Perpetua Resources Welcomes Executive Order Powering Domestic Critical Mineral
405 S 8th Street #201, Boise, ID 83702
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NEWS RELEASE
March 21, 2025
Perpetua Resources Welcomes Executive Order Powering Domestic Critical Mineral
Production
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or
the “Company”) today welcomed 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 (“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 implicati ons, eight years of permitting review, and a
comprehensive environmental restoration plan, this project is ready to move forward,” said Jon Cherry,
President and CEO 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.
We believe 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 USGS antimony commodity summary, the Project could supply up
to 35 percent of annual U.S. antimony demand in its initial six years of production and meet long -term
defense needs. Antimony is critical to the national defense and energy industries, with commerci al
applications including fire retardants, lead acid batteries, semiconductors, and solar panels. The
Department of Defense uses antimony trisulfide as a key, non -replaceable component in the primer for
hundreds of munition types. The Company has already r eceived three separate awards from the
Department of Defense, totaling over $70 million, to advance the Stibnite Gold Project. Despite antimony’s
importance to America’s defense and energy manufacturing base, the United States is almost entirely
dependent on non -allied nations for its antimony supply. According to the 2022 U.S. Geologic Survey,
China, Russia, and Tajikistan control 90 percent of mined antimony, up to 80 percent of which is distributed
through China’s processing facilities. In 2024, the Chin ese government completely banned exports of all
antimony products to the U.S.
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“The Stibnite Gold Project is the only domestic reserve of the critical mineral antimony, which is desperately
needed for national defense and manufacturing,” 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 Defense Department of Defense with a stable, secure supply of American antimony for years to
come.”
In addition to meeting national defense 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.
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
Mckinsey Lyon
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 that are encompassed by the Stibnite G old 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 and sustainable mining goals,
the Project will be powered by one of the lowest carbon emissions grids in the nation and a portion of the
antimony produced from the Project will be supplied to A mbri, 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 of $59.2 million in DPA funding to advance construction readiness and permitting of the
Project. Antimony trisulfide from Stibnite is the only known domestic source of antimony that can meet U.S.
defense needs for many small arms, munitions, and missile types. In addition to the company’s
commitments to transparency, accountability, environmenta l stewardship, safety and community
engagement, Perpetua Resources adopted formal ESG commitments which can be found here.
Forward-Looking Information
Investors should be aware that the Executive Order does not indicate any commitments on part of the government or
any government agency with regard to the applicability of any programs to the Project, or the timing or outcome of any
such initiative that may be applicable to the Project.
In addition, investors should be aware that the U.S. EXIM Letter of Interest is non-binding and conditional, and does not
represent a financing commitment. A funding commitment is conditional upon completing the application, due
diligence and underwriting process and receiving all required Project approvals. Investors should also be aware that the
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Company’s joint studies conducted alongside Sunshine Silver are part of a non-binding and non-exclusive memorandum
of understanding (“MOU”). There is no certainty that any definitive agreement or arrangement, whether in respect of a
full-scale antimony pro cessing facility or otherwise, between the Company and Sunshine Silver will result from their
dealings pursuant to the MOU.
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, the anticipated outcomes from the Executive Order for the Company or the mining industry;
environmental clean up actions by us; ou r ability to comply with, obtain and defend permits related to the Project; our
ability to successfully implement and fund the Project and the occurrence of the expected benefits from the Project,
including creation of jobs and environmental benefits; and our and Ambri Inc.'s ability to perform under the supply
agreement. Statements concerning mineral resource and mineral reserve estimates may also be deemed to constitute
forward-looking information to the extent that such statements involve estimates of th e mineralization that may be
encountered if a property is developed. 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, assumptions that that the remaining permits will be reviewed, issued in a timely manner
and as expected; that the initiatives outlined in the Executive Order will be implemented as proposed; that we will be
able to successfull y secure financing to finance permitting, pre -construction and construction of the Project; that the
current exploration, development, environmental and other objectives concerning the Project can be achieved and that
its other corporate activities will pr oceed as expected; that general business and economic conditions will not change
in a materially adverse manner and that permitting and operations costs will not materially increase; and that we will be
able to discharge our liabilities as they become due and continue as a going concern. Forward-Looking Information are
based on certain material assumptions and involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of Perpetua Resource s 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, risks related to unforeseen delays in the review and permit ting 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 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 Perpetua
Resources has attempted to identify important factors that could affect Perpetua Resources 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 o r 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. Accordin gly, 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 An alysis 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.sedar.com. Except as required by law, Perpetua Resources does not
assume any obligation to release publicly any revisions to Forward -Looking Information contained in this news release
to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.