Mr. Jon Cherry reports

PERPETUA RESOURCES ANNOUNCES FIRST QUARTER 2025 AND RECENT HIGHLIGHTS

Perpetua Resources Corp.'s unaudited condensed consolidated financial results for the period ended March 31, 2025, were filed. For details, please see the company's filings available on EDGAR and SEDAR.

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 Stibnite gold project toward a construction decision, including finalizing the remaining federal and state permits and securing project financing.

First quarter 2025 and recent highlights:

• Zero lost-time incidents or reportable environmental spills;
• USFS (U.S. Forest Service) issued the final record of decision (ROD) for the project;
• Successful completion of basic engineering and cost update for the project;
• Executed procurement contract with Idaho Power for critical long-lead power line items;
• Added to the Market Vectors Junior Gold Miners Index and the VanEck Junior Gold Miners ETF;
• Welcomed executive order to strengthen American mineral production and reduce U.S. reliance on foreign nations for its mineral supply;
• Announced Stibnite gold project was selected as a priority project by the White House.

"Perpetua Resources began 2025 with the biggest milestone in the company's history -- a favourable final record of decision for the Stibnite gold project," said Jon Cherry, president and chief executive officer of Perpetua Resources. "In April, 2025, our project was selected as a transparency project by the White House, which I believe underscores the immense strategic value of our asset to our country. Importantly, we completed the first quarter safely, with no lost-time incidents or reportable spills."

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 U.S.-based company commercializing a low-cost liquid metal battery essential for the low-carbon energy transition. Perpetua Resources has been awarded a TIA (technology investment agreement) of $59.2-million in DPA (Defense Production Act) 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.

We seek Safe Harbor.