U.S. Antimony Corporation operates an antimony
processing facility in Montana
with potential capabilities to process certain quantities of
antimony concentrate from the Stibnite Gold Project.
BOISE,
Idaho, Dec. 9, 2024 /PRNewswire/ - Perpetua
Resources Corp. (Nasdaq: PPTA) (TSX: PPTA) ("Perpetua Resources" or
"Perpetua" or the "Company") today announced its wholly owned
subsidiary, Perpetua Resources Idaho, Inc., has agreed to conduct
metallurgical testing of antimony concentrate samples from
Perpetua's Stibnite Gold Project ("Project") with Montana-based United States Antimony
Corporation (NYSE: UAMY) ("USAC").
"We are focused on exploring all possible avenues to build a
fully American antimony supply chain," said Jon Cherry, President and CEO of Perpetua
Resources. "The antimony produced by the Stibnite Gold Project can
serve America's needs, and we're dedicated to investigating all
options to develop a fully domestic antimony supply chain."
"If we can do this in America, then we should do this in
America," said Gary C. Evans,
Chairman of U.S. Antimony Corporation. "U.S. Antimony has a long
history of processing antimony products for American users and is
dedicated to securing future capacity to meet increasing domestic
demand."
The Stibnite Gold Project has an antimony reserve of 148 million
pounds, making it one of the largest reserves of antimony not under
Chinese influence and the only U.S. domestic reserve. The Project
is expected to supply about 35 percent of total U.S. antimony
demand in the first six years of operations, based on the 2023 USGS
antimony commodity summary.
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 one of the lowest carbon emissions grids
in the nation and a portion of the antimony produced from the
Project will be supplied to Ambri, a U.S.-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 ("TIA") of $59.2 million in Defense Production Act Title III
("DPA") 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 MOU is non-binding and
non-exclusive. There is no certainty that any definitive agreement
or arrangement between the Company and Sunshine Silver will result from their dealings
pursuant to the MOU. In addition, the publication by the USFS of
the FEIS and the draft ROD, and the publication of the USFS
permitting schedule, does not indicate any commitments on the part
of the USFS with regard to the content or timing of a final ROD.
The draft ROD is subject to a 45-day objection period, followed by
a 45-day resolution period, which may be extended by the USFS in
its sole discretion. Furthermore, the USFS is not bound by the
permitting schedule and anticipated milestones may be delayed
materially or not be satisfied. In addition, investors should be
aware that the U.S. EXIM Letter of Interest is non-binding and
conditional, and does not represent a financing commitment. A
funding commitment is conditional upon completing the application,
due diligence and underwriting process and receiving all required
Project approvals. Additionally, funding under the DPA TIA is
available only for the specified costs related to permitting,
environmental baseline data monitoring, environmental and technical
studies, and advancing construction readiness and is not available
to fund the Company's costs under its Administrative Settlement and
Order on Consent obligations and certain corporate
expenses.
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 the content and timing of
final ROD and other actions to be taken by the Department of
Defense, USFS, the State of Idaho
and other government agencies and regulatory bodies; environmental
clean up actions by us and our contractors; that the Stibnite Gold
Project results in the outcomes we expected, including our reserves
and resources and anticipated production and costs; our ability to
comply with and obtain permits related to the Stibnite Gold
Project; the anticipated goals and outcomes of the MOU; expected
demand for antimony and our ability to supply it; our ability to
successfully implement and fund the Project and the occurrence of
the expected benefits from the Project, including creation of jobs
and environmental benefits; and our and Ambri Inc.'s ability to
perform under the supply agreement. Statements concerning mineral
resource and mineral reserve estimates may also be deemed to
constitute forward-looking information to the extent that such
statements involve estimates of the mineralization that may be
encountered if a property is developed. 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 public review process of the
final ROD will proceed in a timely manner and as expected, and that
the final ROD will be published based on the USFS schedule; 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 formal 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 general business and economic conditions will not change
in a materially adverse manner and that permitting and operations
costs will not materially increase; that we will be able to
discharge our liabilities as they become due and continue as a
going concern; and that engagement, cooperation and collaboration
as contemplated under the MOU will follow the mutually agreed upon
schedule set out therein and proceed 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 other things, risks related to unforeseen
delays in the review and permitting process; 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 26, 2024 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.
Cautionary Statement Regarding Reserve and Technical
Information:
The reserve information in respect of the Stibnite Gold
Project in this press release, is based upon information contained
in the technical report titled "Stibnite Gold Project, Feasibility
Study Technical Report, Valley County,
Idaho" dated effective December 22,
2020 and issued January 27,
2021 (the "2020 Feasibility Study"), which is summarized in
the Company's Technical Report Summary ( "TRS"), dated as of
December 31, 2021, and amended as of
June 6, 2022. Such information is as
of December 30, 2020 and is subject
to the assumptions, exclusions and qualifications set forth in the
2020 Feasibility Study and the TRS. The 2020 Feasibility Study was
prepared in accordance with National Instrument 43-101 – Standards
of Disclosure for Mineral Projects and the TRS was prepared in
accordance with the mining property disclosure rules specified in
Subpart 1300 promulgated by the SEC. The 2020 Feasibility
Study and TRS are intended to be read as a whole and sections
should not be read or relied upon out of context.
The resource and technical information in respect of the
Sunshine Mine in this press release is based upon information
contained in the NI 43-101 compliant resource report, "NI 43-101
Technical Report Sunshine Mine, Idaho" prepared by SRK Consulting (U.S.),
Inc., effective date as of December 31,
2023, and is subject to the assumptions, exclusions and
qualifications set forth therein.
View original
content:https://www.prnewswire.com/news-releases/perpetua-resources-announces-continued-cooperation-with-us-antimony-302326148.html
SOURCE Perpetua Resources Corp.