Multiple High Grade Drill Results From Florida Mountain Deposit

VANCOUVER - Integra Resources Corp. announced multiple high-grade drill results from the Florida Mountain Deposit in Idaho, as well as long widths of mineralization within the existing resource envelope at Florida Mountain that exceed the current grade of the Florida Mountain resource estimate.

“Yet again, we are pleased to report more high-grade gold and silver at Florida Mountain. Drilling at Florida Mountain continues to demonstrate both the high-grade resource potential below the existing resource estimate as well as further in-pit high-grade optimization potential within the 2019 resource pit shell. Long runs of high-grade within the bulk tonnage resource, as demonstrated in drill hole FME-21-115, suggest further optimization of the bulk tonnage resource is possible. In addition, the Company continues to test the high-grade vein system at depth below Florida Mountain with 10 intercepts reported today from 3 of the main vein structures. These high-grade intercepts provide further support in the evaluation of a potential high-grade, underground exploration program at Florida Mountain in the future,” said George Salamis, President and CEO. “Delineation of prospective high-grade resources at depth at Florida Mountain and the transition of these high-grade resources to a future mine plan, subject to further studies, could add to the already strong project economics demonstrated in past studies regarding open pit mining of bulk tonnage, low-grade gold and silver.”

The drill results include both broad lower-grade intercepts within the overlying felsic volcanics which fall within the 2019 Preliminary Economic Assessment (“PEA”) conceptual open pit and narrower higher-grade intercepts within the underlying granite. Together with the higher-grade intercepts from these holes, some which were reported previously, today’s results continue to demonstrate the continuity of grade within the deeper high-grade vein systems which could become the focus of a concerted underground drill program if warranted in the future. Approximately 10 of the high-grade intercepts reported today are from the three veins which comprise the Alpine Vein Zone with several additional intercepts from the Trade Dollar-Black Jack Vein Zone. The Company is of the belief that at some stage in the future, a transition to high-grade underground exploration could provide immense benefits to the overall economics of the Project. The Company has completed its drill program at War Eagle and currently has 1 drill rig in operation at the DeLamar Project testing the high-grade target below Florida Mountain.

The Pre-feasibility Study (PFS) for the DeLamar Project is on schedule to be completed in Q4 2021. As previously disclosed, the PFS will detail increased throughputs at the heap leach pad and mill. This larger scope is expected to result in a 50% or greater increase in the gold equivalent production profile over a longer time-frame relative to the 2019 PEA which showed 124,000 oz AuEq per year over 10 years.