Record 2025 results for Idaho Strategic (NYSE: IDR) with 64.6% revenue jump

Rhea-AI Filing Summary

Idaho Strategic Resources delivered record 2025 operating and financial results, driven by higher gold production and stronger pricing. Revenue rose 64.6% to $42,406,253, while net income attributable to the company grew 89.2% to $16,715,674, resulting in diluted EPS of $1.14 and a third straight year of GAAP profitability.

Gold output increased 5.2% to 12,538 ounces, with ore grades improving to 10.14 gpt, though all-in sustaining costs climbed 28.3% to $1,891.79 per ounce, or $1,494.75 excluding exploration. Proven and Probable Reserves at the Golden Chest Mine expanded 53.2% following conversion drilling.

The company ended 2025 with cash and investments totaling $73,308,507, up sharply from the prior year, and total assets of $116,238,730. Idaho Strategic also advanced its rare earth portfolio, reporting high-grade samples at several prospects and entering a memorandum of understanding to evaluate a thorium-based nuclear fuel supply chain.

Positive

• Revenue and profit surge: 2025 revenue rose 64.6% to $42,406,253, while net income attributable to Idaho Strategic increased 89.2% to $16,715,674, delivering diluted EPS of $1.14 and a third consecutive year of GAAP profitability.
• Stronger balance sheet and liquidity: Cash and investments ended 2025 at $73,308,507 and total assets at $116,238,730, giving the company significantly more financial flexibility than in the prior year.
• Reserve growth and rare earth progress: Proven and Probable Reserves at the Golden Chest Mine grew 53.2%, while high-grade rare earth samples and expanded land control support longer-term growth optionality.

Negative

• Higher cost profile: All-in sustaining cost per ounce increased 28.3% to $1,891.79, and exploration expense rose to $7,637,435, pressuring margins despite strong revenue and production growth.

Insights

Mining equity analyst

Record revenue, earnings, reserves, and liquidity make 2025 a step-change year.

Idaho Strategic Resources grew revenue to $42,406,253, up 64.6%, while gross profit more than doubled to $26,205,927. Net income attributable to the company rose 89.2% to $16,715,674, marking three consecutive years of GAAP profitability and diluted EPS of $1.14.

Operationally, gold production increased 5.2% to 12,538 ounces on better grades, and Proven and Probable Reserves at the Golden Chest Mine expanded 53.2%, extending mine life and backing future output. However, all-in sustaining costs per ounce rose 28.3% to $1,891.79, reflecting heavier exploration and development activity.

Liquidity strengthened significantly, with cash and investments reaching $73,308,507 and total assets climbing to $116,238,730. The company also advanced its rare earth and thorium strategy through high-grade sampling, expanded land control and a memorandum of understanding on nuclear fuel, adding long-term optionality beyond gold.

EXHIBIT 99.1

Idaho Strategic Reports Record Operating and Financial

Performance for 2025

Annual revenue increased 64.6% to a record $42,406,253, resulting in earnings per diluted

share of $1.14 and three consecutive years of GAAP profitability

Proven and Probable Reserves at the Golden Chest Mine increased 53.2% as a result of positive

conversion drilling efforts in 2025

Ended the year with cash and investments totaling $73,308,507

COEUR D’ALENE, Idaho, March 23, 2026 (BUSINESS WIRE) – Idaho Strategic Resources, Inc. (NYSE American: IDR) (“IDR”, “Idaho Strategic” or the “Company”) today announced its consolidated operating and financial results for the year ending December 31, 2025. IDR achieved record annual gold production and financial performance during 2025 while drilling the most meters in a single year in Company history. Key highlights include:

Operational Performance:	2025	% Change	2024
Ore Tonnes Processed	41,840	1.7%	41,140
Average Flotation Feed Grade (gpt)	10.14	4.9%	9.67
Ounces Produced	12,538	5.2%	11,915
All-In Sustaining Cost Per Ounce ($USD)	$1,891.79	28.3%	$1,474.05

*Adjusted all-in sustaining costs excluding exploration expenses were $1,494.75 in 2025 and $1,256.16 in 2024.

Financial Performance ($USD):	2025	% Change	2024
Revenue	$42,406,253	64.6%	$25,765,373
Total Cost of Sales	$16,200,326	26.4%	$12,814,880
Gross Profit	$26,205,927	102.4%	$12,950,493
Net Income Attributable to IDR	$16,715,674	89.2%	$8,836,685
Earnings Per Share - Diluted (EPS)	$1.14	70.1%	$0.67

Idaho Strategic’s CEO and President, John Swallow stated, “Across the board 2025 was a very strong year for the Company. I continue to be impressed with our team’s ability to navigate the buildout of the Murray Mill, new warehouse/dry facilities, and expanded exploration programs while maintaining disciplined operations. I firmly believe we are building the all-star team at Idaho Strategic, and our financial and operational performance in 2025 serves as evidence. I am looking forward to the day that our entire team is consolidated to the Golden Chest Mine and we can begin to experience the true efficiencies that come with having everyone at one location working together.”

Idaho Strategic Resources    •     201 N. 3^rd Street     •     Coeur d’Alene, Idaho 83814

Golden Chest Highlights for 2025 Include:

	·	Produced a total of 12,538 ounces of gold contained in concentrates and doré primarily from the high-grade H-Vein at the Golden Chest mine.
	·	Mined and processed 41,840 tonnes of ore from the H-Vein underground at the Golden Chest Mine at an average grade of 10.14 gpt gold with recoveries of 93.0%.
	·	Completed 19,162 meters of core drilling at the Golden Chest Mine at the Paymaster, H-Vein, Red Star, Jumbo, and Klondike areas. About half of the meterage was dedicated to converting Paymaster Mineral Resources to Mineral Reserves, leading to a 53.2% increase in Mineral Reserves.
	·	A highlight of 2025 exploration was drifting from the Jumbo Pit portal that intercepted the Jumbo vein and found 25 meters of vein strike length with an average thickness of 0.52 meters at a gold grade of 85 gpt.

Rare Earth Highlights for 2025 include:

	·	Executed a long-term lease agreement for the mineral claims comprising approximately 1,500 acres of various in-holdings within the Company’s Mineral Hill and Lemhi Pass REE projects. Key prospects covered by the mineral claims leased by the Company include Cardinal (Mineral Hill), Lucky Horseshoe (Lemhi Pass, Idaho), Silver Queen (Lemhi Pass, Idaho), Last Chance (Lemhi Pass, Montana), Trapper (Lemhi Pass, Montana), and other prospects.
	·	Sampled greater than 17.6% total rare earth oxides from the Cardinal prospect.
	·	Announced the signing of a Memorandum of Understanding with Clean Core Thorium Energy, Inc. (“CCTE”) to evaluate the feasibility of thorium mining, processing, and fuel fabrication to facilitate a “Made in America” thorium-based nuclear fuel supply chain.
	·	Announced the discovery of a carbonatite with strong REE mineralization at the Lucky Horseshoe prospect within the Lemhi Pass project. Initial samples taken from outcrop assayed up to 6.14% total rare earth oxides with ratios of 65% magnet rare earth oxides (Nd, Pr, Dy, Tb) and 11% SEG oxides (Sm, Eu, Gd).
	·	Initiated a large-scale geophysics program across its Mineral Hill and Lemhi Pass projects including LiDAR, magnetics, and radiometrics surveys.
	·	Completed a soil sampling program covering many key prospects across the Idaho portion of its Lemhi Pass project. The program successfully identified areas of anomalous REEs in soils which will be utilized to aid in the planning of drill programs and other future exploration work.

Mr. Swallow concluded, “Simply put, commodities are once again becoming a viable American industry, and I continue to believe that our Company is well-positioned for this new secular reality. We operate a gold mine in a safe jurisdiction at a time when gold has surpassed the Euro to become the second-largest world reserve asset, the U.S. is rapidly increasing its national debt, and the current presidential administration is openly calling for reduced interest rates (within the backdrop of ever-changing cross currents). We also control the largest exploration-stage rare earth elements landholdings in the country at a time when the current U.S. administration is focused on reducing our dependence on foreign sources for rare earth elements, which are critical inputs to the very defense technologies that are being consumed daily across an increasing number of global conflicts.

Idaho Strategic Resources    •     201 N. 3^rd Street     •     Coeur d’Alene, Idaho 83814

Our foundation is built on gold production, and while the price of gold has begun its next phase of consolidation, it is important to realize that the current gold price of approximately $4,500 per ounce is roughly 25% higher than our average realized gold price of $3,583 in 2025. Additionally, as an underground mine connected to an electric grid that is approximately 60% supplied with hydroelectric power, we are relatively well insulated from the larger drivers of cost inflation that many open-pit operations are exposed to.

As always, we will continue to focus on what we can control. Our goals for 2026 are to safely grow production at the Golden Chest Mine while advancing the buildout of the Murray Mill facility. We want to prove that the Murray Gold Belt District, which we have spent the last 10 years consolidating, is a major overlooked mineral district, and we will advance our exploration efforts across our vast rare earth elements landholdings to increase the potential for a major rare earth elements discovery.

I am pleased with our performance so far and looking forward to the rest of 2026.”

Notes accompanying the financial statements below can be found in the Company’s quarterly report filed this morning with the SEC on EDGAR.

Qualified person

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.

About Idaho Strategic Resources, Inc.

Idaho Strategic Resources (IDR) is an Idaho-based gold producer which also controls the largest rare earth elements land package in the United States. The Company’s production-backed 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

Idaho Strategic Resources    •     201 N. 3^rd Street     •     Coeur d’Alene, Idaho 83814

Idaho Strategic Resources, Inc. Consolidated Statements of Operations For the Years Ended December 31, 2025 and 2024
		2025				2024
Revenue-gold sales		$	42,406,253			$	25,765,373
Cost of sales:
Cost of sales and other direct production costs			13,862,226				10,861,492
Depreciation and amortization			2,338,100				1,953,388
Total cost of sales			16,200,326				12,814,880
Gross profit			26,205,927				12,950,493
Other operating expenses:
Exploration			7,637,435				2,920,535
Loss on disposal of equipment			343,945				1,431
Management			945,579				407,715
Professional services			585,145				432,237
General and administrative			1,092,822				763,040
Total other operating expenses			10,604,926				4,524,958
Income from operations			15,601,001				8,425,535
Other (income) expense:
Equity income on investment in Buckskin Gold and Silver, Inc.			(3,646	)			(2,667	)
(Gain) loss on investment in equity securities and mutual funds			(110,092	)			453
Timber revenue			(9,679	)			(19,406	)
Dividend income			(50,881	)			-
Interest income			(1,282,045	)			(389,517	)
Interest expense			-				83,295
Total other (income) expense			(1,456,343	)			(327,842	)
Income before income taxes			17,057,344				8,753,377
Income tax expense			426,146				-
Net income			16,631,198				8,753,377
Net loss attributable to non-controlling interest			(84,476	)			(83,308	)
Net income attributable to Idaho Strategic Resources, Inc.		$	16,715,674			$	8,836,685
Net income per common share-basic		$	1.15			$	0.68
Weighted average common shares outstanding-basic			14,489,196				13,026,487
Net income per common share-diluted		$	1.14			$	0.67
Weighted average common shares outstanding-diluted			14,701,346				13,197,308

Idaho Strategic Resources    •     201 N. 3^rd Street     •     Coeur d’Alene, Idaho 83814

Idaho Strategic Resources, Inc. Consolidated Balance Sheets December 31, 2025 and 2024
		2025				2024
ASSETS
Current assets:
Cash and cash equivalents		$	9,889,765			$	1,106,901
Investment in US treasury notes			27,679,881				7,775,193
Investment in equity securities			4,129,521				-
Investment in mutual funds			3,957,497				-
Gold sales receivable			3,912,922				1,578,694
Inventories			965,112				899,924
Joint venture receivable			12,760				2,892
Other current assets			799,261				378,469
Total current assets			51,346,719				11,742,073
Property, plant and equipment, net of accumulated depreciation			19,503,962				12,904,065
Mineral properties, net of accumulated amortization			15,742,370				10,573,349
Investment in Buckskin Gold and Silver, Inc.			345,082				341,436
Investment in joint venture			435,000				435,000
Investment in US treasury notes, non-current			27,651,843				7,208,930
Reclamation bonds			355,220				249,110
Deposits			858,534				567,667
Total assets		$	116,238,730			$	44,021,630
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued expenses		$	1,904,589			$	1,006,078
Accrued payroll and related payroll expenses			409,212				564,090
Notes payable, current portion			1,029,336				709,381
Income taxes payable			334,446				-
Total current liabilities			3,677,583				2,279,549
Asset retirement obligations			325,451				305,409
Notes payable, long term			1,302,048				1,023,358
Deferred tax liability			91,700				-
Total long term liabilities			1,719,199				1,328,767
Total liabilities			5,396,782				3,608,316
Commitments and Contingencies (Note 5 and 12)			-				-
Stockholders’ equity:
Preferred stock, no par value, 1,000,000 shares authorized; no shares issued or outstanding			-				-
Common stock, no par value, 200,000,000 shares authorized; 15,705,199 and 13,665,058 shares issued and outstanding, respectively			99,828,021				46,059,318
Retained earnings (accumulated deficit)			8,341,721				(8,373,953	)
Total Idaho Strategic Resources, Inc. stockholders’ equity			108,169,742				37,685,365
Non-controlling interest			2,672,206				2,727,949
Total stockholders' equity			110,841,948				40,413,314
Total liabilities and stockholders’ equity		$	116,238,730			$	44,021,630

Idaho Strategic Resources    •     201 N. 3^rd Street     •     Coeur d’Alene, Idaho 83814

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 are not limited to, the Company experiencing tangible benefits from having all team members consolidated to the Golden Chest Mine site, the potential for the Murray Gold Belt to be proven as a major overlooked mineral district, and the potential for IDR to make a major rare earth elements discovery in the future based on planned exploration work in 2026. 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 those following are applicable to both this press release, as well as 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.

Idaho Strategic Resources    •     201 N. 3^rd Street     •     Coeur d’Alene, Idaho 83814 

FAQ

How did Idaho Strategic Resources (IDR) perform financially in 2025?

Idaho Strategic reported record 2025 revenue of $42,406,253, up 64.6% from 2024. Net income attributable to the company grew 89.2% to $16,715,674, delivering diluted earnings per share of $1.14 and marking a third consecutive year of GAAP profitability.

What were Idaho Strategic Resources’ 2025 gold production and costs?

In 2025, Idaho Strategic produced 12,538 ounces of gold, a 5.2% increase over 2024, from ore grading 10.14 gpt with 93.0% recoveries. All-in sustaining cost per ounce rose 28.3% to $1,891.79, or $1,494.75 excluding exploration expenses.

How much did Golden Chest Mine reserves grow for Idaho Strategic in 2025?

Proven and Probable Reserves at the Golden Chest Mine increased by 53.2% in 2025. This growth resulted from conversion drilling, especially at the Paymaster area, and supports longer-term mine life and production planning for Idaho Strategic’s primary gold asset.

What was Idaho Strategic Resources’ cash and investment position at year-end 2025?

At December 31, 2025, Idaho Strategic held $9,889,765 in cash and cash equivalents plus sizable investments, bringing total cash and investments to $73,308,507. This stronger liquidity position enhances the company’s ability to fund mine development and exploration programs.

How did Idaho Strategic’s rare earth projects advance in 2025?

In 2025, Idaho Strategic executed a long-term lease on key rare earth claims, reported samples up to 17.6% and 6.14% total rare earth oxides, and launched geophysics and soil programs, while signing an MOU to evaluate thorium mining and nuclear fuel supply opportunities.

What were Idaho Strategic Resources’ total assets and equity at year-end 2025?

Total assets reached $116,238,730 at December 31, 2025, up strongly from 2024. Total stockholders’ equity was $110,841,948, including $108,169,742 attributable to Idaho Strategic shareholders, reflecting retained earnings growth and additional common stock capital.

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