#USA #Perpetua Resources #Stibnite Gold #Boise, Idaho #Jon Cherry

Perpetua Resources Sets Tone for 2024 with Positive Highlights

Perpetua Resources Corp., trading under the symbols NASDAQ: PPTA and TSX: PPTA, recently announced its Annual Report on Form 10-K for the year ending December 31, 2024. This report includes the company's audited financial results for the past fiscal year and outlines major developments, showcasing a commitment to sustainable mining and economic growth within the U.S.

Key Developments of Year 2024

Throughout 2024, Perpetua Resources accomplished numerous milestones, particularly in the advancements of the Stibnite Gold Project, which promises to be one of the largest and highest-grade open pit gold mines in the U.S. Here's a summary of the highlights:

• - Safety and Environmental Stewardship: Remarkably, there were zero lost time incidents or reportable environmental spills. This achievement emphasizes the company's focus on safety and environmental responsibility.
• - Shareholder Engagement: The company held its Annual General Meeting in 2024, where shareholders endorsed all proposed measures.
• - Sustainability Reporting: Perpetua published its 2023 Sustainability Report, marking the eleventh year this pivotal documentation has been released, underlining dedication to responsible mining practices.
• - Leadership Changes: Jonathan Cherry, a recognized leader in the mining industry, was appointed as the new President and CEO, alongside his role as a Director, bringing significant expertise to guide the company in its next growth phase.
• - Funding Initiatives: The company was awarded up to $34.4 million under a Technology Investment Agreement as part of the Defense Production Act. Additionally, Perpetua received indications of funding up to $1.8 billion from the Export-Import Bank of the United States, which represents a significant leap towards securing the necessary financial backing for the Stibnite Gold Project.
• - Environmental Permitting: The United States Forest Service (USFS) finalized the Environmental Impact Statement for the project and issued a Draft Record of Decision.
• - Financial Strategies: In November, Perpetua closed an equity financing round totaling $33.6 million, which will aid in the project's advancement.
• - Supply Chain Agreements: Recent agreements with Sunshine Silver and U.S. Antimony aim to strengthen the domestic antimony supply chain—strategically significant given the U.S. defense sector’s reliance on antimony.

Recent Achievements in Early 2025

Following the success of 2024, Perpetua Resources has kicked off 2025 with a series of notable achievements. On January 3, 2025, USFS issued the Final Record of Decision for the Project, marking a critical advancement. Furthermore, the Basic Engineering phase has been completed, and a Financial Update for the Stibnite Gold Project has been published, confirming the project's feasibility and attractiveness to investors.

Additionally, a procurement contract with Idaho Power has been signed to initiate payments on essential long-lead power line items needed for the project.

CEO's Perspective

In his remarks, CEO Jon Cherry expressed pride in the team’s accomplishments, emphasizing their success in navigating challenges safely and efficiently. He noted the project is positioned to not only produce gold but also provide antimony—an essential mineral for various U.S. defense applications—and help restore an abandoned mining site through responsible practices.

About Perpetua Resources and the Stibnite Gold Project

Perpetua Resources Corp. is focusing on exploring and redeveloping gold-antimony-silver deposits within the Stibnite-Yellow Pine district located in central Idaho. The Stibnite Gold Project, which is recognized as one of the highest-grade gold deposits in the country, aims to harness modern mining techniques that prioritize environmental sustainability and community engagement. The project holds particular significance given its status as the only U.S. source of mined antimony, crucial for production in various defense applications.

The project is poised to not only revitalize an abandoned industrial site but also contribute positively to the local economy through job creation and sustainable resource extraction. As the company looks ahead, it continues to align its operations with environmental stewardship principles and the transition toward low-carbon energy solutions.

Concluding Remarks

As Perpetua Resources progresses through 2025, all eyes will be on the outcomes of its ongoing funding endeavors and permitting processes. With a strong foundation laid out in 2024, the company is set to embark on its next critical phases of growth. The strategic development of the Stibnite Gold Project promises to reshape the landscape of mining within the United States while adhering to environmentally conscious practices.