BOISE,
Idaho, Aug. 14, 2023 /PRNewswire/ - 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, 2023 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 and construction readiness for the Project.
Second Quarter 2023 and Recent Highlights:
- Zero lost time incidents or reportable environmental
spills.
- Successfully mobilized teams and equipment to site for the next
round of voluntary legacy waste cleanup and water quality
improvement actions in the historical Stibnite Mining
District.
- Added to the Russell 2000® Index and the broad-market Russell
3000® Index.
- Held 2023 Annual General Meeting and shareholders voted in
favor of all proposals.
- Published 2022 Sustainability Report, the Company's tenth
annual sustainability report.
- Signed Definitized Agreement for Critical Minerals Award
of $24.8 million under the Defense
Production Act ("DPA").
- Filed Clean Water Act Settlement Agreement with the Nez
Perce Tribe.
"Perpetua Resources had another strong quarter and we continued
to advance the Stibnite Gold Project while showing that we can be a
trusted partner and help leave a lasting legacy of positive
benefits in our community," said Laurel
Sayer, President and CEO of Perpetua Resources. "We
responded promptly to all information requests related to the
federal permitting process, advanced several ancillary permits, and
successfully mobilized teams and equipment for legacy waste cleanup
activities this summer. We also continued to demonstrate a strong
safety record with zero lost time incidents or reportable
spills."
Permitting and Construction Readiness Activities
Update:
Following completion of the public comment period and analysis
on the Supplemental Draft Environmental Impact Statement ("SDEIS"),
the United States Forest Service updated the permitting schedule
for the Project with a Final Environmental Impact Statement
("FEIS") and draft Record of Decision ("ROD") expected by the end
of 2023 and a final ROD anticipated in early 2024.
Perpetua advanced work on several ancillary permits which are
being progressed in parallel with the NEPA process. Recent updates
include:
- Submitted the 404 Wetlands & Compensatory Mitigation Plan
application to the U.S. Army Corps of Engineers ("USACE") in
April 2023 and USACE provided a 404
permit application completeness determination in July 2023.
- Submitted the formal request to begin the 401 Water Quality
Certification process to Idaho Department of Environmental Quality
("IDEQ") in May 2023.
- Submitted tailings storage facility dam safety application to
Idaho Department of Water Resources ("IDWR") in July 2023.
Perpetua is advancing construction readiness activities which
are reimbursable under the DPA funding. In the second quarter of
2023, the Company began project execution planning and scheduling,
selected a construction manager general contractor to advance
studies and detailed engineering for the road design, and began
detailed scoping and engineering for the power line.
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 been
awarded a Technology Investment Agreement of $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.
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 Department of Defense, USFS, the State of Idaho and other government agencies
and regulatory bodies; our ability to successfully implement and
fund the Project and the occurrence of the expected benefits from
the Project; 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; the timing and
outcome of the settlement of the CWA litigation. 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; the settlement of the
CWA litigation will proceed on the anticipated terms and timeline;
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 and liquidity, 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 and
subsequent Quarterly Reports on Form 10-Q filed 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.
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SOURCE Perpetua Resources Corp.