Sun Valley Gold LLC: Control and Direction Over Common Shares of Perpetua Resources Corp.

SUN VALLEY, Idaho, May 6, 2021 /CNW/ - Sun Valley Gold LLC ("Sun Valley") announced today that it is acquired control and direction over an aggregate of 4,040,000 common shares ("Common Shares") of Perpetua Resources Corp. ("Perpetua") on behalf of client accounts over which Sun Valley has discretionary trading authority. The Common Shares were issued pursuant to the conversion of 0.05% senior unsecured convertible notes (the "Notes") previously issued to such client accounts by a wholly-owned subsidiary of Perpetua.

Following the conversion of the Notes into Common Shares, Sun Valley exercises control and direction over an aggregate of 5,295,726 Common Shares, representing approximately 10.42% of the issued and outstanding Common Shares on an as-converted basis.

The securities of Perpetua were acquired for investment purposes. Sun Valley may, for and on behalf of its client accounts, convert the Notes or otherwise increase or decrease its ownership of securities of Perpetua depending upon future market conditions.

SOURCE Sun Valley Gold LLC

FOR FURTHER INFORMATION, OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED BY SUN VALLEY UNDER APPLICABLE SECURITIES LEGISLATION, PLEASE SEE THE CONTACT INFORMATION BELOW: Linda J. Kish, Chief Legal Officer, Sun Valley Gold LLC, Tel: [phone], Fax: [phone]