Perpetua cheers Stibnite project's move to development

Executive Summary

• Perpetua Resources received a conditional notice to proceed from the U.S. Forest Service, allowing the Stibnite Gold project to move into development pending financial assurance.
• The project, backed by $80 million in Department of Defense funding, is slated to become the United States’ only domestic source of antimony and will also produce ~4.8 M oz gold reserves with an initial annual output of ~450,000 oz gold.
• Early‑works construction is expected to start this fall, creating ~950 construction jobs and >550 permanent operations jobs; the company also announced a $350,000 charitable contribution to the newly formed Stibnite Foundation.

Key Details

• Conditional Notice to Proceed: U.S. Forest Service delivered a conditional notice confirming Perpetua has satisfied the Record of Decision requirements; project may advance upon posting required financial assurance.
• Funding & Strategic Importance: Project is a FAST‑41 Transparency initiative and has received $80 M in DoD funds to support domestic antimony production for national security.
• Antimony Supply Outlook: Expected to supply up to 35 % of U.S. antimony demand during the first six years of operation (based on 2025 USGS estimates).
• Gold Reserves & Production: Approximately 4.8 M oz gold reserves; projected annual production of ~450,000 oz gold for the first four years.
• Job Creation: >950 jobs anticipated during construction phase; >550 permanent jobs during operations.
• Environmental Remediation: Over $20 M spent to improve water quality; 375,000+ tons of legacy waste and tailings have been removed.
• Community Investment: $350,000 check presented to the Stibnite Foundation; total donations to date $750,000 plus 150,000 company shares pledged for future profit‑sharing.
• Key Attendees & Statements: Idaho Governor Brad Little, USDA Deputy Undersecretary Kristin Sleeper, U.S. Army Major General John Reim, and U.S. Senator James Risch highlighted the project's strategic and economic significance.

Notable Quotes

• “American readiness starts here,” – Jon Cherry, President & CEO, Perpetua Resources.
• “The Stibnite project currently holds the largest identified reserve of antimony in the U.S.… it offers a secure, reliable domestic resource for military‑grade antimony sulphide.” – Maj. Gen. John T. Reim, Picatinny Arsenal Commanding General.
• “A strong domestic supply of critical minerals is vital to America’s future… I am proud that Idaho is at the forefront of this effort.” – Sen. James Risch (R‑ID).