Perpetua Resources Corp. filed a Form 8-K on October 26, 2026, disclosing an amendment extending the expiry of outstanding warrants covering 1,607,802 common shares and announcing a U.S. Army-backed tungsten feasibility agreement with a total estimated cost of up to approximately $85 million.

Key Highlights

  • Warrant extension: Warrants exercisable for an aggregate of 1,607,802 common shares, at exercise prices of US$31.46 and US$38.93 per share, were amended to extend their expiry dates by up to six months from each applicable existing expiry date.
  • Original expiry dates: The Warrants were originally set to expire on October 28, 2026, December 1, 2026, and December 23, 2026, respectively.
  • Tungsten OTIA signed: Subsidiary Perpetua Resources Idaho, Inc. entered into an Ordnance Technology Initiative Agreement through the U.S. Army's Defense Ordnance Technology Consortium on October 26, 2026.
  • Total program cost: The initiative provides for a total estimated cost and cost-share of up to approximately $85 million and $45 million, respectively, over a period of performance extending through October 19, 2029.
  • U.S. Army contribution: PRII will match the U.S. Army's $40 million contribution in the joint investment.
  • Initial phase: The first 18-month phase is expected to cost approximately $18 million, shared equally between PRII and the U.S. Army.
  • Exemption relied upon: The warrant amendment was entered into in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as a transaction by an issuer not involving a public offering.

Perpetua Resources Amends Warrants and Enters U.S. Army Tungsten Agreement

According to the filing, Perpetua Resources Corp. (NASDAQ:PPTA) disclosed two significant events on October 26, 2026. First, the company amended outstanding warrants exercisable for an aggregate of 1,607,802 common shares at exercise prices of US$31.46 per share and US$38.93 per share. The amendment extends the expiry date of each warrant by up to six months from its applicable existing expiry date. The company stated that all other terms, conditions, and rights of the Warrants remain in full force and effect, as originally described in the Annual Report on Form 10-K filed on March 31, 2026.

The filing also disclosed that subsidiary Perpetua Resources Idaho, Inc. entered into the Tungsten OTIA with the U.S. Army's Defense Ordnance Technology Consortium, administered through the Portfolio Acquisition Executive Agile Sustainment and Ammunition at Picatinny Arsenal, New Jersey. According to the filing, the agreement is intended to fund a program to evaluate the technical and economic feasibility of producing tungsten concentrate at the historical Stibnite Mining District. The program is structured as a cost-share arrangement, with a total estimated cost of up to approximately $85 million and a cost-share of up to approximately $45 million over the period of performance extending through October 19, 2029.

The filing states that the funding is intended to support drilling to define a potential tungsten mineral resource, collection of material for laboratory and bench-scale metallurgical testing, and permitting and engineering of an exploration decline. The initial 18-month phase is expected to cost approximately $18 million, shared equally between PRII and the U.S. Army. The company disclosed that "the timing, scope and cost of subsequent phases are subject to ongoing development based on results of prior exploration, testing, engineering and permitting activities, as well as approval of each incremental phase of additional funding." The filing's forward-looking statements are the company's own and subject to its cautionary language.

What Was Disclosed

Perpetua Resources Corp. disclosed in this Form 8-K an amendment extending expiry dates on warrants for 1,607,802 common shares and a new U.S. Army-backed tungsten feasibility agreement with a total estimated cost of up to approximately $85 million through October 19, 2029.