Perpetua Resources Receives Preliminary Project Letter and Indicative Term Sheet from the Export-Import Bank of the United States on Potential $2 Billion Debt Financing

Executive Summary

• Perpetua Resources received a non‑binding, indicative term sheet and Preliminary Project Letter from EXIM outlining initial due‑diligence findings on its request for up to $2 billion in debt financing for the Stibnite Gold Project.
• The company will continue advancing through EXIM’s loan application process, with final board consideration expected by spring 2026.
• Management highlighted recent milestones – receipt of the final federal permit and a prior equity offering – and indicated parallel work on a royalty/stream arrangement and early‑works construction slated for fall 2025.

Key Details

• Financing Request: Up to $2 billion in debt financing from the U.S. Export‑Import Bank of the United States (EXIM).
• Current Status: Received a preliminary, non‑binding indicative term sheet and a Preliminary Project Letter (PPL) summarizing EXIM’s initial due‑diligence findings.
• Next Steps: Continue due‑diligence with EXIM; target final EXIM Board consideration in spring 2026.
• Project Context: Financing is intended to fund the Stibnite Gold Project – a high‑grade open‑pit gold deposit that also produces antimony, a critical U.S. defense material.
• Recent Milestones:
• Final federal permit for the Stibnite Gold Project obtained in Q2 2025 after eight years of interagency coordination.
• Successful equity offering earlier in 2025 (details not disclosed).
• Parallel Financing Activities: Company is negotiating a potential royalty or streaming arrangement with financial‑assurance guarantees to complement EXIM debt financing.
• Construction Timeline: Early‑works construction planned to commence Fall 2025, contingent on securing financing and meeting permitting conditions.

Notable Quotes

“Perpetua Resources received its final federal permit for the Stibnite Gold Project in the second quarter of 2025, after eight years of rigorous interagency coordination and review,” said Jon Cherry, President and CEO.
“Following the successful equity offering earlier this year, Perpetua is focused on finalizing a potential royalty or stream arrangement with financial assurance guarantees, commencing early works construction in the fall of 2025 while advancing the EXIM debt financing.”