Perpetua Resources Announces Appointment of Mark Murchison to Succeed
405 S 8th Street #201, Boise, ID 83702
Responsible Mining. Critical Resources. Clean Future.
1
NEWS RELEASE
October 1, 2025
Perpetua Resources Announces Appointment of Mark Murchison to Succeed
Jessica Largent as Chief Financial Officer
Seasoned mining finance executive, Mark Murchison, brings over 25 years of finance,
mining and capital project experience
Jessica Largent to remain as advisor to CFO through the end of 2025 to facilitate
transition and support ongoing project financing
Early works construction expected to commence this fall after posting Financial
Assurance
BOISE, ID – Perpetua Resources Corp. (Nasdaq: PPTA / TSX: PPTA) (“Perpetua Resources” or “Perpetua” or
the “Company”) announced today that Jessica Largent has notified the Board of Directors of her intent to
step down from her role as Chief Financial Officer and as a member of the Board of Directors of the
Company, effective October 1, 2025, and to retire on January 2, 2026, having served in key financial roles
to shepherd the Stibnite Gold Project (“Project”) through permitting and early financing. The Board of
Directors has appointed Mark Murchison to succeed Ms. Largent as Chief Financial Officer, effective
October 1, 2025.
“We are extremely grateful for Jessica’s thoughtful leadership as Perpetua worked through the permitting
process and prepared for construction ,” said President and CEO, Jon Cherry. “Having raised over $650
million in equity, royalty, and Department of War grant funding over the past four years, and initiating the
Company’s application for up to $2.0 billion in project financing from the Export-Import Bank of the United
States, Jessica leaves the Company well positioned to secure project financing and transition to full
construction in 2026. W e are excited to welcome Mark to pick up the reins for the next stage of
development and believe his global capital project experience and proven leadership will be an asset as
the Project moves into construction.”
Mark Murchison joins the Company with over 25 years of experience in metals and mining, including seven
years as Chief Financial Officer of Alacer Gold (“Alacer”) and 12 years in various financial leadership roles
at Rio Tinto . Mr. Murchison joins Perpetua from US Vanadium, a private vanadium producer based in
Arkansas, where he has served as Chief Financial Officer and Secretary since 2022. Mr. Murchison has
significant experience in capital project management, including raising project finance and managing
capital allocation and planning for a $750-million autoclave expansion at the Alacer mine in Turkey. During
his tenure, Alacer delivered a total shareholder return of more than 300% and culminated in Alacer Gold’s
strategic merger with SSR Mining to create a $5.0 billion diversified gold producer. Mr. Murchison will join
Perpetua’s management team to lead the finance functions as the Company secures project financing for
the Project and commences construction.
For further information about Perpetua Resources Corp., please contact:
Responsible Mining. Critical Resources. Clean Future.
2
Chris Fogg
Investor Relations Manager
Mckinsey Lyon
Vice President External Affairs
Website: www.perpetuaresources.com
FORWARD-LOOKING INFORMATION
Investors should be aware that the Company has not entered into any arrangement with respect to the joint
financial assurance bonding and may not be able to enter into such arrangements on the anticipated terms
and timeline, or at all. In addition, such arrangement, when entered into, may not be sufficient to satisfy the
financial assurance conditions required to commence construction under applicable federal and state law.
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 timing of the
commencement of early works and full construction; the Company’s ability to fully fund the construction of
the Project and related financial assurance obligations; the Company’s ability to successfully implement
and fund the Project; 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 an
arrangement on acceptable terms and on the anticipated timeline, if at all; and the anticipated timing and
potential outcome of the Company’s EXIM financing application. 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 satisfy financial assurance requirements applicable
under applicable federal and state law; and 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. Forward-Looking Information 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. . 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, 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 U.S. Securities and
Exchange Commission (the "SEC"), which are available at www.sec.gov and with the Canadian securities
regulators, which are available at www.sedarplus.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.