Perpetua Resources President and CEO, Jon Cherry stated: "We are making continuous progress in various areas, including the construction of Burntlog Route and worker housing, the development of transmission line infrastructure, as well as the expansion of our drilling programs."

He added, "These advancements reflect the dedication of every member of the Perpetua Resources team as well as our partners who are working alongside us. Together, they are advancing exploration, construction, and site restoration efforts, while also enhancing the supply of critical minerals in the United States."

Recent Progress

Burntlog Route Continuously advancing

Burntlog Route is a year-round accessible road that will serve the project. With the commencement of the summer construction season, the construction of this road has been accelerated. The construction team is advancing along the route, including clearing the dead trees left by past wildfires before starting the earthwork projects.

After completing this preliminary work, the excavators and earth-moving trucks continued to advance with the construction of the pilot road, cutting and shaping the road surface, and transporting the excavated materials to the designated dumping areas.

Upon completion, Burntlog Route will provide Perpetua with a wider and upgraded road that can accommodate larger loads and equipment.

Permanent worker housing construction continues to accelerate

In late August, the civil engineering work for the workers' housing facilities was completed, and foundation installation began in preparation for the placement and construction of the camp modules.

Currently, the treated wooden foundations are being installed to support the kitchen, dining area, and leisure modules; the Triodetic ™ metal foundations will support the dormitory building as well as the polar corridor that connects these facilities.

The delivery of transmission line equipment continues.

The upgrade of transmission lines is very important for project development, as the upgraded lines will provide the necessary grid power for the project's processing facilities and on-site operations. Perpetua is working closely with its partner Idaho Power Co. Significant progress has been made in the procurement of key equipment and materials. Power-related items with longer delivery cycles, such as substations and transformers, have also been ordered to ensure timely delivery. Necessary items such as utility poles and auxiliary equipment have been purchased and transported to the storage areas Perpetua located in Idaho at Donnelly and Cascade.

The exploration plan includes drilling more than 10,000 meters.

Multiple targets of Stibnite are still under drilling, including Clark Tunnel Fault Zone ( CTFZ ), Fiddle , Scout , and Hangar Flats . The exploration results to date have prompted the company to expand the previously defined 10,000-meter plan, which surpassed this milestone in August and will continue until autumn. To support the expanded plan, Perpetua upgraded the on-site core cutting and preparation facilities during the summer and has already begun testing the completed boreholes.

CTFZ is located on the northeast edge of the licensed mine site Yellow Pine. Due to the discovery of significant near-surface gold grades during initial drilling, this area was given priority for further exploration (see press release dated August 6, 2026). In addition to the high gold grades, the company also found tungsten mineralization at CTFZ, which further supports the continuously expanding key mineral reserves at Perpetua. Subsequent drilling efforts focused on further defining this area, and by the end of August, a total of 5 holes totaling 1,900 meters had been drilled. The company previously mentioned that white tungsten mineral (scheelite), a type of tungsten-containing mineral, continued to be observed in subsequent core samples. A simple test using black light revealed that white tungsten mineral emits fluorescence under black light, as shown in the image below.

At the southern end of the licensed Yellow Pine mine pit, step drilling continues to assess the lateral and vertical extension of known mineralization. Related work includes drilling tests on the Fiddle target, and excitation polarization studies on Perpetua indicate that this target has potential for gold and antimony. In total, as of the end of August, 8 holes with a combined length of 2,400 meters have been completed, and another 2 holes are currently in progress.

At the Scout site, as of the end of August, 15 holes with a total length of 2,300 meters have been completed, with a planned total of 21 holes for the quarter. At Scout, drilling was previously carried out in 2013, and test results indicated significant gold-antimony mineralization. The U.S. Forest Service, which is managing the project, has approved the construction of an exploration tunnel to access this mineralized area in the records.

For the target exploration areas in the current job plan that have not been approved for mining, any future development must first undergo additional environmental reviews and obtain the necessary permits before mining can commence.

The momentum continues into autumn.

Looking to the future, Perpetua will continue to advance on the key path of work throughout the fall, including the delivery of the bridge for Burntlog Route, the installation of worker housing facilities, and the procurement of transmission lines. The company will continue drilling with 4 rigs and gradually slow down before winter arrives; as exploration results come in one after another, the company expects to release more test results.

Regarding Perpetua Resources and Stibnite Gold Project

Perpetua Resources Corp. Through its wholly-owned subsidiary, it focuses on the exploration, site restoration, and redevelopment of gold, antimony, and silver deposits in the central region of Idaho, USA. Stibnite - Yellow Pine. Stibnite Gold Project is one of the highest-grade open-pit gold deposits in the United States and possesses the only confirmed domestic reserves of antimony, a critical mineral for national defense, energy, and manufacturing. The project aims to restore historical mining areas using modern and responsible mining methods, while supporting economic development in rural Idaho, improving water quality, enhancing fish habitat accessibility, and investing in river restoration.

Forward-looking Information

Information and statements in this press release that are not historical facts are considered "forward-looking information" or "forward-looking statements" as defined by Canadian securities regulations and the U.S. Private Securities Litigation Reform Act of 1995 (collectively referred to as "forward-looking information"). The company uses terms such as "may", "would", "could", "should", "will", "expect", "anticipate", "believe", "intend", "plan", "potential", "estimate", and similar expressions to identify forward-looking statements or forward-looking information. Forward-looking information includes, but is not limited to, business information related to (Perpetua Resources Corp ) (the "Company") and (Stibnite Gold Project ) (the "Project"), including but not limited to the timing and results of construction and preliminary engineering activities; the design, manufacture, delivery, and commissioning of project equipment and infrastructure, including (autoclave ); expected project outcomes and benefits; ongoing financing and anticipated liquidity; expected economic, environmental, and other benefits of the project; ongoing and planned exploration activities; interpretation of drilling results; the potential to supplement or expand existing mining plans; and the possibility of future permits or regulatory approvals related to areas outside the current approved project scope.

In preparing the forward-looking information in this press release, the company has made several significant assumptions, including but not limited to the interpretation of drilling results, the geology of mineralization, grade, and continuity; that the current exploration, development, environmental, and other objectives of the project can be achieved; that licensing, construction, or operating costs will not increase significantly; that the company will continue to meet the requirements of applicable licenses and government approvals; and that legal challenges, regulatory procedures, or institutional actions will not result in any significant loss of licenses, major delays in project progress, or significant increases in project costs.

Forward-looking information involves known and unknown risks, uncertainties, and other factors that may lead to significant differences between the actual results, performance, or achievements of the company and the future results, performance, or achievements implied or stated in such forward-looking information. Such risks and uncertainties include, but are not limited to: exploration results may not be sufficient to support the conversion of mineralization into resources or reserves; activities outside the current project scope may require additional environmental reviews or permits; development, construction, operation, or licensing costs may increase; contractors, suppliers, or service providers may not perform as expected; manufacturing, delivery, weather, wildfires, on-site access conditions, or other on-site factors may delay construction, procurement, or drilling activities, and permits or other approvals may be delayed due to legal challenges affecting the project, regulatory procedures, institutional actions, or other administrative or judicial developments. There is no guarantee that forward-looking information is entirely accurate, and actual results and future events may differ significantly from those anticipated in such statements. Therefore, readers should not rely excessively on forward-looking information. For further information regarding these and other risks and uncertainties that may affect the company's business and liquidity, please refer to the sections “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations” in the documents submitted by the company to SEC. These documents can be found at www.sec.gov and are also available on the website of the Canadian securities regulatory authority at www.sedarplus.ca. Except as required by law, the company explicitly disclaims any obligation to update the forward-looking information contained in this document.