Integra Resources Reveals Significant Near-Mine Oxide Gold Potential at Florida Canyon

• Integra Resources has completed approximately 13,000 meters of its 16,000-meter growth drilling program at the Florida Canyon Mine in Nevada, targeting near-surface oxide gold potential and in-situ resource expansion.
• Initial volume and grade estimates for historical mine dumps indicate a combined potential of 34 to 56 million tonnes with grades ranging from 0.11 to 0.25 grams per tonne oxide gold.
• Drilling results from the South Mine Dump show approximately 70 percent of intercepts exceed the current mine cut-off grade of 0.11 grams per tonne gold.
• Inter-pit drilling has identified significant gold mineralization between existing open pits, with top intercepts including 0.81 grams per tonne gold over 76.2 meters at the Radio Tower Extension.
• The company expects to release an updated mineral resource and reserve estimate along with a revised life-of-mine plan in the first half of 2026.

Integra Resources Corp. (TSXV: ITR; NYSE American: ITRG), a growing precious metals producer based in Vancouver, British Columbia, operates in the Great Basin region of the Western United States. The company focuses on demonstrating profitability and operational excellence at the Florida Canyon Mine in Nevada while advancing its development-stage heap leach projects, including the DeLamar Project in southwestern Idaho and the Nevada North Project in western Nevada. On October 9, 2025, Integra announced results from its 2025 growth drilling program at Florida Canyon, marking the first phase of a multi-year strategy designed to expand mineral resources and reserves, extend mine life, and enhance asset value.

For investors evaluating Integra Resources, the company's systematic approach to unlocking value from previously sub-economic material represents a tangible growth catalyst in the current elevated gold price environment. The drilling results demonstrate potential for near-term resource expansion with minimal capital investment, while the company's commitment to operational excellence at Florida Canyon provides a foundation for sustained cash generation.

Overview of the 2025 Growth Drilling Program

The 2025 growth drilling program at Florida Canyon encompasses 16,000 meters of reverse circulation and sonic drilling, with approximately 13,000 meters completed as of the announcement date. The program focuses on three distinct opportunity areas that could meaningfully impact the mine's resource base and operational flexibility.

The first opportunity targets near-surface oxide potential from historical dump material, which consists of low-grade gold-mineralized waste that was uneconomic during periods of lower gold prices. The second opportunity seeks to expand in-situ resources between existing mine open pits in "saddle" and "ridge" zones that have been sparsely drilled historically. The third component involves testing lateral extensions and conducting in-pit infill drilling to better define known mineralized zones.

George Salamis, President, CEO and Director of Integra, stated:

"We are pleased to see additional success from our 2025 near-mine oxide drilling campaign at Florida Canyon. Building on initial results released in August, we continue to see excellent gold-mineralized intercepts in both the historical dump and Inter-Pit areas, which confirm excellent grade continuity and continue to highlight the potential to grow mineral resources and extend mine life."

Historical Dump Material: Opportunity One

The Florida Canyon mine boundary contains several volumes of historically mined low-grade gold-mineralized dump material that averaged below historical mine cut-off grades. This material, placed during decades of past mining operations when gold prices ranged from $325 to $450 per ounce, was originally mined from the late 1980s through the mid-1990s when cut-off grades ranged from 0.28 to 0.34 grams per tonne gold, which is significantly higher than current operational cut-off grades.

The company identified the North Mine Dump and South Mine Dump as high-priority targets for the 2025 program. Initial drill results from both locations have successfully demonstrated near-term oxide growth potential with consistent gold grades and favorable distribution characteristics.

South Mine Dump Drill Results

Drilling at the South Mine Dump confirmed near-surface intervals of oxide gold mineralization with consistent grades. Top intercepts include 0.21 grams per tonne oxide gold over 73.2 meters in hole FCM25-0646, 0.20 grams per tonne oxide gold over 68.6 meters in hole FCM25-0652, and 0.20 grams per tonne oxide gold over 53.3 meters in hole FCM25-0647.

Notably, approximately 70 percent of drill intercepts from the South Dump exceed the current mine cut-off grade of 0.11 grams per tonne gold, which assumes a gold price of $2,000 per ounce among several other factors. The drilling program successfully confirmed gold grade continuity and distribution while collecting material for comprehensive metallurgical testing, including bottle rolls, column tests, and permeability assessments.

Preliminary Volume & Grade Estimates

Based on a combination of historical drilling and results from the 2025 program, Integra has developed preliminary volume and grade estimates for both dump areas. The North Dump contains an estimated potential volume of 19 to 32 million tonnes with a grade range of 0.11 to 0.25 grams per tonne oxide gold. The South Dump contains an estimated potential volume of 15 to 24 million tonnes with the same grade range.

Combined, the North and South Dumps represent an estimated potential volume of 34 to 56 million tonnes with grades ranging from 0.11 to 0.25 grams per tonne oxide gold. These tonnage ranges derive from an estimated mineable percentage of total dump volume calculated from three-dimensional surfaces and an approximate volume of material exceeding the current mining ore grade cut-off.

Salamis commented on the significance of these findings:

"Furthermore, the initial volume and grade estimates from the North and South Dump of ~34 - 56 million tonnes with a grade range of ~0.11 - 0.25 g/t oxide Au demonstrates the potential size and scale of the near-term life-of-mine growth opportunity at Florida Canyon."

The company emphasizes that the potential quantity and grade of the North and South Dumps are conceptual in nature. Insufficient exploration, drilling, and metallurgical heap leach recovery testing has been completed to estimate and define a Mineral Resource as defined by National Instrument 43-101, and it remains uncertain whether further exploration will result in the targets being delineated as Mineral Resources.

Inter-Pit Resource Expansion: Opportunity Two

The secondary focus of the 2025 drill program centers on gold resource expansion opportunities within saddle and ridge zones located between existing open pits. Several Inter-Pit areas remain sparsely drilled despite historical drilling demonstrating encouraging intercepts of mineralization at or near surface.

Targeted Inter-Pit areas include the Central/Radio Tower Pit Saddle, Florida Canyon Saddle, North Pit Saddle, and zones within the Radio Tower Pit itself. These areas offer significant upside gold potential directly adjacent to current and future mining phases.

Inter-Pit Drilling Results

Drilling in Inter-Pit areas confirmed broad intervals of gold mineralization with consistent grades and apparent heap leach potential. Top intercepts include 0.48 grams per tonne gold over 76.2 meters in hole FCM25-0592 at the Central/Radio Tower Saddle, which contained higher-grade intervals of 8.03 grams per tonne gold over 1.5 meters and 3.13 grams per tonne gold over 1.5 meters.

At the Radio Tower Extension, hole FCM25-0625 intercepted 0.81 grams per tonne gold over 76.2 meters, including a high-grade interval of 14.87 grams per tonne gold over 1.5 meters. At the Jasperoid Hill Pit, hole FCM25-0609 returned 0.28 grams per tonne gold over 100.6 meters, demonstrating the continuity of mineralization across broad intervals.

Approximately 16 percent of drill intercepts within the Radio Tower Pit exceed the current Radio Tower cut-off grade of 0.14 grams per tonne gold, while approximately 29 percent of drill intercepts within the remaining Inter-Pit areas exceed the current mine cut-off grade of 0.11 grams per tonne gold.

The drilling program successfully confirmed gold grade continuity and distribution within targeted zones while collecting material for metallurgical testing. Initial results support potential pit expansion, particularly between the Central and Radio Tower Pits, two of the largest areas of known gold mineralization at Florida Canyon.

Metallurgical Testing & Characterization

Metallurgical bottle roll leach tests are currently underway on material gathered from the drill program to assess potential gold recoveries and other ore characteristics. Preliminary indications suggest favorable heap leach characteristics, though comprehensive testing remains in progress.

The company notes that some reported intervals within Inter-Pit areas contain sulphide content exceeding one percent, as determined by laboratory analysis. These sulphide concentrations may impact metallurgical recoveries and are not necessarily representative of the bulk tonnage of the zone. Additionally, some reported intervals contain clay content that may impact metallurgical recoveries. Further metallurgical testing is required to accurately characterize recovery profiles for both material types.

For the historical dump material, initial results support the potential conversion into mineral resources and reserves through inclusion in an updated resource and reserve block model and mine plan. The dump material offers potential to increase future operational flexibility by providing readily available gold-mineralized material suitable for heap leaching that will not require blasting.

Strategic Implications for Florida Canyon

The drilling results underscore multiple pathways for potential resource growth at Florida Canyon. The historical dump material represents an immediate opportunity to expand mineral resources and reserves with minimal mining cost, as this material has already been mined and placed. This characteristic could potentially improve near- to medium-term ore feed without significant capital investment while reducing reliance on higher-strip in-situ material.

Salamis emphasized the strategic importance of the current gold price environment:

"We believe that aggressively pursuing low-strip, near-surface gold-mineralized material at Florida Canyon in the current gold price environment offers potential for meaningful returns for Integra shareholders."

Success within the identified Inter-Pit areas has the potential to meaningfully increase mineral resources and reserves by extending existing pit limits within the current Florida Canyon Mine Plan of Operations. The confirmation of grade continuity and distribution in these zones provides a foundation for potential pit expansion adjacent to current and future mining phases.

The company's systematic approach to exploring these opportunities reflects a disciplined strategy to maximize value from the Florida Canyon asset. By targeting material that was previously sub-economic at lower gold prices, Integra has identified a growth pathway that leverages existing infrastructure and permits while minimizing development risk.

Quality Assurance & Quality Control Procedures

Integra employed industry-standard sampling and quality control procedures throughout the drilling program. Reverse circulation samples were collected at five-foot intervals directly at the drill rig using pre-labeled bags. Samples were submitted to American Assay Laboratories in Reno, Nevada, an ISO/IEC 17025 accredited laboratory that is independent of Integra.

Sample preparation involved drying, jaw crushing to greater than 70 percent passing 2 millimeters, and pulverizing a 300-gram split to greater than 85 percent passing 75 microns. Gold analysis was performed on a 30-gram pulp using fire assay with ICP-AES finish. Samples returning greater than 10 parts per million gold were re-assayed using a gravimetric finish.

Additionally, samples with gold content greater than 0.156 parts per million underwent cyanide-soluble analysis and preg-robbing tests to assess metallurgical characteristics. Quality control protocols included the routine insertion of blank samples, certified reference materials, and field and pulp duplicates. American Assay Laboratories also inserted internal control samples and duplicates within each batch.

Timeline & Next Steps

The 2025 drill program at Florida Canyon is expected to support a mineral resource and reserve update and a revised life-of-mine plan in the first half of 2026. This timeline provides investors with a defined catalyst for reassessing the value proposition at Florida Canyon based on updated technical and economic parameters.

The company stated:

"The Company aims to formally demonstrate this growth potential in 2026 with an updated mineral resource and reserve estimate and life-of-mine plan."

The upcoming resource update will incorporate drilling data from both the historical dump material and Inter-Pit areas, along with metallurgical test results currently in progress. This comprehensive technical package should provide clarity on the economic potential of the identified growth opportunities and their impact on Florida Canyon's production profile and mine life.

Corporate Governance Update

Integra announced that Eric Tremblay has resigned from the company's Board of Directors, effective immediately. The company thanked Tremblay for his contributions to Integra's growth and wished him well in future endeavors. No immediate replacement was announced, and the timing of any board reconstitution was not disclosed.

For Investors

Integra Resources has presented a compelling case for near-term resource growth at the Florida Canyon Mine through systematic exploration of previously sub-economic material and under-explored zones between existing pits. The preliminary volume and grade estimates for historical dump material, while conceptual in nature, indicate substantial tonnage potential that could meaningfully extend mine life and enhance operational flexibility.

The company's disciplined approach to value creation, which involves targeting low-strip, near-surface material in an elevated gold price environment, aligns management incentives with shareholder returns. The anticipated mineral resource and reserve update in the first half of 2026 represents a defined catalyst that should provide clarity on the economic viability of the identified growth opportunities.

For investors evaluating Integra Resources, the Florida Canyon drilling results demonstrate management's ability to identify and systematically pursue organic growth opportunities within the existing asset base. The combination of historical dump material requiring no blasting and Inter-Pit zones adjacent to current operations suggests potential for capital-efficient resource additions. However, investors should note that substantial additional work, including comprehensive metallurgical testing and economic analysis, remains necessary before these exploration targets can be converted to mineral resources or reserves.

The company's operational track record at Florida Canyon, combined with the systematic exploration approach outlined in the 2025 drilling program, positions Integra to potentially deliver meaningful resource growth over the coming quarters. As with all exploration programs, actual results may differ materially from preliminary estimates, and investors should carefully review the company's forthcoming technical disclosures when evaluating the Florida Canyon opportunity.