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Integra Resources Corp (3)
Symbol ITR
Shares Issued 68,777,531
Close 2023-11-07 C$ 0.96
Market Cap C$ 66,026,430
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Integra Resources files NI 43-101 report for DeLamar

2023-11-08 13:30 ET - News Release

Mr. Jason Kosec reports

INTEGRA FILES TECHNICAL REPORT FOR UPDATED MINERAL RESOURCE ESTIMATE AT THE DELAMAR PROJECT

Integra Resources Corp. has filed a technical report for the updated mineral resource estimate (MRE) at the DeLamar and Florida Mountain project located in southwestern Idaho.

The MRE incorporates the results from the highly successful stockpile drill program completed in April 2023. The stockpile drill program added an Indicated resource of 504,000 ounces ("oz") gold equivalent ("AuEq")1 and an Inferred resource of 46,000 oz AuEq. Subject to further economic studies, the mineralized stockpile and backfill material that was incorporated into the updated MRE demonstrates the potential for this material to significantly increase the heap leach mine life in future production phases. The updated MRE increased the total heap leachable oxide-and-mixed ounces within the Measured and Indicated ("M&I") category by ~25% and increased the total Inferred ounces by ~31%. In total, ~90% of the updated MRE falls within the M&I category, highlighting the quality and scarcity of projects such as DeLamar in the prolific Great Basin mining district of the USA.

DeLamar Technical Report Highlights:

Including the 2023 DeLamar MRE, Integra now controls a total M&I resource of 6.2 million ounces ("Moz") AuEq and a total Inferred resource of 0.9Moz AuEq across its key projects located in Idaho and Nevada, representing one of the largest resource endowments in the Great Basin of the USA not controlled by a major mining company2.

Stockpile & Backfill Resource Update:

The maiden stockpile resource estimate contains an Indicated resource of 504 thousand ounces ("koz") AuEq at 0.37 grams per tonne ("g/t") AuEq, including 296koz gold ("Au") and 16.1Moz silver ("Ag") and an Inferred resource of 46koz AuEq at 0.30 g/t AuEq, including 26koz Au and 1.5Moz Ag.

The Company allocated a total of ~US$4.6 million to the stockpile drill program which successfully resulted in the addition of >500kozs AuEq (M&I), representing the lowest discovery cost per ounce in the history of DeLamar.

A portion of the mineralized stockpile and backfill material was moved as a pre-stripping cost in the 2022 Pre-feasibility Study ("PFS"), however this material is expected to be processed in future economic studies. The stockpile and backfill material is also expected to reduce the overall mining cost as the material is located at surface and was previously mined, reducing or eliminating additional blasting costs.

Total DeLamar and Florida Mountain Resource Update:

The total DeLamar M&I resource contains 4.8Moz AuEq at 0.60 g/t AuEq, including 2.9Moz Au and 142.7Moz Ag.

The total DeLamar Inferred resource contains 621koz AuEq at 0.45 g/t AuEq, including 428koz Au and 15.0Moz Ag.

Oxide-mixed Heap Leach Resource Update:

The oxide and mixed heap leach portion of the M&I resource contains 2.6Moz AuEq at 0.50 g/t AuEq, including 1.6Moz Au and 73.9Moz Ag.

The oxide and mixed heap leach portion of the Inferred resource contains 284koz AuEq at 0.36 g/t AuEq, including 199koz Au and 6.6Moz ounces Ag.

The significantly increased oxide and mixed resource at DeLamar demonstrates the potential for an extended heap leach mine life in future phases of operations.

The Company anticipates filing the Mine Plan of Operations ("MPO") for DeLamar in Q4 2023, making DeLamar one of the only precious metal development projects in the Western United States that is actively being advanced towards a production permit.

The Report is titled "Technical Report for the DeLamar and Florida Mountain Gold-Silver Project, Owyhee County, Idaho, USA" and has been prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The key results from the Report were summarized in the Company's news release dated September 26, 2023. A copy of the full Report is available on the Company's website and has been filed on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov.

The results of the PFS on DeLamar included in the 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 January 24, 2022, remain unaffected by this MRE update and have been included in the Report.

Sampling and 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, Nevada for preparation and analysis. Analysis of gold is performed using fire assay method with atomic absorption finish on a 1 assay ton aliquot. Gold results over 5 g/t are re-run using a gravimetric finish. Silver analysis is performed using ICP for results up to 100 g/t on a 5-acid digestion, with a fire assay, gravimetric finish for results over 100 g/t silver.

Qualified Persons

The scientific and technical information contained in this news release has been reviewed and approved by Raphael Dutaut, Ph.D (P.Geo), 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.

Michael Gustin, C.P.G., of RESPEC, Reno, Nevada is an independent Qualified Person as defined by NI 43-101 and has reviewed and approved the contents of this news release.

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 PFS. A copy of the full Report is available on the Company's website and has been filed on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov.

About Integra Resources

Integra is one of the largest precious metals 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 USA focused mid-tier gold and silver producer.

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