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Perpetua Resources Awards Contract For Early Cleanup Activities At Historical Mine Site

Perpetua Resources Corp. (NASDAQ:PPTA) (TSX:PPTA) ("Perpetua Resources" or "Perpetua" or the "Company") announced today that it selected IMCO Construction ("IMCO") as a partner to

Benzinga · 06/09/2022 08:45

Perpetua Resources Corp. (NASDAQ:PPTA) (TSX:PPTA) ("Perpetua Resources" or "Perpetua" or the "Company") announced today that it selected IMCO Construction ("IMCO") as a partner to begin water quality improvements in the historical Stibnite mining district from July to October 2022. Based in Washington with a regional office in Boise, IMCO is a nationally recognized, award winning firm with technical expertise in industrial, hydro, transportation, water and wastewater construction projects.

Water quality at the abandoned Stibnite site has been degraded by elevated levels of arsenic and antimony from millions of tons of unconstrained tailings and other mine waste left behind by previous operators over the last 100 years. Perpetua has been granted permission from the Environmental Protection Agency ("EPA") and the United States Department of Agriculture ("USDA") to conduct time critical early action cleanup activities. Perpetua has been committed to site restoration as part of the Company's vision and looks forward to taking meaningful steps to improve water quality.

"Action to improve water quality at Stibnite has been needed for decades," said Laurel Sayer, CEO of Perpetua Resources. "As we break ground on the first phase of early cleanup efforts this summer, IMCO brings a track record of successfully executing complex projects safely and a set of shared values. Isolating streams away from historically contaminated material is a first step in fulfilling our goal of leaving the area better than it is today and demonstrates that responsible partnerships with private industry can benefit the environment and people of Idaho."

IMCO Construction specializes in environmentally sensitive construction projects, working in remote locations for clients throughout Washington, Idaho, Oregon, Montana and beyond. From pre-construction through commissioning and operation, IMCO brings collaborative solutions and strong teamwork rooted in the core values of integrity, excellence, and family, and a relentless commitment to safety. IMCO was selected by Perpetua after a competitive bidding process.

"Our team is thrilled to partner with Perpetua Resources to begin cleanup activities at Stibnite this summer." said Tyler Kimberley, President & CEO of IMCO Construction. "We understand the demands of working in sensitive backcountry environments. We look forward to bringing our commitment and technical expertise to protecting these critical environmental assets. We are proud to support Perpetua's vision of restoring a brownfields site."

In 2021, Perpetua Resources, the EPA and USDA signed an Administrative Settlement Agreement and Order on Consent ("ASAOC" or "Agreement"), giving Perpetua permission to voluntarily clean up key areas of the historical Stibnite mining district that would not otherwise be remedied by the additional legacy restoration proposed in the Stibnite Gold Project. Phase One of the Agreement provides a four-year period to conduct "time critical" cleanup actions designed to improve water quality. The remaining phases in the Agreement would allow for a more comprehensive remediation of the historical mining district should the Stibnite Gold Project receive permission to proceed upon conclusion of the National Environmental Policy Act ("NEPA") review.