Integra Resources raises Florida Canyon reserve 74%, lifts cost guid

Integra Resources Corp. (TSXV: ITR; NYSE American: ITRG) released an updated feasibility study for its Florida Canyon Mine in Nevada on June 25, 2026, showing a 74% increase in Proven and Probable Mineral Reserves and projecting $0.8 billion in after-tax free cash flow over an 8-year mine life.

The study, prepared by Global Resource Engineering under National Instrument 43-101 standards, estimates Proven and Probable Mineral Reserves of 1.19 million ounces of gold, up from 685,000 ounces in the 2024 reserve statement. Total life-of-mine payable gold production is projected at 685,000 ounces, with average annual gold production rising 17% to approximately 82,000 ounces. The active mining period extends through 2033, followed by two years of residual heap leaching.

The base case after-tax net present value at a 5% discount rate is $601 million, using gold price assumptions ranging from $4,344 per ounce in 2026 to $3,600 per ounce from 2030 onward. The life-of-mine site-level all-in sustaining cost is estimated at $2,331 per ounce.

Integra plans $92 million in growth capital, including $55 million for heap leach pad expansion and $37 million for fleet modernization. Total sustaining and other capital over the mine life is estimated at $379.7 million.

The company also revised its 2026 site-level all-in sustaining cost guidance upward to $3,300–$3,500 per ounce, from a prior range of $2,750–$2,950, citing higher mining rates, inflationary pressure on diesel and explosives, lower first-quarter gold sales, and increased royalties tied to higher gold prices. The company maintained its 2026 gold production guidance of 70,000 to 75,000 ounces.

President and CEO George Salamis stated: "Florida Canyon is now expected to generate approximately $0.8 billion in after-tax free cash flow over an 8-year mine life, establishing Florida Canyon as the cash flow engine of Integra and providing the financial foundation to advance our development pipeline in Idaho and Nevada."

Integra acquired Florida Canyon in late 2024 for $68 million, according to the company's press release.

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