Integra Strengthens Executive Team with the Appointment of Dale Kerner as Vice President of Permitting, Underscoring Commitment to Rapid Project Advancement
INTEGRA STRENGTHENS EXECUTIVE TEAM WITH THE APPOINTMENT
OF DALE KERNER AS VICE PRESIDENT OF PERMITTING,
UNDERSCORING COMMITMENT TO RAPID PROJECT ADVANCEMENT
TSXV: ITR; NYSE American: ITRG
www.integraresources.com
VANCOUVER, BC
,
Feb. 20, 2025
/CNW/ -
Integra Resources Corp. ("Integra" or the "Company")
(TSXV: ITR) (NYSE American: ITRG) is pleased to
announce that
Dale Kerner
has been appointed to the newly created position of Vice President of Permitting and is expected to formally join the Company in early
March 2025
.
Integra is also pleased to provide a corporate update including commentary on the 2025 gold price protection program, the Chief Operating Officer ("COO") hiring
process, 2025 operating and cost guidance, and the timing of 2024 fourth quarter and full-year financial and operating results.
Dale Kerner Appointed as Vice President of Permitting
Integra is pleased to welcome
Dale Kerner
as Vice President of Permitting. Mr. Kerner is based in
Boise, Idaho
, and brings over 25 years of experience in
environmental permitting and regulatory compliance, with a deep understanding of the permitting landscape in
the United States
("U.S."). His expertise will be
instrumental as Integra accelerates the permitting process for the DeLamar Project ("DeLamar").
Mr. Kerner joins Integra from Perpetua Resources Corp., where he was instrumental in successfully permitting the Stibnite Gold Project in
Idaho
– one of the
more complex permitting processes in the U.S., which recently received a final Record of Decision from the U.S.
Forest Service
. Throughout his career, Mr.
Kerner has held leadership roles with prominent environmental and engineering firms, including Haley & Aldrich and Brown and
Caldwell
, where he spearheaded
permitting efforts for various mining operations across the Western U.S.
In the newly created role of Vice President of Permitting, Mr. Kerner will be responsible for leading all aspects of permitting related to the Company's
development stage projects, including DeLamar and the Nevada North Project ("Nevada North"). This includes working closely with the U.S. Bureau of Land
Management ("BLM") in overseeing the Mine Plan of Operations ("MPO"), federal permitting efforts for the National Environmental Policy Act ("NEPA"), as well as
the numerous ancillary permits required through various federal, state, and county agencies.
Mr. Kerner commented
: "The DeLamar Project is currently at a critical permitting juncture, and I am excited to join the team to contribute to Integra's success. I
am eager to apply my recent experience to help navigate the regulatory process and advance this high-quality asset toward rapid permitting, development, and
production. The current regulatory environment in the U.S. has never been better, with both federal and state governments showing signs of increased efficiency.
Now is the time to aggressively drive permitting efforts forward at DeLamar."
George Salamis, President, CEO and Director of Integra commented
: "The addition of Dale to our leadership team marks a significant milestone for Integra
and demonstrates the quality of Integra's existing team and assets. This key hire is consistent with our major strategic goal of advancing and de-risking DeLamar,
at a crucial time when we are seeing accelerated regulatory permitting and development initiatives in the U.S. at the federal and state levels. Dale's extensive
experience and successful track record in new mine permitting will help us advance and de-risk
DeLamar and Nevada North
toward large-scale oxide heap-leach
development and production. Dale's appointment aligns with our commitment to our shareholders to strengthen our executive team in 2025 as a producing
company. We look forward to continuing to bolster the executive leadership team with the expected appointment of a COO in Q1 2025."
2025 Gold Price Protection Program Update
Integra is pleased to provide an update regarding the gold price protection program for 2025 production from the Florida Canyon Mine ("Florida Canyon"). The
program is designed to secure margins at Florida Canyon, reduce gold price risk, and to enhance financial flexibility and strength for the Company to support the
advancement of its key development assets,
DeLamar and Nevada North
.
Since the program was announced (refer to Integra's news release from
January 22, 2025
), Integra purchased additional put options with a strike price of
US$2,400
/ounce, bringing the total number of hedged ounces from February to
December 2025
to 53,350 (4,850 ounces per month). The total number of hedged
ounces from January to
December 2025
is 56,500. The put options are settled in cash.
As the hedging program consists solely of put options, Integra retains the financial flexibility to later offset the initial cash outlay by converting the put options into a
zero-cost collar or through the early monetization of the options, based on its assessment of market conditions and capital allocation priorities.
Production that is hedged by put options represents approximately 80% of the contemplated 2025 gold ounces sold at Florida Canyon as set out in the 2024 NI
43-101 technical report titled: "NI 43-101 Technical Report, Florida Canyon Gold Mine,
Pershing County, Nevada
, USA", dated
July 11, 2024
with an effective
date of
June 28, 2024
available under Integra's SEDAR+ profile at
www.sedarplus.ca
.
Chief Operating Officer Appointment & 2025 Guidance Update
As part of an ongoing initiative to strengthen Integra's operating and development team, the Company initiated hiring efforts for a COO in early 2025. Integra is
pleased to share that it has received strong interest in the role from numerous seasoned mining executives. Integra's leadership team recently conducted
interviews with a shortlist of highly qualified candidates and remains committed and on-track to appoint the new COO in Q1 2025.
The COO will oversee mining operations in an executive capacity at Florida Canyon and will play a crucial role in determining operating and cost guidance for the
mine in 2025 and beyond. The COO will also take the lead on the ongoing and future mining and production optimization studies at Florida Canyon. Several
optimization studies are underway at Florida Canyon and are expected to be completed in H1 2025. Input from the new COO on these important studies and how
they will impact future production, operating costs, and capital allocation is crucial. The COO will also assume executive level oversight of the ongoing Feasibility
Study for DeLamar, which is expected to be delivered in H1 2025.
The Company intends to provide formal 2025 operating and cost guidance following the appointment and input from the new COO. Integra will provide additional
commentary on operations at Florida Canyon and its key development projects as part of the 2024 fourth quarter and full-year operating and financial results.
Notice of 2024 Fourth Quarter & Full-Year Results
Integra intends to release its fourth quarter and full-year 2024 operating and financial results after market close on
March 26, 2025
. Integra will host a conference
call and webcast on
March 27, 2025
, at
11:00 AM, Eastern Time
/
8:00 AM Pacific Time
, to discuss the results. Details for the conference call and webcast are
included below.
Dial-In Numbers / Webcast:
Conference ID: 2435675
Toll Free: (800) 715-9871
Toll: +1 (646) 307-1963
Webcast:
https://events.q4inc.com/attendee/575602365
About Integra Resources
Integra is a growing precious metals producer in the Great Basin of the
Western United States
. Integra is focused on demonstrating profitability and operational
excellence at its principal operating asset, the Florida Canyon Mine, located in
Nevada
. In addition, Integra is committed to advancing its flagship development-
stage heap leach projects: the past producing DeLamar Project located in southwestern
Idaho
and the Nevada North Project located in western Nevada. Integra
creates sustainable value for shareholders, stakeholders, and local communities through successful mining operations, efficient project development, disciplined
capital allocation, and strategic M&A, while upholding the highest industry standards for environmental, social, and governance practices.
ON BEHALF OF THE BOARD OF DIRECTORS
George Salamis
President, CEO and Director
Forward Looking and Other Cautionary Statements
Certain information set forth in this news release contains "forward
looking statements" and "forward
looking information" within the meaning of applicable
Canadian securities legislation and applicable
United States
securities laws (referred to herein as forward
looking statements). Except for statements of historical
fact, certain information contained herein constitutes forward
looking statements which includes, but is not limited to, statements with respect to: 2025 guidance;
the price protection program and hedging strategies; 2025 production; the hiring of a COO; the future financial or operating performance of the Company and the
Company's mineral properties and project portfolio; the results from work performed to date; the estimation of mineral resources and reserves; the realization of
mineral resource and reserve estimates; the development, operational and economic results of technical reports on mineral properties referenced herein;
magnitude or quality of mineral deposits; the anticipated advancement of the Company' mineral properties and project portfolios; exploration expenditures, costs
and timing of the development of new deposits; underground exploration potential; costs and timing of future exploration; the completion and timing of future
development studies; estimates of metallurgical recovery rates; exploration prospects of mineral properties; requirements for additional capital; the future price of
metals; government regulation of mining operations; environmental risks; the timing and possible outcome of pending regulatory matters; the realization of the
expected economics of mineral properties; future growth potential of mineral properties; and future development plans.
Forward-looking statements are often identified by the use of words such as "may", "will", "could", "would", "anticipate", "believe", "expect", "intend", "potential",
"estimate", "budget", "scheduled", "plans", "planned", "forecasts", "goals" and similar expressions. Forward-looking statements are based on a number of factors
and assumptions and necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods
to differ materially from any projections of future performance or result expressed or implied by such forward
looking statements. Readers are advised to study
and consider risk factors disclosed in Integra's annual report on Form 20-F dated
March 28, 2024
for the fiscal year ended
December 31, 2023
and Florida
Canyon Gold Inc.'s listing application on TSX Venture Exchange Form 2B, each of which are available on the respective SEDAR+ issuer profiles for the Company
and Florida Canyon Gold Inc. available at
www.sedarplus.ca
.
There can be no assurance that forward
looking statements will prove to be accurate, as actual results and future events could differ materially from those
anticipated in such statements. 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. The forward-looking statements contained herein are presented for the purposes of
assisting investors in understanding the Company's plans, objectives and goals, and may not be appropriate for other purposes. Forward-looking statements are
not guarantees of future performance and the reader is cautioned not to place undue reliance on forward
looking statements.
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
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SOURCE
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For further information:
CONTACT INFORMATION: Corporate Inquiries: [email protected], Company website: www.integraresources.com, Office
phone: 1 (604) 416-0576
CO: Integra Resources Corp.
CNW 06:30e 20-FEB-25