BOISE,
Idaho, Jan. 27, 2025 /PRNewswire/ -- Perpetua
Resources Corp. (Nasdax: PPTA / TSX: PPTA) ("Perpetua Resources" or
"Perpetua" or the "Company") today praised Idaho Governor Brad
Little's Executive Order 2025-02, the Strategic Permitting,
Efficiency, and Economic Development ("SPEED") Act. This landmark
measure establishes a SPEED Council to improve coordination among
state agencies, reduce permitting delays, and drive forward
projects that promote energy independence, national security, and
economic growth.
The SPEED Act is a testament to Idaho's leadership in responsible resource
development and recognition that streamlined permitting can go
hand-in-hand with rigorous environmental standards.
The SPEED Act is a crucial step toward advancing critical
projects like the Stibnite Gold Project ("Project"). Once in
operation, the Project is expected to provide an average of 550
jobs to rural Idaho and a reliable
domestic source of the critical mineral antimony, which is vital
for defense, technology, and energy applications. With an estimated
reserve of 148 million pounds of antimony, the Project could meet
up to 35% of U.S. antimony demand in its initial six years of
production, significantly reducing reliance on foreign supply
chains. In late 2024, China —
which is responsible for nearly half of all mined antimony output
worldwide — cut off antimony exports to the U.S. The Stibnite Gold
Project stands to greatly bolster the
United States' efforts to reduce its reliance on foreign
antimony producers and suppliers and strengthen its strategic
mineral security.
"We are thrilled to see Governor Little take decisive action to
streamline permitting without compromising environmental
integrity," said Jon Cherry,
President and CEO of Perpetua Resources. "The SPEED Act aligns
perfectly with Perpetua's vision to restore an abandoned mine site
and responsibly develop domestic mineral resources for a more
secure future."
"The SPEED Act exemplifies Idaho's common sense, forward-thinking
leadership," said Ben Davenport,
Executive Director of the Idaho Mining Association. "We hope that
by improving communication and coordination, Idaho can help vital projects like the
Stibnite Gold Project deliver hundreds of well-paid and
highly-skilled jobs to our rural communities."
"Idaho's SPEED Act is a model
for the nation," said Mark Compton,
Executive Director of the American Exploration & Mining
Association. "With enhanced coordination and reduced
inefficiencies, Idaho projects
like the Stibnite Gold Project can better deliver the critical
minerals our nation needs while safeguarding the environment."
The SPEED Act reflects Idaho's
commitment to balancing economic growth with environmental
responsibility. With Idaho's vast
mineral resources, the state can continue its leadership in
supporting projects that bolster national security and energy
independence.
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
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 anticipated effects of the
SPEED Act; the expected outcomes of the Stibnite Gold Project,
including our reserves and resources; our ability to comply with
and obtain permits related to the Stibnite Gold Project; 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 remaining permits will be
issued in a timely manner and as expected; and 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.
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, 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, 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 reserves 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. Data regarding domestic
antimony reserves based on U.S. Geological Survey, Mineral
Commodity Summaries, dated as of January
2024.
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SOURCE Perpetua Resources Corp.
