Press Releases
U.S. Forest Service Sets Final Stage of Permitting for Stibnite Gold Project
Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) today announced that the United States Forest Service has updated the National Environmental Policy Act permitting schedule for the Stibnite Gold Project with a Final Environmental Impact Statement and draft Record of Decision expected by the end of 2023 and a final Record of Decision anticipated in early 2024.
Schedule Update Shows Project On Track for Final Environmental Impact Statement and Draft Record of Decision by Year-End 2023
United States Department of Defense Funding Supports Perpetua’s Work Toward a Final Record of Decision
Recent Achievements and Permitting Timeline Strengthen Project’s Strategic Value to U.S. Critical Mineral Development
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or the “Company”) today announced that the United States Forest Service (“USFS”) has updated the National Environmental Policy Act (“NEPA”) permitting schedule for the Stibnite Gold Project (“Project”) with a Final Environmental Impact Statement (“FEIS”) and draft Record of Decision (“DROD”) expected by the end of 2023 and a final Record of Decision (“ROD”) anticipated in early 2024.
“We are pleased to have reached this critical juncture, which provides clarity on the path and timeline to a Final EIS and Draft Record of Decision after a successful comment period on our improved project plan and the U.S. Forest Service identifying our project as the Preferred Alternative," said Laurel Sayer, President & CEO of Perpetua Resources. “Recognizing the critical role of domestic antimony to national security, our eyes are firmly set on these key milestones and our readiness to develop the Stibnite Gold Project as a national strategic asset and opportunity to restore this abandoned site.”
In January 2023, the U.S. Forest Service completed a 75-day public comment period on the Supplemental Draft Environmental Impact Statement (“SDEIS”). The SDEIS identified Perpetua’s Modified Mine Plan as the Preferred Alternative and concluded that the plan provides a net increase in available fish habitat, greatly reduces the volume and duration of long-term water treatment required, provides measurable improvements to existing water quality conditions, and improves stream temperatures across the majority of the abandoned mine site as compared to the earlier project design. Under NEPA, a “Preferred Alternative” is identified by a federal agency in a Draft Environmental Impact Statement to let the public know which action the agency is leaning toward selecting as final.
To finalize the FEIS and DROD by the end of 2023, the U.S. Forest Service is preparing responses to the letters received on the SDEIS and coordinating with state and federal agencies to conclude remaining environmental modeling and impact analysis. Once published, the FEIS and DROD will reflect seven years of inter-agency NEPA analysis which includes 195 days of formal public review and comment, over 29,000 public letters, and analysis for 6 action alternatives. During these seven years, Perpetua has demonstrated unwavering dedication to engaging the community and other stakeholders in the process and plans, including independently hosting 79 webinars, 64 office hours, and 760 sessions with the public to gather feedback, make improvements, and answer questions on the Project.
Perpetua’s work toward a final Record of Decision in early 2024 is supported with funding received through the U.S. Department of Defense from a Defense Production Act (“DPA”) Title III award of up-to $24.8 million directed by the Department of Defense to ensure the timely development of a domestic source of antimony trisulfide for the production of small arms, medium caliber cartridges and many other missile and munition items. Antimony from the Stibnite Gold Project is the sole domestic geologic reserve of antimony that can meet Department of Defense requirements.
The Stibnite Gold Project is designed to responsibly redevelop and restore an abandoned mine site as a world-class gold mine and only domestic mined source of antimony while contributing to the economic success of Idaho.
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
Mckinsey Lyon
Vice President External Affairs
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. Perpetua Resources has received up to $24.8 million in Defense Production Act Title III funding to advance construction readiness and permitting of the Project. Antimony trisulfide from Stibnite is the only known domestic source of antimony that can meet U.S. defense needs for many small arms, munitions, and missile types. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information and Cautionary Note
Investors should be aware that the publication of the SDEIS and the permitting schedule, and the identification by the USFS of the Modified Mine Plan as the Preferred Alternative in the SDEIS, does not indicate any commitments on the part of the USFS with regard to the content or timing of a final decision. In developing the Final Environmental Impact Statement ("FEIS"), the next phase of the NEPA planning process, the USFS may select various actions based on the Modified Mine Plan or each of the alternatives analyzed in the SDEIS. Furthermore, the USFS is not bound by the permitting schedule and anticipated milestones may be delayed materially or not be satisfied. In addition, statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including environmental clean up actions by us and our contractors; our ability to comply with and obtain permits related to the Stibnite Gold Project; actions to be taken by the USFS, the State of Idaho and other government agencies and regulatory bodies; the timing of updates from the USFS related to the Stibnite Gold Project, including with respect to the FEIS, DROD and ROD; predictions regarding improvements to water quality, water temperature, and fish habitats and other environmental conditions at the site, including with respect to process and timing of such improvements; reduction of the Project footprint and the anticipated benefits and other effects thereof; our ability to successfully implement the Project and the occurrence of the expected benefits from the Project, including contributions to the workforce, national security and clean energy transition; our and Ambri Inc.'s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", "expect" "plan", "likely", "believe", "intend", "forecast", "project", "estimate", "potential", "could", "may", "will", "would" or "should". In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, assumptions that the current exploration, development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner and that permitting and operations costs will not materially increase; the review process under the NEPA (including any joint review process involving the USFS, the State of Idaho and other agencies and regulatory bodies) as well as the FEIS will proceed in a timely manner and as expected; that we will be able to obtain sufficient funding to finance permitting, pre-construction and construction of the Project and that all requisite information will be available in a timely manner. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among other things, changes in laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may result in unforeseen results in the permitting process; uncertainty surrounding input to be received from regulators and community stakeholders; risks related to dependence on key personnel; risks related to unforeseen delays in the review process including availability of personnel from the USFS, State of Idaho and other stated, federal and local agencies and regulatory bodies (including, but not limited to, future US government shutdowns); risks related to opposition to the Project; risks related to increased or unexpected costs in operations or the permitting process; risks that necessary financing will be unavailable when needed on acceptable terms, or at all; risks related to the outcome of litigation and potential for delay of the Project, as well as those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the "SEC") and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company's business, see the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's filings with the SEC, including Perpetua’s Annual Report on Form 10-K filed with the SEC on March 16, 2023, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Perpetua Resources Announces Full Year 2022 Highlights
Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) announced today that its Annual Report on Form 10-K for the year ended December 31, 2022, which includes its audited consolidated financial results for the period ended December 31, 2022, was filed. For details, please see the Company’s filings available on EDGAR and SEDAR.
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or the “Company”) announced today that its Annual Report on Form 10-K for the year ended December 31, 2022 (the “Annual Report”), which includes its audited consolidated financial results for the period ended December 31, 2022, was filed. For details, please see the Company’s filings available on EDGAR and SEDAR.
Perpetua Resources’ vision is to provide the U.S. with a domestic source of the critical mineral antimony, develop one of the largest and highest-grade open pit gold mines in the country and restore an abandoned brownfield site. Perpetua Resources is focused on advancing the permitting for the Stibnite Gold Project (“Project”) through the National Environmental Policy Act (“NEPA”) process.
Full Year 2022 Highlights:
Zero lost time incidents or reportable environmental spills
Awarded up to $200,000 in United States Department of Defense funding to study antimony from the Stibnite Gold Project
United States Forest Service (“USFS”) published the Supplemental Draft Environmental Impact Statement which identified Perpetua Resources’ proposed action as the Preferred Alternative (as defined below)
Awarded a Technology Investment Agreement (“TIA”) of up to $24.8 million under Title III of the Defense Production Act (“DPA”)
Completed summer field program including stream diversion activities and the removal of the Defense Minerals Exploration Administration legacy waste rock dump from within and along a tributary to the East Fork of the South Fork of the Salmon River
Continued productive mediation discussions with the Nez Perce Tribe
Received the Clean Air Act Permit to Construct from the Idaho Department of Environmental Quality
Strengthened the Board of Directors with appointment of Laura Dove who brings three decades of external affairs and stakeholder management experience to Perpetua
Welcomed value-oriented Kopernik as a new shareholder
Awarded contract for stream diversion work as part of Phase 1 early cleanup activities
Published 2021 Sustainability Report, the Company’s ninth annual sustainability report
Launched Sustainability Roadmap which outlines 13 goals to guide the Company as it advances the Stibnite Gold Project
Promoted Jessica Largent to CFO and further strengthened team with hiring of Chris Fogg as Manager of Investor Relations
“Perpetua Resources finished 2022 on strong footing with enhanced attention on our antimony as a critical defense material, permitting progress, and real action to improve environmental conditions at Stibnite,” said Laurel Sayer, President and CEO of Perpetua Resources. “We received multiple funding grants through the Department of Defense to study production of military-grade antimony trisulfide, continue through the permitting process, and advance construction readiness for our project. We also strengthened our team and completed early restoration activities to improve water quality during the 2022 field season. I am incredibly proud of our team and recent accomplishments and look forward to continued success in 2023 and beyond.”
Permitting Update:
On October 28, 2022, the Company announced the USFS released the Supplemental Draft Environmental Impact Statement on the Stibnite Gold Project for public comment and has identified Perpetua’s proposed action, the “Modified Mine Plan,” as the Preferred Alternative. The USFS also concluded the Preferred Alternative would reasonably accomplish the purpose and need for consideration of approval of the Stibnite Gold Project, while giving consideration to environmental, economic, and technical factors.
Under NEPA, a “Preferred Alternative” is identified by a federal agency in a Draft Environmental Impact Statement to let the public know which action the agency is leaning toward selecting as final. Selection of the Preferred Alternative by the USFS is a major milestone in the advancement of the Project and provides clarity for the remainder of the NEPA process.
The SDEIS public review period closed on January 10, 2023. Now that the comment period is complete and analysis is underway, Perpetua expects the USFS to provide a schedule update in the second quarter of 2023, including the expected timing for a final Record of Decision.
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
Mckinsey Lyon
Vice President External Affairs
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information and Cautionary Note
Investors should be aware that the publication of the SDEIS and the identification by the USFS of the Modified Mine Plan as the Preferred Alternative does not indicate any commitments on the part of the USFS with regard to a final decision. In developing the Final Environmental Impact Statement ("FEIS"), the next phase of the NEPA planning process, the USFS may select various actions based on the Modified Mine Plan or each of the alternatives analyzed in the SDEIS. In addition, statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including environmental clean up actions by us and our contractors; our ability to comply with and obtain permits related to the Stibnite Gold Project; actions to be taken by the USFS, the State of Idaho and other government agencies and regulatory bodies; the timing of updates from the USFS related to the Stibnite Gold Project; predictions regarding improvements to water quality, water temperature, and fish habitats and other environmental conditions at the site, including with respect to process and timing of such improvements; reduction of the Project footprint and the anticipated benefits and other effects thereof; our ability to successfully implement the Project and the occurrence of the expected benefits from the Project, including contributions to the workforce, national security and clean energy transition; our and Ambri Inc.'s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", "expect" "plan", "likely", "believe", "intend", "forecast", "project", "estimate", "potential", "could", "may", "will", "would" or "should". In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, assumptions that the current exploration, development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its other corporate activities will proceed as expected; that the review process under the NEPA (including any joint review process involving the USFS, the State of Idaho and other agencies and regulatory bodies) will proceed in a timely manner and as expected; that we will be able to obtain sufficient funding to finance permitting, pre-construction and construction of the Project and that all requisite information will be available in a timely manner. Forward-Looking Information are based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include changes in laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may result in unforeseen results in the permitting process; uncertainty surrounding input to be received from regulators and community stakeholders; risks related to dependence on key personnel; risks related to unforeseen delays in the review process including availability of personnel from the USFS, State of Idaho and other stated, federal and local agencies and regulatory bodies (including, but not limited to, future US government shutdowns); risks related to opposition to the Project; risks related to increased or unexpected costs in operations or the permitting process; risks that necessary financing will be unavailable when needed on acceptable terms, or at all; risks related to the outcome of litigation and potential for delay of the Project, as well as those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the "SEC") and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company's business, see the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's filings with the SEC, including the Annual Report, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
U.S. Forest Service Comment Period Closes for Proposed Stibnite Gold Project with Strong Public Support
Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) announced today the 75-day comment period on the Supplemental Draft Environmental Impact Statement (“SDEIS”) for the Stibnite Gold Project (“Project”) concluded with more than 15,000 letters submitted in support of the Project. This marks a major milestone in the permitting process and moves the Company one step closer to a Final Environmental Impact Statement (“FEIS”) and Record of Decision on the Project.
More than 15,000 positive comments received on Supplemental Draft Environmental Impact Statement over 75-day comment period.
Conclusion of the comment period marks a major milestone in the permitting process.
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or the “Company”) announced today the 75-day comment period on the Supplemental Draft Environmental Impact Statement (“SDEIS”) for the Stibnite Gold Project (“Project”) concluded with more than 15,000 letters submitted in support of the Project. This marks a major milestone in the permitting process and moves the Company one step closer to a Final Environmental Impact Statement (“FEIS”) and Record of Decision on the Project.
“The Stibnite Gold Project can secure the only domestic antimony reserve to protect our national security and support America’s clean energy transition, restore an abandoned mine site and provide hundreds of well-paying jobs to Idahoans. Today, we are proud to say we are one step closer to making all these benefits a reality,” said Laurel Sayer, President and CEO of Perpetua Resources. “The momentum and support behind our project grows stronger every day. We are grateful to the thousands of people who took the time to participate in this comment period. Letters came in from the Idahoans who live closest to the site, our vendors, recreational groups, lawmakers, veterans and more. While the reasons you support our project are unique, collectively you delivered one clear message. It is time to move the Stibnite Gold Project forward.”
When the comment period closed on January 10, 2023, there were over 18,000 comments in the United States Forest Service (“USFS”) public letter portal, the majority of those were in support of the project. The high level of participation in the comment period shows the interest in Perpetua Resources’ improved Modified Mine Plan, which the USFS identified as the Preferred Alternative because of its improved water quality, reduction in water temperature and ability to mitigate transportation impacts by utilizing the Burntlog access route to site.
All of the comments submitted can be read in the USFS public reading room, found here: https://cara.fs2c.usda.gov/Public//ReadingRoom?Project=50516. Below are a handful of letters, showcasing the Project’s widespread support:
Willie Sullivan, Yellow Pine resident: “I have been closely following Perpetua Resources’ plans since they first came into our state, in large part because some of the proposed project will take place on public land and I am a resident of Yellow Pine, Idaho which is the closest community to the Stibnite Mine… It was our group that came up with the proposed Burntlog route that we feel would serve the mine, Village, and the environment best. Our process led to a larger advisory group which continues to function. I find Perpetua to be a company that honors its commitments and truly hopes to do the right thing for those effected by their project.”
Terry Williams, President T & J Enterprises: “Perpetua’s plan to restore the Stibnite site while creating hundreds of jobs for local communities should be approved immediately. As a small business in a small rural community, much like those in Valley County, Idaho, we understand the challenges facing working families these days…The Stibnite Gold Project would bring hundreds of these high-paying jobs to the area and help hard working men and women support their families, buy houses, and save for the future.”
Robert Workman, Cougar Mountain Snowmobile Club: “It is our sense that the Modified Mine Plan - is the best path forward for Idaho. The area surrounding the historical Stibnite mining district is a major draw for snowmobilers from across Idaho. As such, one of our top priorities-along with restoration of the site-is to ensure that access for all recreational groups and individuals continues throughout this project. Thanks to Perpetua's commitment to transparency and willingness to work with the community, we are confident that those priorities will be met.”
Cecilia Tyler, Retired U.S. Army Colonel: “I could write volumes about why you should approve their application but I want to focus on one aspect – antimony. The Federal Government has identified antimony as a strategic mineral. Antimony is not mined anywhere in the United States but will be if Perpetua’s application is approved. Antimony is needed for Information Technology products, weapons systems, medical uses, a component of mobile phones, and countless other uses. Antimony is critical to our national security.”
The USFS will now review the comments and finalize a schedule for the remainder of the NEPA process. The Company continues to anticipate a FEIS and draft Record of Decision in mid-2023 based on the last schedule published by the USFS.
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
Mckinsey Lyon
Vice President External Affairs
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information and Cautionary Note
Investors should be aware that the publication of the SDEIS and the identification by the USFS of the Modified Mine Plan as the Preferred Alternative does not indicate any commitments on the part of the USFS with regard to a final decision. In developing the Final Environmental Impact Statement (“FEIS”), the next phase of the NEPA planning process, the USFS may select various actions based on the Modified Mine Plan or each of the alternatives analyzed in the SDEIS. Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including actions to be taken by the USFS, the State of Idaho and other government agencies and regulatory bodies; plans with respect to the issuance of an FEIS; the consideration of difference access routes; the anticipated timing for release of the FEIS, draft ROD and final ROD; predictions regarding improvements to water quality and other environmental conditions at the site; reduction of the Project footprint and the anticipated benefits and other effects thereof; our and Ambri, Inc.’s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", “expect” “plan”, “likely”, “believe”, “intend”, “forecast”, “project”, “estimate”, "potential", "could", "may", "will", "would" or “should”. In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, assumptions that the current exploration, development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner and that permitting and operations costs will not materially increase; that the review process under the NEPA (including any joint review process involving the USFS, the State of Idaho and other agencies and regulatory bodies) as well as the FEIS will proceed in a timely manner and as expected; and that all requisite information will be available in a timely manner. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, changes in laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may result in unforeseen results in the permitting process; uncertainty surrounding input to be received from regulators and community stakeholders; risks related to dependence on key personnel; risks related to unforeseen delays in the review process including availability of personnel from the USFS, State of Idaho and other stated, federal and local agencies and regulatory bodies (including, but not limited to, future US government shutdowns); risks related to opposition to the Project; risks related to increased or unexpected costs in operations or the permitting process; risks that estimates used in budgeting and financial statements may prove to be incorrect; risks related to the outcome of litigation and potential for delay of the Project, as well as those factors discussed in Perpetua Resources' public disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company’s business, see the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s filings with the SEC, are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Perpetua Resources Receives critical minerals award of up to $24.8 million under the defense production act
Perpetua Resources Corp. announced today that its wholly owned subsidiary, Perpetua Resources Idaho, Inc. (collectively, “Perpetua Resources” or “Perpetua” or the “Company”), was awarded a Technology Investment Agreement of up to $24.8 million under Title III of the Defense Production Act (“DPA”).
Perpetua receives Defense Production Act Title III funding to advance construction readiness, environmental baseline monitoring and environmental studies as the Stibnite Gold Project continues through the permitting process
Stibnite Gold Project is poised to be the only domestically mined source of the critical mineral antimony, which is essential for national defense
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) announced today that its wholly owned subsidiary, Perpetua Resources Idaho, Inc. (collectively, “Perpetua Resources” or “Perpetua” or the “Company”), was awarded a Technology Investment Agreement of up to $24.8 million under Title III of the Defense Production Act (“DPA”). The funding objective of the Technology Investment Agreement, issued by the Air Force Research Laboratory, is to complete environmental and engineering studies necessary to obtain a Final Environmental Impact Statement, a Final Record of Decision, and other ancillary permits to sustain the domestic production of antimony trisulfide capability for defense energetic materials.
Antimony trisulfide is essential to national defense as a key component for munitions yet there is no U.S. mined supply. Perpetua plans to re-establish a domestic supply of the critical mineral antimony as a by-product of one of the highest-grade open pit gold resources in the United States. The DPA funding allows the Company to advance the construction readiness of the Stibnite Gold Project while the Company continues through the ongoing permitting process, led by the United States Forest Service (“USFS”).
Under the funding agreement, Perpetua may request reimbursement for certain costs incurred over 24 months related to environmental baseline data monitoring, environmental and technical studies and other activities related to advancing Perpetua’s construction readiness and permitting process for the Stibnite Gold Project. The DPA funding does not interrupt the ongoing National Environmental Policy Act (“NEPA”) review process. The DPA award is separate from the previously announced Small Business Innovation Research Phase 1 funding awarded to Perpetua by the Defense Logistics Agency in September 2022.
“As Perpetua continues advancing our project through the permitting process, we are honored to enter this agreement to help advance our construction readiness for future development,” said Laurel Sayer, President and CEO of Perpetua Resources. “Our vision remains unchanged, which is to redevelop a world class gold deposit, provide the country with a critical mineral, and restore an abandoned brownfield site. Today, we continue to build momentum towards turning our vision into a reality.”
Perpetua’s proposed Stibnite Gold Project, located in central Idaho, is in the sixth year of review under NEPA. The project is designed to restore environmental conditions in the historic Stibnite mining district while responsibly redeveloping one of the highest-grade open pit gold resources in the U.S. and becoming the only domestically mined source of the critical mineral antimony.
Perpetua expects that current cash resources, combined with the full DPA agreement, would provide the Company with sufficient liquidity to complete permitting and early restoration activities on the current timeline as well as additional liquidity to begin advancing construction readiness.
“The Department’s DPA Investments Program is delivering on its core mission to restore domestic industrial capabilities essential to the national defense by enabling the warfighter,” said Halimah Najieb-Locke, Deputy Assistant Secretary of Defense for Industrial Base Resilience. “This action reinforces the Administration’s goals to increase the resilience of our critical mineral supply chains while deterring adversarial aggression.”
About the Department of Defense’s Defense Production Act Title III Program:
The Defense Production Act (the “DPA”) is intended to ensure that America has the resources, materials and technologies needed for national security. The DPA Title III program is dedicated to ensuring the timely availability of essential domestic industrial resources to support national defense and homeland security requirements now and in the future.
In order to qualify for funding opportunities under the DPA Title III, proposed projects must meet the following criteria:
The industrial resource, material, or critical technology item is essential to the national defense
Without Presidential action, United States industry cannot reasonably be expected to provide the capability for the needed industrial resource, material, or critical technology item in a timely manner
Purchases, purchase commitments, or other action pursuant to the DPA are the most cost effective, expedient, and practical alternative method for meeting the need
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
Mckinsey Lyon
Vice President External Affairs
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information and Cautionary Note
Investors should be aware that full funding under the DPA Technology Investment Agreement is subject to negotiation of a definitized agreement with the Department of Defense. Until the agreement is definitized, the maximum funding available is capped at 75% of the not to exceed agreement of $24.8 million. While Perpetua expects to enter into a definitized agreement in the first half of 2023, there is no assurance that we will be able to finalize the definitized agreement on the expected timeline or at all. Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding ongoing funding and anticipated liquidity; our ability to comply with and obtain permits related to the Stibnite Gold Project (“Project”); actions to be taken by the Department of Defense, USFS, the State of Idaho and other government agencies and regulatory bodies; negotiation of the definitized agreement and anticipated approval of reimbursement requests; our ability to successfully implement and fund the Project and the occurrence of the expected benefits from the Project; our and Ambri Inc.'s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", "expect" "plan", "likely", "believe", "intend", "forecast", "project", "estimate", "potential", "could", "may", "will", "would" or "should". In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, assumptions that we will successfully negotiate a definitized agreement and that the full amount of the DPA award will be funded on the expected timeline; that the current exploration, development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its other corporate activities will proceed as expected; that the review process under the NEPA (including any joint review process involving the USFS, the State of Idaho and other agencies and regulatory bodies) as well as the public review process and SDEIS will proceed in a timely manner and as expected; that we will be able to obtain sufficient funding to finance permitting, pre-construction and construction of the Project and that all requisite information will be available in a timely manner. Forward-Looking Information are based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include changes in laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may result in unforeseen results in the permitting process; uncertainty surrounding input to be received from regulators and community stakeholders; risks related to dependence on key personnel; risks related to unforeseen delays in the review process including availability of personnel from the USFS, State of Idaho and other stated, federal and local agencies and regulatory bodies (including, but not limited to, future US government shutdowns); risks related to opposition to the Project; risks related to increased or unexpected costs in operations or the permitting process; risks that necessary financing will be unavailable when needed on acceptable terms, or at all; risks related to the outcome of litigation and potential for delay of the Project, as well as those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the "SEC") and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company's business, see the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's filings with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Perpetua Resources Announces Third Quarter 2022 Highlights
Perpetua Resources Corp. announced today that its unaudited condensed consolidated financial results for the period ended September 30, 2022 were filed. For details, please see the Company’s filings available on EDGAR and SEDAR.
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or the “Company”) announced today that its unaudited condensed consolidated financial results for the period ended September 30, 2022 were filed. For details, please see the Company’s filings available on EDGAR and SEDAR.
Perpetua Resources’ vision is to provide the U.S. with a domestic source of the critical mineral antimony, develop one of the largest and highest-grade open pit gold mines in the country and restore an abandoned brownfield site. Perpetua Resources is focused on advancing the permitting for the Stibnite Gold Project (“Project”) through the National Environmental Policy Act (“NEPA”) process.
Third Quarter 2022 and Recent Highlights:
Zero lost time incidents or reportable environmental spills in the third quarter of 2022
Completed summer field program including stream diversion activities and the removal of the Defense Minerals Exploration Administration legacy waste rock dump from within and along a tributary to the East Fork of the South Fork of the Salmon River
Continued productive mediation discussions with the Nez Perce Tribe; an extension to the stay on the Clean Water Act matter was recently granted through January 31, 2023
Awarded Department of Defense funding to study antimony from Stibnite Gold Project
Announced the United States Forest Service (“USFS”) published the Supplemental Draft Environmental Impact Statement (“SDEIS”) which identified Perpetua Resources’ proposed action as the Preferred Alternative
“Perpetua Resources continued to advance our project through the permitting process, completed initial stream diversion activities contributing to water quality improvements at site, and progressed productive mediation discussions with the Nez Perce Tribe,” said Laurel Sayer, President and CEO of Perpetua Resources. “We are excited to have received two funding grants from the Department of Defense to study production of military-grade antimony trisulfide and that our improved project is now available for public review.”
Permitting Update:
On October 28, 2022, the Company announced the USFS released the Supplemental Draft Environmental Impact Statement on the Stibnite Gold Project for public comment and has identified Perpetua’s proposed action, the “Modified Mine Plan,” as the Preferred Alternative. The USFS also concluded the Preferred Alternative would reasonably accomplish the purpose and need for consideration of approval of the Stibnite Gold Project, while giving consideration to environmental, economic, and technical factors.
Under NEPA, a “Preferred Alternative” is identified by a Federal agency in a Draft Environmental Impact Statement to let the public know which action the agency is leaning toward selecting as final. Selection of the Preferred Alternative by the USFS is a major milestone in the advancement of the Project and provides clarity for the remainder of the NEPA process.
The SDEIS public review period is set at 75 days, expiring on January 10, 2023 unless extended. Following completion of the comment period and analysis, the Company expects the USFS to provide a schedule update including the expected timing to a Final Environmental Impact Statement (“FEIS”) and draft Record of Decision and to a final Record of Decision.
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
Mckinsey Lyon
Vice President External Affairs
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information
Investors should be aware that the publication of the SDEIS and the identification by the USFS of the Modified Mine Plan as the Preferred Alternative does not indicate any commitments on the part of the USFS with regard to a final decision. In developing the Final Environmental Impact Statement ("FEIS"), the next phase of the NEPA planning process, the USFS may select various actions based on the Modified Mine Plan or each of the alternatives analyzed in the SDEIS. The SDEIS is subject to review and comment by the public through the public review period, which may be extended by the USFS in its sole discretion. In addition, statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including environmental clean up actions by us and our contractors; our ability to comply with and obtain permits related to the Stibnite Gold Project; actions to be taken by the USFS, the State of Idaho and other government agencies and regulatory bodies; the timing of the public review period; predictions regarding improvements to water quality, water temperature, and fish habitats and other environmental conditions at the site, including with respect to process and timing of such improvements; reduction of the Project footprint and the anticipated benefits and other effects thereof; our ability to successfully implement the Project and the occurrence of the expected benefits from the Project, including contributions to the workforce, national security and clean energy transition; our and Ambri Inc.'s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", "expect" "plan", "likely", "believe", "intend", "forecast", "project", "estimate", "potential", "could", "may", "will", "would" or "should". In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, assumptions that the current exploration, development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its other corporate activities will proceed as expected; that the review process under the NEPA (including any joint review process involving the USFS, the State of Idaho and other agencies and regulatory bodies) as well as the public review process and SDEIS will proceed in a timely manner and as expected; that we will be able to obtain sufficient funding to finance permitting, pre-construction and construction of the Project and that all requisite information will be available in a timely manner. Forward-Looking Information are based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include changes in laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may result in unforeseen results in the permitting process; uncertainty surrounding input to be received from regulators and community stakeholders; risks related to dependence on key personnel; risks related to unforeseen delays in the review process including availability of personnel from the USFS, State of Idaho and other stated, federal and local agencies and regulatory bodies (including, but not limited to, future US government shutdowns); risks related to opposition to the Project; risks related to increased or unexpected costs in operations or the permitting process; risks that necessary financing will be unavailable when needed on acceptable terms, or at all; risks related to the outcome of litigation and potential for delay of the Project, as well as those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the "SEC") and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company's business, see the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's filings with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Perpetua Resources Announces Supplemental Draft EIS Highlights Positive Environmental Outcomes
Perpetua Resources Corp. announced today that the Supplemental Draft Environmental Impact Statement published by the United States Forest Service on October 28, 2022 highlights the net positive environmental outcomes that the Stibnite Gold Project can provide to the abandoned mine site based on the results of comprehensive scientific analysis conducted by the USFS over the last six years.
Perpetua’s Modified Mine Plan identified as Preferred Alternative due to improvements in water quality and temperature and site access benefits.
Modified Mine Plan expected to deliver net environmental benefits based on the comprehensive scientific analysis mandated by the National Environmental Policy Act.
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or “the Company”) announced today that the Supplemental Draft Environmental Impact Statement (“SDEIS”) published by the United States Forest Service (“USFS”) on October 28, 2022 highlights the net positive environmental outcomes that the Stibnite Gold Project (“Project”) can provide to the abandoned mine site based on the results of comprehensive scientific analysis conducted by the USFS over the last six years. The USFS identified Perpetua Resources’ proposed action, the “Modified Mine Plan,” as the Preferred Alternative because the Modified Mine Plan:
Incorporates water management and closure activities to reduce the duration of long-term water treatment requirements,
Includes measures to manage stream temperatures, and
Reduces potential impacts associated with access, transportation and hazardous materials on alternative access routes to the project site.
The USFS also concluded the Preferred Alternative would reasonably accomplish the purpose and need for consideration of approval of the Stibnite Gold Project, while giving consideration to environmental, economic, and technical factors. Under the National Environmental Policy Act (“NEPA”), a “Preferred Alternative” is identified by a Federal agency in a Draft Environmental Impact Statement (“DEIS”) to let the public know which action the agency is leaning toward selecting as final.
“We are proud that the USFS recognizes Perpetua’s diligent efforts to improve environmental outcomes for the historic mining area through the redevelopment of the Stibnite Gold Project,” said Laurel Sayer, President and CEO of Perpetua Resources. “We designed our Project to improve river habitat and water quality. The feedback we have heard from our stakeholders, through the NEPA process and public engagement, has helped us enhance our plan and we are pleased to see the USFS highlighted some of these improvements in the SDEIS.”
The SDEIS compares the environmental impacts of the Modified Mine Plan to leaving the project site as it is today (“baseline conditions”). In identifying the Modified Mine Plan as the Preferred Alternative, the SDEIS articulates several specific ways that the Modified Mine Plan is expected to improve environmental conditions in certain key areas relative to the baseline conditions, including improving water quality, mitigating effects on water temperature, and increasing access to habitat for fish. Several of these conclusions from the SDEIS are summarized below.
Modified Mine Plan Increases Access to Fish Habitat Relative to Baseline Conditions:
Net increase in available fish habitat both during operations and following closure and reclamation, including an estimated increase in critical habitat available to Chinook salmon and bull trout by over 19 km and to steelhead by over 8 km
Net increase in suitable rearing habitat for steelhead and improved thermal suitability of newly accessible habitat for Chinook salmon resulting from improved water temperatures in the East Fork South Fork Salmon River
Permanent, regional, and beneficial effect on Chinook salmon, steelhead, bull trout and westslope cutthroat trout within the vicinity of the mine driven by the removal of fish barriers and planned restoration activities
Increased habitat available for potential occupancy and increased occupancy probability for bull trout and westslope cutthroat trout following completion of restoration activities including construction of the Stibnite Lake; however, there are net impacts to bull trout critical habitat projected from operations and the post-closure configuration of the Tailings Storage Facility (“TSF”)
Long-term and beneficial effect on fish resulting from reduced contaminant concentrations in the East Fork South Fork of the Salmon River downstream from the Project site – approximately 40% reduction in arsenic and 58% reduction in antimony in surface water
Modified Mine Plan Improves Water Quality and Mitigates Effects on Water Temperature Relative to Baseline Conditions:
Greatly reduced the volume and duration of long-term water treatment due to the adoption of a refined, comprehensive water management plan, and updated closure strategy incorporating engineered cover systems over the TSF, and backfilled Yellow Pine and Hangar Flats pits which improve surface water quality
Improvements in stream temperatures across the majority of the site including significant temperature reductions in Meadow Creek below East Fork Meadow Creek and overall reduced temperatures in the East Fork South Fork Salmon River relative to baseline conditions due to enhanced riparian planting prescriptions, incorporation of temperature buffering lake feature, and piping of Meadow Creek summer low flow around the TSF during operations
Temperature increases of up to 6.6OC are predicted in upper Meadow Creek above East Fork Meadow Creek following restoration of the stream across the TSF and prior to establishment of riparian vegetation, but summer maximum temperatures are expected to drop to one degree below baseline conditions once riparian vegetation is fully mature
“Perpetua Resources has always been committed to modern, responsible mining practices,” said Deb Filler, Yellow Pine resident. “Today, the East Fork South Fork of the Salmon River is polluted from mining wastes left in Meadow Creek. Perpetua’s plan will improve water quality in our backyard, restore fish passage that has been blocked for decades, and create hundreds of jobs for local residents while producing a critical mineral our country needs.”
The extensive scientific analysis by the USFS and cooperating agencies, combined with the additional public review of the SDEIS, fortify the rigorous environmental review process mandated by NEPA. Identification of the Modified Mine Plan as the Preferred Alternative by the USFS is a major milestone in the advancement of the Project and provides clarity for the remainder of the NEPA process. The Company anticipates that the USFS will update its schedule for the remainder of the NEPA process following the SDEIS comment period which is expected to end January 10, 2023.
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
Mckinsey Lyon
Vice President External Affairs
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information
Investors should be aware that the publication of the SDEIS and the identification by the USFS of the Modified Mine Plan as the Preferred Alternative does not indicate any commitments on the part of the USFS with regard to a final decision. In developing the Final Environmental Impact Statement (“FEIS”), the next phase of the NEPA planning process, the USFS may select various actions based on the Modified Mine Plan or each of the alternatives analyzed in the SDEIS. The SDEIS is subject to review and comment by the public through the public review period, which may be extended by the USFS in its sole discretion. In addition, statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including environmental clean up actions by us and our contractors; our ability to comply with and obtain permits related to the Stibnite Gold Project; actions to be taken by the USFS, the State of Idaho and other government agencies and regulatory bodies; the timing of the public review period; predictions regarding improvements to water quality, water temperature, and fish habitats and other environmental conditions at the site, including with respect to process and timing of such improvements; reduction of the Project footprint and the anticipated benefits and other effects thereof; our ability to successfully implement the Project and the occurrence of the expected benefits from the Project, including contributions to the workforce, national security and clean energy transition; our and Ambri Inc.’s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", “expect” “plan”, “likely”, “believe”, “intend”, “forecast”, “project”, “estimate”, "potential", "could", "may", "will", "would" or “should”. In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, assumptions that the current exploration, development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its other corporate activities will proceed as expected; that the review process under the NEPA (including any joint review process involving the USFS, the State of Idaho and other agencies and regulatory bodies) as well as the public review process and SDEIS will proceed in a timely manner and as expected; that we will be able to obtain sufficient funding to finance permitting, pre-construction and construction of the Project and that all requisite information will be available in a timely manner. Forward-Looking Information are based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include changes in laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may result in unforeseen results in the permitting process; uncertainty surrounding input to be received from regulators and community stakeholders; risks related to dependence on key personnel; risks related to unforeseen delays in the review process including availability of personnel from the USFS, State of Idaho and other stated, federal and local agencies and regulatory bodies (including, but not limited to, future US government shutdowns); risks related to opposition to the Project; risks related to increased or unexpected costs in operations or the permitting process; risks that necessary financing will be unavailable when needed on acceptable terms, or at all; risks related to the outcome of litigation and potential for delay of the Project, as well as those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the “SEC”) and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company’s business, see the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s filings with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
U.S. Forest Service Chooses Perpetua Resources’ Proposed Stibnite Gold Project as Preferred Alternative
Perpetua Resources Corp. announced today that the United States Forest Service has released the Supplemental Draft Environmental Impact Statement on the Stibnite Gold Project for public comment and has identified Perpetua’s proposed action, the “Modified Mine Plan,” as the Preferred Alternative. Identification of the Preferred Alternative by the USFS is a major milestone in the advancement of the Project and provides clarity for the remainder of the National Environmental Policy Act process.
Supplemental Draft Environmental Impact Statement published for 75-day public review and comment.
Perpetua’s Proposed Action includes improvements that are responsive to public input and designed to improve environmental outcomes.
Perpetua Resources is positioned to provide the only U.S. mined source of antimony, ending reliance on China and Russia for the critical mineral essential to national defense and clean energy transition.
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or “the Company”) announced today that the United States Forest Service (“USFS”) has released the Supplemental Draft Environmental Impact Statement (“SDEIS”) on the Stibnite Gold Project (“Project”) for public comment and has identified Perpetua’s proposed action, the “Modified Mine Plan,” as the Preferred Alternative. Identification of the Preferred Alternative by the USFS is a major milestone in the advancement of the Project and provides clarity for the remainder of the National Environmental Policy Act (“NEPA”) process.
“The Stibnite Gold Project is one step closer to restoring an abandoned mine site, providing hundreds of family-wage jobs for Idahoans, producing the only domestic mined source of antimony to protect our national security, and supporting America’s clean energy transition,” said Laurel Sayer, President and CEO of Perpetua Resources. “Perpetua submitted an initial plan of restoration and operations six years ago and our team has worked tirelessly to develop a responsible, modern mining project that can have a positive impact on Idaho and our nation. We have listened to community feedback and the process has made our plan even better.”
Thorough Permitting Process Improved Project:
In response to public and agency feedback on the Draft Environmental Impact Statement (“DEIS”) released by the USFS in August 2020, Perpetua proposed modifications to the mine plan analyzed in Alternative 2 in the DEIS and submitted a Modified Mine Plan to the USFS in December 2020. The Modified Mine Plan included refinements to reduce the project footprint, improve water quality, and lower water temperature. The USFS chose to advance this modified project design to an SDEIS to further evaluate the project refinements and compare the Company’s proposed site access via Burntlog Route to an alternative option using current roads. Perpetua’s design improvements in the Modified Mine Plan included:
Decreased on-site disturbance footprint, a 13% reduction from 2016 design
Reduced mined material by 10% (44 million tons)
Eliminated waste rock storage areas (168 acres)
Reduced volume of Hangar Flats pit by 70% and completely backfilled pit
Added extra geosynthetic covers to protect long-term water quality
Increased riparian vegetation and low flow channels to reduce water temperature
Developed additional habitat feature to replace bull trout habitat
Modified ore processing circuit to improve tailings chemistry
Stibnite Gold Project Designed with Solutions in Mind:
The Stibnite Gold Project is designed to restore the legacy environmental conditions at the abandoned mine site while responsibly redeveloping one of the highest-grade, open pit gold resources in the United States and become the only domestically mined source of the critical mineral antimony, which is essential to the national defense and energy sectors.
The Project plans to address the long-standing environmental issues plaguing the historic mine site. Unconstrained tailings and mine waste left behind from over a century of mining activity have increased metal levels in the ground and surface water at Stibnite and salmon have been blocked from native spawning grounds for more than 80 years. Perpetua’s efforts to combine mineral redevelopment with legacy restoration are expected to improve water quality over existing conditions, leave the river with enhanced habitat, open miles of perennial habitat for salmon, and increase the number of wetland acres on site today.
The Project is expected to produce gold and the critical mineral antimony. The United States Government has made clear that securing a domestic antimony supply is strategically important to our national interests. Today, China, Russia, and Tajikistan control 90% of the global supply of antimony and the United States has no mined source. The Stibnite Gold Project has the only identified reserve of antimony in the United States (USGS, 2021) and could provide a responsible and secure domestic source to satisfy the growing demand from the defense and energy sectors.
Supplemental Draft Environmental Impact Statement Materials:
Individuals who wish to view the SDEIS have 75 days to submit their comments to the USFS. The document can be found in the Environmental Protection Agency EIS database filed under EIS number 20220154 and will be available on the USFS project page at https://www.fs.usda.gov/project/?project=50516. Additional information on the Project and Perpetua’s plans to redevelop and restore the site, reconnect salmon to their native spawning grounds, produce America’s only source of the critical mineral antimony and contribute to the economic success of Idaho can be found at www.PerpetuaResources.com. Comments on the SDEIS are due by January 10, 2023.
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
chris.fogg@perpetuacorp.us
Info@perpetuacorp.us
Mckinsey Lyon
Vice President External Affairs
media@perpetua.us
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information
Investors should be aware that the publication of the SDEIS and the identification by the USFS of the Modified Mine Plan as the Preferred Alternative does not indicate any commitments on the part of the USFS with regard to a final decision. In developing the Final Environmental Impact Statement (“FEIS”), the next phase of the NEPA planning process, the USFS may select various actions based on the Modified Mine Plan or each of the alternatives analyzed in the SDEIS. The SDEIS is subject to review and comment by the public through the public review period, which may be extended by the USFS in its sole discretion. In addition, statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including environmental clean up actions by us and our contractors; our ability to comply with and obtain permits related to the Stibnite Gold Project; actions to be taken by the USFS, the State of Idaho and other government agencies and regulatory bodies; the timing of the public review period; predictions regarding improvements to water quality and other environmental conditions at the site, including with respect to process and timing of such improvements; reduction of the Project footprint and the anticipated benefits and other effects thereof; our ability to successfully implement the Project and the occurrence of the expected benefits from the Project, including contributions to the workforce, national security and clean energy transition; our and Ambri Inc.’s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", “expect” “plan”, “likely”, “believe”, “intend”, “forecast”, “project”, “estimate”, "potential", "could", "may", "will", "would" or “should”. In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, assumptions that the current exploration, development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its other corporate activities will proceed as expected; that the review process under the NEPA (including any joint review process involving the USFS, the State of Idaho and other agencies and regulatory bodies) as well as the public review process and SDEIS will proceed in a timely manner and as expected; that we will be able to obtain sufficient funding to finance permitting, pre-construction and construction of the Project and that all requisite information will be available in a timely manner. Forward-Looking Information are based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include changes in laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may result in unforeseen results in the permitting process; uncertainty surrounding input to be received from regulators and community stakeholders; risks related to dependence on key personnel; risks related to unforeseen delays in the review process including availability of personnel from the USFS, State of Idaho and other stated, federal and local agencies and regulatory bodies (including, but not limited to, future US government shutdowns); risks related to opposition to the Project; risks related to increased or unexpected costs in operations or the permitting process; risks that necessary financing will be unavailable on acceptable terms, or at all; risks related to the outcome of litigation and potential for delay of the Project, as well as those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the “SEC”) and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company’s business, see the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s filings with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Perpetua Resources Completes Initial Stream Diversion Activities Contributing to Water Quality Improvements at Historic Mine Site
Perpetua Resources announced the summer 2022 field program to initiate water quality improvements in the historical Stibnite mining district is complete. Perpetua was granted permission to take action to address the most pressing water quality concerns through an agreement signed in 2021 between the Company, the EPA and the USDA.
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or the “Company”) announced today the summer 2022 field program to initiate water quality improvements in the historical Stibnite mining district is complete. After 100 years of mining activity, millions of tons of unconstrained tailings and mine waste left behind by previous operators has been degrading water quality for decades. Perpetua was granted permission to take action to address the most pressing water quality concerns through an agreement signed in 2021 between the Company, the Environmental Protection Agency (“EPA”) and the United States Department of Agriculture (“USDA").
The 2022 field program included:
Lining and improving the existing Hennessy Creek diversion channel around the Northwest Bradley Waste Rock Dumps to prevent leakage into the dumps and the resulting uptake of metals.
Removing legacy waste from the Defense Minerals Exploration Administration (“DMEA”) waste rock dump from within and along a tributary to the East Fork of the South Fork of the Salmon River and restoring the original streamflow course.
Creating a lined diversion for surface water that previously contacted with legacy contamination around Smelter Flats, the former mill and smelter site used by past operators.
The next environmental improvements are expected to include the relocation of at least 325,000 tons of historical tailings and mine waste away from the East Fork of the South Fork of the Salmon River in 2023.
“We did not create the contamination that has degraded water quality in the historic Stibnite Mining District for decades, but are committed to be part of the solution,” said Laurel Sayer, CEO of Perpetua Resources. “Isolating streams away from historically contaminated material is a first step in fulfilling our goal of leaving the area better than it is today and demonstrates that responsible partnerships with private industry can benefit the environment and people of Idaho.”
Perpetua worked with the EPA and the USDA for more than three years to receive permission to conduct time critical, early action cleanup activities. In 2021, Perpetua Resources, the EPA and USDA signed an Administrative Settlement Agreement and Order on Consent, giving Perpetua the opportunity to voluntarily clean up key areas of the historical Stibnite mining district that would not otherwise be remedied by the additional legacy restoration proposed in the Stibnite Gold Project. Phase One of the Agreement provides a four-year period to conduct “time critical” cleanup actions designed to improve water quality. The remaining phases in the Agreement would allow for a more comprehensive remediation of the historical mining district should the Stibnite Gold Project receive permission to proceed upon conclusion of the National Environmental Policy Act (“NEPA”) review.
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
chris.fogg@perpetuacorp.us
Info@perpetuacorp.us
Mckinsey Lyon
Vice President External Affairs
media@perpetua.us
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including environmental clean up actions by us and our contractors; our ability to comply with and obtain permits related to the Stibnite Gold Project; actions to be taken by the State of Idaho and other government agencies and regulatory bodies; predictions regarding improvements to water quality and other environmental conditions at the site, including with respect to process and timing of such improvements; reduction of the Project footprint and the anticipated benefits and other effects thereof; our and Ambri Inc.’s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", “expect” “plan”, “likely”, “believe”, “intend”, “forecast”, “project”, “estimate”, "potential", "could", "may", "will", "would" or “should”. In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, assumptions that the current exploration, development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its other corporate activities will proceed as expected; that the review process under the NEPA (including any joint review process involving the USFS, the State of Idaho and other agencies and regulatory bodies) as well as the public review process and SDEIS will proceed in a timely manner and as expected; and that all requisite information will be available in a timely manner. Forward-Looking Information are based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the “SEC”) and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company’s business, see the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s filings with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Perpetua Resources Awarded Department of Defense Funding to Study Antimony from Stibnite Gold Project
Global conflict and fractured supply chains have strained U.S. ammunition supplies.
Grants will be used to evaluate if antimony samples from the Stibnite Gold Project can meet military specifications for U.S. ammunition supply chain.
The Stibnite Gold Project is expected to be the only mined source of the critical mineral antimony in the United States.
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or the “Company”) announced today the Company was awarded two funding grants from the U.S. Department of Defense (“DOD”) Defense Logistics Agency (“DLA”) to study the domestic production of military-grade antimony trisulfide, an essential component in ammunition and dozens of other defense materials. Perpetua will receive $200,000 in total to evaluate whether antimony from the Stibnite Gold Project (“Project”) can meet military specifications (“Mil-Spec”) to help secure America’s defense and commercial ammunition supply chain while also evaluating alternate methods for purifying antimony trisulfide.
“Antimony from the Stibnite Gold Project site served our national defense needs during World War II (“WWII”) and Perpetua is confident we can be part of the solution again,” said Laurel Sayer, President and CEO of Perpetua Resources. “We are grateful for this opportunity to work with the Department of Defense to demonstrate that our Project can develop reliable and domestically sourced antimony trisulfide for defense and commercial ammunition. It would be a great honor to support the independence of our country’s defense supply chains and the brave men and women who serve our country.”
Perpetua submitted two proposals to DLA’s “Production of Energetic Materials and Associated Precursors” Small Business Innovation Research (“SBIR”) grant solicitation. As described in the grant’s objective, the program is focused on reducing “foreign reliance and single points of failure for the domestic manufacturing of energetic materials” through the development of a domestic source. After a competitive review process, Perpetua was awarded SBIR Phase 1 funding of $100,000 for both programs. Each study is expected to be completed within the next six to 12 months.
The first program will test existing samples of antimony trisulfide ore from the Project for development into antimony trisulfide to Mil-Spec. The second program will study alternative processing opportunities to develop Mil-Spec antimony trisulfide from high purity antimony metal. After the completion of the proposed programs, Phase 2 funding could be made available for more advanced stage pilot-scale testing within the next year. Together, the Phase 1 and Phase 2 programs could confirm the Project’s ability to provide the domestic antimony source needed to meet the defense procurement demand and support commercial markets.
Antimony trisulfide is produced from high purity antimony ore feedstock and is used in small and medium caliber munitions, mortars, artillery, mines, flares, grenades, shoulder launched munitions and missiles. Currently, China, Russia, and Tajikistan control approximately 90% of the world’s antimony supply and the United States has no domestically mined source of the critical mineral. Perpetua’s proposed Stibnite Gold Project hosts one of the largest antimony deposits in the world independent of China, Russia and their interests.
Recent global conflict and supply chain instability has impacted access to the high purity antimony ore feedstock required to produce Mil-Spec antimony trisulfide. In June 2022, the House Armed Services Committee reported that Chinese and Russian geopolitical dynamics could “accelerate supply chain disruptions, particularly for antimony” and directed the Manager of the National Defense Stockpile to brief the committee on the five-year outlook for the antimony stockpile and supply chain.
The Stibnite Gold Project, located in central Idaho, is advancing through the sixth year of review under the National Environmental Policy Act. The Project is designed to restore environmental conditions in the historical Stibnite mining district while responsibly developing one of the highest-grade open pit gold resources in the United States and becoming the only domestically mined source of the critical mineral antimony. Mining activity first started in the district in the early 20th century for gold and silver. During WWII and the Korean War, the U.S. Government commissioned antimony and tungsten production from Stibnite under the authority of the Strategic Metals Act of 1939. The site produced over 90% of the antimony used by the U.S. during WWII and was influential in establishing Mil-Spec for antimony trisulfide.
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
chris.fogg@perpetuacorp.us
Info@perpetuacorp.us
Mckinsey Lyon
Vice President External Affairs
media@perpetua.us
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including environmental clean up actions by us and our contractors; our ability to comply with and obtain permits related to the Stibnite Gold Project; actions to be taken by the USFS, the State of Idaho and other government agencies and regulatory bodies and the expected results of their review; plans with respect to the issuance of an SDEIS and any designations thereunder; the anticipated timing for release of the SDEIS; predictions regarding improvements to environmental conditions at the site; reduction of the Project footprint and the anticipated benefits and other effects thereof; our and Ambri, Inc.’s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing: our ability to develop antimony to Mil-Spec; and the anticipated timing and results of the DLA funded studies will be successful and as expected.. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", “expect” “plan”, “likely”, “believe”, “intend”, “forecast”, “project”, “estimate”, "potential", "could", "may", "will", "would" or “should”. In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, assumptions that the current exploration, development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its other corporate activities will proceed as expected; that we will be able to develop antimony to Mil-Spec in connection with this testing and in the future; that we and Ambri will be able to agree on the terms of the Ambri agreement; that the general business and economic conditions will not change in a materially adverse manner and that permitting and operations costs will not materially increase; and that the review process under the NEPA (including the review process involving the USFS, any review process by the State of Idaho and other agencies and regulatory bodies and consultation with Idaho tribes) as well as the public review process and SDEIS will proceed in a timely manner and as expected; and that all requisite information will be available in a timely manner. Forward-Looking Information are based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the “SEC”) and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company’s business, see the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s filings with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Perpetua Resources Announces Stibnite Gold Project Moves Toward Public Review
Supplemental Draft Environmental Impact Statement publication anticipated in Q4 2022.
The Stibnite Gold Project is designed to responsibly source gold and the only domestically mined source of antimony, essential for clean energy and defense supply chains.
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or the “Company”) announced today that the Company expects the United States Forest Service (“USFS”) to publish a Supplemental Draft Environmental Impact Statement (“SDEIS” or “Supplemental DEIS”) for public review in the fourth quarter of 2022. The USFS has confirmed that cooperating agency review is complete and the SDEIS is currently progressing through final reviews in Washington D.C. The USFS is concurrently working with Idaho tribes to inform meaningful consultation.
Perpetua is confident the additional evaluation contained within the SDEIS will show improved environmental outcomes that directly address issues raised during the public review of the 2020 Draft Environmental Impact Statement (“DEIS”) and believes the additional analysis and detailed review should lead to the USFS designating a preferred alternative in the SDEIS. This key designation would further narrow the scope of review for the remainder of the process. Nearly two years of additional and comprehensive scientific analysis by the USFS and cooperating agencies, combined with the additional public review of the SDEIS, fortify the rigorous process mandated by the National Environmental Policy Act ("NEPA").
“We remain eager to show how our project improvements are designed to leave water quality and overall habitat in this historic mining district in better shape than they are in today,” said Laurel Sayer, President and CEO of Perpetua Resources. “Today, more than ever, a secure source of domestically produced antimony is essential for our national security and energy future. Perpetua is ready to be the responsible solution our country needs.”
Critical Project for National Defense and Clean Energy Future:
The Stibnite Gold Project in central Idaho is designed to restore environmental conditions at a legacy mine site while responsibly developing one of the highest-grade, open pit gold resources in the United States and becoming the only domestically mined source of the critical mineral antimony. Antimony is essential to defense, technology and energy products and is a listed critical mineral by the United States Geological Survey (USGS) and a mineral of interest by the Department of Defense (DOD) and Defense Logistics Agency (DLA).
Antimony is critical to the U.S. defense industrial supply chain for materials ranging from ammunition to night vision goggles. Without a domestically mined source, the United States is reliant on nations like China, Russia and Tajikistan that control 90% of the global supply. The Stibnite Gold Project has one of the world’s largest independent reserves of antimony and is positioned to provide a secure source of antimony for defense and commercial needs.
Attention to antimony, and related defense materials, is growing amid heightened geopolitical tension and supply chain disruptions. Last week, military leaders voiced concern that the war in Ukraine has strained ammunition supplies. This comes just after Congress called for increased attention to antimony in the National Defense Authorization Act (NDAA).
Congress recently authorized a 10% production tax credit for certain critical minerals including antimony in the Inflation Reduction Act. Antimony is a key component for the long-duration grid storage battery technology developed by Ambri. The Massachusetts-based company recently announced the expansion of its U.S. manufacturing capacity along with a renewable energy demonstration project with Xcel Energy in Colorado. In August 2021, Perpetua Resources entered into a partnership agreement with Ambri to provide antimony from the Stibnite Gold Project for battery production.
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
chris.fogg@perpetuacorp.us
Info@perpetuacorp.us
Mckinsey Lyon
Vice President External Affairs
media@perpetua.us
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including environmental clean up actions by us and our contractors; our ability to comply with and obtain permits related to the Stibnite Gold Project; actions to be taken by the USFS, the State of Idaho and other government agencies and regulatory bodies and the expected results of their review; plans with respect to the issuance of an SDEIS and any designations thereunder; the anticipated timing for release of the SDEIS; predictions regarding improvements to water quality and other environmental conditions at the site; reduction of the Project footprint and the anticipated benefits and other effects thereof; our and Ambri, Inc.’s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", “expect” “plan”, “likely”, “believe”, “intend”, “forecast”, “project”, “estimate”, "potential", "could", "may", "will", "would" or “should”. In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, assumptions that the current exploration, development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its other corporate activities will proceed as expected; that we and Ambri will be able to agree on the terms of the Ambri agreement; that the general business and economic conditions will not change in a materially adverse manner and that permitting and operations costs will not materially increase; and that the review process under the NEPA (including the review process involving the USFS, any review process by the State of Idaho and other agencies and regulatory bodies and consultation with Idaho tribes) as well as the public review process and SDEIS will proceed in a timely manner and as expected; and that all requisite information will be available in a timely manner. Forward-Looking Information are based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, changes in laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may result in unforeseen results in the permitting process; uncertainty surrounding input to be received from regulators and community stakeholders; risks related to unforeseen delays in the review process including availability of personnel from the USFS, State of Idaho and other stated, federal and local agencies and regulatory bodies (including, but not limited to, future US government shutdowns); risks related to opposition to the Project; risks related to increased or unexpected costs in operations or the permitting process; risks that estimates used in budgeting and financial statements may prove to be incorrect; risks related to the outcome of litigation and potential for delay of the Project, as well as those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the “SEC”) and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company’s business, see the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s filings with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Perpetua Resources Announces Second Quarter 2022 Highlights
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or the “Company”) announced today that its unaudited condensed consolidated financial results for the period ended June 30, 2022 were filed. For details, please see the Company’s filings available on EDGAR and SEDAR.
Perpetua Resources’ vision is to provide the U.S. with a domestic source of the critical mineral antimony, develop one of the largest and highest-grade open pit gold mines in the country and restore an abandoned brownfield site. Perpetua Resources is focused on advancing the permitting for the Stibnite Gold Project through the National Environmental Policy Act (“NEPA”) process.
Second Quarter 2022 and Recent Highlights:
Zero lost time incidents or reportable environmental spills in the second quarter of 2022
Received first permit, the Clean Air Act Permit to Construct (“Air Permit”) from the Idaho Department of Environmental Quality
Launched Sustainability Roadmap which outlines 13 goals to guide the Company
Held 2022 Annual General Meeting and shareholders voted in favor of all proposals
Welcomed value-oriented Kopernik as a new shareholder
Awarded contract for stream diversion work as part of Phase 1 early cleanup activities
Began early environmental cleanup activities and held groundbreaking ceremony with local elected officials and community members
Published 2021 Sustainability Report, the Company’s ninth annual sustainability report
Applauded United States Congress for taking steps to address vulnerabilities in the antimony supply chain, including the addition of an antimony reporting requirement under the National Defense Authorization Act
Continued productive mediation discussions with the Nez Perce Tribe; an extension to the stay on the Clean Water Act matter was recently granted through October 31, 2022
Hosted 14 site tours year-to-date for stakeholders including investors, regulators, environmental groups, media, elected officials, and community members
Held over 30 antimony and project briefings year-to-date for government and administrative stakeholders
“Perpetua Resources had another productive quarter as we advanced our project through the permitting process, continued mediation discussions with the Nez Perce Tribe, and broke ground on early environmental cleanup activities at Stibnite,” said Laurel Sayer, President and CEO of Perpetua Resources. “We received our first permit, marking a significant milestone for the Stibnite Gold Project and our goal to provide critical minerals essential for our national interests. We continue to anticipate the Supplemental Draft Environmental Impact Statement will be published in the third quarter of 2022 including a designated preferred project alternative.”
Permitting Update:
In May 2022, Perpetua announced the U.S. Forest Service (“USFS”) completed all of the 17 specialist reports in the first quarter of 2022 and circulated the preliminary Supplemental Draft Environmental Impact Statement (“SDEIS”) for cooperating agency review. The SDEIS is anticipated to be released for public review in the third quarter of 2022.
Perpetua also continued to advance other local, state and federal permits in parallel with the NEPA process. The Clean Air Act Permit to Construct was received from the Idaho Department of Environmental Quality (“IDEQ”) on June 17, 2022. The Air Permit mandates compliance with state and federal air standards and regulates emissions from construction and operation of the project. In late July, a Petition was filed by external groups requesting IDEQ to administratively review the Air Permit. The Company petitioned to intervene in the administrative process on August 12, 2022 to join IDEQ in defending the permit and the record justifying its requirements.
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
chris.fogg@perpetuacorp.us
Info@perpetuacorp.us
Mckinsey Lyon
Vice President External Affairs
media@perpetua.us
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including environmental clean up actions by us and our contractors; our ability to comply with and obtain permits related to the Stibnite Gold Project; actions to be taken by the State of Idaho and other government agencies and regulatory bodies; predictions regarding improvements to water quality and other environmental conditions at the site; reduction of the Project footprint and the anticipated benefits and other effects thereof; our and Ambri, Inc.’s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", “expect” “plan”, “likely”, “believe”, “intend”, “forecast”, “project”, “estimate”, "potential", "could", "may", "will", "would" or “should”. In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, assumptions that the current exploration, development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its other corporate activities will proceed as expected; that the goals outlined in the Sustainability Roadmap are achievable; that we and Ambri will be able to agree on the terms of the Ambri agreement; that the general business and economic conditions will not change in a materially adverse manner and that permitting and operations costs will not materially increase; and that the review process under the NEPA (including any joint review process involving the USFS, the State of Idaho and other agencies and regulatory bodies) as well as the public review process and SDEIS will proceed in a timely manner and as expected; and that all requisite information will be available in a timely manner. Forward-Looking Information are based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the “SEC”) and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company’s business, see the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s filings with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Perpetua Resources Begins Investment in Water Quality Improvements at Historic Mine Site
Idaho Governor Brad Little, members of the Idaho Congressional Delegation, and representatives from local communities celebrate this milestone for abandoned mine site restoration.
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or the “Company”) was joined today by community members, government officials and local business leaders at a groundbreaking ceremony to mark the beginning of early cleanup activities and water quality improvements to benefit the historic Stibnite mining district. After 100 years of mining activity, the millions of tons of unconstrained tailings and mine waste left behind by previous operators has been degrading water quality for decades. Today’s groundbreaking ceremony marked the start of a multi-year, multi-million-dollar investment designed to improve environmental conditions at the historic site. The first four-year phase of the project includes removing 325,000 tons of legacy waste and tailings away from the river and rerouting streams to keep clean water clean. High-ranking elected officials from across the state agree the work being done by Perpetua Resources is a model for private investment to help address legacy environmental issues at historic mine sites.
“We did not cause the contamination that has worsened water quality in the historic Stibnite Mining District for decades, but we are part of the solution,” said Laurel Sayer, CEO of Perpetua Resources. “Today, we put our commitments into action and are demonstrating that when we work together, big ideas can become reality. We are grateful for the coordination of our state and federal agencies who helped shape this visionary solution to revive this historic mine site. We are proud to bring much needed stewardship to Idaho’s headwaters.”
Perpetua worked with the Environmental Protection Agency (“EPA”) and the United States Department of Agriculture (“USDA”) for more than three years to receive permission to conduct time critical, early action cleanup activities. After consultation with other interested parties, including the Idaho Department of Environmental Quality, Perpetua Resources, the EPA and USDA signed an Administrative Settlement Agreement and Order on Consent (“the Agreement”) in 2021 paving the way for Perpetua to address legacy issues in key areas of the Stibnite district.
“Idaho’s natural resources can contribute a steady domestic supply of the materials we need to advance our economy,” said Idaho Governor Brad Little. “At the same time, cleanup projects like you see here at Stibnite are a critical part of the future of responsible mining in Idaho. Idaho has a rich history of collaborative work that balances economic prosperity with environmental stewardship. Perpetua Resources is another great example of this responsible balance, and I applaud their efforts to work with the respective agencies to make cleaning up the historic Stibnite mine site a reality.”
“I was pleased to see the EPA and USDA sign an agreement granting Perpetua Resources permission to voluntarily clean up key areas by the historical Stibnite mine site,” said Idaho Congressman Mike Simpson. “These time critical actions are long overdue and will focus on addressing the most immediate needs to improve water quality. This work proves that Perpetua is committed to leaving the abandoned mine site better than they found it. It is an important day for Idaho, we are all grateful to Perpetua for taking on this work.”
“Water is one of Idaho’s most treasured resources,” said Idaho Congressman Russ Fulcher. “Today’s announcement by Perpetua Resources shows the company shares this belief. By improving water quality in the historic Stibnite mining district through voluntary cleanup activities, Perpetua is showing the way for collaborative mining into the future.”
The groundbreaking ceremony involved sixty participants, including the Director of the Idaho Department of Environmental Quality Jess Byrne, Kimberly Glineski from the Idaho Department of Commerce, Mayor of Cascade Judy Nissula, residents of the Village of Yellow Pine, IMCO Construction CEO Tyler Kimberley, President and CEO of Perpetua Resources Laurel Sayer and many others.
On the behalf of Idaho Congressman Russ Fulcher, Cascade Mayor, Judy Nissula, presented Laurel Sayer with an American flag flown over the U.S. Capitol Building to commemorate the historic moment. “On behalf of our region, thank you for being good stewards of our community, our state and our environment,” said Mayor Nissula.
Early Action, Voluntary Environmental Improvements
Mining in the historic Stibnite Mining District first started in 1899. Stibnite then gained national significance during World War II when the U.S. Government commissioned antimony and tungsten production from the site to help with the war effort. In fact, Stibnite produced the majority of both minerals used by the U.S. during World War II and the U.S. Munitions Board credited the mine for shortening World War II by a year and saving a million American lives.
Unfortunately, most of the mining that occurred at Stibnite took place long before modern protections and regulations were established. As a result, the site was never fully reclaimed. Today, 10.5 million tons of unlined tailings and waste leach arsenic and antimony into ground and surface water, the East Fork of the South Fork of the Salmon River flows into an abandoned mining pit and habitat conditions are degraded. Perpetua Resources has proposed a redevelopment plan to mine the site for gold and the critical mineral antimony, while concurrently restoring the environment.
While the Stibnite Gold Project is currently under regulatory review, early cleanup actions are starting now. Perpetua, the EPA and the U.S. Forest Service have worked together to develop a detailed scope of work for Phase One cleanup activities since signing the Agreement in early 2021. IMCO Construction was selected to oversee water quality improvements taking place this summer which will include:
Lining, improving and rerouting stream channels on site to keep clean water from interacting with old waste dumps on site
Removing the Defense Minerals Exploration Administration legacy waste rock dump from within and along a tributary to the East Fork of the South Fork of the Salmon River and restoring the original streamflow course
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
chris.fogg@perpetuacorp.us
Info@perpetuacorp.us
Mckinsey Lyon
Vice President External Affairs
media@perpetua.us
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including environmental clean up actions by us and our contractors; our ability to comply with and obtain permits related to the Stibnite Gold Project; actions to be taken by the State of Idaho and other government agencies and regulatory bodies; predictions regarding improvements to water quality and other environmental conditions at the site; reduction of the Project footprint and the anticipated benefits and other effects thereof; our and Ambri, Inc.’s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", “expect” “plan”, “likely”, “believe”, “intend”, “forecast”, “project”, “estimate”, "potential", "could", "may", "will", "would" or “should”. In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, assumptions that the current exploration, development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its other corporate activities will proceed as expected; that the review process under the NEPA (including any joint review process involving the USFS, the State of Idaho and other agencies and regulatory bodies) as well as the public review process and SDEIS will proceed in a timely manner and as expected; and that all requisite information will be available in a timely manner. Forward-Looking Information are based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the “SEC”) and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company’s business, see the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s filings with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Perpetua Resources Publishes 2021 Sustainability Report
Perpetua Resources Corp. released its 2021 Sustainability Report highlighting the Company’s key achievements and progress in advancing its environmental, social and governance (“ESG”) goals. The report, which provides transparent disclosure of material ESG topics, is the Company’s ninth annual sustainability report and was developed in alignment with the Sustainability Accounting Standards Board (“SASB”) reporting framework for the Metals and Mining industry.
Perpetua’s ninth annual Sustainability Report and the first developed in alignment with SASB reporting framework.
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or the “Company”) released its 2021 Sustainability Report highlighting the Company’s key achievements and progress in advancing its environmental, social and governance (“ESG”) goals. The report, which provides transparent disclosure of material ESG topics, is the Company’s ninth annual sustainability report and was developed in alignment with the Sustainability Accounting Standards Board (“SASB”) reporting framework for the Metals and Mining industry.
“In 2021, Perpetua Resources took significant steps toward fulfilling our commitment to become a responsible mining company,” said Laurel Sayer, President and CEO of Perpetua Resources. “We launched a citizen’s water monitoring program, entered an antimony supply agreement to support the development of a clean energy storage battery and signed an agreement to start early environmental cleanup actions at site. Our annual sustainability report is an opportunity for our team to reflect on our accomplishments and is a tool to hold us accountable to the commitments we’ve made to our stakeholders.”
Perpetua Resources’ 2021 Sustainability Report provides an in-depth look at the Company’s achievements over the last year to advance its vision to provide the U.S. with a domestic source of the critical mineral antimony, develop one of the largest and highest-grade open pit gold mines in the country, and restore an abandoned brownfield site.
2021 Sustainability Report Highlights:
100% safe fuel hauls and 118 months with no reportable spills
67% female executive management and 33% gender or ethnically diverse board of directors
44% of site operations powered with solar power and first Greenhouse Gas emissions audit
83 community presentations and meetings
73 months with no lost time incidents
Adopted the SASB reporting framework and aligned with the UN Sustainable Development Goals
Launched an independent citizen’s water monitoring program
Signed an agreement to improve water quality at Stibnite
“Responsible mining and a more sustainable future go hand in hand,” said Sayer. “Support for mining in America will be influenced by our willingness to be transparent and accountable to our stakeholders, our dedication to positive environmental outcomes, and our ability to maintain the trust of our communities. As an aspiring modern mine developer, Perpetua is committed to robust ESG policies and practices and is continually thinking about how our actions will affect future generations of Idahoans.”
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
chris.fogg@perpetuacorp.us
Info@perpetuacorp.us
Mckinsey Lyon
Vice President External Affairs
media@perpetua.us
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including predictions regarding improvements to water quality and other environmental conditions at the site; our and Ambri, Inc.’s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing; reduction of the Project footprint and the anticipated benefits and other effects thereof; our ability to reach our sustainability goals as further described in the 2021 Sustainability Report; and the Stibnite Gold Project and the success and timing of such project and the related permitting process. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", “expect” “plan”, “likely”, “believe”, “intend”, “forecast”, “project”, “estimate”, "potential", "could", "may", "will", "would" or “should”. Forward-Looking Information in this news release, including assumptions that the current development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its activities will proceed as expected, are based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the “SEC”) and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company’s business, see the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s filings with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Perpetua Resources Receives First Permit for the Stibnite Gold Project
Perpetua Resources Corp. received the Clean Air Act Permit to Construct for the Stibnite Gold Project from the Idaho Department of Environmental Quality on June 17, 2022. The Air Permit mandates compliance with state and federal air standards and regulates emissions from construction and operation of the Project.
Perpetua Resources receives Clean Air Act Permit to Construct, a significant project milestone.
The Clean Air Act Permit is one of many permits the Company is seeking in parallel with the NEPA process.
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or the “Company”) received the Clean Air Act Permit to Construct (“Air Permit”) for the Stibnite Gold Project (“Project”) from the Idaho Department of Environmental Quality (“IDEQ”) on June 17, 2022. The Air Permit mandates compliance with state and federal air standards and regulates emissions from construction and operation of the Project.
“Receipt of our first permit marks a significant milestone for the Stibnite Gold Project,” said Laurel Sayer, President, and CEO of Perpetua Resources. “The approval demonstrates our commitment to comply with state and federal standards and the dedication of our team to fulfill the requirements of the permitting process.”
During the Air Permit review process, IDEQ assessed the proposed air emissions and prescribed enforceable requirements to reduce air quality impacts from the Project. The final Air Permit is designed to ensure protection of public health and the environment. The emissions allowed by the Air Permit are consistent with the mine plan currently under review in the federal permitting process. The Air Permit is one of many permits Perpetua is seeking in parallel with the National Environmental Policy Act (“NEPA”) process, and the Company continues to anticipate the release of a Supplemental Draft Environmental Impact Statement (“SDEIS”) in the third quarter of 2022.
Perpetua submitted the Air Permit application to IDEQ in 2019. During the review process, IDEQ invited the public to comment on drafts of the Air Permit in September 2020, February 2021, and January 2022. Perpetua engaged experts in mining emissions and air quality to support the rigorous additional evaluations undertaken by IDEQ in response to public comments. The final Air Permit was published on June 21, 2022.
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
chris.fogg@perpetuacorp.us
Info@perpetuacorp.us
Mckinsey Lyon
Vice President External Affairs
media@perpetua.us
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including, our ability to comply with the Air Permit and obtain other permits related to the Stibnite Gold Project; our and Ambri, Inc.’s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing; the public review process and SDEIS will proceed in a timely manner and as expected and that all requisite information will be available in a timely manner; and the Stibnite Gold Project and the success of such project. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", “expect” “plan”, “likely”, “believe”, “intend”, “forecast”, “project”, “estimate”, "potential", "could", "may", "will", "would" or “should”. Forward-Looking Information in this news release, including assumptions that the current development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its activities will proceed as expected, are based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the “SEC”) and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company’s business, see the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s filings with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Perpetua Resources Applauds Congressional Action on Antimony and Defense Stockpile
Perpetua Resources Corp. Congress for taking steps to address vulnerabilities associated with the antimony supply chain – a mineral strategic to our national security efforts. Listed as a defense shortfall material by the Department of Defense and one of 50 critical minerals listed by the United States Geological Survey, antimony is essential for munitions and numerous other military products but is largely controlled by China and Russia.
Senate and House Armed Services Committees include antimony in reports for the National Defense Authorization Act (“NDAA”).
Congress asks for briefing from Defense Logistics Agency (“DLA”) regarding the defense stockpile of antimony and supply chain vulnerabilities for the Chinese and Russian controlled mineral.
House includes $10 million in Defense Appropriation bill to study secure sourcing of antimony trisulfide for the Department of Defense.
Perpetua Resources could provide the only domestically mined source of antimony which is a critical mineral in many military applications and listed as a “material of interest” by the DLA.
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or the “Company”) applauds the United States (“U.S.”) Congress for taking steps to address vulnerabilities associated with the antimony supply chain – a mineral strategic to our national security efforts. Listed as a defense shortfall material by the Department of Defense and one of 50 critical minerals listed by the United States Geological Survey, antimony is essential for munitions and numerous other military products but is largely controlled by China and Russia. Within the last two weeks, Congress has shown growing interest in the status and readiness of the National Defense Stockpile, taking specific action to require the Defense Logistics Agency to brief Congress on the status and future supply risks of the antimony stockpile and to increase spending to secure critical defense materials, including antimony. Currently, the United States is fully reliant on foreign sources for primary production of antimony.
“I am encouraged by the recognition from the Congressional committees with jurisdiction over national security that we simply cannot allow Russia and China to control our country’s access to munitions and military equipment,” said Laurel Sayer, President & CEO of Perpetua Resources. “Without immediate action to secure access to the minerals we need, America will continue to be vulnerable. Perpetua’s vision for the Stibnite Gold Project includes providing our nation with the only domestically mined source of antimony and, in doing so, offers solutions to help strengthen our national defense.”
Signaling bipartisan support to bolster the National Defense Stockpile, Democrat Senator Joe Manchin and Republican Senator Joni Ernst, who both serve on the Senate Armed Services Committee, released the Homeland Acceleration of Recovering Deposits and Renewing Onshore Critical Keystones Act (“HARD ROCK Act”) on June 14, 2022. “The reality is, when it comes to certain strategic and critical minerals, the United States is simply insufficiently developed to meet military and essential civilian needs,” said Senator Ernst when promoting the HARD ROCK Act.
Additional actions that raise awareness and preparedness regarding the antimony supply chain include:
On June 8, 2022, the House Armed Services Committee’s NDAA report cited concern that Chinese and Russian geopolitical dynamics could “accelerate supply chain disruptions, particularly with antimony” and therefore directs the Manager of the National Defense Stockpile at the Defense Logistics Agency to brief the committee on the status of the antimony stockpile and provide a five-year outlook on current and future supply chain vulnerabilities.
On June 15, 2022, the House Defense Appropriations Subcommittee included $10 million in its bill for the Army to study domestic sourcing and production of military grade antimony trisulfide for tank and medium caliber ammunition.
On June 16, 2022, the Senate Armed Services Committee’s NDAA also included a briefing requirement on antimony from DLA. Both the House and Senate will move the NDAA through the legislative process and both chambers are expected to vote on the bill later this year.
On June 16, 2022, the Senate NDAA also included $1 billion in funding for DLA to support the acquisition of critical defense materials, like antimony, for the National Defense Stockpile.
The Stibnite Gold Project (“Project”) is a proposed gold and antimony mine located in the historical Stibnite mining district in central Idaho. The abandoned mine site, which has seen over 100 years of mining activity and supplied most of the tungsten and antimony for the U.S. in World War II and the Korean War, still contains one of the largest known economic reserves of antimony not controlled by the Chinese and their interests. The Project is advancing through the National Environmental Policy Act (“NEPA”) permitting process and regulators have estimated a final record of decision in late 2023. If approved, the Project would be the only mined source of antimony in the U.S.
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
chris.fogg@perpetuacorp.us
Info@perpetuacorp.us
Mckinsey Lyon
Vice President External Affairs
media@perpetua.us
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including our and Ambri, Inc.’s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing; and the Stibnite Gold Project and the success and timing of such project and related permitting process. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", “expect” “plan”, “likely”, “believe”, “intend”, “forecast”, “project”, “estimate”, "potential", "could", "may", "will", "would" or “should”. Forward-Looking Information in this news release, including assumptions that the current development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its activities will proceed as expected, are based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the “SEC”) and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company’s business, see the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s filings with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Perpetua Resources Awards Contract for Early Cleanup Activities at Historical Mine Site
Perpetua Resources Corp. announced today that it selected IMCO Construction (“IMCO”) as a partner to begin water quality improvements in the historical Stibnite mining district from July to October 2022. Based in Washington with a regional office in Boise, IMCO is a nationally recognized, award winning firm with technical expertise in industrial, hydro, transportation, water and wastewater construction projects.
Perpetua Resources’ voluntary improvements to water quality in historical Stibnite mining district expected to begin this summer.
Nationally recognized IMCO Construction selected to lead stream diversion and mine waste cleanup activities.
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or the “Company”) announced today that it selected IMCO Construction (“IMCO”) as a partner to begin water quality improvements in the historical Stibnite mining district from July to October 2022. Based in Washington with a regional office in Boise, IMCO is a nationally recognized, award winning firm with technical expertise in industrial, hydro, transportation, water and wastewater construction projects.
Water quality at the abandoned Stibnite site has been degraded by elevated levels of arsenic and antimony from millions of tons of unconstrained tailings and other mine waste left behind by previous operators over the last 100 years. Perpetua has been granted permission from the Environmental Protection Agency (“EPA”) and the United States Department of Agriculture (“USDA”) to conduct time critical early action cleanup activities. Perpetua has been committed to site restoration as part of the Company’s vision and looks forward to taking meaningful steps to improve water quality.
“Action to improve water quality at Stibnite has been needed for decades,” said Laurel Sayer, CEO of Perpetua Resources. “As we break ground on the first phase of early cleanup efforts this summer, IMCO brings a track record of successfully executing complex projects safely and a set of shared values. Isolating streams away from historically contaminated material is a first step in fulfilling our goal of leaving the area better than it is today and demonstrates that responsible partnerships with private industry can benefit the environment and people of Idaho.”
IMCO Construction specializes in environmentally sensitive construction projects, working in remote locations for clients throughout Washington, Idaho, Oregon, Montana and beyond. From pre-construction through commissioning and operation, IMCO brings collaborative solutions and strong teamwork rooted in the core values of integrity, excellence, and family, and a relentless commitment to safety. IMCO was selected by Perpetua after a competitive bidding process.
“Our team is thrilled to partner with Perpetua Resources to begin cleanup activities at Stibnite this summer.” said Tyler Kimberley, President & CEO of IMCO Construction. “We understand the demands of working in sensitive backcountry environments. We look forward to bringing our commitment and technical expertise to protecting these critical environmental assets. We are proud to support Perpetua’s vision of restoring a brownfields site.”
In 2021, Perpetua Resources, the EPA and USDA signed an Administrative Settlement Agreement and Order on Consent (“ASAOC” or “Agreement”), giving Perpetua permission to voluntarily clean up key areas of the historical Stibnite mining district that would not otherwise be remedied by the additional legacy restoration proposed in the Stibnite Gold Project. Phase One of the Agreement provides a four-year period to conduct “time critical” cleanup actions designed to improve water quality. The remaining phases in the Agreement would allow for a more comprehensive remediation of the historical mining district should the Stibnite Gold Project receive permission to proceed upon conclusion of the National Environmental Policy Act (“NEPA”) review.
Perpetua, the EPA and the U.S. Forest Service have worked together to develop a detailed scope of work for Phase One cleanup activities since signing the Agreement in early 2021. The stream diversion work this summer is expected to include:
Lining and improving the existing Hennessy Creek diversion channel around the Northwest Bradley Waste Rock Dumps to prevent leakage into the dumps and the resulting uptake of metals.
Removing the Defense Minerals Exploration Administration (“DMEA”) legacy waste rock dump from within and along a tributary to the East Fork of the South Fork of the Salmon River and restoring the original streamflow course.
Creating a lined diversion for surface water that currently comes in contact with legacy contamination around Smelter Flats, the former mill and smelter site used by past operators.
The next “time critical” environmental improvements are expected to include the removal and relocation of at least 325,000 tons of historical tailings and mine waste away from the East Fork of the South Fork of the Salmon River.
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
chris.fogg@perpetuacorp.us
Info@perpetuacorp.us
Mckinsey Lyon
Vice President External Affairs
media@perpetua.us
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including actions to be taken by IMCO; predictions regarding improvements to water quality and other environmental conditions at the site; disclosure regarding requirements for capital; our and Ambri, Inc.’s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing; and the Stibnite Gold Project and the success of such project. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", “expect” “plan”, “likely”, “believe”, “intend”, “forecast”, “project”, “estimate”, "potential", "could", "may", "will", "would" or “should”. Forward-Looking Information in this news release, including assumptions that the current development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its activities will proceed as expected, are based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the “SEC”) and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company’s business, see the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s filings with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Perpetua Resources Welcomes Value-Oriented Kopernik as New Shareholder
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or the “Company”) welcomes Kopernik Global Investors LLC (“Kopernik”) as a new shareholder following a recent market purchase. Kopernik is a global, value-oriented investor with a proven track record of successful investments, including in the metals and mining space.
“We are excited to welcome Kopernik as a shareholder,” said Laurel Sayer, President & CEO of Perpetua Resources. “Perpetua shares are currently trading at a significant discount to the Stibnite Gold Project’s value and this has been recognized. We believe this investment further supports our vision and superior value proposition.”
Perpetua Resources’ vision is to provide the U.S. with a domestic source of the critical mineral antimony, develop one of the largest and highest-grade open pit gold mines in the country and restore an abandoned brownfields site. The Stibnite Gold Project is currently progressing into the later stages of the permitting process, and the Company anticipates the release of a Supplemental Draft Environmental Impact Statement (“SDEIS”) in the third quarter of 2022.
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
chris.fogg@perpetuacorp.us
Info@perpetuacorp.us
Mckinsey Lyon
Vice President External Affairs
media@perpetua.us
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including plans with respect to the ability of the Company and Ambri, Inc. to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing; the public review process and SDEIS will proceed in a timely manner and as expected and that all requisite information will be available in a timely manner; and the Stibnite Gold Project and the success of such project. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", “expect” “plan”, “likely”, “believe”, “intend”, “forecast”, “project”, “estimate”, "potential", "could", "may", "will", "would" or “should”. Forward-Looking Information in this news release are based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the “SEC”) and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company’s business, see the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s filings with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Perpetua Resources Reports Results of 2022 Annual Meeting
Perpetua Resources Corp. today announced the results of its annual general and special meeting (the “Annual Meeting”), which was held online through a virtual meeting platform on May 25, 2022.
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or the “Company”) today announced the results of its annual general and special meeting (the “Annual Meeting”), which was held online through a virtual meeting platform on May 25, 2022.
A total of 43,798,425 common shares were represented at the Annual Meeting, or 69.55% of the votes attached to all outstanding shares at the Company’s record date of April 4, 2022. The Company’s shareholders voted in favor of fixing the number of directors at 9 (99.64% voted in favor) and for the election of all director nominees listed in the Company’s management information proxy circular. Detailed results of the vote for the election of directors are as follows:
The directors were elected to hold offices until the next annual meeting of shareholders or until their successors are elected or appointed.
The Company’s shareholders also ratified the appointment of PricewaterhouseCoopers LLP, Chartered Accountants, as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2022 at a remuneration to be set by the Directors (99.71% voted in favor).
The Company’s shareholders also approved a special resolution to approve and adopt an amendment to the Articles of the Company to alter the quorum requirements such that the presence, in person or by proxy, of two or more shareholders representing at least 331/3% of the outstanding shares entitled to be voted in order to constitute a quorum at any meeting of shareholders of the Company (98.54% voted in favor).
Detailed voting results for the meeting are available on SEDAR at www.sedar.com.
For further information about Perpetua Resources Corp., please contact:
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
chris.fogg@perpetuacorp.us
Info@perpetuacorp.us
Mckinsey Lyon
Vice President External Affairs
media@perpetua.us
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action, including plans with respect to the ability of the Company and Ambri, Inc. to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing; the Sustainability Roadmap and the goals outlined thereunder; and the Stibnite Gold Project and the success of such project. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", “expect” “plan”, “likely”, “believe”, “intend”, “forecast”, “project”, “estimate”, "potential", "could", "may", "will", "would" or “should”. Forward-Looking Information in this news release are based on certain material assumptions and involve, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the “SEC”) and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company’s business, see the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s filings with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Perpetua Resources Announces First Quarter 2022 Highlights
Perpetua Resources Corp. announced today that its unaudited condensed consolidated financial results for the period ended March 31, 2022 were filed. For details, please see the Company’s filings available on EDGAR and SEDAR.
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or the “Company”) announced today that its unaudited condensed consolidated financial results for the period ended March 31, 2022 were filed. For details, please see the Company’s filings available on EDGAR and SEDAR.
Perpetua Resources’ vision is to provide the U.S. with a domestic source of the critical mineral antimony, develop one of the largest and highest-grade open pit gold mines in the country and restore an abandoned brownfield site. Perpetua Resources is focused on advancing the permitting for the Stibnite Gold Project through the National Environmental Policy Act (“NEPA”) process.
First Quarter 2022 and Recent Highlights:
Zero lost time incidents and zero reportable environmental spills in the first quarter of 2022
Strengthened Board with appointment of Laura Dove who brings three decades of external affairs and stakeholder management experience
Promoted Jessica Largent to CFO and hired Chris Fogg as Investor Relations Manager
Launched Sustainability Roadmap outlining 13 goals that will guide Perpetua
Released the Company’s first annual report as a U.S. domestic issuer
Continued productive mediation discussions with the Nez Perce Tribe and an extension to the stay on the Clean Water Act matter was recently granted through July 31, 2022
Prepared contractor competitive bid package for the stream diversion clean up work expected to begin this summer under the Administrative Settlement and Order on Consent (“ASAOC”)
Welcomed Idaho’s Congressional Delegation submitting floor remarks and issuing a statement supporting critical mineral independence
Stibnite Advisory Council began review of the first data collected from the Independent Water Quality Monitoring program
“Perpetua Resources had a productive quarter as we continued to advance our project through the permitting process, further strengthened our team and launched our Sustainability Roadmap,” said Laurel Sayer, President and CEO of Perpetua Resources. “I look forward to the public seeing how our project improvements are designed to leave water quality and overall habitat in better shape than today while also responsibly producing critical minerals for our national interests. I remain confident that the additional evaluation of our project will address the concerns raised during the last public review and we are hopeful that it will allow the U.S. Forest Service to designate a preferred project alternative in the third quarter of 2022.”
Permitting Update:
On February 22, 2022, Perpetua announced the U.S. Forest Service (“USFS”) is expected to publish the Supplemental Draft Environmental Impact Statement (“SDEIS”) for public review early in the third quarter of 2022. In the first quarter of 2022, the USFS completed all of the 17 specialist reports for cooperating agency review and recently circulated the preliminary SDEIS for cooperating agency review. The comprehensive scientific analysis by the USFS and cooperating agencies, combined with the additional public review of the SDEIS, fortify the rigorous process mandated by NEPA.
The Company also advanced work on several ancillary permits in the first quarter of 2022, which are being progressed in parallel with the NEPA process. The Air Permit to Construct draft permit was released for public comment by the Idaho Department of Environmental Quality (“IDEQ”) in January 2022. The public comment period closed in March 2022 after a 30 day extension. In addition, the Idaho Pollution Discharge Elimination System (“IPDES”) application for industrial outfalls was submitted in January and deemed complete in early March. Perpetua’s water rights permit application is continuing through the administrative process after being submitted to the Idaho Department of Water Resources (“IDWR”) in 2021.
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
chris.fogg@perpetuacorp.us
Info@perpetuacorp.us
Mckinsey Lyon
Vice President External Affairs
media@perpetua.us
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including actions to be taken by government agencies and regulatory bodies; predictions regarding improvements to water quality and other environmental conditions at the site; reduction of the Project footprint and the anticipated benefits and other effects thereof; our and Ambri, Inc.’s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing; the Sustainability Roadmap and the goals outlined thereunder; and the Stibnite Gold Project and the success of such project. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", “expect” “plan”, “likely”, “believe”, “intend”, “forecast”, “project”, “estimate”, "potential", "could", "may", "will", "would" or “should”. In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, assumptions that the current exploration, development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its other corporate activities will proceed as expected; that the goals outlined in the Sustainability Roadmap are achievable; that we and Ambri will be able to agree on the terms of the Ambri agreement; and that general business and economic conditions will not change in a materially adverse manner and that permitting and operations costs will not materially increase; that the review process under the NEPA (including any joint review process involving the USFS, the State of Idaho and other agencies and regulatory bodies) as well as the public review process and SDEIS will proceed in a timely manner and as expected; and that all requisite information will be available in a timely manner. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, changes in laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may result in unforeseen results in the permitting process; uncertainty surrounding input to be received from regulators and community stakeholders; risks related to unforeseen delays in the review process including availability of personnel from the USFS, State of Idaho and other stated, federal and local agencies and regulatory bodies (including, but not limited to, future US government shutdowns); risks related to opposition to the Project; those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the “SEC”) and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company’s business, see the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s filings with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Perpetua Resources launches Sustainability Roadmap
Perpetua Resources Corp. launched its Sustainability Roadmap today which outlines 13 goals to guide the Company as it advances the Stibnite Gold Project towards development. The Roadmap provides additional transparency and accountability measures for stakeholders, including community members and employees to track how Perpetua’s Environment, Social, and Governance commitments will be integrated as the Project advances.
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or the “Company”) launched its Sustainability Roadmap (“Roadmap”) today which outlines 13 goals to guide the Company as it advances the Stibnite Gold Project (“Project”) towards development. The Roadmap provides additional transparency and accountability measures for stakeholders, including community members and employees to track how Perpetua’s Environment, Social, and Governance (“ESG”) commitments will be integrated as the Project advances. Each goal within the Roadmap is informed by the United Nations’ Sustainable Development Goals (“UNSDGs”) to align Perpetua’s path with global objectives to promote a more sustainable future.
“Our actions over the last decade demonstrate our deep commitment to building a company where responsible redevelopment of the historical Stibnite Mining District can bring environmental, social and economic benefits” said Laurel Sayer, President and CEO of Perpetua Resources. “Launching Perpetua’s Sustainability Roadmap provides an additional level of transparency for all of our stakeholders as we advance the Stibnite Gold Project.”
Perpetua Resources and the Stibnite Gold Project are uniquely positioned to demonstrate an industry-leading sustainability approach. The Project is designed to restore an abandoned mine area through reprocessing and safely storing millions of tons of legacy mine tailings, restoring river habitat and fish migration access, and improving wetlands. The Project can also support the clean energy transition as the only domestically mined source of the critical mineral antimony, which is an essential component in Ambri’s long-duration storage batteries. Additionally, the Perpetua team has prioritized gender diversity with over 40% female employees and over 65% female senior leadership, led by CEO Laurel Sayer.
“Sustainability has always been at the forefront for Perpetua,” said Sayer. “We began by prioritizing community partnerships, designing for environmental uplift and recruiting a diverse team that represents some of the best in the industry. Now, we are advancing our efforts by defining a path for responsible mineral development here at home.”
The Company’s vision to responsibly restore an abandoned mine site, produce critical minerals required for U.S. security and clean energy, and bring benefits to surrounding communities formed the foundation for the Roadmap. The goals were developed in alignment with Perpetua’s ESG policy and broader sustainability strategy and support multiple UNSDGs.
Perpetua Resources’ Sustainability Roadmap goals are:
Improve and protect water quality. Perpetua Resources’ Plan of Restoration and Operation is designed to improve water quality at Stibnite to be better than it is today.
Conserve water. Conserving and reusing water are key to minimizing the impacts of the Stibnite Gold Project.
Limit our footprint. The Company has already reduced the footprint of its Project by 13% compared to the original design. Additionally, 51% of the footprint is on previously disturbed land. It is one of the only projects in North America that plans to reprocess previously mined material to restore a brownfields site.
Be a responsible link in the clean energy supply chain. Perpetua signed an agreement to supply a portion of the antimony produced at Stibnite to Ambri Inc, for the development of grid-scale storage batteries that can help decarbonize the U.S. energy grid.
Work with communities and regulators to refine environmental outcomes of the Stibnite Gold Project. Public and agency feedback has been essential in the design of the Project. Perpetua will use this feedback to identify ways to improve the social and environmental outcomes of our project.
Nurture connections with tribal communities and identify opportunities to collaborate. Perpetua is committed to continuing to work with tribal leadership, staff and their membership to ensure the Project honors and protects tribal treaty rights.
Foster an open and transparent relationship with local communities. The Stibnite Advisory Council, which was formed by the 2018 Community Agreement, is a vehicle for the Company to connect directly with the communities closest to our site throughout the life of the Project.
Create economic partnerships that sustain beyond the life of the mine. Perpetua Resources entered into a profit-sharing agreement to fund the Stibnite Foundation. This locally-run charitable endowment is designed to have a lasting impact by supporting local social, environmental and health programs.
Develop a diverse and inclusive team. The Company is committed to recruiting, building and retaining a diverse team.
Adopt a long-term Environment, Social and Governance reporting framework. Perpetua Resources will strive to align its ESG disclosure with the SASB reporting framework beginning with its 2021 sustainability report to be released later this year.
Disclose and report current and future GHG emissions. Perpetua plans to report annual greenhouse gas (GHG) emissions through a certified third-party to ensure transparency in emissions reporting.
Set science-based GHG target. Once a Project design is approved by regulators, the Company will establish an anticipated baseline for GHG emissions and intends to develop targets based on feasible offsets, mitigations and reductions.
Protect our people and our communities. Perpetua will continue to implement best practices and set high safety and training standards to keep our people and our communities safe.
Perpetua Resources has published annual sustainability reports since 2013, detailing the Company’s actions in communities and for the environment and will launch its ninth report later this year. These reports can be viewed on Perpetua’s website at https://perpetuaresources.com/sustainability/. Perpetua Resources expects to set more specific and measurable ESG targets based on the final project design and anticipated outcomes once all permits for the Stibnite Gold Project have been issued.
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
chris.fogg@perpetuacorp.us
Info@perpetuacorp.us
Mckinsey Lyon
Vice President External Affairs
media@perpetua.us
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only mined source of antimony in the United States. Further advancing Perpetua Resources’ ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. In addition to the company’s commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, next steps and courses of action including actions to be taken by government agencies and regulatory bodies; predictions regarding improvements to water quality and other environmental conditions at the site; reduction of the Project footprint and the anticipated benefits and other effects thereof; our and Ambri, Inc.’s ability to perform under the supply agreement, which agreement is subject to certain conditions, including identification of one or more refiners to transform our antimony concentrate into antimony metal, and mutual agreement on certain material terms, including volume and pricing; the Sustainability Roadmap and the goals outlined thereunder; and the Stibnite Gold Project and the success of such project. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", “expect” “plan”, “likely”, “believe”, “intend”, “forecast”, “project”, “estimate”, "potential", "could", "may", "will", "would" or “should”. In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, assumptions that the current exploration, development, environmental and other objectives concerning the Stibnite Gold Project can be achieved and that its other corporate activities will proceed as expected; that the goals outlined in the Sustainability Roadmap are achievable; that we and Ambri will be able to agree on the terms of the Ambri agreement; and that general business and economic conditions will not change in a materially adverse manner and that permitting and operations costs will not materially increase. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, uncertainty surrounding input to be received from regulators and community stakeholders; those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the “SEC”) and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company’s business, see the “Risk Factors” section of the Company’s filings with the SEC, which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedar.com. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.