U.S. Forest Service Comment Period Closes for Proposed Stibnite Gold Project with Strong Public Support
405 S 8th Street #201, Boise, ID 83702
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NEWS RELEASE
January 11, 2023
U.S. Forest Service Comment Period Closes for Proposed Stibnite Gold Project
with Strong Public Support
More than 15,000 positive comments received on Supplemental Draft Environmental Impact Statement
over 75-day comment period.
Conclusion of the comment period marks a major milestone in the permitting process.
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua”
or the “Company”) announced today the 75-day comment period on the Supplemental Draft
Environmental Impact Statement (“SDEIS”) for the Stibnite Gold Project (“Project”) concluded with more
than 15,000 letters submitted in support of the Project. This marks a major milestone in the permitting
process and moves the Company one step closer to a Final Environmental Impact Statement (“FEIS”) and
Record of Decision on the Project.
“The Stibnite Gold Project can secure the only domestic antimony reserve to protect our national security
and support America’s clean energy transition, restore an abandoned mine site and provide hundreds of
well-paying jobs to Idahoans. Today, we are proud to say we are one step closer to making all these
benefits a reality,” said Laurel Sayer, President and CEO of Perpetua Resources. “The momentum and
support behind our project grows stronger every day. We are grateful to the thousands of people who
took the time to participate in this comment period. Letters came in from the Idahoans who live closest to
the site, our vendors, recreational groups, lawmakers, veterans and more. While the reasons you support
our project are unique, collectively you delivered one clear message. It is time to move the Stibnite Gold
Project forward.”
When the comment period closed on January 10, 2023, there were over 18,000 comments in the United
States Forest Service (“USFS”) public letter portal, the majority of those were in support of the project. The
high level of participation in the comment period shows the interest in Perpetua Resources’ improved
Modified Mine Plan, which the USFS identified as the Preferred Alternative because of its improved water
quality, reduction in water temperature and ability to mitigate transportation impacts by utilizing the
Burntlog access route to site.
All of the comments submitted can be read in the USFS public reading room, found here:
https://cara.fs2c.usda.gov/Public//ReadingRoom?Project=50516. Below are a handful of letters,
showcasing the Project’s widespread support:
Willie Sullivan, Yellow Pine resident: “I have been closely following Perpetua Resources’ plans since
they first came into our state, in large part because some of the proposed project will take place on
public land and I am a resident of Yellow Pine, Idaho which is the closest community to the Stibnite
Mine… It was our group that came up with the proposed Burntlog route that we feel would serve the
mine, Village, and the environment best. Our process led to a larger advisory group which continues to
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function. I find Perpetua to be a company that honors its commitments and truly hopes to do the right
thing for those effected by their project.”
Terry Williams, President T & J Enterprises: “Perpetua’s plan to restore the Stibnite site while
creating hundreds of jobs for local communities should be approved immediately. As a small business
in a small rural community, much like those in Valley County, Idaho, we understand the challenges
facing working families these days…The Stibnite Gold Project would bring hundreds of these high-
paying jobs to the area and help hard working men and women support their families, buy houses, and
save for the future.”
Robert Workman, Cougar Mountain Snowmobile Club: “It is our sense that the Modified Mine Plan -
is the best path forward for Idaho. The area surrounding the historical Stibnite mining district is a major
draw for snowmobilers from across Idaho. As such, one of our top priorities-along with restoration of
the site-is to ensure that access for all recreational groups and individuals continues throughout this
project. Thanks to Perpetua's commitment to transparency and willingness to work with the
community, we are confident that those priorities will be met.”
Cecilia Tyler, Retired U.S. Army Colonel: “I could write volumes about why you should approve their
application but I want to focus on one aspect – antimony. The Federal Government has identified
antimony as a strategic mineral. Antimony is not mined anywhere in the United States but will be if
Perpetua’s application is approved. Antimony is needed for Information Technology products,
weapons systems, medical uses, a component of mobile phones, and countless other uses. Antimony
is critical to our national security.”
The USFS will now review the comments and finalize a schedule for the remainder of the NEPA process.
The Company continues to anticipate a FEIS and draft Record of Decision in mid-2023 based on the last
schedule published by the USFS.
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
Mckinsey Lyon
Vice President External Affairs
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 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
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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. Statements
contained in this news releas e 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 FEIS; the consideration of difference access routes; the anticipated timing for release of the 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; our and Ambri, Inc.’s ability to perform
under the supply agreement, which agreement is subject to certain conditions, including identific ation 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 c an 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 FEIS 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 r esults, 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 mate rially 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.