Integra Receives Positive Approval to Proceed with Underground Development and Exploration Drill Program at Florida Mountain; Intersects 2.37 G/T AuEq over 90.98 M, Including 11.57 G/T AuEq over 12.65 M, and 1.83 G/T AuEq over 97.54 M, Including 77.15 G/T
1050 – 400 Burrard Street
Vancouver, British Columbia, Canada
V6C 3A6
Email: [email protected]
FOR IMMEDIATE RELEASE TSXV: ITR ; NYSE American: ITRG
February 24, 2022 www.integraresources.com
INTEGRA RECEIVES POSITIVE APPROVAL TO PROCEED WITH UNDERGROUND DEVELOPMENT AND
EXPLORATION DRILL PROGRAM AT FLORIDA MOUNTAIN; INTERSECTS 2.37 G/T AuEq OVER 90.98 M,
INCLUDING 11.57 G/T AuEq OVER 12.65 M, AND 1.83 G/T AuEq OVER 97.54 M, INCLUDING 77.15 G/T
AuEq over 1.52 M
• Integra received positive approval from the United States Department of the Interior Bureau of Land
Management (“BLM”) through an Environmental Assessment ( “EA”) authorizing an underground
development and exploration drill p rogram to be conducted at the Company’s discretion, further
underscoring interest to support responsible mineral development at the DeLamar Project
• Drill result highlights from Florida Mountain include:
o FME-21-130
▪ 1.79 grams per tonne (“g/t”) gold (“Au”) and 45.17 g/t silver (“Ag”) ( 2.37 g/t gold
equivalent (“AuEq”)) over 90.98 meters (“m”)
• Including 0.15 g/t Au and 155.52 g/t Ag (2.16 g/t AuEq) over 6.25 m
• Including 9.32 g/t Au and 174.41 g/t Ag (11.57 g/t AuEq) over 12.65 m
• Including 1.86 g/t Au and 18.84 g/t Ag (2.10 g/t AuEq) over 15.55 m
o FME-21-134
▪ 1.65 g/t Au and 14.24 Ag (1.83 g/t AuEq) over 97.54 m
• Including 0.40 g/t Au and 57.88 g/t Ag (1.14 g/t AuEq) over 7.01 m
• Including 6.66 g/t Au and 21.11 g/t Ag (6.93 g/t AuEq) over 21.64 m
• Including 74.90 g/t Au and 175.00 g/t Ag (77.15 g/t AuEq) over 1.52 m
o FME-21-135
▪ 2.81 g/t Au and 444.00 g/t Ag (8.52 g/t AuEq) over 1.83 m
o FME-21-136
▪ 1.07 g/t Au and 174.11 g/t Ag (3.31 g/t AuEq) over 10.97 m
• Including 2.91 g/t Au and 445.19 g/t Ag (8.64 g/t AuEq) over 2.59 m
• As discussed in the Company’s recent P re-feasibility Study (“PFS”) news release dated February 9,
2022, and subject to future studies and drilling, the Company’s 110 high grade intercepts largely from
outside the Florida Mountain resource envelope, could positively impact the already robust
economics of the Project
• To view a video of President and CEO George Salamis discussing the drill results, click on the following
link: https://www.youtube.com/watch?v=F8QV8q0_6G4
Vancouver, British Columbia – Integra Resources Corp. (“Integra” or the “Company”) (TSX-V: ITR; NYSE
American: ITRG) announces drill results from the 2021 Florida Mountain drill program at the DeLamar
Project (“DeLamar” or the “Project”) which continue to demonstrate the potential for a high -grade
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resource below the existing Florida Mountain Deposit. In addition, the Company is pleased to announce
that it has received approval from the BLM authorizing an underground development and exploration drill
program at Florida Mountain. This underground development and exploration drill program could begin
at the Company’s discretion , subject to further on -going studies, and would allow for more efficient
delineation of high-grade resources below the Florida Mountain resource envelope.
“The Company is excited that the team at the BLM, working alongside our environmental permitting staff
in Boise, Idaho, granted Integra the approval through an EA authorizing an underground development and
exploration drill program at Florida Mountain. We are obviously very pleased with this news which we
view as a positive endorsement for respon sible resource development and exploration at the DeLamar
Project. The Company will engage third-party contractors to create a plan to potentially develop, at the
Company’s discretion, underground access at Florida Mountain to pursue an underground explora tion
drill program,” stated Integra President and CEO George Salamis. “An underground exploration drill
program, subject to the outcome of on-going studies, would allow the Company to drill the existing high-
grade gold-silver structures far more efficiently on tighter drill spacings and with less drill meters than
that which could be accomplished from surface drilling alone . Other potential operating efficiencies
include the ability to work in all seasons at Florida Mountain , from underground drill stations, as well as
to conduct limited bulk sampling on high grade gold-silver mineralization.
Mr. Salamis continued, “Exceptional drill results like those reported today continue to show the potential
for resource growth at Florida Mountain . T hese resu lts include both long runs of higher -grade
mineralization within the pit as well as continued high-grade hits below the existing resource envelope at
Florida Mountain. The Company has now intersected 110 drill intercepts of 4 g/t AuEq or greater with a
minimum width of 1.52 m at Florida Mountain, demonstrating the potential to complement the robust
low-grade resource at surface with a high -grade resource at depth. The potential to add a high -grade
resource below Florida Mountain , subject to on -going studies , could further enhance the robust
economics of the recently released PFS by increasing the grade of the material being processed through
the contemplated mill.”
The following table highlights selected intercepts from the Florida Mountain drill results announced today:
Drill Hole From
(m)
To
(m)
Interval
(m) g/t Au g/t Ag g/t AuEq
FME-21-130 1.68 92.66 90.98 1.79 45.17 2.37
including 3.20 9.45 6.25 0.15 155.52 2.16
including 15.70 28.35 12.65 9.32 174.41 11.57
including 77.11 92.66 15.55 1.86 18.84 2.10
FME-21-130 191.72 193.24 1.52 0.67 111.00 2.10
FME-21-130 267.31 268.04 0.73 2.73 538.00 9.65
FME-21-131 36.27 56.08 19.81 0.38 2.33 0.41
including 43.89 46.94 3.05 1.04 2.96 1.07
FME-21-131 138.07 154.23 16.16 0.56 11.23 0.70
including 146.00 147.52 1.52 2.05 40.83 2.58
FME-21-132 0.00 110.64 110.64 0.54 10.36 0.68
FME-21-134 2.13 99.67 97.54 1.65 14.24 1.83
including 2.13 9.14 7.01 0.40 57.88 1.14
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including 78.03 99.67 21.64 6.66 21.11 6.93
including 94.49 96.01 1.52 74.90 175.00 77.15
FME-21-135 97.23 133.20 35.97 0.25 12.14 0.40
including 122.23 123.44 1.21 2.09 3.29 2.13
including 128.32 130.15 1.83 0.49 125.00 2.10
FME-21-135 222.81 224.64 1.83 2.81 444.00 8.52
FME-21-136 0.00 104.55 104.55 0.50 9.78 0.63
including 5.18 12.95 7.77 0.97 36.46 1.44
including 90.83 103.02 12.19 2.00 9.34 2.12
including 90.83 92.96 2.13 5.27 9.43 5.39
FME-21-136 298.55 309.52 10.97 1.07 174.11 3.31
including 298.55 301.14 2.59 2.91 445.19 8.64
FME-21-137 71.48 124.05 52.57 0.27 8.82 0.39
including 119.48 121.01 1.53 0.92 131.00 2.61
FME-21-137 145.39 158.95 13.56 0.43 33.42 0.86
including 146.91 148.44 1.53 2.52 140.00 4.32
FME-21-139 0.00 163.68 163.68 0.28 8.45 0.39
including 73.76 75.29 1.53 1.92 65.44 2.76
including 157.28 161.24 3.96 0.39 65.77 1.24
FME-21-139 258.96 259.48 0.52 1.34 311.49 5.35
including 259.23 259.48 0.25 2.35 540.00 9.30
FME-21-149 49.07 100.89 51.82 0.13 22.83 0.43
including 53.65 55.17 1.52 0.04 202.00 2.64
FME-21-149 128.32 129.85 1.53 3.04 13.54 3.21
FME-21-150 40.84 115.52 74.68 0.23 17.73 0.46
including 51.97 53.49 1.52 1.84 251.00 5.07
including 104.85 106.38 1.53 3.11 21.28 3.38
FME-21-150 142.95 171.91 28.96 0.49 7.20 0.58
including 164.29 165.81 1.52 3.66 4.15 3.71
(1) Downhole thickness; true width varies depending on drill hole dip; most drill holes are aimed at
intersecting the vein structures close to perpendicular therefore true widths are close to
downhole widths (approximately 70% conversion ratio)
(2) Gold equivalent = g Au/t + (g Ag/t ÷ 77.70)
(3) Intervals reported are uncapped
To view a cross section of Florida Mountain, click on the link below:
https://integraresources.com/site/assets/files/2572/february_fm_nr_xn_vuse.pdf
To view a plan map of Florida Mountain with the location of the cross section, Click on the link below:
https://integraresources.com/site/assets/files/2572/february_fm_nr_plan2.pdf
To view a topographical drill hole location map of Florida Mountain, click on the link below:
https://integraresources.com/site/assets/files/2572/drill_collar_location_-_fm-_2022-02-17.pdf
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The Florida Mountain Underground Mineral Exploration Plan of Operations
The BLM has conducted an EA (DOI-BLM-ID-B030-2022-0001EA) for Integra Resources’ DeLamar Mining
Company’s ( “DMC”) proposed underground development and exploration drill program at its current
operation in Owyhee County, Idaho. The proposed project would include the construction of an
underground portal pad in the historic mining area of Blue Gulch, exploration drifting into Florida
Mountain, the establishment of drill stations perpendicular to the veins and an underground exploration
drill plan. Based upon a review of the EA and DMC ’s commitments to minimizing environmental effects
during construction, operation, and reclamation of the proposed project, BLM has determined that the
Stone Cabin Mine Underground Portal Plan of Operations Amendment was not a major federal action and
did no t significantly impact the quality of the human environment. As defined by Code of Federal
Regulations (“CFR”) an environmental impact statement was not needed for this action. A Finding of No
Significant Impact (“FONSI”) was signed allowing the Company to move forward with detailed design and
subsequent construction activities.
The Company has now intersected 110 intercepts of 4 g/t AuEq or greater with a minimum width of 1.52
m. The drill success below the existing resource envelope at Florida Mountain continues to demonstrate
the potential for a high -grade resource below the Florida Mountain Deposit , which was recently the
subject of a PFS. None of these high-grade intercepts have been included in a Resource Estimate to date.
Including a high-grade resource into the mine plan laid out in the PFS has the potential to further enhance
the economics of the mill. Florida Mountain Non-Oxide material, which includes the high-grade intersects
disclosed today, could be processed through the existing mill flow sheet based on known metallurgy.
Increasing the grade and material run through the mill has the potential to increase production profile for
both gold and silver.
Select intercepts from drill holes FME-21-130, FME-21-132 and FME -21-135 were ru shed at the
laboratories and previously reported (please see the Company news release dated August 31, 2021). The
remaining portions of these drill holes were announced today in the table above.
Current Drill Status
The Company currently has 1 drill rig in operation at Sullivan Gulch. This drill rig is testing the extensions
of the Sullivan Gulch target while providing crucial data for further Albion test work.
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 (AA) 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 Person
The scientific and technical information contained in this news release has been reviewed and approved
by E. Max Baker Ph.D. (F.AusIMM), Integra’s Vice President Exploration, and is a “Qualified Person” (“QP”)
as defined in National Instrument 43- 101 – Standards of Disclosure for Mineral Projects.
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About Integra Resources
Integra is a development -stage mining company focused on the exploration and de -risking of the past
producing DeLamar Gold-Silver Project in Idaho, USA. Integra is led by the management team from Integra
Gold Corp. which successfully grew, developed and sold the Lamaque Project, in Quebec, for C$600 M in
2017. Since acquiring the DeLamar Project, which includes the adjacent DeLamar and Florida Mountain
gold and silver Deposits, in late 2 017, the Company has demonstrated significant resource growth and
conversion while providing a robust economic study in its maiden Preliminary Economic Assessment. The
Company is currently focused on resource growth through brownfield and greenfield exploration and the
the completion of an independent technical report for the PFS on the DeLamar Project announced on
February 9, 2022. The independent technical report prepared in accordance with the requirements of NI
43-101 will be available under the Company’s SEDAR profile within 45 days of the PFS news.
ON BEHALF OF THE BOARD OF DIRECTORS
George Salamis
President, CEO and Director
CONTACT INFORMATION
Corporate Inquiries: [email protected]
Company website: www.integraresources.com
Office phone: 1 (604) 416-0576
Forward looking and other cautionary statements
This news release contains “forward-looking information” and “forward-looking statements” (collectively,
“forward-looking statements”) within the mean ing of the applicable Canadian securities legislation. All
statements, other than statements of historical fact, are forward -looking statements and are based on
expectations, estimates and projections as at the date of this news release. Any statement that involves
discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions,
future events or performance (often, but not always using phrases such as “plans”, “expects”, “is
expected”, “budget”, “scheduled”, “estim ates”, “forecasts”, “intends”, “anticipates”, or “believes” or
variations (including negative variations) of such words and phrases, or state that certain actions, events
or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements
of historical fact and may be forward -looking statements. In this news release, forward -looking
statements relate, among other things, to: statements about the scope, timing and completion of the Pre-
feasibility study; estimates of meta llurgical recovery rates and the contribution of silver production to
mining operations; anticipated advancement of DeLamar and future exploration prospects. These
forward-looking statements, and any assumptions upon which they are based, are made in good faith and
reflect our current judgment regarding the direction of our business. Management believes that these
assumptions are reasonable. Forward -looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results, performance or achievements of the
Company to be materially different from any future results, performance or achievements expressed or
implied by the forward -looking information. Such factors include, among others: risks related to the
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speculative nature of the Company’s business; the Company’s formative stage of development; the
Company’s financial position; possible variations in mineralization, grade or recovery rates; actual results
of current exploration activities; actual results of recla mation activities; conclusions of future economic
evaluations; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in
securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other
commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar
exchange rate); change in national and local government, legislation, taxation, controls regulations and
political or economic developments; risks and hazards associated with the business of mineral
exploration, development and mining (including environmental hazards, industrial accidents, unusual or
unexpected formation pressures, cave-ins and flooding); inability to obtain adequate insurance to cover
risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee
relations; relationships with and claims by local communities and indigenous populations; availability of
increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration
and development (including the risks of obtaining necessary licenses, permits and approvals from
government authorities); and title to properties. Although the forward -looking statements contained in
this news release are based upon what management of Integra believes, or believed at the time, to be
reasonable assumptions, Integra cannot assure its shareholders that actual results will be consistent with
such forward-looking statements, as there may be other factors that cause results not to be anticipated,
estimated or intended.
Forward-looking statements contained herein are made as of the date of this news release and the
Company disclaims any obligation to update any forward-looking statements, whether as a result of new
information, future events or results, except as may be required by applicable securities laws. There can
be no assurance that forward-looking information will prove to be accurate, as actual results a nd future
events could differ materially from those anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking information.
Cautionary Note for U.S. Investors Concerning Mineral Resources and Reserves
National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") is a rule of the
Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes
of scientific and technical information concerning mineral projects. Technical disclosure contained in this
news release has been prepared in accordance with NI 43-101 and the Canadian Institute of Mining,
Metallurgy and Petroleum Classification System. These standards differ from the requirements of the
U.S. Securities and Exchange Commission (“SEC”) and resource information contained in this press
release may not be comparable to similar information disclosed by domestic United States companies
subject to the SEC's reporting and disclosure requirements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.