Since the creation of the Community Agreement dated November 30, 2018, the Stibnite Foundation has completed the following:
- Within 90 days of the effective date of the Community Agreement, Perpetua Resources established the Stibnite Foundation and applied for status as a non-profit organization.
- On August 20, 2019, the Stibnite Foundation received their letter of ruling as a non-profit organization from the IRS.
- Stibnite Foundation funding has not been used to address direct impacts of the Stibnite Gold Project.
- The Stibnite Foundation has awarded funding in 2020 and 2021 for projects that provide benefits to the Communities of the region.
- Each party to the Community Agreement has designated an individual to serve a one-year term on the Board of the Stibnite Foundation and they have helped determine the distribution of funds in accordance with the Bylaws of the Stibnite Foundation.
- The Board members of the Stibnite Foundation have created By-Laws governing the Stibnite Foundation.
- Within 60 days of the formation of the Stibnite Foundation, in accordance with the Community Agreement, Perpetua Resources made an initial grant to the Stibnite Foundation of $100,000 and 1.5 million shares of Perpetua Resources Corp.
- In the first quarter of 2019 and in the first quarter of 2020, Perpetua Resources made additional grants of $100,000 to the Stibnite Foundation.
- In April 2020, Stibnite Foundation gave emergency grants to non profit organizations in each community represented in the Community Agreement. The total amount given in emergency grants was $14,000.
- In August 2020, Stibnite Foundation gave grants totaling $50,487 to 14 different non profit organizations in the region.
- In August 2021, Stibnite Foundation gave grants totaling $36,000 to 10 different non profit organizations in the region.
- As of October 14, 2021, Stibnite Foundation has $203,944.68 in cash and 150,000 shares of Perpetua Resources stock valued at $750,000.
- The next grant cycle for Stibnite Foundation will begin on April 1, 2022. The grant application will be available online at the Stibnite Foundation website.
This report was approved by the Stibnite Foundation Board on October 14, 2021.