Integra Resources Boosts Long-Term Gold Outlook With $55M Investment in Florida Canyon Mine

Author: Benzinga Newsdesk | July 17, 2025 05:34am

Integra Resources Corp. ("Integra" or the "Company") (TSXV:ITR) (NYSE:ITRG) is pleased to provide an interim operational update for the second quarter ended June 30, 2025 (the "second quarter 2025" or "Q2 2025"). The Company plans to release its second quarter 2025 financial results after market close on Wednesday, August 13, 2025, followed by a conference call hosted by senior management on Thursday, August 14, 2025 at 11:00 AM Eastern Time / 8:00 AM Pacific Time.

(All amounts in United States ("U.S.") dollars as at June 30, 2025, unless otherwise stated)

George Salamis, President, CEO and Director of Integra commented: "Florida Canyon continues to deliver on our expectations, generating meaningful cash flow to fund significant re-investment into the mine, while also supporting the Company's broader growth strategy. As described in our 2025 guidance, between sustaining and growth capital, the Company plans to invest over ~$55 million into Florida Canyon this year – capital that not only supports near-term improvements but also positions the mine for long-term growth and profitability. Overall, we are very pleased with the consistent operational delivery from Florida Canyon and the momentum it is helping us build across the business."

Second Quarter 2025 Florida Canyon Mine Operational Update

Florida Canyon Mine Operating Highlights	Unit1	Three Months Ended June 30, 2025	Six Months Ended June 30, 2025
Ore mined	kt	3,075	6,096
Waste mined	kt	2,966	4,765
Total mined	kt	6,041	10,861
Strip ratio	waste:ore	0.96	0.78
Crushed ore to pad	kt	1,882	3,646
Run-of-mine ("ROM") ore to pad	kt	1,275	2,474
Total ore placed	kt	3,157	6,120
Processed grade	g/t Au	0.21	0.22
Gold recovery rate	%	60.5 %	60.4 %
Gold produced	oz	18,086	37,410
Gold sold	oz	18,194	37,734

1.  Unit abbreviations: kt = 1,000 metric tonnes, g/t = grams per tonne, Au = gold, oz = troy ounce

The Florida Canyon Mine ("Florida Canyon") produced 18,086 ounces of gold and sold 18,194 ounces of gold during the second quarter 2025, in-line with the Company's expectations. Consistent gold production was supported by the recovery of gold ounces placed on the Phase IIIa heap leach pad in the first and second quarters of 2025, as well as residual ounces leached from Phase I and II heap leach pads. The increased strip ratio during the second quarter 2025 is a result of increased capitalized waste stripping as part of the Company's re-investment strategy at Florida Canyon, which was outlined in the Company's 2025 guidance. During the second quarter 2025 construction of the Phase IIIb heap leach pad at Florida Canyon was initiated, with commissioning expected in late 2025.

Second Quarter 2025 Financial Position

Financial Position as of June 30, 2025	Unit1
Cash and cash equivalents	$m	63.0

Posted In: ITRG TSXV:ITR