The new protected area (PA) designation of Conservancy in British Columbia, Canada marks a positive shift in government policy concerning PAs and the role of First Nations in provincial land and resource management and conservation. We present a review of the Conservancy designation within a legal and political ecology context, and assess some of the related opportunities and challenges presented by this new designation. Our data were gathered through document, literature and legal reviews, complemented by field research observations and personal communications with key informants from the Gitga'at First Nation.