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405 S 8th Street #201, Boise, ID 83702
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NEWS RELEASE
April 21, 2025
Perpetua Resources’ Stibnite Gold Project Selected as Priority Project by White House
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua”
or the “Company”), today proudly announced that the Stibnite Gold Project (“Project”) has been selected
as a Transparency Project in response to President Donald Trump’s recent Executive Order aimed at
strengthening American mineral production and significantly reducing U.S. reliance on foreign nations
for critical mineral supplies. As one of just 10 initial U.S. projects selected by the National Energy
Dominance Council (”NEDC”) for placement on the Federal Permitting Improvement Steering Council
(“Permitting Council”) dashb oard, the Stibnite Gold Project will have access to increased interagency
transparency, coordination, and oversight.
"Being recognized as a Transparency Project by the White House underscores the immense strategic
value of the Stibnite Gold Project," said Jon Cherry, President and CEO of Perpetua Resources. "We are
honored by this selection, which validates the urgency a nd importance of our Project for America’s
economic and national security. We stand ready to restore the site and bolster American mineral
independence."
The Stibnite Gold Project, with its recently secured Record of Decision from the U.S. Forest Service in
January 2025, is uniquely positioned to supply the critical mineral antimony, which is essential to national
security and energy technology. The final f ederal decision, the U.S. Army Corps of Engineers Clean
Water Act 404 permit, is on track for a decision in Q2 2025.
The Executive Order, issued on March 20, 2025, directs federal agencies to streamline permitting for
identified Priority Projects, empowers the use of Defense Production Act (“DPA”) Title III awards to
advance domestic mining, and calls for program guidance on financing tools for mining projects made
available through the U.S. Export -Import Bank (“EXIM”). Perpetua has received three separate awards
from the Department of Defense – including DPA Title III awards – totaling nearly $75 million, and in
2024 received a Letter of Interest from EXIM for $1.8 billion.
“The President’s Executive Order was right to recognize that if the U.S. is going to seriously compete
against China, it needs to deploy federal tools to even the playing field for domestic mining projects.
Defense Production Act Title III awards, the U.S. Export-Import Bank’s China Transformational Exports
Program and Make More in America initiative, and other programs that extend capital for critical mineral
production can help meaningfully push back against China’s attempts to clinch global control over
critical minerals,” said Cherry.
The Stibnite Gold Project is poised to produce gold and the only domestically mined source of antimony
— a mineral vital to defense, energy industries, and advanced technologies. With China’s recent ban on
antimony exports to the U.S., the Project represen ts a crucial step toward restoring American supply
chain resilience. The Stibnite Gold Project could supply up to 35 percent of U.S. antimony demand
during its initial six years of production, based on the 2023 U.S. Geological Survey antimony commodity
summary.
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"The Stibnite Gold Project exemplifies responsible mining with benefits extending well beyond national
security," Cherry continued. "Our project is designed to create hundreds of family -wage jobs in rural
Idaho, restore critical salmon spawning habitats, a ddress legacy environmental contamination, and
enhance water quality at a previously abandoned mine site."
Perpetua Resources entered into the formal permitting process under the National Environmental Policy
Act (“NEPA”) in 2016. The USFS issued a Draft Environmental Impact Statement in 2020, a Supplemental
Draft Environmental Impact Statement in 2022, a Final Environmental Impact Statement and Draft
Record of Decision in September 2024, and a Final Record of Decision in January 2025.
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 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 i n 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 Pro ject. 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 and Cautionary Note
Investors should be aware that the Project’s inclusion as a Transparency Project on the Permitting Dashboard does
not imply endorsement of or support for the project by the federal government, or create a presumption that the
Project will be approved, favorably reviewed by any agency, or receive federal funding. The inclusion of a project
on the Permitting Dashboard may be reconsidered based on updated information. Additionally, investors should
be aware that the Executive Order does not indicate any commitments on the 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.
Investors should also 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.
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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 and the
Transparency Projects list for the Company or the mining industry; the anticipated review timeline of the
Company’s Section 404 permit application; the expectation that the review may lead to a favorable outcome for the
Company; the timing and resolution of any objection to the permit decision by the USACE; our 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 the 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, and the intended goals of the
Transparency Projects list, will be implemented as proposed; that the USACE will conduct an expedited review in a
timely manner; that the USACE will issue the Section 404 permit; that we will be able to successfully 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 proceed 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 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, 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 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 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.
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.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.