Highlights

  • Perpetua Resources posts USD 139M financial assurance to commence Stibnite construction.
  • Stibnite Project expected to produce 450,000 ounces of gold annually initially.
  • Over 950 direct jobs anticipated during construction and 550 during operations.

Perpetua Resources Corp. (TSX:PPTA) has commenced early works construction for the Stibnite Gold Project in Idaho. This development follows the Company posting USD 139M in construction phase financial assurance and receiving the Notice from the U.S. Forest Service (USFS) confirming that the requirements of the 2025 Record of Decision (ROD) have been satisfied, and the Plan of Operations has been signed.

Management Commentary

"Today, we break ground on the Stibnite Gold Project," said Jon Cherry, Perpetua Resources President and CEO. "As America's answer to China's antimony export bans, we are focused on swiftly and safely bringing our antimony and gold project into development. After nine years of permitting, Stibnite can once again serve this country's national interest. We are proud of our work to bring this essential project online to provide critical resources while restoring an abandoned mine site. With our reclamation performance bond to reclaim the work we undertake at the Project site in place, we officially started early works construction today and are making good on our promises to Idaho and America."

Regulatory Approvals and Financing
Perpetua received the Final ROD in January 2025. In September 2025, the Company obtained a conditional Notice to Proceed from the USFS confirming that ROD requirements necessary to start construction had been met. On October 17, 2025, Perpetua posted financial assurance secured with cash to commence early works, with plans to replace this arrangement with non-cash financial assurance as part of the final project financing.

The Project has been under permitting for nine years and has received USD 80M in Department of War funds, also benefiting from prioritization under the Trump Administration's Transparency Project initiative.

Project Overview
The Stibnite Gold Project contains the only U.S. reserve of antimony, a critical mineral used in defence and industrial applications. In addition to antimony, the Project is expected to be one of the highest-grade open-pit gold mines in the U.S., with estimated gold reserves of approximately 4.8 million ounces and projected production of around 450,000 ounces annually over the first four years.

The development also includes environmental restoration, including the cleanup of legacy contamination, reconnecting fish to native spawning grounds, and restoring habitat at the historical mine site.

Employment and Financing Support
Perpetua anticipates creating more than 950 direct jobs during construction and over 550 direct jobs during operations. In September 2025, the Company received a preliminary project letter and indicative term sheet from the U.S. Export-Import (EXIM) Bank’s Make More in America and China Transformational Export Programs to support USD 2B in debt financing, with final EXIM Board consideration expected by spring 2026.