Mr. Jason Kosec reports

INTEGRA FILES MAIDEN PRELIMINARY ECONOMIC ASSESSMENT TECHNICAL REPORT FOR WILDCAT & MOUNTAIN VIEW PROJECTS

Integra Resources Corp. has filed an independent preliminary economic assessment (PEA) technical report for the Wildcat project and the Mountain View project, located in western Nevada.

The PEA demonstrates the potential for a low-cost, high-margin, heap leach gold-silver operation with a phased development and production strategy and robust economics. The average annual production of Wildcat and Mountain View, and the DeLamar project, on a combined basis, is expected to exceed 200,000 ounces (oz) of gold equivalent (AuEq), demonstrating one of the largest heap leach production profiles among precious metal developers in the Great basin.

Wildcat and Mountain View PEA highlights:

• After-tax NPV (net present value) (5 per cent) of $309.6-million (U.S.) ($408.6-million (Canadian) (1)) and 36.9-per-cent after-tax IRR (internal rate of return) using base case metal prices of $1,700 (U.S.) per oz gold (Au) and $21.50 (U.S.) per oz silver (Ag);
• After-tax NPV (5 per cent) of $442.1-million (U.S.) ($583.6-million (Canadian) (1)) and 49.7-per-cent after-tax IRR using spot metal prices on June 27, 2023 (announcement date), of $1,920 (U.S.) per oz Au and $22 (U.S.) per oz Ag;
• Wildcat and Mountain View generate combined annual production of approximately 94,000 oz AuEq from years 1 to 5, with average annual production of 80,000 oz AuEq over the 13-year life of mine (LOM);
• LOM payable metals from Wildcat and Mountain View of 1,043,000 oz AuEq;
• LOM site-level cash costs of $882 (U.S.) per oz AuEq on a co-product basis; LOM site-level all-in sustaining cash costs (AISC) of $973 (U.S.) per oz AuEq on a co-product basis;
• Year 1 initial capex of $115-million (U.S.) to begin operations at Wildcat;
• Average Au recovery of 71.4 per cent at Wildcat and 77.1 per cent at Mountain View;
• Low combined LOM strip ratio of 1.21 (Wildcat stand-alone strip ratio of 0.28);
• LOM total net free cash flow generated of $485-million (U.S.) with average net annual free cash flow of $46-million (U.S.) from years 1 to 13:
  • Updated mineral resource estimate at Wildcat and Mountain View demonstrates growth of 23 per cent and 49 per cent, respectively, compared with the previous mineral resource estimates dated November, 2020:
    • 2021 to 2022 drilling at Wildcat & Mountain View allowed the company to convert the majority of the previous resource estimate from the inferred category to the indicated (M&I (measured and indicated)) category:
      • Wildcat project: 746,000 oz Au and 6,438,000 oz Ag (829,000 oz AuEq) in M&I (59,872,806 tonnes at 0.39 gram per tonne (g/t) Au and 3.34 g/t Ag), and 210,000 oz Au and 1.98 million oz Ag (235,000 oz AuEq) in inferred (22,455,848 tonnes at 0.29 g/t Au and 2.74 g/t Ag);
      • Mountain View project: 578,000 oz Au and 3,402,000 oz Ag (622,000 oz AuEq) in M&I (28,750,517 tonnes at 0.63 g/t Au and 3.68 g/t Ag), and 60,000 oz Au and 244,000 oz Ag (63,000 oz AuEq) in inferred (4,155,502 tonnes at 0.45 g/t Au and 1.83 g/t Ag);
• The PEA results complement the 2022 prefeasibility study for the DeLamar project in southwestern Idaho, which demonstrated a base-case after-tax NPV (5 per cent) of $314-million (U.S.) and a 33-per-cent after-tax IRR (2).

(1) Canadian-dollar/U.S.-dollar foreign exchange rate of 1.32.

(2) See the National Instrument 43-101 technical report, titled, "Technical Report and Preliminary Feasibility Study for the DeLamar and Florida Mountain Gold-Silver project, Owyhee County, Idaho, USA," dated March 22, 2022, with an effective date of Jan. 24, 2022, available under Integra Resources' SEDAR profile and EDGAR profile. The gold price assumption is $1,700 (U.S.) per oz Au and the silver price assumption is $21.50 (U.S.) per oz Ag.

Integra's president, chief executive officer and director, Jason Kosec, commented: "The successful Wildcat and Mountain View PEA demonstrates two high-margin, low-cost, heap leachable gold and silver deposits with a strong combined production profile, low preproduction capex and robust economics. When combined with the DeLamar project, Integra demonstrates the path to becoming plus-200,000-ounce-AuEq-per-annum producer in the prolific Great basin. For the remainder of the year, the team is focused on delivering two more significant milestones at DeLamar, including the updated mineral resource estimate in Q3 and the submission of the mine plan of operations in Q4."

The Wildcat and Mountain View PEA technical report has been prepared for Integra by Micon International Ltd., of Toronto, Canada, and included contributions from Forte Dynamics, NewFields Mining Design and Technical Services, and Convergent Mining. The report has been prepared in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects. The report, titled, "NI 43-101 Technical Report Preliminary Economic Assessment for the Wildcat and Mountain View Projects, Pershing and Washoe Counties, Nevada, USA," is available on SEDAR under Integra's profile and on the company's website.

Integra's news release dated June 28, 2023, summarized certain key results, assumptions and estimates contained in the Wildcat and Mountain View PEA. The company is pleased to report that there are no material differences between the key results, assumptions and estimates contained in the report and Integra's news release dated June 28, 2023.

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

Qualified persons

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 (QP) as defined in NI 43-101, Standards of Disclosure for Mineral Projects.

The scientific and technical information contained in this news release has also been verified and approved by the following qualified persons within the meaning of NI 43-101, Standards of Disclosure for Mineral Projects: Richard Gowans, PEng, Micon International (metallurgy and mineral processing, environmental, permitting, and social considerations); Andrew Hanson, PE, NewFields Mining Design and Technical Services (heap leach infrastructure); Chris Jacobs, CEng, MIMMM, Micon International (economic analysis); William Lewis, PGeo, Micon International (mineral resource estimation); Deepak Malhotra, director of metallurgy, Forte Dynamics (infrastructure); and Ralston Pedersen, PE, Convergent Mining LLC (mining).

About Integra Resources Corp.

Integra is one of the largest precious metals exploration and development companies in the Great basin of the Western United States. 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 project and Mountain View project, 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.

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