Perpetua Resources Wins Up to $40 Million U.S. Army Contract to Build Domestic Tungsten Supply

Perpetua Resources Corp. has been awarded up to $40 million in U.S. Army funding to advance domestic tungsten exploration and supply for American defense needs, the company announced on October 26, 2026. The contract targets tungsten development at the company's Stibnite Gold Project in central Idaho, a site with a history of wartime tungsten and antimony production dating to World War II.

Alongside the Army award, Perpetua also entered a separate tungsten exploration agreement and extended the expiry of outstanding warrants. The company had 1,351,136 warrants priced at $31.46 per share that were set to expire October 28, 2026, part of a series of October private placement tranches that also included warrants at $34.95 and $38.45 per share.

The Army funding follows a broader U.S. government push to secure domestic critical mineral supply chains, with tungsten identified as a key defense material. Perpetua has been an active partner in that effort, having already launched an antimony trisulfide pilot plant at Idaho National Laboratory with the U.S. Army, and having submitted tungsten exploration funding proposals to federal agencies earlier in 2026 after confirming new gold-tungsten intercepts at Stibnite.