Integra Resources Advances DeLamar Project Through Critical Permitting Milestone

• Integra Resources achieved BLM acceptance of the Mine Plan of Operations for the DeLamar Project, representing a critical milestone in the federal permitting process for one of the few active precious metals development projects in the Western United States.
• The updated MPO incorporates nearly three years of environmental baseline studies and strategic refinements, including optimized mine feature placement and integration with existing Florida Canyon Mine refining capacity to reduce processing costs and environmental impacts.
• The company has established a transformative Relationship Agreement with the Shoshone-Paiute Tribes and continues stakeholder engagement through the Programmatic Agreement process, potentially reducing operational and regulatory risks.
• DeLamar's advancement through the NEPA permitting process demonstrates significant scarcity value among Western U.S. precious metals projects, with next steps including BLM publication of Notice of Intent and Environmental Impact Statement preparation.
• The company expects to announce Feasibility Study results in the fourth quarter of 2025, providing updated economic parameters and capital requirements for the project while maintaining operational cash flow from the producing Florida Canyon Mine.

Mine Plan of Operations Acceptance Positions DeLamar for Development

Integra Resources Corp. (TSXV: ITR; NYSE American: ITRG) represents a growing precious metals producer operating in the Great Basin region of the Western United States. The company focuses on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine in Nevada, while simultaneously advancing two flagship development-stage heap leach projects: the DeLamar Project in southwestern Idaho and the Nevada North Project in western Nevada. Integra's business model centers on creating sustainable value for shareholders through successful mining operations, efficient project development, disciplined capital allocation, and strategic mergers and acquisitions.

The company has achieved a significant regulatory milestone with the United States Bureau of Land Management's (BLM) acceptance of the updated Mine Plan of Operations (MPO) for its DeLamar Project. This development represents a critical advancement in the permitting process for one of the few active gold-silver development projects progressing through the National Environmental Policy Act (NEPA) framework in the Western United States.

Regulatory Framework & Administrative Completeness

The BLM's determination that Integra's updated MPO meets the content requirements of the United States Code of Federal Regulations (CFR), Title 43 Subpart 3809, establishes the foundation for environmental review under NEPA. This administrative completeness finding follows the submission of the updated MPO earlier in 2025 and subsequent collaboration between Integra and the BLM to address regulatory comments.

The significance of this milestone extends beyond mere procedural compliance. As company leadership noted, "The BLM's determination of administrative completeness is a critical step in permitting DeLamar and considers nearly three years of environmental baseline studies, initial engineering design, and mine plan optimization." This comprehensive approach demonstrates the extensive preparation underlying the MPO submission.

The regulatory framework governing mining operations on federal lands requires detailed documentation of proposed activities, environmental considerations, and reclamation plans. Integra's successful navigation of the initial completeness review positions the project for the subsequent phases of environmental analysis and stakeholder engagement that characterize the NEPA process.

Strategic Project Refinements & Technical Optimizations

The updated MPO incorporates several material refinements from previous iterations, reflecting both regulatory feedback and operational optimization strategies. These modifications address agency comments and concerns while implementing design improvements that reduce potential environmental impacts and enhance project economics.

A key refinement involves the strategic placement of mine features on previously disturbed ground, with selective relocation of certain infrastructure to minimize potential impacts on surface and water quality. This approach demonstrates environmental stewardship while potentially reducing permitting complexity and timeline risks.

The integration of Integra's existing Florida Canyon Mine refining capacity represents a significant operational optimization. By leveraging this existing infrastructure, the company plans to "reduce ore processing activities and associated electrical power demands at DeLamar." This strategy could materially impact project capital expenditure requirements and operational costs while utilizing existing permitted facilities.

The MPO also incorporates updates from the ongoing Feasibility Study for DeLamar, which management expects to announce in the fourth quarter of 2025. This integration ensures that the regulatory submission reflects the most current technical and economic parameters, reducing the likelihood of future modifications that could delay the permitting process.

Environmental Impact Assessment & NEPA Process

The acceptance of the MPO triggers the next phase of environmental review under NEPA, beginning with the BLM's development of a project schedule and publication of a Notice of Intent (NOI). The NOI represents a formal announcement of intent to prepare an Environmental Impact Statement (EIS) and marks the commencement of formal engagement with cooperating governmental agencies and stakeholders.

The EIS process encompasses a comprehensive analysis of potential environmental effects across multiple resource categories, including air quality, water resources, wildlife habitat, land use, Native American concerns, socio-economic factors, visual resources, cultural resources, vegetation, soils, recreation, and range resources. Additionally, the assessment evaluates potential risks to human health and reasonable alternatives to minimize adverse effects and prevent environmental degradation.

President, CEO and Director George Salamis emphasized the project's positioning within this regulatory landscape:

"DeLamar is one of the few gold-silver development projects in the Western United States that will be actively advancing through the NEPA mine permitting process, demonstrating the significant scarcity value of the Project."

This scarcity value reflects both the limited number of advanced precious metals projects in the region and the complexity of successfully navigating federal permitting requirements. Projects that achieve regulatory milestones demonstrate operational capability and regulatory competence that may command premium valuations.

Concurrent Permitting Activities & Regulatory Requirements

While progressing through the NEPA process, Integra continues work on various additional permits required prior to construction. These include a groundwater Point of Compliance Permit to protect beneficial groundwater use, an Idaho Pollution Discharge Elimination System Permit for surface water discharge quality criteria, a Cyanidation Permit, an Air Quality Permit to Construct, and Section 404 Clean Water Act compliance with the U.S. Army Corps of Engineers.

This multi-track permitting approach reflects the complex regulatory environment governing mining operations while potentially reducing overall project timelines by advancing multiple approval processes simultaneously. The successful coordination of these various regulatory requirements represents a significant project management and technical challenge that could differentiate successful developers from those unable to navigate the regulatory complexity.

Stakeholder Engagement & Tribal Relations

Integra has recently established a transformative partnership through a Relationship Agreement with the Shoshone-Paiute Tribes of the Duck Valley Indian Reservation. This agreement represents a strategic approach to stakeholder engagement that could facilitate smoother permitting and operational phases.

The company continues engagement with Tribal Nations as it advances toward initiation of the Programmatic Agreement (PA) process. The PA represents a formal framework established between the company, governmental agencies, and Tribal Nations for identifying, managing, and mitigating potential impacts on culturally sensitive areas or historical sites.

Salamis highlighted the significance of this stakeholder engagement:

"This major permitting achievement, along with the recently announced Relationship Agreement with the Shoshone-Paiute Tribes, clearly demonstrate Integra's commitment to advancing DeLamar toward a production decision."

Effective stakeholder relationships can materially impact project timelines, costs, and ultimate feasibility. Companies that establish constructive relationships with local communities and tribal nations often experience fewer delays and reduced operational risks.

Project Economics & Development Timeline

The DeLamar Project encompasses the adjacent DeLamar and Florida Mountain gold and silver deposits in Owyhee County, southwestern Idaho. Since acquiring the project in 2017, Integra has demonstrated significant resource growth and conversion while providing economic studies through its maiden Preliminary Economic Assessment and Pre-feasibility Study.

The anticipated Feasibility Study results in the fourth quarter of 2025 will provide updated economic parameters, capital expenditure requirements, and operational projections. This study will likely incorporate the refinements reflected in the accepted MPO and provide investors with current economic metrics for investment evaluation.

The project's past-producing status may provide certain advantages in terms of existing infrastructure, geological understanding, and regulatory familiarity. However, current operations must meet contemporary environmental and safety standards that may differ significantly from historical practices.

Market Positioning & Competitive Landscape

The acceptance of the MPO positions DeLamar among a limited group of advanced precious metals projects progressing through federal permitting in the Western United States. This positioning could provide competitive advantages in terms of investor attention, potential strategic partnerships, and acquisition interest.

The project's location in Idaho provides access to established mining infrastructure and skilled workforce while potentially offering cost advantages compared to more remote locations. The integration with Florida Canyon Mine operations could provide additional operational synergies and cost efficiencies.

Management's commitment to "responsible mining practices, environmental protection, and serving community interests" reflects current industry standards and investor expectations regarding environmental, social, and governance (ESG) considerations. Companies demonstrating strong ESG practices may access broader capital markets and potentially command premium valuations.

Investment Implications & Risk Considerations

For investors evaluating Integra Resources, the MPO acceptance represents a significant de-risking event that validates the project's technical and regulatory viability. However, substantial permitting and development risks remain, including potential delays in the NEPA process, changes in regulatory requirements, and evolving economic conditions.

The company's diversified approach, combining production from Florida Canyon Mine with development of DeLamar and Nevada North projects, provides both operational cash flow and growth optionality. This portfolio approach may appeal to investors seeking exposure to both current production and development upside.

The anticipated Feasibility Study results will provide critical information for investment evaluation, including updated capital requirements, operational projections, and economic returns. Investors should consider the potential for capital raises to fund development activities and the dilutive impact of additional equity issuances.

Conclusion

Integra Resources has achieved a significant regulatory milestone with BLM acceptance of the DeLamar Project's Mine Plan of Operations, positioning the company among a select group of precious metals developers successfully advancing through federal permitting processes. The comprehensive approach to environmental studies, stakeholder engagement, and technical optimization demonstrates operational competence while the integration with existing Florida Canyon operations provides potential cost advantages and operational synergies.

For investors considering Integra Resources, the MPO acceptance represents meaningful project de-risking while substantial development and regulatory risks remain. The anticipated Feasibility Study results in the fourth quarter of 2025 will provide critical information for investment evaluation, while the company's diversified portfolio of producing and development assets offers both current cash flow and growth optionality. The project's scarcity value within the Western U.S. precious metals development landscape, combined with demonstrated regulatory progress and stakeholder relationships, positions Integra as a potential beneficiary of continued precious metals demand and limited new supply development.