Perpetua Resources Partners with the Idaho National Laboratory to Advance Critical Mineral Pilot Plant

Rhea-AI Summary

Perpetua Resources (Nasdaq: PPTA) entered an agreement with Idaho National Laboratory (via Battelle) to host, commission, and operate a modular pilot processing plant to recover critical and defense-related minerals, including antimony, from material from Perpetua's Stibnite Gold Project.

The pilot aims to demonstrate production of military-spec antimony trisulfide, advance domestic defense mineral processing, and expand workforce training in Idaho. Perpetua has received $6.9M additional DOTC funding, bringing total DOTC awards to $22.4M, and expects to supply up to 35% of U.S. antimony demand during its first six years of operations.

Positive

• DOTC funding increased by $6.9M, total $22.4M
• Pilot plant to produce military-spec antimony trisulfide
• Perpetua expects to supply up to 35% of U.S. antimony demand (first six years)
• Pilot hosted and operated by INL/Battelle using modular containers
• Initiative advances domestic processing and workforce training in Idaho

Negative

• None.

Key Figures

Additional DOTC funding $6.9 million Awarded in May 2025 under Defense Ordnance Technology Consortium

Total DOTC awards $22.4 million Cumulative U.S. Army-related funding for critical minerals work

U.S. antimony demand share 35% Expected share of U.S. antimony demand in first six years of operations

Initial operations period 6 years Period in which Project expects to supply up to 35% of U.S. demand

Market Reality Check

$25.26 Last Close

Volume Volume 1,430,425 is below the 20-day average of 2,559,001, suggesting muted pre-news positioning. low

Technical Shares at $25.26 are trading above the 200-day MA of $16.59, reflecting a pre-existing uptrend into this partnership news.

Peers on Argus

PPTA fell 2.55% while peers were mixed: MUX down 3.25%, ITRG down 2.67%, SLSR slightly down, ASM up 1.27%. No clear sector-wide move, pointing to stock-specific trading.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 05	Leadership changes	Positive	+0.7%	Strengthened senior team as Early Works construction at Stibnite progresses.
Nov 18	Project approval & funding	Positive	+3.0%	Conditional USFS Notice to Proceed and <b>$80 million</b> DoD funding for antimony.
Nov 17	Quarterly update & financing	Positive	+4.8%	Q3 update with multiple financings, groundbreaking, and EXIM <b>$2.0 billion</b> term sheet.
Oct 28	Offering pricing	Neutral	+2.2%	Pricing of <b>$71.2 million</b> share offering plus <b>$7.0 million</b> private placement.
Oct 28	Equity offering launch	Neutral	+2.2%	Announcement of <b>$70 million</b> offering to fund Stibnite and related uses.

Pattern Detected

Recent news around Stibnite financing, approvals, and offerings has consistently been followed by positive 24-hour price reactions, suggesting investors have rewarded de-risking and funding milestones.

Recent Company History

Over the last few months, Perpetua has steadily advanced the Stibnite Gold Project, securing major financings and regulatory milestones. Highlights include a $255 million strategic equity investment, public offerings raising over $70 million, and U.S. government support such as $80 million in Department of Defense funding and a conditional U.S. Forest Service Notice to Proceed. Leadership additions and commencement of Early Works in October 2025 reinforced execution. Today’s INL pilot-plant partnership extends this theme of building out an integrated, defense-focused antimony and gold platform.

Market Pulse Summary

This announcement extends Perpetua’s strategy of integrating the Stibnite Gold Project into U.S. defense supply chains by pairing its antimony resource with Idaho National Laboratory’s processing expertise. It builds on prior U.S. Army and DOTC support totaling $22.4 million and the expectation of supplying up to 35% of U.S. antimony demand in the first six years. Investors may watch future pilot-plant results, additional government agreements, and project execution milestones to gauge how this partnership translates into long-term value.

Key Terms

antimony trisulfide technical

"feasibility of producing high-quality, military specification antimony trisulfide using material"

Antimony trisulfide is a chemical compound made from the metal antimony combined with sulfur; think of it as a stable material created by mixing two basic elements. It is used in products ranging from flame retardants and pigments to certain electronic and ammunition components, so changes in its supply, regulation, or production costs can affect manufacturers, miners and downstream businesses — making it a commodity of interest to investors tracking raw-material risk and price swings.

critical minerals technical

"secure domestic sources of critical minerals"

Materials needed to build modern technologies—like batteries, electronics, renewable energy systems and defense equipment—that have few easy substitutes and often come from a small number of countries or mines. Investors care because their supply can be disrupted, expensive or slow to increase, which affects the cost, availability and growth prospects of companies and industries that rely on them; think of them as critical spare parts for the global economy.

AI-generated analysis. Not financial advice.

BOISE, Idaho, Dec. 9, 2025 /PRNewswire/ - Perpetua Resources Corp. (Nasdaq: PPTA) (TSX: PPTA) ("Perpetua Resources" or "Perpetua" or the "Company") today announced that it has entered an agreement with the Idaho National Laboratory ("INL") via Battelle Energy Alliance LLC ("Battelle") for the INL to host, commission, and operate a flexible, modular pilot processing plant expected to be capable of recovering various critical and defense-related minerals, including antimony from the Company's ores. This initiative is intended to demonstrate the feasibility of producing high-quality, military specification antimony trisulfide using material from Perpetua's Stibnite Gold Project ("Project"). In addition, it will provide opportunities to advance domestic defense mineral processing capabilities and strengthen workforce training in Idaho.

"We are proud to collaborate with Idaho National Laboratory to further strengthen America's defense capabilities and help secure a domestic source of antimony trisulfide," said Jon Cherry, President and CEO of Perpetua Resources. "This partnership highlights Idaho's role in national security and demonstrates our ongoing commitment to responsible resource development, job creation, and workforce training in Idaho. The successful demonstration of this plant will contribute to sustained growth in American mineral independence and resilience."

Locating the pilot plant at INL leverages the lab's critical and strategic materials and defense programs. Trained operators and specialized staff members will commission and operate the plant, which will consist of several modular containers with the necessary equipment to conduct pilot-scale testing. Once installed, the pilot plant will receive samples of material from the Stibnite Gold Project and operators will conduct pilot-scale testing to produce antimony trisulfide concentrate needed for munitions and advanced systems used by U.S. military personnel.

This pilot plant initiative is part of a broader partnership between Perpetua Resources and the U.S. Army via the Defense Ordnance Technology Consortium ("DOTC") to secure domestic sources of critical minerals. In May 2025, Perpetua was awarded up to $6.9 million in additional DOTC funding, bringing the Company's total DOTC awards up to $22.4 million. This extended award combines Perpetua's Idaho-based antimony resource with INL's world-class scientific research capabilities to support the U.S. Army's objective of establishing a fully domestic "ground-to-round" antimony trisulfide supply chain.

"This partnership brings together Perpetua's antimony resources with INL's expertise in materials processing to address a critical national security need," said John Wagner, INL Director. "Establishing domestic production capabilities for antimony trisulfide essential for munitions and defense systems strengthens America's supply chain resilience while advancing Idaho's leadership in critical minerals and workforce development."

Critical materials research at INL concentrates on the components essential for energy and national security. INL has expansive expertise, including cutting-edge research areas like mineral characterization, geochemical modeling, and material separation.

U.S. House Representative Mike Simpson (R-Idaho) applauded today's announcement, stating, "As a longtime supporter of the Idaho National Laboratory and Perpetua Resources' efforts in domestic antimony production, I am thrilled to see this partnership come together. Idaho has the potential to provide our country with a domestic source of critical minerals that are essential to our national security needs. This partnership is a win for Idaho, and I am pleased to see our great state once again play such a pivotal role on the world stage."

The Stibnite Gold Project is the only identified reserve of antimony in America. The Company expects to supply up to 35 percent of U.S. antimony demand during its first six years of operations while meeting long-term Department of War antimony needs. In addition to providing for American national security, the Project will create hundreds of family-wage jobs, restore fish access to critical spawning habitat, address legacy environmental degradation, and improve water quality at an historical abandoned mine site.

About Perpetua Resources and the Stibnite Gold Project

Perpetua Resources Corp., through its wholly owned subsidiaries, is focused on the exploration, site restoration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite Gold Project. The Stibnite Gold Project is one of the highest-grade, open pit gold deposits in the United States and is designed to apply a modern, responsible mining approach to restore an abandoned mine site and produce both gold and the only identified reserve of antimony in the United States. Antimony trisulfide from Stibnite is the only known domestic reserve of antimony that can meet U.S. defense needs for many small arms, munitions, and missile types.

About Idaho National Laboratory

INL is the nation's center for nuclear energy research and development, also focusing on strategic national security technologies, critical minerals, energy, and workforce development to sustain American competitiveness and security. Perpetua's agreement with INL is through Battelle Energy Alliance, which manages INL for the Department of Energy.

About the Department of Defense Ordnance Technology Consortium

The DOTC serves as the focal point for armaments system technology research and development. The industrial and academic component of DOTC is the National Armaments Consortium ("NAC"), which consists of over 1,000 companies.

DOTC's mission, in partnership with NAC, is to enhance our warfighters' lethality, survivability and combat effectiveness by facilitating the industrial and academic research, development and technology demonstrations needed to advance and expand our military technological superiority. DOTC is sponsored by the Office of the Secretary of Defense and is utilized by all Services and Defense Agencies to design, develop and demonstrate prototypes for armaments. NAC is the largest collaborative organization working with the DoD to develop armament technologies in support of our nation's security.

The NAC is comprised of our nation's leading technologists, engineers, designers, scientists, manufacturers, and program managers across industry, academia and our nation's laboratories, all with the mission to develop armaments that give the U.S. a technological edge over our enemies. Together, DOTC offers government customers a better way of doing business through streamlined acquisition and collaboration across a broad spectrum of industrial and academic partners.

For more information, visit www.perpetuaresources.com.

FORWARD-LOOKING STATEMENTS

Statements contained in this news release 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 United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, the anticipated benefits from the partnership with INL; the timing and results of future material sampling conducted by the Company and adjustments to the modular pilot plant design and construction; expected commercial demand for antimony and the Company's ability to supply it; our ability to successfully implement and fund the Project; and the occurrence of the expected benefits from the Project, including creation of jobs, environmental benefits and providing a domestic source of antimony and national defense benefits. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", "expect", "plan", "likely", "believe", "intend", "forecast", "project", "estimate", "potential", "could", "may", "will", "would" or "should". In preparing the Forward-Looking Information in this news release, Perpetua Resources has applied several material assumptions, including, but not limited to, that the current financing, exploration, development, environmental and other objectives concerning the Project can be achieved and that its other corporate activities will proceed as expected; and that general business and economic conditions will not change in a materially adverse manner and that construction and operations costs will not materially increase. Forward-Looking Information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Perpetua Resources to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among other things, risks related to unforeseen delays in the review and permitting process, including as a result of legal challenges to the ROD or other permits; risks related to opposition to the Project; risks related to increased or unexpected costs in operations or the permitting process; risks that necessary financing will be unavailable when needed on acceptable terms, or at all, as well as those factors discussed in Perpetua Resources' public filings with the U.S. Securities and Exchange Commission (the "SEC") and its Canadian disclosure record. Although Perpetua Resources has attempted to identify important factors that could affect Perpetua Resources and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company's business, see the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's filings with the U.S. Securities and Exchange Commission (the "SEC"), which are available at www.sec.gov and with the Canadian securities regulators, which are available at www.sedarplus.ca. Except as required by law, Perpetua Resources does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

View original content:https://www.prnewswire.com/news-releases/perpetua-resources-partners-with-the-idaho-national-laboratory-to-advance-critical-mineral-pilot-plant-302636487.html

SOURCE Perpetua Resources Corp.

FAQ

What did Perpetua announce about a pilot plant with Idaho National Laboratory (PPTA) on Dec 9, 2025?

Perpetua announced an agreement with INL (via Battelle) to host, commission, and operate a modular pilot plant to recover critical minerals including antimony from Stibnite material.

How much DOTC funding has Perpetua (PPTA) received for the antimony project?

Perpetua received an additional $6.9M in DOTC funding, bringing total DOTC awards to $22.4M.

What product will the INL pilot plant aim to produce from Perpetua's ores (PPTA)?

The pilot aims to produce military-spec antimony trisulfide concentrate for munitions and advanced defense systems.

What share of U.S. antimony demand does Perpetua (PPTA) expect to supply and when?

The company expects to supply up to 35% of U.S. antimony demand during its first six years of operations.

Who will operate the modular pilot plant for Perpetua (PPTA) at INL?

Trained operators and specialized staff at INL, under Battelle Energy Alliance, will commission and operate the modular pilot plant.

What broader objective does the Perpetua–INL pilot plant support for U.S. defense (PPTA)?

The initiative supports establishing a domestic "ground-to-round" antimony trisulfide supply chain and strengthening U.S. supply chain resilience.