INTEGRA RECEIVES FEDERAL PERMITTING SCHEDULE FOR DELAMAR HEAP LEACH PROJECT; CLEAR AND ACCELERATED PATHWAY TARGETING A RECORD OF DECISION IN 2027

Rhea-AI Summary

Integra Resources (NYSE American: ITRG) announced the BLM has established a formal NEPA permitting schedule for the DeLamar Heap Leach Project in southwest Idaho, targeting publication of a Notice of Intent in Q2 2026 and an Environmental Impact Statement and Record of Decision in Q3 2027 following a 15-month review.

Combined with the December 2025 Feasibility Study, DeLamar is presented as an advanced, de-risked large-scale gold‑silver project with a 10-year mine life, 1.1 million ounces AuEq total production, average annual production of 106,000 oz AuEq, co-product AISC of $1,480/oz AuEq, after-tax NPV5% of $774M and IRR of 46% at base case prices.

Positive

• BLM-defined NEPA timeline targeting a ROD in Q3 2027
• Feasibility Study: 1.1M oz AuEq total production
• Average annual production: 106,000 oz AuEq
• Base-case after-tax NPV5% $774M and IRR 46%

Negative

• Project requires multiple federal, state, and local permits before construction
• NEPA review still spans a 15-month process before a ROD is issued
• Construction contingent on posting required bonding and approved Reclamation Plan

News Market Reaction

+7.40% 1.7x vol

23 alerts

+7.40% News Effect

+10.4% Peak in 24 hr 23 min

+$53M Valuation Impact

$771M Market Cap

1.7x Rel. Volume

On the day this news was published, ITRG gained 7.40%, reflecting a notable positive market reaction. Argus tracked a peak move of +10.4% during that session. Our momentum scanner triggered 23 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $53M to the company's valuation, bringing the market cap to $771M at that time. Trading volume was above average at 1.7x the daily average, suggesting increased trading activity.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

NEPA review period: 15 months Operating mine life: 10 years Total AuEq production: 1.1 million oz AuEq +5 more

8 metrics

NEPA review period 15 months BLM NEPA review following NOI, targeting EIS and ROD

Operating mine life 10 years DeLamar Feasibility Study operating mine life (plus 2 years residual leach)

Total AuEq production 1.1 million oz AuEq Life-of-mine production in 2025 DeLamar FS

Average annual AuEq 106,000 oz AuEq Average yearly production profile in FS

AISC $1,480/oz AuEq Co-product mine-site All-in Sustaining Cost from FS

After-tax NPV5% $774 million Base case FS at $3,000/oz Au and $35/oz Ag

After-tax IRR 46% Base case FS economics for DeLamar

After-tax IRR (spot case) 89% FS using recent $4,250/oz Au and $60/oz Ag

Market Reality Check

Price: $4.30 Vol: Volume 2,025,080 vs 20-da...

normal vol

$4.30 Last Close

Volume Volume 2,025,080 vs 20-day average 1,900,174 (relative volume 1.07x). normal

Technical Trading above 200-day MA: price $3.92 vs 200-day MA $2.36.

Peers on Argus

ITRG was down 0.25% with mixed peer action: NEWP +0.54%, ASM +1.96%, MUX +1.31% ...

ITRG was down 0.25% with mixed peer action: NEWP +0.54%, ASM +1.96%, MUX +1.31% versus MTA -1.81% and SLSR -0.75%, pointing to stock-specific dynamics rather than a unified sector move.

Historical Context

5 past events · Latest: Dec 23 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 23	Ownership reorg	Neutral	-0.7%	Beedie internal reorganization consolidating ITRG stake into subsidiaries.
Dec 22	Debt conversion	Positive	+0.9%	Full conversion and repayment of Beedie convertible debenture facility.
Dec 17	Feasibility study	Positive	+1.7%	DeLamar Feasibility Study showing robust economics and lower project risk.
Nov 12	Earnings results	Positive	+6.6%	Q3 2025 results with record revenue, strong earnings, and higher cash.
Oct 23	Ops update	Positive	+4.2%	Strong Q3 2025 Florida Canyon production and increased cash balance.

Pattern Detected

Recent fundamentally positive updates (feasibility, production, earnings, balance sheet) have generally seen positive 1-day price reactions, suggesting the stock has tended to align with constructive news.

Recent Company History

Over the last few months, Integra reported strong Q3 2025 operating and financial results on Oct 23 and Nov 12, highlighting solid Florida Canyon production, record revenue of $70.7M, and cash rising to about $81.2M. On Dec 17, a DeLamar Feasibility Study showed an after-tax NPV5% of $774M and IRR of 46%. Late December saw full conversion and repayment of the Beedie debenture and an internal Beedie reorganization. Today’s permitting schedule update extends this DeLamar de-risking narrative.

Market Pulse Summary

The stock moved +7.4% in the session following this news. A strong positive reaction aligns with an ...

Analysis

The stock moved +7.4% in the session following this news. A strong positive reaction aligns with an already improving backdrop: the stock traded at $3.92, well above its $2.36 200-day MA and up sharply from the $0.79 52-week low. Prior DeLamar Feasibility Study and Q3 2025 operational updates all saw positive price responses, so investors had rewarded de-risking milestones. However, sustainability would depend on how the market digests permitting timelines and capital needs, and whether enthusiasm extends beyond short-term momentum.

Key Terms

national environmental policy act, notice of intent, environmental impact statement, record of decision, +4 more

8 terms

national environmental policy act regulatory

"federal permitting schedule under the National Environmental Policy Act ("NEPA") for"

A U.S. law that requires federal agencies to evaluate and disclose the likely environmental effects of major projects and decisions before they proceed. For investors, that review can delay approvals, add compliance costs, or change project plans—like a required safety inspection that can uncover problems or require fixes before construction continues—so NEPA processes are a key source of timing, cost and legal risk for projects involving federal permits or funding.

notice of intent regulatory

"contemplates publication of a Notice of Intent ("NOI") in the second quarter of 2026"

A notice of intent is a formal written announcement that an organization plans to take a specific action—such as filing legal claims, seeking regulatory approval, issuing securities, or starting a procurement process. For investors it matters because it signals a likely future event that could change a company’s costs, revenues, risk profile or ownership; think of it like a heads-up that a major move is being prepared so stakeholders can anticipate and reassess their positions.

environmental impact statement regulatory

"culminating in the issuance of an Environmental Impact Statement ("EIS") and Record of"

An environmental impact statement is a formal report that evaluates the likely effects a proposed project or plan will have on air, water, land, wildlife and local communities; it lays out potential harms, proposed mitigation measures, and alternatives. Think of it as a project’s environmental report card and repair plan: regulators use it to decide permits, and investors use it to assess delays, extra costs, legal risks and reputation exposure tied to environmentally sensitive issues.

record of decision regulatory

"Impact Statement ("EIS") and Record of Decision ("ROD") in the third quarter of 2027"

A record of decision is an official written statement from a government regulator that explains and finalizes its approval or denial of a proposed project after reviewing environmental and legal factors. For investors, it matters because it removes a major regulatory uncertainty — like a referee’s final whistle — allowing a project to move forward, be funded, or be halted, which can change timelines, costs, and potential liabilities.

heap leach technical

"DeLamar gold-silver heap leach Project ("DeLamar" or the "Project") located"

Heap leach is a mining method where crushed ore is piled into a heap and a liquid is dripped or sprayed over it to dissolve valuable metals, which are then collected from the runoff. Investors care because it is a lower-cost, scalable way to produce metals like gold or copper, but it also affects project timelines, recovery rates, capital needs and environmental or regulatory risk — like choosing a cheap, slow way to extract juice from a fruit versus pressing it quickly.

net present value financial

"The Project generates an after-tax Net Present Value ("NPV5%") of $774 million"

Net present value is a way to measure the value of a future amount of money today. It considers how money available in the future is worth less than money now because of potential earning opportunities or inflation. Investors use it to decide whether an investment is worthwhile, aiming for projects with positive net present value, meaning they are expected to generate more value than they cost.

internal rate of return financial

"after-tax Internal Rate of Return ("IRR") of 46% at base case gold"

A percentage that represents the annualized yield an investment would earn, taking into account the timing and amount of all cash inflows and outflows; mathematically it is the rate that makes the discounted sum of future cash flows equal the initial cost. Investors use it to compare different projects or deals the way they compare interest rates — a higher internal rate of return suggests a stronger potential payoff, but it does not by itself show risk, scale, or timing nuances.

all-in sustaining cost financial

"All-in Sustaining Cost of $1,480 per ounce ("/oz") AuEq"

All-in sustaining cost (AISC) is a per-unit measure that shows the full, ongoing cost to produce a commodity, typically an ounce of metal, including direct mining costs, sustaining capital (ongoing equipment and mine upkeep), royalties, and general overhead. For investors it matters because AISC reveals the durable earning power and true profit margin of a producer—like calculating the total monthly cost to own and operate a car to judge whether selling rides is profitable over time.

AI-generated analysis. Not financial advice.

TSXV: ITR; NYSE American: ITRG
 www.integraresources.com

VANCOUVER, BC, Jan. 12, 2026 /PRNewswire/ - Integra Resources Corp. ("Integra" or the "Company") (TSXV: ITR) (NYSE American: ITRG) is pleased to announce that the United States Bureau of Land Management ("BLM") has formally established a federal permitting schedule under the National Environmental Policy Act ("NEPA") for the Company's DeLamar Heap Leach Project ("DeLamar" or the "Project") located in southwestern Idaho. For the first time, DeLamar benefits from a clearly defined, fact-based NEPA pathway endorsed by the BLM, providing enhanced visibility into the federal permitting process and materially reducing permitting uncertainty.

The BLM-defined schedule contemplates publication of a Notice of Intent ("NOI") in the second quarter of 2026, followed by an anticipated 15-month NEPA review period, culminating in the issuance of an Environmental Impact Statement ("EIS") and Record of Decision ("ROD") in the third quarter of 2027. This timeline is materially more efficient than previously contemplated permitting scenarios and represents a significant advancement in the Project's development trajectory.

When combined with the recently released Feasibility Study, demonstrating robust gold- and silver-driven economics, DeLamar is now materially de-risked and advancing toward a shovel-ready development profile from both a technical and permitting perspective. DeLamar stands out as one of a limited number of advanced-stage gold-silver development projects in the United States currently benefiting from a defined and expedited federal permitting timeline.

George Salamis, President, CEO and Director of Integra, commented: "The establishment of a BLM-defined federal permitting timeline marks a transformational milestone for both DeLamar and Integra. For the first time, the Project has a clear, accelerated, and fact-based pathway through the NEPA process, materially reducing one of the most significant barriers to mine development in the United States. This schedule is meaningfully shorter than previously anticipated and substantially improves project certainty, capital efficiency, and time-to-value for our shareholders.

Combined with the recently released DeLamar Feasibility Study, this milestone positions the Project among the most advanced and de-risked large-scale precious metals development opportunities in the United States. With strong economics, early free cash flow potential, and a defined federal permitting runway, we believe DeLamar is approaching a build-ready profile and is well positioned to deliver long-term value in a constructive gold and silver market environment."

Permitting Schedule Details and Next Steps

Since the Company's acquisition of the DeLamar Project, nearly a decade of comprehensive environmental baseline data collection, exploration, engineering studies, and mine plan development have been completed. This extensive work has resulted in a Project that is well advanced and well prepared for rigorous environmental review. Ongoing engagement with surrounding communities and regional Tribal Nations has provided valuable input and helped inform multiple iterations of Project refinement as it has progressed through successive review cycles.

Now that the federal permitting schedule has been established, the BLM will move to publish a NOI in the Federal Register to notify government agencies and the public of the proposed action at DeLamar. The NOI formally announces the BLM's intent to prepare an EIS in accordance with NEPA. Following publication of the NOI, a public scoping process will be conducted to engage federal, state, and local agencies, Tribal Nations, and the general public to identify issues and concerns associated with the Project. These issues will guide the development of reasonable alternatives designed to minimize adverse effects and prevent undue degradation.

Once scoping is complete, environmental impact analyses of the Project and a reasonable range of alternatives will be undertaken, culminating in preparation of the EIS. Through this process, elements of the Project may be refined and mitigation measures developed to reduce potential environmental impacts. In the EIS and accompanying ROD, anticipated in the third quarter of 2027, the BLM will identify a Preferred Alternative and any mitigation measures required for Project implementation. This mitigation is expected to include continued engagement with Tribal Nations and the development of a Programmatic Agreement ("PA"), a formal framework established among the Company, governmental agencies, and Tribal Nations to identify, manage, and mitigate potential impacts to culturally sensitive areas and historic properties.

Following completion of the NEPA process, a final revised Mine Plan of Operations ("MPO") will be prepared that incorporates the Preferred Alternative and all required mitigation measures.

While the EIS process is underway, the Company will continue to work with federal, state, and local regulatory agencies to advance the various permits required prior to construction and operation. These permits include a groundwater Point of Compliance Permit to protect beneficial uses of groundwater; an Idaho Pollution Discharge Elimination System Permit governing treated industrial wastewater discharges; a Cyanidation Permit for heap leach operations; an Air Quality Permit to Construct; and a Section 404 Clean Water Act Permit issued by the U.S. Army Corps of Engineers to assess impacts to aquatic resources and implement compensatory mitigation where required. An approved Reclamation Plan, supported by appropriate financial assurance, will also be required. Upon receipt of all necessary permits and posting of required bonding, the Project may proceed to construction.

DeLamar Project Overview

(All amounts in United States ("U.S.") dollars unless otherwise stated)

The past producing DeLamar Project, which includes the adjacent DeLamar and Florida Mountain gold and silver deposits, is located in Owyhee County in southwest Idaho. Since acquiring the Project in 2017, the Company has demonstrated significant resource growth and conversion while providing robust economic studies in its maiden Preliminary Economic Assessment, Pre-feasibility Study, and Feasibility Study ("FS") in late-2025. The 2025 FS for DeLamar confirmed robust economics for a low-cost, large-scale, conventional open pit oxide heap leach operation, with competitive operating costs and high rate of return. The FS outlines total production of 1.1 million ounces of gold equivalent ("AuEq") over a 10-year operating mine life (plus two years of residual leaching), resulting in an average annual production profile of 106,000 ounces AuEq per annum at a co-product mine-site All-in Sustaining Cost of $1,480 per ounce ("/oz") AuEq. The Project generates an after-tax Net Present Value ("NPV5%") of $774 million with an after-tax Internal Rate of Return ("IRR") of 46% at base case gold and silver prices of $3,000/oz and $35/oz, respectively. After-tax NPV5% improves to $1.7 billion and after-tax IRR to 89% using recent gold and silver prices of $4,250/oz and $60/oz, respectively. Refer to the 2025 DeLamar Feasibility Study announcement news release from December 17, 2025 here.

1. Gold equivalent calculated using base case metal prices: $3,000/oz Au and $35/oz Ag
2. See Cautionary Note Regarding Non-GAAP Measures

The FS technical report will be filed on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov by February 2, 2026.

About Integra

Integra is a growing precious metals producer in the Great Basin of the Western United States. Integra is focused on demonstrating profitability and operational excellence at its principal operating asset, the Florida Canyon Mine, located in Nevada. In addition, Integra is committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho and the Nevada North Project located in western Nevada. Integra creates sustainable value for shareholders, stakeholders, and local communities through successful mining operations, efficient project development, disciplined capital allocation, and strategic M&A, while upholding the highest industry standards for environmental, social, and governance practices.

ON BEHALF OF THE BOARD OF DIRECTORS

George Salamis
President, CEO and Director

CONTACT INFORMATION
Corporate Inquiries: ir@integraresources.com
Company website: www.integraresources.com
Office phone: 1 (604) 416-0576

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved

by James Frost, P.Eng., Director, Technical Services of Integra, who is a "Qualified Person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").

Forward Looking Statements

Certain information set forth in this news release contains "forward‐looking statements" and "forward‐looking information" within the meaning of applicable Canadian securities legislation and in applicable United States securities law (referred to herein as forward‐looking statements). Forward-looking statements are often identified by the use of words such as "may", "will", "could", "would", "anticipate", "believe", "expect", "intend", "potential", "estimate", "budget", "scheduled", "plans", "planned", "forecasts", "goals" and similar expressions. Except for statements of historical fact, certain information contained herein constitutes forward‐looking statements which includes, but is not limited to, statements with respect to: the future financial or operating performance of the Company, the Project and its mineral properties; results from work performed to date; the estimation of mineral resources and reserves; the realization of mineral resource and reserve estimates; the development, operational and economic results of the FS for the Project, including cash flows, revenue potential, development, expenditures, and timing thereof, extraction rates, life-of-mine projections and cost estimates; timing of completion of a technical report summarizing the results of the FS; magnitude or quality of mineral deposits; anticipated advancement of the Project mine plan; exploration expenditures, costs and timing of the development of new deposits; costs and timing of future exploration; permitting; construction and optimization planning; estimates of metallurgical recovery rates; anticipated advancement of the Project, future prospects and prospective inclusion of Mineral Resources in future mining activities; requirements for additional capital; the future price of metals; government regulation of mining operations; environmental risks; the timing and possible outcome of pending regulatory matters; the realization of the expected economics of the Project; future growth potential of the Project; and future development plans.

Forward-looking statements are based on a number of factors and assumptions made by management and considered reasonable at the time such statement was made. Assumptions and factors include: the Company's ability to complete its planned exploration and development programs; the absence of adverse conditions at the Project and the Company's mineral properties; satisfying ongoing covenants under the Company's loan facilities; no unforeseen operational delays; no material delays in obtaining necessary permits; results of independent engineer technical reviews; the possibility of cost overruns and unanticipated costs and expenses; the price of gold remaining at levels that continue to render the Project and the Company's mineral properties economic; the Company's ability to continue raising necessary capital to finance operations; and the ability to realize on the mineral resource and reserve estimates. Forward‐looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward‐looking statements. These risks and uncertainties include, but are not limited to: general business, economic and competitive uncertainties; the actual results of current and future exploration activities; conclusions of economic evaluations; meeting various expected cost estimates; benefits of certain technology usage; changes in project parameters and/or economic assessments as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labor disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; risks related to local communities; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); title to properties; and other factors beyond the Company's control and as well as those factors included herein and elsewhere in the Company's public disclosure. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Readers are advised to study and consider risk factors disclosed in Integra's Annual Information Form dated March 26, 2025 for the fiscal year ended December 31, 2024, which is available on the SEDAR+ issuer profile for the Company at www.sedarplus.ca and available as Exhibit 99.1 to Integra's Form 40-F, which is available on the EDGAR profile for the Company at www.sec.gov.

Investors are cautioned not to put undue reliance on forward-looking statements.  The forward-looking statements contained herein are made as of the date of this news release and, accordingly, are subject to change after such date.  The Company disclaims any intent or obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.  Investors are urged to read the Company's filings with Canadian securities regulatory agencies, which can be viewed online under the Company's profile on SEDAR+ at www.sedarplus.ca.

Cautionary Note Regarding Non-GAAP Financial Measures

Alternative performance measures in this news release such as "cash cost", "AISC" and "free cash flow" are furnished to provide additional information. These non-GAAP performance measures are included in this news release because these statistics are used as key performance measures that management uses to monitor and assess performance of DeLamar, and to plan and assess the overall effectiveness and efficiency of mining operations. These performance measures do not have a standardized meaning within International Financial Reporting Standards ("IFRS") and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. These performance measures should not be considered in isolation as a substitute for measures of performance in accordance with IFRS.

Cash Costs

Cash costs include site operating costs (mining, processing, site G&A), refinery costs and royalties, but excludes head office G&A and exploration expenses.  While there is no standardized meaning of the measure across the industry, the Company believes that this measure is useful to external users in assessing operating performance.

All-In Sustaining Cost

Site level AISC includes cash costs and sustaining and expansion capital, but excludes head office G&A and exploration expenses. The Company believes that this measure is useful to external users in assessing operating performance and the Company's ability to generate free cash flow from potential operations.

Free Cash Flow

Free cash flows are revenues net of operating costs, royalties, capital expenditures and cash taxes. The Company believes that this measure is useful to the external users in assessing the Company's ability to generate cash flows from the Project.

Cautionary Note for U.S. Investors Concerning Mineral Resources and Reserves

National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Technical disclosure contained in this news release has been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Classification System. These standards differ from the requirements of the U.S. Securities and Exchange Commission ("SEC") and resource and reserve information contained in this news release may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Integra Resources Corp.

FAQ

What NEPA timeline did Integra (ITRG) receive for DeLamar?

The BLM schedule anticipates a Notice of Intent in Q2 2026 and an EIS and ROD in Q3 2027 after a 15-month review.

What production profile does the DeLamar Feasibility Study show for ITRG?

The FS outlines 1.1 million oz AuEq over a 10-year mine life, averaging 106,000 oz AuEq per year.

What are the DeLamar project economics reported by Integra (ITRG)?

At base-case prices ($3,000/oz Au, $35/oz Ag) the FS shows after-tax NPV5% $774M and after-tax IRR 46%.

Which permits remain required for DeLamar before construction?

Required permits include groundwater Point of Compliance, Idaho PDES, Cyanidation Permit, Air Quality Permit to Construct, and a Section 404 Clean Water Act permit.

Does the DeLamar schedule require engagement with Tribal Nations for ITRG?

Yes; the EIS is expected to include mitigation and a Programmatic Agreement developed with Tribal Nations and agencies.

When will the DeLamar Feasibility Study technical report be filed for ITRG?

The FS technical report will be filed on SEDAR+ and EDGAR by February 2, 2026.