Perpetua Resources Corp. press release

Champion Bear encounters visible gold drilling at its Plomp Farm property, Dryden area

2007-06-27

NASDAQ - Nasdaq Stock Market · Gold · Antimony · Silver · United States

(TSX Venture: CBA)

CALGARY, June 27 /CNW/ - Champion Bear Resources Ltd. ("Champion Bear") is pleased to report that its first deep "wedge" hole encountered visible gold. Assaying confirms 71.6 g Au /t, 6.0 g Ag /t and 141 ppm Cu, over a core length of 0.4 metres from 623.6 to 624.0 metres. Table 1 below shows the distribution of anomalous Au (gold), Ag (silver), Cu (copper), Zn (zinc), Pb (lead) and Ba (barite) throughout the main mineralized zones. Hole PF-07-119W1 was a wedge hole testing the mineralized zone approximately 15 metres up dip from previous hole PF-06-119, which encountered 31.7 g Au/t, 33.3 g Ag/t and 1.36% Cu for a core length of 0.4 metres from 579.0 to 579.4 metres.

Table 1 - Hole PF-07-119W1 Selected Intervals Plomp Farm Property

Au Au Ag Cu Zn Pb Ba Sam- Width ppb g/t ppm/ ppm ppm ppm ppm ple From To (met- FA- (g/t) TD- TD- TD- No. (metres) (metres) res) INAA GAA TD-ICP ICP ICP ICP INAA A17744 591.0 592.0 1.0 196 0.2 3 437 294 89 2800 A17745 592.0 592.5 0.5 854 1.16 13 1380 301 87 1800 A17746 592.5 593.0 0.5 912 1.08 16 1450 363 44 2200 A17747 593.0 593.5 0.5 902 0.93 11 1080 1250 80 6800 A17748 593.5 594.1 0.6 893 0.97 15 1990 300 69 2100

A17767 612.0 613.0 1.0 1210 1.13 12 1590 863 31 5760 A17768 613.0 614.0 1.0 174 0.17 1.8 149 276 32 9000 A17769 614.0 615.0 1.0 208 0.1 5 260 243 40 2610 A17770 615.0 616.0 1.0 156 0.13 3 129 98 32 1260 less than A17771 616.0 617.0 1.0 174 0.03 2.7 197 229 41 1350 A17772 617.0 618.0 1.0 175 0.07 3 266 280 56 1890 A17773 618.0 619.0 1.0 239 0.13 3 183 442 24 2700 A17774 619.0 620.0 1.0 116 0.07 1.2 99 92 18 3330 A17775 620.0 621.1 1.1 141 0.13 2.3 168 119 19 1270 A17776 621.1 622.0 0.9 106 0.03 1.8 81 49 11 910 less than A17777 622.0 623.0 1.0 68 0.03 1.4 94 39 7 640 A17778 623.0 623.7 0.7 162 0.03 1.6 126 31 12 760 greater than A17779 623.7 624.1 0.4 30000 71.06 6 141 61 21 750 A17780 624.1 625.0 1.0 215 0.07 1.1 84 82 15 1100 less than A17781 625.0 626.0 1.0 110 0.03 1.4 94 84 22 910 less than A17782 626.0 627.0 1.0 55 0.03 5 96 55 12 580 A17783 627.0 628.0 1.0 109 0.07 2.1 221 62 17 820 A17784 628.0 629.0 1.0 155 0.1 2.4 136 61 35 990 less than A17785 629.0 630.0 1.0 184 0.03 3.3 290 288 66 1500 A17786 630.0 631.0 0.0 227 0.19 2.4 386 177 52 1200

Champion Bear is encouraged by this intersection, which confirms that zones of higher-grade gold are present within this large mineralized system. Two other wedge cuts have been completed from the original hole, one to the east and one at greater depth. Assays will help determine the parameters and define the controls to the high grade gold mineralization.

Hole PF-07-119W2 the second wedge cut, approximately 12 metres to the east of original hole PF-06-119 encountered anomalous gold, silver, copper, zinc and barite mineralization typical of the main mineralized structure (see Table 2).

Table 2 - Hole PF-07-119W2 Selected Intervals Plomp Farm Property

Au Au Ag Cu Pb Zn Ba ppb ppb ppm ppm ppm ppm ppm From To Width MULT MULT Sample (met- (met- (met- INAA/ TD- TD- INAA/ No. res) res) res) INAA FA-AA TD-ICP ICP ICP TD-ICP INAA

A18060 570.20 570.70 0.5 262 283 2.7 735 13 2420 1700 greater than A18061 570.70 571.20 0.5 892 1120 17 1540 11 10000 1500

A18088 594.0 595.0 1.0 287 235 3.2 325 49 538 3600 A18089 595.0 596.0 1.0 338 264 4.4 494 48 387 2400 A18090 596.0 597.0 1.0 218 190 3.2 344 112 1270 1700 A18091 597.0 598.0 1.0 888 897 8.5 1160 77 1240 1600 A18092 598.0 599.0 1.0 606 560 8.4 1050 45 260 2700

A17814 620.0 621.0 1.0 159 - 3.7 271 23 146 4100 A17815 621.0 622.0 1.0 177 - 3.8 253 29 254 1300 A17816 622.0 623.0 1.0 162 - 2.5 184 25 231 1800 A17817 623.0 624.0 1.0 137 - 2.6 175 23 168 2000 A17818 624.0 625.0 1.0 189 - 3 206 16 140 2500 A17819 625.0 626.0 1.0 129 - 1.9 106 14 101 1800 A17820 626.0 627.0 1.0 97 - 1.3 112 14 86 1100 A17821 627.0 628.0 1.0 136 - 1.6 196 12 91 1100 A17822 629.0 630.0 1.0 135 - 1.4 103 14 81 1700 A17823 630.0 631.0 1.0 173 - 1.7 206 10 111 1000 A17824 631.0 632.0 1.0 239 - 1.6 226 12 92 1200 A17825 632.0 633.0 1.0 175 - 2.7 393 16 67 1000 A17826 633.0 634.0 1.0 121 - 1.8 220 11 54 740 A17827 634.0 635.0 1.0 89 - 1.7 275 14 63 910 A17828 635.0 636.0 1.0 93 - 1.9 187 19 43 650 A17829 636.0 637.0 1.0 129 - 2.8 254 66 109 1700 A17830 637.0 638.0 1.0 216 - 2.1 246 85 182 2300 A17831 638.0 639.0 1.0 249 - 2.1 257 81 203 3500

Anomalous gold mineralization was also encountered 700 to 1,100 metres west of the main Plomp Farm zone along the same mineralized structure and on the Plomp Farm East claims eight kilometers to the east of the main zone.

Table 3 shows the distribution of anomalous gold, silver, zinc and copper mineralization in hole PF-07-126 drilled 700 metres west of hole PF-06-119. Anomalous mineralization encountered in hole PF-07-125 drilled 500 metres further to the west of hole PF-07-126 was less intense.

Table 3 - Hole PF-07-126 Selected Intervals Plomp Farm Property

Au Ag Cu Zn Pb ppb g/t ppm ppm ppm TD- TD- TD- TD- Sample From To Width INAA ICP ICP ICP ICP No. (metres) (metres) (metres) Au Ag Cu Zn Pb A17649 171.0 172.0 1.0 29 0.6 27 113 13 A17650 172.0 173.0 1.0 35 0.6 48 435 13 A17651 173.0 174.0 1.0 46 0.9 57 348 14 A17652 174.0 175.00 1.0 91 0.8 208 397 20 A17653 175.00 176.00 1.0 78 1.1 285 1430 16 less less than than A17654 176.00 177.00 1.0 2 0.3 12 50 8 A17655 177.00 178.00 1.0 9 0.3 10 51 10 less than A17656 178.00 179.0 1.0 2 1 4 40 12 less than A17657 179.0 180.0 1.0 2 0.5 6 40 13 less than A17658 180.0 181.0 1.0 2 1.2 12 160 13 A17659 181.0 182.0 1.0 278 1.9 403 1890 38

Geochemically anomalous gold was encountered in two surface trenches on the Plomp Farm East block on lines 95+35 and 94+90 and in two of three preliminary test holes drilled on line 95+00E and 105+00E on the east grid. The trench results show anomalous gold values in association with arsenopyrite (see Table 4).

Table 4 - Surface Trench Results from Plomp Farm East Claims

Zn Au Ag Cu Pb ppm As ppb ppm ppm ppm MULT ppm Channel MULT INAA/ Sample Dimens- INAA/ TD- TD- No. Grid X Grid Y ions cm INAA TD-ICP ICP TD-ICP ICP INAA 17631 95+35E 152N 130x10x5 165 0.3 33 13 57 10900 less than 17632 95+35E 152N 70x14x5 21 0.3 40 12 67 33.1 less than 17633 95+35E 152N 70x14x5 31 0.3 15 8 64 54.6 less less than than 17634 94+90E 152N 120x4x5 7 0.3 24 3 87 5 less less than than 17635 94+90E 152N 115x7x5 33 0.3 28 3 79 5.4 less less less than than than 17636 94+90E 152N 100x7x5 2 0.3 22 3 68 9.1

Drill holes PFE-07-02 and PF-07-03 tested two IP anomalies in the southern part of the grid approximately 100 metres east of the trenches. Hole PFE-07-03 located at 0+60N on line 96+00E drilled north at -48 degrees encountered 10-15% sulphides (pyrrhotite and pyrite) between 113 and 135 metres (the IP anomaly) and sporadic anomalous gold in the range of 2-75 ppb Au, with 0.3-1 ppm Ag and 40-122 ppm Zn. No significant mineralization was encountered in hole PFE-07-03 located at 0+88N on line 95+89E drilled south at -48 degrees which was drilled to test mineralization near the collar of PF-07-02.

Hole PFE-07-01 located at 0+92N on line 105+00E drilled north at -50 degrees was drilled to test an IP anomaly. The hole encountered 5-15% sulphides (locally up to 50%), mostly pyrrhotite, with anomalous gold, silver, and zinc in the range of 2-65 ppb Au, 0.3-3.2 ppm Ag and 98-157 ppm Zn in a sheared zone between approximately 190 and 198 metres.

Detailed mapping and surface sampling along the entire three-kilometre section of this structure is currently in progress. The remaining additional four kilometres further to the east is scheduled for initial prospecting later this summer.

Based on the anomalous gold mineralization encountered to date along this mineralized structure Champion Bear believes that their entire 14 kilometre strike length of this structure warrants further detailed exploration.

Diamond drilling, field mapping and sampling programs were carried out by Watts, Griffis and McOuat Limited personnel, under the field supervision of WGM senior geologist J. Smolen, P. Geo.

Core samples were cut with a diamond saw and one-half of the core has been retained in storage for future testing and data confirmation. Channel samples were cut with a portable masonry saw and chipped out with a chisel. All samples were tagged and sealed in plastic bags after cutting. Sealed plastic bags were personally delivered to the shipper for delivery to Activation Laboratories in Ancaster, Ontario.

All samples were analysed for base and precious metals using the following assay procedures, INAA (Instrumental Neutron Activation Analysis) and TD-ICP (Total digestion with Inductively Coupled Plasma), including Zn, Pb, Cu, Ni, Co, Ag, As, Bi, Ba, and W. The high grade gold samples were re-assayed using FA-GRA (Fire Assay with Gravimetric finish) to confirm the gold analyses.

The QP for the technical aspects of this news release is Joe Hinzer, P. Geo., President of WGM.

Champion Bear is a mineral exploration company focused exclusively on the historically prospective regions of Ontario. The Company's primary target is platinum group and precious metals and to a lesser extent polymetallic base metal and pegmatite-hosted tantalum deposits. Champion Bear's aim is to create shareholder value through selective property acquisition and joint venture followed by focused exploration emphasizing drilling. The Company has assembled a large land position in the Dryden and Sudbury areas, totaling over 16,000 hectares.

The TSX Venture Exchange has not reviewed and does not accept

responsibility for the adequacy or accuracy of this release.