nations members throughout Canada. IRC members are also actively involved in renewable energy generated from solar, wind, geothermal and other sources. IRC is an advocacy and lobby organization that interfaces with all levels of government, resource organizations and private sector companies on national and international levels. The Board of Directors consists of leading Chiefs and Indigenous leaders from across Canada.

Mr. Stephen Buffalo a Trustee of IRC Trust and President & CEO of IRC stated "We take great pride in becoming one of the founding shareholders of IDI. IDI is a great opportunity for our members to be on the ground floor of a First Nations supported Energy Services Company. IDI Chairman, Elson McDougald has had a long and storied career in the Canadian drilling business and has been a true ally of Indigenous people throughout his career. We are excited with the opportunity to be aligned and in business with such exemplary people in this great company."

Elson McDougald stated, "Stephen Buffalo and the whole IRC team have become leaders in the Energy sector representing First Nations communities throughout Canada. on a wide variety of issues. The opportunity to build an exciting company with their partnership is a once in a lifetime opportunity. This presents a great opportunity for reconciliation to turn into reconcili-action and build a company that can lead the industry in operations, safety, and governance while providing additional value through First Nations partnerships.".

SOURCE Indian Resource Council