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Perpetua Resources Corp
Symbol PPTA
Shares Issued 64,123,456
Close 2024-03-26 C$ 5.48
Market Cap C$ 351,396,539
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Perpetua Resources files 2023 results

2024-03-27 11:14 ET - News Release

Mr. Jon Cherry reports

PERPETUA RESOURCES ANNOUNCES FULL YEAR 2023 AND RECENT HIGHLIGHTS

Perpetua Resources Corp.'s annual report on Form 10-K for the year ended Dec. 31, 2023, which includes its audited consolidated financial results for the period ended Dec. 31, 2023, 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 ("Stibnite Gold Project" or "Project") through the National Environmental Policy Act ("NEPA") process and construction readiness for the Project.

Full Year 2023 Highlights:

Zero lost time incidents or reportable environmental spills.

The 75-day comment period on the Supplemental Draft Environmental Impact Statement for the Stibnite Gold Project concluded with more than 15,000 letters submitted in support of the Project.

Added to the Russell 2000(TM) Index and the broad-market Russell 3000(TM) Index.

Held 2023 Annual General Meeting and shareholders voted in favor of all proposals.

Published 2022 Sustainability Report, the Company's tenth annual sustainability report.

Signed definitized Technology Investment Agreement ("TIA") for critical minerals award of $24.8 million under Title III of the Defense Production Act ("DPA").

Clean Water Act Settlement Agreement with the Nez Perce Tribe filed in the U.S. District Court for the District of Idaho.

Continued voluntary legacy waste cleanup and water quality improvement actions in historical Stibnite Mining District.

Appointed Vice President of Projects to lead the Stibnite Gold Project.

Awarded up to $15.5 million in DOD funding to demonstrate a fully domestic antimony trisulfide supply chain.

Recent Highlights:

Appointed mining veteran Jon Cherry as new President and CEO and to the Board of Directors.

Appointed Jessica Largent, Chief Financial Officer, to the Board of Directors.

Received $8.5 million in cash from Franco-Nevada Idaho Corporation ("Franco-Nevada") through a new royalty agreement for net smelter return royalty on future payable silver production from the Project properties to Franco-Nevada.

Awarded additional conditional funding of up to $34.6 million under the TIA.

"Perpetua Resources finished 2023 with strong momentum after achieving significant permitting milestones and advancing the Stibnite Gold Project towards a construction decision with the support of government funding," said Jon Cherry, President and CEO of Perpetua Resources. "I joined Perpetua to build on the already strong foundation, and to lead the company's next phase of growth as we approach the end of the permitting process and advance towards construction. I am confident in the path forward for Perpetua and believe this project is uniquely positioned to be the next world-class development project in the United States with critical mineral production."

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 U.S.-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. Perpetua Resources has been awarded a TIA of up to $59.4 million in DPA Title III 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 .

We seek Safe Harbor.

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