Perpetua Resources Awarded Up to $40 Million in U.S. Army Funding to Advance Domestic Tungsten Supply for American Defense
PR Newswire•26/10/2026•17:45 ET
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Key Highlights
- ➤$40 million U.S. Army award funds 36-month tungsten feasibility program at Stibnite
- ➤Perpetua will match the Army’s $40 million contribution in the joint investment
- ➤Initial 18-month phase costs approximately $18 million, shared equally with the Army
- ➤Stibnite drilling returned up to 4.6% tungsten and 10.6% antimony grades
- ➤Outstanding warrants covering 1,607,802 shares extended to April 28, 2027
Expert Statements
Jon Cherry, President & CEO of Perpetua Resources
“Resilient mineral solutions start here in America”
Jon Cherry, President & CEO of Perpetua Resources
“The U.S. Army's additional investment in a historically proven American tungsten source at Stibnite underscores the growing strategic value of Stibnite's mineral endowment and continues to strengthen the partnerships supporting Perpetua's future.”
Jon Cherry, President & CEO of Perpetua Resources
“Historical production and recent exploration results suggest Stibnite has the potential to be one of the world's highest-grade tungsten sources.”
Perpetua Resources Awarded Up to $40 Million in U.S. Army Funding to Advance Domestic Tungsten Supply for American Defense PR Newswire
Agreement through Defense Ordnance Technology Consortium for Tungsten Exploration Adds Second Critical Mineral Pillar for Perpetua Resources
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