Ms. Laurel Sayer reports

PERPETUA RESOURCES ANNOUNCES ADDITION TO THE RUSSELL 2000(TM) INDEX

As part of the annual reconstitution of the Russell stock indexes, Perpetua Resources Corp. is expected to be included in the Russell 2000 Index and the broad-market Russell 3000 Index, effective after the U.S. market opens on June 26, 2023. A preliminary list of index additions, including Perpetua Resources, was posted by FTSE Russell on May 19, 2023.

"We are pleased to have earned our inclusion in the Russell 2000 Index, one of the most widely cited performance benchmarks for emerging U.S. companies," said Laurel Sayer, president and chief executive officer of Perpetua Resources. "This is an important milestone for Perpetua as we continue to build momentum and advance our Stibnite gold project through the permitting process and towards a construction decision."

Perpetua Resources' vision is to provide the United States with a domestic source of the critical mineral antimony, develop one of the largest and highest-grade open-pit gold mines in the country, and restore an abandoned brownfield site. Perpetua Resources is focused on advancing the permitting for the Stibnite gold project through the National Environmental Policy Act process.

Membership in the Russell 3000 Index means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as in the appropriate growth and value-style indexes. The Russell 3000 Index encompasses the 3,000 largest U.S.-traded stocks by objective, market capitalization rankings and style attributes. Membership in these indexes is updated annually and remains in place for one year.

The Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12.1-trillion (U.S.) in assets are benchmarked against Russell's U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

About Perpetua Resources Corp. and the Stibnite gold project

Perpetua Resources, 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 (environmental, social, governance) 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 U.S.-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. Perpetua Resources has been awarded a technology investment agreement of up to $24.8-million in Defense Production Act Title III funding to advance construction readiness and permitting of the project. Antimony trisulphide from Stibnite is the only known domestic source of antimony that can meet U.S. defence needs for many small arms, munitions and missile types. In addition to the company's commitments to transparency, accountability, environmental stewardship, safety and community engagement, Perpetua Resources adopted formal ESG commitments.

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