Perpetua Resources’ Stibnite Gold Project approved by U.S. Forest Service

Perpetua Resources announced that the U.S. Forest Service – USFS – has completed the Final Environmental Impact Statement and is issuing a Draft Record of Decision authorizing the Stibnite Gold Project. Based on the USFS schedule published in July, the Final Record of Decision is anticipated by the end of 2024. The decision comes after the completion of interagency permitting review, scientific evaluation, and public input. The Project is designed to provide environmental benefits to an abandoned mine site while producing gold and unlocking the only reserve of antimony within the U.S. Perpetua’s Stibnite Gold Project is positioned to be one of the highest-grade open pit gold projects in the United States with 4.8M ounces of estimated gold reserves. The Project is expected to produce over 450K ounces of gold annually over the first four years with all-in sustaining costs under $450 per gold ounce based on the 2020 Feasibility Study. As a by-product of gold production, the Project has a reserve of 148 million pounds of antimony. Antimony is essential for national defense, clean energy and technology applications, yet no domestically mined supply currently exists. Beginning on September 15, China, which is responsible for nearly half of all global mined antimony output and dominates global refinement and processing, has announced that it will restrict antimony exports.