INTEGRA REPORTS SECOND QUARTER 2025 RESULTS; CONSISTENT PERFORMANCE AND SIGNIFICANT CAPITAL INVESTMENT AT FLORIDA CANYON GOLD MINE

Executive Summary

• Integra Resources reported record Q2 2025 revenue of $61.1 M and mine operating earnings of $25.2 M, delivering a 41% operating margin.
• Gold production at Florida Canyon was 18,087 oz (sold 18,194 oz) at an average realized price of $3,332/oz; cash costs fell to $1,849/oz while AISC rose to $2,641/oz due to $14.2 M sustaining capital spend.
• The company ended the quarter with $63.0 M cash, a $15.0 M draw on its convertible debt facility, and announced a $55 M total 2025 capital investment plan for Florida Canyon plus ongoing development of DeLamar and Nevada North projects.

Key Details

• Production & Sales – 18,087 oz gold produced; 18,194 oz sold at $3,332/oz (record price).
• Financial Highlights – Revenue $61.1 M; Net earnings $10.6 M ($0.06/share); Adjusted earnings $11.8 M ($0.07/share).
• Cost Metrics – Cash costs $1,849/oz (down from $2,016/oz YoY); Mine‑site AISC $2,641/oz (up from $2,342/oz YoY) due to $14.2 M sustaining capital.
• Cash Position – Cash & equivalents $63.0 M (↑3% QoQ); Convertible debt facility: $15.0 M drawn, $5.0 M undrawn.
• Capital Expenditure – Sustaining capex $14.2 M in Q2; non‑sustaining growth capex $0.8 M; total H1 2025 spend $20.2 M.
• Operating Cash Flow – $16.3 M (including $1.7 M tax payments). Free cash flow $2.1 M.
• Mining Operations – Ore mined 3,074,440 t; waste mined 2,966,291 t; strip ratio 0.96; mining rate 33,785 tpd (↑1% QoQ).
• Exploration & Growth – Q2 drilling: ~5,700 m completed; program expanded to ~16,000 m total; $1.1 M spend YTD. Updated resource/reserve estimate expected H1 2026.
• Development Projects – DeLamar Feasibility Study advanced; environmental review to start H2 2025. Nevada North (Wildcat & Mountain View) progressing toward permits, with FONSI and reclamation permit anticipated H2 2025.
• Safety – Zero fatalities; 2 reportable MSHA injuries; TRIFR 1.89. No environmental spills.

Notable Quotes

“We are pleased to report consistent gold production from Florida Canyon and positive financial results… The focus for the remainder of 2025 continues to be capital investment and growth at Florida Canyon, permitting a feasibility study for DeLamar, and continued de‑risking activities at Nevada North.” – George Salamis, President, CEO & Director

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