Perpetua Resources Corp. announced On December 29, 2023, Chris Papagianis notified the company of his resignation as a member of the board of directors (the ? Board?), effective January 1, 2024.

Mr. Papagianis? resignation from the Company was not due to any disagreement with the Company. Mr. Papagianis served as a Paulson nominee under the IRA.

On December 29, 2023, the Board approved the appointment of Andrew Cole as a director, effective January 1, 2024, to fill the vacancy created by the resignation of Mr. Papagianis. Mr. Cole will serve until the next annual meeting of the Company?s shareholders (or, if earlier, his resignation or other termination of service), at which time Mr. Cole will stand for election. Mr. Cole will continue to serve as a director following his election at the annual meeting of the Company?s shareholders until the earlier of his resignation, retirement or other termination of service.

Mr. Cole is expected to serve as a member of each of the Technical Committee and Compensation Committee of the Board. Mr. Cole was designated as a director nominee of Paulson & Co. Inc. (?

Paulson?) on behalf of the several investment funds and accounts managed by Paulson pursuant to that certain Amended and Restated Investor Rights Agreement dated March 17, 2020, between the Company and Paulson (as amended, the ? IRA?). Pursuant to the IRA, Paulson has, among other rights, the right to designate two nominees to the Board so long as Paulson owns 20% or more of the outstanding common shares of the Company and to designate a replacement for any Paulson designee that resigns or otherwise is unable or unwilling to serve as director.

Mr. Cole was nominated by Paulson to replace Mr. Papagianis as a Paulson nominee on the Board. Mr. Cole is not a party to any transaction, or series of transactions, required to be disclosed pursuant to Item 404(a) of Regulation S-K. Mr. Cole will be eligible to receive the same compensation for Board service as other non-employee members of the Board, which, for Mr. Cole, is expected to include the following: (i) a USD 22,080 annual cash retainer for serving on the Board, (ii) a USD 2,875 annual cash retainer for being a member of the Compensation Committee of the Board and (iii) a USD 2,875 annual cash retainer for being a member of the Technical Committee of the Board.