BOISE,
Idaho, March 17, 2023 /PRNewswire/ - 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
- Held 2022 Annual General Meeting and shareholders voted in
favor of all proposals
"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.
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.
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SOURCE Perpetua Resources Corp.