Hello, and welcome to the annual general meeting of shareholders of Perpetua Resources Corp. Please note that today's meeting is being recorded. If you participate in today's meeting and disclose personal information, you will be deemed to consent to the recording, transfer, and use of same. If you disclose personal information of another person in today's meeting, you will be deemed to represent and warrant to Broadridge and the corporation that you first obtained all required consents for the disclosure, recording, transfer, and use of such personal information from all appropriate persons before your disclosure. During the meeting, we'll have a question-and-answer session. You can submit relevant questions at any time by typing them in the message section on the bottom left of your screen. It is now my pleasure to turn today's meeting over to Jon Cherry. The floor is yours. Thank you. Welcome, ladies and gentlemen, to the Perpetua Resources Corp annual general meeting of shareholders. My name is Jon Cherry, and I'm the President and Chief Executive Officer. With me on the call are Mark Murchison, our Chief Financial Officer, and Lisa Thompson, our Corporate Secretary. Following the meeting today, I will provide an update on the company. You can ask questions relevant to the purpose of the annual meeting and cast your vote using the functionality at the bottom of your screen. As with any technology, unexpected glitches may occur, but our service providers for this platform at Broadridge are very experienced at running this type of meeting and will be helping us out as needed. I will now call the meeting to order. I will act as chairman of this meeting, and I have asked Lisa Thompson, Corporate Secretary of the company, to act as secretary of this meeting, and Estella Richard of Broadridge to act as our scrutineer. Would the secretary please advise as to the notices relative to the meeting? I have a copy of the advance notice of meeting and record date filed on SEDAR on March 13, 2026, the notice of meeting and proof as to it being mailed on or about April 24, 2026 to all shareholders, as well as the definitive proxy statement and instrument of proxy relating to the meeting and proof as to them being mailed to shareholders on or about April 29, 2026. These documents are available for any shareholder to read, and I now ask the chairman to table these documents. I will now table a copy of the Advance Notice, notice, definitive proxy statement, instrument of proxy, and the proof of mailing, and direct that they be kept by the secretary with the records of this meeting. Registered shareholders and proxy holders may address the meeting when there is a call to discuss a motion before the meeting. Should you like to address the chair on any motion, please type in your question in the message section on the bottom left of your screen. If there is any discussion or question, the secretary will read the question aloud. I will now ask the secretary to read the scrutineer's report. The scrutineer's preliminary report has been received. It shows that there are a total of 15 registered shareholders that have voted, representing 42,111,442 shares. 11,542 beneficial shareholders have been voted, representing 58,412,040 shares. Therefore, a total of 11,557 shareholders holding 100,523,482 shares that have voted prior to the meeting. This represents approximately 80.35% of the issued and outstanding share capital of Perpetua Resources Corp, which was 125,093,670 common shares on the record date. A quorum for the transaction of business at a meeting of shareholders is two shareholders present in person, virtually registered and logged into Broadridge, or represented by proxy, representing at least 33 and 1/3% of the shares entitled to be voted. The report of the scrutineer indicates that a quorum is present. As notice has been given in the proper manner, I declare this meeting regularly and duly called and constituted for the transaction of business. Only shareholders as of the record date of April 8th, 2026 are entitled to vote at this meeting. We will conduct the votes on the matters before us by poll. On a poll, every shareholder entitled to vote on the matter has one vote in respect of each share entitled to be voted on the matter and held by that shareholder. For today's meeting, only registered shareholders who have not voted will need to vote via the polling system. Any registered shareholder who has submitted their proxy will already have voted will have their vote included in the proxy count. We'll be concluding on the motions at the end of the meeting once we have been through all of the agenda items. Voting polls on the agenda items for today's meeting will be closed together at the end of the formal proceedings of this meeting. The first item of business is a presentation of the financial statements of the company and the report of the auditor thereon for the financial year ended December 31, 2025. Financial statements, auditor's report, and related management discussion and analysis were filed on SEDAR and with U.S. Securities and Exchange Commission through our annual report on Form 10-K on March 31, 2026 and were mailed to those shareholders who had previously requested to receive financial statements pursuant to the National Instrument 51-102. Additional copies of the financial statements are available through the secretary and online at www.sedarplus.ca or at www.sec.gov. Unless someone specifically requests, the auditor's report will not be read. Unless there is any discussion regarding the financial statements and auditor's report, I shall consider them received by the shareholders as submitted to the meeting. There is no discussion at this time. The first item of business is fixing the number of directors at nine. I move that the number of directors be fixed at nine. Is there any discussion on the motion? There is no discussion at this time. As there is no discussion, I now call for a vote on the motion before the meeting. Would all shareholders please enter your votes in Broadridge. We will now proceed with the election of directors of the company. The proxy statement contains the names of management's nominees to the Board of Directors, and those nominees are Marcelo Kim, Chris Robison, Alex Sternhell, Bob Dean, Andrew Cole, Rich Haddock, Laura Dove, Jeffrey Malmen, and myself, Jon Cherry. Each of the nominees is either present at the meeting or has previously consented to act as a director of the company. In order to be eligible for election as a director of the company at this meeting, a person must be nominated in accordance with the procedure set forth in the company's Advance Notice Policy, which was adopted by the Board of Directors of the company and became effective on April 4th, 2013. It was ratified by shareholders at the company's 2013 annual general meeting, or in accordance with U.S. proxy rules. Other than in respect to management's nominees named in the proxy statement for this meeting, no person has followed the procedures set out in the company's Advance Notice Policy or the U.S. proxy rules, which are required in order to entitle a person to nominate directors at this meeting. Accordingly, no further nominations will be accepted. The Majority Voting Policy of the company previously adopted by the Board of Directors requires that in an uncontested election of directors, any nominee in respect of whom a greater number of votes withheld than votes for are validly cast will immediately tender his or her resignation to the Board of Directors of the company. Should that occur, the board's decision to accept or reject the resignation will be disclosed to the public following the meeting. As the nominations are closed, I move that the persons nominated in the proxy statement be elected as directors of Perpetua Resources Corp. Is there any discussion on the motion? There is no discussion at this time. As there is no discussion, I now call for a vote of the motion before the meeting. Would all shareholders please enter your votes in Broadridge. The next item of business is the approval of the company's 2026 equity incentive plan. I move that the approval to amend and restate the company's current omnibus equity incentive plan be renamed the 2026 equity incentive plan as the date of the company's proxy statement to be approved. Is there any discussion on the motion? There is no discussion at this time. As there is no discussion, I now call for a vote of the motion before the meeting. Would all shareholders please enter your votes in Broadridge. The next item of business is the ratification of the appointment of the auditor at a remuneration to be set by the directors, and I move that the appointment of PricewaterhouseCoopers LLP as the company's independent auditor for the fiscal year ending December 31, 2026, at a remuneration to be set by the directors, be ratified. Is there any discussion on the motion? There is no discussion at this time. As there is no discussion, I now call for a vote on the motion before the meeting. Would all shareholders please enter your vote in Broadridge. If you have not already voted, please complete the electronic ballot on Broadridge. We will give you one more minute. The polls are now closed. The scrutineer has provided their preliminary report of the results of voting at today's meeting. I am advised by the scrutineer that greater than the requisite majority of the votes cast have been voted in favor of all resolutions, and I therefore declare that all motions are carried and all resolutions adopted. Ladies and gentlemen, that concludes the business brought before the meeting. On behalf of Perpetua Resources Corp., I wish to thank you for attending, and if there are no objections, I shall declare the meeting terminated. I will now provide an update on Perpetua Resources and its activities. Mark, could you please pick up with slides one through four, please? Check that, Mark. Ready to go here. Apologies. Perpetua's well-positioned for the next phase of growth as we advance development of our 100% owned Stibnite Gold Project located in central Idaho. When I joined the company just over two years ago in March 2024, we were still in the permitting phase of the project, having yet to receive a final record of decision and most of the ancillary permits required to begin construction. We had approximately $8 million in cash on hand, and our share price was $4 per share, and our market capitalization was about $250 million. Today, I'm pleased to report that we have a world-class gold antimony project in the early stages of construction. With $670 million in cash on hand as of Q1 2026, an approval of a $2.9 billion loan from the U.S. Export-Import Bank, we are expected to be fully financed based on estimated capital costs as described in our December 31, 2025 technical report summary for the construction of the Stibnite Gold Project. Our vision remains to develop one of the highest grade open-pit gold projects in the United States, produce a critical mineral, and restore an abandoned brownfield site. Before moving on, please note that the disclaimers on the next slides and additional information contained at the end of this presentation regarding regulatory information and non-GAAP measures. Particularly slide two is our forward-looking statement and slide three is our cautionary note. Starting with slide four. We broke ground and began early works construction activities at our project in October of 2025. With over 4.8 million ounces of gold reserves, 1.5 million ounces of M&I resources, and 1.6 million ounces in inferred, this is a significant project with the economics of the project driven by gold. With 149 million pounds of antimony reserves, we also have the only antimony reserve in the United States, and antimony remains a strategic byproduct vital to our national security. Antimony is used in hundreds of munitions that our military needs and Stibnite offers the only near-term domestically mined solution to support our nation. Tungsten, another critical mineral, is also part of the Stibnite Gold Project storied history. Based on past production and drill data, we believe exploration potential for tungsten at our project is high, along with additional gold and antimony mineralization. Idaho is a premier mining jurisdiction with excellent infrastructure and a talented workforce, and we have strong community support. The brownfield nature of our site presents an opportunity to use modern mining and restoration methods to improve site conditions with environmental restoration integrated into our plan of operations. We have a supportive shareholder base and are covered by leading metals and mining brokers. Our largest shareholder, Paulson & Co, has been invested since 2016. In October of 2025, we secured key strategic investments from Agnico Eagle and JPMorgan Chase, who collectively invested over a quarter billion dollars into Perpetua. The rest of our shareholder base is rounded out by ETFs, large global institutional funds, family offices, and retail. Our balance sheet remains very clean, with last reported cash on hand of approximately $670 million. Idaho is a premier mining jurisdiction. We're proud to say that our Stibnite Gold Project is one of the best mining jurisdictions in the world, and we have strong communities and government support. The state has an extensive history of mining, and our Stibnite project is a brownfield site with a proven track record of gold and critical mineral production. In fact, during World War II and the Korean War, our project site supplied the U.S. military with approximately 90% of its antimony and 50% of its tungsten. We have the benefit of existing roads and grid power to site, but we will be upgrading both as part of our build. Idaho has some of the lowest cost power in the country due to plentiful clean hydropower. This is also the largest independent gold reserve. With 4.8 million ounces of reserves, the Stibnite Gold Project is the largest gold reserve in the United States in the lower 48 outside of the Barrick Newmont Nevada Gold Mines JV. As mentioned, we also have 149 million pounds of antimony in our reserves. Over the first six years of the project life, we will produce on average about 8,000 tons of antimony, which represents close to 17% of annual U.S. demand for the critical mineral based on 2025 consumption. Based on the historical production of and scheelite mineralization, our geologists also believe tungsten represents upside potential as we begin exploring the district again. This is the highest grade open-pit gold deposit. Grade is a primary driver of economics for mines and being the top makes our project truly world-class. During the first four years of operation, our open-pit gold grades will run at 2.2 grams per ton, which will be the highest grade open pit project in the U.S. outside of the Barrick Newmont JV. Life of mine, our average head grade of 1.4 grams per ton steps us down to the number 2 spot, which is still a great place to be. Following up on significant historical drilling conducted on-site, our exploration teams have identified significant targets for testing as part of our 2026 exploration program. Simply put, we're excited by the exploration opportunities at Stibnite. We're poised to be the largest independent U.S. gold producer. As published in our 2025 technical report summary, we are forecasting to produce about 300,000 gold ounces per year on average over the life of the mine, and more than 460,000 ounces per year in the first four years, which would make it the largest producing mine in the U.S. outside of Barrick and Newmont. As a reminder, this is based on existing reserves only and doesn't consider any of the 1.5 million ounces in measured and indicated, or 1.6 million ounces in the inferred categories. We also have the lowest all-in sustaining costs. The Stibnite Gold Project will be powered by one of the cheapest and lowest carbon emission grids in the nation, secured from Idaho Power. Together with the very low strip ratio and valuable antimony by-product, we are expected to be the lowest cost mine relative to all mines in the U.S., Canada, or Australia, with over 250,000 ounces of annual production. Our base case assumes $10 per pound antimony prices, which provides a $220 per ounce by-product credit over the life of the mine. During our first four years of operation, our all-in sustaining costs are projected to be $498 per ounce and average $833 per ounce during the life of the mine. Turning to antimony. For those unfamiliar, antimony is used in a variety of different industries, including the flame retardants, tech hardware for AI, automotive, and chemical industries. Perhaps most importantly, the U.S. military uses many different forms of antimony for munitions, defense systems, and explosives. Like rare earths, antimony supply and processing has been tightly controlled by China for now. We're proud to state that we own the only known reserve in the United States, now have a line of sight on production, which will help strengthen our nation's supply chains and industrial base. As a result, we have received over $80 million in combined Department of Defense awards since 2022. The Trump administration published a list of 10 priority projects in the U.S., including Stibnite, in connection with the March 2025 executive order aimed at strengthening domestic mineral production and reducing reliance on China for critical minerals. A whole of government approach is being applied to secure American antimony, reduce reliance on China, and promote American jobs. From the previous Department of Defense awards to a $2.9 billion debt package through the U.S. EXIM Bank, the government is using all available tools to bring antimony home. Tungsten is another critical mineral essential for military and industrial uses. During World War II, tungsten mined at Stibnite was crucial for the Allied war effort and the production of ammunition. Like antimony, tungsten production has largely been controlled, and recent export restrictions out of China has caused turbulent market pricing. Tungsten supply remains crucial for both domestic manufacturing and military applications. Exploration potential for tungsten remains high, and we look forward to demonstrating this with further drill results. On the exploration upside, in addition to the 4.8 million ounces of reserves, which is what our current mine plan is based on, it's worth highlighting that our total mineral endowment exceeds 7 million ounces. The NPV calculations from the technical report summary published earlier this year are solely based on the 4.8 million ounces of reserves. Now that we are in construction, we've embarked on an exploration drilling program focused on converting resources to reserves, finding higher grade sources of feed to supplement our base case mine plan, and testing our best prospects. Previously drilled holes demonstrate the exploration upside potential. If you take a look at some of the grades coming from targets like Scout, Garnet, and Upper Midnight, these are very exciting numbers, and we are excited about the future potential. Stibnite Gold Project financing. This slide highlights our comprehensive financing plan for the project, it includes up to $3.7 billion in capital. The first pillar of the strategy was executed with $527 million of new equity raised last year from a variety of institutional and other investors. We also secured an additional $300 million of strategic investments, including investments from Agnico Eagle, JP Morgan, and others. We were the first investment made by JP Morgan's $1.5 trillion strategic initiative. The next pillar is the U.S. EXIM debt financing. In May, we announced the approval of a $2.9 billion loan, which is expected to close later this year. We're gaining momentum and we have near term catalysts. 2025 was a transformational year for Perpetua, we have a number of catalysts on the horizon for 2026. In the near term, we anticipate continuing exploration within our permitted reserve footprint. As previously mentioned, we anticipate closing on the $2.9 billion EXIM loan later this year. For 2026, project development will continue to focus on construction of road and power line upgrades, as well as worker housing, which has already been commenced. These critical path items are planned to proceed in parallel with engineering, with the goal of effectively de-risking near term critical path items and allowing for increased design maturity leading up to full mobilization. Following the approximately three-year build after full sanction decision, we would then expect initial production in late 2029. Thank you for your continued support and investment in our project. This concludes the meeting. You may now disconnect.