Core Viewpoint - The updated Mine Plan of Operations (MPO) for the DeLamar Project has been accepted by the United States Bureau of Land Management (BLM), marking a significant milestone towards permitting mining activities at the site [1][3]. Company Developments - Integra Resources Corp. has demonstrated its commitment to responsible mining practices and environmental protection through the acceptance of the updated MPO and a Relationship Agreement with the Shoshone-Paiute Tribes [3][6]. - The updated MPO incorporates several years of environmental baseline studies and initial engineering design, addressing agency comments and prioritizing the placement of mine features on previously disturbed ground [6][10]. - The company plans to announce the results of an updated Feasibility Study for the DeLamar Project in the fourth quarter of 2025 [10]. Regulatory Process - The BLM will publish a Notice of Intent (NOI) in the Federal Register, initiating the Environmental Impact Statement (EIS) process, which includes public engagement and scoping [4][5]. - The EIS will analyze potential environmental effects on various resources, including air, water, wildlife habitat, and socio-economic factors [5][8]. - The MPO's acceptance is a critical step in the permitting process, which has involved nearly three years of studies and design work [6][8]. Project Overview - The DeLamar Project, located in Owyhee County, Idaho, includes the DeLamar and Florida Mountain gold and silver deposits and has shown significant resource growth since its acquisition in 2017 [10][11]. - The project is one of the few gold-silver development projects in the Western United States actively advancing through the NEPA mine permitting process, highlighting its scarcity value [6][10].

Company Overview - Integra Resources Corp. (NYSE: ITRG) is a company that operates in the mining sector, focusing on resource exploration and development [1]. Analyst Background - The analyst covering Integra Resources holds a Master's degree in Business Economics and possesses extensive managerial and economic knowledge, with a strong quantitative foundation [1]. Investment Strategy - The company describes a versatile investment strategy that caters to various investor profiles, including those interested in dividends, value propositions, or growth opportunities [1].

Core Viewpoint - Integra Resources Corp has established a groundbreaking Relationship Agreement with the Shoshone-Paiute Tribes for the DeLamar gold and silver mining project, marking a significant step in recognizing Tribal sovereignty and promoting sustainable economic development in the region [1][2]. Group 1: Agreement Details - The Agreement is the result of five years of collaboration and will guide the partnership throughout the life of the DeLamar Project [2]. - It provides a framework for collaboration and co-management of various aspects related to the DeLamar Project, including economic opportunities, environmental protection, cultural recognition, and social performance [5][3]. - The Agreement is unprecedented in the Lower 48 States, asserting the Shoshone-Paiute's right to participate in decision-making processes regarding the project [2][4]. Group 2: Economic and Community Impact - The DeLamar Project is expected to create high-wage job opportunities in rural Idaho communities, contributing to local economic development [2][4]. - The partnership aims to foster responsible economic development while protecting the values, interests, and culture of the Shoshone-Paiute Tribes [2][5]. - The Agreement aligns the interests of both parties, promoting consensus-based regulatory collaboration and community investment [3][5]. Group 3: Project Background - The DeLamar Project is located in Owyhee County, Idaho, and includes historic gold and silver deposits previously operated by Kinross Gold Corporation until 1998 [4]. - Integra has invested approximately US$140 million into advancing resource growth, engineering, and environmental baseline work since acquiring the project in 2017 [4]. - The submission of the Mine Plan of Operations to the United States Bureau of Land Management initiates the process for an Environmental Impact Statement to evaluate potential environmental effects [4].

Company Overview - Integra Resources is a smaller precious metals mining company with assets located in Nevada and Idaho, United States [1] - The company has two significant development assets, DeLamar and Nevada North, which have higher net present value estimates compared to others [1] Investment Strategy - The focus is on investing in turnarounds within the natural resource industries, typically with a holding period of 2-3 years [2] - Emphasizing value investment provides good downside protection while still allowing for significant upside potential [2] - The portfolio has achieved a compounded annual growth rate of 29% over the last six years [2]

Core Insights - Integra Resources Corp. reported consistent gold production and positive financial results for Q2 2025, with a focus on capital investment and growth at Florida Canyon [4][21][29] Financial and Operating Highlights - Mined 3,074,440 tonnes of ore and 2,966,291 tonnes of waste at a strip ratio of 0.96, achieving a mining rate of 33,785 tonnes per day, a 1% increase from Q1 2025 [7][10] - Produced 18,087 gold ounces and sold 18,194 gold ounces at a record average realized price of $3,332 per ounce, generating record revenue of $61.1 million, exceeding Q1 2025 revenue of $57.0 million [7][21] - Mine operating earnings reached $25.2 million, representing a 41% operating margin, up from $15.5 million and 27% in Q1 2025 [7][9] - Adjusted earnings were $11.8 million, or $0.07 per share, compared to $4.4 million, or $0.03 per share in Q1 2025 [7][23] - Net earnings were $10.6 million, or $0.06 per share, compared to $1.0 million, or $0.01 per share in Q1 2025 [7][22] - Cash costs decreased to $1,849 per gold ounce sold from $2,016 in Q1 2025, while mine-site all-in sustaining costs (AISC) increased to $2,641 per gold ounce from $2,342 [7][18] Capital Expenditures - The company plans to invest over $55 million into Florida Canyon in 2025 for improvements and long-term growth [4] - In Q2 2025, $14.2 million was invested in sustaining capital, totaling $20.2 million for H1 2025 [16][18] Exploration and Growth - A resource growth-focused drill program at Florida Canyon was initiated, completing approximately 5,700 meters of drilling by the end of June 2025, with an expanded scope to 16,000 meters [19][20] - The company plans to release an updated mineral reserve and resource estimate and an updated life-of-mine plan in H1 2026 [19] Development Projects - The DeLamar Project is under review by the U.S. Bureau of Land Management, with an environmental review expected to commence in H2 2025 [29][30] - The Nevada North Project is advancing with metallurgical testing and environmental analysis completed, with permits anticipated in H2 2025 [31][32] Health, Safety, and Environment - The company reported zero fatalities and zero lost time incidents in Q2 2025, with a total recordable incident frequency rate of 1.89 [34]

Industry Overview - The Zacks Mining – Gold industry is part of the broader Zacks Basic Materials sector, which is expected to see a decline in earnings for the second quarter, with overall earnings projected to fall by 7.5% despite a 2.8% increase in revenues [1] Gold Prices and Market Dynamics - Gold prices have increased significantly this year, rising approximately 29% year to date, driven by global trade tensions and safe-haven demand [3] - On April 22, gold prices reached a record high of $3,500 per ounce, and while they retreated, they closed the second quarter above $3,300 per ounce, marking a nearly 6% increase in the quarter [4] Company Performance Expectations - Gold mining companies are expected to benefit from higher gold prices and efforts to improve operational efficiency and reduce costs in their second-quarter results [2] - Despite higher mining costs due to inflationary pressures, companies are focused on reducing operational costs and improving efficiency, which is anticipated to support their margins [5] Selected Companies and Earnings Estimates - Barrick Mining Corporation is expected to report earnings of 47 cents per share, with an Earnings ESP of +1.14% and a Zacks Rank 1, having beaten earnings estimates in three of the last four quarters [9] - Franco-Nevada Corporation has an Earnings ESP of +0.91% and a Zacks Rank 3, with a consensus estimate of $1.10 for second-quarter earnings, benefiting from increased contributions from streaming agreements [11] - Integra Resources Corp. has an Earnings ESP of +4.76% and a Zacks Rank 3, with a consensus estimate of 7 cents for second-quarter earnings, expected to benefit from strong production at the Florida Canyon mine [13]

Core Viewpoint - Integra Resources Corp. has announced initial results from its 2025 resource growth drilling program at the Florida Canyon Mine, aiming to expand mineral reserves and resources, extend mine life, and enhance the mine's value [1][4]. Group 1: Drilling Program Overview - The 2025 growth drilling program targets three key areas: near-surface oxide potential from historical low-grade gold-mineralized waste, expanding in-situ resources between existing mine open pits, and testing lateral extensions and in-pit infill drilling [2][12]. - The drill program's scope has been increased from approximately 10,000 meters to 16,000 meters due to initial drilling success, with about 5,700 meters of reverse circulation drilling completed to date [2][10]. Group 2: Opportunity 1 - Near-Surface Oxide Potential - Initial results from the North Mine Dump indicate broad, near-surface intervals of oxide gold mineralization, with significant gold grades and excellent heap leach potential [4][8]. - Key intercepts include: - FCM25-0569: 0.28 grams per tonne (g/t) oxide gold over 68.6 meters - FCM25-0570: 0.36 g/t oxide gold over 71.6 meters - FCM25-0575: 0.37 g/t oxide gold over 47.2 meters, including 4.53 g/t oxide gold over 1.5 meters - Approximately 70% of drill intercepts exceed the current mine cut-off grade of 0.11 g/t gold [9][16]. Group 3: Opportunity 2 - Expanding In-Situ Resources - Drilling in the Inter-Pit areas has confirmed broad, near-surface intervals of gold mineralization with consistent grades, indicating potential for resource expansion [12][16]. - Notable intercepts include: - FCM25-0588: 0.47 g/t gold over 39.6 meters (North Pit) - FCM25-0591: 0.27 g/t gold over 114.3 meters (Central/Radio Tower Saddle) - FCM25-0600: 0.25 g/t oxide gold over 73.2 meters (Central/Radio Tower Saddle) - Approximately 40% of drill intercepts within the Radio Tower Pit exceed the current mine cut-off grade of 0.14 g/t gold, while about 35% of remaining Inter-Pit intercepts exceed 0.11 g/t gold [16][18]. Group 4: Future Plans and Expectations - The 2025 drill program is expected to support a mineral resource and reserve update, along with a revised life-of-mine plan in the first half of 2026 [11][19]. - Preliminary volume and grade estimation work is underway for the North Dump and South Dump, with further details anticipated in the coming months [11][10].

Core Viewpoint - Integra Resources Corp. is experiencing positive operational performance at the Florida Canyon Mine, with significant cash flow generation and plans for substantial reinvestment to support long-term growth and profitability [2][3]. Operational Update - Florida Canyon Mine produced 18,086 ounces of gold and sold 18,194 ounces during Q2 2025, aligning with company expectations [3]. - The total ore mined was 3,075 kt, with a waste-to-ore strip ratio of 0.96 for the quarter [3]. - The company plans to invest over $55 million in Florida Canyon for sustaining and growth capital in 2025 [2]. Financial Position - As of June 30, 2025, the company reported cash and cash equivalents of $63 million [4]. Upcoming Events - The company will release its Q2 2025 financial results on August 13, 2025, followed by a conference call on August 14, 2025 [1][6].

[Annual General Meeting (AGM) Voting Results](index=1&type=section&id=Annual%20General%20Meeting%20(AGM)%20Voting%20Results) [Overview of AGM](index=1&type=section&id=Overview%20of%20AGM) Integra Resources Corp. held its AGM on June 27, 2025, with **57.39%** of outstanding shares voted - The Annual General Meeting of Shareholders was held on **June 27, 2025**[1](index=1&type=chunk) - A total of **96,983,535 shares** were voted, representing **57.39%** of the Company's outstanding shares[1](index=1&type=chunk) [Voting Results for Key Resolutions](index=1&type=section&id=Voting%20Results%20for%20Key%20Resolutions) Shareholders approved all proposed resolutions at the AGM, covering director appointments, auditor selection, and an equity incentive plan [Setting the Number of Directors](index=1&type=section&id=Setting%20the%20Number%20of%20Directors) | | For % | Against % | | :--- | :--- | :--- | | To Set the Number of Directors at Eight | 99.79% | 0.21% | - The resolution to set the number of directors at eight was approved[2](index=2&type=chunk) [Election of Directors](index=1&type=section&id=Election%20of%20Directors) | Nominees | For % | Withheld % | | :--- | :--- | :--- | | Anna Ladd-Kruger | 99.60% | 0.40% | | George Salamis | 98.80% | 1.20% | | Timo Jauristo | 99.22% | 0.78% | | C.L "Butch" Otter | 99.56% | 0.44% | | Carolyn Clark Loder | 99.26% | 0.74% | | Eric Tremblay | 99.55% | 0.45% | | Ian Atkinson | 99.55% | 0.45% | | Janet Yang | 99.87% | 0.13% | - Eight individuals were elected as directors for the ensuing year: **Anna Ladd-Kruger, George Salamis, Timo Jauristo, C.L. "Butch" Otter, Carolyn Clark Loder, Eric Tremblay, Ian Atkinson, and Janet Yang**[3](index=3&type=chunk) [Appointment of Auditors](index=1&type=section&id=Appointment%20of%20BDO%20Canada%20LLP%20as%20Auditors%20of%20the%20Company) | | For % | Withheld % | | :--- | :--- | :--- | | Appointment of BDO LLP as Auditors of the Company | 99.88% | 0.12% | - **BDO Canada LLP** was appointed as auditors of the Company, with remuneration to be fixed by the directors[3](index=3&type=chunk) [Approval of Amended and Restated Equity Incentive Plan](index=2&type=section&id=Approval%20of%20the%20Amended%20and%20Restated%20Equity%20Incentive%20Plan) | | For % | Against % | | :--- | :--- | :--- | | Approval of the Amended and Restated Equity Incentive Plan | 99.17% | 0.83% | - The Amended Plan is a "rolling" plan, where the aggregate number of common shares issued shall not exceed **10%** of the Company's issued and outstanding common shares[6](index=6&type=chunk) - The Amended Plan increases the number of incentive stock options reserved for issuance to **5,000,000**, restricted share units to **7,000,000**, and deferred share units to **4,000,000**[6](index=6&type=chunk) [About Integra Resources](index=2&type=section&id=About%20Integra%20Resources) [Company Profile and Operations](index=2&type=section&id=Company%20Profile%20and%20Operations) Integra Resources is a precious metals producer focused on profitability at Florida Canyon Mine and advancing key development projects - Integra is a growing precious metals producer in the **Great Basin of the Western United States**[7](index=7&type=chunk) - The Company is focused on demonstrating profitability and operational excellence at its principal operating asset, the **Florida Canyon Mine**, located in Nevada[7](index=7&type=chunk) - Integra is committed to advancing its flagship development-stage heap leach projects: the past producing **DeLamar Project (Idaho)** and the **Nevada North Project (Nevada)**[7](index=7&type=chunk) - The company aims to create sustainable value through successful mining operations, efficient project development, disciplined capital allocation, strategic M&A, and upholding high environmental, social, and governance (**ESG**) standards[7](index=7&type=chunk) [Disclaimers](index=2&type=section&id=Disclaimers) [Forward-Looking Statements](index=2&type=section&id=Forward%20Looking%20and%20Other%20Cautionary%20Statements) This news release contains forward-looking statements about Integra's future performance and projects, subject to inherent risks and uncertainties - The news release contains "forward‐looking statements" regarding future operational and financial performance, plans for the Florida Canyon Mine, advancement of DeLamar and Nevada North Projects, potential resource estimates, project economics, and strategic objectives including capital allocation and M&A activities[8](index=8&type=chunk) - Forward-looking statements are based on factors and assumptions and involve known and unknown risks and uncertainties that may cause actual performance and financial results to differ materially from projections[9](index=9&type=chunk) - Readers are advised to study and consider risk factors disclosed in Integra's Annual Information Form dated **March 26, 2025**, available on SEDAR+ and EDGAR[9](index=9&type=chunk) - The Company undertakes no obligation to update forward‐looking statements if circumstances or management's estimates or opinions should change, except as required by applicable securities laws[10](index=10&type=chunk) [Regulatory Disclaimer](index=3&type=section&id=Regulatory%20Disclaimer) Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for this release's adequacy or accuracy - Neither the **TSX Venture Exchange** nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release[11](index=11&type=chunk)

Core Viewpoint - Integra Resources Corp. has provided its 2025 guidance, outlining expectations for production, operating costs, capital expenditures, and development spending across its portfolio, particularly focusing on the Florida Canyon Mine and its development-stage projects, DeLamar and Nevada North [1][2][4]. Production and Cost Outlook - Gold production from the Florida Canyon Mine is projected to be between 70,000 and 75,000 ounces in 2025 [2][7]. - Total cash costs at Florida Canyon are expected to range from $1,800 to $1,900 per ounce sold [2][8]. - Mine-site all-in sustaining costs (AISC) are anticipated to be between $2,450 and $2,550 per ounce sold, reflecting a capital-intensive period [2][10]. - Sustaining capital expenditures are estimated at $48.0 million to $53.0 million, with a significant portion allocated to the third quarter of 2025 [2][9]. Capital Expenditures and Growth Initiatives - Growth capital expenditures at Florida Canyon are projected to be between $8.0 million and $10.0 million, focusing on expansion projects and studies [2][11]. - Approximately $1.5 million is allocated for a growth drilling program, which includes around 10,000 meters of reverse circulation drilling [2][11]. Development Projects - Total expected project development spending for the DeLamar and Nevada North projects in 2025 is estimated at $14.5 million to $15.5 million [2][12]. - At DeLamar, $12.0 million to $12.5 million is allocated for feasibility study completion and permitting advancement, with significant budget portions directed towards engineering studies and permitting activities [2][13]. - For Nevada North, approximately $2.5 million to $3.0 million is designated for metallurgical testing and geochemical sampling to support future development [2][14]. Strategic Goals - The acquisition of the Florida Canyon Mine aims to secure a reliable cash flow source to advance development projects and reduce reliance on annual equity financing [4]. - The company is focused on enhancing operational efficiency and extending the mine life of Florida Canyon through significant reinvestment and improvement initiatives [5][6].