Idaho Strategic Resources announced its first drill results from the Diamond Creek REE Project in Lemhi County, Idaho. Diamond Creek is a well-recognized rare earth element occurrence, which is listed as a top ten domestic source of REE's in various USGS documents. Although it has a published resource, it is based on surface sampling only and is unverified.

Previous to this year's drilling only two shallow core holes were completed in 2012 with unknown results. The company objective this year was to verify the existence of REE mineralization, assess the grades and examine the extents of this potential resource. The deposits in the Diamond Creek area are of two types: fracture filling and replacement, with the replacement bodies being composed of bright and varied oxides.

Much of the core drilling was in the Lucky Gem area where strong REE mineralization at surface was also encountered A rough geometry developed from drillholes 5, 6 and 7; placed drillhole DC 22-8 in position to drill down dip through the shallow dipping replacement body. The drillhole collared into a fault and encountered REE mineralization immediately after the fault, which continued for 50.3 meters before the hole was lost. The intercept highlights below are in percent total rare earth oxide (TREO) and in percent Niobium (Nb) with drilled thickness, as vein orientations have yet to be determined.

An appealing characteristic with Diamond Creek and other properties in the Idaho Rare Earth Element-Thorium Belt (Idaho REE-Th Belt) is the abundance of neodymium (Nd). The Company had three assays that were greater than 3000 ppm or 0.3% neodymium. In addition to the validation of REEs through the drill bit, another equally important discovery was made; the strong occurrence of Niobium (Nb).

Core hole DC 22-8 showed intense enrichment of Niobium, with 0.7% Nb over 10.1m, including 10,000 ppm Nb (1%) over 0.5m. While Niobium is an equally important critical mineral, it is not one of the 17 rare earth elements and not included in TREO calculations. It is considered a positive addition and its potential value to the project (and possibly to the value of a future mineral concentrate) is not yet known.

Company plan to build upon this discovery. The table below shows assays for the rare earth elements and niobium throughout the 2.9m to 14.2m interval in DC 22-8. The known rare earth element mineralization occurs along a 2-mile length of the Diamond Creek Fault. The project consists of four distinct areas identified as, from north to south: Contact, Lucky Gem, Cymer, and Frank Burch.

The 2022 drill program tested two areas: the Contact and Lucky Gem areas in the north. The next phase of drilling at Diamond Creek has been planned and submitted for approval to the USFS. The next phase drill plan will extend to the Cymer area in the southern portion of the property.