# EDGAR Filing Document

**Accession Number:** 0001030192
**File Stem:** 0001654954-26-004897
**Filing Date:** 2026-5
**Character Count:** 18265
**Document Hash:** ca9c480de2e9de7b66ecad352f50b9bb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001654954-26-004897.hdr.sgml**: 20260514

**ACCESSION NUMBER**: 0001654954-26-004897

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20260514

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260514

**DATE AS OF CHANGE**: 20260514

**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:** 26979246

**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):

<u>**May 14, 2026**</u>

Commission file number: **<u>001-41320</u>**

![idr_8kimg2.jpg](idr_8kimg2.jpg)

---

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

---

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 May 14, 2026, announcing its consolidated operating and financial results for the first quarter ending March 31, 2026.

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](idr_ex991.htm) | [Press Release, dated May 14, 2026 entitled "Idaho Strategic Reports Record First Quarter 2026 Operating and Financial Performance - *Highlighted by a 98.97% Increase in Revenue to $14,482,286 and Record Quarterly Net Income of $6,387,992"*](idr_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.

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 |
|  | Its: President & CEO |
|  | Date: May 14, 2026 |

---

3<br>

## Exhibit 99.1

**EXHIBIT 99.1**

![](idr_ex991img1.jpg)

**Idaho Strategic Reports Record First Quarter 2026 Operating and Financial Performance**

*Highlighted by a 98.97% Increase in Revenue to $14,482,286 and Record Quarterly Net Income of $6,387,992*

COEUR D'ALENE, Idaho, May 14, 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 first quarter ending March 31, 2026. Consistent with the Company's business plan, IDR maintained its profitability while growing its gold production and reinvesting in near-mine exploration opportunities and capital projects on-site. During the quarter, the Company's geology team finalized its plans for broader exploration work in the 2026 field season focused on both the Murray Gold Belt District and the Idaho Rare Earth Elements-Thorium Belt. Additionally, work continued on the construction of the Company's new Murray Mill, with the completion of the paste backfill circuit and the start of foundation work for installation of the new ball mill. Operating and financial results for the first quarter include:

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| | | | |
|:---|:---|:---|:---|
| **Operational** <br> **Performance:** | **Q1 2026** | **% Change** | **Q1 2025** |
| Ore Tonnes Processed | 11290 | -0.47% | 11337 |
| Average Flotation Feed Grade (gpt) | 9.68 | 11.65% | 8.67 |
| Ounces Produced | 3234 | 11.52% | 2900 |
| All-In Sustaining Cost Per Ounce ($USD) | $1868.07 | 30.55% | $1430.90 |

---

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| | | | |
|:---|:---|:---|:---|
| **Financial** <br> **Performance ($USD):** | **Q1 2026** | **% Change** | **Q1 2025** |
| Revenue | &nbsp;&nbsp;&nbsp;&nbsp;$14482286 | 98.97% | $7278536 |
| Total Cost of Sales | $4917388 | 37.34% | $3580450 |
| Gross Profit | $9564898  | 158.64% | $3698086 |
| Net Income Attributable to IDR | $6387992 | 297.02% | $1608979 |
| Earnings Per Share (EPS) | $0.40 | 233.33% | $0.12 |
| Average Realized Gold Price | $4702.04 | 65.06% | $2848.74 |

---

During the quarter, Idaho Strategic capitalized approximately $960,713 of core drilling at the Golden Chest that informed mine planning and resource confidence largely related to the continued exploration of the Paymaster area; compared to $0 in the comparable period in 2025. Moving forward, it is anticipated that IDR will capitalize a portion of exploration expenses quarterly rather than annually. Management believes this procedural accounting change provides investors with a clearer picture of the Company's financial performance throughout the year.

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

Idaho Strategic's President and CEO, John Swallow stated, "Our goal for the year was to build on a strong 2025 – and as evidenced in our record first quarter results, the team has met these expectations. From increased production to expanded exploration and drilling programs, our business plan is working as designed. In addition to the two drills dedicated to resource conversion and exploration drilling at the Golden Chest, permitting is in place for drill programs this year at two projects in the Murray Gold Belt (Little Baldy and Niagara) and at two of our REE prospects (Lucky Horseshoe at Lemhi Pass and Cardinal at Mineral Hill) near Salmon.

We are one of the few junior mining companies that put a mine into production when our industry was out of favor so that we could take advantage of opportunities when the tailwinds arrived. To that end, we followed up our acquisition of Hecla's Toboggan landholdings in Q3 2025 with the execution of a long-term lease agreement on the nearby Niagara project during Q1 2026, adding potentially significant copper-silver exposure to the Company. Both of these additions were essential to consolidating the Murray Gold Belt District and provide the Company with high-quality exploration targets that will last many years into the future."

**Golden Chest Highlights for Q1 2026 Include:**

· Mined approximately 11,290 tonnes of ore from underground stopes on the H-Vein.

· Completed a total of 193 meters of development in the main access ramp (MAR) and associated workings including an escapeway/ventilation raise. A record total of 4,008 cubic meters of CRF backfill was placed during the quarter.

· Processed a total of 11,290 dry metric tonnes ("dmt") at the Company's New Jersey Mill with a flotation feed head grade of 9.68 gpt gold and gold recovery of 92.1%.

· Some long lead items for the Murray Mill were delivered such as a jaw crusher and a cone crusher, and additional underground mining equipment including two 4-yard LHDs were delivered to the mine during the first quarter.

· An exploration program consisting of surface and underground core drilling was continued during the first quarter at the Golden Chest. A total of 8,700 meters of drilling was completed at the Golden Chest targeting the Paymaster, Red Star, Katie-Dora, and the H-Vein.

**Rare Earth Highlights for Q1 2026 Include:**

· Finalized exploration plans for the upcoming 2026 field season. The bulk of the Company's REE exploration efforts are planned for high-grade prospects at both its Mineral Hill and Lemhi Pass projects. To support these programs, IDR has retained the support of seasoned REE exploration geologists familiar with the Company and its REE projects.

Corporate Highlights for Q1 2026 Include:

· Executed a long-term lease on the Niagara copper-silver project located in the Murray Gold Belt District. The project hosts a historic inferred resource estimated to contain approximately 150 million pounds of copper and 8.8 million ounces of silver.

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

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

<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 exploration business plan was established in anticipation of today's volatile geopolitical and macroeconomic environment. In addition to gold production, the Company has built a substantial land position in Idaho across multiple commodities, 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 one of the only publicly traded companies with growing gold production and significant blue-sky potential for discovery and development.

For more information on Idaho Strategic Resources, please 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, Inc. 201 N. 3<sup>rd</sup> Street Coeur d'Alene, Idaho 83814

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| | | |
|:---|:---|:---|
| **Idaho Strategic Resources, Inc.**<br> **Condensed Consolidated Statements of Operations (Unaudited)**<br> **For the Three-Month Periods Ended March 31, 2026 and 2025** | **Idaho Strategic Resources, Inc.**<br> **Condensed Consolidated Statements of Operations (Unaudited)**<br> **For the Three-Month Periods Ended March 31, 2026 and 2025** | **Idaho Strategic Resources, Inc.**<br> **Condensed Consolidated Statements of Operations (Unaudited)**<br> **For the Three-Month Periods Ended March 31, 2026 and 2025** |
|  | **March 31,** | **March 31,** |
|  | **2026** | **2025** |
| Revenue: |  |  |
| &nbsp;&nbsp; Sales of products, net | $14482286 | $7278536 |
| Total revenue | 14482286 | 7278536 |
| Costs of Sales: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cost of sales and other direct production costs | 4203603 | 3030829 |
| &nbsp;&nbsp;&nbsp;&nbsp; Depreciation and amortization | 713785 | 549621 |
| Total costs of sales | 4917388 | 3580450 |
| Gross profit | 9564898 | 3698086 |
| Other operating expenses: |  |  |
| &nbsp;&nbsp; Exploration | 1389349 | 1371433 |
| &nbsp;&nbsp; Management | 189643 | 264745 |
| &nbsp;&nbsp; Professional services | 181351 | 183738 |
| &nbsp;&nbsp; General and administrative | 223027 | 237018 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Gain) loss on sale of equipment | (632) | 239898 |
| Total other operating expenses | 1982738 | 2296832 |
| &nbsp;&nbsp;&nbsp;&nbsp; Operating income | 7582160 | 1401254 |
| Other (income) expense: |  |  |
| &nbsp;&nbsp; Equity (income) loss on investment in Buckskin Gold and Silver, Inc. | 168 | (1346) |
| &nbsp;&nbsp; Loss on investment in equity securities and mutual funds | 304241 |  |
| &nbsp;&nbsp; Timber revenue net of costs | (3209) | (3856) |
| &nbsp;&nbsp; Dividend income | (55532) |  |
| &nbsp;&nbsp; Interest income | (392018) | (185395) |
| Total other income | (146350) | (190597) |
| Income before income taxes | 7728510 | 1591851 |
| &nbsp;&nbsp; Income tax provision | 1359320 | - |
| **Net income** | **6369190** | **1591851** |
| Net loss attributable to non-controlling interest | (18802) | (17128) |
| Net income attributable to Idaho Strategic Resources, Inc | $6387992 | $1608979 |
| Net income per common share-basic | $0.40 | $0.12 |
| Weighted average common share outstanding-basic | 15795072 | 13666321 |
| Net income per common share-diluted | $0.40 | $0.12 |
| Weighted average common shares outstanding-diluted | 15976298 | 13735770 |

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

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| | | |
|:---|:---|:---|
| **Idaho Strategic Resources, Inc.**<br> **Condensed Consolidated Balance Sheets (Unaudited)** | **Idaho Strategic Resources, Inc.**<br> **Condensed Consolidated Balance Sheets (Unaudited)** | **Idaho Strategic Resources, Inc.**<br> **Condensed Consolidated Balance Sheets (Unaudited)** |
|  | **March 31,**<br> **2026** | **December 31,**<br> **2025** |
| **ASSETS** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp; Cash and cash equivalents | $20791904 | $9889765 |
| &nbsp;&nbsp; Investments in US treasury notes | 27765146 | 27679881 |
| &nbsp;&nbsp; Investment in equity securities |  | 4129521 |
| &nbsp;&nbsp; Investment in mutual funds |  | 3957497 |
| &nbsp;&nbsp; Gold sales receivable | 3920174 | 3912922 |
| &nbsp;&nbsp; Inventories | 1233751 | 965112 |
| &nbsp;&nbsp; Joint venture receivable | 3796 | 12760 |
| &nbsp;&nbsp; Other current assets | 872289 | 799261 |
| Total current assets | 54587060 | 51346719 |
| &nbsp;&nbsp; Property, plant and equipment, net of accumulated depreciation | 21735741 | 19503962 |
| &nbsp;&nbsp; Mineral properties, net of accumulated amortization | 17500099 | 15742370 |
| &nbsp;&nbsp; Investments in US treasury notes, non-current | 27894995 | 27651843 |
| &nbsp;&nbsp; Investment in Buckskin Gold and Silver, Inc. | 344914 | 345082 |
| &nbsp;&nbsp; Investment in joint venture | 435000 | 435000 |
| &nbsp;&nbsp; Reclamation bonds | 355220 | 355220 |
| &nbsp;&nbsp; Deposits | 3116502 | 858534 |
| Total assets | $125969531 | $116238730 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp; Accounts payable and accrued expenses | $1676476 | $1904589 |
| &nbsp;&nbsp; Accrued payroll and related payroll expenses | 819775 | 409212 |
| &nbsp;&nbsp; Notes payable, current portion | 879822 | 1029336 |
| &nbsp;&nbsp; Income taxes payable | 899175 | 334446 |
| Total current liabilities | 4275248 | 3677583 |
| &nbsp;&nbsp; Asset retirement obligations | 330672 | 325451 |
| &nbsp;&nbsp; Notes payable, long term | 1143678 | 1302048 |
| &nbsp;&nbsp; Deferred income tax liabilities | 886291 | 91700 |
| Total long-term liabilities | 2360641 | 1719199 |
| Total liabilities | 6635889 | 5396782 |
| Stockholders' equity: |  |  |
| &nbsp;&nbsp; Preferred stock, no par value, 1,000,000 shares authorized; no shares issued or outstanding |  |  |
| &nbsp;&nbsp; Common stock, no par value, 200,000,000 shares authorized; March 31, 2026-15,806,301 and December 31, 2025- 15,705,199 shares issued and outstanding | 101946729 | 99828021 |
| &nbsp;&nbsp; Retained earnings | 14729713 | 8341721 |
| Total Idaho Strategic Resources, Inc. stockholders' equity | 116676442 | 108169742 |
| &nbsp;&nbsp; Non-controlling interest | 2657200 | 2672206 |
| Total stockholders' equity | 119333642 | 110841948 |
| Total liabilities and stockholders' equity | $125969531 | $116238730 |

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

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

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