TSXV: ITR; NYSE American:
ITRG
www.integraresources.com
VANCOUVER, BC, Jan. 10,
2025 /CNW/ - Integra Resources Corp. ("Integra" or
the "Company") (TSXV: ITR) (NYSE American: ITRG) announces that
Integra's Board of Directors (the "Board") has appointed George
Salamis as President, Chief Executive Officer & Director and
Anna Ladd-Kruger as Chair of the
Board, effective immediately. Mr. Salamis succeeds Jason Kosec as Integra's President and Chief
Executive Officer. Mr. Kosec has also resigned as a Director of the
Company.
Anna Ladd-Kruger, Chair of the
Board of Directors of Integra stated: "This is a natural time to
transition our leadership as we pursue our vision of becoming a
leading precious metals producer in the Great Basin region. George
will seamlessly step back into the role of Chief Executive Officer,
a position he held upon founding Integra in 2017. George will
leverage the knowledge he has gained over 30 years working in the
global mining industry, including with major mining operators
Placer Dome and Cameco. He will lead the team with a focus on our
two strategic priorities: reaching sustained profitability and
operational excellence at our Florida Canyon Mine in Nevada and advancing our built-in growth
pipeline through the DeLamar and Nevada North development projects,
with an emphasis on permitting during a pivotal time for natural
resource development in the US. On behalf of the Board, we would
like to thank Jason for his contributions to Integra and we wish
him all the best in his future pursuits."
George Salamis, President, CEO & Director, commented: "We
are grateful for Jason's contributions to Integra, including the
role he played in consolidating Integra's exploration, development
and producing assets in Nevada and
Idaho. By bringing these assets
together, Jason helped to establish a strategic path for Integra to
become a growing precious metals producer in the Great Basin of the
Western United States. We
move forward on this path with energy, knowing our Florida Canyon
Mine will play a crucial role in realizing our vision. Over the
course of 2025, we will strengthen our robust operating and
development teams, adding mining expertise and production
excellence to our executive team. Our goal is to announce a new
Chief Operating Officer during Q1 2025 and have an expanded
operations team in place by early 2026."
"The cash flow we generate at the Florida Canyon mine will
support both the mine's own resiliency as it continues producing
reliable value, as well as the accelerated advancement of the
DeLamar Project" stated Mr. Salamis. "We will aim to initiate the
federal permitting process for DeLamar in 2025, carefully timed as
the new federal administration settles into its new roles, and
begin executing on policies that bring jobs and investments back to
the US and build up local supply chains. There has never been a
more exciting time to pursue responsible mining development and
sustainable operations in the US."
Jason Kosec added, "It has been a
privilege to build a high-quality asset portfolio at Integra,
during a time when the industry needed consolidation. I will be
available to the team to ensure a smooth transition of
responsibilities and look forward to realizing value as a
shareholder."
Anna Ladd-Kruger has played a
pivotal role in Integra's growth trajectory since she was appointed
to the Board in 2018, as Director and Audit Chair. Anna has over 25
years of industry experience, progressing her career through
financial and operational leadership roles at several Canadian
publicly listed mining companies. She holds experience in various
stages of the mining process from exploration to
multi-jurisdictional operations. Anna's extensive executive and
director level experience for numerous junior and mid-tier
producers ideally positions her to lead Integra through the next
phase of growth as a producing company.
Since founding the Company in 2017, after co-leading the
successful sale of Integra Gold to Eldorado Gold for C$590 million as Executive Chairman, Mr. Salamis
has been either President and CEO or Executive Chair of Integra,
fostering collaborative working relationships across the capital
markets, shareholders, and stakeholders in Idaho and Nevada. He has assembled a strategic Board of
Directors purpose-built to advance natural resource development in
the Great Basin region, during a time when US federal policy is
shifting to prioritize domestic mineral production and reduce
reliance on foreign supply chains.
About Integra Resources
Integra is a growing precious metals producer in the Great Basin
of the Western United States.
Integra is focused on demonstrating profitability and operational
excellence at its principal operating asset, the Florida Canyon
Mine, located in Nevada. In
addition, Integra is committed to advancing its flagship
development-stage heap leach projects: the past producing DeLamar
Project located in southwestern Idaho and the Nevada North Project located in
western Nevada. Integra creates
sustainable value for shareholders, stakeholders, and local
communities through successful mining operations, efficient project
development, disciplined capital allocation, and strategic M&A,
while upholding the highest industry standards for environmental,
social, and governance practices.
ON BEHALF OF THE BOARD OF DIRECTORS
George Salamis
President, CEO & Director
Forward Looking and Other Cautionary Statements
Certain information set forth in this news release contains
"forward‐looking statements" and "forward‐looking information"
within the meaning of applicable Canadian securities legislation
and applicable United States
securities laws (referred to herein as forward‐looking statements).
Except for statements of historical fact, certain information
contained herein constitutes forward‐looking statements which
includes, but is not limited to, statements with respect to: Board
and management changes including, but not limited to, plans to
announce a new Chief Operating Officer and expanded operations
team; cash flow and use thereof; project permitting; the
future financial or operating strategies, goals and performance of
the Company and the Company's mineral properties and project
portfolio; the results from work performed to date; the estimation
of mineral resources and reserves; the realization of mineral
resource and reserve estimates; the development, operational and
economic results of technical reports on mineral properties
referenced herein; magnitude or quality of mineral deposits; the
anticipated advancement of the Company' mineral properties and
project portfolios; exploration expenditures, costs and timing of
the development of new deposits; underground exploration potential;
costs and timing of future exploration; the completion and timing
of future development studies; estimates of metallurgical recovery
rates; exploration prospects of mineral properties; requirements
for additional capital; the future price of metals; government
regulation of mining operations; environmental risks; the timing
and possible outcome of pending regulatory matters; the realization
of the expected economics of mineral properties; future growth
potential of mineral properties; and future development plans.
Forward-looking statements are often identified by the use of
words such as "may", "will", "could", "would", "anticipate",
"believe", "expect", "intend", "potential", "estimate", "budget",
"scheduled", "plans", "planned", "forecasts", "goals" and similar
expressions. Forward-looking statements are based on a number of
factors and assumptions made by management and considered
reasonable at the time such information is provided. Assumptions
and factors include: availability of skilled labour; the Company's
ability to complete its planned exploration and development
programs; the absence of adverse conditions at the Company's
mineral properties; satisfying ongoing covenants under the
Company's loan facilities; no unforeseen operational delays; no
material delays in obtaining necessary permits; results of
independent engineer technical reviews; the possibility of cost
overruns and unanticipated costs and expenses; the price of gold
and silver; the Company's ability to continue raising necessary
capital to finance operations; and the ability to realize on the
mineral resource and reserve estimates. Forward-looking
statements involve significant known and unknown risks and
uncertainties, which could cause actual results to differ
materially from those anticipated. These risks include, but are not
limited to: general business, economic and competitive
uncertainties; the actual results of current and future exploration
activities; conclusions of economic evaluations; meeting various
expected cost estimates; benefits of certain technology usage;
changes in project parameters and/or economic assessments as plans
continue to be refined; future prices of metals; possible
variations of mineral grade or recovery rates; the risk that actual
costs may exceed estimated costs; geological, mining and
exploration technical problems; failure of plant, equipment or
processes to operate as anticipated; accidents, labour disputes and
other risks of the mining industry; delays in obtaining
governmental approvals or financing; the speculative nature of
mineral exploration and development (including the risks of
obtaining necessary licenses, permits and approvals from government
authorities); title to properties; and management's ability to
anticipate and manage the foregoing factors and risks. Although the
Company has attempted to identify important factors and risks that
could cause actual actions, events or results to differ materially
from those described in the forward-looking statements, there may
be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. Readers are advised to study
and consider risk factors disclosed in Integra's annual report on
Form 20-F dated March 28, 2024 for
the fiscal year ended December 31,
2023 and Florida Canyon Gold Inc.'s listing application on
TSX Venture Exchange Form 2B, each of which are available on the
respective SEDAR+ issuer profiles for the Company and Florida
Canyon Gold Inc. available at www.sedarplus.ca.
There can be no assurance that forward‐looking statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. The
Company undertakes no obligation to update forward‐looking
statements if circumstances or management's estimates or opinions
should change except as required by applicable securities laws. The
forward-looking statements contained herein are presented for the
purposes of assisting investors in understanding the Company's
plans, objectives and goals, and may not be appropriate for other
purposes. Forward-looking statements are not guarantees of future
performance and the reader is cautioned not to place undue reliance
on forward‐looking statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/integra-announces-leadership-transition-302347909.html
SOURCE Integra Resources Corp.