Idaho Congressional Delegation calls for
timely permitting for critical mineral projects in response to
Russia's invasion of Ukraine and America's overreliance on foreign
adversaries.
More than 75% of antimony production
controlled by China and
Russia.
Stibnite Gold Project is designed to restore
an abandoned mine site while responsibly producing gold and the
only domestically mined source of antimony, essential for clean
energy and defense materials.
BOISE, Idaho, March 11, 2022 /PRNewswire/ - Perpetua Resources
Corp. (Nasdaq: PPTA) (TSX: PPTA) ("Perpetua Resources" or
"Perpetua" or the "Company") strongly supports the Idaho
Congressional Delegation's united call for domestic critical
mineral production including the timely completion of permitting
reviews necessary for development of Idaho's critical mineral resources which will
bolster our Nation's economic independence and security amid
geopolitical instability and unprecedented supply chain
disruptions.
In floor remarks delivered this week, Senators Mike Crapo and Jim
Risch along with Congressmen Mike
Simpson and Russ Fulcher
resolutely called for action on critical mineral supply chains and
pointed to the need to advance proposed projects that would tap
into Idaho's vast antimony and
cobalt resources. Perpetua Resources' Stibnite Gold Project has one
of the world's largest resources of antimony not controlled by
China or Russia and could provide the only domestically
mined source of a critical mineral deemed essential for clean
energy battery storage technology and the Nation's defense
needs.
"While we need to take strong actions on Russia, the reality is that we source many of
our raw minerals from them. As we tighten our grip on their
financial system and exports, we must prioritize domestic sourcing
and reduce our reliance on countries like Russia and China," said the Idaho delegation. "The time is now for this
Administration to take real action to prioritize a strong domestic
supply chain for these essential minerals. We do not want to
compromise any of our environmental or other standards. We are
simply calling on the Administration to prioritize the timely
completion of the permits for currently proposed projects so we may
take back control of a fundamental piece of many of our essential
industries: critical minerals production."
"The need for responsible domestic mining to secure our
economic, defense, and energy future is not lost on the people of
Idaho or the American people,"
said Laurel Sayer, President &
CEO of Perpetua Resources. "Perpetua is fortunate to have a
congressional delegation that recognizes a safe, reliable, and
responsible supply chain starts right here at home and supports the
growing bipartisan unity to encourage domestic mineral
production. Our vision at Perpetua Resources has always been
to restore an abandoned mine site while producing the critical
resources our Country needs for a more secure and sustainable
future. Now, more than ever, turning this vision into reality is
vital for our Nation's success. As we enter the later stages of
permitting, we are confident that the robust review process has
created improved project outcomes while also prioritizing community
and stakeholder transparency."
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.
With key applications in energy and defense technology, securing
a domestic supply of antimony is more important than ever. Antimony
is a key component for grid storage battery technology and
Perpetua is uniquely positioned to play a vital role in the
decarbonization of the world through its supply agreement with
Ambri. Vital to defense materials, antimony was listed by the
Department of Defense as a shortfall material in the 100-Day Supply
Chain Review Report (June 2021).
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).
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
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, the U.S. Federal government and other
government agencies and regulatory bodies; plans with respect to
the Stibnite Gold Project and the success of such project;
and 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. 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 unforeseen delays in the
review process; 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
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" section 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.