Perpetua hires Hatch as EPCM contractor at Stibnite

Executive Summary

• Perpetua Resources Corp. has selected Hatch Ltd. as the Engineering, Procurement, and Construction Management (EPCM) contractor for its Stibnite Gold Project, marking a major milestone in the transition from planning to development ahead of a final investment decision in spring 2026.
• As part of the agreement, Hatch is making a $4-million equity investment in Perpetua Resources through a private placement of common shares.
• The selection of Hatch follows a competitive review process and strengthens Perpetua's readiness for project financing due diligence with the U.S. Export-Import Bank.

Key Details

• EPCM Contract: Hatch Ltd. selected as EPCM contractor for the Stibnite Gold Project.
• Hatch Responsibilities:
  • Comprehensive process plant and site infrastructure engineering and design.
  • Procurement management for all major site equipment and systems.
  • Construction management across the full process facility scope and other site infrastructure.
  • Integrated project controls, reporting, and performance management standards.
• Equity Investment: Hatch is investing $4 million in Perpetua Resources.
• Private Placement Terms:
  • Quantity: 138,696 common shares.
  • Price: $28.84 per share (closing price on Nasdaq, Dec. 12, 2025).
  • Total Proceeds: Approximately $4,000,000 (138,696 shares * $28.84).
  • Structure: Issued pursuant to an exemption from registration under the Securities Act of 1933 and Section 602.1 of the TSX Company Manual.
  • Closing: Expected to close in two equal tranches upon reaching certain milestones.
  • Use of Proceeds: Support construction and development of the project or for general corporate purposes.
• Strategic Context:
  • Final Investment Decision (FID) expected in spring 2026.
  • Hatch's equity investment was not a factor in the EPCM selection, and EPCM terms are not contingent on the private placement.
  • Definitive EPCM contract expected to be finalized in the coming weeks.
  • Project supports financing due diligence with the U.S. Export-Import Bank.
  • Stibnite is the only known domestic reserve of antimony capable of meeting U.S. defense requirements for munitions.

Notable Quotes

• Jon Cherry, President and CEO, Perpetua Resources: "Hatch brings the depth, discipline and proven execution capability required to responsibly deliver the Stibnite gold project... Today's decision reflects our commitment to a robust construction strategy that combines top-tier engineering and project management while serving our national interest."
• John Bianchini, Chair and CEO, Hatch: "Our team understands the strategic importance of domestic mineral supply chains and the opportunity at Stibnite to bring modern engineering, responsible construction and operational excellence together in service of U.S. industry and national resilience. We are so well aligned with Perpetua's strategic vision that we are making our own $4-million equity investment."