The province has signed agreements with the federal government and the Sakimay (SAHK'-ih-may) and Cowessess First Nations over flood claims at Crooked Lake.
The claims were over a water control structure built on the Lake in the Qu'Appelle Valley east of Regina in the 1940s.
The Indian Claims Commission ruled in 1998 that there was no proper authorization to build the structure or to flood reserve land, which remains under water to this day.
Both First Nations ratified the agreements earlier this year, but no dollar figure has been available.
The province will send the agreements to Ottawa for approval, which the First Nations have said will take several months.