Perpetua Resources Announces Second Quarter 2026 Financial Results BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or the “Company”) announced the filing of its unaudited condensed consolidated financial results for
702 W Idaho Street, Ste 200 Boise, ID 83702
NEWS RELEASE
August 17, 2026
Perpetua Resources Announces Second Quarter 2026 Financial Results
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua”
or the “Company”) announced the filing of its unaudited condensed consolidated financial results for
the period ended June 30, 2026. For details, please see the Company’s filings available on EDGAR and
SEDAR+.
Perpetua Resources’ vision is to provide the U.S. with a domestic source of the critical mineral antimony
while developing one of the largest and highest -grade open pit gold mines in the Americas and
restoring an abandoned brownfield site. The Company is currently advancing a comprehensive project
financing plan along with detailed engineering, long -lead time procurement, early works and critical
path construction activities and execution planning in anticipation of a final investment and construction
decision in the second half of 2026.
“Significant milestones were achieved at Perpetua in Q2 2026 ,” said Jon Cherry, President and CEO of
Perpetua Resources. “The unanimous approval by the U.S. EXIM board of our $2.9 billion senior secured
loan has laid the foundation for Stibnite’s future construction, and combined with our $574.2 million
cash position at quarter-end, positions us well as we advance toward a final investment and construction
decision in the second half of the year . We continue to work through definitive documentation and
anticipate closing this facility later this year. Other key developments included the commencement of
Burntlog Route upgrades, continuing work on the worker housing and administrative facilities and other
site locations, ongoing deliveries of worker housing facility units to site and the continuation of
exploration activities. The benefits of exploration remain abundantly clear as our short winter drill
program delivered promising results and demonstrate d that significant opportunity remains for
resource conversion at Stibnite.”
Second Quarter 2026 and Recent Highlights
• Reported a net loss of $97.5 million for the second quarter of 2026 (six months ended June 30, 2026:
$146.2 million), compared to a net loss of $6.0 million (six months: $14.2 million) in the prior year
period, primarily driven by higher exploration and pre -development spending ahead of a final
investment and construction decision; ended the quarter with $574.2 million in unrestricted cash
and cash equivalents and $60.9 million in restricted cash equivalents.
• Zero lost time incidents or reportable environmental spills.
• On April 10, 2026, the Idaho Department of Environmental Quality issued its final modified Clean
Water Act Section 401 Water Quality Certification for the Project.
• On May 21, 2026, the board of the Export -Import Bank of the United States (“EXIM”) unanimously
approved a $2.9 billion senior secured long-term loan under the Make More in America Initiative to
support the development of the Company’s 100%-owned Stibnite Gold Project.
• On May 29, 2026, the United States District Court of Idaho denied a motion for a preliminary
injunction filed by the plaintiffs in a related lawsuit initiated in 2025 by special interest groups
challenging, among other things, the USFS Record of Decision approving the Project. In the
decision, the District Court found that the plaintiffs failed to show that the planned activities
challenged by the plaintiffs would cause irreparable harm or would likely violate any applicable law
as asserted by the plaintiffs in their legal claims. The plaintiffs subsequently filed an appeal with the
U.S. Court of Appeals for the Ninth Circuit of the District Court’s order denying the motion for a
preliminary injunction, and they also requested an emergency stay of the District Court’s order. The
Ninth Circuit on June 17, 2026 denied the stay request. The appeal remains pending .
• On May 30, 2026, the Company commenced additional critical path construction activities for the
2026 field season, including initial work associated with the Burntlog Route, a key infrastructure
project designed to support safe and efficient access to the Project site while minimizing impacts to
nearby communities and sensitive environmental areas. Other critical path construction activities
also commenced on May 30th, including new work relating to the worker housing and administrative
facilities at the mine site.
• On July 7, 2026, an Idaho state district court upheld the air permit to construct for the Project that
was the subject of a judicial appeal filed by certain petitioners that had contested the permit in state
administrative proceedings. The state court rejected all claims by the petitioners challenging the air
permit issued by Idaho Department of Environmental Quality (IDEQ) for the Project.
• In July 2026, the Company announced commissioning of a mobile modular processing plant in
partnership with Idaho National Lab oratory to conduct pilot -scale testing of the plant, which is
designed to advance development of a secure domestic supply chain for antimony trisulfide.
• On August 6, 2026, the Company reported new high -grade gold and antimony discoveries and
identification of a new gold-tungsten zone in the Company’s ongoing exploration program.
• In H1 2026, Perpetua identified U.S. government-sponsored tungsten initiatives and submitted grant
funding proposals to advance tungsten drilling, sampling, metallurgical analysis, and resource
evaluation. There is no assurance the Company will secure fund ing or identify economically
accessible tungsten, but Perpetua believes its broader claim package positions it to help the U.S.
government secure a second critical mineral, alongside antimony, from the Stibnite district; any
tungsten development would requ ire separate environmental review and permitting outside the
current Project’s scope.
• During July and August 2026, the Company purchased put option contracts to protect the
Company’s exposure to fluctuations in metal prices . In total, the Company paid premiums of $28.9
million for the right, but not an obligation, to sell a total of up to 158,016 ounces of gold during 2031
at an established put strike price of $3,000 per ounce. The put structure of the contracts allow s
Perpetua to retain full exposure to gold prices above $3,000 per ounce while mitigating downside
exposure.
• Published the Company’s 2025 Sustainability Report, its thirteenth annual sustainability report.
For further information about Perpetua Resources Corp., please contact:
Joe Fazzini, CA, CPA, CFA
Vice President, Corporate Development & Investor Relations
Mckinsey Lyon
Senior Vice President, External Affairs
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold Project
Perpetua Resources Corp., 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. The Stibnite Gold Project is one of the highest-grade, open-pit gold deposits in the United
States and holds the only identified domestic reserve of the critical mineral antimony, which is essential
to the defense, energy and manufacturing sectors. The Project is designed to apply a modern,
responsible mining approach to restore a historic mine site and provide uplift to water quality, improve
fish habitat access, and invest in river restoration while supporting local economic development in rural
Idaho.
Forward-Looking Information
Investors should be aware that funding under the EXIM loan is subject to completion of definitive documentation
and satisfaction of conditions precedent. There can be no assurance that we will be able to successfully negotiate
definitive loan documents to close the loan or that, if closed, any funding provided by U.S. EXIM will be sufficient
for us to construct the Project. Further, release of funding under the loan would be subject to the satisfaction of
certain conditions and covenants by the Company.
Investors should be aware that no funding has been committed in connection with the Company’s application for
grant funding for tungsten exploration. There is no assurance that the application will be successful and, if
successful, whether any funding awarded will be sufficient to conduct the proposed exploration activities or that
such exploration will produce positive results.
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-
looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian
securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking
Information includes, but is not limited to, disclosure regarding the continued advancement of the Project toward
full construction activities; the anticipated timing, documentation, final terms, closing and funding of the
Company’s proposed financing from U.S. EXIM; the Company’s ability to satisfy conditions precedent and other
requirements under the proposed U.S. EXIM financing; timing of anticipated milestones related to the Project and
financing; ongoing funding and anticipated liquidity; the Company’s ability to comply with, obtain and defend
permits related to the Project; the Company’s ability to successfully implement and fund the Project; the realization
of benefits from strategic partnerships including with the Idaho National Laboratory; expected construction,
development and operating costs in the event that a production decision is made; planned exploration and
development of properties, including with respect to antimony and tungsten, and the results thereof; the
Company’s application for a grant related to tungsten exploration; development of any additional resources and
reserves and the permitting requirements with respect to any such additional resources and reserves; and the
occurrence of the expected benefits from the Project. In certain cases, Forward-Looking Information can be
identified by the use of words and phrases or variations of such words and phrases or statements such as
"anticipate", "expect", "plan", "likely", "believe", "intend", "forecast", "project", "estimate", "potential", "could",
"may", "will", "would" or "should". In preparing the Forward-Looking Information in this news release, Perpetua
Resources has applied several material assumptions, including, but not limited to, that the Company will be able to
negotiate and execute definitive documentation for the U.S. EXIM financing on acceptable terms, satisfy the
conditions to signing, closing and funding of the U.S. EXIM financing and receive funds when needed; the
Company’s proposed financing will be sufficient to finance permitting, pre-construction and construction of the
Project or that the Company will be able to secure alternate financing if necessary; that the current exploration,
development, environmental and other objectives concerning the Project can be achieved and that the Company’s
other corporate activities will proceed as expected; that general business and economic conditions will not change
in a materially adverse manner and that permitting, construction and operations costs will not materially increase;
that the Company will satisfy or will continue to satisfy the requirements of applicable permits and the requirements
of various governmental approvals; and that the Company or applicable governmental agencies will be able to
successfully defend against any challenges to governmental approvals for the planned exploration, construction,
development, operation and environmental protection activities on the Project. Forward-Looking Information
involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance
or achievements of Perpetua Resources to be materially different from any future results, performance or
achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include,
among other things, delays in the negotiation, closing or funding of the U.S. EXIM loan or material changes to the
anticipated size or terms of the loan; risks related to unforeseen delays in the review and permitting process,
including as a result of legal challenges to the ROD or other permits; risks related to opposition to the Project; risks
related to increased or unexpected costs in development, construction, operations or the permitting process; risks
that necessary financing will be unavailable when needed on acceptable terms, or at all, as well as those factors
discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the "SEC") and
its Canadian disclosure record. Although the Company has attempted to identify important factors that could affect
the Company and may cause actual actions, events or results to differ materially from those described in Forward-
Looking Information, there may be other factors that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such statements. Because it is not
possible to predict or identify all such factors, this list cannot be considered a complete set of all potential risks or
uncertainties. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further
information on these and other risks and uncertainties that may affect the Company’s business and liquidity, see the
“Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”
sections of the Company’s filings with the SEC, which are available at www.sec.gov and with the Canadian
securities regulators, which are available at www.sedarplus.ca. Except as required by law, the Company expressly
disclaims any obligation to update the Forward-Looking Information herein.
Cautionary Statement Regarding Technical Information
Except for the exploration results referenced herein, the technical information in respect of the Stibnite Gold Project
in this news release is based upon information contained in the technical report titled “Stibnite Gold Project, S-K
1300 Technical Report Summary, Valley County, Idaho, USA,” dated as of December 31, 2025 (the “TRS”),
developed for the Stibnite Gold Project in accordance with the mining property disclosure rules specified in
Regulation S-K subpart 1300 (“S-K 1300”) promulgated by the SEC and published on March 31, 2026. Such
information is as of December 31, 2025 and is subject to the assumptions, exclusions and qualifications set forth in
the TRS. For additional information regarding the TRS, investors are encouraged to refer to the Company’s Annual
Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 31, 2026.
There can be no assurance that exploration activities will result in the discovery of additional resources or reserves
and isolated exploration results may not be indicative of the occurrence of a mineral deposit. Such results do not
provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and
economic potential to be classed as a category of mineral resource. Exploration results are inherently uncertain and
subject to numerous risks and uncertainties, including geological factors, market conditions, and regulatory
changes. Furthermore, development of any additional resources and reserves discovered would be subject to any
applicable NEPA and permitting requirements.
Data regarding domestic antimony reserves is based on U.S. Geological Survey, Mineral Commodity Summaries,
dated as of January 2026.