Gold'n Futures has signed an MoU with three Ontario First Nations to advance its Hercules gold project.

The agreement has been reached with Animbiigoo Zaagi'igan Anishinaabek, Bingwi Neyaashi Anishinaabek, and Biinjitiwaabik Zaaging Anishinaabek, whose traditional territories overlap with the Hercules exploration area.

The MoU sets out a communication protocol between Gold'n Futures and the First Nations groups, and outlines a pathway for the eventual exploration agreement. The MoU also comes at the end of a joint review and approval of the company's exploration permit.

As a result of this review, Gold'n Futures has received a work permit from the Ontario Ministry of Northern Development and Mines, Natural Resources and Forestry, Mineral Development Branch.

"We have also started planning our next cooperative undertakings comprising adoption of environmental, social, and governance policies," Gold'n Futures chief executive Stephen Wilkinson said.

The immediate next step is the start of negotiations between the company and the First Nations groups to execute the exploration agreement.

Gold'n Futures has begun airborne geophysical surveys on the property, and will begin its first drill program in November. The work permit lasts until 2024.