Mr. Stephen de Jong reports

INTEGRA GOLD FILES PEA TECHNICAL REPORT ON SEDAR

Integra Gold Corp. has filed on SEDAR the National Instrument 43-101 technical report for the preliminary economic assessment disclosed in the company's news release dated Jan. 13, 2015, for its Lamaque gold project in Val d'Or, Que., Canada. The PEA was prepared by InnovExplo Inc. with technical contributions from Amec Foster Wheeler Environment and Infrastructure, Geologica Groupe-Conseil Inc., Geopointcom Inc., Micon International Ltd., and WSP Canada Inc.

The report is available under the company's profile on SEDAR and on the company's website.

PEA highlights:

• Base-case pretax IRR (internal rate of return) of 77 per cent and NPV (net present value; 5-per-cent discount rate) of $184.3-million (after-tax IRR of 59 per cent and NPV of $113.5-million);
• Preproduction capital requirements reduced by $7.3-million from $69.2-million to $61.9-million;
• Preproduction period reduced from 24 months to 18 months as a result of existing infrastructure and permits from the acquisition of the Sigma/Lamaque mill and mine complex, and the optimized mine plan for the North zone;
• Life-of-mine cash cost of $551 per ounce and all-in sustaining costs of $731 per ounce;
• Updated preliminary economic assessment uses the same mineral resource estimate as the previous PEA, and does not incorporate drilling completed since April, 2013, or any of the Sigma/Lamaque mineral resources obtained in the acquisition noted below.

Changes from previous PEA -- incorporation of mill acquisition

The PEA represents an update of the company's previous PEA (March 11, 2014), which incorporates the impact of the company's acquisition of the neighbouring Sigma/Lamaque mill and mine complex. The primary areas impacted with this acquisition are:

• Reduced operating cost from a $665 cash cost per ounce to $551 per ounce (17-per-cent reduction), primarily as a result of lower milling costs, as the company is no longer contemplating toll or custom milling its material at third party facilities;
• Reduced preproduction capital expenditures by $7.3-million from $69.2-million to $61.9-million, primarily as a result of utilizing existing surface and underground infrastructure to access the Parallel zone, thereby eliminating the need for a stand-alone decline or ramp, and associated surface infrastructure. Capital expenditure savings are partially offset by the capital required to refurbish the Sigma mill;
• Increased gold recoveries by 1 per cent at all of the mineralized zones as a result of longer leaching time for planned production based on actual capacity and the flow sheet of the Sigma mill compared with previous toll milling assumptions;
• Reduced preproduction period from 24 months to 18 months, primarily through the use of existing surface and underground infrastructures, allowing the company to reach the Parallel zone in a shorter time frame;
• Potential for earlier development start date as a result of the significant provincial and federal permitting hurdles overcome with the acquisition of the Sigma/Lamaque mill and mine complex. A federal environmental assessment report, also known as an environmental impact study, was avoided. Amendments to the existing provincial permits in place at the Sigma/Lamaque mill and mine complex will be sufficient to authorize the production activities in the North zone (Parallel and Fortune zones), which simplifies the permitting process. Approximately 80 per cent of the company's Lamaque project (including the Parallel and Fortune zones) and 100 per cent of the land recently acquired are mining leases, not exploration claims, and therefore do not need to be converted into leases.

The updated PEA uses the same mineral resource estimate as the previous PEA and does not incorporate the updated resource estimate announced by the company on Feb. 10, 2015. The increase in recovered ounces in the updated PEA is a result of improved recoveries at the Sigma mill in comparison with the previously assumed toll milling scenario.

Sigma-Lamaque resources

When the company acquired the Sigma/Lamaque mill and mine complex, it acquired all of the mineral resources contained within the associated property, none of which has been included as part of the mine plan in the PEA. Upon completion of the acquisition in October, 2014, the company commissioned Micon to conduct a review of the mineral resources in order to qualify them as acceptable by NI 43-101 standards and guidelines. The most recent mineral resource audit was completed on the project in June, 2011, by Micon (the August, 2011, report is available on SEDAR under the Century Mining profile), with a subsequent review completed in 2014. The reviewed resource estimates included the following zones on Sigma-Lamaque: Lamaque No. 2 mine, North wall shears, North wall dikes, Sigma polygons, Lamaque Main mine and Cross-Over zone. Micon has not recalculated the cut-off grade used in reporting the resource since that time. Nevertheless, Micon considers the 2011 estimate to be valid and representative of the resource present at the Sigma-Lamaque project. Most of the mineralized material (approximately 250,500 tonnes) that was mined by Century Mining Corp. subsequent to the 2011 mineral resource estimate was from areas not contained within that estimate. Only 27,300 tonnes were mined from the resource blocks in the North wall shear (Sigma) and North wall dike (Sigma). Further details about the resource estimate have been included in the PEA technical report filed on SEDAR today.

PEA disclaimer

The PEA is preliminary in nature, and it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is no certainty that the PEA will be realized.

Qualified persons

The Lamaque project is under the direct supervision of Herve Thiboutot, Eng, senior vice-president of the company, and Francois Chabot, Eng, operations and engineering manager of the company. Both Mr. Thiboutot and Mr. Chabot are qualified persons as defined by National Instrument 43-101.

Quality assurance/quality control

Thorough QA/QC protocols are followed on the Lamaque project, including insertion of duplicate, blank and standard samples in all drill holes. The core samples are submitted directly to ALS Laboratory Group and Bourlamaque Labs in Val d'Or for preparation and analysis. Analysis is conducted on one-assay-tonne aliquots. Analysis of gold is performed using fire assay method with atomic absorption finish, with a gravimetric finish completed for samples exceeding five grams per tonne Au or a metallic sieve assay for samples containing visible gold. When available, the gravimetric or metallic sieve assay results are used for the reported composite intervals.

Further information about the mineral resource estimate and PEA cited in this news release will be available in an NI 43-101-compliant technical report for the project, including data verification discussions, to be filed on SEDAR within 45 days following this news release.

We seek Safe Harbor.