Mr. Chris Fogg reports

PERPETUA RESOURCES ANNOUNCES FULL EXERCISE OF OPTION AND ADDITIONAL PROCEEDS OF US$49 MILLION

In connection with Perpetua Resources Corp.'s previously announced upsized $325-million (U.S.) public offering of 24,622,000 common shares at a price to the public of $13.20 (U.S.) per common share and concurrent $100-million private placement of 7,575,757 common shares to Paulson & Co. Inc., National Bank of Canada Financial Markets and BMO Capital Markets have exercised in full their option to purchase an additional 3,693,300 common shares for aggregate gross proceeds to the company of approximately $49-million (U.S.), which brings the aggregate gross proceeds of the offering and private placement to approximately $474-million (U.S.).

The company intends to use the additional proceeds from the exercise of the option, together with the proceeds of the offering and the private placement, as part of the company's previously announced comprehensive financing package for the development of the company's Stibnite gold project.

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 Stibnite gold 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. Antimony trisulphide from Stibnite is the only known domestic reserves of antimony that can meet U.S. defence needs for many small arms, munitions and missile types.

We seek Safe Harbor.