Integra Resources Boosts Long-Term Gold Outlook With $55M Investment in Florida Canyon Mine
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 |
① During the campaign period, US stocks, US stocks short selling, US stock options, Hong Kong stocks, and A-shares trading will maintain at $0 commission, and no subscription/redemption fees for mutual fund transactions. $0 fee offer has a time limit, until further notice. For more information, please visit: https://www.webull.hk/pricing
Webull Securities Limited is licensed with the Securities and Futures Commission of Hong Kong (CE No. BNG700) for carrying out Type 1 License for Dealing in Securities, Type 2 License for Dealing in Futures Contracts and Type 4 License for Advising on Securities.
English