Perpetua Resources Commences Detailed Engineering and Signs Procurement Contract with Idaho Power to Advance Stibnite Gold Project Towards Construction Decision

Core Viewpoint - The Stibnite Gold Project is confirmed as a world-class asset with the lowest cost gold production in a Tier 1 jurisdiction, supported by low-cost hydro power and valuable antimony by-product essential for national defense and technology sectors [1][3]. Economic Highlights - The project has an after-tax net present value (NPV) of $3.7 billion at a 5$435 per gold ounce over the first four years and under $760 per gold ounce over the life of the mine, positioning it as the lowest cost gold project in the U.S., Canada, and Australia [3][10]. - The project is expected to recover a total of 4.2 million ounces of gold and 106.5 million pounds of antimony over its 15-year life [10]. Job Creation and Financing - A projected increase of over 15$1.8 billion indication of interest from the U.S. Export-Import Bank [2][5]. - The company is advancing its loan application process with the U.S. Export-Import Bank, which received a Letter of Interest in April 2024 [5][23]. Project Development - The company has completed basic engineering and is moving forward with detailed engineering studies and procurement contracts, including a contract with Idaho Power for powerline materials [3][4]. - The project aims to become a reliable source of antimony, a critical mineral for defense needs, with construction expected to start in 2025 [4][23]. Technical and Financial Information - The Financial Update is based on basic engineering work completed to date, using the fourth quarter of 2024 as a base date for cost estimates [6][29]. - The project is designed to apply a modern, responsible mining approach to restore an abandoned mine site while producing gold and antimony [23].