Perpetua Resources to receive up to $34.6M from Department of Defense

Perpetua Resources’ wholly owned subsidiary, Perpetua Resources Idaho, was conditionally awarded up to $34.6M in additional funding under the existing Technology Investment Agreement through Title III of the Defense Production Act. Full funding of the additional award is conditioned on modifying the existing TIA to expand the in-scope work for advancing permits and construction readiness. The modification is anticipated to be completed in Q1. Antimony trisulfide is essential to national defense as a key component for munitions, yet no domestic mined supply currently exists. Perpetua’s proposed Stibnite Gold Project is designed to re-establish a U.S. source of the critical mineral antimony as a by-product of one of the highest-grade open pit gold resources in the U.S. Under the modified TIA, Perpetua may request reimbursement for certain costs incurred through June 30, 2025 related to environmental baseline data monitoring, environmental and technical studies and other activities related to advancing Perpetua’s construction readiness and permitting process for the Stibnite Gold Project.