Supplemental Draft Environmental Impact
Statement publication anticipated in early Q3 2022.
Amidst heightened geopolitical tensions, new
US Government report indicates U.S. foreign reliance on
China and Russia for critical mineral antimony continues
to grow.
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, Idaho, Feb. 22, 2022 /PRNewswire/ - 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 and comment in early Q3
2022.
Supplemental DEIS Progress
During the last 18
months, the USFS and cooperating agencies have performed an
extensive review of Perpetua's refined proposed action. In this
time, the USFS has made substantial progress in analyzing the
project refinements and preparing chapters of the preliminary SDEIS
for interagency review. Perpetua anticipates the preliminary SDEIS
will be circulated for cooperating agency review in Q2 2022 with a
public release of the SDEIS to follow shortly thereafter.
In support of the USFS's preparation of the Supplemental DEIS,
Perpetua has responded to more than 850 comments and numerous
requests for additional information, including additional water
modeling, sensitivity analyses, fisheries modeling, and habitat
analysis. The USFS has also nearly completed all of the 17
specialist reports for cooperating agency review. Perpetua is
confident that the additional evaluation contained within the SDEIS
will directly address issues raised during the public review of the
2020 Draft Environmental Impact Statement ("DEIS") and believes the
additional analysis and detailed review will lead to the USFS
designating a preferred alternative in the SDEIS.
"For over a year, the Perpetua team has worked diligently with
regulators to incorporate public feedback into our proposed project
design," said Laurel Sayer,
President and CEO of Perpetua Resources. "We are eager to show how
our improvements are designed to leave water quality and overall
habitat in this historic mining district in better shape than they
are in today while also responsibly producing the mineral and
metals critical for our national interests. We anticipate the hard
work and commitment to a thorough and transparent process will pay
dividends as our project advances."
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 the National
Environmental Policy Act ("NEPA"). The USFS is expected to provide
a formal schedule update later this year and Pepertua remains
committed to supporting a thorough and efficient NEPA process by
the USFS.
Critical Project for the American 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.
As a strategic defense mineral and a key component for grid
storage battery technology, securing a domestic supply of antimony
is more important than ever. The U.S. Geological Survey recently
reported that foreign reliance is growing, with China, Russia
and Tajikistan controlling 90% of
the world supply of antimony and no domestically mined sources
(USGS, 2022 Mineral Commodity Summary).
"Responsible mining is the first link in a more resilient and
secure supply chain," said Laurel
Sayer, President and CEO of Perpetua Resources. "We are
taking actions to ensure the environmental and social outcomes of
the Stibnite Gold Project meet the demand for a responsible source
of antimony to secure our nation's defense and energy supply
chains."
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.
Website: www.perpetuaresources.com
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 the USFS, the State
of Idaho and other government agencies and regulatory
bodies; plans with respect to the issuance of an SDEIS; the
consideration of difference access routes; the anticipated timing
for release of the SDEIS, 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;
disclosure regarding our funding capacity and requirements for
additional 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. 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 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.
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.
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SOURCE Perpetua Resources Corp.