Mr. Jason Kosec reports

INTEGRA PROVIDES CORPORATE UPDATE

Integra Resources Corp. has provided an update on work programs and upcoming catalysts at its flagship assets located in the Great Basin, United States, as well a corporate update with respect to the proposed share consolidation. Integra is focused on achieving several key milestones in 2023, including an updated mineral resource estimate and the submission of the mine plan of operations (MPO) at the DeLamar project located in southwestern Idaho, as well as an updated mineral resource estimate and preliminary economic study (PEA) at the Wildcat and Mountain View projects, located in western Nevada.

The company is pleased to host a corporate update webinar on Tuesday, May 16, 2023, at 8 a.m. PT (11 a.m. ET). The webinar will feature a presentation from Jason Kosec, Integra's president, chief executive officer and director, as well as a live question-and-answer session. A recording of the webinar will be available on Integra's corporate website. Register for the webinar on-line.

Project update

DeLamar project:

• Integra recently completed a highly successful stockpile drilling program at DeLamar in April, 2023. The program consisted of 321 holes, totalling 12,588 metres. Results from 9,089 m, representing 247 drill holes, have yet to be released. The company will continue to release results from the stockpile drilling program as they are received from the lab:
  • Highlights from the drilling program include (refer to March, 2023, press releases, gold equivalent (AuEq) equals grams per tonne (g/t) gold (Au) plus g/t silver (Ag) divided by 77.7):
    • 76 m of 0.74 g/t AuEq (0.62 g/t Au and 9.54 g/t Ag);
    • 111 m of 0.59 AuEq (0.27 g/t Au and 24.6 g/t Ag);
    • 50 m of 0.67 g/t AuEq (0.34 g/t Au and 25.29 g/t Ag).
• Integra intends to release an updated mineral resource estimate for DeLamar in Q2 2023, incorporating results from the stockpile drilling program as well as additional drilling that was completed after the cut-off date for the previous mineral resource estimate.
• The company expects to submit the MPO for DeLamar to the United States Bureau of Land Management (BLM) in Q4 2023. The submission of the MPO represents a significant milestone in the National Environmental Policy Act (NEPA) permitting process. Additional commentary on Integra's permitting efforts and achievements at DeLamar is provided below.

Wildcat and Mountain View projects:

• The Wildcat and Mountain View projects, located in western Nevada, were acquired by Integra as part of the recently completed merger with Millennial Precious Metals Corp.
• The company is currently preparing an updated mineral resource estimate to incorporate Millennial's 2021 to 2022 drill program of 1,250 m at Wildcat and 7,200 m at Mountain View:
  • Given the positive resource conversion results seen by the company to date, it is expected that there will be significant conversion of resources from the inferred category to the indicated category in the upcoming resource estimate.
• Highlights from the 2021 to 2022 drilling program at Wildcat and Mountain View include (refer to 2022 Millennial press releases):
  • Wildcat: 39.2 m of 1.26 g/t oxide Au, 41.4 m of 0.93 g/t oxide Au and 120.2 m of 0.39 g/t oxide Au;
  • Mountain View: 185.5 m of 1.48 g/t oxide Au, 128.3 m of 1.73 g/t oxide Au and 232.5 m of 0.91 g/t oxide Au.
• Material from drilling at Wildcat and Mountain View was used for metallurgical testing, including 22 column leach tests and 186 bottle roll variability tests performed at McClelland Laboratories of Reno, Nev. All metallurgical testwork is now complete and results have met or exceeded the company's expectations.
• Final mining and engineering studies are under way to support the combined maiden PEA for Wildcat and Mountain View, expected to be released in late Q2 2023.
• Integra intends to initiate a resource expansion drill program at Wildcat in H2 2023 to test potential extensions of the oxide resource and demonstrate growth potential in previously unexplored areas surrounding the proposed main pit.
• An exploration plan of operations (EPO) was submitted to the BLM for both Wildcat and Mountain View in late 2022 and early 2023, respectively. The company is working closely with the BLM to obtain the authorizations for expanded exploration programs in the future:
  • The EPO will allow for significantly increased flexibility (400 acres of surface disturbance versus five acres of surface disturbance permitted under the current notice of operations) for future exploration, geotechnical, and metallurgical drilling to support resource growth and future economic studies at Wildcat and Mountain View.

Jason Kosec, president, chief executive officer and director, stated: "Following the transformational merger with Millennial Precious Metals, Integra now controls one of the largest precious metal resource endowments in the western USA. Our vision is to become the next mid-tier producer in the Great Basin and 2023 will be pivotal in achieving that goal. In addition to the maiden PEA for Wildcat and Mountain View, and three updated resource estimates, the company plans to submit the mine plan of operations for DeLamar. The team continues to work aggressively to unlock the full potential of these projects and continue to derisk them through advanced metallurgy, engineering, geological and environmental baseline studies, in addition to conducting exploration focused on oxide growth."

George Salamis, executive chairman, added: "Integra is committed to pursuing responsible mining development in the United States, and this is reflected in our approach to derisking and developing our key projects in Idaho and Nevada. Extensive baseline work has been under way at DeLamar for over three years, studying everything from wildlife and vegetation, to air and water quality, and soils. The permitting team has done an excellent job, and we look forward to applying the same level of dedication to the environmental baseline, stakeholder engagement and project development work under way at Wildcat and Mountain View."

DeLamar permitting update

Integra is currently in its third and potential final year of baseline study data collection for the upcoming NEPA process subsequent to the submittal to the BLM as part of the MPO in Q4 2023. To date, Integra has established 38 surface water monitoring locations, and 34 historic and new groundwater wells have been sampled quarterly since 2021, resulting in over eight quarters of site-specific data. Baseline studies have been initiated for wetlands, seeps and springs, aquatic resources, air quality, wildlife, vegetation, soils, cultural resources, and geochemistry, in addition to surface water and groundwater. To date, no federally listed threatened or endangered species have been identified in the proposed project area.

Integra has also entered into a cost-recovery agreement with the BLM, and initiated agency and tribal co-ordination to provide input on baseline studies to identify potential issues and alternatives in advance of the NEPA. In addition, Integra has worked with the BLM to select a third party consultant to assist the BLM in the process of baseline plans of study review and approval, baseline data collection, and subsequent baseline technical report review in an effort to reduce the need for baseline data gap analysis and the risk of new issues or concerns arising during the scoping process.

Share consolidation

Subject to the receipt of approval from the TSX Venture Exchange and NYSE American, Integra intends to consolidate its common shares on the basis of one postconsolidation Integra share for every 2.5 preconsolidation Integra shares. The consolidation is currently expected to be implemented on or about May 22, 2023.

As a result of the consolidation, Integra shares issuable pursuant to Integra's convertible securities will be proportionally adjusted on the same basis. No fractional share of Integra will be issued, and any fractional interest in Integra shares resulting from the consolidation will be rounded to the nearest whole Integra share.

A letter of transmittal will be mailed to registered shareholders once the consolidation has taken effect, which will contain instructions on how registered shareholders can exchange their share certificates or direct registration system advices (DRS advices), evidencing their preconsolidation Integra shares, for new share certificates or DRS advices representing the number of postconsolidation Integra shares to which they are entitled.

DeLamar project overview

The past-producing DeLamar project, which includes the adjacent DeLamar and Florida Mountain gold and silver deposits, is located in Owyhee county in southwest Idaho. Since acquiring the project in 2017, the company has demonstrated significant resource growth and conversion while providing robust economic studies in its maiden preliminary economic assessment and prefeasibility study (PFS). An independent technical report for the PFS on the DeLamar project has been prepared in accordance with the requirements of National Instrument 43-101 and is available under the company's profile at SEDAR.

Wildcat project overview

Wildcat is located within the Farrell mining district in Nevada, 56 km north of the town of Lovelock within Pershing county. The property can be accessed by year-round roads from Lovelock by State Route 399 and Seven Troughs Road. The 17,612-acre land package consists of 916 unpatented claims and four patented claims. The claims are located on publicly owned lands administered by the BLM. The mineralization at Wildcat consists of a gold-dominated, low-sulphidation epithermal vein system with oxidized, disseminated sulphide mineralization hosted in volcanic and intrusive rocks. The inferred mineral resource estimate at Wildcat contains 776,000 ounces of Au (oxide) (60.8 million tonnes at 0.4 g/t Au, effective date of Nov. 18, 2020). A technical report for the Wildcat project is available on the Millennial Precious Metals' issuer profile on SEDAR.

Mountain View project overview

Mountain View is located within the Deep Hole mining district in Nevada, 24 km north of the town of Gerlach within Washoe county. The project area is covered by a 5,476-acre land package consisting of 282 unpatented claims, located on publicly owned lands administered by the BLM. Gold-dominated mineralization at Mountain View consists of low-sulphidation epithermal veins, and disseminated oxide and sulphide mineralization hosted in Cenozoic volcanic rocks. Mountain View has an inferred mineral resource estimate containing 427,000 ounces of Au (oxide) (23.2 million tonnes at 0.57 g/t Au, effective date of Nov. 15, 2020). A technical report for the Mountain View project is available on the Millennial Precious Metals' issuer profile on SEDAR.

About Integra Resources Corp.

Integra Resources is one of the largest precious metal exploration and development companies in the Great Basin of the western USA. Integra is currently focused on advancing its three flagship oxide heap-leach projects: the past-producing DeLamar project located in southwestern Idaho, and the Wildcat and Mountain View projects located in western Nevada. The company also holds a portfolio of highly prospective early-stage exploration projects in Idaho, Nevada and Arizona. Integra's long-term vision is to become a leading United States-focused mid-tier gold and silver producer.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Raphael Dutaut, PhD (PGeo), Integra's vice-president, exploration, and Tim Arnold, PE, SME, Integra's chief operating officer. Both individuals are qualified persons as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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