New Discovery - Gold Veins In First Drilling At Murray Gold Belt Outside Of the Golden Chest

COEUR D'ALENE, ID - Idaho Strategic Resources, Inc. reported the start of exploratory core drilling within its significant land holdings in the Murray Gold Belt (MGB), just west of IDR's Golden Chest Mine. IDR's private land position in the MGB covers over 1,500 acres and is complimented by over 5,000 acres of unpatented mineral claims adjacent and nearby.

President and CEO, John Swallow, said, "We have long believed that the Murray Gold Belt stands as one of the last great undeveloped patented/private land holdings in the western US, and the process of testing our thesis has begun. The Company targeted these lands because of large-scale faults and the associated gold-quartz vein occurrences, with many of the known gold-bearing structures projected to intersect within our property package (and its proximity to the Golden Chest). And I have personally had an interest in the gold potential of the MGB for decades.

The Argus, as we call it, is a new discovery in a considerably larger land package where the ownership situation over the last 120 years prevented modern and professional exploration to occur, let alone conduct targeted core drilling operations. Much of the area was originally owned/assembled by members of the Guggenheim family in the early 1900's and was not open to modern exploration until largely re-assembled/purchased by IDR over the last 4-5 years."

IDR moved the Company-owned drill rig into the Argus area of the MGB about four weeks ago as part of an initial 4-hole program in this location. Approximately 578 meters of core drilling has been cut to date with the first hole, AG22-1, intersecting moderate amounts of quartz veining before encountering a large fault zone. The second drill hole, AG22-2, encountered 49 meters of quartz veining with silica-flooded zones above a series of granitic and lamprophyric dikes. The third drill hole AG22-3 followed up on the intercepts found in the second hole. This hole also displayed quartz veining with silica-flooded zones above a series of granitic and lamprophyric dikes. The style of mineralization found in all the holes appears to be similar to that found at the Golden Chest - such as banded quartz veins, often brecciated with visible gold, galena and chalcopyrite and/or demonstrating large intervals of low-grade gold having bulk-mineable potential. Recent Argus mapping, trenching, and drilling has already shown that there are more igneous intrusive rocks than have ever been previously recognized in the MGB.

The latest intercept highlights below are reported in grams of gold per tonne (g/t) and in drill thickness, as vein orientations have yet to be determined. AG 22-1 - 1.0 g/t gold over 0.54 meters (m) from 19.36 to 19.9 m; AG 22-2 - 0.566 g/t gold over 24 m from 99.0 m to 123.0 m including the following higher-grade intervals: 1.09 gpt gold over 2.7 m from 107.5 to 110.2 m; 2.08 gpt gold over 2.2 m from 113.7 to 115.9 m; and 9.19 g/t gold over 0.6 m from 134.4 to 135.0 m including a 20 cm vein assaying 22.2 g/t Au.

The Argus discovery reinforces managements vision for a central mill fed by the many satellite gold deposits of the MGB. The final and fourth hole at the Argus has been drilled and the drill is moving to other MGB targets such as Evans, Ida, and Badger. The Company is excited to be testing these future targets and have long been intrigued by the Evans prospect due to its gold and telluride bearing intrusive dike with gold grades between 5-8 gpt on the surface.