Integra Resources Commences Trading on TSXV

Toronto, Ontario – Integra Resources Corp. (TSXV:ITR) (“Integra” or the “Company”) is pleased to announce that its common shares have been approved for listing on the TSX Venture and will begin trading under the symbol “ITR” at market open on November 7th, 2017.

This announcement follows the recent acquisition of the DeLamar Gold and Silver Project (the “Property” or “Project”) from a wholly-owned subsidiary of Kinross Gold Corporation (“Kinross”) in Southern Idaho. The past producing 9,400 acre site has a maiden inferred resource of 2,673,000 oz of gold equivalent (“AuEq”) averaging 0.7 g/t AuEq at a 0.3 g/t AuEq cut-off grade, or alternatively employing a higher cut-off grade of 0.75 g/t AuEq, a resource of 1,356,000 oz AuEq averaging 1.26 g/t AuEq (see Table 1 below for a summary of the initial mineral resource estimate.)

Project Highlights

  • Under the Radar Opportunity: The Project has been absent from the investing public’s consideration, sitting idle in the Kinross asset portfolio since it was put on care and maintenance in 1998 following low metal prices that caused industry-wide shut downs.
  • Attractive Valuation Given Robust Initial Inferred Resource: Maiden inferred resource estimate portrays Integra at an attractive valuation on an Enterprise Value/Total Resources ($US/oz AuEq)* basis of between $8 and $15/oz depending on cut-off grade (based on pricing from its recent financing), versus an industry average EV/oz of approximately $48/oz.* Includes measured, indicated and inferred resources. Equivalency includes gold and silver and is calculated using long-term consensus. As of November 1, 2017. Source: Bloomberg, FactSet, company disclosure
  • Attractive Share Structure: Integra Resources has 56.2 million shares outstanding. 32.1 million shares were issued as part of the recent financing; the 5.5 million shares that were issued to Kinross as part of the DeLamar acquisition are subject to a 12 month hold period.
  • Capitalized for Aggressive Exploration Campaign: The Company currently has a treasury of over C$20 million to deploy on an aggressive exploration program to be conducted over the next 12-18 months.
  • Significant Exploration Potential: The site operated with limited exploration budgets for the past 30 years, with the last exploration taking place in the early 1990’s. Past shallow drilling, down to anaverage depth of 120 m, focused on defining near-surface low-grade bulk-mineable resources, which constitutes the majority of the gold-silver ounces included in the recently announced robust initial inferred resource estimate for DeLamar.
  • High-grade zones remain largely untested: The high-grade zones historically mined underground in the late 1800’s and early 1900’s have seen very limited historic drilling beyond a depth of 200 meters. The limited drill hole data available, highlighting the largely untested high-grade potential, includes drill intercepts which have intersected a series of high-grade veins within 150 meters of surface, including:
    • 105.4 g/t Au and 41.0 g/t Ag (105.9 g/ AuEq) over 10.7 metres; Number 1 Vein, DeLamar
    • 10.1 g/t Au and 116.6 g/t Ag (11.5 g/t AuEq) over 18.3 metres; Ohio Stockwork, DeLamar
    • 10.1 g/t Au and 188.1 g/t Ag (12.3 g/t AuEq) over 18.3 metres; South Wahl, DeLamar
  • 20,000 Meter Drill Program: the company has planned a 20,000 meter drill program which it expects to commence in Q1 of 2018. Initial targets will include the series of high-grade veins, known to sit immediately below the low-grade resource which have seen very limited past drilling and are largely un-tested with modern exploration techniques and interpretations
  • Ahead of the Curve: The Company is commencing its trajectory with a large database of information. The current DeLamar digital database hosts more than 1500 drill holes along with a wealth of historical data (geology, mining and metallurgy) spanning more than 40 years. The Company plans to use this large database to its full advantage, identifying new targets using the latest in modern screening methods as the management team has done in the past at Integra Gold.
  • Florida Mountain Property: On or before Q1 2018 Integra is scheduled to complete an acquisition of the neighboring Florida Mountain property.

“The newly formed Integra Resources brings together an industry recognized management team in a well- funded new public company, with over $20M in cash and an enviable roster of new shareholders, all underpinned by a significant gold-silver resource situated in a first-world jurisdiction boasting excellent upside potential for further discoveries,” stated George Salamis, President and CEO. “With the acquisition from Kinross and successfully oversubscribed financing now behind us, the Integra Resources team looks forward to methodically advancing the brownfields DeLamar Gold-Silver Project with aggressive drilling, field exploration news, and periodic resource updates as we work towards a Preliminary Economic Assessment over the next 12 to 18 months. We are especially looking forward to initiating the first drilling program in Q1 2017, the first drill program in almost 25 years at DeLamar”.

Summary of the Initial Mineral Resource Estimate

Table 1. Sensitivity analysis of grade and tonnage at varying pit-constrained cut-off grades on the DeLamar Project12345

Cutoff Tonnes g Au/t oz Au g Ag/t oz Ag g AuEq/oz Eq Au oz

























































  1. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
  2. Mineral Resources are comprised of all model blocks with gold-equivalent values greater than or equal to 0.30 g/t that lie within an optimized pit and below the as-mined surface.
  3. Gold equivalent = g Au/t + (g Ag/t ÷ 85)
  4. Rounding may result in apparent discrepancies between tonnes, grade, and contained metal content.
  5. The effective date of the mineral resource estimate is October 1, 2017.

To see the news release on the maiden inferred resource estimate on the DeLamar gold-silver project, please click the following link:

About Integra Resources

Integra Resources Corp., formerly, Mag Copper Limited, is a development-stage company engaged in the acquisition, exploration and development of mineral properties in the Americas. Its flagship asset, the DeLamar Gold and Silver project, lies in the heart of the historic Owyhee County mining district in south western Idaho. The management team comprises the former executive team from Integra Gold Corp.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Gary Edmondo of Reno, Nevada who is a “qualified person” within the meaning of National Instrument 43- 101 – Standards of Disclosure for Mineral Projects and is independent of Integra.


George Salamis

CEO & President


Corporate Inquiries: Chris Gordon,

Or visit the company website:

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: anticipated use of proceeds from the Offering; the completion of the Acquisition; the anticipated benefits of Acquisition to the Company and their respective shareholders; the timing and receipt of the required stock exchange, regulatory and other approvals for the Acquisition; the timing and ability of the Company to satisfy the Escrow Release Conditions and the conditions precedent to completing the Acquisition; completion of the acquisition of the Florida Mountain claims; anticipated advancement of mineral properties or programs; future operations; future exploration prospects; future growth potential of Integra; future development plans; and the future growth potential of the Company.

These forward-looking statements are based on reasonable assumptions and estimates of management of Integra at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Integra to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: satisfaction or waiver of all applicable conditions to the completion of the Acquisition and the Escrow Release Conditions (including receipt of all necessary stock exchange and regulatory approvals or consents, and the absence of material changes with respect to the parties and their respective businesses, all as more particularly set forth in the Stock Purchase Agreement); possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; actual results of reclamation activities; conclusions of future economic evaluations; the synergies expected from the Acquisition not being realized; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties. Although the forward-looking statements contained in this news release are based upon what management of Integra believes, or believed at the time, to be reasonable assumptions, Integra cannot assure its shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended.

Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Integra assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.