BOISE,
Idaho, Nov. 14, 2022 /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
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.
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. 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.
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SOURCE Perpetua Resources Corp.