# EDGAR Filing Document

**Accession Number:** 0001030192
**File Stem:** 0001654954-23-001113
**Filing Date:** 2023-2
**Character Count:** 11610
**Document Hash:** 58bd22e6cd1c64e3740950f3a3bff0bf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001654954-23-001113.hdr.sgml**: 20230201

**ACCESSION NUMBER**: 0001654954-23-001113

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 20

**CONFORMED PERIOD OF REPORT**: 20230131

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230201

**DATE AS OF CHANGE**: 20230131

**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:** 23574089

**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):

**January 31, 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&nbsp;&nbsp;&nbsp;&nbsp;☐

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.&nbsp;&nbsp;&nbsp;&nbsp;☐

**Item 7.01 Regulation FD Disclosure.** 

The Company issued a press release on January 31, 2023, providing estimated top-line revenue and production for 2022.

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 January 31, 2023, entitled "Idaho Strategic Provides Full Year 2022 Top-line Performance Numbers"](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 | John Swallow |
| Its:  | President & CEO |
| Date: | January 31, 2023 |

---

## Exhibit 99.1

**EXHIBIT 99.1**

![](njmc_ex991img4.jpg)

**Idaho Strategic Provides Full Year 2022 Top-line Performance Numbers** 

*Golden Chest Mine Continues to be Proof-of-Concept as Rare Earth Elements Projects Advance*

COEUR D'ALENE, Idaho, January 31, 2023 (ACCESSWIRE) – Idaho Strategic Resources (NYSE American: IDR) ("IDR" or the "Company") is pleased to announce that it has continued its track record of consistent revenue growth and operating results with estimated top-line revenue and production for 2022 of $9.5 million and 6,000 ounces of gold production, representing a 24.5% increase in revenue and a 24.3% increase in ounces produced over 2021.

Idaho Strategic President and CEO, John Swallow stated, "The top-line 2022 revenue and production numbers from our gold operations are evidence that our production-based approach is working. Our unique focus on starting small and building bigger affords us a healthier business approach, which in turn delivers shareholder value creation and consistent performance improvement. As the CEO of Idaho Strategic, I am proud of the way our 50+ team members have advanced our operations and our rare earth projects to realize a record revenue 4<sup>th</sup> quarter. Mining is a tough business, and while nothing in this industry is ever guaranteed, the ability to construct and grow an actual producing company is what the IDR team is built for."

The table below shows select estimated financial and production results related to Idaho Strategic's gold operations from fiscal years 2020-2022:

![](njmc_ex991img1.gif)

IDR was able to drive results through a period of increased inflation and lower gold prices in the third quarter by pivoting to a revised mine plan which includes prioritizing the higher-grade on the northern end of the Skookum shoot, while preserving access to the south end for potential future mining as gold prices continue to improve. At the Golden Chest Mine, Idaho Strategic added a Resemin Muki narrow-vein underground bolter (pictured below), a Sandvik underground loader, and completed the commissioning of its Tamrock double-boom jumbo (pictured below). The importance of adding these three new machines underground has helped increase mine efficiency and provided IDR's miners with much needed tools to drive our growing base of cash flow.

The Company has also adjusted its mining schedule to a 7 and 7 schedule which has increased the efficiency and continuity of its miners on a day-to-day basis. The company is currently evaluating the potential to expand its underground production by updating its resource model with results from core drilling over the past year.

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

Mr. Swallow concluded, "As we continue to advance our rare earth elements projects, the credibility afforded to us by being able to point to the Golden Chest Mine as our proof-of-concept is an advantage not many other companies in the U.S. rare earth industry possess. There is an unmistakable value to being a proven mine operator. Starting big can sometimes come with an associated level of risk and dilution and many times shareholders that started the journey are not the ones that benefit upon reaching the destination. And as a fellow shareholder, my focus has been on traveling this road together. The managerial and production skillsets that we have at IDR have resulted in a steady growth plan at the Golden Chest and allowed for our domestic expansion into rare earths and other critical minerals at a time when our country is searching for answers to its supply chain security shortfalls."

Resemin Muki Bolter Photo:

![](njmc_ex991img2.jpg)

Tamrock Double-Boom Jumbo Photo:

![](njmc_ex991img3.jpg)

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

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

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 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.

In addition to gold and gold production, the Company 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. 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 participating in the USGS Earth MRI program.

With an impressive mix of experience and dedication, the folks at IDR maintain 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 <u>here</u> for our corporate presentation, go to <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, Inc. • 201 N. 3<sup>rd</sup> Street • Coeur d'Alene, Idaho 83814<br>

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

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