Perpetua Resources Corp. announced that it entered into a Royalty Agreement with a wholly-owned subsidiary of Franco-Nevada Corporation (Franco-Nevada) pursuant to which Perpetua, through its subsidiaries, sold Franco-Nevada a royalty (royalty) on the future payable silver production from the Stibnite Gold Project in exchange for a cash payment of $8.5 million (the upfront payment). Highlights of the transaction: $8.5 million upfront cash payment to Perpetua upon closing of the transaction; Franco-Nevada will receive all of the payable silver by-product revenue over the life-of-mine, subject to the terms of the Agreement; Silver represents less than 0.3% of projected life-of-mine revenue in the 2020 Feasibility Study; The additional liquidity provided from the upfront payment complements the funding that the company has secured through the U.S. Department of Defense; Perpetua intends to use the proceeds for general corporate purposes.

Perpetua's proposed Stibnite Gold Project (the Project) is designed to re-establish a U.S. source of the critical mineral antimony as a by-product of one of the highest-grade open pit gold resources in the United States. The additional funding will allow the Company to continue advancing the construction readiness of the Stibnite Gold Project and support general corporate expenses related to the Project's progress through the National Environmental Policy Act (NEPA) review process, led by the United States Forest Service (USFS).