Integra Ends Third Quarter With US$119.5 Million Cash as Florida Canyon Targets Higher-Grade Central Pit Ore

• Florida Canyon produced 17,652 ounces of gold in the third quarter, with mining rates averaging a record 97,428 tonnes per day.
• Revenue was US$72.4 million and net earnings were US$12.9 million (US$0.06 per share).
• Free cash flow was US$11.1 million, and cash reached US$119.5 million as of September 30, 2026.
• 2026 Florida Canyon production guidance is now 59,000 to 62,000 ounces, with Central Pit higher-grade ore targeted for 2027.
• DeLamar is targeting a Record of Decision in the second half of 2027, with GenCap Mining Advisory evaluating financing.

Company Overview

Integra Resources (TSXV: ITR | NYSE American: ITRG) is a precious metals producer operating in the Great Basin of the western United States. Its principal operating asset is the producing Florida Canyon Mine in Nevada, and its development pipeline comprises the past-producing DeLamar Project in southwestern Idaho and the Nevada North Project in western Nevada.

Florida Canyon Production Grows for a Second Consecutive Quarter

Integra Resources produced 17,652 ounces of gold at Florida Canyon in the third quarter of 2026 and sold 16,760 ounces at an average realized price of US$4,272 per ounce, compared with US$3,464 per ounce a year earlier. Production rose 8% from the second quarter and 40% from the first quarter of 2026.

Total mining averaged a record 97,428 tonnes per day, compared with 64,488 tonnes per day in the third quarter of 2025, and the strip ratio (waste to ore) fell to 0.68 from 1.34. Cash costs were US$2,419 per ounce sold, within revised guidance, and mine-site all-in sustaining costs (AISC) were US$3,059 per ounce sold, below revised guidance.

Financial Results & Cash Position

Revenue was US$72.4 million, up from US$70.7 million a year earlier, and mine operating earnings were US$23.3 million, down from US$28.6 million. Net earnings were US$12.9 million (US$0.06 per share), compared with a net loss of US$8.2 million, and adjusted earnings were US$12.8 million (US$0.06 per share).

Operating cash flow was US$21.8 million, after a US$15.3 million increase in working capital used, largely for inventory build, and free cash flow was US$11.1 million. Cash and cash equivalents reached US$119.5 million at September 30, 2026, from US$63.1 million at December 31, 2025, supported by a US$57.5 million bought deal completed in the first quarter of 2026 and US$5.3 million of restricted cash returned after a reduction in required cash collateral for Florida Canyon's surety bonds.

President and Chief Executive Officer George Salamis tied the treasury to the Florida Canyon investment program and the development pipeline:

"With US$119.5 million in the treasury, we're well funded to execute our strategic investments at Florida Canyon while advancing our development pipeline."

Revised 2026 Guidance & Heap Leach Management

Integra Resources revised 2026 Florida Canyon gold production guidance to 59,000 to 62,000 ounces, from 70,000 to 75,000 ounces. Mining and stacking rates were raised to maintain production from lower-grade ore while the Central Pit was stripped, and they will now be reduced for the rest of 2026 to maintain effective blending and protect long-term heap leach pad performance.

Salamis described the adjustment:

"However, leaching has not kept pace with these higher mining rates, and to protect long-term heap leach pad performance and maintain effective blending, we're reducing mining rates for the rest of the year and revising our 2026 production guidance to 59,000 to 62,000 ounces."

The lower mining rate is intended to stabilize leach rates ahead of the move into the Central Pit in 2027, where higher-grade ore is targeted to support production. Targeted investments in stripping and heap leach pad expansion aim to extend mine life and strengthen the production profile.

DeLamar Permitting & Financing Advance

The Notice of Intent for DeLamar was published on May 29, 2026, opening a 30-day public scoping period that ended in June. The company is targeting an Environmental Impact Statement and Record of Decision (RoD) in the second half of 2027 and has engaged GenCap Mining Advisory to evaluate financing alternatives ahead of a potential construction decision. A 2,000-meter development drilling program is scheduled to be completed in early fourth quarter 2026.

The feasibility study, effective December 8, 2025, outlines 1.1 million gold-equivalent ounces over a 10-year mine life, initial capital of US$389 million, and a co-product mine-site AISC of US$1,480 per gold-equivalent ounce. After-tax net present value at a 5% discount rate (NPV5%) is about US$774 million with an after-tax internal rate of return (IRR) of 46% at US$3,000 per ounce gold and US$35 per ounce silver, and after-tax NPV5% of about US$1.9 billion with an after-tax IRR of 97% at US$4,500 per ounce gold and US$65 per ounce silver.

Exploration at Florida Canyon, Wildcat & Nevada North

Florida Canyon drilling totaled 14,309 meters in the third quarter and 31,364 meters year to date, within a 42,500-meter 2026 program. Drilling between the Radio Tower and Central open pits identified a zone of gold mineralization next to existing infrastructure, and initial drilling into the northern extension of the Madre Shear zone intersected gold along a previously untested structure. At Wildcat, the Exploration Plan of Operations is fully approved, and drilling began in August 2026; at Nevada North, the company is advancing resource conversion drilling, geotechnical work, and permitting.

Next Steps

• Florida Canyon: reduced mining rates through the end of 2026, then entry into the Central Pit in 2027.
• Florida Canyon: stripping and heap leach pad expansion investments, and completion of the 42,500-meter drilling program.
• DeLamar: development drilling in early fourth quarter 2026, financing evaluation, and a RoD targeted for the second half of 2027.

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