Perpetua hires Hatch as EPCM contractor at Stibnite

Mr. Jon Cherry reports PERPETUA RESOURCES SELECTS HATCH AS EPCM FOR STIBNITE GOLD PROJECT Perpetua Resources Corp. has selected Hatch Ltd. as the engineering, procurement and construction management (EPCM) contractor for the Stibnite gold project. The appointment of Hatch follows a highly competitive review process and marks a major milestone in Perpetua's transition from planning to development, ahead of a final investment decision expected in the spring of 2026. The EPCM selection strengthens Perpetua's readiness to responsibly deliver one of the most strategically important mining projects in the United States. Hatch is also making a $4-million equity investment in the company. "Hatch brings the depth, discipline and proven execution capability required to responsibly deliver the Stibnite gold project," said Jon Cherry, president and chief executive officer of Perpetua Resources. "Their experience with sophisticated mining and metallurgical facilities in the United States will play a critical role in advancing Stibnite to the next phase of development. Today's decision reflects our commitment to a robust construction strategy that combines top-tier engineering and project management while serving our national interest." Hatch's internationally recognized expertise in pressure oxidation technology and metallurgical processing facilities, combined with a decades-long record of successfully executing large-scale mining projects across North America, makes Hatch the ideal partner for development of the SGP. Under the EPCM agreement, Hatch will deploy an integrated project team with an extensive record of delivering mining and metallurgical facilities similar in scale and scope to the Stibnite gold project. "Perpetua's vision for Stibnite aligns with our belief that world-class projects demand world-class execution," said John Bianchini, chair and chief executive officer of 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. Partnering with Perpetua to safely and efficiently deliver this project is our highest priority." Under the EPCM model, Hatch will be responsible for: 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. This comprehensive mandate is intended to ensure continuity of execution, transparent governance and predictable delivery outcomes -- key priorities for Perpetua, its stakeholders and project financing partners. The selection of Hatch advances Perpetua's construction readiness and supports continuing financing due diligence with the U.S. Export-Import Bank. Perpetua conducted an in-depth selection process which was guided by a multidisciplinary evaluation matrix. Only firms with demonstrated technical depth, commercial competitiveness and previous engagement with the SGP were invited to bid. Hatch emerged as the clear leader across commercial, technical and execution-readiness criteria. The equity investment by Hatch was not a factor in the company's selection of Hatch as EPCM contractor, and the terms of the EPCM agreement are not contingent on the private placement. The company and Hatch are currently negotiating terms of the definitive EPCM contract to reflect the terms of Hatch's winning bid. The EPCM contract is expected to be finalized in the coming weeks. The private placement will comprise the issue of 138,696 common shares at the price of $28.84 per share, which was the closing price of the company's common shares on the Nasdaq on Friday, Dec. 12, 2025. The common shares will be issued and sold pursuant to an exemption from registration under the Securities Act of 1933, as amended. The company intends to rely on the exemption in Section 602.1 of the TSX Company Manual in respect of the private placement as an eligible interlisted issuer. 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. No securities regulatory authority has either approved or disapproved the contents of this news release. The private placement is expected to close in two equal tranches upon reaching certain milestones. The proceeds of the private placement will be used to support the construction and development of the project or for general corporate purposes. Stibnite remains the only known domestic reserve of antimony capable of meeting United States defence requirements for munitions. The project's unique combination of critical mineral production and legacy mine site restoration positions it as a strategic asset for national supply chain resilience. About Perpetua Resources Corp. Perpetua Resources, 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. Antimony trisulphide from Stibnite is the only known domestic reserve of antimony that can meet U.S. defence needs for many small arms, munitions and missile types. We seek Safe Harbor.