Perpetua Resources Announces Second Quarter 2025 and Recent Highlights
405 S 8th Street #201, Boise, ID 83702
Responsible Mining. Critical Resources. Clean Future.
1
NEWS RELEASE
August 14, 2025
Perpetua Resources Announces Second Quarter 2025 and Recent Highlights
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or
the “Company”) announced today that its unaudited condensed consolidated financial results for the
period ended June 30, 2025 were filed. 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,
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 finalizing remaining permits for the Stibnite Gold Project
(“Project”) to support early works construction expected to start in the fall of 2025 , advancing detailed
engineering, long lead procurement and execution planning to be full sanction constru ction ready in the
spring of 2026 and finalizing project financing.
Second Quarter 2025 and Recent Highlights:
• Zero lost time incidents or reportable environmental spills.
• U.S. Army Corps of Engineers (“USACE” or the “Army Corps”) issued the Section 404 permit for
the Project.
• Submitted formal application to U.S. EXIM for potential Project debt financing of up to $2.0
billion.
• Closed $425 million in gross proceeds from equity financing and subsequently additional gross
proceeds of $49 million upon full exercise of an underwriter option, for total aggregate gross
proceeds of approximately $474 million.
• Announced plan for comprehensive project financing plan for the Project.
• Published 2024 Sustainability Report, the Company’s twelfth annual sustainability report.
• The Idaho Board of Environmental Quality issued a final order rejecting challenges by certain
petitioners to the air permit to construct issued by the Idaho Department of Environmental Quality
for the Project and upholding the permit in all respects.
“Perpetua Resources received its final federal permit for the Stibnite Gold Project in the second quarter of
2025, after eight years of rigorous interagency coordination and review ,” said Jon Cherry, President and
CEO of Perpetua Resources. “Following the successful equity offering in June 2025, and with final state
permits and authorizations needed to begin construction expected in the fall of 2025, Perpetua is focused
on finalizing a potential royalty or stream arrangement with financial assurance guarantees which is
expected to be complete this summer, while advancing the US EXIM debt financing.”
For further information about Perpetua Resources Corp., please contact:
Chris Fogg
Investor Relations Manager
Responsible Mining. Critical Resources. Clean Future.
2
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 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 trisulfide from Stibnite is the only known domestic reserves of
antimony that can meet U.S. defense needs for many small arms, munitions, and missile types.
Forward-Looking Information
Investors should be aware that the U.S. EXIM Letter of Interest (“LOI”) is non-binding and conditional, and does not
represent a financing commitment. A funding commitment, if any, is conditional upon successfully completing the due
diligence and underwriting process, which may not be completed on the expected timeline, or at all. If the Company’s
application is approved, there can be no assurance that the U.S. EXIM financing will be for the full amount indicated in
the LOI or the increased amount requested in the application, or that the approved U.S. EXIM financing will be
sufficient for the Company to commence construction of the Project. Further, release of funding under any such
commitment would be subject to the satisfaction of certain conditions and covenants by the Company.
Investors should be aware that the Company has not entered into any definitive agreement with respect to a royalty,
streaming or guarantee and may not be able to enter into such agreement on the anticipated terms and timeline, or at
all. In addition, the outcomes from such agreement, when entered into, may not be sufficient to satisfy the aggregate
obligations of the Company to provide construction phase financial assurance under applicable federal and state law
prior to commencing construction. Securing the financial assurance does not guarantee the Company will receive the
U.S. Forest Service (“USFS”) notice to proceed under the approved plan of operation and consummating the royalty
financing may not satisfy the financial assurance conditions of various federal and state permits required to commence
construction.
Investors should be aware that state regulators are not bound by permitting schedules and anticipated timelines may
be delayed materially or not be satisfied.
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, our ability to comply with, obtain and defend permits related to the Project; the
Company’s ability to successfully secure financing from U.S. EXIM or other sources on acceptable terms, or at all,
including the review process and potential outcome of the Company’s U.S. EXIM financing application; the expected
timing of, and benefits to the Project of, securing such financing from U.S. EXIM; the anticipated timing of the issuance
of certain state permits or a USFS notice to proceed; the Company’s ability to satisfy financial assurance requirements
under applicable federal and state law on acceptable terms and on anticipated timelines, if at all; the Company’s
ability, in connection with efforts to satisfy financial assurance requirements applicable to the Project and to provide
additional Project financing, to enter into a royalty or stream agreement on acceptable terms and on the anticipated
timeline, if at all. 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 the USFS will issue a Notice to Proceed for construction of the Project in a timely
manner and as expected; the remaining state permits will be reviewed, issued in a timely manner and as expected;
that the Company will be able to satisfy all conditions provided in various federal and state permits that must be met to
Responsible Mining. Critical Resources. Clean Future.
3
commence construction; that the U.S EXIM application will be reviewed and approved within the expected timeframe
at the amount equal to or higher than the amount indicated in the related letter of intent; that the Company will be able
to satisfy the conditions to obtain a funding commitment from U.S. EXIM and to receive committed funds when
needed; the ongoing royalty or streaming financing negotiations will proceed in a timely manner and result in a
binding agreement on the terms anticipated; that the Company will be able to satisfy financial assurance requirements
applicable under applicable federal and state law; that the Company’s proposed financing package 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. 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.