<SEC-DOCUMENT>0001104659-25-058571.txt : 20250611
<SEC-HEADER>0001104659-25-058571.hdr.sgml : 20250611
<ACCEPTANCE-DATETIME>20250611164453
ACCESSION NUMBER:		0001104659-25-058571
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20250611
DATE AS OF CHANGE:		20250611

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PERPETUA RESOURCES CORP.
		CENTRAL INDEX KEY:			0001526243
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-266071
		FILM NUMBER:		251040597

	BUSINESS ADDRESS:	
		STREET 1:		405 S. 8TH STREET
		CITY:			BOISE
		STATE:			ID
		ZIP:			83702
		BUSINESS PHONE:		208-901-3060

	MAIL ADDRESS:	
		STREET 1:		405 S. 8TH STREET
		CITY:			BOISE
		STATE:			ID
		ZIP:			83702

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MIDAS GOLD CORP.
		DATE OF NAME CHANGE:	20110720

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PERPETUA RESOURCES CORP.
		CENTRAL INDEX KEY:			0001526243
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		405 S. 8TH STREET
		CITY:			BOISE
		STATE:			ID
		ZIP:			83702
		BUSINESS PHONE:		208-901-3060

	MAIL ADDRESS:	
		STREET 1:		405 S. 8TH STREET
		CITY:			BOISE
		STATE:			ID
		ZIP:			83702

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MIDAS GOLD CORP.
		DATE OF NAME CHANGE:	20110720
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>tm2517717d2_fwp.htm
<DESCRIPTION>FWP
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Filed Pursuant to Rule&nbsp;433</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Free Writing Prospectus dated June&nbsp;11, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Relating to Preliminary Prospectus dated June&nbsp;11,
2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT>Registration
No.&nbsp;333-266071</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2517717d2_fwpimg001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">405 S 8<SUP>th</SUP> Street #201, Boise,&nbsp;ID
83702</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NEWS RELEASE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June&nbsp;11, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Perpetua Resources
Announces </B></FONT><B>US$300 Million Bought Deal Financing and US$100 Million Private Placement as part of Comprehensive Financing
Package for Stibnite Gold Project</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>BOISE,&nbsp;ID
 &ndash; Perpetua Resources Corp. </B></FONT><B>(Nasdaq: PPTA / TSX: PPTA<FONT STYLE="font-size: 10pt">) </FONT></B>(&ldquo;Perpetua Resources&rdquo;
or the &ldquo;Company&rdquo;) announced today that it has entered into an agreement with National Bank of Canada Financial Markets and
BMO Capital Markets, on behalf of themselves and a syndicate of underwriters (the &ldquo;Underwriters&rdquo;) under which the Underwriters
have agreed to purchase, on a bought deal basis, 22,728,000 common shares, no par value, of the Company (the &ldquo;Common Shares&rdquo;)
at a price of US$13.20 per Common Share (the &ldquo;Offering Price&rdquo;) for aggregate gross proceeds of approximately US$300
million (the &ldquo;Offering&rdquo;). National Bank of Canada Financial Markets and BMO Capital Markets are acting as joint lead bookrunning
managers for the Offering. In connection with the Offering, Paulson&nbsp;&amp; Co. Inc. has entered into an agreement to purchase US$100
million of Common Shares in a private placement (the &ldquo;Private Placement&rdquo;) at the Offering Price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company intends to use the proceeds of the
Offering and the Private Placement as part of a comprehensive financing package for the development of the Company&rsquo;s Stibnite Gold
Project (the &ldquo;Project&rdquo;) in conjunction with the previously announced application for up to US$2 billion in project financing
submitted to the Export-Import Bank of the United States (&ldquo;EXIM&rdquo;) in May&nbsp;2025. The Company intends to designate the proceeds of the Offering and the Private Placement toward equity requirements for the EXIM debt financing, with
any additional funds intended to support exploration activities, working capital and general corporate purposes. EXIM&rsquo;s due diligence
on the Company&rsquo;s application is ongoing and is conditional upon successfully completing the due diligence and underwriting process.
If the due diligence process is successful, the Company anticipates closing the debt financing in 2026.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Together with the EXIM debt financing and royalty
financing described below, if successfully completed in the amounts anticipated, the Company believes that the net proceeds from the Offering
and the Private Placement will provide the Company with sufficient capital to fund the Project construction costs of US$2.2 billion, along
with additional funds for a cost-over run account, debt service, working capital costs in excess of the Project capital costs and exploration
activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, the Company is in advanced discussions
with potential partners for guarantees of the Company&rsquo;s obligations under reclamation bonds or other financial instruments that
the Company will be required to enter into to satisfy financial assurance requirements applicable under applicable federal and state law.
The Company is seeking a US$155 million guarantee and indemnification of the Company&rsquo;s obligations to surety providers in respect
of reclamation bonds or other financial instruments, along with proceeds between US$200 million to US$250 million, in exchange for either
a gold net smelter return (&ldquo;NSR&rdquo;) royalty not to exceed 3.9% or a gold stream. A royalty, if any, would be expected to provide
for buy back of a portion of the royalty if certain conditions are met. The US$155 million guarantee and indemnification is anticipated
to be sufficient to satisfy the aggregate obligations of the Company to provide construction phase financial assurance as required by
regulatory authorizations from relevant agencies. Securing the financial assurance in this amount is expected to position the Company
to receive the USFS notice to proceed under the approved plan of operation and satisfy the financial assurance conditions of various federal
and state permits, allowing the Company commence construction later in 2025. The proposed royalty and financial assurance arrangement
is expected to be formalized in summer 2025. Based on indications from the relevant agencies, the Company expects the remaining state
permits required to commence construction to be issued by the relevant agencies in summer 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify"><TD STYLE="text-align: center; width: 20%">&nbsp;</TD><TD STYLE="text-align: center; width: 60%"><IMG SRC="tm2517717d2_fwpimg002.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: center; width: 20%">&nbsp;</TD></TR><TR STYLE="vertical-align: top; text-align: justify"><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">Responsible Mining. Critical Resources. Clean Future.</TD><TD STYLE="text-align: right">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD></TR></TABLE><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin: 0pt 0"><IMG SRC="tm2517717d2_fwpimg003.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Perpetua Resources
has also granted the Underwriters an option (the &quot;Option&quot;) to purchase up to an additional 3,409,200 Common Shares representing
up to 15% of the number of Common Shares to be sold pursuant to the Offering.&nbsp;The Underwriters have 30 days from the closing of the
Offering to exercise the Option. In connection with the Offering, an underwriting agreement will be entered into by and among Perpetua
Resources, National Bank of Canada Financial Markets and BMO Capital Markets as representatives of the several Underwriters (the &quot;Underwriting
Agreement&quot;). In the event that the Option is exercised in full, the aggregate gross proceeds of the Offering will be approximately
US$345 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Offering is
expected to close on or about&nbsp;June&nbsp;16, 2025. Closing of the Offering will be subject to a number of customary conditions to be
included in the Underwriting Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Offering to the public in the United States
is being made pursuant to the Company&rsquo;s effective shelf registration statement on Form&nbsp;S-3 (File No.&nbsp;333-266071) (the
 &ldquo;U.S. Registration Statement&rdquo;), including a base prospectus, previously filed with the&nbsp;Securities and Exchange Commission&nbsp;(the
 &quot;SEC&quot;). The Offering in&nbsp;the United States&nbsp;will be made only by means of a prospectus and related prospectus supplement
meeting the requirements of Section&nbsp;10 of the Securities Act of 1933, as amended. You may obtain these documents for free by visiting
EDGAR on the SEC's website at&nbsp;www.sec.gov. Alternatively, copies of the U.S. Registration Statement, preliminary prospectus supplement
and base prospectus may be obtained from National Bank of Canada Financial Markets, 130 King Street West, 4<SUP>th</SUP> Floor Podium,
Toronto, Ontario M5X 1J9, by email at NBF-Syndication@bnc.ca or by telephone at (416) 869-8414. The Offering may also be conducted in
Canada and in offshore jurisdictions on a private placement basis in accordance with applicable securities laws. The Company intends to
rely on the exemption in section 602.1 of the TSX Company Manual in respect of the Offering and the Private Placement as an eligible interlisted
issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Private Placement
is expected to close concurrently with the closing of the Offering and is subject to customary conditions, including the completion of
the Offering,</FONT> but the Offering is not contingent upon the consummation of the Private Placement. The sale of the Common Shares
under the Private Placement will not be registered under the Securities Act of 1933, as amended. Since neither the fair market value of
the Common Shares to be acquired by the Paulson (an insider of the Company), nor the consideration for the Common Shares paid by Paulson,
exceeds 25% of the Company&rsquo;s market capitalization as calculated in accordance with MI 61-101 (as defined below), the Private Placement
is exempt from the formal valuation and minority approval requirements of Multilateral Instrument 61-101 - <I>Protection of Minority Security
Holders in Special Transactions</I> (&ldquo;MI 61-101&rdquo;) pursuant to subsections 5.5(a)&nbsp;and 5.7(1)(a)&nbsp;of MI 61-101.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No securities regulatory authority has either
approved or disapproved the contents of this news release. This news release does not constitute an offer to sell or the solicitation
of an offer to buy Common Shares, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify"><TD STYLE="text-align: center; width: 20%">&nbsp;</TD><TD STYLE="text-align: center; width: 60%"><IMG SRC="tm2517717d2_fwpimg002.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: center; width: 20%">&nbsp;</TD></TR><TR STYLE="vertical-align: top; text-align: justify"><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">Responsible Mining. Critical Resources. Clean Future.</TD><TD STYLE="text-align: right">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2517717d2_fwpimg003.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About Perpetua Resources and the Stibnite Gold
Project</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 Gold 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. Perpetua Resources has been awarded a Technology
Investment Agreement of US$59.2 million in Defense Production Act Title III funding to advance construction readiness and permitting of
the Stibnite Gold Project. 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For further information about Perpetua Resources
Corp., please contact:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Chris Fogg</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Investor Relations Manager</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">chris.fogg@perpetuacorp.us</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Info@perpetuacorp.us</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Mckinsey Lyon</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Vice President External Affairs</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">media@perpetua.us</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>Cautionary
Statement Regarding Forward-Looking STATEMENTS OR INFORMATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Investors should be aware that the EXIM Letter
of Interest (&ldquo;LOI&rdquo;) 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&rsquo;s application is approved, there can be no assurance that the EXIM financing will be for the
full amount indicated in the LOI or the increased amount requested in the application, or that the approved 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.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>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 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. Further, a buy back of a portion of the royalty would
be subject to the satisfaction of certain conditions and covenants by the Company under the royalty and financing arrangement.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><I>Investors should be aware that state regulators are not bound by
permitting schedules and anticipated timelines may be delayed materially or not be satisfied.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #2b579a; background-color: #E6E6E6"></FONT></P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify"><TD STYLE="text-align: center; width: 20%">&nbsp;</TD><TD STYLE="text-align: center; width: 60%"><IMG SRC="tm2517717d2_fwpimg002.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: center; width: 20%">&nbsp;</TD></TR><TR STYLE="vertical-align: top; text-align: justify"><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">Responsible Mining. Critical Resources. Clean Future.</TD><TD STYLE="text-align: right">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD></TR></TABLE><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #2b579a; background-color: #E6E6E6"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #2b579a; background-color: #E6E6E6"></FONT></P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2517717d2_fwpimg003.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Statements contained
in this news release that are not historical facts are &quot;forward-looking information&quot; or &quot;forward-looking statements&quot;
(collectively, &quot;Forward-Looking Information&quot;) 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, disclosure regarding
the conduct of the Offering and Private Placement; the granting of the Underwriters&rsquo; over-allotment option; the anticipated use
of proceeds from the Offering and Private Placement; the occurrence of the expected benefits from the anticipated use of proceeds from
the Offering, Private Placement, EXIM financing and royalty financing</I></FONT><I> disclosure regarding the review process, anticipated
timing and potential outcome of the Company&rsquo;s EXIM financing application; the amount of potential debt financing available to the
Company; the eligibility of the Project for funding under the MMIA and CTEP initiatives; the timing and potential outcome of any other
discussions with governmental agencies; the status and anticipated terms and timing of the royalty, streaming and financial assurance
negotiations; the estimate of the initial financial assurance obligations; the anticipated timing of the issuance of certain state permits
or a USFS notice to proceed; our ability to fully fund the construction of the Project and related financial assurance obligations; our
ability to successfully implement and fund the Project; and the occurrence of the expected benefits from the Project, including providing
a domestic source of antimony, national defense benefits, creation of jobs and environmental benefits. 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 &quot;anticipate&quot;,
 &quot;expect&quot;, &quot;plan&quot;, &quot;likely&quot;, &quot;believe&quot;, &quot;intend&quot;, &quot;forecast&quot;, &quot;project&quot;,
 &quot;estimate&quot;, &quot;potential&quot;, &quot;could&quot;, &quot;may&quot;, &quot;will&quot;, &quot;would&quot; or &quot;should&quot;.
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 EXIM application will be reviewed and approved within the expected timeframe at the amount equal
to or higher than the amount indicated in the LOI; that the Company will be able to satisfy the conditions to obtain a funding commitment
from EXIM and to receive committed funds when needed; the ongoing royalty 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&rsquo;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; 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; that general business and economic conditions will not change in a materially adverse manner and
that permitting and operations costs will not materially increase; and that we will be able to discharge our liabilities as they become
due and continue as a going concern. 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, &nbsp;risks related to delays in the EXIM application review process; any approved amount of
EXIM financing may not be sufficient to commence construction of the Project; the terms of the guarantee agreement and related surety
agreements may not be sufficient to satisfy financial assurance requirements applicable under applicable federal and state law; 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 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 &quot;Risk
Factors&quot; and &quot;Management's Discussion and Analysis of Financial Condition and Results of Operations&quot; 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.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.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 4; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify"><TD STYLE="text-align: center; width: 20%">&nbsp;</TD><TD STYLE="text-align: center; width: 60%"><IMG SRC="tm2517717d2_fwpimg002.jpg" ALT="">&nbsp;</TD><TD STYLE="text-align: center; width: 20%">&nbsp;</TD></TR><TR STYLE="vertical-align: top; text-align: justify"><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">Responsible Mining. Critical Resources. Clean Future.</TD><TD STYLE="text-align: right">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD></TR></TABLE><P STYLE="margin: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>tm2517717d2_fwpimg001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2517717d2_fwpimg001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0@)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !@ 0D# 2(  A$! Q$!_\0
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M<.L,:DLX!Z9+J ?Q'8T[2E'WMR;QC+W=CZ"O-=TC3IQ!>ZK8VTQZ1S7"(Q_
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MZ7/HVFW.I0ZC-9Q/=P_<E(Y'^..V>E7JYWP/J?\ :GA6T=WW2P@P2>N5Z?\
MCN*Z%F5%W,P4>I.*MW3L:*S5Q:*RKSQ+HE@";C5+52.JK(&;\ADURVI>/[B]
M?[-X9LGN'_BGD0[5^@_J<?2FH2>Q,IQBKMEG7KZ&;XD^$[)&S+;W:/)[;W3
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M+]U*DB1EU22/'# =.@/OFKNN:WD19\K=NIZQXP_Y$G7O^P=<?^BVKR[X"_\
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8H **** "BBB@ HHHH **** "BBB@#__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>tm2517717d2_fwpimg002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2517717d2_fwpimg002.jpg
M_]C_X  02D9)1@ ! 0$ R #(  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1"  A !D# 2(  A$! Q$!_\0
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$% '_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>tm2517717d2_fwpimg003.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2517717d2_fwpimg003.jpg
M_]C_X  02D9)1@ ! 0$       #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1" !? $D# 2(  A$! Q$!_\0
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ML[>.-0:TT_1[9,W.MOID%W\; 8K6&.2[NEU?7=$6.(-)?75A&DD@_4;]@?\
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CPP^%HTJ%"FK0I4H*$8]]%JY/>4I.4Y/64I-W"BBBLCH/_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
