Perpetua Resources Receives Preliminary Project Letter and Indicative Term Sheet from the Export-Import Bank of the United States on Potential $2 Billion Debt
405 S 8th Street #201, Boise, ID 83702
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NEWS RELEASE
September 8, 2025
Perpetua Resources Receives Preliminary Project Letter and Indicative Term Sheet
from the Export-Import Bank of the United States on Potential $2 Billion Debt
Financing
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or
the “Company”) announced today that it received a preliminary, non -binding indicative financing term
sheet from the Export-Import Bank of the United States (“EXIM“) as part of a Preliminary Project Letter (“PPL”)
conveying EXIM’s initial due diligence findings to Perpetua on its application for $2 billion in debt financing
from EXIM for the Stibnite Gold Project (“Project”).
Along with the preliminary indicative term sheet, the PPL provides a summary of EXIM’s initial due diligence
findings of the Project to date. Perpetua continues to work with EXIM to a dvance the project through the
next stages of EXIM’s due diligence and loan application process. The Company is anticipating final EXIM
Board consideration by the spring of 2026.
“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 earlier this year, Perpetua is focused
on finalizing a potential royalty or stream arrangement with financial assurance guarantees , commencing
early works construction in the fall of 2025 while advancing the EXIM debt financing.”
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 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
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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”), PPL and indicative term sheet are non-binding
and conditional, and do 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.
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 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 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; that the Company will be able
to satisfy all conditions provided in various federal and state permits that must be met to 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
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"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.