VANCOUVER, BC, April 22, 2025 /PRNewswire/ - Integra Resources Corp. ("Integra" or the "Company") (TSXV: ITR) (NYSE American: ITRG) is pleased to provide an interim operational update for the first quarter ended March 31, 2025 (the "first quarter 2025" or "Q1 2025"). The Company plans to release its first quarter 2025 financial results after market close on Wednesday, May 14, 2025, followed by a conference call hosted by senior management on Thursday, May 15, 2025 at 11:00 AM Eastern Time / 8:00 AM Pacific ...

Core Viewpoint - Gold prices have surged above $3,200 per ounce, prompting major banks to revise their forecasts, with UBS predicting $3,500 and Deutsche Bank targeting $3,700, as investors seek safe havens amid economic uncertainty [1] Group 1: Gold Market Dynamics - The rise in gold prices has led to increased interest in gold mining stocks, alongside physical bullion and gold ETFs, as investors look for amplified exposure to rising gold prices [1] - Junior exploration companies are gaining attention due to promising drill results, indicating significant upside potential in the gold mining sector [2] Group 2: Lake Victoria Gold Developments - Lake Victoria Gold has secured four new Mining Licenses for its Tembo Project in Tanzania, marking a significant advancement in its development strategy [3][5] - The approval of Mining Licenses provides long-term operational visibility, valid for an initial 10-year term with an option for renewal [5] - The Tembo Project has attracted over $28 million in exploration investment, with extensive drilling completed, establishing a strong technical foundation [4] Group 3: Exploration and Resource Potential - Lake Victoria Gold has identified three high-priority targets within the Tembo Project area, showing promising gold grades and potential for resource growth [6] - Notable drilling results at the Ngula 1 target include intercepts of 3.13 grams per tonne (g/t) over 25.89 meters and 22.18 g/t over 15 meters, indicating a potentially significant gold system [7] - At the Nyakagwe Village target, high-grade gold zones have been confirmed, with standout results of 78.1 g/t over one meter and 27.88 g/t over 3.96 meters [8] - Drilling at Nyakagwe East revealed a 300-meter mineralized zone with notable results such as 19.1 g/t over three meters, demonstrating consistency in high-grade intercepts [9] Group 4: Future Development Plans - With Mining Licenses secured, Lake Victoria Gold is evaluating development pathways, including early-stage open-pit mining and potential toll milling options for gold production [10] - The company is also considering a standalone processing plant if future volumes justify in-house processing [11] - A follow-up drill program is planned to convert historical high-grade intercepts into formal resource estimates, with 38 new exploration targets identified across the property [12] Group 5: Strategic Partnerships - Lake Victoria Gold maintains options for partnerships, having previously sold non-core licenses to Barrick Gold, which supports the advancement of the Tembo Project while providing potential upside from discoveries near the Bulyanhulu Mine [13] Group 6: Broader Industry Context - Other companies in the gold sector, such as Integra Resource Corp. and GoldMining Inc., are also advancing their projects, with significant exploration programs and permitting processes underway, reflecting a robust interest in gold mining opportunities [15][16][17]

Core Viewpoint - Integra Resources Corp. has submitted an updated Mine Plan of Operations (MPO) for the DeLamar Project to the U.S. Bureau of Land Management, marking a significant step in the federal permitting process under the National Environmental Policy Act (NEPA) [1][5] Group 1: Updated Mine Plan of Operations - The submission of the updated MPO initiates the pathway to the issuance of a Notice of Intent (NOI), which will lead to the preparation of an Environmental Impact Statement (EIS) to evaluate potential environmental effects [5] - The MPO reflects a significantly optimized and environmentally enhanced mine plan, including a more compact project footprint and design modifications aimed at reducing projected carbon emissions and water usage [6] Group 2: Strategic Appointments - The company has appointed U.S. Air Force Lieutenant General (Ret.) Leonard "Leo" Kosinski as a strategic Board Advisor to enhance federal engagement during the permitting process [2][8] - General Kosinski brings over 31 years of military and international leadership experience, which will be beneficial as the company navigates the permitting landscape [9][10] Group 3: Government Support and Executive Order - The company acknowledges the Executive Order published on March 20, 2025, titled "Immediate Measures to Increase American Mineral Production," which aims to streamline permitting timelines and enhance federal coordination [3][11] - The Executive Order addresses permitting bottlenecks for upstream resource projects, emphasizing the importance of domestic mineral supply chains for national security and economic stability [11]

Financial Data and Key Metrics Changes - The company ended 2024 with a cash balance of $52 million, positioning it strongly for 2025 objectives without needing additional financing [12][24] - Q4 2024 revenue was $30.4 million with a gross profit of $5.4 million, reflecting an 18% profit margin [27] - Q4 net income was $9.5 million, including a bargain purchase gain of $14 million, adjusted earnings per share were $0.02 [27][28] Business Line Data and Key Metrics Changes - Florida Canyon produced over 72,000 ounces of gold in 2024, the highest output in 21 years, with Q4 production of approximately 11,000 ounces at all-in sustaining costs of $2,103 per ounce [9][10][14] - At DeLamar, significant advancements were made in engineering and permitting, setting the stage for a feasibility study in 2025 [11][18] - The Nevada North project confirmed continuity of mineralization through a successful drill program [11][22] Market Data and Key Metrics Changes - The average realized gold price during Q4 was $2,643 per ounce, indicating favorable market conditions for gold sales [10] - The company is positioned to benefit from the evolving regulatory landscape in the US, which is streamlining permitting processes for mining projects [35][36] Company Strategy and Development Direction - The company aims to operate efficiently, develop responsibly, allocate capital wisely, and grow through tactical M&A, focusing on becoming a leading mid-tier gold producer [8][32] - In 2025, the company plans to optimize production at Florida Canyon, release a feasibility study for DeLamar, and advance the Nevada North project [30][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position to make significant progress at DeLamar in 2025, citing a favorable political and economic backdrop [20][35] - The company is focused on generating robust cash flow and margin expansion in the coming years [34] Other Important Information - The company has made key executive appointments to enhance operational strength and support growth initiatives [37][38] - The company is exploring strategic M&A opportunities to support its growth objectives [32] Q&A Session Summary Question: Can you provide guidance on mining costs and unit costs moving forward? - Management refrained from providing specific guidance for 2025 figures but indicated that G&A costs would increase as the company transitions from a development stage to a producer [46] Question: What is the current utilization of the mining fleet and plans for new equipment? - The mining fleet is achieving mid-80s utilization, with plans for a study to determine the best next steps for equipment maintenance and potential new purchases [54][55] Question: Can you provide an update on the hedging program? - The company has hedged approximately 75% of gold sold ounces through put options with a floor of $2,400, and plans to evaluate further hedging strategies for 2025 [60][62]

Company Overview - Integra Resources (ITRG) is a U.S. gold mining company with assets located in Idaho and Nevada [1] - The main assets include the development projects DeLamar and Nevada North, along with smaller producing gold projects [1] Investment Strategy - The company focuses on turnarounds in the natural resource industries, typically maintaining a holding period of 2-3 years [2] - Emphasizing value offers good downside protection while still allowing for significant upside potential [2] - The portfolio has achieved a compounded annual growth rate of 26% over the last 6 years [2]

Core Viewpoint - Integra Resources Corp. has appointed Clifford Lafleur as Chief Operating Officer, marking a significant step in the company's transformation into a growth-focused precious metals producer in the Great Basin of the U.S. [1][3] Company Overview - Integra Resources is a growing precious metals producer focused on operational excellence at its Florida Canyon Mine in Nevada and advancing its development-stage projects, DeLamar and Nevada North [6]. Appointment of COO - Clifford Lafleur brings over 25 years of operational and executive experience in mining, having previously contributed to the success of SilverCrest Metals, which was sold for $1.7 billion [2]. - Mr. Lafleur's role will be pivotal in optimizing operations at Florida Canyon and advancing development projects [3][4]. Strategic Focus Areas - The company aims to enhance operational execution at Florida Canyon through strategic mine optimization and cost discipline [4]. - There is a focus on maximizing the value of the development portfolio, particularly through advanced technical studies and construction efforts at DeLamar and Nevada North [4]. - Strategic capital allocation will ensure that cash flow from Florida Canyon is effectively reinvested to maximize shareholder value [4]. Future Guidance - Integra plans to release its formal 2025 operating and cost guidance in mid-2025, allowing Mr. Lafleur to assess operations and onboard effectively [4].

Company Update - Integra Resources Corp. has appointed Dale Kerner as Vice President of Permitting, effective early March 2025, to enhance the permitting process for the DeLamar Project [1][3][5] - Kerner brings over 25 years of experience in environmental permitting and regulatory compliance, previously working on the Stibnite Gold Project [4][6] - The company is actively hiring a Chief Operating Officer (COO) to strengthen its operational team, with interviews already conducted [11][12] Gold Price Protection Program - Integra has implemented a gold price protection program for 2025 production from the Florida Canyon Mine, aimed at securing margins and reducing gold price risk [7][9] - The program includes the purchase of put options with a strike price of US$2,400 per ounce, totaling 56,500 hedged ounces for 2025 [8][10] Operational Guidance - The new COO will oversee mining operations at Florida Canyon and will be crucial in determining operating and cost guidance for 2025 [12][13] - Formal 2025 operating and cost guidance will be provided after the COO's appointment, with additional commentary on operations expected during the release of the 2024 fourth quarter and full-year results [13][14] Upcoming Financial Results - Integra plans to release its fourth quarter and full-year 2024 operating and financial results on March 26, 2025, followed by a conference call on March 27, 2025 [14]

Company Overview - Integra Resources (NYSE: ITRG) is a smaller U.S.-focused gold mining company, listed in both the U.S. and Canada, with its reporting currency in U.S. Dollars [2]. Investment Strategy - The investment strategy focuses on companies with quality characteristics that are trading at depressed valuations, allowing investors to participate in the upside of natural resource investing while minimizing extreme drawdowns [3]. - The company primarily invests in turnaround stories within the natural resource industries, driven by favorable monetary and fiscal policies, underinvestment, and attractive valuations [4]. Performance Metrics - The portfolio has achieved a compounded annual growth rate of 24% over the last 6 years, indicating strong performance in the investment strategy [1].

Company Overview - Integra Resources Corp. is a growing precious metals producer located in the Great Basin of the Western United States, focusing on profitability and operational excellence at its Florida Canyon Mine in Nevada [2] - The company is also advancing its development-stage heap leach projects, including the DeLamar Project in Idaho and the Nevada North Project in Nevada [2] - Integra aims to create sustainable value for shareholders and local communities through efficient project development, disciplined capital allocation, and strategic mergers and acquisitions while adhering to high environmental, social, and governance standards [2] Recent Developments - On January 24, 2025, the company granted a total of 1,362,415 options, 1,306,184 restricted share units, and 348,726 deferred share units as part of its Equity Incentive Awards to employees, executives, directors, and consultants [1] - The options granted have an exercise price of C$1.37 per share and will expire five years from the date of grant [1]

Core Viewpoint - Integra Resources Corp. has announced positive results from its 2024 drill program at the Wildcat Deposit in Nevada, enhancing geological understanding and supporting future feasibility studies [1][2][6]. Group 1: Drill Program Results - The 2024 drill program included 10 holes totaling approximately 1,940 meters, aimed at gathering data on heap-leachable material and testing high-grade breccia targets [1][2]. - Significant oxide mineralized material was intercepted, confirming grade continuity at Wildcat, with notable drill results including: - WCCD-0017: 0.52 g/t oxide Au over 62.5m - WCCD-0018: 0.38 g/t oxide Au over 64.6m - WCCD-0019: 0.27 g/t oxide Au over 147.5m [4][9]. - The program also included the installation of piezometers to gather data on water table elevation, which is expected to facilitate future permitting processes [4][9]. Group 2: Geological Insights - The exploration component of the drill program indicated the presence of a potential feeder breccia pipe located beneath post-mineralization basalts, with encouraging geological interpretations guiding future drilling campaigns [2][10]. - Drilling at Rhyolite Ridge confirmed the continuity of brecciated tuff, with evidence of hydrothermal fluid activity suggesting additional mineralization beyond the main pit area [11][12]. Group 3: Economic Assessment - A Preliminary Economic Assessment (PEA) released in June 2023 indicated strong project economics for the Nevada North Project, with an after-tax NPV of US$310 million and a 37% after-tax IRR at base case metal prices [3][5]. - Using more recent metal prices, the project shows an after-tax NPV of US$490 million and a ~54% after-tax IRR, highlighting the economic viability of the Wildcat Deposit [5][17]. Group 4: Future Plans - The company plans to continue drilling to further delineate the breccia pipe geometry and test for high-grade mineralization, reinforcing the strategic importance of the Wildcat Deposit within Integra's portfolio [12][6].