# EDGAR Filing Document

**Accession Number:** 0001030192
**File Stem:** 0001654954-23-001735
**Filing Date:** 2023-2
**Character Count:** 10295
**Document Hash:** b81754294aed696099d8e7d19bd126d4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001654954-23-001735.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001654954-23-001735

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20230214

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Idaho Strategic Resources, Inc.
- **CENTRAL INDEX KEY:** 0001030192
- **STANDARD INDUSTRIAL CLASSIFICATION:** GOLD & SILVER ORES [1040]
- **IRS NUMBER:** 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:** 23632034

**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="utf-8"?njmc_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):

**February 14, 2023**

Commission file number: **000-28837**

![njmc_8kimg1.jpg](njmc_8kimg1.jpg)

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| |
|:---|
| **Idaho Strategic Resources, Inc.** |
| (Exact Name of Registrant as Specified in its Charter) |

---

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| | |
|:---|:---|
| **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):

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

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

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

☐ 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 Which Registered** |
| Common Stock, no par value | IDR | NYSE American |

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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 February 14, 2023 announcing that it has withdrawn its business combination proposal to acquire Westwater Resources, Inc

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**

**d) Exhibits**

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| | |
|:---|:---|
| [99.1](njmc_ex991.htm) | [Press Release, dated February 14, 2023, entitled "Idaho Strategic Resources Withdraws Proposal to Acquire Westwater Resources"](njmc_ex991.htm) |

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\*The foregoing exhibit relating to Item 7.01 is intended to be furn1ished to, not filed with, the SEC pursuant to Regulation FD.

**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 |
|  | Its: President & CEO |
|  | Date: February 14, 2023 |

---

## Ex-99.A

**EXHIBIT 99.1**

**Idaho Strategic Resources Withdraws Proposal to Acquire Westwater Resources**

*Westwater's Board Has Refused to Engage Constructively Despite Unique Opportunity to Build a Domestic Critical Minerals Supply Chain and Deliver a Significant Premium for Shareholders* 

COEUR D'ALENE, Idaho--(BUSINESS WIRE)-- Idaho Strategic Resources (NYSE American: IDR) ("Idaho Strategic" or "we") today announced that it has withdrawn its business combination proposal to acquire Westwater Resources, Inc. (NYSE American: WWR) ("WWR" or "Westwater") for $1.36 per share due to the Board of Directors (the "Board") of Westwater's continued unwillingness to constructively engage in discussions around a potential combination. The proposal to build a new domestic critical minerals company represented a share price premium of approximately 73% to the last unaffected trading day for both companies prior to the business combination proposal announcement on December 22, 2022.

"We are disappointed that the Westwater Board has refused to even discuss the potential combination of our two companies and ignored our proposal that would deliver immediate and long-term value to all Westwater shareholders," said John Swallow, Idaho Strategic President and CEO. "Instead of engaging in constructive dialogue, the Westwater Board let this unique and value-generative opportunity to potentially create a company with a clean share structure, a low float, high insider ownership, a significant cash position and several tier 1 critical minerals projects within the United States go unexplored."

Mr. Swallow continued, "After careful assessment with our advisors, we determined that given the lack of meaningful engagement from Westwater, Idaho Strategic's best path forward at this time is to execute on our own 'production-based' strategy while delivering long-term value for our stakeholders. Our gold operations are hitting stride and the dynamic nature of the REE industry seems to be changing almost daily. With our positioning in the REE industry and actual mining and development experience, our ability to drive results even through periods of increased inflation and global uncertainty, in addition to providing exposure to a decarbonized future is relevant now more than ever. We will continue our disciplined approach to M&A, while monitoring the situation at WWR, and explore value enhancing opportunities just as our shareholders have come to expect."

**About Idaho Strategic Resources, Inc.**

Domiciled in Idaho and headquartered in the Panhandle of northern Idaho, Idaho Strategic Resources (IDR) is one of the few resource-based companies (public or private) possessing the combination of officially recognized U.S. domestic rare earth element properties (in Idaho), the largest known concentration of thorium resources in the U.S., and Idaho-based gold production located in an established mining community.

Idaho Strategic Resources maintains an important strategic presence in the U.S. Critical Minerals sector, specifically focused on the more "at-risk" Rare Earth Elements (REE's) and Thorium. With over 11,000 acres of Rare Earth Element landholdings, the Company is the second largest REE landholder in the U.S. The Company's Diamond Creek and Roberts REE properties are included the U.S. national REE inventory as listed in USGS, IGS and DOE publications. IDR's Lemhi Pass Thorium-REE Project is recognized by the USGS and IGS as containing the largest concentration of thorium resources in the country. All three projects are located in central Idaho and are participating in the IGEM Program and the USGS Earth MRI program.

The Company produces gold at the Golden Chest Mine located in the Murray Gold Belt (MGB) area of the world-class Coeur d'Alene Mining District, north of the prolific Silver Valley. With over 7,000 acres of patented and unpatented land, the Company has the largest private land position in the area following its consolidation of the Murray Gold Belt for the first time in over 100 years.

With an impressive mix of mining and business experience, IDR maintains a long-standing "We Live Here" approach to corporate culture, land management, and historic preservation. Furthermore, it is our belief that successful operations begin with the heightened responsibility that only local oversight and a community mindset can provide. Its "everyone goes home at night" policy would not be possible without the multi-generational base of local exploration, drilling, mining, milling, and business professionals that reside in and near the communities of the Silver Valley and North Idaho.

For more information on Idaho Strategic Resources click here for our corporate presentation or visit www.idahostrategic.com.

**Forward Looking Statements**

**Contacts**

For Investors:

Travis Swallow, Investor Relations & Corporate Development

Email: tswallow@idahostrategic.com

Phone: (208) 625-9001

Saratoga Proxy Consulting

John Ferguson

info@saratogaproxy.com

(212) 257-1311

For Media:

Longacre Square Partners

Rebecca Kral / Dan Zacchei

rkral@longacresquare.com / dzacchei@longacresquare.com