Integra Resources Corp. announced that through its wholly owned subsidiary, DeLamar Mining Company ("DMC"), it has exercised an option (the "Option") to acquire seventeen unpatented claims in the Rich Gulch area ("Rich Gulch") (the "Acquisition"). The Rich Gulch claims are located adjacent to the Florida Mountain Deposit at the DeLamar Project (the "Project" or "DeLamar") in southwestern Idaho.

Rich Gulch is approximately 2 kilometers (1.2 miles) west-southwest of the Florida Mountain Deposit at the base of the Jacobs Gulch stockpile. Control of the Rich Gulch claims at the Project will provide operational flexibility to the Company in future mining and processing scenarios. In the upcoming Feasibility Study, a Development Rock Storage Facility ("DRSF") will be located at Rich Gulch to accommodate mining activities at the adjacent Florida Mountain Deposit and Jacobs Gulch stockpile.

The Acquisition is expected to close on or about March 8, 2024. Upon closing of the Acquisition, DMC will acquire all of the member interests of Rich Gulch, LLC ("Rich Gulch LLC"), the undivided 100% owner of the Rich Gulch claims. The closing of the Acquisition is subject to the satisfaction of certain closing conditions and consents, including, but not limited to, the approval of the TSX Venture Exchange (the "TSXV"). Summary Terms of the Acquisition: Under the terms of an option agreement (the "Option Agreement") as between DMC and an arm's length vendor (the "Vendor"), DMC has the Option to purchase all of the member interests of Rich Gulch LLC (the "Interests") pursuant to a membership interest purchase agreement (the "MIPA"), to be entered into as between DMC and the Vendor.

DMC has exercised its option to enter into the MIPA. Under the terms of the MIPA, DMC will acquire all of the Interests in exchange for US$2,100,000 (the "Purchase Price"). The Purchase Price is to be satisfied through the issuance of common shares in the capital of the Company (the "Shares") based on the five-day volume weighted average price ("VWAP") of the Shares preceding the closing date of the Acquisition (the "Closing Date").

The MIPA provides that, notwithstanding the VWAP calculation, that in no event shall the number of Shares issued to the Vendor for the Interests be less than 840,000. The MIPA also provides that the parties to the MIPA acknowledge and agree that the regulations of the TSXV with respect to the setting of a floor issue price (that may be different than the VWAP calculation) will apply to the issuance of the Shares.