INTEGRA PROVIDES OVERVIEW OF 2024 DRILL PROGRAM AT WILDCAT DEPOSIT IN NEVADA

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TSXV: ITR; NYSE American: ITRG
www.integraresources.com

VANCOUVER, BC, Dec. 12, 2024 /CNW/ - Integra Resources Corp. ("Integra" or the "Company") (TSXV: ITR) (NYSE American: ITRG) is pleased to provide results from the infill, geotechnical-metallurgical, and exploration drill program at the Wildcat Deposit ("Wildcat" or the "Deposit") located in Nevada, USA. The 2024 drill program consisted of 10 holes, totaling ~1,940 meters ("m"). The drill program was designed to gather data from the heap-leachable material within the existing mineral resource, to test the potential blind high-grade breccia targets which are believed to be the feeder source of gold ("Au") mineralization at Wildcat, and to demonstrate the continuity of mineralization.

Integra Resources Corp. Logo (CNW Group/Integra Resources Corp.)
Integra Resources Corp. Logo (CNW Group/Integra Resources Corp.)

The drill program significantly improved the team's geological, geotechnical, and metallurgical understanding of the Deposit. The infill and geo-metallurgical holes intersected mineralization and provided excellent data to support a future feasibility study. The drill program also helped to advance permitting efforts at Wildcat and provided valuable insight for future exploration programs. The exploration holes drilled, located ~200m to ~800m outside the main resource area, provide a solid indication of the presence of a potential feeder breccia pipe hidden below post-mineralization basalts. The encouraging geological interpretations from the exploration holes will guide further drilling campaigns aimed at defining the breccia pipe's geometry and potential high-grade zones.

Integra released a Preliminary Economic Assessment ("PEA") for the Nevada North Project (comprised of the Wildcat and Mountain View Deposits) in June 2023 which demonstrated the potential for a low-cost, high margin, heap leach operation with robust economics.

The Company will host a webinar on Thursday, December 12, 2024 at 8:00am PST/11:00am EST featuring a presentation from Integra's President, CEO and Director, Jason Kosec. A recording of the webinar will be available on Integra's corporate website. Attendees can register for the webinar using the following link: https://us02web.zoom.us/webinar/register/WN_0-jX_OGnTAOHtmHnHCDFIA#/registration

Highlights

  • A total of 3 infill and geo-metallurgical focused holes were drilled as part of the program. Drilling intercepted significant oxide mineralized material, confirming the excellent grade continuity at Wildcat. Drill intercepts within the 2023 PEA pit shell:

    • WCCD-0017 returned an intercept of 0.52 grams per tonne ("g/t") oxide Au over 62.5m.

    • WCCD-0018 returned an intercept of 0.38 g/t oxide Au over 64.6m.

    • WCCD-0019 returned an intercept of 0.27 g/t oxide Au over 147.5m.

    • Piezometers were installed in the drill holes to gather important data on the water table elevation at Wildcat. Demonstrating the absence of a pit lake is expected to support a simplified future permitting process.

  • A total of 7 highly prospective exploration holes were drilled materially outside the 2023 PEA pit shell and primary mineral resource area:

    • Breccia Pipe: 4 holes (totaling ~1,230m) were targeting the high-grade breccia pipe interpreted from geophysics and perceived to be located below post-mineralization basalts (step-out drilling from ~200m to ~800m north of Main Hill area). Although no significant high-grade interval was intercepted, WCCD-0016 returned 0.25 g/t non-oxide Au over 213.8m with pervasive alteration, hydrothermal brecciation, and visible Quartz veins (1-20 centimeters ("cm")). WCCD-0015 intersected lake sediments beneath post-mineralization basalts, potentially indicating that the hole is within the targeted diatreme. This was followed by an intercept of 0.22 g/t non-oxide Au over 12.2m and ended within post-mineralization felsic dykes. These dykes are believed to exploit pre-existing structures that have the potential to carry high-grade gold mineralization.

    • Rhyolite Ridge: 3 holes (totaling ~310m) were drilled to test grade extensions ~300m east of the 2023 PEA pit. The drilling encountered a thick layer of oxidized brecciated tuff mineralization. While intercepts returned low grades, drilling confirmed the presence of mineralization well outside the PEA main pit, highlighting Wildcat's significant growth potential and the potential to push the pit further to the east.

  • Wildcat currently hosts a mineral resource of 746,297 ounces ("oz") Au and 6,437,869 oz of silver ("Ag") or 829,152 oz of gold equivalent ("AuEq") in the Measured and Indicated Category ("M&I") (59,872,806 tonnes at 0.39 g/t Au and 3.34 g/t Ag) and 209,662 oz Au and 1,980,129 oz Ag or 235,146 oz AuEq in the Inferred Category ("Inf.") (22,455,848 tonnes at 0.29 g/t Au and 2.74 g/t Ag).

    • The 2023 Nevada North Project (Wildcat and Mountain View deposits) PEA demonstrated strong project economics including an after-tax Net Present Value ("NPV")5% of US$310 million and a 37% after-tax Internal Rate of Return ("IRR") using base case metal prices of US$1,700/oz Au and US$21.50/oz Ag.1

    • Using more recent metal prices of US$2,000/oz Au and US$23.00/oz Ag, the Nevada North Project delivers an after-tax NPV5% of US$490 million and a ~54% after-tax IRR.1