Interview with George Salamis, President & CEO of Integra Resources Corp.

Our previous interview: https://www.cruxinvestor.com/posts/integra-resources-tsxvitr-strong-q1-gold-production-61m-cash-position-7023

Recording date: 8th May 2025

Integra Resources is transforming from a development company into a U.S.-based gold producer following its acquisition of Nevada's Florida Canyon mine in late 2024. The company now balances a producing asset with two development-stage projects, including its flagship Delamar project in Idaho.

At Florida Canyon, Integra has launched a strategic 10,000-meter drill program targeting mine life extension. The campaign focuses on previously underexplored areas including historical mine dumps, zones between existing pits, and lateral extensions. CEO George Salamis describes these targets as "low-hanging fruit" with potential to consolidate multiple smaller pits into larger operations.

A key advantage in Integra's approach is self-funding exploration through operational cash flow from Florida Canyon, reducing dependency on capital markets and avoiding shareholder dilution. This financial independence allows the company to execute multi-phase exploration without needing additional equity raises.

The current gold price environment creates opportunities to reprocess previously uneconomic low-grade material that was mined when gold traded at $1,000-$1,200 per ounce. Salamis believes the updated resource estimate expected by early 2026 could extend mine life from six to potentially eight or nine years.

Beyond immediate operations, Integra controls a highly prospective 10-kilometer trend and plans to begin regional drilling in late 2025, synthesizing decades of historical data with expert input from former exploration managers.

The company is benefiting from a favorable U.S. policy environment that increasingly views domestic gold production as strategically important. Salamis reports unprecedented regulatory support, with officials suggesting ways to accelerate permitting from "five to seven years" down to "a year or two."

This dual approach of extending existing operations while exploring regional potential positions Integra to appeal to both production-focused investors seeking cash flow and margins, and exploration-oriented shareholders looking for discovery upside in a supportive regulatory environment.

View Integra Resources' company profile: https://www.cruxinvestor.com/companies/integra-resources

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