• Exploration drilling underway on the Black Sheep goal and Florida Mountain Deposit, marking the primary winter exploration program on the DeLamar Mission.
• The 2021 exploration drill program at DeLamar will complete 10,000 meters (“m”), together with follow-up drilling on the profitable 2020 high-grade drill program at Florida Mountain and Warfare Eagle, in addition to low-grade, heap-leachable extension drilling at Florida Mountain primarily to the east and west of the prevailing useful resource envelope. Henrietta Ridge, the un-tested northern extension of the DeLamar useful resource, in addition to choose targets within the Black Sheep space will even be drilled this yr.
• The Firm’s Pre-feasibility Examine (“PFS”) is on-schedule for supply in This fall 2021. As a part of this PFS, Integra has undertaken a number of trade-off research aimed toward recovering extra silver (“Ag”) than was contemplated within the 2019 Preliminary Financial Evaluation (“PEA”). These research embrace:
  • Elevated mill measurement to recuperate extra silver: Historic mill recoveries for silver at DeLamar had been between 75% and 80%, considerably increased than the silver recoveries within the Firm’s PEA which centered extra on heap-leaching (27,000 tonnes per day) than milling (2,000 tonnes per day). The DeLamar Mission has a big silver useful resource of 116,514,000 ozs of silver (172,365,000 tonnes grading 21 g/t Ag) within the Measured and Indicated class and 12,240,000 ozs of silver (28,266,000 tonnes grading 13.5 g/t Ag) within the Inferred class.
  • Different processing choices to extend potential mill measurement and silver restoration: The Firm is finding out the potential of processing extra oxide and transitional materials in a mill via agitated leach strategies in addition to Excessive Stress Grinding Rolls (“HPGR”) as a pre-cursor to heap leaching, each of that are designed to enhance silver and gold recoveries.
• The Firm has continued an in depth metallurgical testwork program at DeLamar and Florida Mountain, together with:
  • 19 column leach checks on oxide and transitional materials from Florida Mountain
  • 7 variability composites for unoxide materials from Florida Mountain
  • 44 variability composites deliberate on oxide and transitional materials from DeLamar
  • 10-15 variability composites on unoxide materials from DeLamar

VANCOUVER, British Columbia, Jan. 21, 2021 (GLOBE NEWSWIRE) — Integra Assets Corp. (“Integra” or the “Firm”) (TSX-V:ITR; NYSE American: ITRG) is happy to announce exploration plans for 2021 on the DeLamar Mission (“DeLamar” or the “Mission”) situated in Owyhee County in southwest Idaho together with an replace on the PFS and varied trade-off research presently being thought of by the Firm for the PFS in This fall 2021.

“This yr shall be pivotal for Integra as we proceed to develop the gold-silver useful resource on the Mission via exploration drilling whereas getting ready to ship a PFS in This fall 2021. The Firm appears to be like ahead to following-up on its drill success at Florida Mountain and Warfare Eagle in addition to the primary exploration program at Black Sheep which has the potential for a brand new discovery on the DeLamar Mission. The winter drill program on the Mission is presently underway with on drill rig on the Fortunate Days goal located within the Black Sheep space and one drill rig on the Florida Mountain Deposit,” famous Firm President and CEO George Salamis. “In anticipation of the Firm’s PFS in This fall 2021, we’re conducting varied trade-off research to unlock extra worth at DeLamar via, amongst different initiatives, elevated silver recoveries. The DeLamar and Florida Mountain Deposits are host to vital silver assets, along with gold, making the Mission one of many largest undeveloped silver-gold assets within the Western United States. Within the 2019 PEA, silver accounted for less than 17% of the estimated mission revenues because the examine was optimized for gold-and-silver costs at the moment. The low silver income relative to gold income was largely associated to 2 components: low heap leach recoveries of silver averaging 34% over life-of-mine and a smaller milling situation of two,000 tonnes per day which might recuperate on common 80% silver over life-of-mine. Given the massive silver endowment at DeLamar, the Firm can also be reviewing various eventualities to extend silver restoration, together with a bigger milling operation designed to accommodate oxide and transitional materials to be processed by way of agitated leach and HPGR as a pre-cursor to heap leaching. Growing silver recoveries may have a materially constructive impact on the mission’s future economics.”

DeLamar and Florida Mountain Silver and Gold Useful resource Estimate:

The next desk highlights the mixed gold and silver useful resource on the DeLamar and Florida Mountain Deposits:

1. Mineral Assets that aren’t Mineral Reserves would not have demonstrated financial viability.
2. Oxidized and Transitional Mineral Assets are reported at a 0.2 g AuEq/t cut-off in consideration of potential open-pit mining and heap-leach processing. Unoxidized Mineral Assets are reported at a 0.3 g AuEq/t cut-off in consideration of potential open pit mining a milling / agitated leaching or flotation processing. The Mineral Assets are constrained by pit optimizations.
3. Gold equal within the Useful resource Estimate is calculated by g Au/t + (g Ag/t ÷ 77.7). Steel costs used had been US$1,400 per oz Au / US$18 per oz Ag. Please discuss with the technical report for steering on modeling and optimization parameters.
4. Rounding as required by reporting pointers could lead to obvious discrepancies between tonnes, grades, and contained steel content material.
5. The Efficient Date of the Mineral Assets is Might 1, 2019.
6. The estimate of mineral assets could also be materially affected by geology, setting, allowing, authorized, title, taxation, sociopolitical, advertising and marketing, or different related points.

Present Pre-feasibility Stage Research Geared toward Enhanced Silver Recoveries:

A number of key trade-off research are presently under-way, aimed to outline the cost-benefit of upper steel recoveries, particularly silver, in future growth eventualities at DeLamar.

Latest metallurgical testwork because the 2019 PEA is being analyzed for alternatives to enhance silver restoration. A deeper analysis into the scale sensitivity of each gold and silver restoration is underway, to be included on this yr’s PFS. This contains consideration of HPGR know-how within the closing stage of the crushing circuit for the heap leach course of and/or implementation of a bigger milling and agitated leach circuit for increased grade transitional mineralization, each of which might successfully produce finer crushed materials with enhanced silver restoration potential.

Processing extra transitional mineralization via a mill circuit may probably yield better general steel restoration, together with silver, than via placement of crushed materials on the leach pad.

Florida Mountain unoxidized materials is processed via the prevailing milling situation within the PEA. Testwork has proven that the unoxidized materials from Florida Mountain is amenable to gravity focus, adopted by flotation of the gravity tails, with regrinding and agitated cyanide leaching of the flotation focus. Mill recoveries on this materials within the PEA had been 90% for gold and 80% for silver with a comparatively course grind measurement of 212 µm. The Firm is finishing extra testwork on the DeLamar unoxidized mineralization which was not included within the PEA. This testwork contains varied pre-cyanidation remedies choices, together with tremendous grinding and pre-aeration, and shall be reevaluated with present steel costs and higher outlined prices.

A diagram that highlights various new trade-off research which have been initiated to research increased recoveries from increased grade transitional and oxide supplies may be seen via the hyperlink under:

https://www.integraresources.com/site/assets/files/2572/itr_flowchart_trade_offs.pdf

The Firm will present updates and steering on how these trade-off research are progressing over the course of the yr.

2021 Exploration Program

The Firm has plans for a ten,000 m exploration program in 2021. The drill program will deal with the next areas:

The Florida Mountain Deposit: 4,000 m:

One among two exploration drill rigs on the Mission will function at Florida Mountain via the winter months. Drilling at Florida Mountain shall be dual-focused, together with follow-up exploration on the high-grade shoots and buildings under the prevailing useful resource and increasing the prevailing low-grade useful resource via drilling geochemical and geophysical anomalies to the east and west of the prevailing useful resource.

The Firm has recognized a number of high-grade gold-silver shoots at Florida Mountain. Integra’s exploration workforce has modeled 7 high-grade vein buildings that seem comparable in measurement and orientation to the traditionally productive high-grade Commerce Greenback – Black Jack vein system. Most historic underground manufacturing stemmed from the Commerce Greenback – Black Jack vein, whereas the remaining 6 veins noticed restricted manufacturing up till mining operations ceased with the beginning of World Warfare I. The recognized vein zones have an combination strike size of over 7,000 m. Inside these vein zones are steeply dipping high-grade shoots with strike lengths of as much as 200 m and down dip extensions of as much as 300 m that are interpreted as having developed at structural intersections. Primarily based on current drill intercepts, the Firm anticipates that the high-grade shoots are more likely to have widths of between 1 m and eight m.

Drilling can also be deliberate to happen within the Florida Keys space, a big geochemical anomaly situated instantly to the east of the useful resource that has seen restricted drilling. The Florida Keys geochemical anomaly is of comparable power and measurement to the prevailing useful resource estimate footprint on the Florida Mountain Deposit. The Firm additionally intends to drill in Wealthy Gulch, a goal situated in a big zone of Induced Polarization (“IP”) chargeability that was recognized to the west of Florida Mountain as a part of a 2020 geophysical survey. Primarily based on restricted historic drilling and the presence of historic underground workings on this space the Firm sees potential for each extra low-grade and high-grade underground mineralization.

To view a map of Florida Mountain with competed and proposed drill holes, click on right here:

https://www.integraresources.com/site/assets/files/2572/florida_mountain_drill_map_vuse.pdf

To view a picture of Wealthy Gulch, click on right here:

https://www.integraresources.com/site/assets/files/2572/rich_gulch_vuse.pdf

Warfare Eagle Mountain: 2,000 m

In the course of the 2019 and 2020 drill applications at Warfare Eagle, the Firm intersected high-grade gold-silver mineralization inside the volcanic unit overlying your entire space. In 2020, the Firm recognized a second high-grade shoot 400 m to the north of the 2019 drill holes. This second construction is interpreted over a strike size of roughly 550 m south-southeast and is basically untested. The geochemical soil anomaly that led the Firm to this new construction is interpreted as being lateral leakage outward alongside the bottom of the latite circulate, presumably emanating from the jap most construction recognized within the 2020 drill program.

Drilling in 2021 will proceed to check these parallel buildings at Warfare Eagle. As well as, the Firm plans on finishing an in depth IP program to generate targets inside a big geochemical anomaly to the east of the 2019 and 2020 drill holes places.

To view a map of Warfare Eagle, click on right here:

https://www.integraresources.com/site/assets/files/2572/war_eagle_geology_vuse.pdf

Black Sheep and DeLamar (Henrietta Ridge): 4,000 m

Exploration drilling at Black Sheep is underway with one drill rig anticipated to function via the winter months. The drill marketing campaign at Black Sheep will deal with the Georgianna and Fortunate Days targets. Black Sheep is host to in depth areas of sinter and opaline silica lower by high-level epithermal veining and brecciation. As a result of shallow degree of abrasion at Black Sheep, very restricted exploration drilling accomplished by earlier operators was proven to be too shallow to correctly consider the potential for high-grade vein type mineralization.

Two shallow drill holes have been accomplished on the Georgianna goal to raised outline the buildings controlling mineralization. Deeper, follow-up drill holes are deliberate on the Georgianna goal for this yr to check the productive zone at roughly 200 m under the present floor.

To view a picture of this IP anomaly at Black Sheep, click on right here:

https://www.integraresources.com/site/assets/files/2572/black_sheep_ip_vuse.pdf

The Firm additionally plans on drilling the Henrietta Ridge goal in 2021. Henrietta Ridge is situated between the DeLamar Deposit and the Black Sheep space. Historic drilling accomplished by earlier operators together with geophysical surveys recommend mineralization from the DeLamar Deposit extends alongside a northwest hall from the present useful resource via Henrietta Ridge.

Certified Particular person

The scientific and technical info contained on this information launch has been reviewed and accredited by E. Max Baker Ph.D. (F.AusIMM), Integra’s Vice President Exploration, and Timothy D. Arnold (PE, SME), Integra’s Chief Working Officer, each of of Reno, Nevada. Every is a “Certified Particular person” (“QP”) as outlined in Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives.

About Integra Assets

Integra is a development-stage mining firm centered on the exploration and de-risking of the previous producing DeLamar Gold-Silver Mission in Idaho, USA. Integra is led by the administration workforce from Integra Gold Corp. which efficiently grew, developed and bought the Lamaque Mission, in Quebec, for C$600 M in 2017. Since buying the DeLamar Mission, which incorporates the adjoining DeLamar and Florida Mountain gold and silver Deposits, in late 2017, the Firm has demonstrated vital useful resource development and conversion whereas offering a sturdy financial examine in its maiden Preliminary Financial Evaluation. The Firm is presently centered on useful resource development via brownfield and greenfield exploration and the beginning of Pre-feasibility degree research designed to advance the DeLamar Mission in the direction of a possible building determination. For extra info, please reference the “Technical Report and Preliminary Financial Evaluation for the DeLamar and Florida Mountain Gold – Silver Mission, Owyhee County, Idaho, USA (October 22, 2019).”

ON BEHALF OF THE BOARD OF DIRECTORS

George Salamis
President, CEO and Director

CONTACT INFORMATION

Company Inquiries: ir@integraresources.com
Firm web site: www.integraresources.com
Workplace telephone: 1 (604) 416-0576

Ahead wanting and different cautionary statements

This information launch accommodates “forward-looking info” and “forward-looking statements” (collectively, “forward-looking statements”) inside the that means of the relevant Canadian securities laws. All statements, apart from statements of historic truth, are forward-looking statements and are primarily based on expectations, estimates and projections as on the date of this information launch. Any assertion that includes dialogue with respect to predictions, expectations, beliefs, plans, projections, targets, assumptions, future occasions or efficiency (usually, however not all the time utilizing phrases resembling “plans”, “expects”, “is anticipated”, “finances”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (together with damaging variations) of such phrases and phrases, or state that sure actions, occasions or outcomes “could”, “may”, “would”, “would possibly” or “will” be taken, happen or be achieved) usually are not statements of historic truth and could also be forward-looking statements. On this information launch, forward-looking statements relate, amongst different issues, to: statements concerning the estimation of mineral assets; magnitude or high quality of mineral deposits; anticipated development of mineral properties or applications; future operations; future exploration prospects; the completion and timing of mineral useful resource estimates and PEA; future development potential of Integra; and future growth plans.

These forward-looking statements, and any assumptions upon which they’re primarily based, are made in good religion and replicate our present judgment relating to the route of our enterprise. Administration believes that these assumptions are cheap. Ahead-looking info includes recognized and unknown dangers, uncertainties and different components which can trigger the precise outcomes, efficiency or achievements of the Firm to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by the forward-looking info. Such components embrace, amongst others: dangers associated to the speculative nature of the Firm’s enterprise; the Firm’s formative stage of growth; the Firm’s monetary place; doable variations in mineralization, grade or restoration charges; precise outcomes of present exploration actions; precise outcomes of reclamation actions; conclusions of future financial evaluations; enterprise integration dangers; fluctuations basically macroeconomic circumstances; fluctuations in securities markets; fluctuations in spot and ahead costs of gold, silver, base metals or sure different commodities; fluctuations in foreign money markets (such because the Canadian greenback to United States greenback trade fee); change in nationwide and native authorities, laws, taxation, controls laws and political or financial developments; dangers and hazards related to the enterprise of mineral exploration, growth and mining (together with environmental hazards, industrial accidents, uncommon or surprising formation pressures, cave-ins and flooding); lack of ability to acquire ample insurance coverage to cowl dangers and hazards; the presence of legal guidelines and laws which will impose restrictions on mining; worker relations; relationships with and claims by native communities and indigenous populations; availability of accelerating prices related to mining inputs and labour; the speculative nature of mineral exploration and growth (together with the dangers of acquiring obligatory licenses, permits and approvals from authorities authorities); and title to properties. Though the forward-looking statements contained on this information launch are primarily based upon what administration of Integra believes, or believed on the time, to be cheap assumptions, Integra can’t guarantee its shareholders that precise outcomes shall be in line with such forward-looking statements, as there could also be different components that trigger outcomes to not be anticipated, estimated or meant.

Ahead-looking statements contained herein are made as of the date of this information launch and the Firm disclaims any obligation to replace any forward-looking statements, whether or not on account of new info, future occasions or outcomes, besides as could also be required by relevant securities legal guidelines. There may be no assurance that forward-looking info will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, readers mustn’t place undue reliance on forward-looking info.

Cautionary Be aware to U.S. Buyers Regarding Estimates of Measured, Indicated and Inferred Assets

The phrases “mineral useful resource”, “measured mineral useful resource”, “indicated mineral useful resource”, “inferred mineral useful resource” used herein are Canadian mining phrases utilized in accordance with Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives (“NI 43-101”) beneath the rules set out within the Canadian Institute of Mining and Metallurgy and Petroleum (the “CIM”) Requirements on Mineral Assets and Mineral Reserves, adopted by the CIM Council, as could also be amended on occasion (the “CIM Definition Requirements”). Inferred mineral assets’ have a large amount of uncertainty as to their existence, and as to their financial and authorized feasibility. It can’t be assumed that every one or any a part of an inferred mineral useful resource will ever be upgraded to the next class. These definitions differ from the definitions in the US Securities and Change Fee (the “SEC”) Business Information 7 (“Business Information 7”). United States buyers are cautioned to not assume that every one or any a part of measured or indicated mineral assets will ever be transformed into mineral reserves. United States buyers are additionally cautioned to not assume that every one or any a part of an inferred mineral useful resource exists, or is economically or legally mineable.  

Beneath Business Information 7, a mineral reserve is outlined as part of a mineral deposit which may very well be economically and legally extracted or produced on the time the mineral reserve dedication is made. Whereas the phrases “mineral useful resource”, “measured mineral useful resource”, “indicated mineral useful resource”, and “inferred mineral useful resource” are acknowledged and required by Canadian laws, they aren’t outlined phrases beneath Business Information 7 and traditionally they haven’t been permitted for use in experiences and registration statements filed with the SEC. As such, info contained herein regarding descriptions of mineralization and assets beneath Canadian requirements is probably not corresponding to comparable info made public beneath Business Information 7 by U.S. firms in SEC filings.

Neither the TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this launch.