Perpetua Resources Corp. (NASDAQ:PPTA) (TSX:PPTA) ("Perpetua Resources" or "Perpetua" or the "Company") announced today that the Board of the Export-Import Bank of the United States ("EXIM") has unanimously approved a $2.9 billion senior secured long-term loan ("Loan") under the Make More in America Initiative ("MMIA") to support the development of Perpetua's Stibnite Gold Project ("Stibnite" or "Project"). EXIM's approval comes after extensive technical, financial, environmental and social due diligence and a 25-day notice period to Congress.

"It is time to make more in America and today marks not only a key milestone for Perpetua Resources, but a significant step in mineral security for our country," said Jon Cherry, President and CEO of Perpetua Resources. "When the federal government and private industry work together on a shared national priority, big things are made possible. The $2.9 billion loan positions us to bring the Stibnite Gold Project to life and signals a new day in American mineral independence and responsible mining. We are immensely proud of our role in strengthening America's national security, creating hundreds of jobs in rural Idaho, and reducing our dependence on foreign adversaries for a mineral we cannot do without."

The Stibnite Gold Project is an ideal candidate for U.S. EXIM financing as it sits at the nexus of EXIM's highest priority mandates – strengthening America's industrial manufacturing supply chains, domestic job support, and critical mineral independence to advance both national security and domestic industrial and commercial manufacturing needs.

EXIM's decision marks a landmark transaction under the MMIA Initiative and advances American production and manufacturing to be more competitive on the world stage. As the only identified domestic reserve of antimony, EXIM's investment in the Project advances American critical mineral independence for antimony. 

"Idaho's abundant critical and rare earth minerals are essential to reducing U.S. dependence on foreign suppliers," said U.S. Senator for Idaho James Risch. "This investment will help expand our domestic critical mineral supply, create high-quality jobs in rural America, and strengthen our national security."

"This investment strengthens America's economic and national security by advancing a reliable domestic supply of critical minerals essential to our manufacturing and defense industries," said U.S. Senator for Idaho Mike Crapo. "The Export-Import Bank's Make More in America initiative is helping secure the infrastructure needed to reduce our dependence on foreign adversaries, support American workers and reinforce our long-term industrial competitiveness.  It is encouraging to see this effort moving forward in Idaho, where it has the potential to create hundreds of high-quality jobs, long-term economic competitiveness and supply chain security."

The EXIM financing package, combined with Perpetua's cash on hand, is expected to fully fund the direct construction of the Stibnite Gold Project based on the current capital cost estimates as reported in the Company's Technical Report Summary as of December 31, 2025. Underpinned by robust economics from gold, the Stibnite Gold Project is designed to responsibly redevelop and restore the abandoned Stibnite Mining District in Idaho to produce gold and the nation's only reported reserve of the critical mineral antimony. In doing so, the Project would provide investments in environmental cleanup of the historical site, secure a source of antimony for American commercial and defense manufacturing, and create an average of over 700 direct jobs a year over the life of the mine and significant tax revenue for local communities and the state of Idaho.

"There is no better place to deploy US EXIM's $2.9 billion investment than right here in the heart of Idaho," said Idaho Governor Brad Little. "The Stibnite Gold Project is exactly the kind of project America needs. It will create hundreds of family-wage jobs and break America's dependence on our adversaries for the antimony our military and manufacturers need. Thank you to EXIM for this vote of confidence in the Gem State, and congratulations to Perpetua Resources on a milestone that strengthens Idaho and the nation."

To date, the Stibnite Gold Project has gone through rigorous scientific and public review, was identified as a Transparency Project under the FAST-41 Program and has received substantial support and partnership from the Department of War. Today's EXIM financing announcement illustrates a whole-of-government approach to advance this project towards production.

The Loan will be available upon completion of definitive documentation and satisfaction of customary conditions precedent, which is expected to occur in the second half of 2026. The Loan is to be structured as a 13-year senior secured credit facility of $2.9 billion, consisting of an upfront facility of $2.4 billion with the remainder to cover capitalized interest during construction and EXIM's exposure fee. The increase in the principal amount of the Loan compared to the initial EXIM Board review primarily relates to adding an option to move certain planned equipment financing from a third-party financing company into the EXIM Loan.