Integra receives DeLamar federal permitting schedule

Executive Summary

• Integra Resources Corp. has received a formal federal permitting schedule from the U.S. Bureau of Land Management (BLM) for its DeLamar heap leach project in Idaho, establishing a clear pathway toward a Record of Decision (ROD) in the third quarter of 2027.
• The BLM-defined timeline includes a Notice of Intent (NOI) publication in Q2 2026, followed by a 15-month NEPA review period, representing a significantly accelerated and derisked development profile compared to previous scenarios.
• This permitting milestone complements the recently released 2025 Feasibility Study (FS), which outlines robust economics for a 10-year mine life with strong internal rates of return and low all-in sustaining costs.

Key Details

• Permitting Timeline:
  • Notice of Intent (NOI): Scheduled for publication in the second quarter of 2026.
  • NEPA Review Period: Anticipated duration of 15 months following the NOI.
  • Environmental Impact Statement (EIS) & Record of Decision (ROD): Targeted for issuance in the third quarter of 2027.
• Regulatory Process:
  • The BLM will conduct a public scoping process to engage federal, state, and local agencies, tribal nations, and the public.
  • Mitigation measures will be developed, including a Programmatic Agreement (PA) with tribal nations to manage impacts on culturally sensitive areas.
  • Concurrently, Integra is advancing state-level permits, including groundwater, pollution discharge elimination, cyanidation, air quality, and Clean Water Act Section 404 permits.
• Feasibility Study (FS) Economics (2025 FS):
  • Production Profile: 1.1 million ounces of gold equivalent (AuEq) over a 10-year mine life plus two years of residual leaching.
  • Annual Production: Average of 106,000 ounces AuEq per annum.
  • Costs: Co-product mine site all-in sustaining cost of $1,480 per ounce AuEq.
  • Base Case Valuation ($3,000/oz Au, $35/oz Ag):
    • After-tax NPV (5%): $774 million.
    • After-tax IRR: 46%.
  • Recent Price Valuation ($4,250/oz Au, $60/oz Ag):
    • After-tax NPV (5%): $1.7 billion.
    • After-tax IRR: 89%.
• Technical Report Filing: The FS technical report is scheduled to be filed on SEDAR+ and EDGAR by February 2, 2026.
• Project Location: DeLamar and Florida Mountain gold and silver deposits in Owyhee County, southwestern Idaho.

Notable Quotes

• "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." — George Salamis, President, CEO, and Director of Integra.
• "Combined with the recently released DeLamar feasibility study, this milestone positions the project among the most advanced and derisked 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..." — George Salamis.