Integra releases 2026 guidance, 3 yr production outlook

Executive Summary

• Integra Resources Corp. released its 2026 guidance and a three-year outlook (2026–2028) for its Florida Canyon Gold Mine, highlighting a strategy of operational strengthening in 2026 to support production growth and improved cost performance in subsequent years.
• The company anticipates higher near-term costs due to capital-intensive investments in waste stripping, fleet rebuilds, and infrastructure upgrades, which are designed to extend mine life and increase production volumes in 2027 and 2028.
• Development spending is allocated to the DeLamar and Nevada North projects, with specific permitting milestones and technical studies scheduled for 2026 and 2027.

Key Details

• 2026 Florida Canyon Production Guidance: Expected gold production of 70,000 to 75,000 ounces, with approximately 45% of ounces produced in the first half of 2026.
• 2026 Mining Volume: Planned mining of 13.9 million tonnes of ore and 19.3 million tonnes of waste (total 33.2 million tonnes), resulting in a strip ratio of 1.39.
• 2026 Cost Guidance:
  • Cash costs: $1,900 to $2,100 per ounce of gold sold (including royalties).
  • Mine-site AISC: $2,750 to $2,950 per ounce of gold sold.
• 2026 Capital Expenditures (Florida Canyon):
  • Sustaining capital: $62.0 million to $68.0 million (55% allocated to H1 2026), focused on capitalized waste stripping, mobile fleet rebuild/replacement, infill, and development drilling.
  • Growth capital: $7.5 million to $9.5 million for expansion projects, studies, and exploration.
• 2027–2028 Production Outlook: Sustaining and growth investments are expected to support increased annual gold production of approximately 80,000 to 90,000 ounces per year in 2027 and 2028.
• Drilling Programs (Florida Canyon):
  • Infill and development drilling: Approximately 31,000 metres of reverse circulation (RC) drilling for near-mine targets.
  • Growth exploration: Approximately 8,000 metres of RC drilling and 1,000 metres of core drilling to test new targets outside the active mine boundary.
• DeLamar Project (Idaho):
  • Total advancement spending in 2026: $35.0 million to $40.0 million for detailed engineering, permitting, and site support.
  • Preproduction capital and strategic land acquisition: $38.0 million to $42.0 million (70% for long-lead equipment/early works, 30% for land acquisition).
  • Permitting Schedule: BLM established a federal NEPA schedule in January 2026; Notice of Intent (NOI) expected in Q2 2026, with an Environmental Impact Statement (EIS) and Record of Decision (ROD) anticipated in Q3 2027.
• Nevada North Project (Nevada):
  • Advancement budget: $10.0 million to $15.0 million within the total project advancement budget.
  • Drilling: Approximately 500 metres of core drilling for testwork, with a further 5,000 metres planned for conversion drilling.
  • Studies: Prefeasibility study planned for late 2026, with results expected in H1 2027.

Notable Quotes

• "Florida Canyon is performing as intended following its acquisition, providing Integra with a stable, cash-generating foundation that derisks the business while helping fund future portfolio growth." — George Salamis, President, CEO and Director
• "Our 2026 plan prioritizes operational reliability, maintenance discipline and targeted reinvestment to strengthen the operation, extend mine life and position Florida Canyon as a sustainable, high-quality producing asset rather than a transitional one." — George Salamis
• "Integra's strategy remains centred on building a durable, U.S.-focused gold producer. Our three-year outlook outlines a clear trajectory: operational strengthening in 2026, followed by production growth and improving cost performance through 2027 and 2028." — George Salamis