Benzinga | May 3, 2021 08:47AM EDT

Perpetua Resources Signs Collaboration Agreement with U.S. Antimony to Explore Potential to Process Antimony from the Stibnite Gold Project

Perpetua Resources Corp. (Nasdaq: PPTA) (TSX:PPTA) ("Perpetua Resources" or the "Company") announces it has signed a collaboration agreement (the "Agreement") with United States Antimony Corporation (NYSE:UAMY)("USAC") to study the potential for processing the Stibnite Gold Project's antimony concentrate at USAC's processing facilities. Perpetua Resources is in the process of permitting America's only mined source of antimony. It is estimated the Stibnite Gold Project has the potential to supply approximately 35 percent of American antimony demand in the first six years of production1.

"Critical minerals are the building blocks of a strong domestic supply chain and play a key role in our transition to a greener economy," said Laurel Sayer, CEO of Perpetua Resources. "America has the brainpower, spirit of innovation and work ethic to continue to solve some of the world's toughest problems. However, we lack the minerals and materials we need to bring those solutions to life. Perpetua Resources can play a key role in re-establishing domestic antimony production and protecting America's energy, technology and defense future."

The Agreement outlines a plan for the Company to send samples of Stibnite's antimony concentrate to the facilities owned by USAC to study the viability of entering into a long-term partnership to secure the domestic sourcing of the critical mineral antimony.