Mr. Jon Cherry reports

PERPETUA RESOURCES WELCOMES EXECUTIVE ORDER POWERING DOMESTIC CRITICAL MINERAL PRODUCTION

Perpetua Resources Corp. welcomes United States President Donald Trump's sweeping executive order to strengthen American mineral production and reduce U.S. reliance on foreign nations for its mineral supply. The Stibnite gold project, which received a positive record of decision from the U.S. Forest Service in January, 2025, is poised to produce gold and the only domestically mined source of the critical mineral antimony.

"Today's executive order is a resounding endorsement of American mining, and the Stibnite gold project is a prime example of why critical-mineral production in America requires immediate attention and prioritization. Between its national security implications, eight years of permitting review and a comprehensive environmental restoration plan, this project is ready to move forward," said Jon Cherry, president and chief executive officer of Perpetua Resources. "We are very encouraged to see this action to unlock a new era of American critical-mineral dominance."

Among its provisions, the executive order empowers use of the Defense Production Act to elevate domestic production capabilities and provides for program guidance on financing tools for mining projects made available through the U.S. Export-Import Bank (EXIM). Perpetua received a letter of interest from EXIM in 2024 for $1.8-billion. The company is evaluating the new programs that have been announced to determine the Stibnite gold project's potential eligibility. In the meantime, the company continues to advance its studies with Sunshine Silver to evaluate development of a full-scale antimony processing facility in Idaho at a site that historically produced antimony, with the potential to develop a fully integrated, domestic supply chain solution for antimony production in the United States.

The company believes the Stibnite gold project is positioned to become a national strategic asset for antimony and is the nearest-term solution available to the United States to meaningfully counteract China's dominance of the antimony market. Based on the 2023 United States Geological Survey antimony commodity summary, the project could supply up to 35 per cent of annual U.S. antimony demand in its initial six years of production and meet long-term defence needs. Antimony is critical to the national defence and energy industries, with commercial applications including fire retardants, lead acid batteries, semiconductors and solar panels. The Department of Defense uses antimony trisulphide as a key, non-replaceable component in the primer for hundreds of munition types. The company has already received three separate awards from the Department of Defense, totalling over $70-million, to advance the Stibnite gold project. Despite antimony's importance to America's defence and energy manufacturing base, the United States is almost entirely dependent on non-allied nations for its antimony supply. According to the U.S. Geological Survey in 2022, China, Russia and Tajikistan control 90 per cent of mined antimony, up to 80 per cent of which is distributed through China's processing facilities. In 2024, the Chinese government completely banned exports of all antimony products to the U.S.

"The Stibnite gold project is the only domestic reserve of the critical mineral antimony, which is desperately needed for national defence and manufacturing," Mr. Cherry continued. "The project is poised to become our nation's key to pushing back against China's weaponization of antimony supply chains, providing the United States Department of Defense with a stable, secure supply of American antimony for years to come."

In addition to meeting national defence needs, the Stibnite gold project is designed to provide hundreds of family-wage jobs, reconnect fish to their native spawning grounds, clean up legacy contamination and improve water quality at an abandoned mine site.

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 one of the lowest-carbon-emission grids in the nation, and a portion of the antimony produced from the project will be supplied to Ambri, a United States-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 $59.2-million in DPA 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.

We seek Safe Harbor.