Recent Updates — PPTA

Perpetua Resources announced that its subsidiary, Perpetua Resources Idaho, Inc., entered into an Ordnance Technology Initiative Agreement with the U.S. Army’s Defense Ordnance Technology Consortium to evaluate the technical and economic feasibility of producing tungsten concentrate at the historical Stibnite Mining District. The initiative provides for a total estimated cost and cost-share of up to approximately $85 million and $45 million, respectively, over a performance period extending through October 19, 2029. The U.S. Army will contribute $40 million, with Perpetua matching this amount in the joint investment. The initial 18-month phase is expected to cost approximately $18 million and be shared equally between both parties. Additionally, the company amended outstanding warrants exercisable for an aggregate of 1,607,802 common shares, extending their expiry dates by up to six months. Perpetua Resources Corp. operates in the mining industry, focusing on the development of critical mineral projects.

On June 4, 2026, shareholders approved the 2026 Equity Incentive Plan, which amends and restates the existing Omnibus Equity Incentive Plan while maintaining a share reserve of 8,280,530 shares. The company also elected nine directors and ratified PricewaterhouseCoopers LLP as its independent auditor. Legally, the U.S. District Court for the District of Idaho granted a motion to dismiss the amended complaint in the Barnes et al. v. Perpetua Resources Corp. securities class action without prejudice, allowing plaintiffs to file a second amended complaint by July 3, 2026. Additionally, the company is awaiting a June 24, 2026, hearing on summary judgment motions regarding a lawsuit filed by environmental groups concerning the Stibnite Gold Project. Perpetua Resources Corp. is a mining company focused on the development of the Stibnite Gold Project.