Mr. George Salamis reports

INTEGRA INCREASES SCOPE OF PRE-FEASIBILITY STUDY, AIMING AT LARGER PRODUCTION PROFILE AND INCREASED SILVER PRODUCTION AT DELAMAR, PRE-FEASIBILITY STUDY EXPECTED IN Q4 2021

Integra Resources Corp. has provided an update on the company's prefeasibility study (PFS), which is expected to be completed in Q4 2021. As previously reported, the company has been working on a series of trade-off studies to optimize both the heap leach and mill processing circuits. This work was aimed at incorporating a significant portion of the unoxidized resource from the DeLamar deposit which was excluded in the 2019 PEA and improving the silver recoveries.

The results of column leach tests completed on Florida Mountain oxide and transition material in Q2 have indicated that 0.5-inch crush provides the most economic feed size for the Florida Mountain heap leach circuit. While column leach testing has recently commenced on samples for DeLamar, the company sees scope to increase the heap leach circuit to between 32,000 and 35,000 tonnes per day (tpd) from the 27,000 tpd contemplated in the PEA.

In addition, extensive metallurgical testing of the DeLamar unoxidized material has demonstrated that a portion of this resource can be processed through a larger mill with a similar flowsheet to that used in the PEA. Consequently, the company is considering an 8,000-tonne-per-day to 10,000-tonne-per-day mill in the PFS as compared with the 2,000-tonne-per-day plan in the PEA. The potential increase in mill processing capacity, subject to continuing studies, is expected to result in a 50-per-cent, or greater, increase in gold and silver production profile than that considered in the 2019 PEA.

"In undertaking a prefeasibility study at DeLamar, Integra looked to increase the project's production profile relative to the already robust 2019 PEA," stated George Salamis, president and chief executive officer of Integra. "The company specifically set its sights on larger production profiles and greatly enhanced potential revenue streams from silver production, given the large untapped silver resource base that exists on the project, in addition to a large gold resource base. We view DeLamar as many projects in one due to the optionality in both mining and processing options at the project. The optionality and expansion capability of our project, a key factor in our decision to acquire DeLamar nearly four years ago, will become clear in the upcoming PFS study that we expect to deliver in Q4 of this year.

"It should be noted that the company does anticipate an increase in capex [capital expenditure] for the upcoming PFS; however, the expectations are that the increase in capex will be in line with the larger production profile presented. The increase in capex will be primarily driven by a larger production scenario to increase the annual production profile, as well increased costs of raw materials. Integra's commitment to responsible mining will also be prevalent in the PFS, including solutions to decrease carbon emissions through alternative transportation options for mineralized material and the use of renewable power for operation."

Lastly, Mr. Salamis stated: "It was a pleasure to recently meet with Idaho's governor, Brad Little, to update him and his staff on our ongoing studies at DeLamar. The governor's support of responsible mining development opportunities in Idaho is encouraging and welcomed."

Idaho support of mining

In August, the Integra board of directors had a technical meeting in Boise, Idaho, to discuss the PFS and exploration program. While in Boise, the company had the opportunity to meet with Mr. Little. During the meeting, Integra management discussed progress at the DeLamar project and the upcoming permitting process. Mr. Little expressed his support for the project moving forward, noting: "We're the gem state for a reason and there's never been a more exciting timing for Idaho to realize the potential of our diverse mineral resources. The building of responsible mines is a priority for the state, especially those with the potential to be strong contributors to their counties and communities."

Metallurgy

The company continues to complete extensive metallurgical testing on the DeLamar and Florida Mountain deposits, including oxide and transitional mineralization column leach tests for heap leaching and optimization test work on unoxidized material for the mill. Mill test work has covered a myriad of processing options, including flotation optimization, regrind and leach optimization, preaeration, cyanide detoxification, solid and liquid separation, comminution options, quick mineral scans, and high-pressure grinding rollers (HPGR) for crushing.

Regarding heap leach test work, all column leach tests for Florida Mountain are now complete, with the oxide composites complete and the final assays in process for the transitional composites. In general, the 0.5-inch heap leach feed appears to economically outperform both two inchs and 0.25 inch. DeLamar column leach composites are on line.

Economic contribution of silver

Due to the larger milling scenario contemplated in the PFS, the company expects to derive a larger percentage of economic contribution from an increase in silver ounces in the PFS. In the 2019 PEA, silver accounted for only 18 per cent of the total project forecasted economics. Since silver recoveries averaged 80 per cent for the Florida Mountain mill in the PEA versus 34 per cent on the heap leach pad, increased throughput at the mill focused on unoxidized material with higher silver content has the potential to significantly increase silver recoveries and silver derived revenues. These increased silver recoveries, in addition to gold, have the potential to positively impact the economics of the project and provide exposure to long-term silver prices.

Current drill status

The company currently has two drill rigs in operation, with one positioned at Florida Mountain and a second drill at War Eagle.

Sampling and quality assurance/quality control (QA/QC) procedure

Thorough QA/QC protocols are followed on the project, including insertion of duplicate, blank and standard samples in the assay stream for all drill holes. The samples are submitted directly to American Assay Labs in Reno, Nev., for preparation and analysis. Analysis of gold is performed using fire assay method with atomic absorption (AA) finish on a one-assay-ton aliquot. Gold results over five grams per tonne (g/t) are rerun using a gravimetric finish. Silver analysis is performed using ICP (inductively coupled plasma) for results up to 100 g/t on a five-acid digestion, with a fire assay, gravimetric finish for results over 100 g/t silver.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by E. Max Baker, PhD (FAusIMM), Integra's vice-president of exploration, and Timothy D. Arnold (PE, SME), Integra's chief operating officer, both of Reno, Nev. Each is a qualified person (QP) as defined in National Instrument 43- 101 (Standards of Disclosure for Mineral Projects).

About Integra Resources Corp.

Integra is a development-stage mining company focused on the exploration and derisking of the past-producing DeLamar gold-silver project in Idaho, United States. Integra is led by the management team from Integra Gold Corp. which successfully grew, developed and sold the Lamaque project, in Quebec, for $600-million in 2017. Since acquiring the DeLamar project, which includes the adjacent DeLamar and Florida Mountain gold and silver deposits, in late 2017, the company has demonstrated significant resource growth and conversion while providing a robust economic study in its maiden preliminary economic assessment. The company is currently focused on resource growth through brownfield and greenfield exploration and the delivery of a prefeasibility study in Q4 2021.

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