# EDGAR Filing Document

**Accession Number:** 0001030192
**File Stem:** 0001654954-26-002695
**Filing Date:** 2026-3
**Character Count:** 20291
**Document Hash:** 1849c6dd8ee27bd600e51b20fa6d2f97
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001654954-26-002695.hdr.sgml**: 20260324

**ACCESSION NUMBER**: 0001654954-26-002695

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20260324

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260324

**DATE AS OF CHANGE**: 20260324

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Idaho Strategic Resources, Inc.
- **CENTRAL INDEX KEY:** 0001030192
- **STANDARD INDUSTRIAL CLASSIFICATION:** GOLD & SILVER ORES [1040]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 820490295
- **STATE OF INCORPORATION:** ID
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41320
- **FILM NUMBER:** 26787075

**BUSINESS ADDRESS:**
- **STREET 1:** 201 N. 3RD STREET
- **CITY:** COEUR D'ALENE
- **STATE:** ID
- **ZIP:** 83814
- **BUSINESS PHONE:** (208) 625-9001

**MAIL ADDRESS:**
- **STREET 1:** 201 N. 3RD STREET
- **CITY:** COEUR D'ALENE
- **STATE:** ID
- **ZIP:** 83814

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NEW JERSEY MINING CO
- **DATE OF NAME CHANGE:** 20000107

?xml version='1.0' encoding='ASCII'? idr_8k.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**Current Report**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

Date of Report (Date of Earliest Event Reported):

March 24, 2026

Commission file number: 001-41320

![idr_8kimg1.jpg](idr_8kimg1.jpg)

---

| |
|:---|
| **IDAHO STRATEGIC RESOURCES, INC.** |
| **(Exact Name of Registrant as Specified in its Charter)** |

---

---

| | |
|:---|:---|
| **Idaho** | **82-0490295** |
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |

---

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| | |
|:---|:---|
| **201 N. 3rd Street, Coeur d'Alene, ID** | **83814** |
| (Address of principal executive offices)  | (zip code) |

---

Registrant's telephone number, including area code: **<u>(208) 625-9001</u>**

**<u>N/A</u>**

(Former Name or Former Address if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐&nbsp;&nbsp;&nbsp;&nbsp; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(g) of the Act:

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| | | |
|:---|:---|:---|
| **Title of Each Class** | **Trading Symbol(s)** | **Name of Each Exchange on**<br>**Which Registered** |
| Common Stock, no par value | IDR | NYSE American |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b–2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 7.01 Regulation FD Disclosure.** 

The Company issued a press release on March 23, 2026 announcing its consolidated operating and financial results for the year ending December 31, 2025.

A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference. The information in this Current Report on Form 8-K (including the exhibits) is furnished pursuant to Item 7.01 and shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. This Current Report on Form 8-K will not be deemed an admission as to the materiality of any information in the Report that is required to be disclosed solely by Regulation FD.

**Item 9.01. Financial Statements and Exhibits**

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| | |
|:---|:---|
| **d) Exhibits** | **d) Exhibits** |
| [99.1](idr_ex991.htm) | [Press Release, dated March 23, 2026 entitled "**Idaho Strategic Reports Record Operating and Financial Performance for 2025 -** *Annual revenue increased 64.6% to a record $42,406,253, resulting in earnings per diluted share of $1.14 and three consecutive years of GAAP profitability - Proven and Probable Reserves at the Golden Chest Mine increased 53.2% as a result of positive conversion drilling efforts in 2025-Ended the year with cash and investments totaling $73,308,507"*](idr_ex991.htm) |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;\*The foregoing exhibit relating to Item 7.01 is intended to be furn1ished to, not filed with, the SEC pursuant to Regulation FD. |

---

2<br>

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | |
|:---|:---|
| **IDAHO STRATEGIC RESOURCES, INC.** | **IDAHO STRATEGIC RESOURCES, INC.** |
| By: | /s/ John Swallow |
| John Swallow<br>Its: President & CEO<br>Date: March 24, 2026 | John Swallow<br>Its: President & CEO<br>Date: March 24, 2026 |

---

3<br>

## Exhibit 99.1

**EXHIBIT 99.1**

![](idr_ex991img1.jpg)

**Idaho Strategic Reports Record Operating and Financial**

**Performance for 2025**

*Annual revenue increased 64.6% to a record $42,406,253, resulting in earnings per diluted*

*share of $1.14 and three consecutive years of GAAP profitability*

*Proven and Probable Reserves at the Golden Chest Mine increased 53.2% as a result of positive*

*conversion drilling efforts in 2025*

*Ended the year with cash and investments totaling $73,308,507*

COEUR D'ALENE, Idaho, March 23, 2026 (BUSINESS WIRE) – <u>Idaho Strategic Resources, Inc.</u> (NYSE American: IDR) ("IDR", "Idaho Strategic" or the "Company") today announced its consolidated operating and financial results for the year ending December 31, 2025. IDR achieved record annual gold production and financial performance during 2025 while drilling the most meters in a single year in Company history. Key highlights include:

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| | | | |
|:---|:---|:---|:---|
| **Operational** <br> **Performance:** | **2025** | **% Change** | **2024** |
| Ore Tonnes Processed | 41840 | 1.7% | 41140  |
| Average Flotation Feed Grade (gpt) | 10.14 | 4.9% | 9.67 |
| Ounces Produced | 12538 | 5.2% | 11915 |
| All-In Sustaining Cost Per Ounce ($USD) | $1891.79 | 28.3% | $1474.05 |

---

*\*Adjusted all-in sustaining costs excluding exploration expenses were $1,494.75 in 2025 and $1,256.16 in 2024.*

---

| | | | |
|:---|:---|:---|:---|
| **Financial** <br> **Performance ($USD):** | **2025** | **% Change** | **2024** |
| Revenue | $42406253 | 64.6% | $25765373 |
| Total Cost of Sales | $16200326 | 26.4% | $12814880 |
| Gross Profit | $26205927 | 102.4% | $12950493 |
| Net Income Attributable to IDR | $16715674 | 89.2% | $8836685 |
| Earnings Per Share - Diluted (EPS) | $1.14 | 70.1% | $0.67 |

---

Idaho Strategic's CEO and President, John Swallow stated, "Across the board 2025 was a very strong year for the Company. I continue to be impressed with our team's ability to navigate the buildout of the Murray Mill, new warehouse/dry facilities, and expanded exploration programs while maintaining disciplined operations. I firmly believe we are building the all-star team at Idaho Strategic, and our financial and operational performance in 2025 serves as evidence. I am looking forward to the day that our entire team is consolidated to the Golden Chest Mine and we can begin to experience the true efficiencies that come with having everyone at one location working together."

Idaho Strategic Resources • 201 N. 3<sup>rd</sup> Street • Coeur d'Alene, Idaho 83814

**Golden Chest Highlights for 2025 Include:**

· Produced a total of 12,538 ounces of gold contained in concentrates and doré primarily from the high-grade H-Vein at the Golden Chest mine.

· Mined and processed 41,840 tonnes of ore from the H-Vein underground at the Golden Chest Mine at an average grade of 10.14 gpt gold with recoveries of 93.0%.

· Completed 19,162 meters of core drilling at the Golden Chest Mine at the Paymaster, H-Vein, Red Star, Jumbo, and Klondike areas. About half of the meterage was dedicated to converting Paymaster Mineral Resources to Mineral Reserves, leading to a 53.2% increase in Mineral Reserves.

· A highlight of 2025 exploration was drifting from the Jumbo Pit portal that intercepted the Jumbo vein and found 25 meters of vein strike length with an average thickness of 0.52 meters at a gold grade of 85 gpt.

**Rare Earth Highlights for 2025 include:**

· Executed a long-term lease agreement for the mineral claims comprising approximately 1,500 acres of various in-holdings within the Company's Mineral Hill and Lemhi Pass REE projects. Key prospects covered by the mineral claims leased by the Company include Cardinal (Mineral Hill), Lucky Horseshoe (Lemhi Pass, Idaho), Silver Queen (Lemhi Pass, Idaho), Last Chance (Lemhi Pass, Montana), Trapper (Lemhi Pass, Montana), and other prospects.

· Sampled greater than 17.6% total rare earth oxides from the Cardinal prospect.

· Announced the signing of a Memorandum of Understanding with Clean Core Thorium Energy, Inc. ("CCTE") to evaluate the feasibility of thorium mining, processing, and fuel fabrication to facilitate a "Made in America" thorium-based nuclear fuel supply chain.

· Announced the discovery of a carbonatite with strong REE mineralization at the Lucky Horseshoe prospect within the Lemhi Pass project. Initial samples taken from outcrop assayed up to 6.14% total rare earth oxides with ratios of 65% magnet rare earth oxides (Nd, Pr, Dy, Tb) and 11% SEG oxides (Sm, Eu, Gd).

· Initiated a large-scale geophysics program across its Mineral Hill and Lemhi Pass projects including LiDAR, magnetics, and radiometrics surveys.

· Completed a soil sampling program covering many key prospects across the Idaho portion of its Lemhi Pass project. The program successfully identified areas of anomalous REEs in soils which will be utilized to aid in the planning of drill programs and other future exploration work.

Mr. Swallow concluded, "Simply put, commodities are once again becoming a viable American industry, and I continue to believe that our Company is well-positioned for this new secular reality. We operate a gold mine in a safe jurisdiction at a time when gold has surpassed the Euro to become the second-largest world reserve asset, the U.S. is rapidly increasing its national debt, and the current presidential administration is openly calling for reduced interest rates (within the backdrop of ever-changing cross currents). We also control the largest exploration-stage rare earth elements landholdings in the country at a time when the current U.S. administration is focused on reducing our dependence on foreign sources for rare earth elements, which are critical inputs to the very defense technologies that are being consumed daily across an increasing number of global conflicts.

Idaho Strategic Resources • 201 N. 3<sup>rd</sup> Street • Coeur d'Alene, Idaho 83814

Our foundation is built on gold production, and while the price of gold has begun its next phase of consolidation, it is important to realize that the current gold price of approximately $4,500 per ounce is roughly 25% higher than our average realized gold price of $3,583 in 2025. Additionally, as an underground mine connected to an electric grid that is approximately 60% supplied with hydroelectric power, we are relatively well insulated from the larger drivers of cost inflation that many open-pit operations are exposed to.

As always, we will continue to focus on what we can control. Our goals for 2026 are to safely grow production at the Golden Chest Mine while advancing the buildout of the Murray Mill facility. We want to prove that the Murray Gold Belt District, which we have spent the last 10 years consolidating, is a major overlooked mineral district, and we will advance our exploration efforts across our vast rare earth elements landholdings to increase the potential for a major rare earth elements discovery.

I am pleased with our performance so far and looking forward to the rest of 2026."

Notes accompanying the financial statements below can be found in the Company's quarterly report filed this morning with the SEC on EDGAR.

<u>Qualified person</u>

IDR's Vice President, Grant A. Brackebusch, P.E. is a qualified person as such term is defined under S-K 1300 and has reviewed and approved the technical information and data included in this press release.

**<u>About Idaho Strategic Resources, Inc.</u>**

Idaho Strategic Resources (IDR) is an Idaho-based gold producer which also controls the largest rare earth elements land package in the United States. The Company's production-backed business plan was established in anticipation of today's volatile geopolitical and macroeconomic environment. In addition to gold and gold production, the Company has built a substantial land position in Idaho, providing significant exploration exposure to gold and rare earth elements - in addition to thorium, copper, and silver. IDR finds itself in a unique position as the only publicly traded company with growing gold production and significant blue-sky potential for discovery and development in one Company.

For more information on Idaho Strategic Resources, visit <u>www.idahostrategic.com</u> or call:

Travis Swallow, Investor Relations & Corporate Development

Email: <u>tswallow@idahostrategic.com</u>

Phone: (208) 625-9001

Idaho Strategic Resources • 201 N. 3<sup>rd</sup> Street • Coeur d'Alene, Idaho 83814

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| | | |
|:---|:---|:---|
| **Idaho Strategic Resources, Inc.**<br> **Consolidated Statements of Operations**<br> **For the Years Ended December 31, 2025 and 2024** | **Idaho Strategic Resources, Inc.**<br> **Consolidated Statements of Operations**<br> **For the Years Ended December 31, 2025 and 2024** | **Idaho Strategic Resources, Inc.**<br> **Consolidated Statements of Operations**<br> **For the Years Ended December 31, 2025 and 2024** |
|  | **2025** | **2024** |
| Revenue-gold sales | $42406253 | $25765373 |
| Cost of sales: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cost of sales and other direct production costs | 13862226 | 10861492 |
| &nbsp;&nbsp;&nbsp;&nbsp; Depreciation and amortization | 2338100 | 1953388 |
| Total cost of sales | 16200326 | 12814880 |
| Gross profit | 26205927 | 12950493 |
| Other operating expenses: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Exploration | 7637435 | 2920535 |
| &nbsp;&nbsp;&nbsp;&nbsp; Loss on disposal of equipment | 343945 | 1431 |
| &nbsp;&nbsp;&nbsp;&nbsp; Management | 945579 | 407715 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional services | 585145 | 432237 |
| &nbsp;&nbsp;&nbsp;&nbsp; General and administrative | 1092822 | 763040 |
| Total other operating expenses | 10604926 | 4524958 |
| Income from operations | 15601001 | 8425535 |
| Other (income) expense: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Equity income on investment in Buckskin Gold and Silver, Inc. | (3646) | (2667) |
| &nbsp;&nbsp;&nbsp;&nbsp;(Gain) loss on investment in equity securities and mutual funds | (110092) | 453 |
| &nbsp;&nbsp;&nbsp;&nbsp; Timber revenue | (9679) | (19406) |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividend income | (50881) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest income | (1282045) | (389517) |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest expense | - | 83295 |
| Total other (income) expense | (1456343) | (327842) |
| Income before income taxes | 17057344 | 8753377 |
| &nbsp;&nbsp;&nbsp;&nbsp; Income tax expense | 426146 |  |
| **Net income** | **16631198** | **8753377** |
| Net loss attributable to non-controlling interest | (84476) | (83308) |
| Net income attributable to Idaho Strategic Resources, Inc. | $16715674 | $8836685 |
| Net income per common share-basic | $1.15 | $0.68 |
| Weighted average common shares outstanding-basic | 14489196 | 13026487 |
| Net income per common share-diluted | $1.14 | $0.67 |
| Weighted average common shares outstanding-diluted | 14701346 | 13197308 |

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Idaho Strategic Resources • 201 N. 3<sup>rd</sup> Street • Coeur d'Alene, Idaho 83814

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| | | |
|:---|:---|:---|
| **Idaho Strategic Resources, Inc.**<br> **Consolidated Balance Sheets**<br> **December 31, 2025 and 2024** | **Idaho Strategic Resources, Inc.**<br> **Consolidated Balance Sheets**<br> **December 31, 2025 and 2024** | **Idaho Strategic Resources, Inc.**<br> **Consolidated Balance Sheets**<br> **December 31, 2025 and 2024** |
|  | **2025** | **2024** |
| **ASSETS** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash and cash equivalents | $9889765 | $1106901 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment in US treasury notes | 27679881 | 7775193 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment in equity securities | 4129521 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment in mutual funds | 3957497 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Gold sales receivable | 3912922 | 1578694 |
| &nbsp;&nbsp;&nbsp;&nbsp; Inventories | 965112 | 899924 |
| &nbsp;&nbsp;&nbsp;&nbsp; Joint venture receivable | 12760 | 2892 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other current assets | 799261 | 378469 |
| Total current assets | 51346719 | 11742073 |
| &nbsp;&nbsp;&nbsp;&nbsp; Property, plant and equipment, net of accumulated depreciation | 19503962 | 12904065 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mineral properties, net of accumulated amortization | 15742370 | 10573349 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment in Buckskin Gold and Silver, Inc. | 345082 | 341436 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment in joint venture | 435000 | 435000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment in US treasury notes, non-current | 27651843 | 7208930 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reclamation bonds | 355220 | 249110 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deposits | 858534 | 567667 |
| Total assets | $116238730 | $44021630 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Accounts payable and accrued expenses | $1904589 | $1006078 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued payroll and related payroll expenses | 409212 | 564090 |
| &nbsp;&nbsp;&nbsp;&nbsp; Notes payable, current portion | 1029336 | 709381 |
| &nbsp;&nbsp;&nbsp;&nbsp; Income taxes payable | 334446 | - |
| Total current liabilities | 3677583 | 2279549 |
| &nbsp;&nbsp;&nbsp;&nbsp; Asset retirement obligations | 325451 | 305409 |
| &nbsp;&nbsp;&nbsp;&nbsp; Notes payable, long term | 1302048 | 1023358 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deferred tax liability | 91700 | - |
| Total long term liabilities | 1719199 | 1328767 |
| Total liabilities | 5396782 | 3608316 |
| Commitments and Contingencies (Note 5 and 12) |  |  |
| Stockholders' equity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Preferred stock, no par value, 1,000,000 shares authorized; no shares issued or outstanding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common stock, no par value, 200,000,000 shares authorized; 15,705,199 and 13,665,058 shares issued and outstanding, respectively | 99828021 | 46059318 |
| &nbsp;&nbsp;&nbsp;&nbsp; Retained earnings (accumulated deficit) | 8341721 | (8373953) |
| Total Idaho Strategic Resources, Inc. stockholders' equity | 108169742 | 37685365 |
| &nbsp;&nbsp;&nbsp;&nbsp; Non-controlling interest | 2672206 | 2727949 |
| Total stockholders' equity | 110841948 | 40413314 |
| Total liabilities and stockholders' equity | $116238730 | $44021630 |

---

Idaho Strategic Resources • 201 N. 3<sup>rd</sup> Street • Coeur d'Alene, Idaho 83814

**<u>Forward Looking Statements</u>**

Idaho Strategic Resources • 201 N. 3<sup>rd</sup> Street • Coeur d'Alene, Idaho 83814