Perpetua Resources Announces Full Year 2022 Highlights
405 S 8th Street #201, Boise, ID 83702
Responsible Mining. Critical Resources. Clean Future.
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NEWS RELEASE
March 17, 2023
Perpetua Resources Announces Full Year 2022 Highlights
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or
the “Company”) announced today that its Annual Report on Form 10 -K for the year ended December 31,
2022 (the “Annual Report”), which includes its audited consolidated financial results for the perio d ended
December 31, 2022, was 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.
Full Year 2022 Highlights:
• Zero lost time incidents or reportable environmental spills
• Awarded up to $200,000 in United States Department of Defense funding to study antimony from
the Stibnite Gold Project
• United States Forest Service (“USFS”) published the Supplemental Draft Environmental Impact
Statement which identified Perpetua Resources’ proposed action as the Preferred Alternative (as
defined below)
• Awarded a Technology Investment Agreement (“TIA”) of up to $24.8 million under Title III of the
Defense Production Act (“DPA”)
• 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
• Received the Clean Air Act Permit to Construct from the Idaho Department of Environmental Quality
• Strengthened the Board of Directors with appointment of Laura Dove who brings three decades of
external affairs and stakeholder management experience to Perpetua
• Welcomed value-oriented Kopernik as a new shareholder
• Awarded contract for stream diversion work as part of Phase 1 early cleanup activities
• Published 2021 Sustainability Report, the Company’s ninth annual sustainability report
• Launched Sustainability Roadmap which outlines 13 goals to guide the Company as it advances the
Stibnite Gold Project
• Promoted Jessica Largent t o CFO and further strengthened team with hiring of Chris Fogg as
Manager of Investor Relations
• Held 2022 Annual General Meeting and shareholders voted in favor of all proposals
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“Perpetua Resources finished 2022 on strong footing with enhanced attention on our antimony as a critical
defense material, permitting progress, and real action to improve environmental conditions at Stibnite,”
said Laurel Sayer, President and CEO of Perpetua Resources. “We received multiple funding grants through
the Department of Defense to study production of military-grade antimony trisulfide, continue through the
permitting process, and advance construction readiness for our project. We also strengthened our team
and completed early restoration activities to improve water quality during the 2022 field season. I am
incredibly proud of our team and recent accomplishments and look forward to continued success in 2023
and beyond.”
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 closed on January 10, 2023. Now that the comment period is complete
and analysis is underway, Perpetua expects the USFS to provide a schedule update in the second quarter
of 2023, including the expected timing for a final Record of Decision.
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 low-cost liquid metal battery
essential for the low-carbon energy transition. In addition to the company’s commitments to transparency,
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accountability, environmental stewardship, safety and community engagement, Perpetu a 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 decisi on.
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. 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 updates from the USFS related to the Stibnite Gold Project ; 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 impr ovements; 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, n ational 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 severa l 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 ex pected;
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) 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 ri sks, 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 t o 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 t hose 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, including the Annual Report, 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.