Completion Diamond Creek Rare Earth Element Drill Program

COEUR D'ALENE, ID - Idaho Strategic Resources, Inc. reported the conclusion of its first-phase exploratory drilling on its Diamond Creek Rare Earth Elements Project; after a two-month delay of the program due to the Moose Fire. IDR completed twelve drillholes from five different pads for a total of 1,200 meters (m).

VP of Exploration, Rob Morgan, said, “I am extremely optimistic about our progress so far. As I reflect on our first full field season in central Idaho, we not only completed our first drill program at Diamond Creek we also continued sampling and mapping both the Roberts area and parts of Lemhi Pass. Beginning the drill program, we aspired for Rare Earth Element (REE) intercepts of 1-meter true thickness and with grades up to 1% total rare earth oxide (TREO). Upon completion of the program, our preliminary inspections of the drill core, using X-ray fluorescence (XRF) analysis, show encouraging results with zones exceeding 3-meter widths and potential TREO grades up to 2%. Of course, these results are not from an accredited laboratory, but it does make us eager to get the holes into the lab for results as quickly as possible. It is going to take a couple of months to properly log, sample, and assay our core, which is why we felt our stakeholders would appreciate a "you now know what we know" update.

It is apparent from looking at the core, that we had a successful test with this drill program at Diamond Creek. One drill hole completed on the Lucky Gem drill pad successfully center-punched the zone and intercepted 46 meters of brilliantly colored REE mineralization. In addition to nice concentrations of REE's, we also noted areas with higher readings of Niobium and Titanium. We are still working on what this might mean economically if it holds true with assay results.”

At Diamond Creek, the REE mineralization occurs along a 2-mile length of the Diamond Creek Fault. The project consists of four distinct areas identified as Contact, Lucky Gem, Simer, and Frank Burch. The 2022 drill program tested two of these areas; the Contact area located in the north, and the Lucky Gem area located in the north-central portion of the project. The first four drillholes were conducted from two pads in the Contact area; and the remaining eight holes were completed from three pads in the Lucky Gem area, approximately 650 m along trend to the south of Contact. Initial assumptions for the program were that mineralization was in near vertical sheeted veins, however we were pleasantly surprised as it became evident that the REE mineralization at Diamond Creek appears to be a ‘hydrothermal fracture and replacement system.

The first three exploration holes attempted to cross as many structural features in the Contact area as possible including two REE zones and the Diamond Creek Fault. Visual inspection of these holes showed moderate to strong REE replacement alterations at each anticipated interval. A fourth hole was conducted from a second pad site approximately 100 m south. This hole targeted the Diamond Creek Fault and an outlier REE zone. Again, cursory visual inspection of this hole showed surprising enrichment of REE's at the Diamond Creek Fault.

The next three holes were conducted from a pad in the Lucky Gem area. All holes encountered shallow, brightly colored, gossanous REE mineralization, and aided in defining a bedding conformable zone. Building on this information, the fourth hole was positioned in an attempt to center-punch this zone by drilling down-dip. This hole successfully intercepted 46 meters of brilliantly colored REE oxides. The last four holes targeted various directional, 25 m step-outs, from mineralization. Mineralization remains open in three directions.

Additionally, due to the delay caused by the Moose Fire, the Company was able to adapt efforts into further examining the Roberts/Mineral Hill district; and add to the expansive project portfolio in the Lemhi Pass District. In fact, after our additional field work it is apparent that the Lemhi Pass area, being well known for its abundance of REEs and recognized as the #1 Thorium district in the U.S., is really comprised of 5 distinct and identifiable ‘district-scale' project areas.

As the drill rig was moving out of Diamond Creek, the was able to cut and sample a trench along the drill pad during reclamation. This trench exposed REE mineralization for more than 30 meters of strike length.