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INTEGRA ANNOUNCES CLOSING OF ROYALTY TRANSACTION WITH WHEATON PRECIOUS METALS AND RECEIPT OF FIRST CASH INSTALLMENT OF US$4.875 MILLION

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INTEGRA ANNOUNCES CLOSING OF ROYALTY TRANSACTION WITH WHEATON PRECIOUS METALS AND RECEIPT OF FIRST CASH INSTALLMENT OF US$4.875 MILLION

 

 

 

 

 

Integra Resources Corp. (TSX-V: ITR) (NYSE American: ITRG) is pleased to announce that is has closed the previously announced royalty transaction between its wholly-owned subsidiary, DeLamar Mining Company, and Wheaton Precious Metals (Cayman) Co., a wholly-owned subsidiary of Wheaton Precious Metals Corp. pursuant to which Wheaton acquired a 1.5% net smelter returns royalty on metal production from all claims of the DeLamar and Florida Mountain Deposit for an aggregate cash purchase price of US$9.75 million, to be paid in two installments (the “Transaction”). Integra has received the first installment of US$4.875 million and expects to receive the second installment of US$4.875 million in approximately four months, subject to certain closing conditions. The net proceeds from the Transaction will be used for the continued development of DeLamar, including work to support a Feasibility Study and the advancement of the National Environmental Policy Act permitting process in the United States.

 

Integra’s President, CEO & Director, Jason Kosec, commented: “We are pleased to close the royalty transaction with Wheaton and receive the first installment payment of US$4.875 million, which will be used directly for the advancement of DeLamar toward a construction decision. The Transaction represents a significant endorsement for both the quality of the DeLamar project and the team at Integra. We would like to thank Wheaton for the continued support in helping us achieve our ultimate goal of becoming a leading U.S. focused gold and silver producer.”

 

Qualified Person

 

The scientific and technical information contained in this news release has been reviewed and approved by Raphael Dutaut, Ph.D (P.Geo), Integra’s Vice President, Exploration. Mr. Dutaut is a “qualified person” as defined in National Instrument 43- 101 – Standards of Disclosure for Mineral Projects.

 

DeLamar Project Overview

 

The past producing DeLamar Project, which includes the adjacent DeLamar and Florida Mountain gold and silver deposits, is located in Owyhee County in southwest Idaho. Since acquiring the Project in 2017, the Company has demonstrated significant resource growth and conversion while demonstrating robust economic studies in its maiden Preliminary Economic Assessment and Preliminary Feasibility Study. An independent technical report for the DeLamar Project has been prepared in accordance with the requirements of NI 43-101 and is available under the Company’s profile at www.sedarplus.ca

 

About Integra Resources

 

Integra is one of the largest precious metals exploration and development companies in the Great Basin of the Western U.S. Integra is currently focused on advancing its two flagship oxide heap leach projects: the past producing DeLamar Project located in southwestern Idaho and the Nevada North Project, comprised of the Wildcat and Mountain View deposits, located in northwestern Nevada. The Company also holds a portfolio of highly prospective early-stage exploration projects in Idaho, Nevada, and Arizona. Integra’s long-term vision is to become a leading U.S. focused mid-tier gold and silver producer.

 

Posted March 10, 2024

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