Ms. Laurel Sayer reports

PERPETUA RESOURCES ANNOUNCES APPOINTMENT OF MINING VETERAN JON CHERRY TO SUCCEED LAUREL SAYER AS PRESIDENT AND CHIEF EXECUTIVE OFFICER

Perpetua Resources Corp. president and chief executive officer Laurel Sayer has notified the board of directors of her intent to step down as president and chief executive officer and a member of the board of directors of the company, effective March 14, 2024, and to retire effective April 1, 2025, after seven years of leading the company through the permitting process. The board of directors has appointed Jon Cherry to succeed Ms. Sayer as president and chief executive officer of Perpetua Resources and as a member of the board of directors effective March 14, 2024. The board of directors has also appointed Jessica Largent, the chief financial officer of Perpetua Resources, as a member of the board of directors. Ms. Sayer will serve as senior adviser to the chief executive officer through March, 2025.

"I joined Perpetua with the goal of securing a record of decision for the Stibnite gold project. Now, with our final record of decision expected in 2024, it's time to pass the baton to the leader who will take Perpetua into our next phase of development," said Ms. Sayer. "Leading the Perpetua Resources team has been the greatest accomplishment of my career, and, over the next year, I remain committed to securing our record of decision and working hand in hand with Jon to sustain Perpetua's vision, culture and commitments well into the future."

Mr. Cherry joins Perpetua Resources with over 33 years of extensive mining industry experience, including permitting, capital raising, project development, joint venture formation and operations. He most recently served as chairman, president and chief executive officer of PolyMet Mining. During his tenure at PolyMet, the NorthMet project received the highest rating the Environmental Protection Agency has ever given to a mining project. Additionally, Mr. Cherry played a leading role in negotiating a joint venture with Teck Resources before PolyMet's sale to Glencore. Before Polymet, Mr. Cherry served as a senior leader for the multibillion-dollar Resolution copper joint venture project (owned by Rio Tinto and BHP), general manager of Rio Tinto's Eagle mine (the United States' only primary nickel-copper mine) and senior project engineer at Rio Tinto Kennecott Utah Copper. Mr. Cherry will lead the Perpetua Resources team as the Stibnite gold project completes permitting and transitions into development and operations.

"One of the primary reasons I was drawn to Perpetua Resources is that the team has clearly focused on doing business the right way," said Mr. Cherry. "I look forward to advancing Perpetua's vision to restore an abandoned legacy mine site, responsibly develop one of the highest-grade open-pit gold mines in the United States, and support national security and the energy transition by becoming the only domestically mined source of the critical mineral antimony. I believe that progressing this unparalleled asset toward development is key to unlocking value for all of Perpetua's stakeholders, and I'm excited to continue the work of building trust with our communities as we turn the Stibnite gold project into reality."

Board changes

In connection with the leadership transition, the board of directors appointed Mr. Cherry to fill the vacancy left by Ms. Sayer's retirement, effective March 14, 2024. To further support the transition to the development and financing stage of the project, the board of directors appointed Perpetua Resources' chief financial officer, Jessica Largent, as a director, effective March 14, 2024. The addition of Ms. Largent brings operational finance experience to the board as the company prepares for its next phase. Ms. Largent was appointed chief financial officer in April, 2022, after joining the Perpetua team in February, 2021, as vice-president, finance and investor relations.

About Perpetua Resources Corp.

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 and governance) and sustainable mining goals, the project will be powered by the lowest-carbon-emission 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 (TIA) of up to $59.4-million in DPA 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 has adopted formal ESG commitments.

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