Integra Resources Reports Strong Q3 2025 Gold Production & Record Cash Position at Florida Canyon Mine

• Integra Resources produced 20,653 ounces of gold and sold 20,265 ounces during the third quarter 2025, meeting company expectations and maintaining trajectory toward full-year production guidance.
• The company achieved its strongest financial position to date with cash balances reaching approximately $81.2 million at quarter-end, representing significant quarter-over-quarter growth supported by strong gold prices and operational performance.
• Florida Canyon deployed substantial capital during Q3 2025 across capitalized stripping activities, mining equipment enhancements, and leach pad expansion infrastructure to support long-term operational efficiency.
• The mine is undergoing a comprehensive fleet revitalization program including eight new 150-ton Caterpillar haul trucks, a new Caterpillar loader, and a new Hitachi mining shovel, with commissioning beginning in Q4 2025.
• Construction of the Phase IIIb heap leach pad continued during the quarter with commissioning expected in the fourth quarter 2025, expanding processing capacity at the operation.

Integra Resources Corp. (TSXV: ITR; NYSE American: ITRG) is a precious metals production and development company focused on the advancement of its flagship Florida Canyon Mine in Nevada and the development of its DeLamar Project in Idaho. The company operates in one of North America's premier mining jurisdictions, leveraging established infrastructure and experienced management to deliver shareholder value through operational excellence and strategic growth initiatives.

The company's third quarter 2025 operational update demonstrates continued execution at Florida Canyon while strengthening its balance sheet to record levels. For investors evaluating Integra Resources, the combination of consistent gold production, improving cash generation, and strategic capital deployment into productivity-enhancing infrastructure positions the company to capitalize on favorable gold market conditions while building operational resilience for sustained performance.

Third Quarter Production Performance

Florida Canyon achieved production of 20,653 ounces of gold during the third quarter 2025, with sales totaling 20,265 ounces. The production figures align with management expectations and support the company's trajectory toward meeting full-year 2025 production guidance. The operational consistency reflects stable ore processing and gold recovery systems functioning as designed.

Production levels benefited from multiple operational factors working in concert. Gold ounces recently placed on the Phase IIIa heap leach pad contributed to quarterly output as the leaching process advanced. Additionally, residual ounces from the legacy Phases I and II leach pads continued providing supplementary production, demonstrating the extended recovery profile characteristic of heap leach operations.

Operational improvements implemented in prior periods continued delivering results during Q3 2025. Increased solution flow rates through the leach pads enhanced gold recovery efficiency, while the carbon-in-column circuit commissioned in late 2024 supported processing throughput. These technical enhancements represent ongoing optimization efforts aimed at maximizing gold extraction from ore placed on the heap leach system.

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Financial Position Strengthens to Record Levels

Integra's cash position reached approximately $81.2 million at September 30, 2025, representing the strongest financial position in company history. The significant quarter-over-quarter increase in cash balances reflects the convergence of operational cash generation and favorable gold pricing dynamics during the period.

President, CEO and Director George Salamis stated:

"Florida Canyon continues to deliver on expectations, generating meaningful cash flow to fund crucial reinvestment into the mine, while also supporting the Company's broader growth strategy. Excellent production results from Florida Canyon combined with the strong gold price environment have allowed Integra to significantly increase its quarter-over-quarter cash balance to ~$81 million, marking the Company's strongest ever financial position."

The improved financial position provides Integra with enhanced strategic flexibility. The cash balance supports ongoing capital investment programs at Florida Canyon while maintaining capacity for broader corporate growth initiatives. This financial strength arrives as the company executes multiple capital-intensive programs designed to improve long-term operational efficiency and reduce unit costs.

Capital Deployment & Infrastructure Development

During the third quarter 2025, Integra deployed significant capital across multiple areas at Florida Canyon. Investment priorities included capitalized stripping activities to access future ore reserves, mining equipment enhancements to improve productivity, and leach pad expansion to increase processing capacity. The capital allocation strategy focuses on projects expected to deliver operational improvements and cost reductions over multi-year timeframes.

Construction of the Phase IIIb heap leach pad advanced during Q3 2025, with commissioning anticipated in the fourth quarter 2025. The expansion represents a critical infrastructure project that will provide additional leach pad capacity, enabling continued ore placement and gold production as mining operations progress. Heap leach pad capacity directly constrains production potential at oxide gold operations, making this expansion fundamental to sustaining output levels.

The leach pad construction progressed according to schedule despite the logistical and engineering complexities inherent in such projects. Successful commissioning in Q4 2025 would position Florida Canyon to maintain uninterrupted ore processing into 2026 and beyond, eliminating potential bottlenecks in the production system.

Mining Fleet Revitalization Program

Florida Canyon commenced a comprehensive mining fleet revitalization program during the third quarter, addressing both immediate operational needs and long-term strategic objectives. The program encompasses refurbishment of existing equipment currently on site alongside acquisition of new high-capacity mining assets designed to enhance productivity and reduce per-unit mining costs.

The company placed orders for eight new 150-ton Caterpillar haul trucks, representing substantial hauling capacity addition to the operation. Additionally, equipment orders included a new Caterpillar loader and a new Hitachi mining shovel. The mining shovel arrived on site during Q3 2025, with assembly, commissioning, and operational deployment scheduled for the fourth quarter 2025.

Delivery schedules for the new haul trucks extend from the fourth quarter 2025 through the first quarter 2026, reflecting lead times typical for large mining equipment procurement. The staggered delivery timeline allows for systematic integration of new assets into mining operations without overwhelming maintenance and training resources.

The fleet modernization strategy targets multiple operational improvements. New equipment delivers higher productivity through increased payload capacity, improved fuel efficiency, and enhanced reliability compared to aging assets. Refurbished existing equipment extends service life while improving performance relative to current condition. Combined, these initiatives aim to reduce reliance on expensive rental equipment that increases operating costs.

Salamis noted highlighting the multifaceted approach to operational improvement:

"During the quarter, significant capital was deployed at Florida Canyon in the areas of capitalized stripping, mining equipment enhancements, and leach pad expansion."  

Cost Structure & Operational Efficiency

The mining fleet revitalization program directly addresses cost structure optimization at Florida Canyon. Rental equipment typically carries premium pricing compared to owned assets when evaluated over extended operational periods. By expanding the owned fleet and improving equipment condition through refurbishment, Integra expects to achieve lower mining costs per ton over the coming years.

Mining productivity improvements anticipated from new equipment should reduce the total number of operating hours required to move equivalent material volumes. Higher capacity haul trucks reduce the number of loading cycles and truck movements needed to transport ore and waste rock, while more reliable equipment reduces downtime and maintenance interruptions. The new Hitachi mining shovel provides improved loading efficiency, reducing truck queuing time and optimizing the loading-hauling cycle.

These operational improvements translate to cost reductions through multiple mechanisms: lower fuel consumption per ton moved, reduced maintenance expenses on newer equipment, decreased rental costs, and improved labor productivity. While the capital investment required for fleet renewal is substantial, the company expects the long-term cost benefits to generate attractive returns on the invested capital.

Production Guidance & Forward Outlook

Integra maintained its expectation to meet 2025 gold production guidance, indicating confidence in operational performance through year-end. The guidance affirmation reflects stable production trends through Q3 2025 combined with visibility into fourth quarter performance based on current operating conditions.

Meeting annual production guidance would demonstrate operational consistency across varying seasonal and technical conditions throughout the year. For heap leach operations, production profiles can vary based on ore placement timing, solution flow rates, and gold recovery kinetics, making full-year guidance achievement a meaningful operational indicator.

The fourth quarter 2025 period represents a significant milestone timeframe for Florida Canyon. Commissioning of the Phase IIIb leach pad expansion will add processing capacity. The new Hitachi mining shovel enters operation, beginning the fleet productivity enhancement. Initial deliveries of new haul trucks commence. These concurrent developments position the operation for improved performance characteristics entering 2026.

Strategic Context for Investors

Integra's third quarter 2025 results demonstrate execution on the fundamental business model: operating Florida Canyon to generate cash flow while investing in operational improvements and maintaining strategic flexibility for growth initiatives. The record cash position of $81.2 million provides financial strength unusual for junior producers, offering downside protection and strategic optionality.

The company operates during a favorable gold price environment that amplifies cash generation from production. While gold prices fluctuate based on macroeconomic factors outside company control, Integra's improving cost structure through fleet modernization should enhance margin resilience across various price scenarios.

Capital allocation priorities balance immediate operational needs with longer-term value creation. Investments in leach pad capacity, mining fleet quality, and capitalized stripping access future ore reserves while reducing unit costs. This approach differs from pure cash accumulation strategies, reflecting management's assessment that returns on operational investment exceed alternative uses of capital at current development stage.

For Investors

Integra Resources delivered solid third quarter 2025 operational performance at Florida Canyon while achieving record financial strength. Production of 20,653 gold ounces met expectations and supports full-year guidance, demonstrating operational consistency. The cash position of approximately $81.2 million represents the strongest balance sheet in company history, providing financial flexibility during a period of significant capital investment in operational improvements.

For investors evaluating Integra Resources, several factors warrant consideration. The company generates positive cash flow from current operations, differentiating it from development-stage competitors requiring external financing. Strategic capital deployment into fleet modernization and infrastructure expansion targets sustainable cost reduction and productivity enhancement rather than short-term production maximization. The operational track record at Florida Canyon provides performance history against which to evaluate management execution capability.

The mining fleet revitalization program represents substantial capital commitment with multi-year payback expectations. Investors should assess whether anticipated cost reductions and productivity improvements justify the investment magnitude and evaluate execution risk in integrating new equipment and achieving projected performance improvements. The Phase IIIb leach pad expansion addresses a fundamental capacity constraint, though commissioning success and ramp-up performance remain to be demonstrated.

Integra's financial results for the third quarter 2025 will be released after market close on November 12, 2025, providing detailed cost metrics, cash flow analysis, and updated guidance that will enable more comprehensive financial assessment. The subsequent management conference call on November 13, 2025 will offer additional context on operational performance and strategic priorities.