Idaho Strategic Resources Provides Exploration Update Including High-Grade Gold Intercepts at Its Producing Golden Chest Mine

Drilling across four veins near existing mine infrastructure will feed future mine planning and resource estimates.

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Jumbo Vein drilling highlighted by drill hole GC 26-433, which returned 16.3 grams per tonne (gpt) gold over 4 meters (m), including 48 gpt gold over 1.3 m, reported in estimated true thickness

Paymaster drilling highlighted by drill hole GC 26-395, which returned 14.7 gpt gold over 2.1 m, including 44.3 gpt gold over 0.7 m, reported in estimated true thickness

COEUR D’ALENE, Idaho--(BUSINESS WIRE)-- Idaho Strategic Resources, Inc. (NYSE American: IDR) (“IDR”, “Idaho Strategic” or the “Company”) is pleased to provide an exploration update and highlights from its ongoing 2026 drill programs at its producing Golden Chest Mine.

The figure above shows the traces of the drill holes highlighted in this press release relative to the existing underground workings at the Golden Chest Mine. Both the Jumbo Vein (top) and Paymaster Vein (bottom) are shown in blue. The vein shapes are estimates based on current geologic inputs and software interpretations and will vary as more data is collected.

Idaho Strategic Resources’ President and CEO, John Swallow, commented, “These results underscore our continued investment in near-mine exploration at the Golden Chest Mine. For most of the year we’ve maintained two drills turning on site, targeting resource expansion and infill in both the Jumbo Vein and the Paymaster Vein. These two areas are expected to be important contributors to production as we plan for future growth and transition milling operations to the Murray Mill in early 2027. In addition to our two primary target areas — the Jumbo and Paymaster Veins — additional high-grade gold was intercepted in both the Bush and Idaho Veins, which will continue to see follow-up drilling throughout the remainder of the year.

"Given the success of our near-mine exploration programs, we have made the decision to add a third drill rig at the Golden Chest Mine to pull forward information for 2027 mine planning purposes. The commissioning of the third drill rig, which is already on site, is beginning with an initial 12-hour single shift schedule that is expected to increase subject to staffing by our drill contractor. The addition of the third drill rig is not expected to impact our plans to test the broader Murray Gold Belt, with initial drilling of the Niagara copper-silver deposit expected to commence in early October, using a second drill contractor.”

The high-grade results below are from IDR’s two primary targets, the Paymaster and Jumbo Veins, and two secondary targets, the Bush and Idaho Veins. All four targets are located near existing mine infrastructure and will be factored into mine planning and resource estimates in the future. All results below are reported in grams of gold per tonne and estimated true thickness.

Jumbo Vein:
Hole	Target	From (m)	To (m)	True Thickness (m)	Gold Assay (gpt)
GC 26-431	Jumbo Vein	47.1	59.5	8.3	6.3
	includes	52.8	54.6	1.2	19.0
	and	54.6	55.8	0.8	18.2
GC 26-433	Jumbo Vein	56.0	62.7	4.0	16.3
	includes	59.0	60.7	1.3	48.0
GC 26-434	Jumbo Vein	55.0	57.6	2.4	6.7
	includes	55.7	56.7	1.0	11.7
GC 26-435	Jumbo Vein	44.7	46.3	1.4	8.1
	includes	45.4	45.8	0.3	35.2
	Jumbo Vein	48.5	50.2	1.5	8.5
	includes	49.3	49.6	0.2	55.2
GC 26-437	Jumbo Vein	16.8	20.1	3.3	11.5
	includes	18.8	19.2	0.4	90.9
GC 26-441	Jumbo Vein	23.0	29.1	4.6	4.3
	includes	23.0	23.7	0.7	13.0
	and	24.5	25.4	0.7	13.5
GC 26-442	Jumbo Vein	30.2	34.0	2.3	7.9
	includes	33.4	34.0	0.4	24.3
GC 26-443	Jumbo Vein	54.3	58.2	1.8	22.9
	includes	56.9	58.1	0.5	68.8
GC 26-444	Jumbo Vein	61.0	63.8	1.2	13.7
	includes	61.5	63.4	0.8	17.0
GC 26-445	Jumbo Vein	48.4	50.3	1.4	12.2
	includes	49.9	50.3	0.3	47.9
GC 26-448T	Jumbo Vein	48.4	50.3	1.0	20.4
	includes	48.4	49.9	0.7	26.2
GC 26-450	Jumbo Vein	110.9	113.3	2.0	17.5
	includes	111.5	111.7	0.2	99.7
	and	111.9	112.6	0.6	29.2
Paymaster Vein:
Hole	Target	From (m)	To (m)	True Thickness (m)	Gold Assay (gpt)
GC 26-382	Paymaster	298.8	300.0	1.1	11.3
GC 26-383	Paymaster	295.0	298.3	3.3	7.4
	includes	296.5	298.2	1.7	13.8
GC 26-384	Paymaster	286.9	289.0	2.0	8.6
	includes	287.4	288.5	1.1	15.7
GC 26-387	Paymaster	313.1	315.4	2.3	4.6
	includes	315.1	315.4	0.3	30.6
GC 26-395	Paymaster	321.0	323.6	2.1	14.7
	includes	321.0	321.8	0.7	44.3
GC 26-407	Paymaster	322.4	323.3	0.8	19.2
GC 26-408	Paymaster	323.7	326.4	1.9	13.7
	includes	325.3	326.4	0.8	34.5
GC 26-410	Paymaster	337.0	339.5	1.9	12.0
	Paymaster	356.3	358.4	1.6	13.3
	includes	356.4	357.0	0.4	47.2
GC 26-411	Paymaster	310.3	312.7	2.0	5.4
	includes	312.2	312.7	0.4	23.7
Bush Vein:
Hole	Target	From (m)	To (m)	True Thickness (m)	Gold Assay (gpt)
GC 26-445	Bush	62.1	69.5	5.3	8.5
	includes	62.9	63.3	0.3	54.9
	and	66.8	68.1	0.9	20.7
GC 26-446	Bush	64.7	68.6	2.0	4.5
	includes	67.7	68.6	0.5	18.2
GC 26-449	Bush	107.3	114.2	5.7	6.3
	includes	109.7	110.6	0.7	41.8
Idaho Vein:
Hole	Target	From (m)	To (m)	True Thickness (m)	Gold Assay (gpt)
GC 26-431	Idaho Vein	69.3	73.9	3.0	7.3
	includes	71.0	71.5	0.3	18.5
	and	72.8	73.9	0.7	17.7
GC 26-433	Idaho Vein	71.5	74.8	2.5	4.6
	includes	74.2	74.8	0.5	19.8
GC 26-438	Idaho Vein	48.1	49.9	1.4	9.5
	includes	48.1	48.4	0.2	28.2

John Swallow concluded, “Our commitment to our production-backed exploration business plan has continued to yield positive results and reinforce our belief that the Golden Chest Mine and broader Murray Gold Belt are underexplored opportunities within the Coeur d’Alene Mining District that share many characteristics and high-upside potential with the nearby Silver Valley immediately to the south. Through the third quarter, we have completed approximately 25,500 meters of drilling at the Golden Chest Mine and are on pace for our highest total meterage drilled in a single year in company history. As always, we will continue to be success-based in our exploration decision-making and disciplined in our approach.”

Qualified Person and QA/QC

IDR's Vice President, Grant A. Brackebusch, P.E., is a qualified person as such term is defined under S-K 1300 and has reviewed and approved the technical information and data included in this press release. The Company’s QA/QC program includes the insertion of blanks, certified reference materials, and duplicates to ensure analytical accuracy, with results reviewed by a Qualified Person. Drill core samples from the Golden Chest Mine are analyzed by American Analytical Services, Inc., an ISO 17025-accredited laboratory in Osburn, Idaho, using 30-gram fire assay with a gravimetric finish.

About Idaho Strategic Resources, Inc.

Idaho Strategic Resources (IDR) is an Idaho-based gold producer that also controls the largest rare earth elements land package in the United States. The Company’s production-backed exploration business plan was established in anticipation of today’s volatile geopolitical and macroeconomic environment. In addition to gold and gold production, the Company has built a substantial land position in Idaho, providing significant exploration exposure to gold and rare earth elements – in addition to thorium, copper, and silver. IDR finds itself in a unique position as the only publicly traded company with growing gold production and significant blue-sky potential for discovery and development in one company.

For more information on Idaho Strategic Resources, visit www.idahostrategic.com or call:

Travis Swallow, Investor Relations & Corporate Development
Email: tswallow@idahostrategic.com
Phone: (208) 625-9001

Forward Looking Statements

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that are intended to be covered by the safe harbor created by such sections. Often, but not always, forward-looking information can be identified by forward-looking words such as “intends”, “potential”, “believe”, “plans”, “expects”, “may”, “goal", “assume”, “estimate”, “anticipate”, and “will” or similar words suggesting future outcomes, or other expectations, beliefs, assumptions, intentions, or statements about future events or performance. Forward-looking information includes, but is not limited to, the potential for continued exploration success at the Golden Chest Mine and in the broader Murray Gold Belt, the potential for the Jumbo, Paymaster, Bush, and Idaho Veins to contribute to future production and resource estimates, the potential to add a third drill rig at the Golden Chest Mine, the potential for initial drilling at the Niagara copper-silver deposit to commence as planned, and the potential to transition milling operations to the Murray Mill in early 2027. Forward-looking information is based on the opinions and estimates of Idaho Strategic Resources as of the date such information is provided and is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of IDR to be materially different from those expressed or implied by such forward-looking information. Investors should note that IDR’s claim as the largest rare earth elements landholder in the U.S. is based on the Company’s internal review of publicly available information regarding the rare earth landholdings of select companies within the U.S., which IDR is aware of. Investors are encouraged not to rely on IDR’s claim as the largest rare earth elements landholder in the U.S. while making investment decisions. The forward-looking statement information above, and that which follows, is applicable to both this press release and the links contained within this press release. With respect to the business of Idaho Strategic Resources, these risks and uncertainties include risks relating to widespread epidemics or pandemic outbreaks; interpretations or reinterpretations of geologic information; the accuracy of historic estimates; unfavorable exploration results; inability to obtain permits required for future exploration, development or production; general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices; the ability to obtain necessary future financing on acceptable terms; the ability to operate the Company’s projects; and risks associated with the mining industry such as economic factors (including future commodity prices, and energy prices), ground conditions, failure of plant, equipment, processes and transportation services to operate as anticipated, environmental risks, government regulation, actual results of current exploration and production activities, possible variations in ore grade or recovery rates, permitting timelines, capital and construction expenditures, reclamation activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Readers are cautioned not to place undue reliance on such information. Additional information regarding the factors that may cause actual results to differ materially from this forward-looking information is available in Idaho Strategic Resources filings with the SEC on EDGAR. IDR does not undertake any obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261001256494/en/

Travis Swallow, Investor Relations & Corporate Development
Email: tswallow@idahostrategic.com
Phone: (208) 625-9001

Source: Idaho Strategic Resources, Inc.

Key Terms

estimated true thickness technical

The estimated true thickness is the thickness of a geological layer or mineralized zone measured perpendicular to its bedding or ore body, as opposed to the longer apparent thickness measured along a drill hole or exposure. It is obtained by correcting the measured (downhole or outcrop) interval for the angle between the hole (or measurement line) and the plane of the unit using the interpreted orientation of the rock, and its accuracy depends on the quality of that orientation data and the geological model used for the correction.

fire assay technical

Fire assay is a laboratory process used to accurately measure the amount of precious metals, like gold or silver, in a sample of ore or material. It involves heating the sample intensely to separate the metals from other substances, much like melting and purifying metal to determine its purity. This method is important to investors because it provides precise data on the metal content, helping to assess the value of mining operations or mineral deposits.

gravimetric finish technical

A gravimetric finish is a precise way of measuring the final weight of a product or material after processing or manufacturing. It ensures that the final amount meets exact standards, similar to weighing ingredients carefully in cooking. For investors, it indicates attention to quality control and consistency, which can impact a company's reputation and product reliability.

s-k 1300 regulatory

Regulation S-K Item 1300 is a U.S. securities disclosure rule that requires public companies to report how they manage cybersecurity risks and to promptly disclose material cyber incidents. Think of it as a requirement to tell investors both the company’s “cyber health” plan and any major break-ins, similar to a homeowner explaining their alarm system and alerting neighbors after a burglary. This helps investors assess operational risk and potential financial or reputational impact.