A NEW CHAPTER
Revitalizing the DeLamar Project
DeLamar Project Overview
The DeLamar Project is a proposed gold and silver mine development project located in Owyhee County in southwest Idaho. DeLamar Mining Company, a subsidiary of Integra Resources Corp. (TSXV: ITR; NYSE American: ITRG), is advancing the Project at the historic DeLamar and Florida Mountain deposits within the broader DeLamar Mining District.
Mining in the region dates back to the 1860s, when underground gold and silver mining helped shape nearby communities such as Silver City and the surrounding Owyhee region. More recent open-pit mining operations were conducted at DeLamar and Florida Mountain from the late 1970s through 1998.
Today, the proposed Project is being advanced in an area with a long history of mining activity, including reclaimed historic mine features and ongoing environmental monitoring and water treatment systems established during prior operations. Reclamation work completed at the site following historic mining operations received national recognition for environmental reclamation efforts and continues to inform current planning for closure, reclamation, and long-term environmental management.
Integra has invested approximately $160 million into exploration, engineering, environmental studies, permitting, and Project planning to evaluate the opportunity to responsibly redevelop the site as a modern mining operation.
The Project’s Feasibility Study and associated Technical Report outline a proposed open-pit oxide heap leach operation with an estimated 10-year mine life followed by two years of residual leaching. The studies also evaluate water management, reclamation, infrastructure, environmental protection measures, operational planning, and overall Project economics.
Federal review of the proposed Project is expected to begin in 2026 under the National Environmental Policy Act (NEPA), led by the U.S. Bureau of Land Management. As part of that process, the Project’s technical, environmental, operational, and reclamation plans will undergo detailed independent review before any mining or construction activities are authorized.
Economic Highlights
Feasibility Study
A recent Feasibility Study confirmed the DeLamar Project’s potential as a long-life gold and silver mining operation with strong economics, while incorporating modern environmental planning, reclamation, and operational design.
Based on the study, the proposed DeLamar Mine is expected to operate for approximately 10 years and produce an average of 106,000 gold-equivalent ounces annually over the life of the mine, with higher production during the first five years.
The study estimates an initial capital investment of approximately $389 million and total life-of-project capital investment of approximately $747.5 million. Under base-case metal prices, the Project generated an estimated after-tax net present value of $774 million and an after-tax internal rate of return of 46%, with substantially higher values at current metal prices.
DeLamar Feasibility Study Key Results
After-Tax NPV5%
$774M
(Base Case)
$1.7B
(Current)
Initial Capital Investment
$389M
AuEq Annual Production
106koz
(LOM Avg.)
119koz
(Yr 1-5 Avg.)
After-Tax IRR
46%
(Base Case)
89%
(Current)
Total Capital Investment
$747.5M
Total AuEq Payable
1.1Moz
Base Case
$3000/oz Au
$35/oz Ag
“Current”
$4250/oz AU
$60/oz Ag
Mine Life
10 years
LOM AuEq Costs
$1,480
(All In Sustaining Cost, AISC)
The scientific and technical information relating to the DeLamar Project is supported by the technical report regarding the DeLamar Project prepared for Integra Resources Corp. and entitled “Feasibility Study and Technical Report on the DeLamar Project, Owyhee County, Idaho, USA” dated February 2, 2026, with an effective date of December 8, 2025 (the “DeLamar Report”) prepared by Barry Carlson, P.E., P.Eng., SME-RM, Deepak Malhotra, Ph.D., SME-RM, Jeffrey Bickel, CPG, Sterling (Keith) Watson, P.Eng. and Jay Nopola, P.E., P.Eng., CPG, who are each a “qualified person” and independent of Integra within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Reference should be made to the full text of the DeLamar Report, which is available under Integra’s SEDAR+ profile at www.sedarplus.ca and EDGAR profile at www.sec.gov.
Revitalizing a Previously Disturbed Site
The DeLamar Project is being proposed within a historic mining district where underground and open-pit mining activity occurred over multiple generations, including modern operations that continued through 1998. Much of the Project area has already been impacted by historic mining activity, including legacy pits, waste rock storage areas, haul roads, and other previously disturbed ground associated with earlier operations.
Following the closure of historic mining operations, the site entered long-term reclamation, monitoring, and care and maintenance activities, including ongoing water treatment and environmental oversight that continue today. Existing reclaimed mine features, environmental monitoring systems, and previously developed infrastructure corridors have helped inform current Project planning and ongoing efforts to reduce potential new disturbance where feasible.
