Perpetua Resources and Nez Perce Tribe Agree to Stay of Clean Water Act Litigation

Rhea-AI Summary

Perpetua Resources Corp. (OTCQX: MDRPF) and the Nez Perce Tribe have agreed to a 3-month stay of the Tribe's Clean Water Act lawsuit, allowing both parties to seek resolution through a court-ordered dispute process. The stay aims to facilitate discussions with a neutral mediator regarding potential pathways to resolve the legal dispute. Perpetua, focused on gold and antimony mining in Idaho's Stibnite-Yellow Pine district, emphasizes its commitment to environmental stewardship and community engagement.

Positive

• Agreement to a 3-month stay in litigation allows for potential dispute resolution.
• Focus on gold-antimony-silver deposits in a high-grade mining area in the U.S.

Negative

• Ongoing lawsuit may create uncertainty for stakeholders.

BOISE, Idaho, Feb. 17, 2021 /PRNewswire/ - Perpetua Resources Corp. (formerly Midas Gold Corp.) (TSX: MAX) (OTCQX: MDRPF) ("Perpetua Resources" or the "Company") released the following statement regarding an agreement with the Nez Perce Tribe to stay the Tribe's Clean Water Act lawsuit:

"The Nez Perce Tribe and Perpetua Resources (previously Midas Gold) have jointly moved for a 3-month stay of the Tribe's Clean Water Act lawsuit while they pursue a Court-ordered dispute resolution process. The litigation stay will allow the parties to work with a neutral judge or mediator to determine if there are grounds to work out a resolution of the lawsuit."

A copy of today's filing can be found here.

Website: www.perpetuaresources.com

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. Antimony is a federally designated critical mineral for its use in the national defense, aerospace and technology sectors. 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.

View original content:http://www.prnewswire.com/news-releases/perpetua-resources-and-nez-perce-tribe-agree-to-stay-of-clean-water-act-litigation-301230447.html

SOURCE Perpetua Resources Corp.

FAQ

What is the recent agreement between Perpetua Resources and the Nez Perce Tribe?

Perpetua Resources and the Nez Perce Tribe have agreed to a 3-month stay of the Tribe's Clean Water Act lawsuit to pursue court-ordered dispute resolution.

How does the litigation stay affect investors in MDRPF?

The stay aims to resolve legal disputes, which may stabilize investor sentiment but ongoing lawsuits can still create uncertainty.

What are the implications of the Clean Water Act lawsuit for Perpetua Resources?

The lawsuit could impact operational timelines and investor confidence, highlighting the need for effective resolution.

What does Perpetua Resources focus on in its mining operations?

Perpetua Resources is focused on mining gold and antimony, particularly in the Stibnite-Yellow Pine district in Idaho.