Perpetua Resources Corp. · TSX:PPTA
Perpetua Resources — Investor Presentation (June 2025)
26 slides from Perpetua Resources's investor presentation, Jun 18, 2025
Slide 1: Perpetua Resources Webinar Presentation – June 2025
Webinar Presentation – June 2025 N A S DAQ :P P TA T S X : P P TA Perpetua Resources Responsible Mining. Critical Resources. Clean Future.
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Information and statements contained in this presentation that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the
Slide 3: Cautionary Note & Technical Disclosure
CAUTIONARY NOTE & TECHNICAL DISCLOSURE The presentation has been prepared by Perpetua Resources management and does not represent a recommendation to buy or sell these securities. Investors should always consult their investment advisors prior to making any investment decisions. All references to “d
Slide 4: Funding Plan for Stibnite Gold Project Development
FUNDING PLAN FOR STIBNITE GOLD PROJECT DEVELOPMENT Stibnite Gold Project Anticipated Capital Sources Financial Financing Component Equity Royalty/Stream Assurance U.S. EXIM Loan Guarantee $412M1 $200-$250M2 Amount (net proceeds) (net proceeds) $155M2 Up to $2B3 Formal loan Status ✓ Secured In progre
Slide 5: Illustrative Equity Valuation Once in Production
ILLUSTRATIVE EQUITY VALUATION ONCE IN PRODUCTION Illustrative Equity Valuation as of Year 1 of Operations* $8.0 Illustrative Equity Valuation as of year 1 of operations ($B) $6.0 $5.0 $4.0 $3.8 $2.5 $2.0 $1.4 $- PPTA Market Cap $2,500/oz $3,000/oz $3,500/oz Gold Price Assumption ($/oz) *Illustrative
Slide 6: Largest Independent U.S. Gold Reserve
LARGEST INDEPENDENT U.S. GOLD RESERVE 1 Independent Gold Project Mineral Reserves1 2 Perpetua (Stibnite) 4.8 Castle Mountain 4.2 Marigold 2.9 Round Mountain 2.0 Haile3 1.8 DeLamar 1.8 Railroad-Pinion 1.6 Goldfield 1.3 Rochester 1.2 North Bullfrog 1.0 Florida Canyon 0.9 Wharf 0.8 0.0 1.0 2.0 3.0 4.0
Slide 7: Highest Grade Open Pit Gold Deposit
HIGHEST GRADE OPEN PIT GOLD DEPOSIT* Independent Open Pit Gold Deposits1 2 Perpetua (Stibnite) Years 1-4 2.2 Haile3 1.6 2 Perpetua (Stibnite) Yrs LOM 1.4 Goldfield 1.0 Wharf 1.0 Round Mountain 0.8 Railroad-Pinion 0.8 Hasbrouck 0.6 Marigold 0.5 Castle Mountain 0.5 Bald Mountain 0.5 Mesquite 0.5 DeLam
Slide 8: Poised to Be Largest Independent U.S. Gold Producer
POISED TO BE LARGEST INDEPENDENT U.S. GOLD PRODUCER Independent Projects and Producing Gold Mines1 Perpetua (Stibnite) Years 1-4 3 463 3 Perpetua (Stibnite) Yrs LOM 296 Marigold 278 Round Mountain 236 Haile4 163 Bald Mountain 158 Railroad-Pinion * 124 Wharf 94 Mesquite 88 * Goldfield 77 Florida Cany
Slide 9: Lowest All-in Sustaining Costs
LOWEST ALL-IN SUSTAINING COSTS 1 $1,750 Gold Projects with >250,000 production in Tier 1 Jurisdiction2 All-in Sustaining Costs ($/oz)1,2 $1,500 $1,250 $1,000 $756 $750 $500 $435 $250 $0 Stibnite (Yrs 1-4) Stibnite (LOM) Blackwater Project Mount Magnet (Hill 50) Cortez (& Goldrush) Hardrock Project C
Slide 10: Extensive Exploration Upside
EXTENSIVE EXPLORATION UPSIDE EXISTING DEPOSITS: S T I B N I T E G O L D P R OJ EC T M I N E R A L E N D OW M E N T * * 10.0 Million gold ounces • Northeast of Yellow Pine Deposit 9.0 • Below Hangar Flats pit & Old Defense Minerals Exploration Act (DMEA) working area 8.0 1.2 • West End along strike a
Slide 11: Known High Grade Mineralization Near Yellow Pine Pit
KNOWN HIGH GRADE MINERALIZATION NEAR YELLOW PINE PIT • Yellow Pine deposit open* to northeast; • Intercepts outside pit include: 163ft (49m) @5.42g/t Au 112ft (34m) @2.82g/t Au • Excellent near pit target to existing Yellow Pine Pit Source: SGP 2021 FS, Figure 16-7, p. 16-9 *Some of the prospects ar
Slide 12: Substantial High Grade Resources Near Hangar Flats Pit
SUBSTANTIAL HIGH GRADE RESOURCES NEAR HANGAR FLATS PIT • Hangar Flats open at depth and along strike*; • Intercepts outside pit include: 348ft (106m) at 3.16g/t Au and 0.08% Sb 249ft (75m) at 2.82g/t Au and 2.14% Sb 247ft (75m) at 4.69g/t Au and 0.2% Sb 144ft (43m) at 3.51g/t Au and 1.8% Sb Source:
Slide 13: Previously Drilled Holes Validate Priority Exploration Targets Outside of Resources
PREVIOUSLY DRILLED HOLES VALIDATE PRIORITY EXPLORATION TARGETS OUTSIDE OF RESOURCES • Scout: 396ft (120m) at 1.2g/t Au and 0.5% Sb 20ft (6m) at 6.0 g/t Au and 6.0% Sb 247ft (75m) at 4.69g/t Au and 0.2% Sb 144ft (43m) at 3.51g/t Au and 1.8% Sb • Upper Midnight: 100ft (30m) at 6.72g/t Au 75ft (22m) at
Slide 14: Only U.S. Reserve of Antimony
ONLY U.S. RESERVE OF ANTIMONY1 ANTIMONY - IT’S CRITICAL World Antimony 2024 Production (USGS) Turkey 1.6% ✓ Antimony is essential to industrial and national defense Bolivia 3.7% Burma 4.5% ✓ The United States has no domestic mined production Australia 2.0% ✓ China & Russia dominate the world supply
Slide 15: Antimony Critical for Defense Purposes
ANTIMONY CRITICAL FOR DEFENSE PURPOSES 15
Slide 16: U.S. Industry Reliant on Antimony
U.S. INDUSTRY RELIANT ON ANTIMONY 16
Slide 17: Leading Perpetua Forward
LEADING PERPETUA FORWARD Presenter Biography Experience & Expertise • 30+ years of experience developing mining projects, including extensive ✓ U.S. Permitting Jon Cherry permitting experience in the U.S. President, ✓ Stakeholder Relations CEO & Director • Most recently served as Chairman, President
Slide 18: Key Development Team Leaders
KEY DEVELOPMENT TEAM LEADERS Team lead Prior Experience Experience & Expertise Travis Walker Kışladağ/Eldorado Gold - Process Manager, Mansourah Massarah/Ma'aden - Process Manager, ✓ Mine operations Operations Peñasquito/Newmont - Superintendent Process Operations, Pueblo Viejo/Barrick - General Sup
Slide 19: Stibnite Gold Project Site Layout
STIBNITE GOLD PROJECT SITE LAYOUT • Three open pits (Yellow Pine, Hangar Flats, West End) and reprocessing of historical tailings • Tunnel to manage fish and water around Yellow Pine Pit • Ore stockpiling to bring high-grade ore forward while increasing mineral reserves and mine life • Centrally loc
Slide 20: Overall Engineering Nearly 50% Complete
OVERALL ENGINEERING NEARLY 50% COMPLETE SCOPE STATUS (% COMPLETE) Tailings Storage Facility (TSF) 99% Burntlog Route (BLR) 95% EFSFR Diversion Tunnel 60% Sanitary Wastewater Treatment 60% Construction Water Treatment 40% Worker Housing Facility 40% Process Plant 35% Transmission Powerline 35% 20
Slide 21: Path Forward for the Stibnite Gold Project
PATH FORWARD FOR THE STIBNITE GOLD PROJECT * Remaining Ancillary Permits, Project Financing and Development Activities Anticipated in 2025 2026 2029 Close EXIM debt Commercial Operations Q3 2025 Early Works financing Construction Decision Summer 2025 Post Financial Assurance Summer 2025 Close royalt
Slide 22: Unlocking Value Through Development
UNLOCKING VALUE THROUGH DEVELOPMENT ARTEMIS SHARE PRICE PERFORMANCE G MINING SHARE PRICE PERFORMANCE SKEENA SHARE PRICE PERFORMANCE $30.00 C$/share $20.00 C$/share $25.00 C$/share $18.65 $26.71 $18.00 $25.00 +233% +301% $16.00 +548% $20.00 $19.49 $21.19 $14.00 $20.00 $12.00 $15.00 $15.03 $10.16 $15.
Slide 23: Perpetua Resources Poised for Success
NASDAQ:PPTA TSX:PPTA PERPETUA RESOURCES POISED FOR SUCCESS World class gold-antimony project and national strategic asset Superb Economics1,2 Exploration Upside1 Critical Mineral Milestones & Catalysts Large reserve 4.8 Moz gold reserves Only U.S. reserve of ✓ Jan ‘25 – Final Record of Decision High
Slide 24: Q&A
Q&A
Slide 25: Regulatory Information
REGULATORY INFORMATION The FS was compiled by M3 Engineering & Technology Corporation (“M3”) in accordance with NI 43-101 under the direction of independent qualified persons (as defined in NI 43-101) (“Independent QPs”). Independent QPs for the FS include: Richard Zimmerman, SME-RM (onsite and offs
Slide 26: Non-GAAP Measures
NON-GAAP MEASURES This presentation includes disclosure of certain non-GAAP financial measures or ratios, including expected Cash Costs, Total Cash Costs, All-In Sustaining Costs (AISC), Average Annual EBITDA and Average Annual Free Cash Flow (FCF) with respect to the expected results of the Project
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