Mr. Laurel Sayer reports

PERPETUA RESOURCES ANNOUNCES STIBNITE GOLD PROJECT MOVES TOWARD PUBLIC REVIEW

Perpetua Resources Corp. expects the U.S. Forest Service (USFS) to publish a supplemental draft environmental impact statement (SDEIS or supplemental DEIS) for public review in the fourth quarter of 2022. The USFS has confirmed that cooperating agency review is complete and the SDEIS is currently progressing through final reviews in Washington D.C. The USFS is concurrently working with Idaho tribes to inform meaningful consultation.

Perpetua is confident the additional evaluation contained within the SDEIS will show improved environmental outcomes that directly address issues raised during the public review of the 2020 Draft Environmental Impact Statement ("DEIS") and believes the additional analysis and detailed review should lead to the USFS designating a preferred alternative in the SDEIS. This key designation would further narrow the scope of review for the remainder of the process. Nearly two years of additional and comprehensive scientific analysis by the USFS and cooperating agencies, combined with the additional public review of the SDEIS, fortify the rigorous process mandated by the National Environmental Policy Act ("NEPA").

"We remain eager to show how our project improvements are designed to leave water quality and overall habitat in this historic mining district in better shape than they are in today," said Laurel Sayer, President and CEO of Perpetua Resources. "Today, more than ever, a secure source of domestically produced antimony is essential for our national security and energy future. Perpetua is ready to be the responsible solution our country needs."

Critical Project for National Defense and Clean Energy Future:

The Stibnite Gold Project in central Idaho is designed to restore environmental conditions at a legacy mine site while responsibly developing one of the highest-grade, open pit gold resources in the United States and becoming the only domestically mined source of the critical mineral antimony. Antimony is essential to defense, technology and energy products and is a listed critical mineral by the United States Geological Survey (USGS) and a mineral of interest by the Department of Defense (DOD) and Defense Logistics Agency (DLA).

Antimony is critical to the U.S. defense industrial supply chain for materials ranging from ammunition to night vision goggles. Without a domestically mined source, the United States is reliant on nations like China, Russia and Tajikistan that control 90% of the global supply. The Stibnite Gold Project has one of the world's largest independent reserves of antimony and is positioned to provide a secure source of antimony for defense and commercial needs.

Attention to antimony, and related defense materials, is growing amid heightened geopolitical tension and supply chain disruptions. Last week, military leaders voiced concern that the war in Ukraine has strained ammunition supplies. This comes just after Congress called for increased attention to antimony in the National Defense Authorization Act (NDAA).

Congress recently authorized a 10% production tax credit for certain critical minerals including antimony in the Inflation Reduction Act. Antimony is a key component for the long-duration grid storage battery technology developed by Ambri. The Massachusetts-based company recently announced the expansion of its U.S. manufacturing capacity along with a renewable energy demonstration project with Xcel Energy in Colorado. In August 2021, Perpetua Resources entered into a partnership agreement with Ambri to provide antimony from the Stibnite Gold Project for battery production.

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. Further advancing Perpetua Resources' ESG and sustainable mining goals, the Project will be powered by the lowest carbon emissions grid in the nation and a portion of the antimony produced from the Project will be supplied to Ambri, a US-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. 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.

We seek Safe Harbor.