# EDGAR Filing Document

**Accession Number:** 0001722387
**File Stem:** 0001722387-26-000004
**Filing Date:** 2026-3
**Character Count:** 719908
**Document Hash:** 07e81fcf22828522f8d83005ef6fefcf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001722387-26-000004.hdr.sgml**: 20260325

**ACCESSION NUMBER**: 0001722387-26-000004

**CONFORMED SUBMISSION TYPE**: 40-F

**PUBLIC DOCUMENT COUNT**: 164

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260325

**DATE AS OF CHANGE**: 20260324

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Integra Resources Corp.
- **CENTRAL INDEX KEY:** 0001722387
- **STANDARD INDUSTRIAL CLASSIFICATION:** GOLD & SILVER ORES [1040]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 40-F
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39372
- **FILM NUMBER:** 26787831

**BUSINESS ADDRESS:**
- **STREET 1:** 1050 - 400 BURRARD STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6C 3A6
- **BUSINESS PHONE:** (778) 873-8190

**MAIL ADDRESS:**
- **STREET 1:** 1050 - 400 BURRARD STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6C 3A6

?xml version='1.0' encoding='ASCII'? itrg-20251231_d2

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 40-F**

**☐** **REGISTRATION STATEMENT PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF** **1934** 

**☒** **ANNUAL REPORT PURSUANT TO SECTION 13(a) OR 15(d) OF THE SECURITIES EXCHANGE ACT OF** **1934**

**For the fiscal year ended December 31, 2025Commission File Number 001-39372**

**INTEGRA RESOURCES CORP.**

**(Exact name of Registrant as specified in its charter)**

**British Columbia**

(Province or other jurisdiction of incorporation or organization)

**1040**

(Primary Standard Industrial Classification Code Number (if applicable))

**98-1431670**

(I.R.S. Employer Identification Number (if applicable))

**1050-400 Burrard Street**

**Vancouver, British Columbia, Canada V6C 3A6** 

**(604) 416-0576**

(Address and telephone number of Registrant's principal executive offices)

**CT Corporation System**

**1015 15th Street N.W., Suite 1000**

**Washington, DC 20005** 

**(202) 572-3133** 

(Name, address (including zip code) and telephone number (including area code)

of agent for service in the United States)

**Securities registered or to be registered pursuant to Section 12(b) of the Act:** 

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| **Common Shares, no par value** | **ITRG** | **NYSE American LLC** |

---

Securities registered or to be registered pursuant to Section 12(g) of the Act: Not applicable.

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: Not applicable.

For annual reports, indicate by check mark the information filed with this Form:

---

| | | | |
|:---|:---|:---|:---|
| ☒ | Annual information form | ☒ | Audited annual financial statements |

---

Number of outstanding shares of each of the issuer's classes of

capital or common stock as of December 31, 2025:

**182,070,050 Common Shares, no par value** 

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange

Act during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has

been subject to such filing requirements for the past 90 days.&nbsp;&nbsp;&nbsp;&nbsp;Yes ☒&nbsp;&nbsp;&nbsp;&nbsp;No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every

Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter)

during the preceding 12 months (or for such shorter period that the Registrant was required to submit and post such

files).&nbsp;&nbsp;&nbsp;&nbsp;Yes ☒&nbsp;&nbsp;&nbsp;&nbsp;No ☐

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act.

Emerging growth company ☐

If an emerging growth company that prepares is financial statements in accordance with U.S. GAAP, 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. ☐

† The term "new or revised financial accounting standard" refers to any update issued by the Financial Accounting Standards

Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the

effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b))

by the registered public accounting firm that prepared or issued its audit report.☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the

registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-

based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to

§240.10D-1(b). ☐

**EXPLANATORY NOTE**

Integra Resources Corp. (the "**Company**" or the "**Registrant**") is a Canadian issuer that is permitted, under the

multijurisdictional disclosure system adopted in the United States, to prepare this Annual Report on Form 40-F (this

"**Annual Report**") pursuant to Section 13 of the Securities Exchange Act of 1934, as amended (the "**Exchange** 

**Act**"), in accordance with Canadian disclosure requirements, which are different from those of the United States.

The Company is a "foreign private issuer" as defined in Rule 3b-4 under the Exchange Act and Rule 405 under the

Securities Act of 1933, as amended. Equity securities of the Company are accordingly exempt from Sections 14(a),

14(b), 14(c), 14(f) and 16 of the Exchange Act pursuant to Rule 3a12-3 thereunder.

**CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS** 

This Annual Report, including any documents incorporated by reference herein contains "forward-looking

statements" or "forward-looking information" within the meaning of applicable Canadian and United States

securities legislation (collectively, "**forward-looking statements**"). Forward-looking statements are included to

provide information about management's current expectations and plans that allows investors and others to get a

better understanding of the Company's operating environment, business operations and financial performance and

condition.

Forward-looking statements relate, but are not limited, to: the planned exploration, development and mining

activities and expenditures of the Company, including estimated production, cash costs, all-in sustaining costs and

capital expenditures; the estimation, realization and growth of mineral resource and reserve estimates; the

development, operational and economic results of economic studies on the Company's projects; magnitude or quality

of mineral deposits; anticipated advancement, timing and results of permitting for the Company's projects; benefits

of non-GAAP measures; anticipated advancement of the Company's projects and future exploration prospects; the

future price of metals; government regulation of mining operations; environmental risks; relationships with local

communities; and future growth potential of the Company's projects. Forward-looking statements are often

identified by the use of words such as "may", "will", "could", "would", "anticipate", 'believe", "expect", "intend",

"potential", "estimate", "budget", "scheduled", "plans", "planned", "forecasts", "goals" and similar expressions.

Forward-looking statements are based on a number of factors and assumptions made by management and considered

reasonable at the time such statement was made. Assumptions and factors include: the Company's abilities to

complete its planned exploration and development programs; the absence of adverse conditions at the Company's

projects; no unforeseen operational delays; no material delays in obtaining necessary permits; results of independent

engineer technical reviews; the possibility of cost overruns and unanticipated costs and expenses; the price of gold

remaining at levels that continue to render the Company's projects economic, as applicable; the Company's ability to

continue raising necessary capital to finance operations; and the ability to realize on the mineral resource and reserve

estimates. Forward-looking statements necessarily involve known and unknown risks and uncertainties, which may

cause actual performance and financial results in future periods to differ materially from any projections of future

performance or result expressed or implied by such forward-looking statements. These risks and uncertainties

include, but are not limited to: general business, economic and competitive uncertainties; the actual results of current

and future exploration activities; conclusions of economic evaluations; meeting various expected cost estimates;

changes in project parameters and/or economic assessments as plans continue to be refined; future prices of metals;

possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs;

geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as

anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental

approvals or financing; risks related to local communities; the speculative nature of mineral exploration and

development (including the risks of obtaining necessary licenses, permits and approvals from government

authorities); title to properties; and other factors beyond the Company's control and as well as those factors included

herein and elsewhere in the Company's disclosure. Although the Company has attempted to identify important

factors that could cause actual actions, events or results to differ materially from those described in the forward-

looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated

or intended. This list in not exhaustive of the factors that may affect any of the Company's forward-looking

statements. Although the Company believes its expectations are based on reasonable assumptions and have

attempted to identify important factors that could cause actions, events or results to differ materially from those

described in the forward-looking statements, there may be other factors that cause actions, events or results not to be

as anticipated, estimated or intended.

This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. Although

the Company believes its expectations are based upon reasonable assumptions and have attempted to identify

important factors that could cause actual actions, events or results to differ materially from those described in

forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated,

estimated or intended. See the section entitled "*The Business – Risk Factors*" in the Annual Information Form of the

Registrant for the year ended December 31, 2025 (the "**AIF**"), attached as <u>Exhibit 99.1</u> to this Annual Report, for

additional risk factors that could cause results to differ materially from forward-looking statements.

Investors are cautioned not to put undue reliance on forward-looking statements. The forward-looking statements

contained herein are made as of the date of this Annual Report and, accordingly, are subject to change after such

date. The Company disclaims any intent or obligation to update publicly or otherwise revise any forward-looking

statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or

otherwise, except in accordance with applicable securities laws.

**NOTE TO UNITED STATES READERS - DIFFERENCES IN UNITED STATES AND CANADIAN** 

**REPORTING PRACTICES**

The Registrant is permitted, under the multi-jurisdictional disclosure system adopted by the United States Securities

and Exchange Commission (the "**SEC**"), to prepare this Annual Report in accordance with Canadian disclosure

requirements, which differ from those of the United States. The Company has prepared its financial statements,

which are filed as <u>Exhibit 99.2</u> to this Annual Report and incorporated by reference herein, in accordance with IFRS

Accounting Standards, as issued by the International Accounting Standards Board and they are not comparable to

financial statements of United States companies.

**RESOURCE AND RESERVE ESTIMATES** 

The exhibits incorporated by reference into this Annual Report have been prepared in accordance with the

requirements of the securities laws in effect in Canada, which differ from the requirements of United States

securities laws. Such exhibits include mineral reserves and mineral resources classification terms are made in

accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("**NI 43-101**"). NI

43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public

disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards

differ from the requirements of the SEC applicable to domestic United States reporting companies. Accordingly,

information incorporated into this Annual Report that describes the Company's mineral reserves and mineral

resources estimates may not be comparable with information made public by United States companies subject to the

SEC's reporting and disclosure requirements.

**CURRENCY**

Unless otherwise indicated, all dollar amounts in this Annual Report on Form 40-F are in United States dollars. The

exchange rate of Canadian dollars into United States dollars, on December 31, 2025 based upon the daily exchange

rate as quoted by the Bank of Canada was Cdn.$1.00 = U.S.$0.7296.

**ANNUAL INFORMATION FORM**

The Registrant's Annual Information Form for the fiscal year ended December 31, 2025 is filed as <u>Exhibit 99.1</u> to

this Annual Report and is incorporated by reference herein.

**AUDITED ANNUAL FINANCIAL STATEMENTS**

The audited consolidated financial statements of the Registrant for the years ended December 31, 2025 and 2024,

including the reports of the independent auditors thereon, are filed as <u>Exhibit 99.2</u> to this Annual Report and are

incorporated by reference herein.

**MANAGEMENT'S DISCUSSION AND ANALYSIS**

The Registrant's Management's Discussion and Analysis (the "**MD&A**") dated March 24, 2026 for the year ended

December 31, 2025, is filed as <u>Exhibit 99.3</u> to this Annual Report and is incorporated by reference herein.

**TAX MATTERS**

Purchasing, holding, or disposing of the Company's securities may have tax consequences under the laws of the

United States and Canada that are not described in this Annual Report.

**CONTROLS AND PROCEDURES**

*Disclosure Controls and Procedures*

As of the end of the period covered by this Annual Report, the Company carried out an evaluation, under the

supervision of the Company's Chief Executive Officer ("**CEO**") and Chief Financial Officer ("**CFO**"), of the

effectiveness of the Company's disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of

the Exchange Act). Based upon that evaluation, the Company's CEO and CFO have concluded that, as of the end of

the period covered by this Annual Report, the Company's disclosure controls and procedures are effective to ensure

that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act

is (i) recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and

(ii) accumulated and communicated to the Company's management, including its principal executive officer and

principal financial officer, to allow timely decisions regarding required disclosure.

While the Company's principal executive officer and principal financial officer believe that the Company's

disclosure controls and procedures provide a reasonable level of assurance that they are effective, they do not expect

that the Company's disclosure controls and procedures or internal control over financial reporting will prevent all

errors or fraud. A control system, no matter how well conceived or operated, can provide only reasonable, not

absolute, assurance that the objectives of the control system are met.

*Management's Annual Report on Internal Control over Financial Reporting*

Management of the Company is responsible for establishing and maintaining adequate "internal control over

financial reporting" (as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act). The Company's

management, under the supervision of the CEO and CFO, has evaluated the effectiveness of the Company's internal

controls over financial reporting using framework and criteria established in Internal Control - Integrated

Framework, issued by the 2013 Committee of Sponsoring Organizations of the Treadway Commission. Based on

that evaluation, management concluded that internal controls over financial reporting were effective as at December

31, 2025.

Management of the Company believes that any disclosure controls and procedures or internal control over financial

reporting, no matter how well designed and operated, have their inherited limitations. Due to those limitations

(resulting from unrealistic or unsuitable objectives, human judgment in decision making, human errors, management

overriding internal control, circumventing controls by the individual acts of some persons, by collusion of two or

more people, external events beyond the entity's control), internal control can only provide reasonable assurance

that the objectives of the control system are met.

The design of a control system must reflect the fact that there are resource constraints, and the benefits of controls

must be considered relative to their costs. Due to the inherent limitations in a cost-effective control system,

misstatements due to error or fraud may occur and not be detected.

*Attestation Report of the Registered Public Accounting Firm*

The effectiveness of our internal control over financial reporting as of December 31, 2025 has been audited by BDO

Canada LLP, an independent registered public accounting firm, as stated in its report which is filed as Exhibit 99.2

and is incorporated by reference in this Annual Report.

*Changes in Internal Control over Financial Reporting*

During the period covered by this Annual Report, no change occurred in the Company's internal control over

financial reporting that has materially affected, or is reasonably likely to materially affect, the Company's internal

control over financial reporting.

**CORPORATE GOVERNANCE**

The Company's Board of Directors (the "**Board of Directors**") is responsible for the Company's corporate

governance and has a separately designated standing a Nomination and Corporate Governance Committee, a

Compensation Committee, an Audit Committee, a Technical and Safety Committee, and an Environment, Social,

Governance Committee. The Board of Directors has determined that all of the members of the Nomination and

Corporate Governance Committee, the Compensation Committee and the Audit Committee are independent, based

on the criteria for independence prescribed by Section 803A of the NYSE American LLC Company Guide.

*Nomination and Corporate Governance Committee*

The Nomination and Corporate Governance Committee is responsible for, among other things:

• developing, recommending to the Board of Directors and maintaining corporate governance principles

applicable to the Company;

• identifying and recommending qualified individuals for nomination to the Board of Directors;

• arranging for evaluations of the Board of Directors; and

• addressing any related matters required by applicable law.

The Company's Nomination and Corporate Governance Committee is comprised of Ian Atkinson (Chair), Timo

Jauristo and Anna Ladd-Kruger, all of whom are independent based on the criteria for independence prescribed by

Section 803A of the NYSE American LLC Company Guide.

*Compensation Committee*

Compensation of the Company's CEO and all other executive officers is recommended to the Board of Directors for

determination by the Compensation Committee. The Compensation Committee is comprised of Timo Jauristo

(Chair), Anna Ladd-Kruger and Ian Atkinson, all of whom are independent based on the criteria for independence

prescribed by Sections 803A and 805(c)(1) of the NYSE American LLC Company Guide.

**AUDIT COMMITTEE**

The Board of Directors has a separately designated standing Audit Committee established for the purpose of

overseeing the accounting and financial reporting processes of the Company and audits of the financial statements of

the Company in accordance with Section 3(a)(58)(A) of the Exchange Act. As of the date of this Annual Report, the

Company's Audit Committee is comprised of Anna Ladd-Kruger (Chair), Ian Atkinson and Janet Yang, all of whom

are independent based on the criteria for independence prescribed by Rule 10A-3 of the Exchange Act and Section

803A of the NYSE American LLC Company Guide.

The Board of Directors has also determined that each member of the Audit Committee is financially literate,

meaning each such member has the ability to read and understand a set of financial statements that present a breadth

and level of complexity of the issues that can reasonably be expected to be raised by the Company's financial

statements.

*Audit Committee Financial Expert*

The Board of Directors has determined that Anna Ladd-Kruger and Janet Yang qualify as financial experts (as

defined in Item 407(d)(5)(ii) of Regulation S-K under the Exchange Act), are financially sophisticated, as

determined in accordance with Section 803B(2)(iii) of the NYSE American LLC Company Guide, and are

independent (as determined under Exchange Act Rule 10A-3 and Section 803A of the NYSE American LLC

Company Guide).

The SEC has indicated that the designation or identification of a person as an audit committee financial expert does

not make such person an "expert" for any purpose, including without limitation for purposes of section 11 of the

Securities Act of 1933, impose any duties, obligations or liability on such person that are greater than those imposed

on members of the audit committee and the board of directors who do not carry this designation or identification, or

affect the duties, obligations or liability of any other member of the audit committee or board of directors.

**PRE-APPROVAL OF AUDIT AND NON-AUDIT SERVICES PROVIDED BY INDEPENDENT AUDITOR**

The Audit Committee pre-approves all audit services to be provided to the Company by its independent

auditors. Non-audit services that are prohibited to be provided to the Company by its independent auditors may not

be pre-approved. In addition, prior to the granting of any pre-approval, the Audit Committee must be satisfied that

the performance of the services in question will not compromise the independence of the independent auditors. Non-

audit services performed by the Company's auditor for the fiscal year ended December 31, 2025 related to tax

consulting related to the reorganization of the Company's subsidiaries was pre-approved by the Audit Committee.

Accordingly, no non-audit services were approved pursuant to the de minimis exemption to the pre-

approval requirement set forth in Rule 2-01(c)(7)(i)(C) of Regulation S-X. The information provided under the

headings "*Directors and Officers – Audit Committee – Pre-Approval Policies and Procedures for Non-audit* 

*Services"* contained in the AIF, filed as <u>Exhibit 99.1</u> hereto, is incorporated by reference herein.

**PRINCIPAL ACCOUNTANT FEES AND SERVICES**

The information provided under the headings "*Directors and Officers – Audit Committee – External Auditor Service* 

*Fees*" contained in the AIF, filed as <u>Exhibit 99.1</u> hereto, is incorporated by reference herein. The Company's

Independent Registered Public Accounting Firm is BDO Canada LLP, located in Vancouver, British Columbia,

PCAOB ID#01227.

**OFF-BALANCE SHEET ARRANGEMENTS**

The Company does not have any off-balance sheet arrangements.

**CODE OF ETHICS**

The Company has adopted a Code of Business Conduct and Ethics that applies to directors, officers and employees

of, and consultants to, the Company (the "**Code**"). The Code meets the requirements for a "code of ethics" within

the meaning of that term in General Instruction 9(b) of Form 40-F.

No amendments were made to the Code during the fiscal year ended December 31, 2025. A copy of the Code is

available on the Company's website at www.integraresources.com.

All waivers of the Code with respect to any of the employees, officers or directors covered by it will be promptly

disclosed as required by applicable securities rules and regulations. During the fiscal year ended December 31, 2025,

the Company did not waive or implicitly waive any provision of the Code with respect to any of the Company's

principal executive officer, principal financial officer, principal accounting officer or controller, or persons

performing similar functions.

**NOTICES PURSUANT TO REGULATION BLACKOUT TRADING RESTRICTION**

There were no notices required by Rule 104 of Regulation Blackout Trading Restriction ("**Regulation BTR**") that

the Company sent during the year ended December 31, 2025 concerning any equity security subject to a blackout

period under Rule 101 of Regulation BTR.

**MINE SAFETY DISCLOSURE**

Pursuant to Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 ("**Dodd-**

**Frank Act**"), issuers that are operators, or that have a subsidiary that is an operator, of a coal or other mine in the

United States are required to disclose in their periodic reports filed with the SEC information regarding specified

health and safety violations, orders and citations, related assessments and legal actions, and mining-related fatalities

under the regulation of the Federal Mine Safety and Health Administration ("**MSHA**") under the Federal Mine

Safety and Health Act of 1977 ("**Mine Act**"). This required information is filed as <u>Exhibit 99.5</u> to this Annual

Report.

**RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION**

The Company has adopted a compensation recovery policy effective October 2, 2023 (referred to as the "**Incentive** 

**Compensation Recovery Policy**") as required by NYSE American listing rules and pursuant to Rule 10D-1 of the

Exchange Act. The Incentive Compensation Recovery Policy is filed as <u>Exhibit 97.1</u> to this Form 40-F. At no time

during or after the fiscal year ended December 31, 2025 (as of the date of this Annual Report), was the Company

required to prepare an accounting restatement that required recovery of erroneously awarded compensation pursuant

to the Incentive Compensation Recovery Policy and, as of December 31, 2025, there was no outstanding balance of

erroneously awarded compensation to be recovered from the application of the Incentive Compensation Recovery

Policy to a prior restatement.

**NYSE AMERICAN STATEMENT OF GOVERNANCE DIFFERENCES**

The Company's common shares are listed on the NYSE American. Section 110 of the NYSE American Company

Guide permits the NYSE American to consider the laws, customs and practices of foreign issuers in relaxing certain

NYSE American listing criteria, and to grant exemptions from NYSE American listing criteria based on these

considerations. A company seeking relief under these provisions is required to provide written certification from

independent local counsel that the non-complying practice is not prohibited by home country law. A description of

the significant ways in which the Company's governance practices differ from those followed by domestic

companies pursuant to NYSE American standards is as follows:

*Shareholder Meeting Quorum Requirement*: The NYSE American minimum quorum requirement for a shareholder

meeting is one-third of the outstanding shares of common stock. In addition, a company listed on the NYSE

American is required to state its quorum requirement in its bylaws. The Company's quorum requirement as set forth

in its Articles of Incorporation are two shareholders who, in the aggregate, hold at least 25% of the issued shares

entitled to be voted at the meeting and are present in person or represented by proxy.

**DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS**

Not Applicable.

**UNDERTAKING**

The Company undertakes to make available, in person or by telephone, representatives to respond to inquiries made

by SEC staff, and to furnish promptly, when requested to do so by SEC staff, information relating to: the securities

registered pursuant to Form 40-F; the securities in relation to which the obligation to file an annual report on Form

40-F arises; or transactions in said securities.

**CONSENT TO SERVICE OF PROCESS**

The Company has previously filed with the SEC a written consent to service of process on Form F-X. Any change to

the name or address of the Company's agent for service shall be communicated promptly to the SEC by amendment

to the Form F-X referencing the file number of the Company.

**SIGNATURES**

Pursuant to the requirements of the Exchange Act, the Registrant certifies that it meets all of the requirements for

filing on Form 40-F and has duly caused this annual report to be signed on its behalf by the undersigned, thereto

duly authorized.

DATED this 24<sup>th</sup> day of March, 2026.

---

| | |
|:---|:---|
| **INTEGRA RESOURCES CORP.** | **INTEGRA RESOURCES CORP.** |
| By: | /s/ Andrée St-Germain |
|  | Name: Andrée St-Germain |
|  | Title: Chief Financial Officer |

---

**EXHIBIT INDEX** 

The following documents are being filed with the SEC as Exhibits to this Form 40-F:

---

| | |
|:---|:---|
| **<u>Exhibit Number</u>** | **<u>Description</u>** |
| [97.1](a971_clawbackpolicyx2024.htm) | [Compensation Recovery Policy](a971_clawbackpolicyx2024.htm) |
| [99.1](annualinformationform-q425.htm) | [Annual Information Form dated March 24, 2026 for the fiscal year ended December 31, 2025](annualinformationform-q425.htm) |
| [99.2](itrg-20251231.htm) | [Audited Consolidated Financial Statements for the years ended December 31, 2025 and 2024](itrg-20251231.htm) |
| [99.3](mda-q425.htm) | [Management's Discussion and Analysis dated March 24, 2026 for the year ended December 31, 2025](mda-q425.htm) |
| [99.4](#i33648bec9fc845deb27c0d60d9214add_240) | [Mine Safety Disclosure](#i33648bec9fc845deb27c0d60d9214add_240) |
| [99.5](#i33648bec9fc845deb27c0d60d9214add_260) | [Certification of Chief Executive Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the U.S. Securities Exchange](#i33648bec9fc845deb27c0d60d9214add_260)<br>[Act of 1934, as amended](#i33648bec9fc845deb27c0d60d9214add_260)<br>|
| [99.6](#i33648bec9fc845deb27c0d60d9214add_280) | [Certification of Chief Financial Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the U.S. Securities Exchange](#i33648bec9fc845deb27c0d60d9214add_280)<br>[Act of 1934, as amended](#i33648bec9fc845deb27c0d60d9214add_280)<br>|
| [99.7](#i33648bec9fc845deb27c0d60d9214add_300) | [Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002](#i33648bec9fc845deb27c0d60d9214add_300) |
| [99.8](#i33648bec9fc845deb27c0d60d9214add_7) | [Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002](#i33648bec9fc845deb27c0d60d9214add_7) |
| [99.9](a999_bdocanada40fconsent.htm) | [Consent of BDO Canada LLP](a999_bdocanada40fconsent.htm) |
| [99.10](a9910_mnp40fconsent.htm) | [Consent of MNP LLP](a9910_mnp40fconsent.htm) |
| [99.11](a9911_integra-form40xfxexp.htm) | [Consent of James Frost](a9911_integra-form40xfxexp.htm) |
| [99.12](a9912_integra-form40xfxexp.htm) | [Consent of Todd Harvey](a9912_integra-form40xfxexp.htm) |
| [99.13](a9913_integra-form40xfxexp.htm) | [Consent of Terre Lane](a9913_integra-form40xfxexp.htm) |
| [99.14](a9914_integra-form40xfxexp.htm) | [Consent of Hamid Samari](a9914_integra-form40xfxexp.htm) |
| [99.15](a9915_integra-form40xfxexp.htm) | [Consent of Larry Breckenridge](a9915_integra-form40xfxexp.htm) |
| [99.16](a9916_integra-form40xfxexp.htm) | [Consent of Global Resource Engineering Ltd.](a9916_integra-form40xfxexp.htm) |
| [99.17](a9917_integra-form40xfxexp.htm) | [Consent of Barry Carlson](a9917_integra-form40xfxexp.htm) |
| [99.18](a9918_integra-form40xfxexp.htm) | [Consent of Deepak Malhotra](a9918_integra-form40xfxexp.htm) |
| [99.19](a9919_integra-form40xfxexp.htm) | [Consent of Jeffrey Bickel](a9919_integra-form40xfxexp.htm) |
| [99.20](a9920_integra-form40xfxexp.htm) | [Consent of Sterling (Keith) Watson](a9920_integra-form40xfxexp.htm) |
| [99.21](a9921_integra-form40xfxexp.htm) | [Consent of Jay Nopola](a9921_integra-form40xfxexp.htm) |
| [99.22](a9922_integra-form40xfxexp.htm) | [Consent of William J. Lewis](a9922_integra-form40xfxexp.htm) |
| [99.23](a9923_integra-form40xfxexp.htm) | [Consent of Richard Gowans](a9923_integra-form40xfxexp.htm) |
| [99.24](a9924_integra-form40xfxexp.htm) | [Consent of Christopher Jacobs](a9924_integra-form40xfxexp.htm) |
| [99.25](a9925_integra-form40xfxexp.htm) | [Consent of Andrew Hanson](a9925_integra-form40xfxexp.htm) |
| [99.26](a9926_integra-form40xfxexp.htm) | [Consent of Deepak Malhotra](a9926_integra-form40xfxexp.htm) |
| [99.27](a9927_integra-form40xfxexp.htm) | [Consent of Ralston Pedersen](a9927_integra-form40xfxexp.htm) |
| [99.28](a9928_integra-form40xfxexp.htm) | [Consent of Micon International Limited](a9928_integra-form40xfxexp.htm) |
| [99.29](a9929_integra-form40xfxexp.htm) | <u>[Consent of RESPEC Company LLC](a9929_integra-form40xfxexp.htm)</u> |
| [101.INS](https://www.sec.gov/Archives/edgar/data/1659520/000106299320001571/sil-20191231.xml) | [Inline XBRL Instance](https://www.sec.gov/Archives/edgar/data/1659520/000106299320001571/sil-20191231.xml) Document |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |

---

**Exhibit 99.4**

**MINE SAFETY DISCLOSURE**

The Company is committed to the health and safety of its employees and to providing an incident free workplace. The Company has

one operating mine, the Florida Canyon Mine, located in Nevada, United States. The Florida Canyon Mine is subject to MSHA

regulation under the Mine Act. MSHA inspects our mining operations on a regular basis and issues various citations and orders when

it believes a violation has occurred under the Mine Act.

Under the Dodd-Frank Act, each operator of a U.S. coal or other mine is required to include certain mine safety results within its

periodic reports filed with the SEC. As required by the reporting requirements included in §1503(a) of the Dodd-Frank Act and Item

104 of Regulation S-K (17 CFR 229.104), we present the following items regarding certain mining safety and health matters, for the

year ended December 31, 2025, for the Florida Canyon Mine.

The table that follows reflects citations and orders issued to us by MSHA during the year ended December 31, 2025. The table does

not reflect orders or citations issued to independent contractors working at the Florida Canyon Mine. During the year ended December

31, 2025, the Florida Canyon Mine has not received written notice from MSHA of a pattern of violations or the potential to have such

a pattern of violations of mandatory health or safety standards that are of such nature as could have significantly and substantially

contributed to the cause and effect of coal or other mine health or safety standards under section 104(e) of the Mine Act.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **MSHA Mine** <br>**ID No.**<br>| **Mine Name** | **Section**<br>**104**<br>**S&S**<br>**Citations**<sup>(1)</sup><br>| **Section**<br>**104(b)**<br>**Orders**<sup>(2)</sup><br>| **Section** <br>**104(d)**<br>**Citations** <br>**and**<br>**Orders**<sup>(3)</sup><br>| **Section** <br>**110(b)(2)**<br>**Violations**<sup>(4)</sup><br>| **Section**<br>**107(a)**<br>**Orders**<sup>(5)</sup><br>| **Total Dollar** <br>**Value of**<br>**MSHA** <br>**Assessments**<br>**Proposed**<sup>(6)</sup><br>| **Total** <br>**Number of**<br>**Mining** <br>**Related**<br>**Fatalities**<sup>(7)</sup><br>|
| 2601947 | Florida Canyon Mine | 1 | 0 | 0 | 0 | 0 | $1242 | 0 |
|  | **Total** | 1 | 0 | 0 | 0 | 0 | $1242 | 0 |

---

Notes:

(1)The total number of violations of mandatory health or safety standards that could significantly and substantially contribute to the cause and effect of a coal or

other mine safety or health hazard under section 104 of the Mine Act (30 U.S.C. 814) for which the operator received a citation from MSHA.

(2)The total number of orders issued under section 104(b) of the Mine Act (30 U.S.C. 814(b)).

(3)The total number of citations and orders for unwarrantable failure of the mine operator to comply with mandatory health or safety standards under section

104(d) of the Mine Act (30 U.S.C. 814(d)).

(4)The total number of flagrant violations under section 110(b)(2) of the Mine Act.

(5)The total number of imminent danger orders issued under section 107(a) of the Mine Act (30 U.S.C. 817(a)).

(6)The total dollar value of proposed assessments from MSHA under the Mine Act (30 U.S.C. 801 et seq.).

(7)The total number of mining-related fatalities.

The table below presents legal actions pending before the Federal Mine Safety and Health Review Commission (the "**Commission**")

for the Florida Canyon Mine as of December 31, 2025, together with the number of legal actions initiated and the number of legal

actions resolved during the year ended December 31, 2025.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **MSHA Mine** <br>**ID No.**<br>| **Mine Name** | **Contests of**<br>**Citations**<br>**and Orders**<br>**(Subpart** <br>**B)**<br>| **Contests of**<br>**Proposed**<br>**Penalties**<br>**(Subpart** <br>**C)**<br>| **Complaints for**<br>**Compensation**<br>**(Subpart D)**<br>| **Complaints of**<br>**Discharge,**<br>**Discrimination**<br>**or Interference**<br>**(Subpart E)**<br>| **Applications** <br>**of**<br>**Temporary** <br>**Relief**<br>**(Subpart F)**<br>| **Appeals of** <br>**Judges'**<br>**Decisions** <br>**or**<br>**Orders**<br>**(Subpart** <br>**H)**<br>| **Legal** <br>**Actions**<br>**Initiated**<br>**During the** <br>**Year**<br>| **Legal** <br>**Actions**<br>**Resolved**<br>**During the** <br>**Year**<br>|
| 2601947 | Florida Canyon <br>Mine<br>| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|  | **Total** | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

---

**Exhibit 99.5**

**CERTIFICATION**

I, George Salamis, certify that:

1. I have reviewed this annual report on Form 40-F of Integra Resources Corp.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a

material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not

misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly

present in all material respects the financial condition, results of operations and cash flows of the issuer as of, and for, the periods

presented in this report;

4. The issuer's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and

procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in

Exchange Act Rules 13a-15(f) and 15d-15(f)) for the issuer and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under

our supervision, to ensure that material information relating to the issuer, including its consolidated subsidiaries, is made known to us

by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be

designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of

financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the issuer's disclosure controls and procedures and presented in this report our conclusions

about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such

evaluation; and

d) Disclosed in this report any change in the issuer's internal control over financial reporting that occurred during the period

covered by the annual report that has materially affected, or is reasonably likely to materially affect, the issuer's internal control over

financial reporting; and

5. The issuer's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control

over financial reporting, to the issuer's auditors and the audit committee of the issuer's board of directors (or persons performing the

equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting

which are reasonably likely to adversely affect the issuer's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the

issuer's internal control over financial reporting.

Date: March 24, 2026By: <u>/s/ George Salamis</u>

George Salamis

President and Chief Executive Officer

(Principal Executive Officer)

**Exhibit 99.6**

**CERTIFICATION**

I, Andrée St-Germain, certify that:

1. I have reviewed this annual report on Form 40-F of Integra Resources Corp.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a

material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not

misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly

present in all material respects the financial condition, results of operations and cash flows of the issuer as of, and for, the periods

presented in this report;

4. The issuer's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and

procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in

Exchange Act Rules 13a-15(f) and 15d-15(f)) for the issuer and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under

our supervision, to ensure that material information relating to the issuer, including its consolidated subsidiaries, is made known to us

by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be

designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of

financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the issuer's disclosure controls and procedures and presented in this report our conclusions

about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such

evaluation; and

d) Disclosed in this report any change in the issuer's internal control over financial reporting that occurred during the period

covered by the annual report that has materially affected, or is reasonably likely to materially affect, the issuer's internal control over

financial reporting; and

5. The issuer's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control

over financial reporting, to the issuer's auditors and the audit committee of the issuer's board of directors (or persons performing the

equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting

which are reasonably likely to adversely affect the issuer's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the

issuer's internal control over financial reporting.

Date: March 24, 2026By: <u>/s/ Andrée St-Germain</u>

Andrée St-Germain

Chief Financial Officer

(Principal Financial and Accounting Officer)

**Exhibit 99.7**

CERTIFICATION PURSUANT TO

18 U.S.C. §1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Integra Resources Corp. (the "**Company**") on Form 40-F for the period ended

December 31, 2025 as filed with the Securities and Exchange Commission on the date hereof (the "**Report**"), I, George Salamis,

President and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the

Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)The information contained in this Report fairly presents, in all material respects, the financial condition and results of

operations of the Company.

March 24, 2026 <u>/s/ George Salamis</u>

George Salamis

President and Chief Executive Officer

(Principal Executive Officer)

A signed original of this written statement required by Section 906 has been provided to Integra Resources Corp. and will be

retained by Integra Resources Corp. and furnished to the Securities and Exchange Commission or its staff upon request.

**Exhibit 99.8**

CERTIFICATION PURSUANT TO

18 U.S.C. §1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Integra Resources Corp. (the "**Company**") on Form 40-F for the

period ended December 31, 2025 as filed with the Securities and Exchange Commission on the date hereof (the

"**Report**"), I, Andrée St-Germain, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. §1350, as

adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange

Act of 1934; and

(2)The information contained in this Report fairly presents, in all material respects, the financial condition

and results of operations of the Company.

March 24, 2026 <u>/s/ Andrée St-Germain</u>

Andrée St-Germain

Chief Financial Officer

(Principal Financial and Accounting Officer)

A signed original of this written statement required by Section 906 has been provided to Integra Resources

Corp. and will be retained by Integra Resources Corp. and furnished to the Securities and Exchange Commission or

its staff upon request.

## Exhibit 97.1

![image_1a.jpg](image_1a.jpg)

**INCENTIVE COMPENSATION RECOVERY POLICY**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.Purpose**

The Board of Directors of Integra Resources Corp. (the "Company") believes that it is in the best interests of the Company and its shareholders to create and maintain a culture that emphasizes integrity and accountability and that reinforces the Company's compensation philosophy. The Company's incentive-based compensation plans are intended to align the interests of the Company's executive officers and shareholders through equity and other performance-based compensation plans. The Board has therefore adopted this policy, which provides for the recovery of erroneously awarded incentive compensation in the event that the Company is required to prepare an accounting restatement due to material noncompliance of the Company with any financial reporting requirements under the federal securities laws and/or in the event of detrimental conduct by executive officers, employees, or consultants (the "Policy"). This Policy is designed to comply with Section 10D of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), related rules and the listing standards of the NYSE American LLC ("NYSE American") or any other securities exchange on which the Company's shares are listed in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.Administration** 

This Policy shall be administered by the Board or, if so designated by the Board, the Compensation Committee (the "Committee"), in which case, all references herein to the Board shall be deemed references to the Committee. Any determinations made by the Board shall be final and binding on all affected individuals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.Covered Individuals**

Unless and until the Board determines otherwise, for purposes of this Policy, the term "Covered Individual" means a current or former employee or consultant who is or was identified by the Company as the Company's president, principal financial officer, principal accounting officer (or if there is no such accounting officer, the controller), any vice-president of the Company in charge of a principal business unit, division, or function (such as sales, administration, or finance), any other officer who performs a policy-making function, or any other person (including any executive officer of the Company's subsidiaries or affiliates) who performs similar policy-making functions for the Company. "Policy-making function" excludes policy-making functions that are not significant. "Covered Individuals" will include, at minimum, the executive officers identified by the Company in its disclosure prepared in response to either (i) Item 401(b) of Regulation S-K of the Exchange Act if the Company files its annual report with the United States Securities and Exchange Commission (the "SEC") on Form 10-K or (ii) Item 6.B of Form 20-F if the Company files its annual report with the SEC on Form 20-F.

This Policy covers Incentive Compensation received by a person after beginning service as a Covered Individual and who served as a Covered Individual at any time during the performance period for that Incentive Compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.Recovery: Accounting Restatement**

![image_2.jpg](image_2.jpg)

------

In the event of an "Accounting Restatement," the Company will recover reasonably promptly any excess Incentive Compensation received by any Covered Individual during the three completed fiscal years immediately preceding the date on which the Company is required to prepare an Accounting Restatement, including transition periods resulting from a change in the Company's fiscal year as provided in Rule 10D-1 of the Exchange Act. Incentive Compensation is deemed **"received"** in the Company's fiscal period during which the Financial Reporting Measure specified in the Incentive Compensation award is attained, even if the payment or grant of the Incentive Compensation occurs after the end of that period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.<u>Definition of Accounting Restatement.</u>

For the purposes of this Policy, an "**Accounting Restatement**" means the Company is required to prepare an accounting restatement of its financial statements filed with the SEC due to the Company's material noncompliance with any financial reporting requirements under the federal securities laws (including any required accounting restatement to correct an error in previously issued financial statements that is material to the previously issued financial statements, or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period).

The determination of the time when the Company is **"required"** to prepare an Accounting Restatement shall be made in accordance with applicable SEC and national securities exchange rules and regulations. 

An Accounting Restatement does not include situations in which financial statement changes did not result from material non-compliance with financial reporting requirements, such as, but not limited to retrospective: (i) application of a change in accounting principles; (ii) revision to reportable segment information due to a change in the structure of the Company's internal organization; (iii) reclassification due to a discontinued operation; (iv) application of a change in reporting entity, such as from a reorganization of entities under common control; (v) adjustment to provision amounts in connection with a prior business combination; and (vi) revision for stock splits, stock dividends, reverse stock splits or other changes in capital structure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.<u>Definition of</u> <u>Incentive Compensation</u>.

For purposes of this Policy, "**Incentive Compensation**" means any compensation that is granted, earned, or vested based wholly or in part upon the attainment of a Financial Reporting Measure, including, for example, bonuses or awards under the Company's short and long-term incentive plans, grants and awards under the Company's equity incentive plans, and contributions of such bonuses or awards to the Company's deferred compensation plans or other employee benefit plans. Incentive Compensation does not include awards which are granted, earned and vested without regard to attainment of Financial Reporting Measures, such as time-vesting awards, discretionary awards and awards based wholly on subjective standards, strategic measures or operational measures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.<u>Financial Reporting</u> <u>Measures</u>.

![image_2.jpg](image_2.jpg)

------

**"Financial Reporting Measures"** are those that are determined and presented in accordance with the accounting principles used in preparing the Company's financial statements (including non-GAAP financial measures) and any measures derived wholly or in part from such financial measures. For the avoidance of doubt, Financial Reporting Measures include stock price and total shareholder return. A measure need not be presented within the financial statements or included in a filing with the SEC to constitute a Financial Reporting Measure for purposes of this Policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.<u>Excess Incentive Compensation: Amount Subject to</u> <u>Recovery</u>.

The amount(s) to be recovered from the Covered Individual will be the amount(s) by which the Covered Individual's Incentive Compensation for the relevant period(s) exceeded the amount(s) that the Covered Individual otherwise would have received had such Incentive Compensation been determined based on the restated amounts contained in the Accounting Restatement. All amounts shall be computed without regard to taxes paid.

For Incentive Compensation based on Financial Reporting Measures such as stock price or total shareholder return, where the amount of excess compensation is not subject to mathematical recalculation directly from the information in an Accounting Restatement, the Board will calculate the amount to be reimbursed based on a reasonable estimate of the effect of the Accounting Restatement on such Financial Reporting Measure upon which the Incentive Compensation was received. The Company will maintain documentation of that reasonable estimate and will provide such documentation to the applicable national securities exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.<u>Method of</u> <u>Recovery</u>.

The Board will determine, in its sole discretion, the method(s) for recovering reasonably promptly excess Incentive Compensation hereunder. Such methods may include, without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) &nbsp;&nbsp;&nbsp;&nbsp;requiring reimbursement of compensation previously paid;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) &nbsp;&nbsp;&nbsp;&nbsp;forfeiting any compensation contribution made under the Company's deferred compensation plans, as well as any matching amounts and earnings thereon;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) &nbsp;&nbsp;&nbsp;&nbsp;offsetting the recovered amount from any compensation that the Covered Individual may earn or be awarded in the future (including, for the avoidance of doubt, recovering amounts earned or awarded in the future to such individual equal to compensation paid or deferred into tax–qualified plans or plans subject to the Employee Retirement Income Security Act of 1974 (collectively, **"Exempt Plans"**); *provided that,* no such recovery will be made from amounts held in any Exempt Plan of the Company);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) &nbsp;&nbsp;&nbsp;&nbsp;taking any other remedial and recovery action permitted by law, as determined by the Board; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) &nbsp;&nbsp;&nbsp;&nbsp;some combination of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.Recovery: Detrimental Conduct**

![image_2.jpg](image_2.jpg)

------

In the event the Board makes a good faith determination that a Covered Individual has engaged in Detrimental Conduct, then the Company may recover all or a portion of their Incentive Compensation, or benefits in which they have become vested under the terms of the Company's Deferred Compensation Plan.

The term "**Detrimental Conduct**" means any of the following in relation to the Covered Individual:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;their deliberate and continued failure substantially to perform their duties and responsibilities, which failure has had an adverse effect on the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;their knowing and willful violation of any law, government regulation, the Company Code of Business Conduct and Ethics or Company policy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;their act of fraud or dishonesty resulting, or intended to result in, their personal enrichment at the expense of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;their gross misconduct in performance of their duties that results in economic harm to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.No Indemnification or Advance** 

Subject to applicable law, the Company shall not indemnify, including by paying or reimbursing for premiums for any insurance policy covering any potential losses, any Covered Individuals against the loss of any erroneously awarded Incentive Compensation, nor shall the Company advance any costs or expenses to any Covered Individuals in connection with any action to recover excess Incentive Compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.Interpretation**

The Board is authorized to interpret and construe this Policy and to make all determinations necessary, appropriate or advisable for the administration of this Policy. It is intended that this Policy be interpreted in a manner that is consistent with the requirements of Section 10D of the Exchange Act and any applicable rules or standards adopted by the SEC or any national securities exchange on which the Company's securities are listed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.Effective Date**

The effective date of this Policy is October 2, 2023 (the "Effective Date"). This Policy applies to Incentive Compensation received by Covered Individuals on or after the Effective Date that results from attainment of a Financial Reporting Measure based on or derived from financial information for any fiscal period ending on or after the Effective Date. Without limiting the scope or effectiveness of this Policy, Incentive Compensation granted or received by Covered Individuals prior to the Effective Date remains subject to the Company's prior Compensation Recovery Policy dated May 11, 2023. In addition, this Policy is intended to be and will be incorporated as an essential term and condition of any Incentive Compensation agreement, plan or program that the Company establishes or maintains on or after the Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.Amendment and Termination**

The Board may amend this Policy from time to time in its discretion, and shall amend this Policy as it deems necessary to reflect changes in regulations adopted by the SEC under Section 10D of the

![image_2.jpg](image_2.jpg)

------

Exchange Act and to comply with any rules or standards adopted by NYSE American or any other securities exchange on which the Company's shares are listed in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.Other Recovery Rights**

The Board intends that this Policy will be applied to the fullest extent of the law. Upon receipt of this Policy, each Covered Individual is required to complete the Compliance Certificate attached to this Policy. The Board may require that any employment agreement or similar agreement relating to Incentive Compensation received on or after the Effective Date shall, as a condition to the grant of any benefit thereunder, require a Covered Individual to agree to abide by the terms of this Policy. Any right of recovery under this Policy is in addition to, and not in lieu of, any (i) other remedies or rights of compensation recovery that may be available to the Company pursuant to the terms of any similar policy in any employment agreement, or similar agreement relating to Incentive Compensation, unless any such agreement expressly prohibits such right of recovery, and (ii) any other legal remedies available to the Company. The provisions of this Policy are in addition to (and not in lieu of) any rights to repayment the Company may have under Section 304 of the Sarbanes-Oxley Act of 2002 and other applicable laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11.Impracticability**

The Company shall recover any excess Incentive Compensation in accordance with this Policy, except to the extent that certain conditions are met and the Board has determined that such recovery would be impracticable, all in accordance with Rule 10D-1 of the Exchange Act and the rules and standards of the NYSE American or any other securities exchange on which the Company's shares are listed in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.Successors**

This Policy shall be binding upon and enforceable against all Covered Individuals and their beneficiaries, heirs, executors, administrators or other legal representatives.

REVIEWED AND APPROVED by the Board of Directors of **INTEGRA RESOURCES CORP.** on December 13, 2024.

![image_2.jpg](image_2.jpg)

------

**COMPLIANCE CERTIFICATE**

I, __________________________________________, hereby acknowledge that I have received and read a copy of the Incentive Compensation Recovery Policy. As a condition of my receipt of any Incentive Compensation as defined in the Policy, I hereby agree to the terms of the Policy. I further agree that if recovery of excess Incentive Compensation is required pursuant to the Policy, the Company shall, to the fullest extent permitted by governing laws, require such recovery from me up to the amount by which the Incentive Compensation received by me, and amounts paid or payable pursuant or with respect thereto, constituted excess Incentive Compensation. If any such reimbursement, reduction, cancelation, forfeiture, repurchase, recoupment, offset against future grants or awards and/or other method of recovery does not fully satisfy the amount due, I agree to immediately pay the remaining unpaid balance to the Company.

<br> <br> <br> <br> Signature <br> Date

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

![image_2.jpg](image_2.jpg)

## Exhibit 99.1

![integra_resourcesxlogo2.jpg](integra_resourcesxlogo2.jpg)

**Annual Information Form**

FOR THE FISCAL YEAR ENDED DECEMBER 31, 2025

March 24, 2026

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| [FORWARD LOOKING STATEMENTS](#iacb003812d13406985813c1ebc572bd2) | [4](#iacb003812d13406985813c1ebc572bd2) |
| &nbsp;&nbsp;&nbsp;[Cautionary Note to United States Investors with Respect to Mineral Resources](#id3461171be444ae2846248f992c3fb9e) | [5](#id3461171be444ae2846248f992c3fb9e) |
| &nbsp;&nbsp;&nbsp;[Non-GAAP Measures and Other Financial Measures](#i5b41f490609743968f9d0d9f7928ac8e) | [5](#i5b41f490609743968f9d0d9f7928ac8e) |
| [INTRODUCTION](#i82c181ff9ba24ea5845aa0f35d2a8267) | [5](#i82c181ff9ba24ea5845aa0f35d2a8267) |
| &nbsp;&nbsp;&nbsp;[Currency and Other Information](#i340535c3f2624c94a8021a2f49e52966) | [5](#i340535c3f2624c94a8021a2f49e52966) |
| &nbsp;&nbsp;&nbsp;[Scientific and Technical Information](#i288721a13ffa47329d4c29028ddf0de0) | [6](#i288721a13ffa47329d4c29028ddf0de0) |
| [CORPORATE STRUCTURE](#i79acf7c6f8424cbb968402d754ae8638) | [6](#i79acf7c6f8424cbb968402d754ae8638) |
| &nbsp;&nbsp;&nbsp;[Name, Address and Incorporation](#ibf781ef90d544e15846a8164f123a64e) | [6](#ibf781ef90d544e15846a8164f123a64e) |
| &nbsp;&nbsp;&nbsp;[Intercorporate Relationships](#ie0d6c13dbc2a454db08acb03aa030728) | [7](#ie0d6c13dbc2a454db08acb03aa030728) |
| [GENERAL DEVELOPMENT OF THE BUSINESS](#i9df11367aa424e83a3f40e4bbaf5e885) | [7](#i9df11367aa424e83a3f40e4bbaf5e885) |
| &nbsp;&nbsp;&nbsp;[Overview](#iff6cc89155df472a8683dfcb3e7781aa) | [7](#iff6cc89155df472a8683dfcb3e7781aa) |
| &nbsp;&nbsp;&nbsp;[Three Year History](#i216bb7c7dc1f41908a97ea536088408b) | [8](#i216bb7c7dc1f41908a97ea536088408b) |
| [THE BUSINESS](#ie1c7c20f0cac4cb5b82c552d2a714143) | [14](#ie1c7c20f0cac4cb5b82c552d2a714143) |
| &nbsp;&nbsp;&nbsp;[General Overview](#i9377660143d842159b0812d1a96c248d) | [14](#i9377660143d842159b0812d1a96c248d) |
| &nbsp;&nbsp;&nbsp;[Specialized Skills](#id0073b797dc346c58819933bb6f7bc6d) | [14](#id0073b797dc346c58819933bb6f7bc6d) |
| &nbsp;&nbsp;&nbsp;[Competitive Conditions](#i479cc4ac62b04d7f99f0ec2b2349f5fa) | [14](#i479cc4ac62b04d7f99f0ec2b2349f5fa) |
| &nbsp;&nbsp;&nbsp;[Business Cycles](#i04215789f6a642c0b053b0d99dba1448) | [14](#i04215789f6a642c0b053b0d99dba1448) |
| &nbsp;&nbsp;&nbsp;[Environmental Protection Requirements](#ic2c5e53488f648b5b6e8866b95361d2b) | [14](#ic2c5e53488f648b5b6e8866b95361d2b) |
| &nbsp;&nbsp;&nbsp;[Employees](#ia29cbc90e6234398a90f60d615ba1df8) | [15](#ia29cbc90e6234398a90f60d615ba1df8) |
| &nbsp;&nbsp;&nbsp;[Foreign Operations](#ia72f00dafc9f4b23bba5e48650db0328) | [15](#ia72f00dafc9f4b23bba5e48650db0328) |
| &nbsp;&nbsp;&nbsp;[Social and Environmental Policies](#i15af868ff89c4355817b906c3e65d42a) | [15](#i15af868ff89c4355817b906c3e65d42a) |
| &nbsp;&nbsp;&nbsp;[Principal Markets and Distribution](#i19c1009da607480b88981c25e36d53a6) | [16](#i19c1009da607480b88981c25e36d53a6) |
| &nbsp;&nbsp;&nbsp;[Risk Factors](#idc7f23d2d561459f93cfa55a8da82ed8) | [16](#idc7f23d2d561459f93cfa55a8da82ed8) |
| [MINERAL RESERVES AND MINERAL RESOURCES](#i7a516dcd723948a288fc6394b025f7bc) | [34](#i7a516dcd723948a288fc6394b025f7bc) |
| [FLORIDA CANYON MINE](#ief05f0fdd2a440278715404e54c91a4d) | [38](#ief05f0fdd2a440278715404e54c91a4d) |
| [DELAMAR PROJECT](#i70f22da2243f4f3d8c35ef1d79f1a44a) | [43](#i70f22da2243f4f3d8c35ef1d79f1a44a) |
| [NEVADA NORTH PROJECT](#id931b1ec22ab4018a55b24d3ce0ab02a) | [59](#id931b1ec22ab4018a55b24d3ce0ab02a) |
| [DIVIDENDS AND DISTRIBUTIONS](#ia1f0c557d68741e4bfddba1eaa6d2d3a) | [78](#ia1f0c557d68741e4bfddba1eaa6d2d3a) |
| [DESCRIPTION OF CAPITAL STRUCTURE](#i0462f4c6dbe34d7880d3f8754cb31142) | [78](#i0462f4c6dbe34d7880d3f8754cb31142) |
| &nbsp;&nbsp;&nbsp;[Common Shares](#ic82df476b89647e393a28e7d6a2b3199) | [78](#ic82df476b89647e393a28e7d6a2b3199) |
| &nbsp;&nbsp;&nbsp;[Warrants](#i3cfe71deb5bf4a03a70f088351786099) | [78](#i3cfe71deb5bf4a03a70f088351786099) |
| &nbsp;&nbsp;&nbsp;[Options, RSUs & DSUs](#i8ee6b1c879144455814197d2d422cacb) | [78](#i8ee6b1c879144455814197d2d422cacb) |
| [MARKET FOR SECURITIES](#i1e507ec0f3724df99a0ad79e99e6d97f) | [78](#i1e507ec0f3724df99a0ad79e99e6d97f) |
| &nbsp;&nbsp;&nbsp;[Trading Price and Volume](#i4e9e8e53dd1540ab983dd8611fd2aab2) | [78](#i4e9e8e53dd1540ab983dd8611fd2aab2) |
| [PRIOR SALES](#i4755d4d4fd3f4f878c73858c6394f31e) | [80](#i4755d4d4fd3f4f878c73858c6394f31e) |
| [DIRECTORS AND OFFICERS](#ie8c7eaf26ea548babe4f17add3f1026a) | [81](#ie8c7eaf26ea548babe4f17add3f1026a) |
| &nbsp;&nbsp;&nbsp;[Name, Occupation and Security Holding](#i674b583d86074445a1d7e437655c1cb6) | [81](#i674b583d86074445a1d7e437655c1cb6) |
| &nbsp;&nbsp;&nbsp;[Director and Management Biographies](#i45779b49d04541fd900c7917e2196c93) | [82](#i45779b49d04541fd900c7917e2196c93) |
| &nbsp;&nbsp;&nbsp;[Cease Trade Orders, Bankruptcies, Penalties or Sanctions](#ib5ad2187ba1c489d8adbeca9aa60c82d) | [87](#ib5ad2187ba1c489d8adbeca9aa60c82d) |
| &nbsp;&nbsp;&nbsp;[Conflicts of Interest](#i99d17138ee50497ba800ae233c43c22b) | [88](#i99d17138ee50497ba800ae233c43c22b) |
| &nbsp;&nbsp;&nbsp;[Audit Committee](#i6d1631b5540b49e7bd23d9341899ab1c) | [88](#i6d1631b5540b49e7bd23d9341899ab1c) |
| [LEGAL AND REGULATORY ACTIONS](#i8bd897681e3a44e4bb918ccf0c3dfee0) | [90](#i8bd897681e3a44e4bb918ccf0c3dfee0) |
| [INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS](#i40b2c74f05d9427fb98c6f61ed0b60dc) | [90](#i40b2c74f05d9427fb98c6f61ed0b60dc) |

---

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

---

| | |
|:---|:---|
| [TRANSFER AGENT AND REGISTRAR](#i3af175a083744457a01e9417a0588737) | [90](#i3af175a083744457a01e9417a0588737) |
| [MATERIAL CONTRACTS](#i964b7fb53ecb4efc9228241beaaab48c) | [91](#i964b7fb53ecb4efc9228241beaaab48c) |
| [INTERESTS OF EXPERTS](#i300f0aedb0f644d7b20cd78f612ecb1f) | [91](#i300f0aedb0f644d7b20cd78f612ecb1f) |
| [ADDITIONAL INFORMATION](#ie56d49b3f24f4887bfb745d712351ece) | [91](#ie56d49b3f24f4887bfb745d712351ece) |

---

Schedule "A" – Glossary

Schedule "B" – Audit Committee Charter

------

**Annual Information Form**

Year Ended December 31, 2025

All amount in USD unless otherwise stated

**FORWARD LOOKING STATEMENTS**

This annual information form ("**AIF**" or "**Annual Information Form**") of Integra Resources Corp. ("**Integra**" or the "**Company**") contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation. Forward-looking statements are included to provide information about management's current expectations and plans that allows investors and others to get a better understanding of the Company's operating environment, business operations and financial performance and condition. Forward-looking statements relate, but are not limited, to: the planned exploration, development and mining activities and expenditures of the Company, including estimated production, cash costs, all-in sustaining costs and capital expenditures; the estimation, realization and growth of mineral resource and reserve estimates; the development, operational and economic results of economic studies on the Company's projects; magnitude or quality of mineral deposits; anticipated advancement, timing and results of permitting for the Company's projects; benefits of non-GAAP measures; anticipated advancement of the Company's projects and future exploration prospects; the future price of metals; government regulation of mining operations; environmental risks; relationships with local communities; and future growth potential of the Company's projects. Forward-looking statements are often identified by the use of words such as "may", "will", "could", "would", "anticipate", 'believe", "expect", "intend", "potential", "estimate", "budget", "scheduled", "plans", "planned", "forecasts", "goals" and similar expressions.

Forward-looking statements are based on a number of factors and assumptions made by management and considered reasonable at the time such statement was made. Assumptions and factors include: the Company's abilities to complete its planned exploration and development programs; the absence of adverse conditions at the Company's projects; no unforeseen operational delays; no material delays in obtaining necessary permits; results of independent engineer technical reviews; the possibility of cost overruns and unanticipated costs and expenses; the price of gold remaining at levels that continue to render the Company's projects economic, as applicable; the Company's ability to continue raising necessary capital to finance operations; and the ability to realize on the mineral resource and reserve estimates. Forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: general business, economic and competitive uncertainties; the actual results of current and future exploration activities; conclusions of economic evaluations; meeting various expected cost estimates; changes in project parameters and/or economic assessments as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; risks related to local communities; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); title to properties; and other factors beyond the Company's control and as well as those factors included herein and elsewhere in the Company's disclosure. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. This list in not exhaustive of the factors that may affect any of the Company's forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions and have attempted to identify important factors that could cause actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. See the section entitled "*The Business – Risk Factors*" below for additional risk factors that could cause results to differ materially from forward-looking statements.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

Investors are cautioned not to put undue reliance on forward-looking statements. The forward looking-statements contained herein are made as of the date of this Annual Information Form and, accordingly, are subject to change after such date. The Company disclaims any intent or obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. Investors are urged to read the Company's filings with Canadian securities regulatory agencies, which can be viewed online under the Company's profile on SEDAR+ at <u>www.sedarplus.ca</u> and on EDGAR at <u>www.sec.gov</u>.

***Cautionary Note to United States Investors with Respect to Mineral Resources***

National Instrument 43-101 – *Standards of Disclosure for Mineral Projects* ("**NI 43-101**") is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Technical disclosure contained in this AIF has been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum (the CIM Definition Standards). These standards differ from the requirements of the U.S. Securities and Exchange Commission ("**SEC**"). Accordingly, Mineral Resource and Reserve information contained in this AIF may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements.

***Non-GAAP Measures and Other Financial Measures***

Certain performance measures and ratios that have been included in this AIF do not have any standardized meaning prescribed by IFRS ("**Non-GAAP Measures**"), including free cash flow, working capital, operating margin, cash costs, and all-in sustaining costs. This AIF presents these Non-GAAP Measures as it is understood that certain investors will use this information to evaluate the Company's performance in comparison to other mining companies in the precious metals mining industry who present results on a similar basis. Other companies may calculate these measures differently as a result of differences in the underlying accounting principles, policies applied and in accounting frameworks, such as in IFRS, and as such these measures might not be comparable to the similar financial measures disclosed by other companies. Accordingly, the presentation of these Non-GAAP Measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. For a reconciliation of these measures to the most directly comparable financial information reported in the Company's audited consolidated financial statements for the year ended December 31, 2025 prepared in accordance with IFRS, and for an explanation of the composition and usefulness of these measures, please see the "Non-GAAP Financial Measures" section of the Company's Management's Discussion and Analysis for the year ended December 31, 2025, which section is incorporated by reference in the Annual Information Form. The Company's Management's Discussion and Analysis for the year ended December 31, 2025 may be found on SEDAR+ at <u>www.sedarplus.ca</u> and on EDGAR at <u>www.sec.gov</u>.

**INTRODUCTION**

***Currency and Other Information***

Unless otherwise indicated, all references to "**US$**" or "**$**" in this AIF are to U.S. dollars and all references to "**C$**" in this AIF are to Canadian dollars.

The following table reflects the low and high rates of exchange for one United States dollar, expressed in Canadian dollars, during the periods noted, the rates of exchange at the end of such periods and the average rates of exchange during such periods, based on the Bank of Canada daily exchange rates for 2025, 2024 and 2023.

---

| | | | |
|:---|:---|:---|:---|
| | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
| | **2025** | **2024** | **2023** |
| Low for the period | C$1.3558 | C$1.3316 | C$1.3128 |
| High for the period | C$1.3558 | C$1.4416 | C$1.3875 |

---

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

---

| | | | |
|:---|:---|:---|:---|
| Rate at the end of the period | C$1.3706 | C$1.4389 | C$1.3226 |
| Average | C$1.3978 | C$1.3698 | C$1.3497 |

---

On March 23, 2026 the Bank of Canada daily average rate of exchange was C$1.00 = US$0.7290 or US$1.00 = C$1.3717.

***Scientific and Technical Information***

Unless otherwise indicated, the scientific and technical information contained in this AIF relating to the Projects has been reviewed and approved by James Frost, P.Eng., the Company's Director, Technical Services, and a qualified person within the meaning of NI 43-101.

**CORPORATE STRUCTURE**

***Name, Address and Incorporation***

Integra was incorporated under the OBCA on April 15, 1997 as Berkana Digital Studios Inc. On December 4, 1998, the name of the Company was changed to Claim Lake Resource Inc. and on April 5, 2005, the Company completed a 2 for 1 consolidation and changed its name to Fort Chimo Minerals Inc. On January 1, 2009, the Company amalgamated with its wholly-owned subsidiary, Limestone Basin Exploration Ltd. The amalgamated company continued to operate as Fort Chimo Minerals Inc. On June 14, 2011, the Company completed a 5 to 1 consolidation and changed its name to Mag Copper Limited. The Company completed a 5 to 1 consolidation on September 2, 2015. In January 2017 and August 2017, the Company completed a 5 to 1 and 2.5 to 1 consolidation, respectively. On August 11, 2017, the Company changed its name to Integra Resources Corp.

On June 29, 2020, the Company completed the continuation (the "**Continuation**") of the Company from the Province of Ontario to the Province of British Columbia. As a result of the Continuation, the *Business Corporations Act* (Ontario) no longer applies to the Company and the Company is subject to the *Business Corporations Act* (British Columbia) (the "**BCBCA**") as if it had been originally incorporated under the BCBCA. In connection with the Continuation, the articles and by-laws of the Company were replaced with notice of articles and articles. The notice of articles and articles are substantially similar to the former articles and by-laws of the Company. Changes include alterations to permit the Board to make certain changes to the capital structure of the Company; alterations to the advance notice requirements; alterations to the quorum requirement for the transaction of business at a Board meeting; alterations to the threshold to satisfy quorum to include 25% of the common shares of the Company (the "**Common Shares**") entitled to be voted at the meeting; alterations to the record date for the purpose of dividend declaration; and alterations to the type of resolution required to remove a director before the expiration of his or her term. On July 9, 2020, the Company completed a 2.5 to 1 consolidation.

On May 4, 2023, the Company completed an at-market merger with Millennial Precious Metals Corp ("**Millennial**"). As a result of the transaction, Millennial became a wholly owned subsidiary of Integra. On May 26, 2023, the Company completed a 2.5 to 1 consolidation of the Common Shares (the "**Consolidation**").

On November 8, 2024, the Company completed a business combination with FCGI. As a result of the transaction, FCGI became a wholly owned subsidiary of Integra.

The Company's head office is located at 1050 – 400 Burrard Street, Vancouver, BC V6C 3A6 and its registered office is located at 2200 RBC Place, 885 West Georgia Street Vancouver, BC V6C 3E8.

The Company delisted from the Canadian Securities Exchange on November 6, 2017, and commenced trading on the TSX Venture Exchange (the "**TSX-V**") on November 7, 2017, under the trading symbol "ITR". In January 2018, the Company began trading in the United States on the OTCQB under the stock symbol "IRRZF" and subsequently graduated to the OTCQX on May 1, 2018. On July 31, 2020, the Company began trading on the NYSE American, LLC (the "**NYSE American**") under the symbol "ITRG". The Company ceased trading on the OTCQX concurrently with the NYSE American listing. The Company

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

continues to be listed on the TSX-V under the trading symbol "ITR". The Company's warrants trade on the TSX-V under the symbol "ITR.WT".

Unless otherwise noted or inconsistent with the context, references to Integra or the Company in this AIF are references to Integra Resources Corp. and its subsidiaries.

***Intercorporate Relationships***

The following diagram illustrates the intercorporate relationships among Integra and its subsidiaries, as well as the jurisdiction of incorporation of each entity.

![image4a.jpg](image4a.jpg)

**GENERAL DEVELOPMENT OF THE BUSINESS**

***Overview***

Integra is a growing Canadian-based precious metals producer focused on gold mining, mine development and mineral exploration activities in the Great Basin of the Western United States. The Company's principal focus includes operating its Florida Canyon mining operation ("**Florida Canyon**" or the "**Florida Canyon Mine**") and engaging in exploration and development of its two flagship development-stage heap leach projects: the past producing DeLamar Project ("**DeLamar**" or "**DeLamar Project**") in southwestern Idaho, and the Nevada North Project ("**Nevada North**" or "**Nevada North Project**") in western Nevada.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

***Three Year History***

***2023***

*Millennial Transaction*

On February 27, 2023, the Company announced that it had entered into an arm's length definitive arrangement agreement dated February 26, 2023 for an at-market merger with Millennial pursuant to which Integra would acquire all of the issued and outstanding shares of Millennial by way of a court-approved plan of arrangement under the BCBCA (the "**Millennial Transaction**"). The Millennial Transaction was approved by Millennial's shareholders on April 26, 2023 and subsequently closed on May 4, 2023.

In connection with closing of the Millennial Transaction, the Company reorganized its management team and board of directors (the "**Board**"). Jason Kosec, former Director, President and CEO of Millennial, was appointed Director, President and CEO of Integra. George Salamis, former Director, President and CEO of Integra was appointed Executive Chair, Stephen de Jong stepped down from Integra's Chair position, but remained on the Board as Lead Director. David Awram stepped down from the Board but remained an advisor to the Company. Sara Heston and Eric Tremblay were appointed to the Board. Timo Jauristo, Anna Ladd-Kruger, C.L. "Butch" Otter and Carolyn Clark Loder remained on the Board. Former Chief Geologist and Director of Millennial, Ruben Padilla, serves as a technical advisor to Integra. E. Max Baker transitioned from the role of Vice President Exploration to Chief Geologist of the Company. Raphael Dutaut, former Vice President Exploration of Millennial, joined Integra as Vice President Exploration. Jason Banducci, former Vice President Corporate Development of Millennial, joined Integra as Vice President Corporate Development.

*Management*

On December 20, 2023, the Company announced that Tim Arnold, the Company's Chief Operating Officer would retire from the Company at the end of 2023. The Company also announced the appointment of Scott Olsen to Vice President, Engineering – Processing and Infrastructure.

*Financings*

Concurrent with the announcement of the Millennial Transaction, the Company announced that it had entered into an agreement with Raymond James Ltd., BMO Capital Markets and Cormark Securities Inc., as joint bookrunners (collectively, the "**2023 Underwriters**"), in connection with a bought deal private placement of subscription receipts (each, a "**2023 Subscription Receipt**"). On March 16, 2023, the Company and the 2023 Underwriters completed the sale of 14,000,000 post-Consolidation 2023 Subscription Receipts at a price of C$1.75 per post-Consolidation 2023 Subscription Receipt (the "**2023 Issue Price**") for gross proceeds of C$24.5 million (the "**2023 Brokered Offering**"). Each 2023 Subscription Receipt represented the right of a holder to receive, upon satisfaction or waiver of certain release conditions (including the satisfaction of all conditions precedent to the completion of the Millennial Transaction other than the issuance of the Common Shares to shareholders of Millennial) (the "**2023 Escrow Release Conditions**"), without payment of additional consideration, one Common Share, subject to adjustments and in accordance with the terms and conditions of a subscription receipt agreement dated March 16, 2023 (the "**2023 Subscription Receipt Agreement**") as among the Company, TSX Trust Company as the subscription receipt agent, the 2023 Underwriters and Wheaton Precious Metals Corp. ("**Wheaton**"). See "2023 Non-Brokered Offering" subheading below.

The 2023 Escrow Release Conditions were met on May 4, 2023 and as a result, Integra issued 14,000,000 post-Consolidation Common Shares and received gross proceeds of C$24.5 million.

Concurrent with the announcement of the Millennial Transaction, the Company announced that it had entered into an agreement with Wheaton, and a wholly-owned subsidiary of Wheaton, pursuant to which Wheaton agreed to purchase the lesser of: (a) C$15 million of 2023 Subscription Receipts at the 2023 Issue Price; (b) such number of 2023 Subscription Receipts that would result in Wheaton owning 9.9% of

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

the issued and outstanding Common Shares (following the completion of the proposed Millennial Transaction and the conversion of the 2023 Subscription Receipts issuable to Wheaton and pursuant to the 2023 Brokered Offering); and (c) 30% of the combined 2023 Subscription Receipts to be issued to Wheaton and investors in the 2023 Brokered Offering (the "**2023 Non-Brokered Offering**"). On March 16, 2023, the Company and Wheaton completed the 2023 Non-Brokered Offering, resulting in the issuance and sale to Wheaton of 6,000,000 post-Consolidation 2023 Subscription Receipts for aggregate gross proceeds of C$10.5 million.

The 2023 Escrow Release Conditions were met on May 4, 2023 and as a result, Integra issued 6,000,000 post-Consolidation Common Shares and received gross proceeds of C$10.5 million.

In connection with the 2023 Non-Brokered Offering, the Company entered into an investor rights agreement dated March 16, 2023 (the "**Wheaton IRA**") and a right of first refusal agreement dated May 4, 2023 (the "**ROFR Agreement**") with Wheaton entities providing Wheaton with certain participation rights in future equity offerings by Integra and a right of first refusal on precious metals royalties, streams or pre-pays pertaining to any properties of Integra or its affiliates, including the Millennial properties acquired in the Millennial Transaction, and any properties Integra acquires in the future within a five kilometer radius of the outer perimeter of the foregoing properties or is otherwise acquired in connection with or for the use of the projects held by Integra (including the Millennial properties acquired in the Millennial Transaction).

*Maiden Preliminary Economic Assessment for the Nevada North Project*

On August 14, 2023 the Company filed a technical report for the Nevada North Project entitled "*NI 43-101 Technical Report Preliminary Economic Assessment for the Wildcat and Mountain View Projects, Pershing and Washoe Counties, Nevada, USA*" dated July 30, 2023, with an effective date of June 28, 2023. The technical report is available on the Company's profile on SEDAR+ at <u>www.sedarplus.ca</u>. For further details regarding the Nevada North Project, please refer to the "Nevada North Project" section below.

*Updated Mineral Resource Estimate for the DeLamar Project*

On November 8, 2023 the Company filed a technical report for the DeLamar Project entitled "*Technical Report for the DeLamar and Florida Mountain Gold – Silver Project, Owyhee County, Idaho, USA*" dated October 31, 2023 with an effective date of August 25, 2023. The technical report is available on the Company's profile on SEDAR+ at <u>www.sedarplus.ca</u>. For further details regarding the DeLamar Project, including on the Company's current DeLamar Report, please refer to the "DeLamar Project" section below.

***2024***

*Wheaton Royalty Transaction*

On February 21, 2024, Integra announced that through its wholly-owned subsidiary, DeLamar Mining Company, it has entered into a binding agreement with Wheaton Precious Metals (Cayman) Co., a wholly-owned subsidiary of Wheaton Precious Metals (the "**Wheaton Royalty Transaction**"), pursuant to which Wheaton Precious Metals (Cayman) Co. acquired a 1.5% net smelter returns royalty on metal production from all claims of the DeLamar Project for an aggregate cash purchase price of US$9.75 million, to be paid in two installments. The first instalment of US$4.875 million was received by Integra on March 8, 2024. The second installment of US$4.875 million was received on July 12, 2024.

*Rich Gulch LLC Land Acquisition*

On March 8, 2024, Integra completed the acquisition of 17 patented claims in the Rich Gulch area of the DeLamar Project. Under the terms of the purchase agreement, Integra acquired all of the interests in such claims in exchange for US$2.1 million, which was satisfied through the issuance of 2,959,769 Common Shares.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

*Unit Offering*

On March 13, 2024, Integra announced the completion of a bought deal public offering, pursuant to which Integra issued a total of 16,611,750 units (the "**Units**"), including the full exercise of the over-allotment option by a syndicate of underwriters led by Cormark Securities Inc., and including BMO Nesbitt Burns Inc., Desjardins Securities Inc., Eight Capital, Ventum Financial Corp., Raymond James Ltd. and Stifel Nicolaus Canada Inc. (collectively, the "**Underwriters**"), at a price of C$0.90 per Unit for aggregate gross proceeds of C$14,950,575 (the "**Unit Offering**"). The Units were issued pursuant to a definitive underwriting agreement dated March 7, 2024 as among the Company and the Underwriters. Each Unit was comprised of one Common Share and one-half (½) of one Common Share purchase warrant (each whole warrant, a "**Warrant**"). The Warrants were issued pursuant to, and are governed by, a warrant indenture between the Company and TSX Trust Company dated March 13, 2024 (the "**Warrant Indenture**"). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of C$1.20 per Common Share until March 13, 2027. The Warrants issued pursuant to the Unit Offering were listed on the TSX-V on March 22, 2024 under the symbol "ITR.WT".

*GreenLight Metals Option*

On June 11, 2024, Millennial Silver Nevada Inc. ("**MSN**"), a wholly-owned subsidiary of Integra, entered into an option agreement with GreenLight Metals USA Corporation, a wholly-owned subsidiary of Green Light Metals Inc. ("**GreenLight**"), regarding the Cerro Colorado Property ("**Cerro Colorado**"), located within the Pima Mining District, 70 kilometers ("**km**") (~43 miles) southwest of Tucson, Arizona. MSN currently owns 100% of the membership interests (the "**Interests**") in Millennial Arizona LLC ("**Millennial Arizona**") which, pursuant to a mining lease and option to purchase agreement, holds the right to acquire Cerro Colorado. As part of the agreement, MSN has granted GreenLight an exclusive option for a period of 12 months to purchase the Interests in Millennial Arizona. GreenLight is a private company focused on critical minerals exploration in the United States. Pursuant to the terms of the agreement, MSN granted to GreenLight an exclusive option to purchase the Interests as set forth in a membership interest purchase agreement for a period of 12 months. In consideration for the grant of the option, GreenLight has agreed to deliver common shares (the "**GreenLight Shares**") valued at no less than C$500,000 to Integra. The GreenLight Shares were paid in two tranches: (i) the first tranche of GreenLight Shares, valued at no less than C$250,000, was delivered on June 13, 2024; and (ii) the second tranche of GreenLight Shares, valued at no less than C$250,000, was delivered on December 30, 2024. GreenLight elected to not exercise the purchase option under the option agreement and the option agreement expired on June 11, 2025.

*FCGI Transaction*

On July 29, 2024, Integra announced that it had entered into a definitive agreement dated July 28, 2024 (the "**Arrangement Agreement**") pursuant to which Integra agreed to acquire all of the issued and outstanding common shares (the "**FCGI Shares**") of FCGI by way of a court-approved plan of arrangement (the "**Florida Canyon Transaction**"). On September 3, 2024, Integra entered into an agreement to amend certain terms of the Arrangement Agreement. The Florida Canyon Transaction was approved by FCGI's shareholders on October 25, 2024.

On November 8, 2024, Integra announced the completion of the Florida Canyon Transaction. Under the terms of the Florida Canyon Transaction, shareholders of FCGI received 0.467 of a Common Share of Integra for each FCGI Share held. Integra filed a Form 51-102F4 – Business Acquisition Report dated November 8, 2024, in respect of the acquisition of all of the issued and outstanding FCGI Shares.

In connection with the closing of the Florida Canyon Transaction, Sara Heston and Stephen de Jong resigned from the Board and Janet Yang and Ian Atkinson were appointed to the Board.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

*Financings*

Concurrent with the announcement of the Florida Canyon Transaction, the Company announced that it had entered into an agreement with Stifel Nicolaus Canada Inc. and Eight Capital, as co-lead underwriters and joint bookrunners (collectively, the "**2024 Underwriters**"), in connection with a bought deal private placement of 14,900,000 subscription receipts (each, a "**2024 Subscription Receipt**") at a price of C$1.35 per 2024 Subscription Receipt (the "**2024 Issue Price**") for aggregate gross process of C$20,115,000. On August 20, 2024, Integra and the 2024 Underwriters entered into a definitive underwriting agreement and completed the sale of 14,900,000 2024 Subscription Receipts at the 2024 Issue Price. Each 2024 Subscription Receipt represented the right of a holder to receive, upon satisfaction or waiver of certain release conditions (including the satisfaction of all conditions precedent to the completion of the Florida Canyon Transaction other than the issuance of the Common Shares to shareholders of FCGI) (the "**2024 Escrow Release Conditions**"), without payment of additional consideration, one Common Share, subject to adjustments and in accordance with the terms and conditions of a subscription receipt agreement dated August 21, 2024 (the "**2024 Subscription Receipt Agreement**") as among the Company, TSX Trust Company as the subscription receipt agent, the 2024 Underwriters.

The 2024 Escrow Release Conditions were met on November 8, 2024 and as a result, Integra issued 14,900,000 Common Shares and received gross proceeds of C$20,115,000.

*Beedie Capital Credit Facility*

On February 21, 2024, Integra announced that it had entered into a third supplemental agreement dated February 20, 2024 (the "**Third Supplemental Agreement**"), to amend the convertible loan agreement between Beedie Investments Ltd. ("**Beedie Capital**") and Integra dated July 28, 2022 (the "**Loan Agreement**"), pursuant to which, among other items, Beedie Capital consented to the Wheaton Royalty Transaction and the parties agreed to amend the participation rights afforded to Beedie Capital with respect to future equity financings under the Loan Agreement.

On July 28, 2024, Integra entered into a fourth supplemental agreement to the Loan Agreement (the "**Fourth Supplemental Agreement**") pursuant to which, among other items: (i) Beedie Capital consented to the Florida Canyon Transaction; (ii) Integra agreed that upon completion of the Florida Canyon Transaction, FCGI and its subsidiaries will become loan parties and provide guarantees and security for Integra's obligations under the Loan Agreement; and (iii) Beedie Capital agreed to a second advance in the amount of $5,000,000 subject to satisfaction of certain conditions set out in the Fourth Supplemental Agreement (the "**Second Advance**").

Pursuant to the Fourth Supplemental Agreement, Beedie Capital and Integra further agreed to, conditional upon closing of the Florida Canyon Transaction, amend the terms of the Loan Agreement to provide for the following: (i) modification of the conversion price on the initial advance of $10 million (the "**Initial Advance**") under the Loan Agreement from C$2.3625 per Common Share (on a post-Consolidation basis) to a 25% premium to the 2024 Issue Price, being C$1.6875; (ii) extension of the maturity date of the Loan Agreement from July 28, 2025 to July 31, 2027; (iii) extension of the period during which scheduled interest payments will be capitalized as principal from the current expiry date of July 31, 2024 to December 31, 2024; (iv) modification of the make-whole fee from the amount of interest Integra would have paid had the full facility available under the Loan Agreement continued for 30 months from the Initial Advance to 48 months from the Initial Advance; and (v) modification of the covenant requiring Integra to maintain a balance of unrestricted cash no less than $2 million to $5 million. The Company announced on November 8, 2024 that it had drawn a Second Advance in the principal amount of $5 million, with a conversion price equal to C$1.6875 per Common Share.

On November 8, 2024, Integra entered into a fifth supplemental agreement to the Loan Agreement (the "**Fifth Supplemental Agreement**") pursuant to which Beedie Capital agreed to amend the definition of permitted funded debt to facilitate the Florida Canyon Transaction.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

***2025***

*Corporate*

On January 10, 2025, the Board appointed George Salamis as President, Chief Executive Officer and Director and Anna Ladd-Kruger as Chair of the Board, effective immediately. Mr. Salamis succeeded Jason Kosec as Integra's President and Chief Executive Officer. Mr. Kosec also resigned as a director of the Company.

On February 20, 2025, the Company announced that the Board had appointed Dale Kerner as Vice President of Permitting.

On March 25, 2025, the Company announced that the Board had appointed Clifford Lafleur as Chief Operating Officer.

On March 27, 2025, BDO Canada LLP was appointed as the auditor of the Company, replacing MNP LLP which resigned as auditor effective as of the same day.

On March 28, 2025, the Company announced that the Board had appointed Sean Deissner as Vice President, Finance.

On April 2, 2025, the Company announced the appointment of Lieutenant General (Ret.) Leonard Kosinski as an advisor to the Board.

On October 9, 2025, the Company announced the resignation of Eric Tremblay as a director of the Company.

*Beedie Capital Facility*

On March 11, 2025, Integra entered into a sixth supplemental agreement to the Loan Agreement, pursuant to which Beedie Capital agreed to consent to certain agreements related to the Company's hedging transaction facility.

On December 22, 2025, the Company announced the full conversion and repayment of the Beedie Capital convertible debenture facility (the "**Facility**") under the Loan Agreement, as amended. Pursuant to the terms of the Loan Agreement, the Company issued a total of 12,295,081 Common Shares at a deemed price per Common Share of C$1.6875 (US$1.22) to retire the full US$15 million principal amount drawn under the Facility and paid US$2,896,712 in accrued interest and standby fees. In connection with the conversion and repayment of the Facility, the Facility has been retired and certain assets secured under the Loan Agreement have been released. There are no further amounts due or owing to Beedie Capital under the Loan Agreement.

Pursuant to the terms of the Loan Agreement, certain provisions including, but not limited to, Beedie Capital's Board observer and nomination rights, and pre-emptive rights, survive termination of the Facility. In connection with the conversion and repayment of the Facility, the Company agreed to amend the termination provisions of Beedie Capital's Board nomination right such that Beedie Capital's right to nominate an individual to the Board will not terminate when Beedie Capital owns less than 10% of the Company's issued and outstanding Common Shares (the "**Nominating Threshold**") and will reinstate if Beedie Capital satisfies the Nominating Threshold at any time after not meeting the Nominating Threshold provided Beedie Capital at all times holds not less than 7.5% of the issued and outstanding Common Shares.

*Florida Canyon Mine*

On January 22, 2025, the Company announced production results for the year ended December 31, 2024.

*DeLamar Project*

On April 2, 2025, the Company announced that it had submitted the updated Mine Plan of Operations ("**MPO**") to the U.S. Bureau of Land Management ("**BLM**") for the DeLamar Project.

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

On August 15, 2025, the Company announced that the Company had entered into a relationship agreement with the Shoshone-Paiute Tribes of the Duck Valley Indian Reservation whose aboriginal territories cover much of the tri-state area of Idaho, Nevada, and Oregon, including the location of the DeLamar Project.

On September 4, 2025, the Company announced that the updated MPO for the DeLamar Project had been determined by the BLM to have met the content requirements of the United States Code of Federal Regulations, Title 43 Subpart 3809.

On December 17, 2025, the Company delivered its feasibility study for the DeLamar Project that confirmed robust economics for a low-cost, large-scale, conventional open pit oxide heap leach operation, with competitive operating costs and high rate of return.

*Nevada North Project*

On May 14, 2025, the Company announced as part of its financial and operating results for the three months ended March 31, 2025 that the Company submitted a "Mountain View Exploration Plan of Operations" and "Nevada Reclamation Permit Application" to the BLM Black Rock Field Office and the Nevada Division of Environmental ***Protection.***

***Subsequent to December 31, 2025***

*Corporate*

On February 23, 2026, the Company provided production, operating costs, sustaining and growth capital, and development spending guidance for 2026. The Company also provided a production outlook for the Florida Canyon Mine for 2027 and 2028.

On March 2, 2026, the Company announced that the Board had appointed Scott Guay as Vice President, Project Development.

On March 12, 2026, the Company announced that it had appointed Chantal Lavoie to the Board.

*Financing*

On February 9, 2026, the Company announced the completion of a bought deal public offering, pursuant to which Integra issued a total of 18,121,600 Common Shares at a price of $3.40 per Common Share for aggregate gross proceeds of $61,613,440 (the "**2026 Public Offering**"), including the full exercise of the over-allotment option by a syndicate of underwriters led by Canaccord Genuity Corp. and Stifel Nicolaus Canada Inc. as co-lead underwriters and joint bookrunners, and including ATB Capital Markets Corp., Desjardins Securities Inc. and Raymond James Ltd. (the "**2026 Underwriters**"). The 2026 Public Offering was completed pursuant to an underwriting agreement dated February 4, 2026 (the "**2026 Underwriting Agreement**") entered into among the Company and the 2026 Underwriters.

*Florida Canyon Mine*

On January 26, 2026, the Company announced production results for the year ended December 31, 2025.

*DeLamar Project*

On January 12, 2026, the BLM formally established a federal permitting schedule under the National Environmental Policy Act ("**NEPA**") for the Company's DeLamar Project. The BLM-defined schedule contemplates publication of a Notice of Intent ("**NOI**") in the second quarter of 2026, followed by an anticipated 15-month NEPA review period, culminating in the issuance of an Environmental Impact Statement ("**EIS**") and Record of Decision ("**ROD**") in the third quarter of 2027.

On January 14, 2026, the Company announced that the DeLamar Project has been selected for inclusion in the United States Federal Permitting Improvement Steering Council FAST-41 Transparency Projects

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

Program, a federal permitting framework designed to improve interagency coordination and increase transparency.

On February 2, 2026, the Company filed the DeLamar Report (as defined below). The DeLamar Report is available under the Company's profile on SEDAR+ at <u>www.sedarplus.ca</u>. For further details regarding the DeLamar Project, please refer to the "DeLamar Project" section below.

On February 17, 2026, the Company completed the acquisition of a strategically located 6,600-acre ranch contiguous with the DeLamar Project for a purchase price of $12,500,000.

**THE BUSINESS**

***General Overview***

Integra is a growing Canadian-based precious metals producer focused on gold mining, mine development and mineral exploration activities in the Great Basin of the Western United States. The Company's principal focus includes operating the Florida Canyon Mine and engaging in exploration and development of its two flagship development-stage heap leach projects: the past producing DeLamar Project in southwestern Idaho, and the Nevada North Project in western Nevada.

Previous to the acquisition of the Florida Canyon Mine on November 8, 2024, Integra owned no producing properties and, consequently, had no operating income or cash flow from its properties, nor had it had any income from operations in the financial year ended December 31, 2023. As a consequence, operations of Integra were primarily funded by equity financings until the acquisition of the Florida Canyon Mine.

Please see "General Development of the Business – Three Year History" and "General Development of the Business – Trends and Outlook" sections above and "Florida Canyon Mine", "DeLamar Project" and "Nevada North Project" sections below for further details on the Projects.

***Specialized Skills***

Integra's business requires specialized skills and knowledge in the areas of mining operations, geology, drilling, planning, implementation of exploration programs, compliance, engineering, metallurgy, economic studies, project development, permitting. To date, Integra has been able to locate and retain such professionals in Canada and the United States and believes it will continue to do so.

***Competitive Conditions***

Integra operates in a very competitive industry and competes with other companies, many of which have greater technical and financial facilities for the recruitment and retention of qualified employees, as well as for the acquisition and development of mineral properties

***Business Cycles***

The precious metals sector is very volatile and cyclical. Despite the gold price being at an all-time high, appetite for gold and silver mining equities remain volatile. In addition to commodity price cycles and recessionary periods, exploration activity may also be affected by seasonal and irregular weather conditions in Idaho and Nevada.

***Environmental Protection Requirements***

Integra's operations are subject to environmental regulations promulgated by government agencies from time to time. Environmental legislation mandates, among other things, the maintenance of air and water

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

quality standards and land reclamation. Such legislation also sets forth limitations on the general handling, transportation, storage, and disposal of solid and hazardous waste. A breach of such legislation may result in imposition of fines and penalties. Certain types of operations may also require the submission and approval of environmental impact assessments.

Environmental legislation is evolving in a manner that means stricter standards, and enforcement, fines and penalties for non-compliance are more stringent. Environmental assessments of proposed projects carry a heightened degree of responsibility for companies including its directors, officers and employees. To the best knowledge of the Company, it is in compliance with all environmental laws and regulations in effect where its properties are located. None of the Company's sites were charged with fines or sanctions related to environmental incidents in 2025.

The cost of compliance with changes in governmental regulations has the potential to reduce the profitability of operations. Environmental protection requirements did not have a material effect on the capital expenditures, earnings, or competitive position of the Company during the 2025 financial year and are not expected to have a material effect during the 2026 financial year.

***Employees***

As of December 31, 2025, Integra had three hundred and twenty-two (329) employees which includes employees located in Nevada, United States (298), Idaho, United States (18), British Columbia, Canada (10), Ontario, Canada (2), and Utah, United States (1).

***Foreign Operations***

The DeLamar Project is located in Idaho and the Florida Canyon Mine and the Nevada North Project are located in Nevada. Mineral operations, exploration and development activities in the United States may be affected in varying degrees by government regulations relating to the mining industry. Any changes in regulations or shifts in political conditions may adversely affect Integra's business. Operations may be affected in varying degrees by government regulations with respect to restrictions on permitting, production, price controls, income taxes, expropriation of property, environmental legislation and mine safety.

***Social and Environmental Policies***

Integra believes that responsible resource development is fundamental to creating long-term value for all stakeholders. Integra's core values of integrity, care, and innovation guide the Company in every aspect of its business. Integra is dedicated to achieving high standards of environmental stewardship, social responsibility, and economic performance.

The Board has established an Environment, Social, Governance Committee which is responsible for oversight with respect to environment, social, and governance matters to ensure the Company conducts operations at its Projects in an environmentally and socially responsible manner and in compliance with all applicable laws and regulations.

Integra publishes an annual Sustainability Report that highlights the Company's approach and performance on environment, social and governance initiatives. The Company's Sustainability Report published in 2025 outlined the Company's key sustainability performance highlights for 2024, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Maintained zero reportable spills across the Company's development projects and at operating sites since Integra ownership.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Sustained water management performance across the Company's operations, with no breaches in water discharge permits and strict adherence to environmental standards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Expanded the Company's Memorandum of Understanding with Trout Unlimited to include additional conservation efforts in proximity to Integra's operations in northern Nevada.

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Contributed over $90,000 to local communities through donations, sponsorships, and in-kind support, supporting over 22,500 people through community programs and strategic investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Connected with more than 12,000 individuals through meaningful outreach and stakeholder engagement efforts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Exemplary Health & Safety performance at Florida Canyon Mine in 2024, underlined by 9 team members receiving safety awards from the Nevada Mining Association.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Achieved zero lost-time injuries across all assets, with a year-over-year improvement in the total incident frequency rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 30% of corporate objectives are ESG-linked and 100% of these metrics were fulfilled.

Integra's annual Sustainability Reports are available on the Company's website at <u>www.integraresources.com</u>.

The Board has adopted a Code of Business Conduct and Ethics (the "**Code**") that is intended to document the principles of conduct and ethics to be followed by directors, executives, employees and consultants of the Company. Its purpose is to (i) promote honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships; (ii) promote avoidance of conflicts of interest, including disclosure to an appropriate person of any material transaction or relationship that reasonably could be expected to give rise to such a conflict; (iii) promote full, fair, accurate, timely and understandable disclosure in reports and documents that Integra files with, or submits to, the securities regulators and in other public communications made by the Company; (iv) promote compliance with applicable governmental laws, rules and regulations; (v) promote the prompt internal reporting to an appropriate person of violations of the Code; (vi) promote accountability for adherence to the Code; (vii) provide guidance to employees, officers and directors to help them recognize and deal with ethical issues; (viii) provide mechanisms to report unethical conduct; and (ix) help foster culture of honesty and accountability.

The Board also adopted a Safety, Environmental and Social Responsibility Policy to be followed by employees, consultants, officers and directors of Integra. Its purpose is to outline how Integra, together with its directors, officers, employees, consultants and contractors, will conduct its business in a safe and environmentally friendly manner and to the highest standards of corporate social responsibility.

The Company has entered into a relationship agreement with the Shoshone-Paiute Tribes of the Duck Valley Indian Reservation (the "**Shoshone-Paiute Tribes**") (the "**Relationship Agreement**") whose aboriginal territories cover much of the tri-state area of Idaho, Nevada, and Oregon. The Relationship Agreement provides the Company and the Shoshone-Paiute Tribes a framework to guide a mutually beneficial long-term relationship over the life of mine at DeLamar. The Relationship Agreement lays the foundation for a strong partnership by aligning interests across several key measures, including economic opportunities, environmental protection, cultural recognition, and social performance.

***Principal Markets and Distribution***

The Company currently sells its refined gold to metal traders located in the United States and Canada. The Company is not economically dependent on a limited number of customers for the sale of its gold as its products can be sold through numerous world-wide commodity markets, traders, and financial institutions.

***Risk Factors***

The Company is subject to a number of risks and uncertainties due to the nature of its business. Readers are advised to study and consider risk factors stressed below. While the Company considers the risks set out below to be the most significant to potential investors, they are not the only ones facing the Company. Additional risks and uncertainties not currently known to the Company, or that the Company currently deems immaterial, may also materially adversely affect the Company's business, financial condition,

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

results of operations, cash flows or prospects. If any of these risks materialize into actual events or circumstances, the Company's business, financial condition, results of operations , cash flows or prospects, are likely to be materially and adversely affected. In such circumstances, the price of the Common Shares could decline and investors may lose all or part of their investment. Accordingly, potential investors should carefully consider the risks set out below and elsewhere in the Company's public disclosure record before purchasing Common Shares.

*Limitations on the mineral resource and reserve estimates*

The Company's mineral resources and mineral reserves are estimates only and are based on estimates of mineral content and quantity derived from limited information acquired through drilling and other sampling methods and require judgmental interpretations of geology, structure, grade distributions and trends and other factors. The Company's mineral resource and mineral reserve estimates may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing and other factors. There are numerous uncertainties inherent in estimating mineral resources and mineral reserves, including many factors beyond the Company's control. Estimation is a subjective process, and the accuracy of the Company's mineral resource and mineral reserve estimate is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation of that data and the level of congruence with the actual size and characteristics of the Company's deposits. No assurance can be given that the estimates are accurate or that the indicated level of metal will be produced. Actual mineralization or geological formations may be different from those predicted. Further, it may take many years before production is possible, and during that time the economic feasibility of exploiting a discovery may change. These estimates may, therefore, require adjustments or downward revisions based upon further exploration or development work, drilling or actual production experience.

Fluctuations in gold and silver prices, results of drilling, metallurgical testing and production, the evaluation of mine plans after the date of any estimate, permitting requirements or unforeseen technical or operational difficulties may require revision of the Company's mineral resource and mineral reserve estimates. Prolonged declines in the market price of gold or silver may render mineral reserves containing relatively lower grades of mineralization uneconomical to recover and could materially reduce the Company's mineral reserves. Mineral resource estimates are based on drill hole information, which is not necessarily indicative of conditions between and around the drill holes. Accordingly, such mineral resource estimates may require revision as more geologic and drilling information becomes available and as actual production experience is gained. Mineral resources and mineral reserves should not be interpreted as assurances of LOM or of the profitability of future operations. There is a degree of uncertainty in estimating mineral resources and mineral reserves and of the grades and tonnages that are forecast to be mined and, as a result, the grade and volume of gold or silver that the Company mines, processes and recovers may not be the same as currently anticipated. Any material reductions in estimates of mineral resources and mineral reserves, or of the Company's ability to economically extract these mineral reserves, could have a material adverse effect on the Projects and the Company's business, financial condition, results of operations, cash flows or prospects.

Mineral resources are not mineral reserves and have a greater degree of uncertainty as to their existence and feasibility. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is no assurance that mineral resources will be upgraded to proven or probable mineral reserves. Inferred mineral resources have a substantial degree of uncertainty as to their existence, and economic and legal feasibility. Accordingly, there is no assurance that inferred mineral resources reported herein will ever be upgraded to a higher category. Investors are cautioned not to assume that part or all of an inferred mineral resource exists or is economically or legally mineable.

*Dependence on the Florida Canyon Mine*

The Florida Canyon Mine accounts for all of the Company's current production and is expected to continue to account for all of its production in the near term. Any adverse condition affecting mining, processing conditions, or ongoing work at the Florida Canyon Mine could have a material adverse effect

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

on the Company's financial performance and results of operations. Even though the Company has established mining operations and estimates of future production, various factors, including costs, actual mineralization, consistency and reliability of ore grades, processing rates, and commodity prices can affect cash flow and profitability, and there can be no assurance that current or future estimates of these factors will reflect actual results and performance. The cost and availability of suitable machinery, supplies, mining equipment, and skilled labour, the existence of competent operational management and prudent financial administration, as well as the availability and reliability of appropriately skilled and experienced consultants, can also affect successful project operations. The activities of the Company at the Florida Canyon Mine may also be subject to prolonged disruption from a variety of risks normally encountered in production of precious metals as further described below. The failure of the Company to achieve its production estimates could have a material and adverse effect on its business, financial condition, results of operations, cash flows and prospects.

*Infrastructure*

Mining, processing, development, and exploration activities depend, to one degree or another, on adequate infrastructure. Reliable roads, bridges, power sources and water supply are important determinants, which affect capital and operating costs. Unusual or infrequent weather phenomena, sabotage, government or other interference in the maintenance or provision of such infrastructure could adversely affect the Company's business, financial condition, results of operations, cash flows and prospects.

*Operational risks*

Mining operations generally involve a high degree of risk. The Company's operations are subject to all the hazards and risks normally encountered in the exploration, development and production of metals including unusual and unexpected geologic formations, seismic activity, rock bursts, cave-ins, flooding, insufficient water, pit wall failure and other conditions involved in the drilling, blasting and removal of material, any of which could result in damage to, or destruction of, mines and other production facilities, damage to life or property, environmental damage and possible legal liability. Although adequate precautions to minimize risk will be taken, operations are subject to hazards such as fire, equipment failure or failure of retaining mechanisms, conditions which may result in environmental pollution and consequent liability. The Company's operating expenses and capital expenditures may increase in subsequent years as consultants, personnel and equipment associated with advancing exploration, development and commercial production of its properties are added. The effect of these factors cannot be accurately predicted, but the combination of these factors may result in the Company not receiving an adequate return on invested capital. Further, the Company may be subject to liability or sustain losses in relation to certain risks and hazards against which it cannot insure or for which it may elect not to insure. The occurrence of operational risks and/or a shortfall or lack of insurance coverage could have a material adverse impact on the Company's business, financial condition, results of operations, cash flows and prospects.

*The Company may not achieve its production estimates*

The Company has and anticipates preparing estimates of future gold production for its operating mine. The Company cannot give any assurance that it will achieve its production estimates. The failure of the Company to achieve its production estimates could have a material and adverse effect on any or all of its business, financial condition, results of operations, cash flows and prospects. These production estimates are dependent on, among other things, the accuracy of mineral reserve estimates, the accuracy of assumptions regarding ore grades and recovery rates, ground conditions, physical characteristics of ores, such as hardness and the presence or absence of particular metallurgical characteristics and the accuracy of estimated rates and costs of mining and processing.

The Company's actual production may vary from its estimates for a variety of reasons, including: interruptions of the Company's supply chain; actual ore mined varying from estimates of grade, tonnage, dilution and metallurgical and other characteristics; short-term operating factors such as the need for

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

sequential development of ore bodies and the processing of new or different ore grades from those planned; mine and related infrastructure failures, slope failures or equipment failures; industrial accidents; natural phenomena such as inclement weather conditions, floods, droughts, rock slides and earthquakes; encountering unusual or unexpected geological conditions; changes in power costs and potential power shortages; shortages of principal supplies needed for operation, including explosives, fuels, chemical reagents, water, equipment parts and lubricants; labour shortages; civil disobedience and protests; and restrictions or regulations imposed by government agencies or other changes in the regulatory environments. Such occurrences could result in damage to mineral properties, interruptions in production, injury or death to persons, damage to property of the Company or others, monetary losses, and legal liabilities. These factors may cause a mineral deposit that has been mined profitably in the past to become unprofitable, forcing the Company to cease production. Depending on the price of gold or other minerals, the Company may determine that it is impractical to continue commercial production.

*The Company's cost estimates may not prove accurate*

Capital and operating cost estimates discussed herein may not prove accurate. Capital and operating cost estimates are based on the interpretation of geological data, feasibility studies, anticipated climatic conditions, anticipated production royalties, duties, taxes, gold and metal prices, market conditions for required products and services, and other factors and assumptions including foreign exchange currency rates. It is important to note that the Company's cost estimates are impacted by the price of gold sold by the Company as a higher gold price increases royalty and tax obligations. Any of the following events could affect the ultimate accuracy of such estimate: unanticipated changes in grade and tonnage of ore to be mined and processed; incorrect data on which engineering assumptions are made; delay in construction schedules, unanticipated transportation costs; the accuracy of major equipment and construction cost estimates; labour negotiations; changes in government regulation (including regulations regarding prices, cost of consumables, royalties, duties, taxes, permitting, and restrictions on production quotas on exportation of minerals); and title claims. Changes in the Company's anticipated production costs could have a major impact on any future profitability. Changes in costs of the Company's anticipated mining and processing operations could occur as a result of unforeseen events, including international and local economic and political events, a change in commodity prices, increased costs (including oil, steel, and diesel) and scarcity of labour, and could result in changes in profitability or mineral reserve and mineral resource estimates. Many of these factors may be beyond the Company's control. There is no assurance that actual costs will not exceed such estimates. Exceeding cost estimates could have an adverse impact on the Company's business, financial condition, results of operations, cash flows and prospects.

*Increases in production and development costs*

Changes in the Company's production and development costs could have a major impact on its profitability. Its main production and development expenses are contractor costs, materials including diesel fuel, personnel costs and energy. Changes in costs of the Company's mining and processing operations could occur as a result of unforeseen events, including international and local economic and political events, (including the continuance or escalating military tensions related to Iran, between Russia and Ukraine, and economic sanctions in relation thereto, or otherwise), increased costs and scarcity of labour, and could result in changes in profitability or mineral reserve estimates. Many of these factors may be beyond the Company's control. The Company also relies on third party suppliers for a number of raw materials. Any material increases in the cost of raw materials, or the inability by the Company to source third party suppliers for the supply of its raw materials (including as a result of the continuance or escalation of military tensions related to Iran, and between Russia and Ukraine and economic sanctions in relation thereto, or otherwise) could have a material adverse effect on the Company'sbusiness, financial condition, results of operations, cash flows and prospects.

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

*Resource exploration and development is a speculative business and involves a high degree of risk, which may result in the Company not receiving adequate return on invested capital*

Resource exploration and development is a speculative business and involves a high degree of risk. There is no certainty that the expenditures to be made by Integra in the exploration of the Company's mineral properties or otherwise will result in discoveries of commercial quantities of minerals. The marketability of natural resources which may be acquired or discovered by Integra will be affected by numerous factors beyond the control of Integra. These factors include market fluctuations, the proximity and capacity of natural resource markets and processing equipment, government regulations, including regulations relating to prices, taxes, royalties, land tenure, land use, importing and exporting of minerals and environmental protection. The exact effect of these factors cannot be accurately predicted, but the combination of these factors may result in Integra not receiving an adequate return on invested capital.

*Financing risks*

Integra may require additional funding to conduct future exploration and development programs on the Company's mineral properties and to conduct other exploration and development programs. If Integra's current exploration and development programs are successful, additional funds will be required for the development of an economic mineral body and to place it into commercial production. Historically, capital requirements have been primarily funded through the sale of Common Shares or other securities of the Company. Factors that could affect the availability of financing include the progress and results of ongoing exploration at the Company's mineral properties, the state of debt and equity markets, and investor perceptions and expectations of the global minerals markets. There can be no assurance that such financing will be available in the amount required at any time or for any period or, if available, that it can be obtained on terms satisfactory to the Company. Based on the amount of funding raised, the Company's planned exploration or other work programs may be postponed, or otherwise revised, as necessary.

*Reclamation Costs*

The Company's operations are subject to closure and reclamation plans that establish obligations to reclaim properties after minerals have been mined from a site. These obligations represent significant future costs for the Company. It may be necessary to revise reclamation timing, concepts, and plans, which could increase costs.

Reclamation bonds or other forms of financial assurance are often required to secure reclamation activities. Governing authorities require companies to periodically recalculate the amount of a reclamation bond and may require bond amounts to be increased. It may be necessary to revise the planned reclamation expenditures and the operating plan for the Company's operations in order to fund an increase to a reclamation bond. Reclamation bonds may represent only a portion of the total amount of money that will be spent on reclamation over the life of a mine operation. The Company's accruals for the costs of reclamation of its operations are estimates only and may not represent the actual amounts that will be required to complete all reclamation activity. Obtaining regulatory approval of the Company's reclamation activity may also add additional time and costs to reclamation. The Company's mineral properties currently require reclamation work of approximately $1,500,000 per year for the foreseeable future. The Company currently has sufficient financial resources to cover such obligations, however, if actual costs are significantly higher than current estimates, then results of the Company's business, financial condition, results of operations, cash flows and prospects could be materially adversely affected.

*Volatility of commodity prices* 

The development and profitability of the Company's mineral properties is dependent on the future prices of gold and silver. The Company's profitability will be significantly affected by changes in the market prices of gold and silver. Precious metals prices are subject to volatile price movements, which can be material and occur over short periods of time and which are affected by numerous factors, all of which are beyond the Company's control. Such factors include, but are not limited to, interest and exchange rates,

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

inflation or deflation, fluctuations in the value of the U.S. dollar and foreign currencies, global and regional supply and demand, speculative trading, the costs of and levels of precious metals production, and political and economic conditions. Such external economic factors are in turn influenced by changes in international investment patterns, monetary systems, the strength of and confidence in the U.S. dollar (the currency in which the prices of precious metals are generally quoted) and political developments. The effect of these factors on the prices of precious metals, and therefore the economic profitability and viability of the Company's mineral properties, cannot be accurately determined. The prices of gold and silver have historically fluctuated widely, and future price declines could cause the operation and development of (and any future commercial production from) the Company's mineral properties to be impracticable or uneconomic. As such, the Company may determine that it is not economically feasible to operate or commence commercial production, which could have a material adverse impact on the Company's business, financial condition, results of operations, cash flows and prospects. In such a circumstance, the Company may also curtail or suspend some or all of its exploration activities.

*Reliance on management*

The success of the Company depends to a large extent upon its abilities to retain the services of its senior management and key personnel. The loss of the services of any of these persons could have a materially adverse effect on the Company's business and prospects. There is no assurance the Company can maintain the services of its directors, officers or other qualified personnel required to operate its business.

*Environmental risks and other regulatory requirements*

The activities of the Company are subject to environmental regulations promulgated by government agencies from time to time. Environmental legislation generally provides for restrictions and prohibitions on spills, releases or emissions of various substances produced in association with certain mining industry operations, such as seepage from tailings disposal areas, which would result in environmental pollution. A breach of such legislation may result in imposition of fines and penalties. In addition, certain types of operations, including any proposed development of the Company's mineral properties, will require the submission and approval of environmental impact assessments. Environmental legislation is evolving to stricter standards, and enforcement, fines and penalties for non-compliance are more stringent. Environmental assessments of proposed projects carry a heightened degree of responsibility for companies and directors, officers and employees. The cost of compliance with changes in governmental regulations has potential to reduce the profitability of operations.

There is the potential for substances or conditions existing on the DeLamar Project that would impose obligations on the Company under environment law arising from prior mining activities. The mine on the property has been in closure for approximately 20 years with only modest ongoing reclamation obligations remaining and Integra has no indication of any latent environmental damage. Nevertheless, the DeLamar Project was the source of historical mining activity going back over 100 years and any undiscovered issue existing on the property from those activities would likely be the responsibility of Integra.

Failure to comply with applicable environmental laws, regulations and permitting requirements may result in enforcement actions including orders issued by regulatory or judicial authorities causing operations to cease or be curtailed, and may include corrective measures requiring capital expenditures, installation of additional equipment or remedial actions. Parties engaged in mining operations may be required to compensate those suffering loss or damage by reason of such activities and may have civil or criminal fines or penalties imposed upon them for violation of applicable laws or regulations.

The Company does not maintain insurance against all environmental risks. As a result, any claims against the Company may result in liabilities that could have a significant adverse effect on the Company's business, financial condition, results of operations, cash flows and prospects.

Amendments to current environmental laws, regulations and permits governing operations and activities of mining companies and mine reclamation and remediation activities, or more stringent implementation thereof, could have a material adverse impact on Integra and cause increases in capital expenditures or

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

production costs or reduction in levels of production at producing properties or require abandonment or delays in the development of new mining properties.

The Company cannot give any assurances that breaches of environmental laws (whether inadvertent or not) or environmental pollution will not materially or adversely affect its financial condition. There is no assurance that future changes to environmental regulation, if any, will not adversely affect the Company.

*Water Rights*

Integra's current and future mining operations will require significant quantities of water for mining, ore processing and related support facilities. Continuous production and project development is dependent on the Company's ability to acquire and maintain water rights and claims and to defeat claims adverse to current water uses in legal proceedings. The Company cannot predict the potential outcome of future legal proceedings relating to enforcement of water rights, claims and uses, or potential pressure from other users of water, government agencies and officials, and/or non-governmental organizations to limit the amount of water made available to or used for mining activities, regardless of legally valid water rights. Water shortages may also result from weather or environmental and climate impacts outside of the Company's control. Shortages in water supply or the inability to acquire and maintain water rights could result in development delays, as well as production and processing interruptions. In addition, the scarcity of water in certain regions could result in increased costs to obtain sufficient quantities of water for the Company to develop projects or conduct operations.

The loss of some or all water rights, ongoing litigation to enforce existing or new water rights, ongoing shortages of water to which the Company has rights and/or significantly higher costs to obtain sufficient quantities of water could result in the Company's inability to develop its projects, maintain production at current or expected levels, require the Company to curtail or shut down mining operations, and could prevent the Company from pursuing expansion or development opportunities, which could adversely affect the Company's business, financial condition, results of operations, cash flows and prospects. Laws and regulations may be introduced in some jurisdictions in which the Company operates which could also limit access to sufficient water resources, adversely affecting existing operations or expansion or development plans.

*Permitting*

Integra's mineral property interests are subject to receiving and maintaining permits from appropriate governmental authorities. In particular, Integra will need to receive numerous permits from appropriate governmental authorities including those relating to mining operations, occupational health, toxic substances, waste disposal, safety, environmental protection, land use and others. There is no assurance that the Company will be able to obtain all necessary renewals of existing permits, additional permits for any possible future developments or changes to operations or additional permits associated with new legislation. Further, failure to comply with applicable laws, regulations and permitting requirements may result in enforcement actions thereunder, including orders issued by regulatory or judicial authorities causing activities to cease or be curtailed, and may include corrective measures requiring capital expenditures or remedial actions.

*Title*

The acquisition of title to resource properties in the part of western United States where the Company's mineral properties are located is a very detailed and time-consuming process. No assurances can be given that there are no title defects affecting the properties in which Integra has an interest. The Company's mineral properties include areas with prospective exploration potential that lie on unpatented mining claims with a lengthy history of prior ownership and operations. The Company's mineral properties may be subject to prior unregistered liens, agreements, transfers or claims, and title may be affected by, among other things, undetected defects. Other parties may dispute title to a property or the property may be subject to prior unregistered agreements and transfers or land claims by indigenous people. Title may also be affected by undetected encumbrances or defects or governmental actions. Integra has not

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

conducted surveys of the Company's mineral properties and the precise area and location of claims and other mineral rights may be challenged. Integra may not be able to register rights and interests it acquires against title to applicable mineral properties. An inability to register such rights and interests may limit or severely restrict Integra's ability to enforce such acquired rights and interests against third parties or may render certain agreements entered into by Integra invalid, unenforceable, uneconomic, unsatisfied or ambiguous, the effect of which may cause financial results yielded to differ materially from those anticipated. Although Integra believes it has taken reasonable measures to ensure proper title to the Company's mineral properties, there is no guarantee that such title will not be challenged or impaired.

The Company's mineral properties are also subject to annual compliance with assessment work and/or fee requirements, property taxes, lease payments and other contractual payments and obligations. Any failure to make such payments or comply with such requirements or obligations could result in the loss of all or a portion of the Company's interest in their mineral properties.

*Surface Rights*

Access to Integra's mineral properties may be governed by surface use agreements or other forms of access rights or agreements such as easements and rights-of-way. There can be no assurance that the Company will be able to obtain or maintain such agreements or rights on acceptable terms or at all. Failure to meet or otherwise satisfy required contractual obligations and make payments with respect to such agreements and rights or to otherwise obtain such agreements or rights may result in loss of access to the mineral properties and could adversely affect the Company's business, financial condition, results of operations, cash flows and prospects.

*Community relationships* 

The Company's relationships with the community in which it operates are critical to ensure the future success of its existing operations and the construction, development and operation of the Company's mineral properties. While the Company is committed to operating in a socially responsible manner, there is no guarantee that its efforts will be successful, in which case interventions by third parties could have a material adverse effect on the Company's business, financial condition, results of operations, cash flows or prospects.

*The use of certain derivative products may increase credit risk, market liquidity risk, and unrealized market-to-market risk for Integra.*

From time-to-time Integra may use certain derivative products as hedging instruments and to manage the risks associated with changes in gold prices, silver prices, interest rates, foreign currency exchange rates and energy prices. The use of derivative instruments involves certain inherent risks including, among other things: (i) credit risk – the risk of default on amounts owing to Integra by the counterparties with which Integra has entered into transactions; (ii) market liquidity risk – risk that Integra has entered into a derivative position that cannot be closed out quickly, by either liquidating such derivative instrument or by establishing an offsetting position; and (iii) unrealized mark-to-market risk – the risk that, in respect of certain derivative products, an adverse change in market prices for commodities, currencies or interest rates will result in Integra incurring an unrealized mark-to-market loss in respect of such derivative products. There is no assurance that any such hedging transactions designed to reduce the risk associated with fluctuations will be successful. Hedging may not adequately protect against volatility in the hedge transaction. Furthermore, although hedging may protect Integra from downside risk, it may also prevent Integra from benefiting in the upside opportunity.

*Foreign country risk*

The Company's principal mineral properties are located in the United States. The Company is subject to certain risks as a result of conducting foreign operations, including, but not limited to: currency fluctuations; possible political or economic instability that may result in the impairment or loss of mineral titles or other mineral rights; opposition from environmental or other non-governmental organizations;

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

government regulations relating to the mining industry; renegotiation, cancellation, or forced modification of existing contracts; expropriation or nationalization of property; changes in laws or policies or increasing legal and regulatory requirements including those relating to taxation, royalties, imports, exports, duties, currency, or other claims by government entities, including retroactive claims and/or changes in the administration of laws, policies, and practices; uncertain political and economic environments; war, terrorism, or activities, sabotage, and civil disturbances; delays in obtaining or the inability to obtain or maintain necessary governmental or similar permits or to operate in accordance with such permits or regulatory requirements; currency fluctuations; import and export regulations, including restrictions on the export of gold or other minerals; limitations on the repatriation of earnings; and increased financing costs. Any changes in regulations or shifts in political attitudes are beyond the control of the Company and may adversely affect its business.

The introduction of new tax laws, regulations, or rules, or changes to, or differing interpretation of, or application of, existing tax laws, regulations, or rules in any of the countries in which the Company currently conducts business or in the future may conduct business, could result in an increase in taxes, or other governmental charges, duties, or impositions. No assurance can be given that new tax laws, rules, or regulations will not be enacted or that existing tax laws will not be changed, interpreted, or applied in a manner that could result in the Company being subject to additional taxation or that could otherwise have a material adverse effect on the Company.

Although the Company believes that its exploration, development and production activities are currently carried out in accordance with all applicable rules and regulations, new rules and regulations may be enacted, and existing rules and regulations may be applied in a manner that could limit or curtail exploration, development or production of the Company's properties. Amendments to current laws and regulations governing the operations and activities of the Company or more stringent implementation thereof could have a material adverse effect on the Company's business, financial condition, results of operations, cash flow and prospects. The Company does not carry political risk insurance.

*Compliance with anti-corruption laws*

The Company is subject to various anti-corruption laws and regulations including, but not limited to, the Canadian *Corruption of Foreign Public Officials Act*, the U.S. *Foreign Corrupt Practices Act*, and similar laws in any country in which the Company conducts business. In general, these laws prohibit a company and its officers, directors, employees and agents from bribing or making other prohibited payments to foreign government officials or other persons to obtain or retain business or gain some other business advantage. In recent years, there has been a general increase in both the frequency of enforcement and the severity of penalties under such laws, resulting in greater scrutiny and punishment to companies convicted of violating anti-corruption and anti-bribery laws.

Failure to comply with the applicable legislation and other similar foreign laws could expose the Company and/or its senior management to civil and/or criminal penalties, other sanctions and remedial measures, legal expenses, and reputational damage, all of which could materially and adversely affect the Company's business, financial condition, results of operations, cash flows and prospects. Likewise, any investigation of any potential violations of the applicable anti-corruption legislation by Canadian, American, or foreign authorities could also have an adverse impact on the Company's business, financial condition, and results of operations.

As a consequence of these legal and regulatory requirements, the Company has instituted policies with regard to anti-corruption and anti-bribery, as well as business ethics, which have been designed to ensure that the Company and its employees comply with applicable anti-corruption laws and regulations. However, there can be no assurance or guarantee that such efforts have been and will be completely effective in ensuring the Company's compliance, and the compliance of its officers, directors, employees, consultants, contractors, and other agents, with all applicable anti-corruption laws and regulations.

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

*Influence of third-party stakeholders*

The mineral properties in which Integra holds an interest, or the production and exploration equipment and road or other means of access which Integra intends to utilize in carrying out its work programs or general business mandates, may be subject to interests or claims by third party individuals, groups or companies. In the event that such third parties assert any claims, Integra's work programs may be delayed even if such claims are not meritorious. Such claims may result in significant financial loss and loss of opportunity for Integra.

*Insurance*

Exploration, development and production operations on mineral properties involve numerous risks, including, but not limited to, unexpected or unusual geological operating conditions, mine infrastructure failures, ground or slope failures, fires, environmental occurrences and natural phenomena such as prolonged periods of inclement weather conditions, floods and earthquakes. It is not always possible to obtain insurance against all such risks and Integra may decide not to insure against certain risks because of high premiums or other reasons. Such occurrences could result in damage to, or destruction of, mineral properties or production facilities, personal injury or death, environmental damage to Integra's properties or the properties of others, delays in exploration, development or mining operations, monetary losses and possible legal liability. Integra expects to maintain insurance within ranges of coverage which it believes to be consistent with industry practice for companies of a similar stage of development. Integra expects to carry liability insurance with respect to its operations, but is not expected to cover any form of political risk insurance or certain forms of environmental liability insurance, since insurance against political risks and environmental risks (including liability for pollution) or other hazards resulting from exploration, development or production activities is prohibitively expensive. Should such liabilities arise, they could reduce or eliminate future profitability and result in increasing costs and a decline in the value of the securities of Integra. If Integra is unable to fully fund the cost of remedying an environmental problem, it might be required to suspend operations or enter into costly interim compliance measures pending completion of a permanent remedy. The lack of, or insufficiency of, insurance coverage could adversely affect Integra's business, financial condition, results of operations, cash flows and prospects.

*Climate change*

A number of governments have introduced or are moving to introduce climate change legislation and treaties at the international, national, state/provincial, and local levels. Regulation relating to emission levels (such as carbon taxes), energy efficiency, and reporting of climate-change related risks is becoming more stringent. If the current regulatory trend continues, this may result in increased costs at some or all of the Company's operations. In addition, the physical risks of climate change may also have an adverse effect on the Company's operations. These risks include, among other things, extreme weather events, resource shortages, changes in rainfall and in storm patterns and intensities, water shortages, and extreme temperatures. Climate-related events such as mudslides, floods, droughts and fires can also have significant impacts, directly and indirectly, on the Company's operations and could result in damage to facilities, disruptions in accessing its sites with labour and essential materials or in shipping products from its mines, risks to the safety and security of its personnel and to communities, shortages of required supplies such as fuel and chemicals, inability to source enough water to supply its development and operations, and the temporary or permanent cessation of one or more of the Company's operations.

There can be no assurance that efforts to mitigate the risks of climate changes will be effective and that the physical risks of climate change will not have an adverse effect on the Company's business, financial condition, results of operations, cash flows and prospects.

*Litigation risk*

All industries, including the mining industry, are subject to legal claims, with and without merit. Defense and settlement costs of legal claims can be substantial, even with respect to claims that have no merit. Due to the inherent uncertainty of the litigation and dispute resolution process, the litigation process could

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

take away from management time and efforts and the resolution of any particular legal proceeding to which the Company may become subject could have a material adverse effect on the Company's business, financial condition, results of operations, cash flows and prospects.

*Significant competition for attractive mineral properties*

Significant and increasing competition exists for the limited number of mineral acquisition opportunities available. Integra expects to selectively seek strategic acquisitions in the future, however, there can be no assurance that suitable acquisition opportunities will be identified. As a result of this competition, some of which is with large established mining companies with substantial capabilities and greater financial and technical resources than Integra, Integra may be unable to acquire additional attractive mineral properties on terms it considers acceptable. In addition, Integra's ability to consummate and to integrate effectively any future acquisitions on terms that are favourable to Integra may be limited by the number of attractive acquisition targets, internal demands on resources, competition from other mining companies and, to the extent necessary, Integra's ability to obtain financing on satisfactory terms, if at all.

*Acquisitions and integration*

From time to time, the Company examines opportunities to acquire additional mining assets and businesses. Any acquisition that the Company may choose to complete may be of a significant size, may change the scale of the Company's business and operations, and may expose the Company to new geographic, political, operating, financial, and geological risks. The Company's success in its acquisition activities depends on its ability to identify suitable acquisition candidates, negotiate acceptable terms for any such acquisition, and integrate the acquired operations successfully with those of the Company. Any acquisitions would be accompanied by risks. For example, there may be a significant change in commodity prices after the Company has committed to complete the transaction and established the purchase price or exchange ratio; a material property may prove to be below expectations; the Company may have difficulty integrating and assimilating the operations and personnel of any acquired companies, realizing anticipated synergies and maximizing the financial and strategic position of the combined enterprise, and maintaining uniform standards, policies and controls across the organization; the integration of the acquired business or assets may disrupt the Company's ongoing business and its relationships with employees, customers, suppliers, and contractors; and the acquired business or assets may have unknown liabilities which may be significant. In the event that the Company chooses to raise debt capital to finance any such acquisition, the Company's leverage will be increased. If the Company chooses to use equity as consideration for such acquisition, existing shareholders may experience dilution. Alternatively, the Company may choose to finance any such acquisition with its existing resources.

There can be no assurance that the Company would be successful in overcoming these risks or any other problems encountered in connection with such acquisitions.

*Non-governmental organization intervention*

In recent years, non-governmental organizations, as well as certain communities of both indigenous people and others, have been vocal and negative with respect to mining activities. The Company's relationship with the communities in which it operates is critical to ensure the future success of its existing operations and the construction and development of its projects. Community groups or non-governmental organizations may create or inflame public unrest and anti-mining sentiment among the inhabitants in areas of mineral development. These communities and organizations have taken such actions as protests, road closures, work stoppages, and initiating lawsuits for damages. Such organizations can be involved, with financial assistance from various groups, in mobilizing sufficient local antimining sentiment to prevent the issuance of required permits for the development of mineral projects of other companies. While the Company is committed to operating in a socially responsible manner and obtain and increase its social acceptance to operate, there is no guarantee that the Company's efforts in this respect will mitigate this potential risk. Any actions by communities and non-governmental organizations may have a

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

material adverse effect on the Company's business, financial condition, results of operations, cash flows and prospects.

*Securities of Integra are subject to price volatility*

Capital and securities markets have a high level of price and volume volatility, and the market price of securities of many companies have experienced wide fluctuations in price which have not necessarily been related to the operating performance, underlying asset values or prospects of such companies. Factors unrelated to the financial performance or prospects of Integra including macroeconomic developments in North America and globally, and market perceptions of the attractiveness of particular industries or asset classes, can impact the price of Integra's Common Shares. There can be no assurance that continued fluctuations in mineral or commodity prices will not occur. As a result of any of these factors, the market price of the Common Shares of Integra at any given time may not accurately reflect the long-term value of Integra.

In the past, following periods of volatility in the market price of a company's securities, shareholders have instituted class action securities litigation against them. Such litigation, if instituted, could result in substantial cost and diversion of management attention and resources, which could significantly harm profitability and the reputation of Integra.

*Tax matters*

The Company is subject to income taxes and other taxes in a variety of jurisdictions and the Company's tax structure is subject to review by both Canadian and foreign taxation authorities. The Company's taxes are affected by a number of factors, some of which are outside of its control, including the application and interpretation of the relevant tax laws and treaties. If the Company's filing position were to be challenged for whatever reason, this could have a material adverse effect on the Company's business, financial condition, results of operations, cash flows and prospects.

*The Company's growth, profitability and ability to obtain financing may be impacted by global financial conditions*

In recent years, global financial markets have been characterized by extreme volatility impacting many industries, including the mining industry. Global financial conditions remain subject to sudden and rapid destabilizations in response to future economic shocks, as government authorities may have limited resources to respond to future crises. A sudden or prolonged slowdown in the financial markets or other economic conditions, including but not limited to, consumer spending, employment rates, business conditions, inflation, fuel and energy costs, consumer debt levels, lack of available credit, the state of the financial markets, interest rates and tax rates, may adversely affect the Company's growth and profitability. Future economic shocks may be precipitated by a number of causes, including, but not limited to, material changes in the price of oil and other commodities, the volatility of metal prices, governmental policies, geopolitical instability, war, terrorism, the devaluation and volatility of global stock markets, and natural disasters. Any sudden or rapid destabilization of global economic conditions could impact the Company's ability to obtain equity or debt financing in the future on terms favorable to the Company or at all. In such an event, the Company's operations and financial condition could be materially adversely affected.

In particular, the imposition of protectionist or retaliatory trade tariffs by countries may impact the Company's ability to import materials needed to conduct its operations, construct its projects, or to export its products at prices that are economically feasible. On February 1, 2025, the President of the United States signed an executive order which introduced tariffs on imports from countries including Canada and Mexico. In response, the Canadian and Mexican governments announced retaliatory tariffs on imports from the United States. Subsequently, certain of these tariffs have been delayed, lifted, adjusted, or reimposed, creating substantial uncertainty as to whether tariffs will be applied and, if so, the rates that will apply.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

The Company believes its revenues will be largely unaffected by the tariffs as it has flexibility where its gold production is refined. Labour, contractors, and energy are locally sourced and are not expected to be directly affected by the tariffs, if implemented. The Company continues to monitor developments and will take steps to limit the impact of such tariffs as appropriate.

*Outside contractor risks*

Certain aspects of the Company's mining operations, such as drilling, blasting, development, transportation, and other day-to-day operations, are conducted by outside contractors. As a result, the Company is subject to a number of risks, including: reduced control over the aspects of the tasks that are the responsibility of the contractors; failure of the contractors to perform under their agreements with the Company; inability to replace the contractors if their contracts are terminated; interruption of services in the event that the contractors cease operations due to insolvency or other unforeseen events; failure of the contractors to comply with applicable legal and regulatory requirements; and failure of the contractors to properly manage their workforce resulting in labour unrest or other employment issues.

*A cyber security incident could adversely affect the Company's ability to operate its business*

Information systems and other technologies, including those related to the Company's financial and operational management, and its technical and environmental data, are an integral part of the Company's business activities. Network and information systems related events, such as computer hacking, cyber-attacks, computer viruses, worms or other destructive or disruptive software, process breakdowns, denial of service attacks, or other malicious activities or any combination of the foregoing or power outages, natural disasters, terrorist attacks, or other similar events could result in damages to the Company's property, equipment and data. These events also could result in significant expenditures to repair or replace damaged property or information systems and/or to protect them from similar events in the future. Furthermore, any security breaches such as misappropriation, misuse, leakage, falsification, accidental release or loss of information contained in the Company's information technology systems including personnel and other data that could damage its reputation and require the Company to expend significant capital and other resources to remedy any such security breach. Insurance held by the Company may mitigate losses however in any such events or security breaches may not be sufficient to cover any consequent losses or otherwise adequately compensate the Company for any disruptions to its business that may result and the occurrence of any such events or security breaches could have a material adverse effect on the business of the Company. There can be no assurance that these events and/or security breaches will not occur in the future or not have an adverse effect of the business of the Company.

*Integra's operations are subject to human error*

Despite efforts to attract and retain qualified personnel, as well as the retention of qualified consultants, to manage Integra's interests, and even when those efforts are successful, people are fallible and human error could result in significant uninsured losses to Integra. These could include loss or forfeiture of mineral claims or other assets for non-payment of fees or taxes, significant tax liabilities in connection with any tax planning effort Integra might undertake and legal claims for errors or mistakes by Integra personnel.

*Conflicts of interest*

Certain directors and officers of Integra are, and may continue to be, involved in the mining and mineral exploration industry through their direct and indirect participation in corporations, partnerships or joint ventures which are potential competitors of Integra. Situations may arise in connection with potential acquisitions in investments where the other interests of these directors and officers may conflict with the interests of Integra. Directors and officers of Integra with conflicts of interest will be subject to the procedures set out in applicable corporate and securities legislation, regulation, rules and policies.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

*Disclosure controls and procedures* 

Disclosure controls and procedures are designed to provide reasonable assurance that material information is gathered and reported to management, as appropriate to allow for timely decisions about public disclosure. The Company has disclosure controls and procedures in place to provide reasonable assurance that any information required to be disclosed by the Company under securities legislation is recorded, processed, summarized, and reported within the applicable time periods and that required information is accumulated and communicated to the Company's management, so that decisions can be made about the timely disclosure of that information.

Management has evaluated the effectiveness of the design and operation of the Company's disclosure controls as of December 31, 2025 and concluded that the disclosure controls and procedures were effective.

*Internal control over financial reporting*

Management is responsible for establishing and maintaining adequate internal control over financial reporting as such term is defined in the rules of the National Instrument 52-109 – *Certification of Disclosure in Issuers' Annual and Interim Filings* ("**NI 52-109**") and Rule 13a-15(f) of the Exchange Act. The Company's internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of the Company's financial reporting for external purposes in accordance with IFRS.

Based on the criteria set forth in Internal Control – Integrated Framework (2013) by the Committee of Sponsoring Organizations of the Treadway Commission, the Company's internal control over financial reporting include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Maintaining records, that in reasonable detail, accurately and fairly reflect our transactions and dispositions of the assets of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Providing reasonable assurance that transactions are recorded as necessary for preparation of the consolidated financial statements in accordance with IFRS;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Providing reasonable assurance that receipts and expenditures are made in accordance with authorizations of management and the directors of the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Providing reasonable assurance that unauthorized acquisition, use or disposition of Company assets that could have a material effect on the Company's consolidated financial statements would be prevented or detected on a timely basis.

Management has evaluated the effectiveness of the internal control over financial reporting as of December 31, 2025 and concluded that those controls were effective.

An independent consulting firm was engaged to assist management in assessing the effectiveness of internal control over financial reporting. The independent consultant reported his opinion to management and to the Audit Committee and concluded that the Company's internal controls are effective.

BDO Canada LLP, an independent registered public accounting firm, has audited the effectiveness of internal control over financial reporting, and has expressed their opinion in their report included with the Company's annual consolidated financial statements.

Though the Company believes its internal safeguards over financial reporting are effective, the Company cannot provide absolute assurance.

*Limitation of controls and procedures*

Management believes that any disclosure controls and procedures or internal control over financial reporting, no matter how well designed and operated, have their inherited limitations. Due to those limitations (resulting from unrealistic or unsuitable objectives, human judgment in decision making, human errors, management overriding internal control, circumventing controls by the individual acts of some

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

persons, by collusion of two or more people, external events beyond the entity's control), internal control can only provide reasonable assurance that the objectives of the control system are met.

The design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Due to the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected.

There were no changes in internal control of the Company during the year-ended December 31, 2025 that have materially affected, or are likely to materially affect, the Company's internal control over financial reporting.

*Compliance with ESTMA*

The *Extractive Sector Transparency Measures Act (Canada)* (the *"***ESTMA**"), which came into force on June 1, 2015, requires public disclosure of payments to governments by mining and oil and gas companies engaged in the commercial development of oil, gas and minerals who are either publicly listed in Canada or with business or assets in Canada. Mandatory annual reporting is required for extractive companies with respect to payments made to foreign and domestic governments at all levels, including entities established by two or more governments. The ESTMA requires reporting on the payment of any taxes, royalties, fees, production entitlements, bonuses, dividends, infrastructure improvement payments and any other prescribed payment over C$100,000. Failure to report, false reporting or structuring payments to avoid reporting may result in fines of up to C$250,000 (which may be concurrent). If Integra becomes subject to an enforcement action or is in violation of the ESTMA, this may result in significant penalties, fines and/or sanctions, which may have a material adverse effect on Integra's reputation.

*Risks relating to the Company company's dual-listing on the TSX-V and NYSE American*

The Company is subject to the rules and regulations of the NYSE American and the TSX-V. Further, in order to maintain compliance with all continued listing requirements, the Company pays legal, accounting and compliance fees to advisors and regulatory organizations. Any changes to rules, regulations, policies or guidelines issued by regulatory authorities may impact the risk of non-compliance. There is no assurance that the Company will be able to comply with the applicable NYSE American or TSX-V continued listing standards or maintain its listing status on either the TSX-V or NYSE American. Any failure to comply with applicable continued listing requirements and regulations may result in the delisting of the Common Shares from the TSX-V and/or the NYSE American. Any voluntary or involuntary delisting may have material adverse effects on the Company's business and financial condition.

*Risks related to the enforcement of civil liabilities obtained under U.S. securities laws*

The Company is a corporation existing under the laws of Canada and its registered and head office is in Canada. Most of the Company's directors and officers are residents of Canada or otherwise reside outside of the United States, and a substantial portion of their assets, and a substantial portion of the Company's assets, are located outside the United States. As a result, it may be difficult to serve process on the Company or such other persons, to effect service of process within the United States on certain of the Company's directors and officers or enforce judgments obtained in the United States courts against the Company or certain of the Company's directors and officers based upon the civil liability provisions of United States federal securities laws or the securities laws of any state of the United States. Enforcement by investors of civil liabilities under the United States federal or state securities laws may be affected adversely by these facts.

There is some doubt as to whether a judgment of a United States court based solely upon the civil liability provisions of United States federal or state securities laws would be enforceable in Canada against the Company or its directors and officers. There is also doubt as to whether an original action could be brought in Canada against the Company or its directors and officers to enforce liabilities based solely upon United States federal or state securities laws.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

*Risks related to maintaining proper internal controls*

Section 404(a) of the Sarbanes-Oxley Act of 2002 (the "**Sarbanes-Oxley Act**") requires that the Company's management assess and report annually on the effectiveness of the Company's internal controls over financial reporting and identify any material weaknesses in the Company's internal controls over financial reporting. Section 404(b) of the Sarbanes-Oxley Act requires our independent registered public accounting firm to issue an annual report that addresses the effectiveness of our internal controls over financial reporting.

If either the Company is unable to conclude that it has effective internal controls over financial reporting or, at the appropriate time, the Company's independent auditors are unwilling or unable to provide an unqualified report on the effectiveness of the Company's internal controls over financial reporting as required by Section 404(b) of the Sarbanes-Oxley Act, investors may lose confidence in the Company's operating results, the price of the Company's shares could decline and the Company may be subject to litigation or regulatory enforcement actions.

The Company's management, including the Chief Executive Officer and the Chief Financial Officer, are responsible for implementing measures to make sure all internal controls are in place and will comply with the requirements of Section 404(b) of the Sarbanes-Oxley Act when it becomes effective from the 2026 financial reporting period.

*Risks related the Company based on loss of our status as an emerging growth company and new compliance initiatives and corporate governance practices as a result*

As a U.S. public company, the Company incurs significant legal, accounting and other expenses, and the Company expects to incur additional costs as it no longer qualify as an "emerging growth company" as of December 31, 2025. The Sarbanes-Oxley Act, the Dodd-Frank Wall Street Reform and Consumer Protection Act, the listing requirements of NYSE American and other applicable securities rules and regulations impose various requirements on non-U.S. reporting public companies, including the establishment and maintenance of effective disclosure and financial controls and corporate governance practices. The Company's management and other personnel devote a substantial amount of time to these compliance initiatives. Moreover, these rules and regulations have increased the Company's legal and financial compliance costs and have made some activities more time consuming and costly. Moreover, these rules and regulations may make it more difficult and more expensive for the Company to obtain director and officer liability insurance.

These rules and regulations are often subject to varying interpretations, in many cases due to their lack of specificity, and, as a result, their application in practice may evolve over time as new guidance is provided by regulatory and governing bodies. This could result in continuing uncertainty regarding compliance matters and higher costs necessitated by ongoing revisions to disclosure and governance practices.

Pursuant to Section 404 of the Sarbanes-Oxley Act, the Company is required to furnish a report by the Company's senior management on the Company's internal control over financial reporting and are also required to include an attestation report on internal control over financial reporting issued by the Company's independent registered public accounting firm.

*Risks relating to the Company's status as a "Foreign Private Issuer" under U.S. Securities Laws*

The Company is a "foreign private issuer", under applicable U.S. federal securities laws, and is, therefore, not subject to the same requirements that are imposed upon U.S. domestic issuers by the SEC. Under the United States *Securities Exchange Act of 1934*, as amended (the "**Exchange Act**"), the Company is subject to reporting obligations that, in certain respects, are less detailed and less frequent than those of U.S. domestic reporting companies. As a result, the Company does not file the same reports that a U.S. domestic issuer would file with the SEC, although the Company is required to file with or furnish to the SEC the continuous disclosure documents that it is required to file in Canada under Canadian securities laws.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

The Company is required to file its annual report on Form 40-F with the SEC at the time it files its annual information form with the applicable Canadian securities regulatory authorities or file an annual report on Form 20-F within four months of the end of the fiscal year. In addition, the Company must furnish reports on Form 6-K to the SEC regarding certain information required to be publicly disclosed by the Company in Canada or filed with the TSX-V and which was made public by the TSX-V, or regarding information distributed or required to be distributed by the Company to its shareholders. Moreover, although the Company is required to comply with Canadian disclosure requirements, in some circumstances the Company is not required to file periodic reports and financial statements with the SEC as frequently or as promptly as United States companies that have securities registered under the U.S. Exchange Act. The Company is permitted to file financial statements in accordance with IFRS, which are different from accounting principles under United States generally accepted accounting principles ("**U.S. GAAP**"). We have adopted and presented our financial statements in accordance with IFRS which is an internationally recognized body of accounting standards that are used by many companies outside of the United States to prepare their financial statements, and the SEC permits foreign private issuers such as the Company to prepare and file their financial statements in accordance with IFRS rather than U.S. GAAP. IFRS are different from U.S. GAAP, and SEC rules do not require us to provide a reconciliation of IFRS to those of U.S. GAAP. Our financial information and reported earnings for historical or future periods could be significantly different if they were prepared in accordance with U.S. GAAP. As a result, you may not be able to meaningfully compare our financial statements under IFRS with those companies that prepare financial statements under U.S. GAAP. Accordingly, we suggest that readers of our financial statements familiarize themselves with the provisions of IFRS in order to better understand the differences between these two sets of standards.

In addition, the Company's officers, directors, and principal shareholders are exempt from the reporting and short-swing profit recovery provisions of Section 16 of the Exchange Act. Therefore, the Company's shareholders may not know on as timely a basis when the Company's officers, directors and principal shareholders purchase or sell Common Shares, as the reporting periods under the corresponding Canadian insider reporting requirements are longer.

As a foreign private issuer, the Company is exempt from the rules and regulations under the Exchange Act related to the furnishing and content of proxy statements. The Company is also exempt from Regulation FD, which prohibits issuers from making selective disclosures of material non-public information. While the Company complies with the corresponding requirements relating to proxy statements and disclosure of material non-public information under Canadian securities laws, these requirements differ from those under the Exchange Act and Regulation FD and shareholders should not expect to receive the same information at the same time as such information is provided by U.S. domestic companies. In addition, the Company may not be required under the Exchange Act to file annual and quarterly reports with the SEC as promptly as U.S. domestic companies whose securities are registered under the Exchange Act.

In addition, as a foreign private issuer, the Company has the option to follow certain Canadian corporate governance practices, except to the extent that such laws would be contrary to U.S. securities laws, and provided that the Company disclose the requirements it is not following and describe the Canadian practices it follows instead. The Company may in the future elect to follow home country practices in Canada with regard to certain corporate governance matters. As a result, the Company's shareholders may not have the same protections afforded to shareholders of U.S. domestic companies that are subject to all corporate governance requirements.

*The Company may lose its status as a "Foreign Private Issuer" under U.S. Securities Laws*

The Company may in the future lose its foreign private issuer status if a majority of its Common Shares are held in the U.S. and if the Company fails to meet the additional requirements necessary to avoid loss of its foreign private issuer status. The regulatory and compliance costs under U.S. federal securities laws as a U.S. domestic issuer may be significantly more than the costs incurred as a Canadian foreign private issuer eligible to use the multi-jurisdictional disclosure system ("**MJDS**"). If the Company is not a foreign

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

private issuer, it would not be eligible to use the MJDS or other foreign issuer forms and would be required to file periodic and current reports and registration statements on U.S. domestic issuer forms with the SEC, which are more detailed and extensive than the forms available to a foreign private issuer. In addition, the Company may lose the ability to rely upon exemptions from NYSE American corporate governance requirements that are available to foreign private issuers.

While the Company may qualify as a foreign private issuer, it may still not otherwise qualify to use the MJDS if the aggregate market value of its outstanding Common Shares held by non-affiliates is not at least $75,000,000.

*The SEC's adoption of the "Modernization of Property Disclosures for Mining Registrants," as codified in Subpart 1300 of Regulation S-K, has created new disclosure requirements for Mineral Reserves and Mineral Resources for certain SEC reporting companies that may result in increased compliance costs for the Company and could create ambiguity for issuers required to comply with both the requirements of Subpart 1300 of Regulation S-K and NI 43-101* 

Subpart 1300 of Regulation S-K requires SEC reporting companies that are not eligible to use the MJDS to disclose specific information related to its material mining operations, including with particularity its mineral resources and mineral reserves. While Subpart 1300 of Regulation S-K is substantively the same as NI 43-101(with the primary difference being NI 43-101's required format, a matter on which Subpart 1300 of Regulation S-K is silent), the regulatory changes nonetheless would require the Company to update its existing technical reports to disclose mineral reserves and mineral resources, which would result in the Company incurring substantial costs if the Company undertook such updates. The Company has not prepared a technical summary in compliance with Subpart 1300 of Regulation S-K and there has been little guidance as to the acceptability of such an approach by the SEC with respect to issuers required to comply with both the requirements of Subpart 1300 of Regulation S-K and NI 43-101. The Company cannot predict the nature of any future enforcement, interpretation, application or potential costs of Subpart 1300 of Regulation S-K. Any further revisions to, or interpretations of, Subpart 1300 of Regulation S-K or NI 43-101 could result in the Company incurring unforeseen costs associated with compliance, including in relation to its NI 43-101 disclosure.

*International conflict* 

International conflict and other geopolitical tensions and events, including war, military action, terrorism, trade disputes, and international responses thereto have historically led to, and may in the future lead to, uncertainty or volatility in global commodity and financial markets and supply chains. Recent conflict in Iran, Russia's ongoing invasion of Ukraine or other international action, any of which may have a destabilizing effect on commodity prices, supply chains, and global economies more broadly. Volatility in commodity prices and supply chain disruptions may adversely affect the Company's business, financial condition, and results of operations. The extent and duration of the current conflict related to Iran, Russia-Ukraine conflict or other international action cannot be accurately predicted at this time and the effects of such conflict may magnify the impact of the other risks identified in this Annual Information Form, the consolidated financial statements of the Company or MD&A, including those relating to commodity price volatility and global financial conditions. The situation is rapidly changing and unforeseeable impacts, including on shareholders of the Company, and third parties with which the Company relies on or transacts, may materialize and may have an adverse effect on the Company's business, financial condition, results of operation, cash flows and prospects.

*Artificial intelligence presents risks and challenges that can impact our business by increasing compliance costs and posing security risks to our confidential information.* 

The Company uses, and may increasingly rely on, artificial intelligence ("**AI**") systems in certain aspects of its operations and may incorporate AI-enabled tools provided by third parties. The legal and regulatory framework governing AI in Canada and the United States and other jurisdictions is evolving as well as guidance from securities regulators regarding disclosure expectations. New or changing requirements

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

could increase compliance costs, require modifications to the Company's AI systems, restrict certain uses of AI, or expose the Company to regulatory scrutiny or enforcement actions.

AI systems may produce inaccurate, biased, or otherwise unreliable outputs and may present privacy, cybersecurity, intellectual property, and human rights risks. The Company's reliance on third-party AI providers may limit the Company's visibility into training data, model design and risk controls. Failure to manage these risks effectively, or to provide appropriate disclosure regarding the Company's use of AI, could result in legal liability, reputational harm, regulatory investigations, or adverse impacts on the Company's business, financial condition, results of operations, cash flows and prospects.

**MINERAL RESERVES AND MINERAL RESOURCES**

*Mineral Reserves*

The following tables summarize the Company's mineral reserve estimates on its material mineral properties, the Florida Canyon Mine and the DeLamar Project, in each case as at the dates set out in the footnotes.

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Proven** | **Proven** | **Proven** | **Probable** | **Probable** | **Probable** | **Proven & Probable** | **Proven & Probable** | **Proven & Probable** |
| **Mineral Reserves**<br>**GOLD (Au)** | | **Tonnes (kt)** | **Grade (g/t)** | **Ounces (koz)** | **Tonnes (kt)** | **Grade (g/t)** | **Ounces (koz)** | **Tonnes (kt)** | **Grade (g/t)** | **Ounces (koz)** |
| *Florida Canyon Mine (a)* | *Oxide* |  |  |  | 58035 | 0.37 | 685 | 58035 | 0.37 | 685 |
| *DeLamar Project (b)* | *Oxide* | 11675 | 0.40 | 149 | 108297 | 0.32 | 1110 | 119972 | 0.33 | 1259 |
| *DeLamar Project (b)* | *Sulphide* |  |  |  |  |  |  |  |  |  |
| ***TOTAL*** | ***Mixed*** | **11675** | **0.40** | **149** | **166332** | **0.34** | **1795** | **178007** | **0.34** | **1944** |

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Proven** | **Proven** | **Proven** | **Probable** | **Probable** | **Probable** | **Proven & Probable** | **Proven & Probable** | **Proven & Probable** |
| **Mineral Reserves**<br>**SILVER (Ag)** | | **Tonnes (kt)** | **Grade (g/t)** | **Ounces (koz)** | **Tonnes (kt)** | **Grade (g/t)** | **Ounces (koz)** | **Tonnes (kt)** | **Grade (g/t)** | **Ounces (koz)** |
| *Florida Canyon Mine (a)* | *Oxide* |  |  |  |  |  |  |  |  |  |
| *DeLamar Project (b)* | *Oxide* | 11675 | 16.34 | 6132 | 108297 | 13.26 | 46173 | 119972 | 13.56 | 52305 |
| *DeLamar Project (b)* | *Sulphide* |  |  |  |  |  |  |  |  |  |
| ***TOTAL*** | ***Mixed*** | **11675** | **16.34** | **6132** | **108297** | **13.26** | **46173** | **119972** | **13.56** | **52305** |

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Notes:

(a) Florida Canyon Mine

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.Mineral reserves estimate has been converted into metric tonnes from short tons using a factor of 0.9072.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Mineral reserves are reported at the point of delivery to the process plant, using the 2014 CIM Definition Standards, based on the June 2024 Technical Report estimate with additional production depletion applied through December 31, 2025. The qualified person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects for the estimate is Ms. Terre Lane, MMSA QP, a Global Resource Engineering, Ltd. employee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Mineral reserves are constrained within an open pit design that uses the following assumptions: gold price of US$1,800/oz considering only oxide material; gold recoveries varied by deposit and ore type, ranging from 45% to 64%; reference mining cost of $2.74/t mined in-situ and $2.08/t mined fill; processing cost of $4.97/t processed for oxide crushed material and $2.67/t for oxide run-of-mine ("**ROM**") material; G&A costs of $1.20/t ore processed; treatment and refining costs of $6.57/oz gold recoverable; royalty costs of $88.00/oz gold recoverable; and pit slope inter-ramp angles ranged from 38–42° for rock and 30° for alluvium / fill.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.Mineral reserves are reported at a cut-off grade ranging from 0.13 g/t to 0.20 g/t.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.Mineral Reserves include a stockpile of 1,934 kt at an average grade of 0.19 g/t and total contained gold of 11.57 koz.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.Mineral Reserves include Heap Leach Inventory of 3,548 kt at an average grade of 0.29 g/t and total contained gold of 32.58 koz.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.Numbers have been rounded and may not sum.

(b) DeLamar Project

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.All estimates of Mineral Reserves have been prepared in accordance with NI 43-101 standards and are included within the current Measured and Indicated Mineral Resources.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Sterling K, Watson, P.Eng., of RESPEC Company LLC of Reno, Nevada, is a qualified person as defined in NI 43-101, and is responsible for reporting Mineral Reserves for the DeLamar Project. Mr. Watson is independent of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Mineral Reserves are based on prices of $2,000/oz Au and $25/oz Ag. The Mineral Reserves were defined based on pit designs that were created to follow optimized pit shells created in Whittle. Pit designs followed pit slope recommendations provided by RESPEC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.Mineral Reserves are reported using block value cutoff grades representing the cost of processing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.The Mineral Reserves are constrained by pit optimizations using a price of $2,000/oz Au, a price of $25/oz Ag, mining cost of $2.50/tonne, variable processing costs ranging from $3.26-$5.30/tonne, and metallurgical recoveries ranging from 45%-95% for Au and 15%-92% for Ag. The pit optimizations also used a G&A cost of $0.65/tonne, pad replacement cost of $1.00/tonne for heap-leach material, and refining costs of $0.00/oz and $0.50 for Au and Ag, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.Energy prices of US$3.50 per gallon of diesel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.Pit optimizations were run on a range of prices from $500/oz Au to $3,000/oz Au.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.The cut-off grade for Mineral Reserves is based on economics at a "break-even Internal" cut-off grade for the deposits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.The Mineral Reserves purposes of reference is the point where material is fed into the crusher.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. All ounces reported herein represent troy ounces, "g/t Au" represents grams per tonne gold and "g/t Ag" represents grams per tonne silver.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.Mineral Resources reported are inclusive of Mineral Reserves.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.Rounding as required by reporting guidelines may result in apparent discrepancies between tonnes, grades, and contained metal content.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.The estimate of Mineral Reserves may be materially affected by geology, environment, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.The Effective Date of the Mineral Reserves Estimate is December 8, 2025.

REMAINDER OF PAGE LEFT INTENTIONALLY BLANK

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

*Mineral Resources*

The following tables summarize the Company's mineral resource estimates on its material mineral properties, the Florida Canyon Mine, the DeLamar Project and the Nevada North Project, in each case as at the dates set out in the footnotes.

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| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Measured** | **Measured** | **Measured** | **Indicated** | **Indicated** | **Indicated** | **Measured & Indicated** | **Measured & Indicated** | **Measured & Indicated** | **Inferred** | **Inferred** | **Inferred** |
| **Mineral Resources**<br>**GOLD (Au)** | | **Tonnes (kt)** | **Grade (g/t)** | **Ounces (koz)** | **Tonnes (kt)** | **Grade (g/t)** | **Ounces (koz)** | **Tonnes (kt)** | **Grade (g/t)** | **Ounces (koz)** | **Tonnes (kt)** | **Grade (g/t)** | **Ounces (koz)** |
| *Florida Canyon Mine (a)* | *Oxide* |  |  |  | 64362 | 0.36 | 748 | 64362 | 0.36 | 748 | 35297 | 0.32 | 361 |
| *Florida Canyon Mine (a)* | *Sulphide* |  |  |  |  |  |  |  |  |  | 59532 | 0.96 | 1842 |
| *DeLamar Project (b)* | *Oxide* | 15548 | 0.41 | 204 | 139953 | 0.31 | 1400 | 155501 | 0.32 | 1604 | 19813 | 0.26 | 163 |
| *DeLamar Project (b)* | *Sulphide* | 21643 | 0.51 | 357 | 68629 | 0.45 | 984 | 90272 | 0.46 | 1341 | 19789 | 0.37 | 235 |
| *Nevada North Project (c)* | *Oxide* |  |  |  | 84686 | 0.44 | 1207 | 84686 | 0.44 | 1207 | 26251 | 0.31 | 264 |
| *Nevada North Project (c)* | *Sulphide* |  |  |  | 3938 | 0.92 | 117 | 3938 | 0.92 | 117 | 360 | 0.60 | 7 |
| ***TOTAL*** | ***Mixed*** | **37191** | **0.47** | **561** | **361568** | **0.38** | **4456** | **398759** | **0.39** | **5017** | **161041** | **0.55** | **2872** |

---

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| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Measured** | **Measured** | **Measured** | **Indicated** | **Indicated** | **Indicated** | **Measured & Indicated** | **Measured & Indicated** | **Measured & Indicated** | **Inferred** | **Inferred** | **Inferred** |
| **Mineral Resources**<br>**SILVER (Ag)** | | **Tonnes (kt)** | **Grade (g/t)** | **Ounces (koz)** | **Tonnes (kt)** | **Grade (g/t)** | **Ounces (koz)** | **Tonnes (kt)** | **Grade (g/t)** | **Ounces (koz)** | **Tonnes (kt)** | **Grade (g/t)** | **Ounces (koz)** |
| *Florida Canyon Mine (a)* | *Oxide* |  |  |  |  |  |  |  |  |  |  |  |  |
| *Florida Canyon Mine (a)* | *Sulphide* |  |  |  |  |  |  |  |  |  |  |  |  |
| *DeLamar Project (b)* | *Oxide* | 15548 | 20.46 | 10230 | 139953 | 13.72 | 61750 | 155501 | 14.40 | 71979 | 19813 | 8.16 | 5201 |
| *DeLamar Project (b)* | *Sulphide* | 21643 | 32.90 | 22922 | 68629 | 22.30 | 49254 | 90272 | 24.87 | 72176 | 19789 | 15.20 | 9664 |
| *Nevada North Project (c)* | *Oxide* |  |  |  | 84686 | 3.22 | 8768 | 84686 | 3.22 | 8768 | 26251 | 2.57 | 2171 |
| *Nevada North Project (c)* | *Sulphide* |  |  |  | 3938 | 8.47 | 1072 | 3938 | 8.47 | 1072 | 360 | 4.58 | 53 |
| ***TOTAL*** | ***Mixed*** | **37191** | **27.73** | **33152** | **297206** | **12.65** | **120844** | **334397** | **14.32** | **153995** | **66213** | **8.03** | **17089** |

---

Notes:

(a) Florida Canyon Mine

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.Mineral resources estimate has been converted into metric tonnes from short tons using a factor of 0.9072.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Mineral resources are reported at the point of delivery to the process plant, using the 2014 CIM Definition Standards, based on the June 2024 Technical Report estimate with additional production depletion applied through December 31, 2025. The qualified person as defined under NI 43-101 for the estimate is Ms. Terre Lane, MMSA QP, a Global Resource Engineering, Ltd. employee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Mineral resources are reported inclusive of those mineral resources converted to mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.Mineral resources are constrained within a conceptual open pit shell that uses the following assumptions: gold price of US$1,800/oz; gold recoveries ranging from 45% to 64% for oxides and 80% for sulfides; reference mining cost of $2.74/t mined in-situ and $2.08/t mined fill; processing cost of $4.97/t processed for oxide crushed material and $2.67/t processed for oxide ROM material; processing cost of $23.15/t processed for sulfide material; general and administrative costs of $1.20/t processed; treatment and refining costs of $6.57/oz Au recoverable; royalty of $88.00/oz Au recoverable, and pit slope overall angles ranging from 30–36°.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.Mineral resources are reported at a cut-off grade ranging from 0.13 g/t to 0.20 g/t for oxides and is 0.56 g/t for sulfides.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.Mineral resources include a stockpile of 1,934 kt at an average grade of 0.19 g/t and total contained gold of 11.57 koz.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.Mineral resources include Heap Leach Inventory of 3,548 kt at an average grade of 0.29 g/t and total contained gold of 32.58 koz.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.Numbers have been rounded and may not sum.

(b) DeLamar Project

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.Mineral resources that are not mineral reserves do not have demonstrated economic viability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Jeffrey Bickel, C.P.G. and Senior Geologist for RESPEC, is a qualified person as defined in NI 43-101 and is responsible for reporting mineral resources in this technical report. Mr. Bickel is independent of Integra.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.In consideration of potential open-pit mining and heap-leach processing, in-Situ oxide/transition mineral resources are reported at a 0.17 g AuEq/t cut-off, and stockpile mineral resources are reported at a 0.1 g AuEq/t cut-off.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.Sulfide mineral resources are reported at a 0.3 g AuEq/t cut-off at DeLamar and 0.2 g AuEq/t at Florida Mountain in consideration of potential open pit mining and grinding, flotation, ultra-fine regrind of concentrates, and either Albion or agitated cyanide-leaching of the reground concentrates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.The mineral resources are constrained by pit optimizations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.AuEq was calculated using a price of $2,650/oz Au and a price of $30/oz Ag, as well as metallurgical recoveries which were variable based on spatial area and each respective oxidation zone of the deposit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.Rounding as required by reporting guidelines may result in apparent discrepancies between tonnes, grades, and contained metal content.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.The effective date of the mineral resources is December 8, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.

(c) Nevada North Project

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.Effective date of the Mineral Resource Estimate is June 28, 2023.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.William J. Lewis, P.Geo., of Micon has reviewed and verified the Mineral Resource Estimate for the Wildcat Project. Mr. Lewis is an independent Qualified Person, as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The estimate is reported for an open-pit mining scenario, based upon reasonable assumptions. The cut-off grade of 0.15 g/t Au was calculated using a gold price of US$1,800/oz, mining costs of US$2.4/t, processing cost of US$3.7/t, G&A costs of US$0.5/t, and metallurgical gold recoveries varying from 73.0% to 52.0% and silver recoveries of 18%. The gold equivalent figures in the resource estimate are calculated using the formula (g/t Au + (g/t Ag ÷ 77.7)).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.An average bulk density of 2.6 g/cm3 was assigned to all mineralized rock types.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.The Inverse Distance cubed interpolation was used with a parent block size of 15.24 m x 15.24 m x 9.144 m.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.Rounding as required by reporting guidelines may result in minor apparent discrepancies between tonnes, grades, and contained metal content.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.The estimate of mineral resources may be materially affected by geological, environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.Neither Integra nor Micon's QP is aware of any known environmental, permitting, legal, title-related, taxation, socio-political, marketing or other relevant issue that could materially affect the mineral resource estimate other than any information already disclosed in this report.

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

**FLORIDA CANYON MINE**

The scientific and technical information contained in this AIF relating to the Florida Canyon Mine is supported by the technical report regarding the Florida Canyon Mine ("**FCM**") prepared for FCGI and entitled "NI 43-101 Technical Report, Florida Canyon Gold Mine, Pershing County, Nevada, USA" dated July 11, 2024 (with an effective date of June 28, 2024) (the "**Florida Canyon Report**") prepared by Todd Harvey, PhD, PE, Terre Lane, MMSA, Hamid Samari, PhD, MMSA, and Larry Breckenridge, PE, who are each a "qualified person" and independent" of the Company within the meaning of NI 43-101. Reference should be made to the full text of the Florida Canyon Report, which is available under Integra's SEDAR+ profile at <u>www.sedarplus.ca</u> and EDGAR profile at <u>www.sec.gov</u>.

Where appropriate, certain information contained in this AIF updates information derived from the Florida Canyon Report. Any updates to the technical information derived from the Florida Canyon Report and any other technical information contained in this AIF was prepared by or under the supervision of James Frost, P.Eng., the Company's Director, Technical Services, and a qualified person within the meaning of NI 43-101.

The Florida Canyon Report is not and shall not be deemed to be incorporated by reference in this AIF.

*Project Description, Location and Access*

The Florida Canyon mine is owned by Florida Canyon Mining Inc. ("**FCMI**") and is located 125 miles east of Reno Nevada, and immediately south and east of Interstate 80. The nearest towns are Winnemucca, 40 miles northeast with a population of 8,388 (2022) and Lovelock, 33 miles southwest, with a population of 1,854 (2022). The highway exit for the Florida Canyon mine from I-80 is at Imlay, Nevada. Access is reliable via the Interstate year around.

The mine currently produces gold by conventional hard rock open pit mining with processing by 2 stage crushing and run-of-mine ("**ROM**") heap leaching. The mine was in continuous operation from 1986 through 2011 and then intermittently until 2015. It was reopened in mid-2016 and has been in operation since that time.

The land package owned or leased by FCMI covers a total of 18,804.28 acres. Fee lands total 5,520.4 acres and 656 unpatented claims total 13,283.88 acres. Contained within the fee lands are 19 patented claims totaling 359.9 acres.

*History* 

Gold was discovered in 1860 in Humboldt Canyon, which led to the organization of the Imlay Mining District. Numerous claims were filed in the area and the population of Humboldt City grew to 500 by 1863. Mining in the district was limited until 1906 when the Imlay Gold mine and the Black Jack Mercury mine were discovered. The most productive mine in the district was the Standard mine, which produced more than $1 million in gold and silver between 1939 and 1949.

In 1969, Homestake Mining Company obtained a lease on property in the Florida Canyon area. Seven widely spaced rotary holes were drilled with marginal results, and the property was dropped. Cordilleran Explorations ("**Cordex**") next leased the property between 1972 and 1978. A comprehensive program of geologic mapping, geochemical sampling, and trenching was completed. A total of 25 of 37 drill holes completed were in a mineralized zone referred to as the West Trend, on the site of present-day Florida Canyon Mine. When Cordex dropped their lease in 1978, Flying J Mines carried out a limited heap-leach operation in the West Trend material.

Between 1969 and 1982, three major mining companies explored the property and chose not to proceed with development of the deposit.

In 1982, Montoro Gold Company ("**Montoro**"), a subsidiary of Pegasus Gold Corporation, ("**Pegasus**") acquired the property. Montoro began an aggressive program to expand mineral reserves and enlarge the property position. Detailed geologic mapping and geochemical sampling led to the discovery of other

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

anomalous gold occurrences throughout the property. By the end of 1985, 241 drill holes were completed totaling 87,569 ft in the West Trend and adjacent deposits. In addition, 46 holes were completed in other exploration targets to the south and east.

In November 1985, a decision was made by Pegasus to put the property into production. Permitting and project development followed with startup of a new mine in 1986. Pegasus operated the Florida Canyon Mine until January 1998. Pegasus began having financial problems in 1997 when the price of gold decreased from $370/oz in January to $283/oz in December. In January 1998, Pegasus filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code.

Under two separate plans of reorganization approved by major creditors and confirmed by the court, certain former Pegasus affiliates emerged from bankruptcy protection during February 1999. The first involved the reorganization of Pegasus Gold International, Inc. (the international exploration affiliate of Pegasus) which was reincorporated as Apollo Gold Inc. Apollo Gold Inc. became the holding company for three former Pegasus subsidiaries, including FCMI.

Apollo Gold Inc. was acquired during the second quarter of 2002 by Nevoro Gold Inc. ("**Nevoro**"). Nevoro became a publicly traded company on the Toronto Stock Exchange and subsequently changed its name to Apollo Gold Corporation ("**Apollo**"). Apollo operated the Florida Canyon Mine and the nearby Standard mine through its FCMI and Standard Gold Mine, Inc. ("**SGMI**") subsidiaries until Jipangu International, the U.S. Subsidiary of Jipangu Inc., acquired the Florida Canyon and Standard properties on November 18, 2005. Jipangu operated the properties until 2015. Jipangu defaulted on debt and the property became majority owned by Admiral Financial Group ("**Admiral**"). Rye Patch Gold Corp. ("**Rye Patch**"), agreed to acquire the Florida Canyon property and related assets from Admiral and Jipangu International, Inc. through acquisition of their three subsidiary companies, FCMI, SGMI, and Jipangu Exploration. Rye Patch operated the property until the second quarter of 2015 and shut down for about a year.

In mid-2016, Rye Patch resumed open pit mining and heap leaching operations and declared commercial production in December 2017. In May 2018, Alio acquired Rye Patch by way of a Plan of Arrangement transaction and as a result held 100% of the Florida Canyon and Standard mine properties.

Argonaut Gold Inc. ("**Argonaut**") acquired the Florida Canyon property through its arrangement agreement with Alio Gold Inc. ("**Alio**"), which closed on July 1, 2020.

Alamos Gold Inc. acquired Argonaut in 2024 and the Florida Canyon Mine and other Argonaut properties located in Mexico were "spun out" as an independent company, Florida Canyon Gold Inc.

The Florida Canyon Mine was subsequently acquired by Integra through a business combination with FCGI, which closed on November 8, 2024.

*Geology and Mineralization*

The Florida Canyon and Standard mine deposits are located in the Humboldt Range, which is a major north- trending anticlinal structure likely formed during the Sevier Orogeny.

The Florida Canyon area is dominated by a major regional structural zone, termed the Humboldt Structural Zone, a 200-km long northeasterly-trending left-lateral strike slip fault zone. One of the principal structural features within the Humboldt Structural Zone is the Midas Trench lineament, which abruptly terminates at the north end of the Humboldt Range. Mineralization and alteration in the Florida Canyon and Standard mine deposit areas are localized where the Midas Trench lineament intersects the Humboldt Structural Zone.

The Florida Canyon gold deposits are hosted by the Triassic Grass Valley Formation and Natchez Pass Limestone and in places within Prida Formation.

Three types of mineralization are present at Florida Canyon. The primary type is disseminated gold mineralization within siltstone and silty sandstone. In addition, gold mineralization occurs along brecciated

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

contacts and karsted areas of the Natchez Pass limestone. The third type of gold mineralization occurs as epithermal hot springs type vein mineralization.

*Status of Exploration, Development and Operations* 

The vast majority of the exploration and infill drilling at Florida Canyon took place between 1969 through 2017. The current database contains 4,392 RC holes and 83 core holes for a total of 4,475 drill holes amounting to 1,954,712 feet of drilling. Of this, 81% of the drilling was completed by the operators Pegasus and/or Apollo. After acquiring the Florida Canyon property on July 1, 2020, Argonaut completed 126,933 feet of RC drilling in 493 holes, and 12,149 feet of core drilling in 25 holes through the end of 2023, primarily focusing on infill, development, exploration drilling and model improvement. At Standard mine, Argonaut completed 14,105 feet of RC drilling in 54 holes through the end of 2023 primarily focusing on exploration drilling.

In 2023 the Argonaut drilled 12 core holes for a total of 9,818 feet and 108 RC holes for 34,820 feet. The purpose of this program was to better understand the controls of mineralization and to define additional resources in both the oxide and sulfide zones of the deposit.

In 2024, Integra drilled 28 Reverse Circulation holes for a total of 7,950 feet of drilling focusing in the North Pit area.

2025 drilling totaled 52,523 feet and included the following categories and footage drilled. Infill and risk mitigation reverse circulation drilling inside and near existing pits was 23,640 feet; core drilling for geotechnical testing was 5,490 feet; core drilling for metallurgical testing was 1,424 feet; reverse circulation drilling in previously placed waste dumps that are now above economic cutoff grades was 17,015 in two waste dump areas on the site; sonic bulk sampling drilling on the waste dumps was 2,757 feet and sonic bulk sampling drilling in the non-operating north heap leach pad was 2,197 feet.

2026 drilling and exploration plans are broken into three categories, waste dump and leach pad drilling, infill and close proximity to current pit areas and step out exploration work. The waste dump is planned for 42,740 feet of reverse circulation drilling split between two historic waste dumps plus 21,450 feet of reverse circulation drilling in the historic north heap leach pad. The infill drilling around and inside pit designs is planned for 60,000 feet of reverse circulation drilling. The outlying drilling plans are for 26,600 feet of reverse circulation drilling and 3,100 feet of core drilling plus additional work for geologic mapping, soil and rock chop sampling and geophysics work.

*Sampling, Analysis and Data Verification*

Limited information is available regarding the procedures applied to the legacy database at the Florida Canyon Mine.

Prior to 2017, there are historical reports that recovery from RC drilling was generally good, but that recovery decreased when strongly fractured or broken ground was encountered. In these instances, tri-cone drilling was often implemented to improve sample recovery. Character samples (RC chips from the drill cuttings) were collected and logged but have since been lost or discarded. Similarly, all cores taken prior to 2017 have been lost. Since acquiring the Florida Canyon property on July 1, 2020, Argonaut has stored all RC chips and core drilled.

Information in historical reports shows preparation of RC samples consisted of drying the entire sample at approximately 110 degrees Celsius, then jaw crushing the entire sample to 100% passing 6-mesh. A riffle splitter is used to split out approximately 500 grams which is pulverized with a ring and puck pulverizer to a nominal - 150 mesh. The pulp was then roll mixed and transferred to a sample envelope.

The same general preparation procedures used for RC samples are also used for core samples. After drying, the entire core sample is jaw-crushed to -0.75 inch, and a 3 to 4 lb sub-sample is collected using a riffle splitter. The smaller split is then crushed, split, and pulverized following the same procedures as applied to RC samples.

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

Gold was analyzed by fire assay using a 30 gram aliquot. After fusion, the gold content is determined by atomic absorption ("**AA**") spectrometry. All samples that return gold values greater than 0.30 oz/ton are re-assayed, with gravimetric finish. American Assay Labs ("**AAL**"), an ISO 17025 accredited lab, has been the primary lab used and accounts for 67% of the assays of the entire database. AAL includes quality control standards and blanks with each sample batch and routinely performs duplicate analyses on about 10% of all sample pulps.

AAL's analytical QA/QC program reportedly consisted of the insertion of 1 standard, one blank and at least four duplicate pulps for every batch of 50 samples assayed. AAL also continually monitored their lab performance by participating in the CANMET round robin surveys.

In 2020, work at the Florida Canyon Mine assay laboratory identified a situation with 30 gm fire assays that has very likely been ongoing for some time. Head grade samples from the crusher sampler at the Florida Canyon Mine are routinely collected on a daily basis. The output from the 2<sup>nd</sup> stage crush is sampled from the S4 belt every hour with a sample cutter. There are 24 samples per day which are combined and blended into a single sample per shift.

The 30 gm fire assays at the Florida Canyon Mine lab have suffered from repeatability issues when routine duplicates are rerun as an internal QAQC check. The issue has been identified with screen fire assays as free gold particles that range in size from 80 to 150 mesh. If a free gold particle occurs in a 30 gm charge, the grade is unstable compared to another 30 gm charge without a free particle.

Head assay procedures at the Florida Canyon Mine lab have been modified to address this issue as follows:

1)1,000 gm if the sample is pulped and subjected to bottle roll cyanide testing for 16 hours with sufficient cyanide to assure dissolution of the free particles.

2)The bottle roll cyanide solution is assayed.

3)The residue is rinsed and fire assayed with a 30 gm charge.

4)The residue assay and the solution assay are combined to determine the gold content.

This method has been implemented for roughly two years at site and the results are highly reproducible. This method has not been applied to any of the assay data used to establish the mineral resource or mineral reserve.

In 2017 the Florida Canyon Mine implemented industry-approved QA/QC protocols utilizing certified reference materials ("**CRMs**"), blanks, and duplicate samples to validate drill hole samples to be included in the estimation of mineral resources and mineral reserve. All drilling since 2017 includes ~10% control samples to ensure reliable assay results. Check assays are also completed at a secondary laboratory to provide a control on the primary laboratory (American Assay Lab).

In addition to the current QA/QC protocols used to validate the drillhole database a re-examination of limited historical duplicate data, and a review of data validation reports prior to 2017 have been done to determine the efficacy of the historical drilling. This coupled with the reconciliation of the exploration data used for mineral resource and mineral reserve estimation to the ore control data and production data show the assay database is reliable for resource and reserve estimation.

*Mineral Processing and Metallurgical Testing*

Florida Canyon Mine has been in operation since 1986. Currently, ore from all operating pits is placed on the South Heap Leach Pad, which was started in 2017. Most recently, Phase III-B was constructed in 2025. There have been 62.6M crushed tonnes and 23.0M ROM tonnes placed on Phases I, II and III through December 2025. Current pad-to-date recovery is 58.7% with a final recovery of 62.5% expected. Based on metallurgical test work conducted on-site, final gold recovery is expected to achieve 64% from crushed ore and 53% from ROM ore from the Central, Main and Jasperoid pits. Ore from the Radio Towers pit is estimated to be 58% and 47% for crushed and ROM ore, respectively.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

Results of metallurgical column tests on monthly crusher composite samples in 2022 and 2023 indicate high variability in recovery estimates, ranging from 52% - 77% with an average of 59%. In-pad solution samples, other field sampling, and spillway flow measurements indicate the current ore is performing in line with expected results. Recently, actual pad recovery has been positively impacted by the production of ounces that were not recovered in 2023 and 2024 due to short cycling of primary leach cycles during that time. The carbon-in-column upgrade completed in 2024 and Phase III pad expansions completed in 2024 and 2025 enables recovery of those inventoried ounces from Phases I and II in 2025-2027.

*Mineral Resource and Mineral Reserve Estimates*

The Florida Canyon Mine mineral reserve and mineral resource estimates remain based on the Florida Canyon Report estimate, with additional production depletion applied through December 31, 2025. This is summarized in the "Mineral Reserves and Mineral Resources" table contained in this AIF.

Florida Canyon Mine mineral reserves and mineral resources decreased relative to the previously disclosed December 31, 2024 estimate solely due to mining depletion. In total, 104,000 model ounces were removed from mineral reserves and 106,000 model ounces were removed from mineral resources.

*Mining Methods*

The Florida Canyon Mine is a conventional open pit hard rock mining operation. Bench heights are 25 ft and the loading and haulage fleet are 13 to 17 cu yd front loaders and a 30 cu yd shovel matched to a split fleet of 100-ton and 150-ton rigid frame haul trucks. Newer loading and hauling equipment has been leased from Caterpillar and Hitachi and includes maintenance and repair contracts on the leased units.

*Recovery Methods*

The Florida Canyon Mine is a conventional gold/silver heap leach operation where ore passes through two stages of open circuit crushing. The crushed ore is agglomerated with a polymer binding agent and stacked in 20 – 40 foot lifts. Solution is applied through drip tubes. Discharge (pregnant solution) from the bottom of the pad is sent to carbon columns. There is no intermediate or recycled solution. Loaded carbon is pressure stripped, gold is recovered by electrowinning and precipitate is melted into doré bars.

*Project Infrastructure*

All of the infrastructure that is required to sustain production at the Florida Canyon Mine is in place. The mine is located adjacent to Interstate 80 which provides easy access to Reno, Salt Lake City, and the nearby mine support communities of Winnemucca and Elko, Nevada. Spare parts, process consumables, blasting agents, and fuel are readily available.

Power is supplied to the mine by a 60-kV overhead transmission line owned and operated by NV Energy, the major power supplier in the state of Nevada. The power is delivered to an onsite substation. FCMI owns, operates, and maintains the substation. Mine site 25-kV power lines feed distribution transformers at the crusher, process plant, refining, and other facilities on site.

Water requirements are met with underground wells on site. The Florida Canyon Mine has 2,415 acre-feet of water rights, which are adequate to meet operational requirements.

*Environmental Studies and Permitting*

The Florida Canyon Mine has undergone numerous environmental studies over the years, as is normal of mature properties. All permits are in place to continue mine operations.

The Florida Canyon Mine is partially located on public lands administered by the U.S. Department of the Interior, Bureau of Land Management. Any amendment of the Plan of Operations requires an assessment and disclosure of potential environmental and limited social impacts as part of the BLM's obligations under NEPA.

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

Additional permits will be required from time to time to extend the mine life. At present, all required permits to support the capital investment into South Heap Leach Pad Phase III expansion, which is expected to extend the continuity of mine operation.

The 2025 estimate for total closure and reclamation of the Florida Canyon Mine was $31.6 million on a discounted basis.

*Capital and Operating Costs*

The remaining life of mine ("**LOM**") capital expenditures estimate for the Florida Canyon Mine as at December 31, 2025 is as follows:

---

| | |
|:---|:---|
| **Description** | **LOM ($000s)** |
| **Phase X Leach Pad** | 15000 |
| **Radio Towers Move** | 3000 |
| **Other** | 34300 |
| **Total Capex** | **52300** |

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*Exploration, Development and Production*

The Company plans to complete expansion projects and studies whose results will be included in an updated technical report to be released in the third quarter of 2026, and growth exploration meant to test targets outside of the active mine boundary. The Technical Report will include the results of the oxide growth drilling program from 2025 which focused on near-mine targets, including inter-pit areas and historical low grade stockpiles. The 2026 growth exploration program is expected to include ~8,000 meters of reverse circulation drilling and ~1,000 meters of core drilling focused on testing new targets.

Capital stripping is planned in 2026 to expand the Central Pit, Florida Canyon's largest and most consistent mining area, providing access to additional mineralization for extraction in subsequent years.

The Company is planning further upgrades to its mobile fleet at Florida Canyon in 2026. Key investment areas include the purchase of new equipment such as an excavator, a loader, eight haul trucks and several auxiliary pieces as well as rebuilding several existing pieces of mobile equipment.

**DELAMAR PROJECT**

The scientific and technical information contained in this AIF supplement relating to the DeLamar Project is supported by the technical report regarding the DeLamar Project prepared for the Corporation and entitled "Feasibility Study and Technical Report on the DeLamar Project, Owyhee County, Idaho, USA" dated February 2, 2026, with an effective date of December 8, 2025 (the "**DeLamar Report**") prepared by Barry Carlson, P.E., P.Eng., SME-RM, Deepak Malhotra, Ph.D., SME-RM, Jeffrey Bickel, CPG, Sterling (Keith) Watson, P.Eng. and Jay Nopola, P.E., P.Eng., CPG, who are each a "qualified person" and independent of the Corporation within the meaning of NI 43-101. Reference should be made to the full text of the DeLamar Report, which is available under Integra's SEDAR+ profile at <u>www.sedarplus.ca</u> and EDGAR profile at <u>www.sec.gov</u>.

Where appropriate, certain information contained in this AIF supplement updates information derived from the DeLamar Report. Any updates to the technical information derived from the DeLamar Report and any other technical information contained in this AIF supplement was prepared by or under the supervision of James Frost, P.Eng., the Corporation's Director, Technical Services, and a qualified person within the meaning of NI 43-101.

The DeLamar Report is not and shall not be deemed to be incorporated by reference in this AIF supplement.

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

*Project Description, Location and Access*

The DeLamar Project encompasses the DeLamar and Florida Mountain deposit areas. The DeLamar Project area, as described in the DeLamar Report, includes 790 unpatented lode, placer, and millsite claims, and 16 tax parcels comprised of patented mining claims, as well as certain leasehold and easement interests, that cover approximately 8,673 hectares (21,431 acres) in southwestern Idaho, about 80 kilometers ("**km**") (50 miles) southwest of Boise. The DeLamar Project is approximately centered at 43°00'48″N, 116°47'35″W, within portions of the historical Carson (Silver City) mining district, and it includes the formerly producing DeLamar mine last operated by Kinross Gold Corporation ("**Kinross**"). The total annual land-holding costs are estimated to be US$600,107. All mineral titles and permits are held by the DeLamar Mining Company ("**DMC**"), an indirect, 100% wholly owned subsidiary of Integra that was acquired from Kinross through a stock purchase agreement in 2017. DMC maintains the mineral rights of the unpatented mineral claims by duly filing with the BLM on an annual basis: (i) a notice of intent to hold affidavit; and (ii) payment of the claim maintenance fees. DMC holds surface rights to the areas it has under lease in accordance with the terms of each lease. These surface rights are considered sufficient for the exploration and mining activities proposed in the DeLamar Report, subject to regulation by the BLM and State of Idaho.

The principal access is from U.S. Highway 95 and the town of Jordan Valley, Oregon, proceeding east on Yturri Blvd. from Jordan Valley for 7.6 kilometers (4.7 miles) to the Trout Creek Road (Figure 1). It is then another 39.4 kilometers (24.5 miles) travelling east on the gravel Trout Creek Road to reach the DeLamar mine tailing facility and nearby site office building. Travel time by automobile via this route is approximately 35 minutes.

A total of 284 of the unpatented claims were acquired from Kinross, 101 of which are subject to a 2.0% net smelter returns royalty ("**NSR**") payable to a predecessor owner. This royalty is not applicable to the current project resources and reserves.

There are also eight lease agreements covering 33 patented claims and five unpatented claims that require NSR payments ranging from 2.0% to 5.0%. One of these leases covers a small portion of the DeLamar deposit area resources and one covers a small portion of the Florida Mountain deposit area resources and reserves, with 5.0% and 2.5% NSRs applicable to maximums of US$50,000 and US$650,000 in royalty payments, respectively.

The DeLamar Project includes 1,561 hectares (3,858 acres) under 7 leases from the State of Idaho, which are subject to a 5.0% NSR production royalty plus annual payments of US$27,282. The State of Idaho leases include very small portions of both the DeLamar and Florida Mountain deposit resources and reserves.

Kinross had retained a 2.5% NSR that applies to those portions of the DeLamar deposit area claims that are unencumbered by the royalties outlined above. The royalty was subsequently sold to Triple Flag Precious Metals Corp. ("**Triple Flag**"). The Triple Flag royalty applies to more than 90% of the current DeLamar deposit area resources and reserves, but this royalty will be reduced to 1.0% upon Triple Flag receiving total royalty payments of C$10,000,000.

Wheaton Precious Metals (Cayman) Co., a wholly-owned subsidiary of Wheaton, acquired a 1.5% NSR on metal production from all claims of the DeLamar Project, pursuant to a royalty agreement dated February 20, 2024, for an aggregate cash purchase price of US$9.75 million.

Pursuant to a right of first refusal agreement dated May 4, 2023 with Wheaton Precious Metals International Ltd., a subsidiary of Wheaton, Wheaton Precious Metals International Ltd. acquired from Integra a right of first refusal on all future precious metals royalties, streams and pre-pays transactions on all properties owned by Integra.

The DeLamar Project historical open-pit mine areas have been in closure since 2003. While a substantial amount of reclamation and closure work has been completed to date at the site, there remain ongoing water-management activities, monitoring, and reporting. A reclamation bond of US$3,276,078 remains with the IDL and a reclamation bond of US$100,000 remains with the Idaho Department of Environmental

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Year ended December 31, 2025

All amounts in USD unless otherwise stated

Quality. Additional reclamation bonds in the total amount of US$783,053 have been placed with the BLM for exploration activities and groundwater well installation on public lands. There are also reclamation bonds with the IDL in the total amount of US$155,900 for exploration activities on IDL leased lands.

*History*

Total production of gold and silver from the DeLamar Project area is estimated to be approximately 1.3 million ounces ("**oz**") of gold and 70 million ounces of silver from 1891 through 1998, with an additional but unknown quantity produced at the DeLamar mill in 1999. From 1876 to 1891, an estimated 1.025 million ounces of gold and 51 million ounces of silver were produced from the original De Lamar (as it was historically called) underground mine and the later DeLamar open-pit operations. At Florida Mountain, nearly 260,000 ounces of gold and 18 million ounces of silver were produced from the historical underground mines and late 1990s open-pit mining.

Mining activity began in the area of the DeLamar Project when placer gold deposits were discovered in early 1863 in Jordan Creek, a short distance upstream from what later became the town site of De Lamar. During the summer of 1863, the first silver-gold lodes were discovered in quartz veins at War Eagle Mountain, to the east of Florida Mountain, resulting in the initial settlement of Silver City. Between 1876 and 1888, significant silver-gold veins were discovered and developed in the district, including underground mines at De Lamar Mountain and Florida Mountain. A total of 553,000 ounces of gold and 21.3 million ounces of silver were reportedly produced from the De Lamar and Florida Mountain underground mines from the late 1800s to early 1900s.

The mines in the district were closed in 1914, following which very little production took place until gold and silver prices increased in the 1930s. Placer gold was again recovered from Jordan Creek from 1934 to 1940, and in 1938 a 181 tonne-per-day flotation mill was constructed to process waste dumps from the De Lamar underground mine. The flotation mill reportedly operated until the end of 1942. Including Florida Mountain, the De Lamar – Silver City area is believed to have produced about 1 million ounces of gold and 25 million ounces of silver from 1863 through 1942.

During the late 1960s, the district began to undergo exploration for near-surface bulk-mineable gold-silver deposits, and in 1977 a joint venture operated by Earth Resources Corporation ("**Earth Resources**") began production from an open-pit, milling and cyanide tank-leach operation at De Lamar Mountain, known as the DeLamar mine. In 1981, Earth Resources was acquired by the Mid Atlantic Petroleum Company ("**MAPCO**"), and in 1984 and 1985 the NERCO Mineral Company ("**NERCO**") successively acquired the MAPCO interest and the entire joint venture to operate the DeLamar mine with 100% ownership. NERCO was purchased by the Kennecott Copper Corporation ("**Kennecott**") in 1993. Two months later in 1993, Kennecott sold its 100% interest in the DeLamar mine and property to Kinross, and Kinross operated the mine, which expanded to the Florida Mountain area in 1994. Mining ceased in 1998, milling ceased in 1999, and mine closure activities commenced in 2003. Closure and reclamation were nearly completed by 2014, as the mill and other mine buildings were removed, and drainage and cover of the tailing facility were developed.

Total open-pit production from the DeLamar Project from 1977 through 1998, including the Florida Mountain operation, is estimated at approximately 750,000 ounces of gold and 47.6 million ounces of silver, with an unknown quantity produced at the DeLamar mill in 1999. From start-up in 1977 through to the end of 1998, open-pit production in the DeLamar area totaled 625,000 ounces of gold and about 45 million ounces of silver. This production came from pits developed at the Glen Silver, Sommercamp – Regan (including North and South Wahl), and North DeLamar areas. In 1993, the DeLamar mine was operating at a mining rate of 27,216 tonnes (30,000 tons) per day, with a milling capacity of about 3,629 tonnes (4,000 tons) per day. In 1994, Kinross commenced open-pit mining at Florida Mountain while continuing production from the DeLamar mine. The ore from Florida Mountain, which was mined through 1998, was processed at the DeLamar facilities. Florida Mountain production in 1994 through 1998 totaled 124,500 ounces of gold and 2.6 million ounces of silver.

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

Exploration of the DeLamar Project by Integra commenced in 2017. Since then, Integra has carried out geophysical and geochemical exploration programs, geologic mapping and exploration, infill, metallurgical, and geotechnical drilling programs.

*Geological Setting, Mineralization and Deposit Types*

The DeLamar Project is situated in the Owyhee Mountains near the east margin of the mid-Miocene Columbia River–Steens flood-basalt province and the west margin of the Snake River Plain. The Owyhee Mountains comprise a major mid-Miocene eruptive center, generally composed of mid-Miocene basalt flows intruded and overlain by mid-Miocene rhyolite dikes, domes, flows, and tuffs developed on an eroded surface of Late Cretaceous granitic rocks.

Gold-silver mineralization occurred as two distinct but related types: (i) relatively continuous, quartz-filled fissure veins that were the focus of late 19th and early 20th century underground mining, hosted mainly in the basalt and granodiorite and to a lesser degree in the overlying felsic volcanic units; and (ii) broader, bulk-mineable zones of closely-spaced quartz veinlets and quartz-cemented hydrothermal breccia veins that are individually continuous for only a few meters/feet laterally and vertically, and of mainly less than 1.3 centimeters (0.5 inches) in width predominantly hosted in the rhyolites and latites peripheral to and above the quartz-filled fissures. This second style of mineralization was mined in the open pits of the late 20th century DeLamar and Florida Mountain operations, hosted primarily by the felsic volcanic units.

The gold and silver mineralization at the DeLamar Project is best interpreted in the context of the volcanic-hosted, low-sulfidation epithermal model. Various vein textures, mineralization, alteration features, and the low contents of base metals in the district are typical of shallow, low-sulfidation epithermal deposits worldwide.

*Exploration*

Integra commissioned a Light Detection and Ranging topographic survey of the DeLamar and Florida Mountain deposit areas and an induced polarization and resistivity survey of six lines using the Volterra-2DIP distributed array system in the DeLamar deposit area in 2017. In 2018, Integra conducted rock-chip and soil geochemical sampling at the DeLamar deposit area. During 2019 through 2023, Integra and contractor personnel collected 449 rock samples in the DeLamar, Milestone and Florida Mountain areas. Contractor personnel from Rangefront Geological ("**Rangefront**") of Elko, Nevada collected 298 soil samples in the DeLamar/Milestone area in 2019. A total of 2,332 soil samples were collected from the Florida Mountain area by Rangefront in 2019. In 2019, Integra commissioned a helicopter high-resolution magnetic survey of the DeLamar – Florida Mountain area. In 2020, Integra commissioned a further induced polarization and resistivity survey at DeLamar. Integra geologists also carried out geologic mapping at a scale of 1:5,000 in 2020 and 2021. The results of this exploration work have, in part, served to better interpret structure at the DeLamar Project and applied to the estimation of mineral resources in the DeLamar Report.

*Drilling*

As of the effective date of the DeLamar Report, the overall drill hole database contains a total of 383,611 meters in 3,376 holes drilled by Integra and various historical operators at the DeLamar and Florida Mountain areas. The historical drilling was completed from 1966–1998 and includes 2,625 holes for a total of 275,790 meters. Most historical drilling was done using reverse-circulation ("**RC**") and conventional rotary methods. A total of 106 historical holes were drilled using diamond-core ("**core**") methods for a total of 10,845 meters. Approximately 74% of the historical drilling was vertical, including all conventional rotary holes. At DeLamar, a significant portion of the total historical drilling meterage was subsequently mined during the open-pit operations.

Integra commenced drilling in 2018 and, as of the effective date of the DeLamar Report, has drilled a total of 751 holes (RC, core, and Sonic holes) for a total of 107,821 meters in the DeLamar and Florida Mountain areas combined. Integra drilled most of their holes at angles.

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

No drilling activities happened at DeLamar in 2025.

*Sampling, Analysis and Data Verification*

Integra's RC, sonic and core samples were transported by the drilling contractor or Integra personnel from the drill sites to Integra's logging and core cutting facility at the DeLamar mine daily. The RC samples were allowed to dry at the drill sites prior to delivery to the secured logging and core-cutting facility.

The 2018 to 2022 core sample intervals were sawed lengthwise mainly into halves after logging and photography by Integra geologists and technicians in the logging and sample storage area. In some cases, the core was sawed into quarters. Sample intervals of either ½ or ¼ core were placed in numbered sample bags, and the remainder of the core was returned to the core box and stored in a secure area on site. Core sample bags were closed and placed in a secure holding area awaiting dispatch to the analytical laboratory.

All of Integra's rock, soil and drilling samples were prepared and analyzed at American Assay Laboratories in Sparks, Nevada. AAL is an independent commercial laboratory accredited effective December 1, 2020, to the ISO/IEC Standard 17025:2017 for testing and calibration laboratories.

The drilling samples were transported from the DeLamar mine logging and sample storage area to AAL by Integra's third-party trucking contractor.

The soil samples were screened to -80 mesh for multi-element analysis at AAL. RESPEC has no other information on the methods and procedures used for the preparation of Integra's soil and rock samples.

Coarse blank material commercially produced CRMs, RC field duplicates, and coarse-reject (or preparation) duplicates were inserted into the drill-sample streams as part of Integra's quality assurance and quality control procedures. The blank material consisted of coarse fragments of basalt, and a blank was inserted approximately every 10th sample. Commercial CRMs were inserted as pulps at a frequency of approximately every 10th sample. The lab was requested to prepare and analyze a coarse-reject duplicate for every 22nd primary sample analyzed during the sonic drilling program of 2022 and 2023.

*Mineral Processing and Metallurgical Testing*

Metallurgical testing by Integra—generally conducted at McClelland Laboratories ("**McClelland**") from 2018–2023 and further testing by Forte Analytical LLC in 2024—has been used to select preferred processing methods and estimate recoveries for oxide and transitional mineralization from both the DeLamar and Florida Mountain deposits. Samples used for this testing, primarily drill hole composites from 2018–2023 Integra drilling, were selected to represent the various material types contained in the current resources of both the DeLamar and Florida Mountain deposits. Integra selected the composites to evaluate effects of area, depth, grade, oxidation, lithology, and alteration on metallurgical response.

Bottle-roll and column-leach cyanidation testing on drill core composites from both the DeLamar and Florida Mountain deposits and on bulk samples from the DeLamar deposit has shown that the oxide and transitional material types from both deposits can be processed by heap-leach cyanidation. These materials generally benefit from relatively fine crushing to maximize heap-leach recoveries and a feed size of 80% -19-millimeter was selected as optimum. Expected heap-leach gold recoveries for the oxide mineralization from both deposits (DeLamar and Florida Mountain) are consistently high (71–89%). Heap leach gold recoveries for the transitional mineralization are expected to average 73% for Florida Mountain and range from 37–88% for the DeLamar deposit. Heap leach silver recoveries are expected to average 30% from the Florida Mountain oxide and 31% from the Florida Mountain transitional materials. Expected heap-leach silver recoveries from the DeLamar material are highly variable (6–44%), but generally low. None of the Florida Mountain heap-leach material is expected to require agglomeration. Because of elevated clay content, a significant portion of the DeLamar oxide and transitional mineralization will require agglomeration pretreatment using cement.

Both Florida Mountain and DeLamar oxide and transitional ore types have been shown to be amenable to conventional cyanide leaching with two-stage crushing providing economic enhanced metal recovery.

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

Material will be crushed in two stages to a nominal size of 80% finer than (P80) 19-millimeter at a rate of 35,000 tonnes per day. The DeLamar Project has two heap leach facilities to balance early capital efficiency with operational flexibility, allowing for staged commissioning while managing particle fines and agglomeration risk across distinct ore domains.

Run-of-mine ore will be transferred from the pits via haul trucks to their respective heap leach pads for two-stage crushing at a rate of 35,000 tonnes per day before stacking. The crushing circuit consists of a primary mineral sizer and secondary low-pressure roll crusher, reducing the particle size of run-of-mine ore to a P80 (particle size at which 80% of the sample material passes) of approximately 19 millimeters. Abrasion and impact testing supported the selection of crushing equipment. The crushed ore from the Florida Mountain deposit contains limited fines and does not require agglomeration, making it suitable for direct truck dump stacking following two-stage crushing. Approximately 45% of the crushed ore from the DeLamar deposit pit contains enough fines and clay that it requires agglomeration through a screening and agglomeration circuit followed by curing and conveyor stacking. To minimize operating complexity, screening and selective agglomeration are applied only where required while protecting permeability and recovery performance.

To reduce truck haulage requirements, one heap leach pad will be located adjacent to the Florida Mountain deposit, and the other will be located adjacent to the DeLamar deposit. Heaps leach pads will be stacked at a rate of 35,000 tonnes per day via truck stacking of the Florida Mountain heap leach pad and a system of overland, grasshopper conveyors, and a radial stacker at the DeLamar heap leach pad. Cyanide solution will be applied to the heap leach pad(s) and processed via a Merrill Crowe facility located near the DeLamar deposit heap leach pad designed for a throughput of approximately 1,360 m<sup>3</sup> per hour. To reduce initial capital requirements, the filter cakes will be processed into doré bars at Integra's Florida Canyon Mine refinery. The Florida Canyon facility will require retrofit of parallel or larger equipment to process DeLamar Project doré and is accounted for in capital cost for the DeLamar Project.

*Mineral Resources*

Mineral resources have been estimated for both the Florida Mountain and DeLamar areas of the DeLamar Project. The in situ gold and silver resources were modeled and estimated by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Evaluating the drill data statistically and spatially to determine natural gold and silver populations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Creating low-, medium-, and high-grade mineral-domain polygons for both gold and silver on sets of cross sections spaced at 30-meter intervals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Projecting the sectional mineral-domain polygons horizontally to the drill data within each sectional window.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Slicing the three-dimensionally projected mineral-domain polygons along 6-meter-spaced horizontal planes at the DeLamar area and 8-meter-spaced planes at Florida Mountain and using these slices to rectify the gold and silver mineral-domain polygons on a set of level plans for each resource area.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Coding a block model to the gold and silver mineral domains for each of the two deposit areas using the level-plan mineral-domain polygons.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Analyzing the modeled mineralization geostatistically to aid in the establishment of estimation and classification parameters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Interpolating gold and silver grades by inverse-distance to the third power into 6 x 6 x 6-meter blocks for the DeLamar area and 6 x 8 x 8-meter blocks at Florida Mountain, using the coded gold and silver mineral-domain percentages to explicitly constrain the grade estimations.

The estimate of stockpile resources—comprised of historically mined but not processed materials—was modeled similarly to the in-situ resources, but solids or closely spaced long sections were used instead of level plans.

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**Annual Information Form**

Year ended December 31, 2025

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The DeLamar Project mineral resources to reflect potential open-pit extraction and potential processing by a variety of methods: by crushing and heap leaching of oxide and transition materials at DeLamar and Florida Mountain; by grinding, flotation, ultra-fine regrind of concentrates, and Albion cyanide-leach processing of the reground concentrates for the sulfide materials at DeLamar; and by grinding, flotation, ultra-fine regrind of concentrates, and agitated cyanide-leaching of sulfide materials at Florida Mountain. To meet the requirement of having reasonable prospects for eventual economic extraction by open-pit methods, the qualified person ran pit optimizations for the DeLamar and Florida Mountain areas using the parameters summarized in Table 1 and Table 2. The qualified person used the resulting pits to constrain the DeLamar Project resources.

**Table 1: Resource Pit Optimization Cost Parameters**

![image8a.jpg](image8a.jpg)

*Note: DLM = DeLamar In-situ; FM = Florida Mountain In-situ; GS = Glen Silver; SC = Summer Camp; SW = South Wales; SG = Sulivan Gulch; NDLM = North DeLamar; SOM = Sommercamp; DM #1 = Waste Dump 1 stockpile; DM # =: Waste Dump 2 stockpile; JG = Jacob's Gulch Stockpile; TT = TipTop Stockpile*

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Year ended December 31, 2025

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**Table 2: Resource Pit Optimization Metal Recoveries**

![image5a.jpg](image5a.jpg)

The in-pit resources were further constrained by a gold-equivalent cutoff of 0.17 g/t applied to all in-situ model blocks lying within the optimized pits that are coded as oxide or transitional, a 0.1 g/t gold-equivalent cutoff applied to all stockpile material, a 0.3 g/t gold-equivalent cutoff applied to all in-situ blocks coded as sulfide at DeLamar, and a 0.2 g/t cutoff applied to all in-situ blocks coded as sulfide at Florida Mountain. Gold-equivalent grades were used solely for the purpose of applying the resource cutoffs. They are a function of metal prices (Table 1) and metal recoveries, with the recoveries varying by deposit and oxidation state (Table 2).

The total Florida Mountain and DeLamar resources are summarized in Table 3.

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

**Table 3: Total DeLamar Project Gold and Silver Resources**

![image6a.jpg](image6a.jpg)

*Notes:*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.*Mineral resources that are not mineral reserves do not have demonstrated economic viability.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.*Jeffrey Bickel, C.P.G. and Senior Geologist for RESPEC, is a qualified person as defined in NI 43-101 and is responsible for reporting mineral resources in the DeLamar Report. Mr. Bickel is independent of Integra.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.*In consideration of potential open-pit mining and heap-leach processing, in-Situ oxide/transition mineral resources are reported at a 0.17 g AuEq/t cut-off, and stockpile mineral resources are reported at a 0.1 g AuEq/t cut-off.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.*Sulfide mineral resources are reported at a 0.3 g AuEq/t cut-off at DeLamar and 0.2 g AuEq/t at Florida Mountain in consideration of potential open pit mining and grinding, flotation, ultra-fine regrind of concentrates, and either Albion or agitated cyanide-leaching of the reground concentrates.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.*The mineral resources are constrained by pit optimizations.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.*Gold equivalent grades were calculated using the metal prices and recoveries presented in Table 1 and Table 2.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.*Rounding as required by reporting guidelines may result in apparent discrepancies between tonnes, grades, and contained metal content.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.*The effective date of the mineral resources is December 8, 2025.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.*The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.*

The DeLamar Project indicated and measured mineral resources include the entirety of the mineral reserves for the DeLamar Project. The mineral reserve statement has an effective date of December 8, 2025. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

*Mineral Reserves*

The estimated mineral resources presented in the DeLamar Report were classified in order of increasing geological and quantitative confidence into inferred, indicated, and measured categories to be in accordance with the "CIM Definition Standards - For Mineral Resources and Mineral Reserves" and

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**Annual Information Form**

Year ended December 31, 2025

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therefore NI 43-101. Mineral resources are reported at cutoffs that are reasonable for deposits of this nature given anticipated mining methods and plant processing costs, while also considering economic conditions, because of the regulatory requirements that a mineral resource exists "in such form and quantity and of such a grade or quality that it has reasonable prospects for eventual economic extraction."

The DeLamar Project's mineral reserves were developed by applying relevant economic criteria to define the economically extractable portions of the mineral resource. CIM standards require that modifying factors be used to convert mineral resources to reserves.

The qualified person used measured and indicated mineral resources as the basis to define mineral reserves for both the DeLamar and Florida Mountain deposits. Mineral reserve definition was done by first identifying ultimate pit limits using economic parameters and pit optimization techniques. The resulting optimized pit shells were then used for guidance in pit design to allow access for equipment and personnel. The qualified person then considered various factors—including mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social, and governmental aspects—for defining the estimated mineral reserves.

The economic parameters and cutoff grades are based on variable processing costs ranging from $3.26-$5.30/tonne, and metallurgical recoveries ranging from 45%-95% for Au and 15%-92% for Ag. The pit optimizations also used a G&A cost of $0.65/tonne, pad replacement cost of $1.00/tonne for heap-leach material, and refining costs of $5.00/oz for Au and $0.50/oz for Ag.

The overall leaching process rate is planned to be 35,000 tonnes (38,581 tons) per day or 12,450,000 tonnes (13,726,776 tons) per year for both Florida Mountain and DeLamar oxide and transitional material.

The cutoff grades are variable because of the variable processing costs and variable recoveries. Royalties are built into the block values and are considered when determining whether to process the material.

The mineral reserves are constrained by pit optimizations using a price of $2,000/oz Au, a price of $25/oz Ag, and a mining cost of $2.50/tonne.

Total proven and probable reserves for the DeLamar Project from all pit phases are 119,972,000 tonnes at an average grade of 0.32 g Au/t and 13.20 g Ag/t, for 1,259,000 ounces of gold and 52,305,000 ounces of silver (Table 4). The mineral reserves point of reference is the point where material is fed into the crusher at the leach pad.

**Table 4: Total Proven and Probable Reserves, DeLamar and Florida Mountain**

![imagea.jpg](imagea.jpg)

*Notes:*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.*All estimates of mineral reserves have been prepared in accordance with NI 43-101 standards and are included within the current measured and indicated mineral resources.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.*Sterling K, Watson, P.Eng., of RESPEC Company LLC of Reno, Nevada, is a qualified person as defined in NI 43-101 and is responsible for reporting mineral reserves for the DeLamar Project. Mr. Watson is independent of Integra.* 

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.*Mineral reserves are based on prices of $2,000/oz Au and $25/oz Ag. The mineral reserves were defined based on pit designs that were created to follow optimized pit shells created in Whittle. Pit designs followed pit slope recommendations provided by RESPEC.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.*Mineral reserves are reported using block value cutoff grades representing the cost of processing.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.*The mineral reserves are constrained by pit optimizations using a price of $2,000/oz Au, a price of $25/oz Ag, mining cost of $2.50/tonne (including rehandle), variable processing costs ranging from $3.26-$5.30/tonne, and metallurgical recoveries ranging from 45%-95% for Au and 15%-92% for Ag. The pit optimizations also used a G&A cost of $0.65/tonne, pad replacement cost of $1.00/tonne for heap-leach material, and refining costs of $5.00/oz for Au and $0.50 for Ag.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.*Energy prices of US$3.50 per gallon of diesel.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.*Pit optimizations were run on a range of prices from $500/oz Au to $3,000/oz Au.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.*The cut-off grade for mineral reserves is based on economics at a "break-even internal" cut-off grade for the deposits.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.*The mineral reserves point of reference is the point where material is fed into the crusher.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.*All ounces reported herein represent troy ounces; "g/t Au" represents grams per tonne gold; "g/t Ag" represents grams per tonne silver.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.*Measured and indicated mineral resources reported are inclusive of mineral reserves.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.*Rounding as required by reporting guidelines may result in apparent discrepancies between tonnes, grades, and contained metal content.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.*The estimate of mineral reserves may be materially affected by geology, environment, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.*The effective date of the Mineral Reserves estimate is December 8, 2025.*

*Mining Operations*

The DeLamar Report considers open-pit mining of the DeLamar and Florida Mountain gold-silver deposits. Mining will utilize two 22-m<sup>3</sup> hydraulic shovels along with one 14 m<sup>3</sup> loader to load 136-tonne capacity haul trucks. A total of 17 haul trucks are required to maintain the production schedule. The haul trucks will haul development rock and ore out of the pit to rock storage locations and the ore crushing facility.

Development rock material will be stored in development-rock storage facilities located near each of the Florida Mountain and DeLamar deposits, as well as backfilled into pits where available.

Production scheduling was completed using Geovia's MineSched™ (version 2025) software. Proven and probable reserves along with waste material inside pit designs previously discussed were used to schedule mine production. The production schedule considers the processing of DeLamar and Florida Mountain oxide and transitional material by crushing and heap leaching, with some of the DeLamar material requiring agglomeration prior to leaching.

*Processing and Recovery Operations*

Metallurgical testing by Integra—generally conducted at McClelland from 2018–2023 and further testing by Forte Analytical LLC in 2024—has been used to select preferred processing methods and estimate recoveries for oxide and transitional mineralization from both the DeLamar and Florida Mountain deposits. Samples used for this testing, primarily drill hole composites from 2018–2023 Integra drilling, were selected to represent the various material types contained in the current resources of both the DeLamar and Florida Mountain deposits. Integra selected the composites to evaluate effects of area, depth, grade, oxidation, lithology, and alteration on metallurgical response.

Bottle-roll and column-leach cyanidation testing on drill core composites from both the DeLamar and Florida Mountain deposits and on bulk samples from the DeLamar deposit has shown that the oxide and transitional material types from both deposits can be processed by heap-leach cyanidation. These materials generally benefit from relatively fine crushing to maximize heap-leach recoveries and a feed size of 80% -19mm was selected as optimum. Expected heap-leach gold recoveries for the oxide mineralization from both deposits (DeLamar and Florida Mountain) are consistently high (71–89%). Heap leach gold recoveries for the transitional mineralization are expected to average 67% for Florida Mountain and range from 44–72% for the DeLamar deposit. Heap leach silver recoveries are expected to average 36% from the Florida Mountain oxide and 39% from the Florida Mountain transitional materials. Expected heap-leach silver recoveries from the DeLamar material are highly variable (11–52%), but generally low.

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None of the Florida Mountain heap-leach material is expected to require agglomeration. Because of elevated clay content, a significant portion of the DeLamar oxide and transitional mineralization will require agglomeration pretreatment using cement.

Both Florida Mountain and DeLamar oxide and transitional ore types have been shown to be amenable to conventional cyanide leaching with two-stage crushing providing economic enhanced metal recovery. Material will be crushed in two stages to a nominal size of 80% finer than (P80) 19-millimeter at a rate of 35,000 tonnes per day. The project has two heap leach facilities to balance early capital efficiency with operational flexibility, allowing for staged commissioning while managing particle fines and agglomeration risk across distinct ore domains.

Run-of-mine ore will be transferred from the pits via haul trucks to their respective heap leach pads for two-stage crushing at a rate of 35,000 tonnes per day before stacking. The crushing circuit consists of a primary mineral sizer and secondary low-pressure roll crusher, reducing the particle size of run-of-mine ore to a P80 (particle size at which 80% of the sample material passes) of approximately 19 millimeters. Abrasion and impact testing supported the selection of crushing equipment. The crushed ore from the Florida Mountain deposit contains limited fines and does not require agglomeration, making it suitable for direct truck dump stacking following two-stage crushing. Approximately 45% of the crushed ore from the DeLamar deposit pit contains enough fines and clay that it requires agglomeration through a screening and agglomeration circuit followed by curing and conveyor stacking. To minimize operating complexity, screening and selective agglomeration are applied only where required while protecting permeability and recovery performance.

To reduce truck haulage requirements, one heap leach pad will be located adjacent to the Florida Mountain deposit, and the other will be located adjacent to the DeLamar deposit. Heaps leach pads will be stacked at a rate of 35,000 tonnes per day via truck stacking of the Florida Mountain heap leach pad and a system of overland, grasshopper conveyors, and a radial stacker at the DeLamar heap leach pad. Cyanide solution will be applied to the heap leach pad(s) and processed via a Merrill Crowe facility located near the DeLamar deposit heap leach pad designed for a throughput of approximately 1,360 m<sup>3</sup> per hour. To reduce initial capital requirements, the filter cakes will be processed into doré bars at Integra's Florida Canyon Mine refinery. The Florida Canyon facility will require retrofit of parallel or larger equipment to process DeLamar Project doré and is accounted for in capital cost for the DeLamar Project.

*Infrastructure, Permitting and Compliance Activities*

<u>Project Infrastructure</u>

To minimize initial capital, Integra's infrastructure strategy for the DeLamar Project prioritizes refurbishment and targeted upgrades wherever possible—while maintaining reliability and construction schedule. The historical DeLamar mine operated as a fully serviced site until 1998, after which the owners completed limited remediation. The historical mine is in ongoing care and maintenance, and several facilities and infrastructure elements remain in place. Where it's possible to maintain alignment with the planned mining fleet and operational profile, Integra will refurbish or augment those existing facilities and infrastructure. Where needed, Integra will construct new infrastructure to meet safety, capacity, or operational performance requirements.

The existing water treatment plant will be upgraded and augmented to meet applicable regulations for treatment and surface water discharge. On-site facilities will be selectively upgraded. The existing ten-bay mobile maintenance shop will be upgraded to eleven-bays large enough to accommodate 136-tonne series haul trucks. The administration building will be refurbished, and site communications infrastructure and power distribution network will be enhanced. To limit the need to construct new roads, existing site roads will be rehabilitated and upgraded as practicable. New construction requirements include a Merrill Crowe plant, two-stage crushing circuit, heap leach facilities, truck wash, laboratory, warehouse, and additional water management and power infrastructure.

Figure 1 shows the DeLamar Project's general arrangement including mining, process, ancillary facilities, and key infrastructure.

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![image1a.jpg](image1a.jpg)

**Figure 1: General Site Layout**

<u>Environmental Studies, Permitting, and Social or Community Aspects</u>

The DeLamar Project received a "completeness determination" from the BLM and has completed environmental resource baseline studies to support project environmental effects analysis under NEPA. Construction and operation of the project require further permitting, which Integra will continue to actively advance in 2026 and 2027 through parallel U.S. Federal, State of Idaho, and Owyhee County permitting processes that address mine reclamation, air and water quality, wetland impacts, and cyanidation.

In accordance with the BLM's mandate to prevent undue environmental degradation on public lands, Integra's project design optimization has continued to focus on the reduction of environmental impacts and surface disturbance of the mine operation through a leaching-focused process, consolidation of development rock storage facilities, and the design of heap leach facilities in proximity to the open pits. Through various studies conducted over the years, the proposed mine footprint has been reduced by ~25%. During the NEPA process, Integra will continue this optimization through the evaluation of agency-proposed alternatives and mitigations to deliver a robust mine operation that is protective of water resources, air quality, cultural resources, wildlife, and vegetation, as well as post-mine land use.

*Capital and Operating Costs*

Table 5 summarizes the estimated capital costs of the DeLamar Project. The LOM total capital cost is estimated as $747.5 million, including $389.1 million in preproduction capital (including working capital and reclamation bond) and $304.9 million for expansion and sustaining capital. Sustaining capital includes $53.5 million in reclamation costs. The estimated capital costs include sales tax; engineering, procurement, and construction management ("**EPCM**"); and contingency.

Table 6 shows the estimated LOM operating costs for the project. Operating costs are estimated to be $10.52 per tonne processed for the LOM. During the active mining years 1–10 the total site costs are

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$9.92 per tonne. The total cash cost is estimated to be $1,179 per ounce of gold equivalent and site level all-in sustaining costs are estimated to be $1,480 per ounce of gold equivalent.

**Table 5: Capital Cost Summary**

![image2a.jpg](image2a.jpg)

*Notes:* 

1.*Assumes financing of mobile equipment. Pre-production = 10% cash down and one year of payments.*

2.*Includes $9.6M in pre-stripping.*

3.*Overall contingency of 12% (mining 5%, processing 13%, G&A 17%).*

4.*Includes $26.4 M for ongoing water treatment post mine closure.*

**Table 6: Operating and Total Cost Summary**

![image3a.jpg](image3a.jpg)

*Notes:* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.*Royalties are detailed in Section 22 of the DeLamar Report.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.*Closure costs for all-inclusive sustaining cost ("****AISC****") calculation exclude ongoing water treatment reclamation costs.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.*LOM unit costs are calculated using costs from year 1 through year 12 with tonnages from year 1 through year 10. Year -1 costs are capitalized and included in the capital cost estimate.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.*LOM unit cost during operations (year 1 through year 10) equals $9.92/tonne with a total cost of $1,164.5 million.*

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*Economic Analysis*

The results of this feasibility study included in the DeLamar Report outlines total production of 1.1 Moz AuEq over a 10-year operating mine life (plus five years of residual leaching) from an average annual production profile of 106 koz AuEq per annum at a co-product mine-site AISC of $1,480/oz. The DeLamar Project generates an after-tax NPV5% of $774 M with an after-tax IRR of 46% at base case metal prices of $3,000/oz for gold and$35/oz for silver.

A summary of the feasibility study parameters and economic indicators are shown in Table 7.

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**Table 7: Economic Analysis Summary**

![image7a.jpg](image7a.jpg)

*Notes:*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.*Gold equivalent ("****AuEq****") calculated using base case metal prices of $3,000/oz Au and $35/oz Ag.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.*Assumes mobile equipment financing.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.*Closure costs include $26.4 million ongoing water treatment reclamation liability.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.*LOM total site operating cost ($/t processed) for operating Year 1 to Year 10 is $9.92/t.*

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*Exploration, Development and Production*

The Corporation is advancing permitting and construction readiness at the DeLamar Project. Near-term priorities include advancing detailed engineering and execution planning. The construction and operation of the DeLamar Project require further permitting which will continue to actively advance in 2026 and 2027 through parallel U.S. Federal, State of Idaho, and Owyhee County permitting processes that address mine reclamation, air and water quality, wetland impacts and cyanidation.

The BLM has established a federal permitting schedule under NEPA for the DeLamar Project, which contemplates a NOI be obtained in the second quarter of 2026 followed by an anticipated 15-month NEPA review period, culminating in the issuance of an EIS and ROD anticipated in the third quarter of 2027. As part of this process, the Corporation will be working with applicable agencies on a public scoping process to identify issues and concerns associated with the DeLamar Project, which will guide the development of reasonable alternatives designed to minimize adverse effects and prevent undue degradation. Following the scoping process, an environmental impact analysis of the DeLamar Project and a reasonable range of alternatives will be undertaken, culminating in preparation of the EIS. While the EIS is underway, the Corporation will work with U.S. Federal, State of Idaho, and Owyhee County agencies to advance various permits required prior to construction and operation. In the EIS and accompanying ROD, the BLM will identify a Preferred Alternative and any mitigation measures required for DeLamar Project implementation. This mitigation is expected to include continued engagement with Tribal Nations and the development of a Programmatic Agreement, a formal framework established among the Corporation, governmental agencies, and Tribal Nations to identify, manage, and mitigate potential impacts to culturally sensitive areas and historic properties. Following completion of the NEPA process, a final revised Mine Plan of Operations will be prepared that incorporates the Preferred Alternative and all required mitigation measures.

The DeLamar Project has been selected for inclusion in the United States Federal Permitting Improvement Steering Council FAST-41 Transparency Projects Program. The FAST-41 Transparency Projects Program is a federal permitting framework designed to improve interagency coordination and increase transparency.

**NEVADA NORTH PROJECT**

The scientific and technical information contained in this AIF relating to the Nevada North Project is supported by the technical report regarding the Nevada North Project prepared for the Company and entitled "NI 43-101 Technical Report Preliminary Economic Assessment for the Wildcat and Mountain View Projects, Pershing and Washoe Counties, Nevada, USA" dated July 30, 2023 (with an effective date of June 28, 2023) (the "**Nevada North Report**") prepared by William J. Lewis, P.Geo., Richard Gowans, P.Eng., Christopher Jacobs, CEng, MIMMM, Andrew Hanson, P.E., Deepak Malhotra, Ph.D. and Ralston Pedersen, P.E., who are each a "qualified person" and independent" of the Company within the meaning of NI 43-101. Reference should be made to the full text of the Nevada North Report, which is available under Integra's SEDAR+ profile at <u>www.sedarplus.ca</u> and EDGAR profile at <u>www.sec.gov</u>.

Where appropriate, certain information contained in this AIF updates information derived from the Nevada North Report. Any updates to the technical information derived from the Nevada North Report and any other technical information contained in this AIF was prepared by or under the supervision of James Frost, P.Eng., the Company's Director, Technical Services, and a qualified person within the meaning of NI 43-101.

The Nevada North Report is not and shall not be deemed to be incorporated by reference in this AIF.

*Project Description, Location and Access*

The Wildcat and Mountain View deposits (collectively, the "**Nevada North Project**") comprise certain patented and unpatented lode claims located in northern Nevada, United States of America. Both deposits are located northeast of Reno, which is the nearest large city. The Wildcat deposit is located in

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Pershing County and the Mountain View deposit is located in Washoe County. The two deposits are located approximately 40 miles (65 km) from one another and Integra plans to combine the two deposits and operate them sequentially as one continuous project.

<u>Wildcat</u>

The Wildcat deposit is located on the northeastern portion of the Seven Troughs Range, about 35 miles northwest of the town of Lovelock in Pershing County, Nevada. The Wildcat deposit is accessible from the city of Reno, Nevada, via both paved and dirt roads. Access is primarily via Interstate 80 to the town of Lovelock, approximately 91 miles from Reno. State Route 398 from Lovelock is followed (1 mile) to the intersection with State Route 399. After 12 miles, Route 399 reaches the intersection with a good-condition dirt road, which runs to the northwest. After approximately 15.6 miles, there is an intersection with a dirt road, in regular driving condition. The Wildcat deposit is located 4.7 miles after the intersection of this dirt road.

The deposit is located in all or portions of: sections 32-36, T32N, R29E; sections 1 and 12 of T31N, R28E; sections 1-36 of T31N, R29E; and sections 4 and 5 of T30N, R29E, Mount Diablo Baseline and Meridian. The latitude and longitude of the Wildcat deposit are 40.5425° N, 118.7550° W and the Wildcat deposit is at an elevation of approximately 6,299 ft.

The Wildcat deposit consists of 4 patented lode claims (the "**Fee Tracts**") and 916 unpatented lode claims. The total area is 17,612 acres. The claims are on publicly owned lands administered by the BLM. All of the claims are located in Pershing County in northwest-north-central Nevada. The maintenance fee of $183,200 has been paid, and the federal fee requirements were met for each of the claims for the assessment year ending on August 31, 2026.

According to federal and state regulations, the lode claims are renewed annually. In order to keep the claims current, a 'Notice of Intent to Hold' and payments are filed with the BLM and the counties. Tenure is unlimited, as long as filing payments are made each year.

The mineral claims comprising the Nevada North Project were originally purchased from Clover Nevada Limited Liability Company ("**Clover Nevada**") a subsidiary of Waterton Precious Metals Fund II Cayman, LP ("**Waterton**"). On April 29, 2021 all rights were assigned to Millennial NV Limited Liability Company ("**Millennial NV**").

The Wildcat mineral claims are currently owned 100% by Millennial NV, which is a subsidiary of Integra.

According to certain title opinions, the following royalties apply to the Wildcat deposit:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Clover Nevada reserved a NSR (the "**Clover Royalty**"), payable by Millennial NV and its successors, applicable to any sale of gold (and only gold) from the Original Properties (see Nevada North Report). The amount of the Clover Royalty is 0.5%. The Clover Royalty runs with the Original Properties (which includes the Mountain View deposit) and covers any amendments, relocations, replacements, modifications or conversions of the Original Properties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1.0% NSR on the SS claims. This royalty is held of record by RG Royalties, LLC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Scaled royalty (0.0% to 2.0%) on the Fee Tracts. The royalty is held of record by RG Royalties, LLC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 0.4% NSR on Tag #15 through Tag #18 claims. This royalty is held by Raymond Wittkopp.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• US$500,000 production payment on the SS claims and the Tag and Easter claims (as defined in the Nevada North Report). This royalty is held by Monex Explorations.

On June 21, 2023, Integra announced that it had received notice from Royalty Consolidation Company, Limited Liability Company, a private company controlled by Waterton of the sale of 100% of its existing royalty interests in the Nevada projects (including the Nevada North Project) to a wholly owned subsidiary of Franco-Nevada Corporation ("**Franco-Nevada**"). The transaction closed on June 15, 2023. No new royalties on the Nevada projects (including the Nevada North Project) were granted as part of the

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transaction between Waterton and Franco-Nevada and no net proceeds from the sale will be recognized by Integra.

<u>Mountain View</u>

The Mountain View deposit is located in northwest Nevada, United States of America, near the Granite Range, at a latitude and longitude of 40.8314° N and 119.5027° W and at an approximate elevation of 5,000 ft. The Mountain View deposit is easily accessed from Reno, via 124 miles of paved routes and 2.8 miles of good condition dirt roads. Access is primarily via Intestate Highway 80 up to the intersection with paved state route 447, located 33 miles east of Reno. State route 477 runs north for 75 miles, to the town of Gerlach. At Gerlach, State Route 447 turns to the northeast and at 17.6 miles, once the Granite Mountain Reservoir (formerly the Squaw Valley Reservoir) is reached, there is a junction with a dirt road that runs to the northwest. This dirt road is generally in good driving condition up to the Mountain View deposit, which is located at 2.8 miles from the intersection with the paved route.

The Mountain View deposit lies approximately 15 miles northwest of Gerlach, Nevada in Washoe County. The Mountain View deposit straddles the boundary between the Squaw Valley and Banjo topographic quadrangles.

The Mountain View deposit currently consists of 284 unpatented lode claims with a total area of approximately 5,476 acres. Millennial NV has provided Micon with copies of the mining claim maintenance fee filings, affidavits and notices of intent to hold mining claims, as filed with the BLM. The maintenance fee of $56,800was paid, and that the federal fee requirements were met for each of the claims for the assessment year ending on August 31, 2026.

According to federal and state regulations, the lode claims are renewed annually. In order to keep the claims current, a 'Notice of Intent to Hold' and payments are filed with the BLM and the counties. Tenure is unlimited as long as filing payments are made each year. The land on which the claims are located is administered by the BLM.

The mineral claims were originally purchased from Clover Nevada a subsidiary of Waterton. On April 29, 2021, all rights were assigned to Millennial NV, a subsidiary of Integra.

The ownership of the claims listed in the fee filings is in the name of Millennial NV and Leslie Wittkopp. Currently Millennial NV owns 100% interest in the Mountain View deposit.

In a lease/option agreement dated June 30, 2000 (the "**Wittkopp Lease**"), the vendor leased all interest in the Mountain View, Jack (except Jack 67A and Jack 77R) and the Harlan claims to Franco-Nevada. The initial term was for 10 years, with five additional 10-year terms, expiring on June 30, 2060. The Wittkopp Lease requires that the lessee pay a NSR of 1.0% on minerals produced from the Harlan and the Jack claims and an NSR of 0.1% on minerals produced from the Mountain View claims. The Wittkopp Lease grants the lessee a preferential purchase right if the Wittkopp's wish to sell or otherwise transfer the Wittkopp Lease royalty (except in the case of the death of Mr. or Mrs. Wittkopp).

The Wittkopp Lease contains an area of interest provision, such that any new mining claims staked by the lessee or lessor within one-half mile of the initial leased claims are subject to the lease agreement, including the NSR at a rate of 1.0.0%. However, there is no specific provision for a claim partly inside and partly outside the specified area.

In addition to any royalties noted above, according to certain title opinions, the following royalties apply to the Mountain View deposit:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1.0% NSR on the Jack Claims. This royalty is held of record by Franco-Nevada.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 1.5% NSR held by Triple Flag.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Clover Nevada reserved an NSR, payable by Millennial NV and its successors, applicable to any sale of gold (and only gold) from the Original Claims (see Nevada North Report). The amount of the Clover Nevada royalty is 0.05%, not subject to proportionate reduction as to production from

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the Mountain View Claims and 0.5%, not subject to proportionate reduction, as to production from the Jack Claims, the Harlan Claims and the Rich Claims held of record by RG Royalties, LLC.

*History*

<u>Wildcat</u>

The history of the property and district has been taken directly from internal documents belonging to a prior property-holder, Lac Minerals (USA) Limited Liability Company ("**Lac Minerals**"). Mining began in the early 1900's and concentrated on epithermal quartz veins hosted within Cretaceous granodiorite. Production was small but high-grade, at less than 100,000 short tons with a grade in excess of one ounce per short ton (oz/st) gold. The patented claims on the Wildcat deposit were located in 1906 and 1907 and patented in May, 1912 by the Seven Troughs Monarch Mines Company. Surface cuts were taken on three main surface veins: Hero, Hillside and Wildcat. An 1,800 foot ("**ft**") tunnel was completed in 1912 to intersect these veins at the 300 ft to 400 ft level. The veins were reported barren, but were wider than projected (Tullar, 1992).

Monex Explorations ("**Monex**") purchased five unpatented lode claims around 1980 and worked the Tag mine intermittently. Homestake Mining Company ("**Homestake**") took an interest in the hydrothermally altered volcanic cap northwest of the Wildcat mine area in 1982 and drilled three core holes in 1983. Based on these holes Homestake retained an interest in the property between 1984 and 1990.

Touchstone Resources Company Inc. ("**Touchstone**"), an exploration subsidiary of Cornucopia Resources Ltd., leased the property from Homestake in 1983. Touchstone completed a 30-hole, 6,260 ft program of reverse circulation drilling in 1984. Although Touchstone reportedly developed an "inferred reserve" of 21 million short tons grading 0.021 oz/st gold at a 1.1:1 stripping ratio (Tullar, 1992), Touchstone dropped the property in 1985. Homestake drilled one 400 ft core hole to cover the 1986/1987 assessment requirement. Kincaid Exploration and Mining Co. II ("**Kemco**") optioned the claims in 1987 and completed a 35-hole, 6,150 ft reverse circulation drilling program in the same year. Kemco dropped the property in 1988, when the Star Valley Resources/Pactolus Corporation optioned the Homestake ground, along with the Monex ground. During 1989, the Star Valley Resource/Pactolus Corporation partnership completed 12 reverse circulation drill holes totalling 3,280 ft. The partnership dropped its interest in 1989. Homestake sold its interest in the property to Monex in 1990 but retained an underlying NSR interest. Amax optioned the property in 1991 and completed a single 500 ft reverse circulation drill hole.

Lac Minerals acquired the Wildcat deposit in 1992 and conducted a significant amount of exploration mapping, sampling, geophysics and the majority of the drilling on the property. In the process, it identified a large, low-grade gold resource. Sagebrush Exploration worked on the property during the period of 1996-1998 and completed some reverse circulation drilling on the property.

<u>Mountain View</u> 

The Mountain View deposit is located in the Deephole mining district and includes the old Mountain View mine, located approximately 8,000 ft north of the Severance zone. The Mountain View vein zone averaged about 15 ft in width and cut PermoTriassic metasediments near the contact with the Granite Range batholith. The mine was originally explored from underground by the Anaconda Company in 1938, under option from the original claimants. However, no commercial mineralization was defined.

From 1939 to 1941, the Burm-Ball Co. optioned the property and produced some gold ore from a winze sunk from the main (lower) adit level. Production was said to be 1,480 ounces of gold, 6,668 oz of silver, 11,000 pounds (lbs) of copper and 6,400 lbs of lead, mostly prior to 1940 (WGM, 1997). This production was followed by intermittent unsuccessful attempts to rework the mine, most recently in 1961 and 1962.

There was little exploration or mining activity from 1940 until 1984, when the Mountain View area became the focus of a significant amount of exploration effort. The property was staked or re-staked in 1979 and there was visible activity at the time of a field examination in 1984 by NBMG staff geologists.

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Rejuvenated exploration began with St. Joe in 1984 in the vicinity of the Mountain View mine and was followed by programs from US Borax in 1986, N.A. Degerstrom Inc. from 1988 to 1990, Westgold in 1989, Canyon Resources Corp. ("**Canyon**") from 1992 to 1994, Homestake from 1995 to 1996 and, finally, Franco-Nevada in 2000 and 2001.

In 1992, the Severance zone was discovered by Canyon in drill hole MV92-6, which intersected 400 ft of 0.017 oz/t gold. Canyon was in a joint venture with Independence Mining at that time and went on to acquire 100% ownership in 1995. Subsequently, Homestake entered into a joint venture agreement with Canyon, with Homestake as operator.

Geological Setting, Mineralization and Deposit Types

The Wildcat and Mountain View deposits both lie within the Great Basin, a region and geologic province within the North American Cordillera. The Great Basin is bounded by the Colorado Plateau on the east, Sierra Nevada on the west, Snake River Plain on the north, Garlock fault and Mojave block on the south, and is approximately 600 km by 600 km in size. The majority of the Great Basin is occupied by the state of Nevada (Dickinson, 2006). The evolution of geology in the Great Basin spans from the Archean to present and is detailed by Dickinson (2006).

The present-day surface geology of northwest Nevada, where both the Wildcat and Mountain View deposits are located, is at the intersection of two geologic domains, defined by John (2001) as, 1) the Western andesite assemblage, commonly referred to as the Walker Lane, and 2) the Bimodal basalt-rhyolite assemblage. Underlying these Western andesite assemblage and Bimodal basalt-rhyolite assemblage are Cretaceous granodiorites, Triassic sedimentary rocks, and Paleozoic metavolcanic rocks.

Rocks within the Western andesite assemblage are interpreted to have a tectonic setting related to subduction along the continental margin arc, have a high magmatic oxidation state, and are typified by andesite-dacite, minor rhyolite, and rare basalt. Gold deposits found in the Western andesite assemblage include the Comstock Lode, Goldfield and Tonopah.

The Bimodal basalt-rhyolite assemblage, the host assemblage of the Wildcat and Mountain View deposits, differs from the Western andesite assemblage in that these rocks are tectonically related to continental rifting, have a low magmatic oxidation state, and the most common rock types are basalt-mafic andesite and rhyolite with minor trachydacite. Aside from Wildcat and Mountain View, other gold deposits found within the Bimodal basalt-rhyolite assemblage are Fire Creek, Sleeper, Midas, Florida Canyon, and Hog Ranch. Located in northwestern Nevada, where the Walker Lane (Western andesite assemblage) and Bimodal basalt-rhyolite assemblages intersect, the project areas around Wildcat and Mountain View are clearly in a favourable geologic terrain for the formation of economic gold deposits.

The Wildcat and Mountain View deposits are both low-sulphidation (quartz-calcite-adularia-illite) epithermal gold deposits within the Biomodal basalt-rhyolite assemblage in the northwestern Great Basin.

<u>Wildcat</u> 

The Wildcat deposit lies in the Seven Troughs Range, which is underlain by Triassic and Jurassic sedimentary rocks and has been intruded by Cretaceous granodiorite. Cenozoic igneous activity emplaced andesite, diorite, trachyte, trachyandesite, rhyolite and basalt domes and plugs. Cenozoic flows, pyroclastic debris, and vitrophyres of rhyolitic, trachytic and andesitic composition blanket much of the area, and these are broadly related to at least four intrusive events that are mappable on the surface at the Wildcat deposit. Post-mineral and Late Cenozoic conglomerates, basalt plugs and flows, tuffs, and Quaternary alluvium mask much of the area.

Deformation in the property area is varied and locally intense. Previous workers interpreted the presence of low-angle normal faults. High-angle normal faults at the deposit and along the range front are interpreted to be related to Basin and Range faulting and regional extension. The relationship between these is uncertain, though the low angle faults have both controlled mineralization and post-dated mineralization.

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Cataclastic deformation has been described in the granodiorite and probably played a role in controlling the mineralization.

Precious metal mineralization at the Wildcat deposit occurs with low-temperature silica, chalcedony and pyrite and can be best-described as epithermal precious metal mineralization. The entire known deposit has a footprint approximately 1,500 meters ("m") long, 1,500 m wide and 150 m deep, with some areas containing significantly higher gold mineralization than others. Principal controls on the mineralization are lithologic, high-angle faults, and the contact between the granodiorite and lapilli tuff breccia.

Precious metal mineralization is identified in two lithologies at Wildcat, the granodiorite and lapilli tuff breccia. Mineralization in the granodiorite is typically limited to discontinuous quartz veins that strike north-northeast, dip steeply (70° to 80°), display localized and intense acid-bleaching (kaolinization) in the adjacent host rock, and appear to occupy a set of faults shown to predate the bulk of magmatic-hydrothermal activity in the district. Typically, these veins range in thickness from 10 cm to 2.5 m.

<u>Mountain View</u>

The geology around the Mountain View deposit consists of Miocene volcanic and volcaniclastic sedimentary rocks, greenschist facies, Jurassic rocks, and a large granodiorite (99.9 Ma) intrusion just to the east of the deposit.

Mapping shows that the western portion of the property area consists of Quaternary alluvium and Miocene rocks, including mafic tuffs, rhyolite tuffs and flows, volcaniclastic sediments and basalts. At the range front, Miocene rocks are in the hanging wall of a structural contact with Cretaceous and Jurassic rocks. The normal range front fault on the western edge of the Granite range runs northwest-southeast, dips steeply southwest, and exhibits geometry consistent with broader Basin and Range faulting in northwestern Nevada.

Since the late 1980s two mineralized zones, Severance and Buffalo Hills, have been the target of exploration at Mountain View. The Nevada North Report focuses on the Severance area, as that is where drilling during 2021 and 2022 was completed. The Buffalo Hills mineralized zone is not the subject of the Nevada North Report.

The Severance zone is hosted in the Severance Rhyolite (15.4 Ma). The deposit is located in the hanging wall of the northwest-striking southwest-dipping range-bounding fault on the western side of the Granite range. Juxtaposed to the zone, in the footwall side of this fault, is Cretaceous granodiorite. In only a couple of instances, the Severance rhyolite outcrops along the range front and drilling evidence suggests it occupies an area approximately 3,200 ft long and 1,000 ft wide. Much of the Severance zone is overlain by 500 ft to 700 ft of Quaternary alluvial cover.

A second body of rhyolite (Cañon Rhyolite) crops out near the Squaw Valley reservoir and is interpreted to extend to the northeast toward the Buffalo Hills zone, located approximately 5,000 ft to the west-northwest of Severance. The Cañon and Severance rhyolites are likely the same unit.

Structure on the property is dominated by northwest and northeast trending faults and fracture sets, though a number of north-south lineaments have been identified from aerial photographs. Major dip-slip offsets occur along the range-front fault system and these are, in turn, offset by the northeast trending structures. The latest movement on the range front fault system is interpreted to offset recent alluvium (Homestake, 1996).

The mineralized zone at the Mountain View deposit has a roughly tabular shape, striking towards the northwest and dipping steeply to the southwest. The mineralization occurs beneath unconsolidated alluvium, between approximately 400 ft and 1,000 ft below surface. Two different styles of epithermal gold mineralization are recognized as occurring on the deposit:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Sheeted quartz veins within Permo-Triassic units at the old Mountain View mine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Multi-stage hydrothermal breccias and veins cutting Cenozoic rhyolites at the Severance zone area.

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Both styles of mineralization are interpreted to be the same age and are products of the same mineralizing event. Potassium-argon dating indicates that the age of mineralization is approximately 14 Ma to 15 Ma.

Both types of mineralization are geochemically similar, with high arsenic, mercury and antimony levels, low base metal levels, and high silver to gold ratios of approximately 7:1. Petrographic and microprobe work by Homestake on high-grade gold samples from the Severance deposit has identified abundant silver selenides and coarse grains of electrum.

The high-grade zones at the Severance zone occur along northwest and east-northeast trending structures.

Low sulphidation epithermal mineralization at the Severance zone has been interpreted as a somewhat planar zone of low to moderate grade gold mineralization, hosted primarily by the Severance Rhyolite. The zone has a roughly tabular shape striking toward the northwest and dipping steeply toward the southwest, roughly parallel with the interpreted orientation of the range-front fault. The mineralization occurs beneath the unconsolidated alluvium at the top of bedrock. Several small high-grade zones are interpreted as being strongly structurally controlled and are completely encompassed by lower grade mineralization. They are interpreted to have generally northwest trending and northeast trending cross-cutting orientations.

*Exploration*

Millennial, prior to the acquisition by Integra, undertook a mapping and surface sampling program at Wildcat during the 2021 and 2022 field seasons. The aim of this program was to identify areas of interest for additional exploration drilling and to gain a broader understanding of the mineral potential of Wildcat. In addition to trying to collect high-grade samples, Millennial sampled each mapped lithology on the property, thus gaining a comprehensive and representative understanding of which lithologies and areas have the best potential for hosting potentially economic gold mineralization.

A field mapping program of the lithology, alteration and geological structures was carried out by Millennial at Wildcat. Field mapping covered the entire Wildcat deposit area, but particular attention was given to the main Wildcat deposit area. Results of the mapping and exploration campaigns indicated that there is good potential for additional mineralization beyond of the areas covered by the preliminary economic assessment (the "**PEA**") discussed in the Nevada North Report.

Neither Millennial nor Integra has undertaken any surface exploration at Mountain View.

*Drilling*

<u>Wildcat</u>

In May 2024, Integra initiated a drilling program (10 holes for ~1,940m). This program consists of exploration, development, and metallurgical drill holes. The program was completed at the end of August 2024 and the results were announced in a news release dated December 12, 2024. Drilling results will strategically inform the next phase of studies refining project development and supporting future mine permitting efforts. Integra issued an exploration update news release dated December 12, 2024 with key findings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Infill drilling within the 2023 PEA pit shell confirmed oxide gold continuity. Piezometer installations in key drill holes confirmed that the pit is expected to remain dry, simplifying permitting and operational.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The exploration drilling outside of the PEA pit shell confirmed intense alteration and brecciation, reinforcing the potential for a high-grade breccia feeder system. Hole WCCD-0016 intercepted 213.8m of 0.25 g/t non-oxide Au, with strong hydrothermal brecciation and quartz veining, while WCCD-0015 intersected lake sediments beneath post-mineralization basalts, suggesting proximity to a targeted diatreme and hits 12.2m of 0.22 g/t non-oxide Au.

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Drill hole material was shipped to both metallurgical and geotechnical laboratories for further testing.

Thorough QA/QC protocols were followed including insertion of duplicate, blank and standard samples in the assay stream for all drill holes. The samples were submitted directly to AAL for preparation and analysis. Analysis of gold is performed using fire assay method with atomic absorption finish on a 1 assay ton aliquot. Gold results over 5 g/t are re-run using a gravimetric finish. Silver analysis is performed using ICP for results up to 100 g/t on a 5-acid digestion, with a fire assay, gravimetric finish for results over 100 g/t silver.

In 2022, Millennial completed a 12-hole drill program on the Wildcat deposit, totaling 1,297.99 m.

Historical drilling provided ample evidence for a gold deposit at Wildcat and, thus the 2022 drill holes were designed to primarily collect metallurgical and geotechnical information. Each hole drilled in 2022 intersected mineralization within the planned oxide open pit. Holes WCCD-0005, WCCD-0010 and WCCD-0012, intersected mineralization outside the previous 2020 mineral resource pit shell, suggesting there is additional mineralization that can be added to the resource at Wildcat and that further exploration is warranted.

<u>Mountain View</u>

Drilling at Mountain View was last completed in 2021-2022 and consisted of 32 drill holes, totaling 8,107.6 m. Two of the holes, MVRC-0001 and MVRC-0002 were drilled using reverse circulation. These holes were drilled with an RC685 drill rig. Twenty-five of the holes drilled at Mountain View were diamond bit core holes that were all collared using a PQ hole diameter. One hole, MVCD-0015 had to be reduced twice in size while drilling, from PQ to HQ and from HQ to NQ, due to difficult drilling conditions. Five holes (MVCD-0001A, 0011, 0012, 0013 and 0014) were collared with reverse circulation drilling and then transitioned to PQ diamond core drilling closer to the interpreted location of the mineralization. Core holes were drilled with CT14 and CT20 drill rigs.

Throughout the program, drilling conditions were difficult, and nine holes were lost.

Historical drilling provided ample evidence for a gold deposit at Mountain View, and holes for the Millennial drilling campaign were designed primarily to collect metallurgical and geotechnical information, while focusing on minimal environmental disturbance. The program was designed to confirm continuity of the mineralization in a number of areas within the deposit.

Over 50% of the holes drilled at Mountain View in 2021 and 2022 intersected mineralization, suggesting that the mineralization is fairly continuous. Some drill holes intersected economic gold grades outside the area of the pit designed for the PEA and this tends to reinforce the hypothesis that there are areas with the potential to host additional economic mineralization at Mountain View.

*Sampling, Analysis and Data Verification*

Sample handling and security procedures were managed by Millennial personnel. These procedures are described below:

Following extraction from the core tube, diamond drill core is placed in wax-impregnated core boxes with depths marked by wooden marking blocks. The boxes were labelled with the drill hole number, the box number, and the depth interval, then lidded and stacked. Boxes were picked up on a regular basis and delivered to the core logging facilities. Wildcat samples were delivered to the core logging facility in Lovelock (Nevada) and Mountain View samples were delivered to a core logging facility in Gerlach (Nevada).

At the core logging facility, drill core is marked with footage depths and recovery and rock quality are measured and recorded using MX Deposit database. Geological logs (Lithology, Alteration, Oxidations, Structures) and sample intervals are marked with aluminum tags and unique sample identification numbers, and input into MX Deposit as well. Drill core was then photographed and sent to the core cutting facility. Millennial core cutters half cut the drill core using a Corewise Automatic Core Saw. Half the core is placed back in the core box and the other half is placed in a sample bag, labelled with the corresponding

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sample identification number. Boxes of half cut core are palleted and moved to core storage. Sample bags are moved to a staging area for dispatch to AAL.

During staging for dispatch, standard and blank samples are inserted into the sample sequence for quality assurance and quality control. Bagged samples are then placed in rice bags in groups of five to ten samples, depending on weight. Rice bags are labelled with a unique shipment ID and sequential numbering. A sample list and sample submittal form are inserted into the first bag for each shipment. All samples were delivered to AAL by Millennial staff. Chain of custody forms are signed by Millennial and AAL staff.

Samples are dried and crushed to a size of -6 mesh and then roll-crushed to -10 mesh. Two-kilogram ("**kg**") splits of the mesh materials are pulverized to 95% passing -150 mesh. 30-gram aliquots are then analyzed for gold by fire-assay fusion with an inductivity coupled plasma analytical method ("**ICP**") finish. Silver and 38 major, minor and trace elements are determined by ICP and inductively coupled plasma mass spectrometry ("**ICP-MS**"), following a 5-acid digestion of 0.50-gram aliquots. Samples that assay greater than 10 g Au/t are re-analyzed by fire-assay fusion of 30-gm aliquots with a gravimetric finish. Samples with greater than 100 g Ag/t are also re-analyzed by fire-assay fusion with a gravimetric finish.

The following summarizes the 2022 QA/QC program for samples from Wildcat and Mountain View:

Calibration and repeatability of measurements are monitored by the use of CRMs. This part of the QA/QC program allows for verification of the proper calibration of the laboratory analytical equipment (AA, ICP or ICP-MS), the possible analytical drift of equipment, and the accuracy and precision of the measurements. It assists in the detection of any potential systematic errors and identifies the need for implementation of corrective actions.

Contamination during preparation is monitored by the routine insertion of coarse barren material (a "blank"), that goes through the same sample preparation and analytical procedures as the core samples. Elevated values for blanks may indicate sources of contamination in the fire assay procedure or sample solution carry-over during instrumental finish. The blank samples used at both Wildcat and Mountain View were white pebbles or coarse marble chips purchased from a hardware store.

Sample variability and representativeness of the sampling is assessed using duplicate samples. The duplicate samples are prepared by the laboratory after the crushing of original samples. The duplicates assay informs on the repeatability of the grade, providing useful information on the nugget effect and sampling error related to the homogeneity present in the samples.

During applicable site visits, Mr. Lewis focused his inspection on the verification of drilling methodology and procedures, drill logging and sampling procedures and the QA/QC procedures. Logging procedures and sampling of the core were discussed along with the insertion of standards, blanks and duplicate samples. A number of samples from the Nevada North Project were chosen for independent re-assaying, under Micon's control.

*Mineral Processing and Metallurgical Testing*

Historical metallurgical testwork has been undertaken on both the Wildcat and Mountain View deposits and Millennial, prior to its acquisition by Integra, undertook further testwork, summarized below.

<u>Wildcat</u> 

The composite samples selected by Millennial to represent typical oxide mineralization within the Wildcat mineral resources were amenable to heap leaching. Column leach tests suggest that gold extractions of around 60% to 80% could be achieved for the predominant mineralization-type (oxide rhyolite volcaniclastic) under typical design conditions. Gold recoveries of about 50% from oxide granodiorite were achieved from column leach tests. Corresponding silver extractions of between 20% to 30% would be expected from oxide mineralization. Column test results using sulphide mineralization suggested that this material was not amenable to heap leaching.

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Bottle roll tests with both coarse and fine material indicated a significant negative relationship between gold recovery and sulphur content, with a steep drop off of gold extraction with sulphide sulphur assays higher than 0.3%. Silver recoveries also tended to reduce with higher sulphur.

Bottle roll cyanide and lime requirements for oxide rhyolite volcaniclastic samples tested were reasonable, typically about 0.2 kg NaCN /t and 1.4 kg lime /t. However, reagent requirements for the oxide granodiorite samples were significantly higher. Corresponding cyanide consumptions for the column tests were 3 to 5 times higher, primarily due to long extended leaching times.

Hydraulic conductivity testing showed that permeability was high for the P80 9.5 mm oxidized rhyolitic vocaniclastic samples (4832-002 and 003), although it was lower for 4832-001, the oxidized granodiorite composite. This result suggests that oxidized granodiorite may require cement agglomeration or blending with high permeability material.

During the column tests there was very little slumping (typically less than 1%) and there were no issues with solution channelling or fines migration during leaching.

Wildcat samples were classified as "very soft" in terms of crusher work index and "moderate to very abrasive" based on the Bond abrasion index tests.

<u>Mountain View</u>

The Mountain View composite samples selected by Millennial to represent typical oxide mineralization within the mineral resources were amenable to heap leaching. Column leach tests suggest that high gold extractions (>90%) could be achieved under typical design conditions. Corresponding silver extractions of around 20% would be expected.

Bottle roll and column leach tests on transition mineralization, which would be found at the deposit oxide-sulphide boundaries, suggest that gold extraction from this material will be about 30% lower than gold extraction from oxide mineralization.

Bottle roll cyanide and lime requirements for all samples tested were reasonable, averaging 0.2 kg NaCN/t and 1.82 kg lime/t for the P80 75 µm tests. Cyanide consumptions for the column tests were relatively high (up to 2.14 kg NaCN/t), primarily due to long extended leaching times.

Hydraulic conductivity testing showed that permeability was high for all the P80 19 mm oxide samples.

During the column tests, there was very little slumping (typically less than 1%) and there were no issues with solution channeling or fines migration during leaching.

Mountain View samples were classified as "very soft" in terms of crusher work index and "moderately abrasive to abrasive" based on the Bond abrasion index tests.

Preliminary flotation tests on four transition and sulphide variability samples gave gold recoveries between 59% and 78%.

*Mineral Resource Estimate*

<u>Wildcat</u>

William Lewis P. Geo, of Micon has classified the Wildcat deposit mineral resource estimate as Indicated and Inferred Mineral Resources, based on data density, search ellipse criteria and interpolation parameters. The resource estimate is considered to be a reasonable representation of the mineral resources of the Wildcat deposit, based on the currently available data and geological knowledge. The effective date of the mineral resource estimate is June 28, 2023. Table 1.8 displays the results of the mineral resource estimate at a 0.15 g/t Au cut-off grade for the Wildcat deposit.

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**Table 1.8 Wildcat Deposit June 28, 2023, Mineral Resource Estimate Statement**

![image_11.jpg](image_11.jpg)

**Notes**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.Effective date of the mineral resource estimate is June 28, 2023.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Mineral resources that are not mineral reserves do not have demonstrated economic viability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.William J. Lewis, P.Geo., of Micon has reviewed and verified the mineral resource estimate for the Wildcat deposit. Mr. Lewis is an independent "qualified person", as defined in NI 43-101.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The estimate is reported for an open-pit mining scenario, based upon reasonable assumptions. The cut-off grade of 0.15 g/t Au was calculated using a gold price of US$1,800/oz, mining costs of US$2.4/t, processing cost of US$3.7/t, G&A costs of US$0.5/t, and metallurgical gold recoveries varying from 73.0% to 52.0% and silver recoveries of 18%. The gold equivalent figures in the resource estimate are calculated using the formula (g/t Au + (g/t Ag ÷ 77.7)).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.An average bulk density of 2.6 g/cm<sup>3</sup> was assigned to all mineralized rock types.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.The inverse distance cubed interpolation was used with a parent block size of 15.24 m x 15.24 m x 9.144 m.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.Rounding as required by reporting guidelines may result in minor apparent discrepancies between tonnes, grades, and contained metal content.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.The estimate of mineral resources may be materially affected by geological, environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.Neither Integra nor Mr. Lewis is aware of any known environmental, permitting, legal, title-related, taxation, socio-political, marketing or other relevant issue that could materially affect the mineral resource estimate other than any information already disclosed in the Nevada North Report.

<u>Mountain View</u> 

William Lewis P. Geo, of Micon has classified the Mountain View deposit mineral resource estimate as indicated and inferred mineral resources, based on data density, search ellipse criteria and interpolation parameters. The resource estimate is considered to be a reasonable representation of the mineral resources of the Mountain View deposit, based on the currently available data and geological knowledge. The effective date of the mineral resource estimate is June 28, 2023. Table 1.9 displays the results of the mineral resource estimate at a 0.15 g/t Au cut-off grade for the Mountain View deposit.

**Table 1.9 Mountain View Deposit June 28, 2023, Mineral Resource Estimate Statement**

![image_21.jpg](image_21.jpg)

**Notes**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.Effective date of the mineral resource estimate is June 28, 2023.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Mineral resources that are not mineral reserves do not have demonstrated economic viability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.William J. Lewis, P.Geo., of Micon has reviewed and verified the mineral resource estimate for the Mountain View deposit. Mr. Lewis is an independent "qualified person", as defined in NI 43-101.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The estimate is reported for an open-pit mining scenario, based upon reasonable assumptions. The cut-off grade of 0.15 g/t Au was calculated using a gold price of US$1,800/oz, mining costs of US$1.67/t to US$2.27/t, processing cost of US$3.1/t, G&A costs of US$0.4/t, and metallurgical gold recoveries varying from 30.0% to 86.0% with a silver recovery of 20%. Gold equivalent in the Resource Estimate is calculated using the formula (g/t Au + (g/t Ag ÷ 77.7)).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.An average bulk density of 2.6 g/cm<sup>3</sup> was assigned to all mineralized rock types.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.Inverse distance cubed interpolation was used with a parent block size of 7.62 m x 7.62 m x 6.10 m.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.Rounding as required by reporting guidelines may result in minor apparent discrepancies between tonnes, grades, and contained metal content.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.The estimate of mineral resources may be materially affected by geological, environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.Neither Integra nor Mr. Lewis is aware of any known environmental, permitting, legal, title-related, taxation, socio-political, marketing or other relevant issue that could materially affect the mineral resource estimate other than any information already disclosed in the Nevada North Report.

*Mining Operations*

Economic pit limit analysis for the Nevada North Project was carried out using the Lerchs-Grossmann algorithm, incorporating economic and geometrical parameters provided for the Nevada North Project. Various mining and processing scenarios based on different throughput rates were examined.

*Pit Optimization Parameters*

Technical and economic parameters were established for each scenario, including mining costs, process costs, G&A costs, dilution and metallurgical recoveries.

All throughput scenarios assumed mine operating costs comparable to similar projects in Nevada. The mining cost was further refined using the mine schedule to reflect specific operational requirements.

For all scenarios, leaching is assumed to be conducted in a valley for the Wildcat deposit and adjacent to the pit for the Mountain View deposit. A conveyor is included in the Wildcat scenario to transport crushed ore from the crusher to the leach pad.

Process costs were initially estimated based on processing models and were further refined with the final mine plan.

G&A costs were determined based on personnel, supplies, and other expenses required to support the operation. Recoveries were based on the results of metallurgical testwork conducted.

While pit optimizations considered various metal prices, the base metal prices used in the economic analyses were US$1,700 per ounce of gold and US$21.00 per ounce of silver.

Geometrical parameters typically include property boundaries, royalty boundaries, and pit slope parameters. No royalty factors were directly applied to the optimization; instead, royalties were calculated based on the final schedule, considering all permits that overlap with the properties.

Recent pit slope stability studies conducted by Alius Mine Consulting provided recommendations for the design parameters. These recommendations were incorporated into the optimization work, ensuring that the pit slopes maintain stability and meet the necessary safety standards.

*Mountain View Pit Optimization*

The pit optimization for the Mountain View deposit was conducted using the same parameters as those used for the Wildcat Project, with gold prices ranging from US$500 to US$2,000 per ounce.

Like Wildcat, the ultimate pit limit for design purposes, representing the base-case pit, was selected as the optimized pit at a gold price of $1,200 per ounce.

*Combined Selected Shell*

The US$1,200/oz gold price shell was chosen as the optimal pit configuration to maximize the value of the Nevada North Project while minimizing the capital requirement. This selection was made based on a comprehensive evaluation of the pit optimization results, taking into account economic considerations and the need to optimize the balance between profitability and capital expenditure. By selecting the US$1,200/oz shell, the Nevada North Project generates value while maintaining an efficient capital utilization strategy.

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The pit design was developed using the optimized pit shells. This pit design was created to ensure efficient access to the mineral resources for equipment and personnel involved in the mining operations.

*Wildcat Pit Design*

The Wildcat pit was divided into two main pits, each consisting of two phases, along with the addition of two satellite pits, resulting in a total of six phases in the design. It is planned to mine all six phases simultaneously to achieve a well-blended production.

The two main phases, Phase 1 and Phase 2, were further divided into initial pushbacks, denoted as Phase 1A and Phase 2A, as well as final phases. This subdivision allows for efficient sequencing of mining activities and facilitates the optimal utilization of equipment and personnel.

The mineral resources within the final pit designs were estimated using a volumetric report. Due to lower recovery rates in the fresh material at the Wildcat deposit, only oxide and transition material from the pit was included for processing in the production schedule. Additionally, a dilution factor of 1% was applied to the mineralized tonnes in the production schedule.

*Mountain View Pit Design*

The Mountain View deposit consists of a single main pit, which is divided into two phases: Phase 1 and Phase 2. Both phases are mined simultaneously. The primary objective of the pit design was to achieve a balance between material flows and the cost/revenue streams.

In addition to the determination of resources within the final pit designs, a dilution factor of 5% was applied to the mineralized tonnes during the production scheduling process.

*Wildcat Waste Disposal*

The site at Wildcat has varying topography with very few level areas upon which to locate a waste dump. Two waste storage areas were designed for the Wildcat deposit with the south waste dump primarily accommodating material from Phase 2A and Phase 2F, while the north dump is designated for the remaining phases.

The waste dump designs were based on a bench face angle of 35º, with 15-m lift heights. Catch benches measuring 24 m were incorporated on each lift, resulting in an inter-ramp angle of 18°. The road to the dump is 30 m wide with a gradient of 10%. This configuration allows for final reclamation at the overall slope. In-pit dumping was also included in the mine plan.

The total dump capacity at Wildcat is 22.5 million tonnes, considering a swell factor of 1.25 and a loose density of 2.2 tonnes per cubic metre (t/cm<sup>3</sup>).

*Mountain View Waste Disposal*

The site at Mountain View slopes to the southwest. The design for Mountain View incorporates a waste dump, based on the same parameters as at Wildcat. The dump is situated to the south of the pit, with a 100 m buffer around the pit edge and two main ramps to facilitate short hauling from the Phase 1 and Phase 2 pit exits.

The total dump capacity at Mountain View is 105.4 million tonnes, considering a swell factor of 1.25 and a loose density of 2.0 t/m<sup>3</sup>.

*Mineralized Material Stockpile Facilities*

Two mineralized material stockpiles have been designed, one for each deposit, utilizing the waste dump design criteria. The stockpiles were designed with a bench face angle of 35º, 15-m lift heights, and catch benches of 24 m, resulting in an inter-ramp angle of 18°.

At Wildcat, a small stockpile with a capacity of 0.5 million tonnes has been designed. This stockpile primarily serves the purpose of blending to maintain the granodiorite ratio in the feed below 15%.

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At Mountain View, a larger stockpile with a capacity of 9.2 million tonnes is planned to store mineralized material during the pre-stripping period before processing commences. The stockpile capacities have been estimated using a swell factor of 1.25 and a loose density of 2.2 t/m<sup>3</sup>.

*Production Scheduling*

The mine production schedule was created with a cut-off grade of 0.15 g/t of gold applied to all material across both deposits.

Various scenarios were run to determine the optimal processing rate. The scenarios ranged from 10,000 t/d to 30,000 t/d, in increments of 5,000 t/d. The highest NPV for Wildcat was achieved at a processing rate of 30,000 t/d, while Mountain View showed the highest NPV at a rate of 20,000 t/d.

To minimize capital requirements and maximize NPV, the Nevada North Project has been designed to share resources. Consequently, a processing rate of 30,000 t/d was retained for the Nevada North Project. However, due to factors such as high stripping ratios, bench advance rates, and mining rate constraints, the processing capacity at Mountain View is not optimized.

The scheduling process was designed to optimize NPV and IRR. There is synergy between the Wildcat and Mountain View operations, with shared resources enhancing operational efficiency.

Production at Wildcat is scheduled to commence in Year 1, with construction of Phase 1 of the heap leach pad. The objective is to maximize the processing rate and generate cash to fund the expansion of the leach pad. Additional mining resources will be acquired and allocated to Mountain View from Year 5 to Year 7, during which pre-stripping activities will be initiated. Leachable material will be stockpiled during this period. In Year 7, Wildcat will be completed, and the remaining mining resources will be relocated to Mountain View to increase the mining rate. The processing facilities, including the crusher and plant, will also be relocated from Wildcat to Mountain View, and metal production will commence at the Mountain View site in Year 7.

*Mine Equipment Requirements*

For the current PEA, owner mining was selected over more costly contract mining. The production schedule, along with additional efficiency factors, performance curves, and productivity rates, was utilized to calculate the hours required for primary mining equipment to meet the production schedule. The primary mining equipment includes drills, loaders, hydraulic shovels, and haul trucks.

In addition to the primary mining equipment, provision has been made for support equipment, blasting equipment, and mine maintenance facilities.

*Mine Operations Personnel*

Based on the production schedule and equipment requirements, the estimate for mine operations personnel was performed. The mine is expected to operate 24 hours/day, employing three crews of workers who will work 12-hour shifts on a fourteen-days on and seven-days off rotation. These crews will alternate between day shift and night shift.

*Processing and Recovery Operations*

Run-of-mine material will be truck dumped into the primary jaw crusher feed hopper. The undersize ore will be scalped prior to the jaw crusher by a grizzly screen and deposited on the secondary crusher feed conveyor. The undersize ore and primary crushed ore will be screened with oversize crushed by secondary and tertiary cone crushers. Material will then be dosed with lime and conveyor stacked on the leach pad.

The stacked ore will be leveled and ripped by a dozer prior to the deployment of drip emitters. Dilute cyanide solution (NaCN) will be applied to the mineralization. The cyanide solution will flow through the heap by gravity and report to a pregnant solution tank within the pregnant solution pond.

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Year ended December 31, 2025

All amounts in USD unless otherwise stated

The pregnant solution will be pumped through a series of activated carbon beds to remove the gold. The barren solution will be dosed with additional cyanide and anti-scalant and recirculated back to the heap. The activated carbon will be advanced counter-current to the solution. The loaded carbon will be transferred to an acid wash / elution circuit to remove contaminants and gold from the carbon. The carbon will then be re-introduced to the adsorption circuit. After year 7 of operation, loaded carbon from Wildcat will be shipped by tanker trailers for acid wash / elution at the Mountain View facility.

After stripping of metals at the Adsorption, Desorption, Recovery ("**ADR**") plant, the carbon will be sized, washed in dilute hydrochloric acid, neutralized, regenerated in a kiln, and then recycled into the carbon column. Some additional carbon will be added to account for carbon losses in the system.

Material from the elution circuit will be smelted into doré bars to be sold to a gold refinery.

For each of Wildcat and Mountain View, facilities will include a single large leach pad, a single process pond (barren/pregnant pond), an emergency drain-down pond, carbon columns, an ADR plant, a laboratory and the other associated facilities.

Energy requirements were estimated at approximately 49,000,000 kWh/y for Wildcat and approximately 40,400,000 kWh/y for Mountain View. Power will be generated on site, using LNG generators, at an estimated cost of US$0.13/kWh.

Reagents and consumables were estimated using the metallurgical testwork performed at McClelland. Reagent costs were estimated using actual quotes for lime, cyanide and carbon and benchmark costs for lesser items.

Water will be supplied from wells near the processing facility. The Wildcat processing facility will need approximately 800 gallons per minute ("**gpm**") (600 gpm at Mountain View) of make-up water to saturate new mineralization stacked, provide dust control, and off-set evaporation. In addition, it is estimated that 100,000 m<sup>3</sup> (approximately 80 acre-feet) per year will be required for mining activities (including dust control) per year.

*Infrastructure, Permitting and Compliance Activities*

All buildings at the Nevada North Project will be designed using modified shipping containers/conexes on a concrete floor, with a prefabricated roof anchored to the containers. This will allow buildings to accommodate storage, offices, change rooms, and restrooms. The following buildings are planned for both Wildcat and Mountain View: maintenance facility, warehouse, process facility, and assay laboratory.

A separate process facility will be installed at each of Wildcat and Mountain View. The Wildcat facility will be larger and will include a barren solution tank, a vertical carbon-in-column ("**VCIC**"), an elution circuit, a refining circuit, reagent tanks, carbon holding tanks, and a tanker bay. The smaller Mountain View process facility will include a barren solution tank, a VCIC, carbon holding tanks and a tanker bay. The reagent tanks will be insulated and in containment external to the building. Both processing facilities will be erected on a concrete containment which will drain to the pregnant solution pond.

The preliminary designs for the Wildcat and Mountain View heap leach pads were prepared in accordance with the requirements outlined in the State of Nevada Regulations, Nevada Administrative Code (NAC) 445A Governing the Design, Construction, Operation and Closure of Mining Operations.

Both the Wildcat and Mountain View deposits will use conventional open pit mining techniques. For both sites, mineralized material will be produced from the respective deposits, with recovery utilizing a conventional cyanide heap leach process. This will consist of a non-impounding leach pad, with composite lining and solution collection systems. The Wildcat pad will have a total lined area of approximately 10.0 million square feet (ft<sup>2</sup>), (0.93 Mm<sup>3</sup>) and the Mountain View pad will have a total lined area of approximately 5.9 million ft<sup>2</sup> (0.54 Mm<sup>3</sup>). Mineralized material for both pads is planned to be placed to a maximum height up to 330 ft.

The Wildcat pad will have a capacity of approximately 70 million metric tonnes (approximately 77.2 million short tons) of mineralized material based on an estimated dry unit weight of 1.6 kg/m<sup>3</sup> (100 lb/ft<sup>3</sup>). The

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

Mountain View pad will have a capacity of approximately 31 million metric tonnes (approximately 34.2 million short tons) of mineralized material also based on an estimated dry unit weight of 1.6 kg/m<sup>3</sup> (100 lb/ft<sup>3</sup>).

For both Wildcat and Mountain View, barren leach solution is assumed to be applied to each pad at a rate of 0.0025 gpm/ft<sup>2</sup> to 0.003 gpm/ft<sup>2</sup> with a total flowrate of approximately 2,500 gpm. Collection and recovery of pregnant leach solution at the toe of both pads will be via gravity flow, promoted using an integrated piping network.

For the purposes of heap sizing and stacking, the recovery cycle for Wildcat was estimated at 45 days, and the recovery cycle for Mountain View was estimated at 35 days.

The Wildcat and Mountain View sites will both require a suite of permits from applicable federal, state and county regulatory agencies. The type of permits required as well as the permitting process, costs and associated timelines for both Wildcat and Mountain View will generally be similar.

Exploration Plans of Operations ("**EPO**") and Reclamation Permit Applications both Wildcat and Mountain View were submitted in 2023 to the BLM and Nevada Division of Environmental Protection – Bureau of Mining Regulation and Reclamation ("**NDEP-BMRR**"), respectively. Approval of the EPOs and Reclamation Permits will allow for large scale mineral exploration and additional environmental resource baseline data collection necessary for mine development at both sites. Smaller-scale exploration and baseline data collection at both Wildcat and Mountain View have been conducted since 2021 and have informed planning for the EPOs. These data are also relevant to future mine-level permitting. Environmental resource baseline reports were submitted to the BLM for review and were utilized to analyze the potential impacts of both Wildcat and Mountain View exploration projects in accordance with the NEPA. Both Wildcat and Mountain View underwent analysis under an Environmental Assessment ("**EA**") and both received determinations indicating Finding of No Significant Impact ("**FONSI**"). Reclamation Permits from NDEP-BMRR are expected in Q2 2026. Applications to permit the appropriation of water rights (to support drilling activities) were submitted in 2023 to the Nevada Department of Water Resources ("**NDWR**") for both Wildcat and Mountain View. The water right application for Wildcat was not protested, but the water rights have not yet been approved. The water right application for Mountain View was contested by five protestants. As of March 24, 2026, these protests have not yet been resolved. Resolution of these protests will require initial outreach to the protestants to understand the basis of their protest. In the event the protestants include current water rights holders in the same hydrologic basin, resolution of the protests may require some demonstration of "no injury" to existing water rights through hydrogeological aquifer pump testing and modeling.

Based on exploration drilling data collected during execution of the EPOs, Integra will develop a MPO for Wildcat and Mountain View. Federal agency approval of the MPO will require environmental review in accordance with the NEPA, and may include an EA. In the event that significant environmental effects are indicated, a more robust environmental impact analysis will be required and an EIS will be prepared. The FONSI (for an EA level analysis) or the ROD (for an EIS-level analysis) will constitute federal approval of the project. Mine level activities are most often analyzed with an EIS but can be analyzed with an EA if the operation would not result in significant impacts. In addition to the NEPA analysis, additional permits from the state will be required to protect air and water quality.

A brief outline of the EIS and permitting schedule follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Begin baseline studies and engage with BLM (Months 1 to 24).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Prepare and submit a Plan of Operation and other local and state permit applications (Months 20 to 30).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Prepare and issue draft EIS including public review (Months 25 to 42).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Final EIS and ROD (Months 42 to 44).

This schedule assumes a best-case scenario of approximately three and a half years. Currently, there are no identified environmental issues at the Wildcat or Mountain View sites that would drastically delay the

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

schedule or that could impact Integra's ability extract the mineral resources. However, addressing the protested water right applications at the Mountain View site have the potential to take several years to resolve and may impact overall project schedule.

*Capital and Operating Costs*

The capital cost estimate was developed using current and historical quotes and bulk materials costs based on similar projects, with allowances for the location of the Nevada North Project relative to materials manufacturing and delivery, available work force and contractor support resources. Two scenarios have been evaluated for Mountain View. The first scenario starts mining at Mountain View two years after Wildcat and progresses concurrently. The relative proximity of the two deposits allows the carbon from Mountain View to be processed at Wildcat. The second scenario begins mining at the Mountain View sequentially, following the completion of mining at Wildcat. This scenario allows the mining fleet at Wildcat and most of the processing equipment to be relocated to Mountain View. This scenario is favourable due to the lower capital expenditures.

An operating cost estimate was developed for the Nevada North Project using current reagent market price quotes from local vendors, leaching parameters from metallurgical testing performed by McCelland Laboratories, and operational experience in the local area.

*Economic Analysis*

The LOM base case cash flow is summarized in Table 1.10.

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

**Table 1.10 Summary LOM Cash Flow, Nevada North Project**

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| | | | | |
|:---|:---|:---|:---|:---|
| **Area** | **Item** | **&nbsp;&nbsp;&nbsp;&nbsp;LOM Total**  | **&nbsp;&nbsp;&nbsp;&nbsp;US$/t** | **US$/oz AuEq** |
| Revenue | Gross sales | &nbsp;&nbsp;&nbsp;&nbsp;1772503  | &nbsp;&nbsp;&nbsp;&nbsp;17.81 | 1700 |
| Cash op. costs | Mining costs | &nbsp;&nbsp;&nbsp;&nbsp;400385  | &nbsp;&nbsp;&nbsp;&nbsp;4.02 | 384 |
|  | Processing costs | &nbsp;&nbsp;&nbsp;&nbsp;357220  | &nbsp;&nbsp;&nbsp;&nbsp;3.59 | 343 |
|  | G&A costs | &nbsp;&nbsp;&nbsp;&nbsp;57480  | &nbsp;&nbsp;&nbsp;&nbsp;0.58 | 55 |
|  | Cash operating costs | &nbsp;&nbsp;&nbsp;&nbsp;815085  | &nbsp;&nbsp;&nbsp;&nbsp;8.19 | 782 |
|  | Selling expenses incl. royalties | &nbsp;&nbsp;&nbsp;&nbsp;63323  | &nbsp;&nbsp;&nbsp;&nbsp;0.64 | 61 |
|  | NV net proceeds of minerals tax | &nbsp;&nbsp;&nbsp;&nbsp;41150 | &nbsp;&nbsp;&nbsp;&nbsp;0.41 | 39 |
|  | Total cash costs | &nbsp;&nbsp;&nbsp;&nbsp;919558  | &nbsp;&nbsp;&nbsp;&nbsp;9.24 | 882 |
| **Net cash operating margin (EBITDA)** | **Net cash operating margin (EBITDA)** | **&nbsp;&nbsp;&nbsp;&nbsp;852945**  | **&nbsp;&nbsp;&nbsp;&nbsp;8.57** | **818** |
| Capital expenditure | Wildcat | &nbsp;&nbsp;&nbsp;&nbsp;178518  | &nbsp;&nbsp;&nbsp;&nbsp;1.79 | 171 |
|  | Mountain View | &nbsp;&nbsp;&nbsp;&nbsp;81124  | &nbsp;&nbsp;&nbsp;&nbsp;0.82 | 78 |
|  | Closure provision | &nbsp;&nbsp;&nbsp;&nbsp;21748  | &nbsp;&nbsp;&nbsp;&nbsp;0.22 | 21 |
|  | Sustaining capital | &nbsp;&nbsp;&nbsp;&nbsp;36000  | &nbsp;&nbsp;&nbsp;&nbsp;0.36 | 35 |
|  | Residual value | &nbsp;&nbsp;&nbsp;&nbsp;(12063) | &nbsp;&nbsp;&nbsp;&nbsp;(0.12) | (12) |
| **Net cash flow before tax** | **Net cash flow before tax** | **&nbsp;&nbsp;&nbsp;&nbsp;547619** | **&nbsp;&nbsp;&nbsp;&nbsp;5.50** | **525** |
| Income tax payable | Income tax payable | &nbsp;&nbsp;&nbsp;&nbsp;62504 | &nbsp;&nbsp;&nbsp;&nbsp;0.63 | 60 |
| Net cash flow after tax | Net cash flow after tax | &nbsp;&nbsp;&nbsp;&nbsp;485114  | &nbsp;&nbsp;&nbsp;&nbsp;4.87 | 465 |
| **All-in Sustaining Cost per ounce AuEq ("AISC")** | **All-in Sustaining Cost per ounce AuEq ("AISC")** |  |  | **973** |
| **All-in Cost per ounce AuEq ("AIC")** | **All-in Cost per ounce AuEq ("AIC")** |  |  | **1175** |

---

This preliminary economic assessment is preliminary in nature; it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized.

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

The average annual LOM production at the Nevada North Project is expected to be 80,000 oz AuEq per year which, at the base case metal prices of US$1,700/oz Au and US$21.50/oz Ag will generate total LOM net free cash flow of US$485 million and average annual free cash flow of US$46 million from year 1 to year 13. Corporate office G&A were not included in the LOM costs for the Nevada North Project.

The base case cash flow is equivalent to an after-tax NPV of US$309.6 million at a discount rate of 5% and yields an IRR of 36.9%. Over the LOM period, the operating margin averages 48.1%.

As of June 27, 2023 spot prices of US$1,920/oz gold and US$22.00/oz silver, the forecast cash flow evaluates to an after-tax NPV5 of US$442.1 million at an annual discount rate of 5% and yields an IRR of 49.7%.

The Nevada North Project is expected to have direct cash costs of US$882/oz gold equivalent ("**AuEq**"), an AISC of US$973/oz AuEq, and AIC of US$1,175/oz AuEq.

Annual cash flows are shown graphically in Figure 2.

**Figure 2 LOM Cash Flow Chart**

![image_3a.jpg](image_3a.jpg)

The sensitivity of the Nevada North Project NPV and IRR were tested over a range of ±25% around the base case values for gold price, operating costs and capital expenditure. The results show that NPV and IRR remain positive across the ranges tested. The Nevada North Project is most sensitive to metal price, with NPV5 being reduced to US$52.7 million from the base case value of US$309.6 million at a 25% reduction in gold price, equivalent to US$1,275/oz, yielding an IRR of 10.5% at that price.

The base case discount rate of 5.0% yields NPV5 of US$309.6M. At discount rates of 7.5% and 10.0%, NPV is reduced to US$249.3 million and US$201.2 million, respectively.

*Exploration, Development and Production*

A preliminary hydrogeological study was conducted at Wildcat in Q4 2025 to initiate the development of a hydrogeological conceptual site model ("**HCSM**") and to assess potential water management and supply issues impacting mining and reclamation planning. Four monitoring wells were installed at Wildcat in proposed open pit areas (three wells) and in the vicinity of the proposed heap leach (one well) area. These wells were installed under an existing Notice authorization, and will provide data related to groundwater depth, flow direction and water quality. Further hydrogeological studies are planned for 2026 and will be informed by these preliminary data. The BLM's EA for the Wildcat EPO is complete, and decision documentation will be complete pending approval of a Memorandum of Agreement with the State Historical Preservation Office and Tribal governments. The Reclamation Permit from NDEP BMRR will be

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

completed following EPA approval and is anticipated in Q2 2026. Once fully approved and permitted, the Wildcat EPO will facilitate expanded exploration and drilling campaigns that will be initiated in 2026.

At Mountain View, environmental analysis for the EPO is also complete. The Mountain View EPO was posted for a 30-day public comment period (now complete), and a Final EA was published in Q4 2025 (with no public comment period). The NDEP BMRR Reclamation Permit is anticipated in Q2 2026. Once fully approved and permitted, the Mountain View EPO will provide greater flexibility for significantly expanded exploration and drilling campaigns in the future. The Company is planning the commencement of a pre-feasibility study in the latter part of 2026 with an expected announcement in the first half of 2027.

**DIVIDENDS AND DISTRIBUTIONS**

Integra has not paid any dividends on its Common Shares since incorporation and currently intends to retain future earnings, if any, to finance further business development. The declaration of dividends on Common Shares earnings, capital requirements, operating and financial condition and a number of other factors that the Board considers to be appropriate. There are no restrictions on the ability of Integra to pay dividends in the future.

**DESCRIPTION OF CAPITAL STRUCTURE**

***Common Shares***

The Company's authorized capital consists of an unlimited number of Common Shares and an unlimited number of special shares, of which there are 202,158,810 Common Shares issued and outstanding and nil special shares issued and outstanding as of the date of this AIF.

All of the issued Common Shares rank equally as to voting rights, participation and a distribution of Integra's assets on liquidation, dissolution or winding-up and the entitlement to dividends. Holders of Common Shares are entitled to receive notice of, attend and vote at all meetings of shareholders of Integra. Each Common Share carries one vote at such meetings. Holders of Common Shares are entitled to dividends if and when declared by the Board and, upon liquidation, to receive such portion of the assets of Integra as may be distributable to such holders. There are currently no other series or class of shares which rank senior, in priority to, or *pari passu* with the Common Shares. The Common Shares do not carry any pre-emptive, subscription, redemption or conversion rights, nor do they contain any sinking or purchase fund provisions.

***Warrants***

As of the date of this AIF, the Company has 6,262,201 common share purchase warrants outstanding (the "Warrants"). The Warrants are listed for trading on the TSX-V under the symbol "ITR.WT".

***Options, RSUs & DSUs***

The Company's equity compensation plan is a "rolling plan", pursuant to which the aggregate number of Common Shares to be issued to directors, officers, consultants and employees of the Company, together with any other securities-based compensation arrangements of, shall not exceed 10% of the issued and outstanding Common Shares from time to time. The Company's equity compensation plan also permits the Board to grant a fixed number of restricted share units ("**RSUs**") or deferred share units ("**DSUs**") and provides for a purchase program for eligible employees of the Company to purchase Common Shares. As of the date of this AIF, there were options to acquire 2,931,933 Common Shares, 1,263,096 RSUs and 888,533 DSUs outstanding.

**MARKET FOR SECURITIES**

***Trading Price and Volume***

Integra's Common Shares were listed on the TSX-V in November 2017 under the symbol "ITR". The Company's Common Shares commenced trading in the United States on the OTCQB in January 2018

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

under the stock symbol "IRRZF" and were subsequently listed on the OTCQX in May 2018. On July 31, 2020, the Company began trading on the NYSE American under the symbol "ITRG". The Company ceased trading on the OTCQX concurrently with the NYSE American listing. The Company continues to list on the TSX-V under the trading symbol "ITR". The Warrants issued pursuant to the Unit Offering were listed on the TSX-V on March 22, 2024 under the symbol "ITR.WT".

The following tables sets forth trading information for the Common Shares on the TSX-V on a monthly basis since January 2025.

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| | | | |
|:---|:---|:---|:---|
| | **Price Range**  | **Price Range**  | **TSX-V** |
| **Month** | **High C$** | **Low C$** | **Monthly Trading Volume**  |
| January 2025 | 1.54 | 1.12 | 7143162 |
| February 2025 | 1.79 | 1.52 | 6238377 |
| March 2025 | 1.96 | 1.49 | 7950158 |
| April 2025 | 2.60 | 1.51 | 18604548 |
| May 2025 | 2.68 | 2.00 | 8223107 |
| June 2025 | 2.59 | 1.93 | 7222264 |
| July 2025 | 2.19 | 1.96 | 6346413 |
| August 2025 | 3.14 | 1.98 | 11023787 |
| September 2025 | 4.26 | 3.24 | 23031320 |
| October 2025 | 4.85 | 3.70 | 13421885 |
| November 2025 | 4.90 | 3.70 | 8698263 |
| December 2025 | 6.44 | 4.92 | 7936488 |
| January 2026 | 6.60 | 4.93 | 10643896 |
| February 2026 | 6.00 | 4.40 | 7885224 |
| March 2026<sup>(1)</sup> | 5.99 | 3.38 | 6135327 |

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**Notes**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.March 1 – 23, 2026.

The following tables sets forth trading information for the Common Shares on the NYSE American on a monthly basis since January 2025. &nbsp;&nbsp;&nbsp;&nbsp;

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

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| | | | |
|:---|:---|:---|:---|
| | **Price Range**  | **Price Range**  | **NYSE American** |
| **Month** | **High US$** | **Low US$** | **Monthly Trading Volume** |
| January 2025 | 1.07 | 0.79 | 8817920 |
| February 2025 | 1.27 | 1.03 | 7557378 |
| March 2025 | 1.38 | 1.03 | 10763033 |
| April 2025 | 1.88 | 1.05 | 26144368 |
| May 2025 | 1.95 | 1.43 | 24648122 |
| June 2025 | 1.90 | 1.41 | 27112035 |
| July 2025 | 1.62 | 1.43 | 20475072 |
| August 2025 | 2.29 | 1.44 | 30487077 |
| September 2025 | 3.10 | 2.34 | 49916046 |
| October 2025 | 3.49 | 2.62 | 52196380 |
| November 2025 | 3.52 | 2.62 | 42277189 |
| December 2025 | 4.69 | 3.53 | 39129182 |
| January 2026 | 4.87 | 3.62 | 54414289 |
| February 2026 | 4.40 | 3.22 | 56706334 |
| March 2026<sup>(1)</sup> | 4.42 | 2.53 | 51144961 |

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**Notes**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.March 1 – 23, 2026.

The following tables sets forth trading information for the Warrants on the TSX-V on a monthly basis since January 2025.

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| | | | |
|:---|:---|:---|:---|
| | **Price Range**  | **Price Range**  | **TSX-V** |
| **Month** | **High C$** | **Low C$** | **Monthly Trading Volume**  |
| January 2025 | 0.65 | 0.40 | 146000 |
| February 2025 | 0.85 | 0.60 | 93600 |
| March 2025 | 0.94 | 0.60 | 166600 |
| April 2025 | 1.50 | 0.70 | 287027 |
| May 2025 | 1.55 | 1.05 | 77350 |
| June 2025 | 1.45 | 1.00 | 170100 |
| July 2025 | 1.12 | 0.93 | 215902 |
| August 2025 | 2.00 | 1.04 | 227900 |
| September 2025 | 3.14 | 2.21 | 128601 |
| October 2025 | 3.61 | 2.65 | 181600 |
| November 2025 | 3.67 | 2.64 | 17351 |
| December 2025 | 4.91 | 3.87 | 70301 |
| January 2026 | 5.25 | 4.04 | 89130 |
| February 2026 | 4.72 | 3.27 | 186926 |
| March 2026<sup>(1)</sup> | 4.72 | 2.33 | 142100 |

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**Notes**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.March 1 – 23, 2026.

**PRIOR SALES**

The Company issued the following securities which are not listed or quoted on a marketplace during the year ending December 31, 2025:

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

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| | | | |
|:---|:---|:---|:---|
| **Security** | **Date of Issue** | **Aggregate Number Issued** | **Exercise Price** |
| Options<sup>(1)</sup> | January 24, 2025 | 1362415 | C$1.37 |
| RSUs<sup>(2)</sup> | January 24, 2025 | 1306184 | N/A |
| DSUs<sup>(3)</sup> | January 24, 2025 | 348726 | N/A |
| Options<sup>(4)</sup> | March 27, 2025 | 292066 | C$1.91 |
| RSUs<sup>(5)</sup> | March 27, 2025 | 278560 | N/A |
| DSUs<sup>(6)</sup> | March 31, 2025 | 17669 | N/A |
| DSUs<sup>(7)</sup> | June 30, 2025 | 15451 | N/A |
| DSUs<sup>(8)</sup> | September 30, 2025 | 7854 | N/A |
| RSUs<sup>(9)</sup> | December 19, 2025 | 8224 | N/A |
| DSUs<sup>(10)</sup> | December 31, 2025 | 4024 | N/A |

---

**Notes**:

1. Issued in connection with Integra's annual equity incentive grant to consultants, employees, executives and directors of Integra.

2. Issued in connection with Integra's annual equity incentive grant to employees and executives of Integra.

3. Issued in connection with Integra's annual equity incentive grant to independent directors of Integra.

4. Issued to new executives of Integra.

5. Issued to new executives and an employee of Integra.

6. Issued to directors of Integra in lieu of directors' fees.

7. Issued to directors of Integra in lieu of directors' fees.

8. Issued to directors of Integra in lieu of directors' fees.

9. Issued to a new employee of Integra.

10. Issued to directors of Integra in lieu of directors' fees.

**DIRECTORS AND OFFICERS**

***Name, Occupation and Security Holding***

The following table sets out the names and province or state of residence of the directors and executive officers of Integra, their present position(s) and offices within Integra, their principal occupations during the last five years and their date of appointment.

All directors of Integra have been elected or appointed to serve until the next annual meeting of shareholders of Integra, subject to earlier resignation or removal.

As at the date of this AIF, Integra's directors and executive officers beneficially owned, or controlled or directed, directly or indirectly, an aggregate of 1,587,639 Common Shares of Integra, representing approximately 0.8% of the issued and outstanding Common Shares.

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| | | | |
|:---|:---|:---|:---|
| **Name and Place of Residence** | **Current Office with Integra** | **Principal Occupation During the Preceding Five Years** | **Date of Appointment as Director** |
| **Anna Ladd-Kruger**<sup>(1)(2)(3)(4)(5)</sup><br>British Columbia,<br>Canada | Chair | Chartered Professional Accountant (CPA, CMA) and Corporate Director of multiple public mining companies; CFO of McEwen Mining, September 2020 to June 2022; CFO and VP, Corporate Development of Excellon Resources, June 2019 to September 2020 | December 13, 2018 |

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

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| | | | |
|:---|:---|:---|:---|
| **Name and Place of Residence** | **Current Office with Integra** | **Principal Occupation During the Preceding Five Years** | **Date of Appointment as Director** |
| **George Salamis**<sup>(4)</sup><br>British Columbia,<br>Canada | President, CEO & Director | President, CEO & Director of Integra, January 9, 2025 to present; Executive Chair of Integra, May 2023 to present; President, CEO & Director of Integra from August 2017 to May 2023 | February 28, 2018 |
| **Timo Jauristo**<sup>(2)(3)(4)</sup><br>New South Wales,<br>Australia | Director | Chief Executive Officer of South Pacific Metals Corp., June 30, 2025 to present | February 28, 2018 |
| **C.L. "Butch" Otter**<sup>(5)</sup><br>Idaho,<br>United States | Director | Former Governor of the State of Idaho from 2007 to 2019 | September 16, 2019 |
| **Carolyn Clark Loder**<sup>(5)</sup><br>Arizona,<br>United States | Director | Manager, Mineral Rights & Public Lands of Freeport-McMoRan Copper & Gold from September 2013 to September 2020 | February 24, 2021 |
| **Ian Atkinson**<sup>(1)(2)(3)(4)</sup><br>Texas, United States | Director | Corporate Director, 2016 to present | November 8, 2024 |
| **Janet Yang**<sup>(1)</sup><br>Georgia, United States | Director | CFO, Reveam, Inc, 2024 to present; Research Director, Energy and Mining at GMT Capital Corp., 2023 to 2024; Executive Vice President and CFO, W&T Offshore, Inc., 2018 to 2023 | November 8, 2024 |
| **Chantal Lavoie**<br>Ontario,<br>Canada | Director | COO, Rio Tinto Iron Ore Company, December 2018 to August 2024 | March 12, 2026 |
| **Andree St-Germain**<br>British Columbia,<br>Canada | CFO | CFO of Integra, August 2017 to present | N/A |
| **Clifford Lafleur**<br>Ontario, Canada | COO | COO of Integra, from March 25, 2025; Senior Vice President, Operations of SilverCrest Metals Inc., January 2025 to February 2025; Vice President, Operations of SilverCrest Metals Inc., January 2024 to December 2024; Vice President Technical Services of SilverCrest Metals Inc., July 2021 to December 2023; Director, Resource Management and Mine Engineering of Torex Gold Resources Inc. from January 2020 to July 2021 | N/A |

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

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| | | | |
|:---|:---|:---|:---|
| **Name and Place of Residence** | **Current Office with Integra** | **Principal Occupation During the Preceding Five Years** | **Date of Appointment as Director** |
| **Scott Olsen**<br>Nevada,<br>United-States | Vice President, Engineering – Processing and Infrastructure | Vice President, Engineering – Processing and Infrastructure of Integra, November 2023 to present; Senior Metallurgical Engineer for Hanlon Engineering & Associates, Inc., March 2020 to November 2023 | N/A |
| **Scott Guay**<br>Ontario, Canada | Vice President, Project Development | Vice President, Project Development of Integra, March 2026 to present; Senior Director, Project Services of Kinross Gold Corporation, March 2022 to March 2026; Project Director, Curlew Basin Restart Project of Kinross Gold Corporation, January 2021 to March 2026 | N/A |
| **Dale Kerner**<br>Idaho, United States | Vice President, Permitting | Vice President, Permitting of Integra, March 2025 to present; Permitting Manager, Perpetua Resources, 2017 to March 2025 | N/A |
| **Mark Stockton**<br>British Columbia, Canada | Vice President, External Affairs and Sustainability | Vice President, External Affairs and Sustainability, December 2020 to present; Director, Corporate Affairs of Integra, May 2017 to December 2020 | N/A |
| **Sean Deissner**<br>British Columbia, Canada | Vice President, Finance | Vice President, Finance of Integra, May 2025 to present; Vice President, Financial Reporting of SilverCrest Metals Inc., November 2023 to February 2025; Senior Director, Financial Reporting of Pan American Silver Corp., May 2023 to November 2023; Director, Financial Reporting of Pan American Silver Corp., February 2020 to May 2023 | N/A |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.Member of the Audit Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Member of the Nomination and Corporate Governance Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Member of the Compensation Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.Member of the Technical and Safety Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.Member of the Environment, Social, Governance Committee.

***Director and Management Biographies***

The following are brief biographies of the executive officers and directors of Integra:

***Anna Ladd-Kruger - Chair***

Anna Ladd-Kruger has over 25 years of industry experience, progressing her career through financial and operational leadership roles at several Canadian publicly listed mining companies. She has experience in various stages of the mining process from exploration to multi-jurisdictional operations. Prior to retiring in 2022, Ms. Ladd-Kruger was the CFO of McEwen Mining Inc. She was also key to the McEwen Copper Asset spin out and served as its CFO and director. Anna has also served as the CFO and VP Corporate Development for a number of Canadian publicly listed junior to mid-tier mining companies and began her

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

career working at Vale S.A.'s Thompson and Sudbury Canadian operations before joining Kinross Gold Corporation as their North American Group Controller.

Ms. Ladd-Kruger was the former Audit Chair and Special Committee member of SilverCrest Metals Inc. (TSX & NYSE), as well as a number of other publicly traded mining companies. She is currently an independent director of 1911 Gold Corp (TSX.V) and Tocvan Ventures Corp. (CSE). She is also a Certified Public Accountant (CPA, CMA), holds the Canadian Institute of Corporate Directors designation (ICD.D), a Master's in Economics from Queen's University and a Bachelor of Commerce from the University of British Columbia.

***George Salamis – President, CEO & Director***

George Salamis is a business leader in the mining and resource exploration sector, with over 30 years of global industry experience. Over the course of his career, he has played a pivotal role in over $2.2 billion worth of mergers and acquisitions. Most notably, as Executive Chairman of Integra Gold Corp. ("**Integra Gold**"), along with his team, he co-led the successful sale of the company to Eldorado Gold Corporation in a C$590 million transaction.

Mr. Salamis co-led initiatives like the Integra Gold Rush Challenge and #DisruptMining, both of which aimed to drive groundbreaking advancements and disrupt traditional mining practices. He holds a Bachelor of Science in Geology from the University of Montreal's École Polytechnique and has been instrumental in discovering, financing, developing, and selling over five major mineral deposits worldwide.

Mr. Salamis began his career with major mining firms Placer Dome and Cameco Corp, where he spent 12 years honing his expertise before transitioning into mineral exploration and junior mining in 2001. Working in over 25 counties around the world, his experience spans across multiple facets of the industry, from discovery to acquisition.

In addition to his professional achievements, Mr. Salamis holds the rank of Lieutenant Colonel (Hon) in the Canadian Armed Forces, serving with The Royal Westminster Regiment. He is also a dedicated advocate for the Canadian military, serving as a director on both the Canadian Forces Liaison Council and Canada Company, a non-partisan charity supporting the Canadian Armed Forces.

***Timo Jauristo – Director***

Timo Jauristo is the Chief Executive Officer of South Pacific Metals Corp. and has over 35 years' experience in the mining and exploration industry. In his time as Executive Vice-President with Goldcorp Inc. from July 2009 to September 2014, and 15 years (until 2005) with Placer Dome in a range of operating and corporate roles, Mr. Jauristo was involved in or led numerous transactions, buying and selling assets in almost all of the of the world's major gold producing regions. During and since his time with Goldcorp, Mr. Jauristo has served as a director for a number of exploration, development and operating companies. Prior to 1997, Mr. Jauristo was involved in exploration and development for various commodities throughout Australia, and in Indonesia, China, Spain, various south-east Asian and African countries. Between 2005 and 2009, Mr. Jauristo served as CEO of two junior companies (Zincore Metals Inc. and Southwestern Resources Corp.) with assets in Peru and China.

Mr. Jauristo has a Bachelor of Applied Science in applied Geology from the Queensland University of Technology. Mr. Jauristo also holds a graduate diploma in finance from the Securities Institute of Australia, and is a MAusIMM.

***C.L. "Butch" Otter – Director***

Former Governor C.L. "Butch" Otter is an American businessman and politician who served as the 32nd Governor of Idaho from 2007 to 2019. Governor Otter was elected in 2006 and reelected in 2010 and 2014. Governor Otter served as lieutenant governor for 14 years from 1987 to 2001, and in the United States Congress from the first district of Idaho from 2001 to 2007. When Governor Otter left office in January 2019, he was the longest-serving governor in the United States whose time in office had ran consecutively, at 12 years. Governor Otter's election win in 2014 was his tenth consecutive victory.

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All amounts in USD unless otherwise stated

Before devoting his career to full-time politics, Governor Otter spent more than 30 years as a business leader, including 12 years as President of Simplot International.

***Carolyn Clark Loder – Director***

Carolyn Loder possesses more than 30 years of senior professional experience in the public and private sectors in Mining, Mineral Rights, Land Management and Tribal Relations in the United States. Ms. Clark Loder served as President of Sonora Mining Corporation and Vice President of the Sonora Mining Corporation/Jamestown Mine Joint Venture between Northgate Exploration and Pathfinder Gold (Cogema). The Jamestown Mine was North America's largest gold flotation facility. Ms. Clark Loder served two terms as President of the California Mining Association, the first woman President in its hundred-year history.

Ms. Clark Loder headed up Minerals Rights and Public Lands for Freeport-McMoRan, the world's largest publicly traded copper producer and headed up Mineral Rights and Tribal Relations for Lafarge Holcim, the world's largest cement manufacturer. Ms. Clark Loder oversaw and has managed billions of dollars in surface and mineral rights including more than 1,000 properties in the United States. Properties included owned assets and leases and agreements with the U.S. government, State Trust Lands, local governments, Tribal governments, and individual and corporate owners.

Ms. Clark Loder received numerous awards for mineral reserve acquisition both at the corporate and Tribal level, including completion of a landmark land exchange returning tribal ancestral lands to two federally recognized Tribes while securing mining rights. Ms. Clark Loder was invited to address the United Nations, Special Rapporteur and High Commissioner of Human Rights regarding Indigenous Rights and the Extractive Industries. In 2023, Mrs. Clark Loder was the first living woman to be inducted into the United States National Mining Hall of Fame and first woman to be inducted in more than 100 years.

Three Secretary of Interior's appointed her to the federal Bureau of Land Management Resource Advisory Council. Ms. Clark Loder served for nine years on their Council and served as Vice-Chair and Chair of the Council's Mining Sub-Committee. Ms. Clark Loder was honored as one of the "Top 100 Global Inspirational Women in Mining" by Women in Mining – United Kingdom. Ms. Clark Loder was also honored by the National Association of Women in Construction with their Person-of-the-Year Award, as a non-member for her accomplishments and support of the mining industry. Ms. Clark Loder was named Person-of-the-Year by the New Mexico Mining Association for her "Professionalism and Widely Respected Reputation as an Advocate for the Mining Industry." Ms. Clark Loder served as Chair of the New Mexico Mining Hall of Fame.

Ms. Clark Loder holds a M.L.S. Degree in Indian Law from the Sandra Day O'Connor School of Law, Arizona State University and a Master's Degree in Physical Geography with Highest Honors from California State University, Fresno. Ms. Clark Loder currently serves on the Boards of K2 Gold Corp. and American Tungsten Corp. as an Independent Director and as Board Advisor to Kodiak Copper.

***Ian Atkinson – Director***

Ian Atkinson is a Professional Geologist who currently serves as Director of Globex Mining Enterprises Inc and Wolfden Resources Corporation. Mr. Atkinson retired from the Board of Kinross Gold Corp in May 2024 and previously served as a director of FCGI and Argonaut. Mr. Atkinson was previously Director, President, and CEO of Centerra Gold Inc. He has more than 50 years of experience in the mining industry with extensive background in exploration, project development, operations, mergers and acquisitions. Prior to his ten-year tenure at Centerra, Mr. Atkinson held various senior positions with Hecla Mining Company, Battle Mountain Gold Inc., Hemlo Gold Mines Inc., and Noranda Inc. During his career, Mr. Atkinson has contributed to the discovery of several major mineral deposits and been involved in a number of large global mining projects. Mr. Atkinson holds a Bachelor of Science (Geology) from King's College, University of London and a Master's Degree in Geophysics from the Royal School of Mines, University of London.

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

***Janet Yang – Director***

Janet Yang has over twenty years of varied experience in financial management, business leadership, corporate strategy, capital markets and M&A. She currently serves as Chief Financial Officer for Reveam, Inc., a developer and operator of electronic cold-pasteurization treatment systems. Prior to joining Reveam Inc., Ms. Yang held the role of Research Director, Energy and Mining at GMT Capital Corp., and from 2018 to 2023, she was Executive Vice President and Chief Financial Officer of W&T Offshore, Inc., a Texas-based oil and gas exploration and production company traded on the New York Stock Exchange. While at W&T Offshore, Ms. Yang was responsible for $1.7 billion in financing transactions and played a key role in other strategic initiatives, including a substantial deleveraging of the company and originating the company's partnerships with large, international entities such as Baker Hughes General Electric and Korea National Oil Company. Earlier in her career, Ms. Yang held positions in research and investment analysis at BlackGold Capital Management, investment banking at Raymond James and energy trading at Allegheny Energy.

Ms. Yang also serves on the board of directors of Saturn Oil & Gas Inc., and she previously served as a director for Florida Canyon Gold Inc. and Argonaut Gold Inc. Ms. Yang holds a Master of Business Administration degree from the Booth School of Business at the University of Chicago, as well as a Bachelor of Arts degree in Economics from Rice University.

***Chantal Lavoie – Director***

Chantal Lavoie is a mining engineer and seasoned executive with more than 40 years of experience in mine development, operations, capital project execution and corporate governance across gold, base metals, diamonds and iron ore. A Native of Chicoutimi, Northern Quebec, he has a distinguished career in both open-pit and underground mining, having worked in Canada, the USA and Australia while holding senior management and executive roles with some of the world's largest mining companies, including Manager of Underground Division for Barrick's Goldstrike during the expansion of the Meikle Mine, as well as COO for De Beers' Canadian mining operations during the construction of the Snap Lake and Victor mines. He previously served as the CEO for Crocodile Gold Corp., COO for Dominion Diamond Corporation and most recently served as the COO of Rio Tinto Iron Ore Company of Canada for five years until his recent retirement.

Mr. Lavoie currently serves as Chair and Independent Director of Troilus Mining Corporation and holds a Bachelor of Applied Science in Mining Engineering from Laval University in Quebec, Canada. He is a registered Professional Engineer in Ontario and Quebec and holds the Institute of Corporate Directors designation.

***Andrée St-Germain – Chief Financial Officer***

Andrée St-Germain is an experienced mining finance executive with an extensive background in banking, mining finance and financial management. Ms. St-Germain began her career in investment banking for Dundee Capital Markets Inc., working exclusively with mining companies on M&A advisory and financing. In 2013, Ms. St-Germain joined Golden Queen Mining Co. Ltd. as CFO. During her tenure at Golden Queen, Ms. St-Germain played an instrumental role in securing project finance and overseeing Golden Queen as it transitioned from development and construction to commercial production. Ms. St-Germain joined Integra Gold as CFO in early 2017 and helped oversee the sale to Eldorado Gold Corporation in July 2017 for C$590 million. Ms. St-Germain is currently a director of Cambria Gold Mines Inc. and Li-FT Power Ltd.

Ms. St-Germain received her Institute of Corporate Directors, Director (ICD.D) designation from the ICD-Rotman Directors Education Program in 2021.

***Clifford Lafleur – COO***

Clifford Lafleur is a seasoned mining engineer with more than 25 years of operational and executive experience and a proven track record in mine development, operations, and optimization. Most recently,

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**Annual Information Form**

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Mr. Lafleur played a key role in the growth and success at SilverCrest Metals Inc. ("**SilverCrest**") ultimately leading to the company's $1.7 billion sale to Coeur Mining in 2024. Mr. Lafleur joined SilverCrest in 2021 and served as Senior Vice President of Operations, overseeing the development, ramp-up, and operational success of the Las Chispas Mine in Mexico. Prior to joining SilverCrest, Mr. Lafleur served as Director of Mineral Resource Management and Mine Engineering at Torex Gold Resources Inc. ("**Torex**"), specifically in Mexico, for four years. Mr. Lafleur led technical teams in the generation of technical studies, including resources and reserves, life of mine planning, reconciliation, and strategic planning, while also setting professional standards for mine engineering and mine geology departments. Mr. Lafleur also led the design and supported operations in the build of Torex's El Limón Guajes underground mine. Mr. Lafleur is a member of the Professional Engineers of Ontario and graduated from Laurentian University in 1999 with a Bachelor's degree in Mining Engineering.

***Scott Olsen – Vice President, Engineering – Processing and Infrastructure***

Scott Olsen is a metallurgical engineer with approximately 25 years of industry experience. Mr. Olsen has held senior roles at the Bald Mountain Mine located in Nevada, U.S. for both Barrick Gold Corporation and Kinross Gold Corporation, including Chief Metallurgist and various superintendent level positions. Most recently, Mr. Olsen worked as a Senior Metallurgical Engineer for Hanlon Engineering & Associates, Inc., a leading process engineering consulting and contracting company. Mr. Olsen holds a degree in Metallurgical Engineering from the University of Idaho.

***Scott Guay – Vice President, Project Development***

Scott Guay is a professional engineer with more than 25 years of engineering and project delivery experience across large-scale mining and infrastructure developments. Prior to joining Integra, Mr. Guay held senior roles at Kinross Gold Corporation overseeing global capital project delivery with a focus on complex mine expansions and restart projects across North America, South America, Asia and Africa. Mr. Guay brings extensive experience advancing projects through all stages of study, permitting, engineering, procurement, construction, and commissioning. He brings deep expertise in managing multidisciplinary teams, developing robust project execution strategies, and delivering projects of significant strategic importance. Mr. Guay holds a Bachelor of Engineering (Engineering Physics) from McMaster University and is licensed by Professional Engineers of Ontario.

***Dale Kerner – Vice President, Permitting***

Dale Kerner is an Idaho-licensed Professional Geologist with 26 years of experience in the western US mining industry that has focused on mineral exploration, mine development, permitting and NEPA. Mr. Kerner began his career in environmental consulting, supporting growing mining practices and building technical support teams at Brown and Caldwell and Haley & Aldrich. At his latest post, Mr. Kerner served as Permitting Manager at Perpetua Resources, which recently received a Final Record of Decision from the U.S. Forest Service for the Stibnite Gold Project; a brownfields project in central Idaho that will reclaim a century-old legacy site and be the nation's sole domestically-mined source of the critical mineral antimony.

Mr. Kerner is an active member of the American Exploration and Mining Association Society Mentorship Program, Society of Mining, Metallurgy and Exploration (Boise Section), Idaho Mining Association - Idaho Mining Advancement Project, Idaho Geological Survey Mapping Advisory Committee, Idaho Science and Technology Policy Fellowship Advisory Board, and the UW-Eau Claire Geology Department Curriculum Advisory Board. He supports these platforms to build meaningful connections between the mining industry, the public, and the educational institutions that are developing our nation's future mining workforce.

Mr. Kerner holds degrees from Boise State University (MS Geology) and the University of Wisconsin/Eau Claire (BS Geology).

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

***Mark Stockton – Vice President, External Affairs and Sustainability***

Mark Stockton is the Vice President of External Affairs and Sustainability at Integra Resources. Mr. Stockton oversees the development and implementation of Integra's external affairs and environment, social, governance programs, including government, Indigenous, and external relations, sustainability and environmental stewardship, community relations, and social performance.

Mr. Stockton has focused on driving tangible business performance in various roles, including Manager of Quebec Operations and Director of Corporate Development of Integra Gold from 2013 until the eventual sale of the Lamaque Mine to Eldorado Gold for C$590 million in 2017. Mr. Stockton thrives on innovation and social performance excellence, building collaborative solutions to serve multi-party interests that create value for shareholders and communities. Leading the efforts behind the Integra Gold Rush Challenge, and creating the #DisruptMining initiative, Mr. Stockton is a passionate believer in doing things differently to create tangible value within the mining sector.

***Sean Deissner – Vice President, Finance***

Mr. Deissner is a Chartered Professional Accountant with over 15 years of experience in the mining industry, specializing in financial reporting, corporate finance, and strategic leadership. He has held progressively senior finance roles at numerous publicly traded mining companies. Prior to joining Integra, Mr. Deissner served as a key member of the executive team at SilverCrest Metals Inc., where he led the transformation of the financial reporting function and directed the company's tax strategy and compliance initiatives, contributing to its successful acquisition for $1.7 billion by Coeur Mining Inc. in early 2025. Prior to that, Mr. Deissner spent more than seven years at Pan American Silver Corp., advancing through various finance roles to become Senior Director of Financial Reporting. In this role, he led the financial reporting team, implemented robust reporting systems, and helped guide the company's strategic financial initiatives. Mr. Deissner worked for BDO Canada LLP earlier in his career and holds a Bachelor of Commerce degree in Entrepreneurial Management from Royal Roads University.

***Cease Trade Orders, Bankruptcies, Penalties or Sanctions***

Other than as discussed below, to the knowledge of management, no director or executive officer of Integra is, as at the date of this AIF, or was, within the 10 years before the date of this AIF, a director, chief executive officer or chief financial officer or any company (including Integra), that was the subject of a cease trade order, an order similar to a cease trade order or an order that denied the relevant company access to any exemption under securities legislation, that was in effect for a period of more than 30 consecutive days, that was issued while the director or executive officer was acting in the capacity as director, chief executive officer or chief financial officer, or after the director or executive officer ceased to be a director, chief executive officer or chief financial officer and which resulted from an event that occurred while that person was acting in the capacity as director, chief executive officer or chief financial officer.

Other than as discussed below, to the knowledge of management, no director or executive officer of Integra, or shareholder holding a sufficient number of securities of Integra to affect materially the control of Integra, is, as of the date of this AIF, or has been within the 10 years before the date of this AIF, a director or executive officer of any company (including Integra) that, while the person was acting in that capacity, or within a year of that person ceasing to act in that capacity, became bankrupt, made a proposal under any legislation relating to bankruptcy or insolvency or was subject to or instituted any proceedings, arrangement or compromise with creditors or had a receiver, receiver manager or trustee appointed to hold its assets.

To the knowledge of management, no director or executive officer of Integra, or shareholder holding a sufficient number of securities of Integra to affect materially the control of Integra, is, as of the date of this AIF, or has been within the 10 years before the date of this AIF, become bankrupt, made a proposal under any legislation relating to bankruptcy or insolvency, or become subject to or instituted any proceedings,

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

arrangement or compromise with creditors, or had a receiver, receiver manager or trustee appointed to hold the assets of the director, executive officer or shareholder.

To the knowledge of management, no director or executive officer of Integra, or shareholder holding a sufficient number of securities to affect materially the control of Integra, has been subject to any penalties or sanctions imposed by a court relating to securities legislation or by a securities regulatory authority or has entered into a settlement agreement with a securities regulatory authority or has been subject to any other penalties or sanctions imposed by a court or regulatory body that would likely be considered important to a reasonable investor in making an investment decision.

Anna Ladd-Kruger was a director of Nevada Copper Corp. ("**NCU**"). In June 2024, NCU and its subsidiaries filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the District of Nevada, which was subsequently recognized in Canada under the Companies' Creditors Arrangement Act (the "**Proceedings**"). The Proceedings were subsequently completed in May 2025. On August 20, 2024, the British Columbia Securities Commission issued a Failure-to-File Cease Trade Order in respect of NCU as NCU had not filed certain periodic disclosure documents required under applicable securities law related to the interim period ended June 30, 2024. These documents were not filed in light of the Proceedings. The Failure-to-File Cease Trade Order was revoked on February 2, 2026.

***Conflicts of Interest***

To the best of Integra's knowledge, information and belief, and other than disclosed herein, there are no known existing or potential conflicts of interest among Integra and its directors, officers or other members of management as a result of their outside business interests except that certain of Integra's directors and officers serve as directors and officers of other companies, and therefore it is possible that a conflict may arise between their duties to Integra and their duties as a director or officer of such other companies. As required by law, each of the directors of Integra is required to act honestly, in good faith and in the best interests of Integra. In the event of a conflict of interest, Integra will follow the requirements and procedures of applicable corporate and securities legislation and applicable exchange policies, including the relevant provisions of the BCBCA.

***Audit Committee***

The primary function of the audit committee of the Board (the "**Audit Committee**") is to assist the Board in fulfilling its financial reporting and controls responsibilities to the shareholders of Integra. In accordance with National Instrument 52-110 – *Audit Committees* ("**NI 52-110**"), information with respect to the Audit Committee is contained below. The full text of the Audit Committee Charter is attached to this AIF as Schedule "B".

*Composition of the Audit Committee*

The Audit Committee is composed of Ms. Ladd-Kruger (Chair), Mr. Atkinson and Ms. Yang. All three members are "independent" directors and all Audit Committee members are financially literate, within the meaning of NI 52-110.

*Relevant Education and Experience*

For details regarding the relevant education and experience of each member of the Audit Committee relevant to the performance of his duties as a member of the Audit Committee, see "*Directors and Executive Officers – Director and Management Biographies*".

*Audit Committee Oversight*

At no time since the commencement of Integra's most recently completed financial year did the Board decline to adopt a recommendation of the Audit Committee to nominate or compensate an external auditor.

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

*Reliance on Certain Exemptions*

At no time since the commencement of Integra's most recently completed financial year did Integra rely on the exemption in section 2.4 (De Minimis Non-audit Services), section 3.2 (Initial Public Offerings), section 3.4 (Events Outside Control of Member), section 3.5 (Death, Disability or Resignation of Audit Committee Member), or an exemption from NI 52-110, in whole or in part, granted under Part 8 (Exemptions) of NI 52-110.

*Pre-Approval Policies and Procedures for Non-Audit Services*

All other non-audit services shall be approved or disapproved by the Audit Committee as a whole.

The pre-approval requirement is waived with respect to the provision of non-audit services if:

&nbsp;&nbsp;&nbsp;&nbsp;• the aggregate amount of all such non-audit services provided to the Company constitutes not more than five percent of the total amount of fees paid by the Company to its external auditors during the fiscal year in which the non-audit services are provided;

&nbsp;&nbsp;&nbsp;&nbsp;• such services were not recognized by the Company at the time of the engagement to be non-audit services; and

&nbsp;&nbsp;&nbsp;&nbsp;• such services are promptly brought to the attention of the Audit Committee by the Company and approved prior to the completion of the audit by the Committee or by one or more members of the Audit Committee who are members of the Board to whom authority to grant such approvals has been delegated by the Audit Committee.

The CFO of the Company shall maintain a record of non-audit services approved by the Audit Committee for each financial year and shall provide a report to the Audit Committee no less frequently than on a quarterly basis.

*External Auditor Service Fees*

The Company's independent registered public accounting firm is BDO Canada LLP, Chartered Professional Accountants, located in Vancouver, British Columbia, Public Company Accounting Oversight Board ("**PCAOB**") ID#01227. The following table sets out the aggregate fees billed by the Company's current auditor, BDO Canada LLP, and its former auditor, MNP LLP, from January 1, 2024 through December 31, 2025. BDO Canada LLP was appointed as the Company's auditor on March 27, 2025, replacing MNP LLP. Only fees billed by MNP LLP in its capacity as auditor are included in the following table.

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| | | | |
|:---|:---|:---|:---|
| | **Year ended December 31, 2024<br>MNP LLP** | **Year ended December 31, 2025<br>MNP LLP** | **Year ended December 31, 2025<br>BDO Canada LLP** |
| Audit fees<sup>(1)</sup> | C$313,829 | C$486,838 | C$475,000 |
| Audit related fees<sup>(2)</sup> | C$31,541 | - | - |
| Tax fees<sup>(3)</sup> | - | - | C$25,000 |
| All other fees<sup>(4)</sup> | - | - | - |
| **Total** | **C$345,370** | **C$486,838** | **C$500,000** |

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**Notes**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.Audit Fees refers to the aggregate fees billed by the Company's external auditor for audit services, including fees incurred in relation to the audit of Integra's annual consolidated financial statements, quarterly reviews, reviews of securities filings and statutory audits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Audit-Related Fees refers to the aggregate fees billed for assurance and related services by the Company's external auditor that are reasonably related to the performance of the audit or review of the Company's financial statements and not reported under Audit Fees. Audit-Related Fees include due diligence, comfort letters and consents related to financings and proposed transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Tax Fees refers to the aggregate fees billed for professional services rendered by the Company's external auditor for tax compliance, tax advice, and tax planning.

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**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.All Other Fees refers to the aggregate fees billed for services provided by the Company's external auditor, other than the services reported under Audit Fees, Audit-Related Fees and Tax Fees.

**LEGAL AND REGULATORY ACTIONS**

Except as disclosed below, since the beginning of the most recently completed financial year for which financial statements of Integra are included in this AIF, there have been no legal proceedings to which Integra is or was a party or of which any of its projects is or was the subject of, nor are any such proceedings known to Integra to be contemplated.

During the past financial year, Integra has not had any penalties or sanctions imposed on it by, or entered into any settlement agreements with, a court or a securities regulatory authority relating to securities laws, nor has Integra been subject to any other penalties or sanctions imposed by a court or regulatory body that would likely be considered important to a reasonable investor in making an investment decision.

Alio, a subsidiary of the Company since November 8, 2024, received a Notice of Civil Claim in May 2019 from a former shareholder of Rye Patch whose shares were acquired by Alio. The plaintiff brought the claim in the Supreme Court of British Columbia ("**the Court**") pursuant to the Class Proceedings Act and is seeking damages against Alio for alleged misrepresentations with respect to anticipated gold production during the year ended December 31, 2018. In March 2021, the Court dismissed, in its entirety, the plaintiff's application to certify the action as a class proceeding. In April 2021, the Company received notice that the plaintiff is pursuing an appeal of the court's decision to dismiss the plaintiff's certification application.

The appeal was argued in the Court of Appeal in January 2022 and in March 2022 the Court of Appeal released its decision allowing the appeal but remitting the matter of certification to the trial court for further consideration. On July 28, 2023, the Court certified a class proceeding against Alio. Pursuant to the Court's decision, the class members in the class proceeding include all individuals or entities whose Rye Patch shares were acquired by Alio in exchange for Alio common shares and cash as part of the plan of arrangement entered into between Alio and Rye Patch, but excludes all of those individuals or entities that sold their shares in Alio prior to August 10, 2018. The proceeding is currently before the British Columbia Supreme Court on a summary trial application in regards to the certified common issues brought by the plaintiff. The summary trial application hearing took place between June and October 2025, and the Court's decision has not yet been released.

The Company has reviewed the claim and is of the view that it is without merit. However, the outcome of the claim is not determinable at this time. Accordingly, the Company did not recognize any liability in connection with this claim upon the acquisition of Florida Canyon and has not recorded a liability as at December 31, 2025.

**INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS**

Except as disclosed elsewhere in this AIF, no (a) director or executive officer, (b) person or company that beneficially owns, controls or directs, directly or indirectly, more than 10% of the Common Shares, nor (c) associate or affiliate of any of the persons or companies referred to in (a) or (b) has, or has had within the three most recently completed financial years before the date hereof, any material interest, direct or indirect, in any transaction that has materially affected or is reasonably expected to materially affect the Company or any of its subsidiaries.

**TRANSFER AGENT AND REGISTRAR**

The registrar and transfer agent of the Common Shares is Odyssey Trust Company at its principal offices in Toronto, Ontario.

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**MATERIAL CONTRACTS**

The only material contracts entered into by the Company within the financial period ended December 31, 2025 or since such time or before such time that are still in effect, other than those in the ordinary course of business, are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Loan Agreement and the Third, Fourth, Fifth and Sixth Supplemental Agreements. See "*General Development of the Business – Three Year History*".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wheaton IRA. See "*General Development of the Business – Three Year History*".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ROFR Agreement. See "*General Development of the Business – Three Year History*".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Warrant Indenture. See "*General Development of the Business – Three Year History*".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 2026 Underwriting Agreement. See "*General Development of the Business – Three Year History*".

A copy of each of the agreements and contracts listed above are available under Integra's profile on the SEDAR+ website at <u>www.sedarplus.ca</u> and on EDGAR at <u>www.sec.gov</u>.

**INTERESTS OF EXPERTS**

Information of a scientific or technical nature regarding the Projects included in this AIF is based upon the Florida Canyon Report, the DeLamar Report and the Nevada North Report. The authors of the Florida Canyon Report, the DeLamar Report and the Nevada North Report own, directly or indirectly, less than 1% of the outstanding securities of Integra.

Unless otherwise indicated, the scientific and technical information contained in this AIF relating to the Projects has been reviewed and approved by James Frost, P.Eng., the Company's Director, Technical Services, and a qualified person within the meaning of NI 43-101. As of the date hereof, Mr. Frost holds nil Common Shares and 8,224 RSUs.

The independent auditors of Integra for the financial year ended December 31, 2025 are BDO Canada LLP. BDO Canada LLP has informed Integra that it is independent with respect to Integra within the meaning of the Code of Professional Conduct of the Chartered Professional Accountants of British Columbia and the rules of the SEC and the PCAOB on auditor independence.

The independent auditors of Integra for the financial year ended December 31, 2024 were MNP LLP. MNP LLP has informed Integra that it was independent with respect to Integra during the period of its engagement as auditor, within the meaning of the Code of Professional Conduct of the Chartered Professional Accountants of British Columbia and the rules of the SEC and the PCAOB on auditor independence.

**ADDITIONAL INFORMATION**

Additional information including directors' and officers' remuneration and indebtedness, principal holders of the Company's securities and options to purchase Common Shares and securities authorized for issuance under equity compensation plans is contained in the management proxy circular dated May 14, 2025, for the annual general meeting of the Company held on June 27, 2025, which is available on SEDAR+ at <u>www.sedarplus.ca</u> and EDGAR at <u>www.sec.gov</u>. Additional financial information about Integra can be found in Integra's financial statements and Management's Discussion and Analysis for the fiscal year ended December 31, 2025. Additional information relating to Integra may be found on SEDAR+ at <u>www.sedarplus.ca</u> and EDGAR at <u>www.sec.gov</u>.

------

**Annual Information Form**

Year Ended December 31, 2025

All amount in USD unless otherwise stated

**SCHEDULE "A"**

**Glossary**

In this AIF, the following terms have the meaning assigned to them below:

"**AA**" means Atomic Absorption assaying procedure.

"**AAL**" means American Assay Laboratories in Sparks, Nevada.

"**Admiral**" means Admiral Financial Group.

"**ADR**" means Adsorption, Desorption, Recovery.

"**AI**" means artificial intelligence.

"**AIC**" means all-in cost.

"**AISC**" means all-in sustaining costs.

"**Ag**" means silver.

"**Ag/t**" means silver per tonne.

"**AIF**" or "**Annual Information Form**" means this annual information.

"**Alio**" means Alio Gold Inc.

"**Apollo**" means Apollo Gold Corporation.

"**Argonaut**" means Argonaut Gold Inc.

"**Arrangement Agreement**" means a definitive agreement dated July 28, 2024 between Integra and FCGI pursuant to which Integra agreed to acquire all of the issued and outstanding common shares of FCGI by way of a court-approved plan of arrangement.

"**Au**" means gold.

"**Au/t**" means gold per tonne.

"**AuEq**" means gold equivalent, representing a combination of gold and silver as calculated and noted herein.

"**Beedie Capital**" means Beedie Investments Ltd.

"**BCBCA**" means the Business Corporations Act (British Columbia).

"**BLM**" means the United States Bureau of Land Management.

"**Board**" means the board of directors of Integra.

"**2023 Brokered Offering**" means the bought deal private placement of 14,000,000 post-Consolidation 2023 Subscription Receipts at a price of C$1.75 per post-Consolidation 2023 Subscription Receipt for gross proceeds of C$24.5 million.

"**Canyon**" means the Canyon Resources Corp.

"**CEO**" means chief executive officer.

"**Cerro Colorado**" means the Cerro Colorado Property.

"**CFO**" means chief financial officer.

"**CIC**" means carbon-in-column.

"**Clover Nevada**" means the Clover Nevada Limited Liability Company.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

"**Clover Royalty**" means the NSR reserved by Clover Nevada on the Wildcat deposit.

"**cm**" means centimeters.

"**Code**" means Integra's Code of Business Conduct and Ethics.

"**Common Shares**" means common shares without par value in the capital of Integra.

"**Company**" means Integra Resources Corp.

"**Consolidation**" means the May 26, 2023 2.5 to 1 consolidation of the Company's Common Shares.

"**Continuation**" means the continuation of the Company from the Province of Ontario to the Province of British Columbia described under the heading "Name, Address and Incorporation".

"**COO**" means chief operating officer.

"**Cordex**" means Cordilleran Explorations.

"**core**" means diamond-core.

"**Court**" means the Supreme Court of British Columbia.

"**CRMs**" means certified reference materials.

"**cut-off grade**" means the grade of mineralization, established by reference to economic factors, above which material is included in mineral deposit resource/reserve calculations and below which the material is considered waste. Cut-off grade may be either an external cut-off grade. An external cut-off refers to the grade of mineralization used to control the external or design limits of a pit or underground mine based on the expected economic parameters of the operation. An internal cut-off grade refers to the minimum grade required for blocks of mineralization present within the confines of an open pit to be included in mineral deposit estimates.

**"DeLamar Area**" is the mineral claims forming part of the DeLamar Project as well as proximate mineral interests acquired by Integra.

"**DeLamar Project**" means the Company's mineral project in Idaho as described in the DeLamar Report, comprising the DeLamar Area and the Florida Mountain Area.

"**DeLamar Report**" means the "Feasibility Study and Technical Report on the DeLamar Project, Owyhee County, Idaho, USA" dated February 2, 2026, with an effective date of December 8, 2025.

"**DMC**" means DeLamar Mining Company.

"**DSUs**" means deferred share units.

"**EA**" means Environmental Assessment.

"**Earth Resources**" means Earth Resources Corporation.

"**EDGAR**" means the Electronic Data Gathering and Retrieval System.

"**EIS**" means environmental impact statement.

"**EPCM**" means engineering, procurement and construction management.

"**EPO**" means Exploration Plan of Operations.

"**2023 Escrow Release Conditions**" means certain release conditions (including the satisfaction of all conditions precedent to the completion of the Millennial Transaction other than the issuance of the Common Shares to shareholders of Millennial) related to the 2023 Brokered Offering.

"**2024 Escrow Release Conditions**" means certain release conditions (including the satisfaction of all conditions precedent to the completion of the Florida Canyon Transaction other than the issuance of the Common Shares to shareholders of FCGI).

"**ESTMA**" means the Extractive Sector Transparency Measures Act (Canada).

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

"**Exchange Act**" means United States Securities Exchange Act of 1934, as amended.

"**exploration**" means the prospecting, mapping, geophysics, compilation, diamond drilling and other work involved in searching for ore bodies.

"**Facility**" means the Beedie Capital convertible debenture facility under the Loan Agreement, as amended.

"**Fee Tracts**" means the four patented lode claims on the Wildcat deposit.

"**FCGI**" means Florida Canyon Gold Inc.

"**FCGI Shares**" means the common shares of Florida Canyon Gold Inc.

"**FCMI**" means Florida Canyon Mining Inc.

"**Fifth Supplemental Agreement**" means the fifth supplemental agreement to the Loan Agreement dated November 8, 2024.

"**Florida Canyon Mine**" or "**FCM**" means the Florida Canyon mine.

"**Florida Canyon Report**" means the technical report regarding the Florida Canyon Mine prepared for FCGI and entitled "NI 43-101 Technical Report, Florida Canyon Gold Mine, Pershing County, Nevada, USA" dated July 11, 2024 with an effective date of June 28, 2024.

"**Florida Canyon Transaction**" means a court-approved plan of arrangement between Integra and FCGI pursuant to which Integra acquired all of the issued and outstanding FCGI Shares.

"**Florida Mountain Area**" is the mineral claims forming part of the DeLamar Project that was not acquired from Kinross as well as proximate mineral interests acquired by Integra.

"**FONSI**" means Finding of No Significant Impact.

"**forward-looking statements**" means "**forward-looking statements**" or "**forward-looking information**" within the meaning of applicable Canadian and United States securities legislation.

"**Fourth Supplemental Agreement**" means the fourth supplemental agreement to the Loan Agreement dated July 28, 2024.

"**Franco-Nevada**" means Franco-Nevada Corporation.

"**ft**" means feet.

"**G&A**" means general and administrative.

"**g**" means grams.

"**g Ag/t**" means grams per tonne silver.

"**g Au/t**" means grams per tonne gold.

"**Golden Queen**" means Golden Queen Mining Co. Ltd.

"**gpm**" means gallons per minute.

"**g/t**" means grams per metric tonne. Ex. g/t Au = grams per tonne gold.

"**grade**" means the amount of valuable mineral in each ton of mineralized material, expressed as troy ounces (or grams) per ton (or tonne) of gold or other precious metal or as a percentage of copper or other base metal or mineral.

"**GreenLight**" means Green Light Metals Inc.

"**GreenLight Shares**" means the common shares of GreenLight.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

"**Harlan Claims**" are the 16 claims of which Clover Nevada has undivided 50% ownership and the Wittkopp Trust has the other undivided 50% ownership. The Wittkopp Trust has leased their undivided 50% ownership to Clover Nevada under the Wittkopp Lease.

"**HCSM**" means hydrogeological conceptual site model.

"**Homestake**" means Homestake Mining Company.

"**ICP**" means inductivity coupled plasma optical-emission spectrometry.

"**ICP-MS**" means ICP and mass spectrometry.

"**IDL**" means Idaho Department of Lands.

"**IFRS**" means the IFRS Accounting Standards, as issued by the International Accounting Standards Board.

"**Indicated Mineral Resource**" is that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics are estimated with sufficient confidence to allow the application of Modifying Factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit.

"**Inferred Mineral Resource**" is that part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality of continuity.

"**Initial Advance**" is the initial advance set out in the Loan Agreement in the amount of US$5,000,000 subject to satisfaction of certain conditions.

"**Integra**" or the "**Company**" means Integra Resources Corp.

"**Integra Gold**" means Integra Gold Corp.

"**Interests**" means membership interest.

"**IRR**" means internal rate of return.

"**2024 Issue Price**" means C$1.35 per 2024 Subscription Receipt.

"**Jack Claims**" means the 52 claims of which Clover Nevada has undivided 50% ownership and the Wittkopp Trust the other undivided 50% ownership. The Wittkopp Trust has leased their undivided 50% ownership to Clover Nevada under the Wittkopp Lease.

"**Kemco**" means Kincaid Exploration and Mining Co.

"**Kennecott**" means Kennecott Copper Corporation.

"**kg**" means kilograms.

"**Kinross**" means Kinross Gold Corporation.

"**km**" means kilometers.

"**kV**" means kilovolt.

"**kWh**" means kilowatt hour.

"**Lac Minerals**" means Lac Minerals (USA) Limited Liability Company.

"**Loan Agreement**" means the convertible loan agreement between Beedie Capital and Integra dated July 28, 2022.

"**LOM**" means life of mine.

"**m**" means meters.

"**MAPCO**" means Mid Atlantic Petroleum Company.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

"**McClelland**" means McClelland Laboratories.

"**Measured Mineral Resource**" is that part of a Mineral Resource for which quantity, grade or quality, densities, shape, and physical characteristics are estimated with confidence sufficient to allow the application of Modifying Factors to support detailed mine planning and final evaluation of the economic viability of the deposit.

"**Micon**" means Micon International Limited.

"**Mineral deposit, deposit or mineralized material**" means a mineralized body, which has been physically delineated by sufficient drilling, trenching, and/or underground work, and found to contain a sufficient average grade of metal or metals to warrant further exploration and/or development expenditures. Such a deposit does not qualify to be defined as a commercially minable ore body or as containing ore reserves or resources, until final legal, technical, and economic factors have been resolved in an appropriate technical report.

"**mineralization**" means rock containing an apparent, if undetermined amount of minerals or metals.

"**Millennial**" means the Millennial Precious Metals Corp.

"**Millennial Arizona**" means the Millennial Arizona LLC.

"**Millennial NV**" means the Millennial NV LLC.

"**Millennial Transaction**" means an at-market merger with Millennial pursuant to which Integra acquired all of the issued and outstanding shares of Millennial by way of a court-approved plan of arrangement under the BCBCA.

"**Mineral Reserve**" is the economically mineable part of a Measured and/or Indicated Mineral Resource. It includes diluting materials and allowances for losses, which may occur when the material is mined or extracted and is defined by studies at Pre-Feasibility or Feasibility level as appropriate that include application of Modifying Factors. Such studies demonstrate that, at the time of reporting, extraction could reasonably be justified.

"**Mineral Resource**" is a concentration or occurrence of solid material of economic interest in or on the Earth's crust in such form, grade or quality and quantity that there are reasonable prospects for eventual economic extraction as determined in the judgment of a QP in respect of the technical and economic factors likely to influence the prospect of economic extraction.

"**Mineral Resources and Reserves**" (ref. CIM Definition Standards - For Mineral Resources and Mineral Reserves Prepared by the CIM Standing Committee on Reserve Definitions, Adopted by CIM Council on May 10, 2014).

"**MJDS**" means the multi-jurisdictional disclosure system.

"**mm**" means millimeters.

"**Modifying Factors**" are considerations used to convert Mineral Resources to Mineral Reserves. These include, but are not restricted to, mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social and governmental factors.

"**Monex**" means Monex Explorations.

"**Montoro**" means Montoro Gold Company.

"**Mountain View claims**" means the seven claims of which Bankruptcy successor(s) of Robert L. Helms Construction & Development Co. have undivided 90% ownership (which is not leased by Clover Nevada), Clover Nevada has undivided 5% ownership and the Estate of Raymond W. Wittkopp has undivided 5% ownership. The Estate of Raymond W. Wittkopp has leased their undivided 5% to Clover Nevada under the Wittkopp Lease.

"**MPO**" means Mine Plan of Operations.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

"**MSN**" means Millennial Silver Nevada Inc.

"**NDEP-BMRR**" means Nevada Division of Environmental Protection – Bureau of Mining Regulation and Reclamation.

"**NDWR**" means Nevada Department of Water Resources.

"**NEPA**" means the National Environmental Policy Act.

"**NERCO**" means NERCO Mineral Company.

"**NCU**" means Nevada Copper Corp.

"**Nevada North Project**" or "**Nevada North**" means the Wildcat and Mountain View deposits.

"**Nevada North Report**" means "NI 43-101 Technical Report Preliminary Economic Assessment for the Wildcat and Mountain View Projects, Pershing and Washoe Counties, Nevada, USA" dated July 30, 2023, with an effective date of June 28, 2023.

"**Nevoro**" means Nevoro Gold Inc.

"**NI 43-101**" means National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

"**NI 52-109**" means National Instrument 52-109 – Certification of Disclosure in Issuers' Annual and Interim Filings.

"**NI 52-110**" means National Instrument 52-110 – Audit Committees.

"**Non-GAAP Measures**" means financial measures that are not defined under IFRS and are used by the Company to provide additional information about its performance.

"**Nominating Threshold**" means 10% of the Company's issued and outstanding Common Shares with respect to Beedie Capital's right to nominate an individual to the Board.

"**NSR**" means a royalty payment based on the value of gross metal production from the property, less deduction of certain limited costs including smelting and refining, as defined by contract.

"**2023 Non-Brokered Offering**" means an agreement between the Company, Wheaton, and a wholly-owned subsidiary of Wheaton, pursuant to which Wheaton agreed to purchase the lesser of: (a) C$15 million of 2023 Subscription Receipts at the 2023 Issue Price; (b) such number of 2023 Subscription Receipts that would result in Wheaton owning 9.9% of the issued and outstanding Common Shares (following the completion of the proposed Millennial Transaction and the conversion of the 2023 Subscription Receipts issuable to Wheaton and pursuant to the 2023 Brokered Offering); and (c) 30% of the combined 2023 Subscription Receipts to be issued to Wheaton and investors in the 2023 Brokered Offering.

"**NPV**" means net present value.

"**NYSE American**" means the NYSE American, LLC.

"**OBCA**" means the Ontario Business Corporations Act, R.S.O. 1990, c. B. 16.

"**ore**" means a natural aggregate of one or more minerals which, at a specified time and place, may be mined and sold at a profit, or from which some part may be profitably separated.

"**ounce (oz)**" means a Troy ounce.

"**oxidized**" means mineralized rock in which some of the original minerals have been oxidized by natural processes.

"**PCAOB**" means the Public Company Accounting Oversight Board (United States).

"**Pegasus**" means Pegasus Gold Corporation.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

"**preliminary economic assessment**" or "**PEA**" means a study, other than a pre-feasibility or feasibility study (as defined in NI 43-101), that includes an economic analysis of the potential viability of Mineral Resources.

"**Probable Mineral Reserve**" is the economically mineable part of an Indicated, and in some circumstances, a Measured Mineral Resource. The confidence in the Modifying Factors applying to a Probable Mineral Reserve is lower than that applying to a Proven Mineral Reserve.

"**Proceedings**" is a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the District of Nevada, which was subsequently recognized in Canada under the Companies' Creditors Arrangement Act that was filed by NCU and its subsidiaries.

"**Projects**" means the Florida Canyon Mine, the DeLamar Project and the Nevada North Project collectively.

"**Proven Mineral Reserve**" is the economically mineable part of a Measured Mineral Resource. A Proven Mineral Reserve implies a high degree of confidence in the Modifying Factors.

"**2026 Public Offering**" means the bought deal public offering of 18,121,600 Common Shares at a price of $3.40 per Common Share for gross proceeds of $61,613,440.

"**QA/QC**" means quality assurance and quality control.

"**QP**" means a "**qualified person**" for the purpose of NI 43-101.

"**Rangefront**" means Rangefront Geological.

"**Relationship Agreement**" means the relationship agreement between the Company and the Shoshone-Paiute Tribes of the Duck Valley Indian Reservation.

"**RESPEC**" means RESPEC Company LLC.

"**RSUs**" means restricted share units.

"**Rich Claims**" is the 52 claims of which Clover Nevada has 100% ownership; these claims are subject to the terms of the Wittkopp Lease.

"**ROD**" means Record of Decision.

"**ROFR**" means a right of first refusal agreement dated May 4, 2023 between the Company and Wheaton entities providing Wheaton a right of first refusal on precious metals royalties, streams or pre-pays pertaining to any properties of Integra or its affiliates, including the Millennial properties acquired in the Millennial Transaction, and any properties Integra acquires in the future within a five kilometer radius of the outer perimeter of the foregoing properties or is otherwise acquired in connection with or for the use of the projects held by Integra (including the Millennial properties acquired in the Millennial Transaction).

"**ROM**" means run-of-mine.

"**Rye Patch**" means Rye Patch Gold Corp.

"**Sarbanes-Oxley Act**" means Section 404(a) of the Sarbanes-Oxley Act of 2002.

"**SEC**" means United States Securities and Exchange Commission.

"**Second Advance**" is a second advance set out in the Fourth Supplemental Agreement in the amount of US$5,000,000 subject to satisfaction of certain conditions.

"**SGMI**" means Standard Gold Mining Inc.

"**Shoshone-Paiute Tribes**" means the Shoshone-Paiute Tribes of the Duck Valley Indian Reservation.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

"**SilverCrest**" means SilverCrest Metals Inc.

"**Sixth Supplemental Agreement**" means the sixth supplemental agreement to the Loan Agreement dated March 11, 2025.

"**2023 Subscription Receipt Agreement**" is the subscription receipt agreement dated March 16, 2023 as among the Company, TSX Trust Company as the subscription receipt agent, the 2023 Underwriters and Wheaton.

"**2023 Subscription Receipt**" represented the right of a holder to receive, upon satisfaction or waiver of certain release conditions, without payment of additional consideration, one Common Share, subject to adjustments and in accordance with the terms and conditions of a subscription receipt agreement dated March 16, 2023.

"**2024 Subscription Receipt**" represented the right of a holder to receive, upon satisfaction or waiver of certain release conditions (including the satisfaction of all conditions precedent to the completion of the Florida Canyon Transaction other than the issuance of the Common Shares to shareholders of FCGI) without payment of additional consideration, one Common Share, subject to adjustments and in accordance with the terms and conditions of a subscription receipt agreement dated August 21, 2024.

"**Third Supplemental Agreement**" means the third supplemental agreement to the Loan Agreement dated February 21, 2024.

"**Triple Flag**" means Triple Flag Precious Metals Corp.

"**tonne**" or "**t**" means a metric tonne (1,000 kilograms).

"**Torex**" means Torex Gold Resources Inc.

"**Touchstone**" means Touchstone Resources Company Inc.

"**TSX-V**" means the TSX Venture Exchange.

"**Underwriters**" means a syndicate of underwriters led by Cormark Securities Inc., and including BMO Nesbitt Burns Inc., Desjardins Securities Inc., Eight Capital, Ventum Financial Corp., Raymond James Ltd. and Stifel Nicolaus Canada Inc.

"**2023 Underwriters**" means Raymond James Ltd., BMO Capital Markets and Cormark Securities Inc.

"**2024 Underwriters**" means Stifel Nicolaus Canada Inc. and Eight Capital.

"**2026 Underwriters**" means a syndicate of underwriters led by Canaccord Genuity Corp. and Stifel Nicolaus Canada Inc. as co-lead underwriters and joint bookrunners, and including ATB Capital Markets Corp., Desjardins Securities Inc. and Raymond James Ltd.

"**2026 Underwriting Agreement**" means a definitive underwriting agreement dated February 9, 2026 as among the Company and the 2026 Underwriters pursuant to which Integra issued a total of 18,121,600 Units.

"**Unit Offering**" means bought deal public offering pursuant to which Integra issued 16,611,750 units, including the full exercise of the over-allotment option by a syndicate of underwriters, at a price of C$0.90 per Unit for aggregate gross proceeds of C$14,950,575.

"**Units**" or "**Unit**" means the units issued by Integra pursuant to the Unit Offering where each Unit was comprised of one Common Share and one-half (½) of one Warrant.

"**unpatented mining claim**" means a mining claim located on the public lands of the United States or Canada, for which a patent has not been issued. An unpatented mining claim is a possessory interest only, subject to the paramount title of the United States or Canada. The validity of an unpatented mining claim depends upon compliance with mining codes and payment of applicable taxes.

"**U.S. GAAP**" means United States generally accepted accounting principles.

"**VCIC**" means vertical carbon-in-column.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

"**vein**" means an epigenetic mineral filling of a fault or other fracture in a host rock often composed of quartz, carbonate, metal sulphides or precious metals.

"**War Eagle Mountain**" means the state lease encompassing the War Eagle gold-silver Deposit situated in the DeLamar District, southwestern Idaho.

"**Warrant**" means a Common Share purchase warrant issued pursuant the Unit Offering.

"**Warrant Indenture**" means a warrant indenture between the Company and TSX Trust Company dated March 13, 2024.

"**Waterton**" means Waterton Precious Metals Fund II Cayman, LP.

"**Wheaton**" means Wheaton Precious Metals Corp.

"**Wheaton IRA**" means an investor rights agreement dated March 16, 2023 between the Company and Wheaton entities providing Wheaton with certain participation rights in future equity offerings by Integra.

"**Wheaton Royalty Transaction**" means a binding agreement between Integra's wholly-owned subsidiary, DeLamar Mining Company, and Wheaton Precious Metals (Cayman) Co., a wholly-owned subsidiary of Wheaton, pursuant to which Wheaton Precious Metals (Cayman) Co. acquired a 1.5% net smelter returns royalty on metal production from all claims of the DeLamar Project for an aggregate cash purchase price of US$9.75 million, to be paid in two installments. The first instalment of US$4.875 million was received by Integra on March 8, 2024. The second installment of US$4.875 million was received on July 12, 2024.

"**Wittkopp Lease**" means the lease/option agreement for mineral claims on the Mountain View deposit dated June 30, 2000.

"**Wittkopp Trust**" is the Wittkopp Family 1997 Trust whose trustee is Leslie A. WittKopp.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

**SCHEDULE "B"**

**Audit Committee Charter**

**INTEGRA RESOURCES CORP.**

**CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS**

**1. Mandate**

The primary function of the audit committee (the "Committee") is to assist the Board of Directors (the "Board") in fulfilling its financial oversight responsibilities with respect to the financial reports and other financial information provided by the senior management of Integra Resources Corp. (the "Company") to regulatory authorities and shareholders, the Company's systems of internal controls regarding finance and accounting, and the Company's auditing, accounting and financial reporting processes. Consistent with this function, the Committee will encourage continuous improvement of, and should foster adherence to, the Company's policies, procedures, and practices at all levels. The Committee's primary duties and responsibilities are to:

&nbsp;&nbsp;&nbsp;&nbsp;• serve as an independent and objective party to oversee the Company's accounting and financial reporting processes and internal control system;

&nbsp;&nbsp;&nbsp;&nbsp;• review the Company's financial statements;

&nbsp;&nbsp;&nbsp;&nbsp;• oversee the audit of the Company's financial statements;

&nbsp;&nbsp;&nbsp;&nbsp;• oversee the Company's compliance with legal and regulatory requirements as they relate to accounting and financial controls and anti-corruption and bribery issues;

&nbsp;&nbsp;&nbsp;&nbsp;• oversee, review and appraise the independence and the performance of the Company's external auditors; and

&nbsp;&nbsp;&nbsp;&nbsp;• provide an open avenue of communication among the Company's auditors, senior management and the Board.

**2. Composition and Operation**

The Committee shall be comprised of three or more directors as determined by the Board. Each of these directors shall be "independent" as required by the applicable rules of the Company's regulators, including Rule 10A-3 of the United States Securities Exchange Act of 1934, as amended, and Sections 803A and 803B(2) of the NYSE American LLC Company Guide). No member of the Committee is permitted to have participated in the preparation of the financial statements of the Company or any current subsidiary at any time during the past three years.

All members of the Committee shall be, in the determination of the Board, "financially literate", as that term is defined by National Instrument 52-110 - Audit Committees, as amended from time to time. Each member of the Committee shall be able to read and understand fundamental financial statements, including the Company's balance sheet, income statement, and cash flow statement. At least one member of the Committee must be "financially sophisticated," as that term is defined in Section 803B of the NYSE American LLC Company Guide, and must be an "audit committee financial expert" as defined in Item 407(d)(5)(ii) and (iii) of Regulation S-K.

The Committee members shall be appointed by the Board annually and the Board may at any time remove or replace any member of the Committee and may fill any vacancy with another Board member, as required. In addition, the Board shall appoint a chair (the "Chair") from among the Committee members. If the Chair is not present at any meeting of the Committee, one of the other Committee

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

members present at the meeting shall be chosen by the Committee to preside as the chairperson at the meeting.

The Committee shall meet at least quarterly, or more frequently as circumstances dictate. As part of its role to foster open communication, the Committee will meet at least annually with the Chief Financial Officer and the external auditors in separate sessions.

A majority of members shall constitute a quorum for meetings of the Committee, present in person or via telephone or via other telecommunication device that permits all persons participating in the meeting to speak and hear one another. Members shall be provided with a minimum of 48 hours' notice of meetings. The notice period may be waived by a quorum of the Committee. The Committee shall fix its own procedures for meetings, keep records of its proceedings, and report to the Board routinely. The Committee shall hold in-camera sessions at each meeting, during which the members of the Committee shall meet in the absence of management.

The Committee may act by unanimous written consent of its members. A resolution approved in writing by the members of the Committee shall be valid and effective as if it had been passed at a duly called meeting.

No business may be transacted by the Committee except at a meeting of its members at which a quorum of the Committee is present, or by a unanimous written consent. <br>

**3. Responsibilities and Duties**

To fulfill its responsibilities and duties, the Committee shall:

*Documents/Reports Review*

• review this Charter annually, and recommend to the Board any necessary amendments;

• review the Code of Business Conduct and Ethics annually, and recommend to the Board any necessary amendments;

• review the Anti-Bribery and Anti-Corruption Policy annually, and recommend to the Board any necessary amendments;

• review the Investment Policy annually, and recommend to the Board any necessary amendments;

• review the Whistle Blower Policy annually, and recommend to the Board any necessary amendments;

• review and recommend to the Board for approval the audited annual financial statements, with the report of the external auditor, and corresponding management's discussion and analysis prior to public dissemination and filing with securities regulatory authorities;

• review and approve, or recommend to the Board for approval, the quarterly financial statements of the Company and corresponding management's discussion and analysis prior to public dissemination and filing with securities regulatory authorities;

• review any other financial disclosure documents that contain material financial information about the Company requiring approval by the Board prior to public dissemination and/or filing with any governmental and/or regulatory authority, including, but not limited to press releases, annual reports, annual information forms, and prospectuses or registration statements; and

• review the Company's disclosure in the Management Information Circular including Committee's composition and responsibilities and how they are discharged.

*External Auditors*

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

"External auditor" as used here shall mean any registered public accounting firm engaged for the purpose of preparing or issuing an audit report or performing other audit, review, or attest services for the Company. Each such external auditor shall report directly to the Committee. With respect to the external auditor, the Committee shall:

• review annually the performance of the external auditors who shall be ultimately accountable to the Board and the Committee as representatives of the shareholders of the Company;

• make recommendations to the Board with respect to the compensation of the external auditor, assess whether fees and any other compensation to be paid to the external auditor for audit or non-audit services are appropriate to enable an audit to be conducted and to maintain the independence of the external auditor;

• obtain annually, a formal written statement of external auditors setting forth all relationships between the external auditors and the Company, consistent with The Public Company Accounting Oversight Board Rule 3526;

• review and discuss with the external auditors any disclosed relationships or services that may impact the objectivity and independence of the external auditors;

• take, or recommend that the full Board take, appropriate action to oversee the independence of the external auditors;

• recommend to the Board the appointment, retention and replacement of the external auditors nominated annually for shareholder approval;

• oversee the work of the external auditor, including the resolution of disagreements between management and the external auditor regarding financial reporting;

• at each year-end audit meeting, consult with the external auditors, without the presence of management, about the quality of the Company's accounting principles, internal controls and the completeness and accuracy of the Company's financial statements;

• review and approve the Company's hiring policies regarding partners, employees and former partners and employees of the present and former external auditors of the Company;

• review with management and the external auditors the audit plan for the year-end financial statements;

• review with management and the external auditor any correspondence with securities regulators or other regulatory or government agencies which raise material issues regarding the Company's financial reporting or accounting policies; and

• review and pre-approve all audit and audit-related services and the fees and other compensation related thereto, and any non-audit services, provided by the Company's external auditors. The pre-approval requirement is waived with respect to the provision of non-audit services if:

othe aggregate amount of all such non-audit services provided to the Company constitutes not more than five percent of the total amount of fees paid by the Company to its external auditors during the fiscal year in which the non-audit services are provided;

osuch services were not recognized by the Company at the time of the engagement to be non-audit services; and

osuch services are promptly brought to the attention of the Committee by the Company and approved prior to the completion of the audit by the Committee or by one or more members of the Committee who are members of the Board to whom authority to grant such approvals has been delegated by the Committee.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

The Chief Financial Officer of the Company shall maintain a record of non-audit services approved by the Audit Committee for each financial year and shall provide a report to the Audit Committee no less frequently than on a quarterly basis.

*Financial Reporting Processes*

• in consultation with the external auditors, review with management the integrity of the Company's financial reporting process, both internal and external;

• consider the external auditors' judgments about the quality and appropriateness of the Company's accounting principles as applied in its financial reporting;

• consider and approve, if appropriate, changes to the Company's auditing and accounting principles and practices as suggested by the external auditors and management;

• review significant judgments made by management in the preparation of the financial statements and the view of the external auditors as to appropriateness of such judgments;

• following completion of the annual audit, review separately with management and the external auditors any significant difficulties encountered during the course of the audit, including any restrictions on the scope of work or access to required information;

• review any significant disagreement among management and the external auditors in connection with the preparation of the financial statements. Where there are significant unsettled issues, the Committee shall ensure that there is an agreed course of action for the resolution of such matters;

• review with the external auditors and management the extent to which changes and improvements in financial or accounting practices have been implemented;

• establish a procedure for the receipt, retention and treatment of complaints received by the Company regarding accounting, internal accounting controls or auditing matters;

• review certification process;

• establish a procedure for the confidential, anonymous submission by employees of the Company of concerns regarding questionable accounting or auditing matters;

• carry out a review designed to ensure that effective "whistle blowing" procedure exists to permit stakeholders to express any concerns regarding accounting, internal controls, auditing matters or financial matters to an appropriately independent individual; and

• review any related-party transactions.

*Ethical and Legal Compliance* 

• review the integrity of the Chief Executive Officer (the "CEO") and other senior management and ensure that the CEO and other senior management strive to create a culture of integrity throughout the Company;

• review the adequacy, appropriateness and effectiveness of the Company's policies and business practices which impact on the financial integrity of the Company, including those relating to insurance, accounting, information services and systems, financial controls and management reporting.

*Risk Management and Evaluation*

• ensure systems are in place to identify principal risks of the Company's businesses and ensure appropriate procedures are in place to manage those risks and to address and comply with applicable regulatory, corporate, securities and other legal requirements. Specifically, the Committee shall ensure that procedures are in place to comply with the law, the Company's Articles of Incorporation, the

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

Company's Code of Business Conduct and Ethics, all exemption orders issued in respect of the Company by applicable securities regulatory authorities, and all other significant Company policies and procedures;

• in conjunction with any other committees designated by the Board from time to time, review major financial, audit and accounting related risks and the policies, guidelines and mechanisms that management has put in place to govern the process of monitoring, controlling and reporting such risks;

• review any material breaches and ensure that proposed action is adequate and that measures are put in place to prevent future breaches;

• oversee and advise the Board on the Company's principal risks, risk strategy, and effectiveness of the Company's systems and procedures to mitigate these principal risks;

• as deemed necessary, recommend to the Board actions or improvements needed to improve the Company's risk management systems and procedures.

*Anti-Bribery and Anti-Corruption*

• the Committee shall provide oversight with respect to compliance with the Extractive Sector Transparency Measures Act (Canada) (the "ESTMA") and similar applicable legislation, and shall ensure compliance with such legislation. This shall include confirming that management has established and maintains appropriate record-keeping procedures with respect to payments made to all levels of government in Canada and abroad as prescribed by the ESTMA and similar applicable legislation, including the timely filing of requisite annual reports and ensuring the public accessibility of such reports;

• review the principal anti-bribery and anti-corruption risks in the Company's business activities and provide oversight of appropriate systems to manage such risk as applicable to the Company;

• review and monitor the anti-bribery and anti-corruption policies and activities of the Company on behalf of the Board to ensure compliance with applicable laws, legislation, and policies as they relate to anti-corruption and anti-bribery issues; and

• in the event of the occurrence of a corruption or bribery incident, receive and review, without delay, a report from management detailing the nature of the incident. Such report is to be made to the Committee in its entirety, and the Committee will immediately inform the Board at large, which will review the incident and to determine the Company's disclosure obligations, if any.

**4. Authority**

The Committee:

&nbsp;&nbsp;&nbsp;&nbsp;• has the authority to communicate directly with officers and employees of the Company, its auditors, legal counsel and to such information respecting the Company as it considers necessary or advisable in order to perform its duties and responsibilities. This extends to the requiring the external auditor to report directly to the Committee;

&nbsp;&nbsp;&nbsp;&nbsp;• has the authority to engage independent counsel and other advisors as it deems necessary to carry out its duties and the Committee will set the compensation for such advisors;

&nbsp;&nbsp;&nbsp;&nbsp;• shall be provided appropriate funding from the Company, as determined by the Committee, for payment of compensation to any registered public accounting firm engaged for the purpose of preparing or issuing an audit report or performing other audit review or attest services for the Company, to any advisors employed by the Committee, and for ordinary administrative expenses of the Committee that are necessary or appropriate in carrying out its duties; and

&nbsp;&nbsp;&nbsp;&nbsp;• Shall have such other powers and duties as delegated to it by the Board.

------

**Annual Information Form**

Year ended December 31, 2025

All amounts in USD unless otherwise stated

**5. Accountability**

The Committee Chair has the responsibility to report to the Board, as requested, on accounting and financial matters relative to the Company.

The Committee shall report its discussions to the Board by maintaining minutes of its meetings which shall be available for review by the Board at any time.

## Exhibit 99.2

?xml version='1.0' encoding='ASCII'? itrg-20251231

![integra_resources_logo.jpg](itrg-20251231_g1.jpg)

**Consolidated Financial Statements and Notes**

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

![integra_resources_logo.jpg](itrg-20251231_g1.jpg)<br>

**MANAGEMENT'S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS**

Management of Integra Resources Corp. (the "Company") ("we", "us" or "our") have prepared the consolidated financial

statements in accordance with International Financial Reporting Standards as issued by the International Accounting

Standards Board ("IFRS Accounting Standards"). The consolidated financial statements include, where necessary, amounts

based on our estimates and judgement.

The Board of Directors, through the Audit Committee, is responsible for overseeing the performance of our responsibilities

for financial reporting and Internal Control over Financial Reporting and Disclosure Controls and Procedures. The Audit

Committee, which is composed of non-executive directors, discusses and analyzes the Company's consolidated financial

statements with management before such information is approved by the Audit Committee and submitted to securities

commissions or other regulatory authorities. The external auditors have full and unrestricted access to the Audit Committee

to discuss the scope of their audits, and the adequacy of the system of internal controls, and to review financial reporting

issues.

The consolidated financial statements have been audited by BDO Canada LLP, the Company's independent registered public

accounting firm, in accordance with the standards of the Public Company Accounting Oversight Board (United States). BDO

Canada LLP has expressed their opinion in the Report of Independent Registered Public Accounting Firm.

**Management's Report on Internal Control over Financial Reporting**

Management is responsible for establishing and maintaining adequate Internal Control over Financial Reporting, as defined

in National Instrument 52-109 – Certification of Disclosure in Issuers' Annual and Filings and Rules 13a-15f and 15d-15f of

the Securities Exchange Act of 1934, as amended. Internal Control over Financial Reporting is a process designed to provide

reasonable assurance regarding the reliability of financial reporting and preparation of financial statements for external

purposes in accordance with IFRS Accounting Standards.

Due to its inherent limitations, Internal Control Over Financial Reporting may not prevent or detect misstatements on a

timely basis. Also, projections of any evaluation of its effectiveness to future periods are subject to the risk that controls

may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures

may deteriorate.

Management has assessed the effectiveness of our Internal Control over Financial Reporting as of December 31, 2025,

based on the criteria set forth in the Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring

Organizations of the Treadway Commission ("COSO"). Based on this assessment, management concluded that the

Company's Internal Control over Financial Reporting was effective as of December 31, 2025.

The effectiveness of the Company's Internal Control over Financial Reporting as of December 31, 2025 has been audited by

BDO Canada LLP, as stated in their Report of Independent Registered Public Accounting Firm.

---

| | |
|:---|:---|
| "George Salamis" | "Andrée St-Germain" |
| Chief Executive Officer | Chief Financial Officer |

---

Vancouver, Canada

March 24, 2026

BDO Canada LLP, a Canadian limited liability partnership, is a member of BDO International Limited, a UK company limited by guarantee, and forms

part of the international BDO network of independent member firms.

---

| | | |
|:---|:---|:---|
| ![BDO Logo.jpg](itrg-20251231_g2.jpg) | Tel: (604) 688-5421<br>Fax: (604) 688-5132<br>**www.bdo.ca**<br>| BDO Canada LLP<br>Royal Centre, 1055 West Georgia Street <br>Unit 1100, P.O. Box 11101<br>Vancouver, British Columbia<br>V6E 3P3<br>|

---

**Report of Independent Registered Public Accounting Firm**<br>

Shareholders and Board of Directors

Integra Resources Corp.

Vancouver, British Columbia

**Opinion on the Consolidated Financial Statements**

We have audited the accompanying consolidated statement of financial position of Integra Resources

Corp. (the "Company") as of December 31, 2025, the related consolidated statements of loss and

comprehensive loss, changes in equity, and cash flows for the year ended December 31, 2025, and the

related notes (collectively referred to as the "consolidated financial statements"). In our opinion, the

consolidated financial statements present fairly, in all material respects, the financial position of the

Company at December 31, 2025, and the results of its operations and its cash flows for the year ended

December 31, 2025**,** in conformity with IFRS Accounting Standards as issued by the International

Accounting Standards Board (IASB).

We also have audited, in accordance with the standards of the Public Company Accounting Oversight

Board (United States) (PCAOB), the Company's internal control over financial reporting as of December

31, 2025, based on criteria established in *Internal Control – Integrated Framework (2013)* issued by the

Committee of Sponsoring Organizations of the Treadway Commission (COSO) and our report dated

March 24, 2026 expressed an unqualified opinion thereon.

**Basis for Opinion**

These consolidated financial statements are the responsibility of the Company's management. Our

responsibility is to express an opinion on the Company's consolidated financial statements based on our

audit. We are a public accounting firm registered with the PCAOB and are required to be independent

with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules

and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that

we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial

statements are free of material misstatement, whether due to error or fraud. Our audits included

performing procedures to assess the risks of material misstatement of the consolidated financial

statements, whether due to error or fraud, and performing procedures that respond to those risks. Such

procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the

consolidated financial statements. Our audits also included evaluating the accounting principles used

and significant estimates made by management, as well as evaluating the overall presentation of the

consolidated financial statements. We believe that our audit provides a reasonable basis for our opinion.

**Critical Audit Matters**

The critical audit matters communicated below are matters arising from the current period audit of the

consolidated financial statements that were communicated or required to be communicated to the audit

committee and that: (1) relate to accounts or disclosures that are material to the consolidated financial

statements and (2) involved our especially challenging, subjective, or complex judgments. The

communication of the critical audit matters does not alter in any way our opinion on the consolidated

financial statements, taken as a whole, and we are not, by communicating the critical audit matters

below, providing separate opinions on the critical audit matters or on the accounts or disclosures to

which they relate.

![BDO Logo.jpg](itrg-20251231_g2.jpg)

**Valuation of in-process inventories at the Florida Canyon mine**

As of December 31, 2025, the carrying value of the Company's inventory was $58.5 million, of which

$50.8 million was in-process inventory, referring to ore that is in the crushing process, on the heap leach

pads and in carbon-in-column circuits. Related disclosures are included in notes 3f), 5 and 9 to the

consolidated financial statements. The cost of in-process inventories is determined by reference to the

expected recoverable ounces of gold on leach pads and the expected timing of recoveries within in-

process inventory for which management relies on internal geological and metallurgical experts to

develop such estimates.

We identified the evaluation of the value of recoverable gold within in-process inventories as a critical

audit matter. Auditing management's estimates of the value of recoverable gold within in-process

inventories was determined to be complex due to (i) the specialized skills management applied in

establishing the grade of ore placed on the leach pads, and (ii) the estimated recovery percentage of the

gold and the expected timing over which the gold would be recovered. Auditing these estimates involved

especially challenging and subjective auditor judgement due to the nature and extent of audit effort

required, which included the use of professionals with specialized skill and knowledge.

The primary procedures we performed to address this critical audit matter included:

• Evaluating management's estimates including assumptions and inputs used through: (i)

assessing the reasonableness of the Company's methodology used in estimating the

recoverable amount of gold, assessment of the grade of ore placed on the leach pads and

estimated recovery percentage; (ii) testing a sample of the ore grade reports utilized by the

Company in its in-process production inventory valuation model against supporting details; (iii)

assessing qualifications and relevant experience of the Company's geological and metallurgy

specialists; and (iv) evaluating the mathematical accuracy of the Company's in-process inventory

valuation model.

• Utilizing professionals with specialized skills and knowledge in mining to assist in assessing the

Company's model and certain assumptions and inputs including the quality of the ore grade

reporting and the estimate of the gold percentage and timing of recovery.

**Assessment of the reclamation provision at the Florida Canyon mine**

As of December 31, 2025, the carrying amount of the Company's reclamation provisions was $64.0

million, of which $36.9 million represented the present value of estimated future costs for the

reclamation of the Florida Canyon mine. Related disclosures are included in notes 3k), 5 and 14 to the

consolidated financial statements.

The estimation of the provision for reclamation of the Florida Canyon mine represents management's

best estimate of the future cost of rehabilitating the mine and related production facilities. A reclamation

provision may be revised in response to new or changes to information, such as amendments to laws

and regulations, a change in life of mine estimate, changes to discount rates, revisions to closure plans,

updated reclamation cost estimates or expansion of the mine.

We identified the evaluation of the reclamation provision for the Florida Canyon mine as a critical audit

matter. Auditing management's reclamation provision for the Florida Canyon mine involved especially

challenging and subjective auditor judgement to evaluate the estimated timing and quantum of future

cash flows and cost estimates used in the provision.

![BDO Logo.jpg](itrg-20251231_g2.jpg)

The primary procedures we performed to address this critical audit matter included:

• Evaluating the assumptions used in the reclamation provision through: (i) verifying that the basis

of management's cost estimates are consistent with current government mandated costs; and

(ii) evaluating the reasonableness of the expected reclamation activities applied in

management's estimate against government mandated activities in accordance with applicable

laws and regulations.

• Utilizing professionals with specialized skills and knowledge in mining to assist in assessing the

reasonableness of certain assumptions and inputs including the nature and quantum of the

expected reclamation activities included in management's estimate.

![BDO signature.jpg](itrg-20251231_g3.jpg)

Chartered Professional Accountants

We have served as the Company's auditor since 2025.

Vancouver, Canada

March 24, 2026

BDO Canada LLP, a Canadian limited liability partnership, is a member of BDO International Limited, a UK company limited by guarantee, and forms

part of the international BDO network of independent member firms.

---

| | | |
|:---|:---|:---|
| ![BDO Logo.jpg](itrg-20251231_g2.jpg) | Tel: (604) 688-5421<br>Fax: (604) 688-5132<br>**www.bdo.ca**<br>| BDO Canada LLP<br>Royal Centre, 1055 West Georgia Street <br>Unit 1100, P.O. Box 11101<br>Vancouver, British Columbia<br>V6E 3P3<br>|

---

**Report of Independent Registered Public Accounting Firm**<br>

Shareholders and Board of Directors

Integra Resources Corp.

Vancouver, British Columbia

**Opinion on Internal Control over Financial Reporting**

We have audited Integra Resources Corp.'s (the "Company's") internal control over financial reporting as

of December 31, 2025, based on criteria established in *Internal Control – Integrated Framework (2013)* 

issued by the Committee of Sponsoring Organizations of the Treadway Commission (the "COSO

criteria"). In our opinion, the Company maintained, in all material respects, effective internal control over

financial reporting as of December 31, 2025, based on the COSO criteria*.*

We also have audited, in accordance with the standards of the Public Company Accounting Oversight

Board (United States) (PCAOB), the consolidated statement of financial position of the Company as of

December 31, 2025, the related consolidated statements of loss and comprehensive loss, changes in

equity, and cash flows for the year ended December 31, 2025, and the related notes and our report dated

March 24, 2026 expressed an unqualified opinion thereon.

**Basis for Opinion**

The Company's management is responsible for maintaining effective internal control over financial

reporting and for its assessment of the effectiveness of internal control over financial reporting, included

in the accompanying Item 16, Disclosure and Internal Control Procedures. Our responsibility is to express

an opinion on the Company's internal control over financial reporting based on our audit. We are a public

accounting firm registered with the PCAOB and are required to be independent with respect to the

Company in accordance with U.S. federal securities laws and the applicable rules and regulations of the

Securities and Exchange Commission and the PCAOB.

We conducted our audit of internal control over financial reporting in accordance with the standards of

the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance

about whether effective internal control over financial reporting was maintained in all material respects.

Our audit included obtaining an understanding of internal control over financial reporting, assessing the

risk that a material weakness exists, and testing and evaluating the design and operating effectiveness

of internal control based on the assessed risk. Our audit also included performing such other procedures

as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis

for our opinion.

**Definition and Limitations of Internal Control over Financial Reporting**

A company's internal control over financial reporting is a process designed to provide reasonable

assurance regarding the reliability of financial reporting and the preparation of financial statements for

external purposes in accordance with generally accepted accounting principles. A company's internal

control over financial reporting includes those policies and procedures that (1) pertain to the

maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and

dispositions of the assets of the company; (2) provide reasonable assurance that transactions are

recorded as necessary to permit preparation of financial statements in accordance with generally

accepted accounting principles, and that receipts and expenditures of the company are being made only

in accordance with authorizations of management and directors of the company; and (3) provide

reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or

disposition of the company's assets that could have a material effect on the financial statements.

![BDO Logo.jpg](itrg-20251231_g2.jpg)

Because of its inherent limitations, internal control over financial reporting may not prevent or detect

misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the

risk that controls may become inadequate because of changes in conditions, or that the degree of

compliance with the policies or procedures may deteriorate.

![BDO signature.jpg](itrg-20251231_g3.jpg)

Chartered Professional Accountants

Vancouver, Canada

March 24, 2026

---

| | |
|:---|:---|
| **MNP LLP** |  |
| Suite 2400 - 609 Granville Street, PO Box 10203 LCD Pacific Centre | 1.877.688.8408 T: 604 685 8408 F: 604 685 8594 MNP.ca |

---

![MNP Logo.jpg](itrg-20251231_g4.jpg)

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Shareholders of Integra Resources Corp.

**Opinion on the Consolidated Financial Statements**

We have audited the accompanying consolidated statement of financial position of Integra Resources Corp. (the

"Company") as of December 31, 2024, and the related consolidated statements of loss and comprehensive loss,

of changes in equity, and of cash flows for the year ended December 31, 2024, and the related notes (collectively

referred to as the "consolidated financial statements").

In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated

financial position of the Company as of December 31, 2024, and the results of its consolidated operations and its

consolidated cash flows for the period ended December 31, 2024, in conformity with IFRS<sup>®</sup> Accounting Standards

as issued by the International Accounting Standards Board.

**Basis for Opinion**

These consolidated financial statements are the responsibility of the Company's management. Our responsibility

is to express an opinion on the Company's consolidated financial statements based on our audit. We are a public

accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and

are required to be independent with respect to the Company in accordance with the U.S. federal securities laws

and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan

and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are

free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we

engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to

obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an

opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no

such opinion.

Our audit included performing procedures to assess the risks of material misstatement of the consolidated

financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such

procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the

consolidated financial statements. Our audit also included evaluating the accounting principles used and

significant estimates made by management, as well as evaluating the overall presentation of the consolidated

financial statements. We believe that our audit provides a reasonable basis for our opinion.

---

| |
|:---|
| /s/ MNP LLP |
| Chartered Professional Accountants |
| We served as the Company's auditor from 2016 to 2025. |
| Vancouver, Canada |
| March 26, 2025 |

---

INTEGRA RESOURCES CORP.<sub>4</sub>

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Consolidated Statements of** <br>**Financial Position**<br>(in thousands of U.S. dollars)<br>|

---

---

| | | |
|:---|:---|:---|
| | **December 31,** <br>**2025**<br>| **December 31,** <br>**2024**<br>|
| **Assets** |  |  |
| **Current assets** |  |  |
| Cash and cash equivalents | **$63086** | $52190 |
| Investments (Note 8a) | **365** | 363 |
| Inventories (Note 10) | **58306** | 58020 |
| Prepaids and other assets (Note 9) | **7688** | 3421 |
| Derivative assets (Note 8a) | **369** | 551 |
|  | **129814** | 114545 |
| **Non-current assets** |  |  |
| Mineral properties, plant and equipment (Note 11) | **165545** | 105119 |
| Deferred tax assets (Note 21) | **—** | 1569 |
| Restricted cash (Note 8c) | **15844** | 15288 |
| Other non-current assets | **21** | 563 |
| **Total assets** | **$311224** | $237084 |
| **Liabilities** |  |  |
| **Current liabilities** |  |  |
| Accounts payable and accrued liabilities (Note 12, 8a) | **$24073** | $19919 |
| Debt (Note 13) | **—** | 14096 |
| Derivative liabilities (Note 8a) | **—** | 2611 |
| Tax liabilities | **3813** | 6482 |
| Lease obligations (Note 14) | **7677** | 5237 |
| Reclamation provision (Note 15) | **1344** | 1615 |
| Other liabilities | **—** | 182 |
|  | **36907** | 50142 |
| **Non-current liabilities** |  |  |
| Long-term lease obligations (Note 14) | **14153** | 3475 |
| Long-term reclamation provision (Note 15) | **63981** | 52912 |
| Deferred tax liabilities (Note 20) | **10937** |  |
| **Total liabilities** | **125978** | 106529 |
| **Equity** |  |  |
| Issued capital (Note 16) | **313011** | 257481 |
| Share-based payment reserve (Note 16) | **11304** | 9895 |
| Investment revaluation reserve | **(5)** |  |
| Currency translation reserve | **21775** | 21775 |
| Deficit | **(160839)** | (158596) |
| **Total equity** | **185246** | 130555 |
| **Total liabilities and equity** | **$311224** | $237084 |

---

See accompanying notes to the consolidated financial statements

Approved by the Board on March 24, 2026

---

| | | | |
|:---|:---|:---|:---|
| *"signed"* | *Anna Ladd-Kruger, Director* | *"signed"* | *Janet Yang, Director* |

---

INTEGRA RESOURCES CORP.<sub>5</sub>

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Consolidated Statements of Loss and** <br>**Comprehensive Loss**<br>(in thousands of U.S. dollars except per share amounts)<br>|

---

---

| | | |
|:---|:---|:---|
|  | **Year ended** <br>**December 31,** | **Year ended** <br>**December 31,** |
| | **2025** | **2024** |
| **Revenue (Note 17)** | **$243926** | $30350 |
| **Cost of sales** |  |  |
| Production costs (Note 18) | **(119520)** | (21411) |
| Depreciation | **(14119)** | (1859) |
| Royalties and excise taxes | **(15740)** | (1706) |
|  | **(149379)** | (24976) |
| **Mine operating earnings** | **94547** | 5374 |
| Exploration and project expenses | **(17215)** | (14150) |
| General and administrative expenses (Note 19) | **(9833)** | (6907) |
| Foreign exchange losses | **(99)** | (873) |
| **Earnings (loss) from operations** | **67400** | (16556) |
| Interest income | **2485** | 669 |
| Interest and finance expense (Note 20) | **(7074)** | (3408) |
| Derivative losses (Note 8b) | **(39673)** | (1044) |
| Other (expense) income (Note 27) | **(4075)** | 11574 |
| **Earnings (loss) before income taxes** | **19063** | (8765) |
| Income tax expense (Note 21) | **(21306)** | (736) |
| **Net loss** | **$(2243)** | $(9501) |
| **Other comprehensive loss, net of taxes** |  |  |
| **Items that may be reclassified subsequently to profit or loss:** |  |  |
| Currency translation adjustment | **—** | (25) |
| **Items that will not be reclassified to profit or loss:** |  |  |
| Loss on investments, net of tax | **(5)** |  |
| **Total comprehensive loss** | **$(2248)** | $(9526) |
| **Net loss attributable to common shareholders** |  |  |
| Basic loss per share | **$(0.01)** | $(0.10) |
| Diluted loss per share | **$(0.01)** | $(0.10) |
| Weighted average shares outstanding (in 000's) Basic | **169329** | 96471 |
| Weighted average shares outstanding (in 000's) Diluted | **169329** | 96471 |

---

See accompanying notes to the consolidated financial statements

INTEGRA RESOURCES CORP.<sub>6</sub>

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Consolidated Statements of Cash Flows**<br>(in thousands of U.S. dollars)<br>|

---

---

| | | |
|:---|:---|:---|
|  | **Year ended** <br>**December 31,** | **Year ended** <br>**December 31,** |
| | **2025** | **2024** |
| **Operating activities** |  |  |
| Net loss for the year | **$(2243)** | $(9501) |
| Income tax expense (Note 21) | **21306** | 736 |
| Depreciation | **14892** | 2757 |
| Derivative losses (Note 8b) | **39673** | 1044 |
| Share-based compensation expense | **1970** | 1543 |
| Interest income | **(2485)** | (669) |
| Interest expense (Note 20) | **7074** | 3408 |
| Income taxes paid | **(8503)** |  |
| Other operating activities (Note 22) | **(471)** | (16799) |
| Change in working capital (Note 22) | **1041** | 7387 |
|  | **$72254** | $(10094) |
| **Investing activities** |  |  |
| Payments for mineral properties, plant and equipment | **(47159)** | (3330) |
| Proceeds from disposal of mineral properties, plant and equipment | **30** |  |
| Interest received | **1958** | 669 |
| Payments for derivatives | **(1040)** | (664) |
| Cash acquired from Florida Canyon Gold Inc. (Note 11) | **—** | 21655 |
| Proceeds from sale of net smelter royalty (Note 24) | **—** | 9750 |
| Other investing | **—** | (85) |
|  | **$(46211)** | $27995 |
| **Financing activities** |  |  |
| Common share proceeds (Note 16) | **20** | 23426 |
| Vested restricted share units | **(21)** |  |
| Warrant proceeds | **538** |  |
| Interest paid | **(4128)** |  |
| Proceeds from credit facility (Note 13) | **—** | 5000 |
| Repayment of loans (Note 13) | **(133)** |  |
| Payments of equipment leases (Note 14) | **(11933)** | (2358) |
| Other financing | **—** | (560) |
|  | **$(15657)** | $25508 |
| Effects of exchange rate changes on cash and cash equivalents | **510** | (34) |
| Increase in cash and cash equivalents | **10896** | 43375 |
| Cash and cash equivalents at the beginning of the year | **52190** | 8815 |
| **Cash and cash equivalents at the end of the year** | **$63086** | $52190 |

---

Supplemental cash flow information (Note 22)

See accompanying notes to the consolidated financial statements

INTEGRA RESOURCES CORP.<sub>7</sub>

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Consolidated Statements of Changes in Equity**<br>(in thousands of U.S. dollars except for number of shares)<br>|

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Issued**<br>**shares**<br>| **Issued**<br>**capital**<br>| **Share-**<br>**based** <br>**payment** <br>**reserve**<br>| **Investment** <br>**revaluation** <br>**reserve**<br>| **Currency** <br>**translation** <br>**reserve**<br>| **Deficit** | **Total** |
| **Balance, December 31, 2023** | **68871** | **$176942** | **$8854** | **$—** | **$3820** | **$(149095)** | **$40521** |
| Net loss for the period |  |  |  |  |  | (9501) | (9501) |
| Presentation currency translation |  | (17980) |  |  | 17955 |  | (25) |
|  |  | (17980) |  |  | 17955 | (9501) | (9526) |
| Shares issued for equity financings <br>(Note 16(f))<br>| 31512 | 25555 |  |  |  |  | 25555 |
| DeLamar Land Claims Acquisition <br>(Note 11)<br>| 2960 | 2100 |  |  |  |  | 2100 |
| Florida Canyon Gold Inc. <br>Acquisition (Note 7)<br>| 65213 | 72652 | 17 |  |  |  | 72669 |
| Share issue costs |  | (2129) |  |  |  |  | (2129) |
| Share-based compensation |  |  | 1543 |  |  |  | 1543 |
| Share units settled | 152 | 341 | (519) |  |  |  | (178) |
| **Balance, December 31, 2024** | **168708** | **257481** | **9895** | **—** | **21775** | **(158596)** | **130555** |
| **Total comprehensive loss** |  |  |  |  |  |  |  |
| Net loss for the period | **—** | **—** | **—** | **—** | **—** | **(2243)** | **(2243)** |
| Other comprehensive loss | **—** | **—** | **—** | **(5)** | **—** | **—** | **(5)** |
|  | **—** | **—** | **—** | **(5)** | **—** | **(2243)** | **(2248)** |
| Shares issued for Debt Conversion <br>(Note 13)<br>| **12295** | **54553** | **—** | **—** | **—** | **—** | **54553** |
| Share-based compensation | **—** | **—** | **1970** | **—** | **—** | **—** | **1970** |
| Share units settled | **448** | **439** | **(561)** | **—** | **—** | **—** | **(122)** |
| Warrants exercised | **625** | **538** | **—** | **—** | **—** | **—** | **538** |
| **Balance, December 31, 2025** | **182076** | **$313011** | **$11304** | **$(5)** | **$21775** | **$(160839)** | **$185246** |

---

See accompanying notes to the consolidated financial statements

INTEGRA RESOURCES CORP.<sub>8</sub>

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

**1. Nature of Operations**<br>

Integra Resources Corp. (the "Company" or "Integra") is a corporation governed by the *Business Corporations Act* (British

Columbia). The Company's corporate office and principal address is located at 1050 - 400 Burrard Street, Vancouver, British

Columbia, Canada, V6C 3A6. The Company's registered office is 2200 RBC Place, 885 West Georgia Street, Vancouver,

British Columbia, V6C 3E8. Integra shares trade on the TSX Venture Exchange ("TSX Venture") under the symbol ITR and the

NYSE-American under the symbol ITRG. The Company's warrants trade on the TSX Venture under the symbol ITR.WT.

The Company is a growing precious metals producer focused on gold mining, mine development and mineral exploration

activities in the Great Basin of the Western US at its Florida Canyon mine located in Nevada, US. The Company is also

engaged in exploration of two flagship development-stage heap leach projects: the past producing DeLamar Project in

southwestern Idaho, and the Nevada North Project in western Nevada.

**2. Basis of Preparation**<br>

These consolidated financial statements have been prepared in accordance with International Financial Reporting

Standards as issued by the International Accounting Standards Board ("IFRS Accounting Standards").

These audited consolidated financial statements were approved for issuance by the Board of Directors on March 24, 2026.

**3. Material Accounting Policies** <br>

**a)Basis of measurement**

These consolidated financial statements have been prepared on a historical cost basis, except for those assets and

liabilities that are measured at fair values at the end of each reporting period.

**b)Basis of consolidation**

The accounts of the Company and its subsidiaries, which are controlled by the Company, have been included in these

consolidated financial statements. Control is achieved when the Company is exposed, or has rights, to variable returns

from the investee and when the Company has the ability to affect those returns through its power over the investee.

Subsidiaries are included in the consolidated financial results of the Company from the effective date of acquisition up

to the effective date of disposition or loss of control.

All subsidiaries are wholly-owned and fully consolidated from the date on which control is transferred to the group.

Intercompany balances, transactions, income and expenses are eliminated upon consolidation.

**c)Business combinations**

Business combinations are accounted for using the acquisition method of accounting, whereby identifiable assets

acquired and liabilities assumed are recognized at their fair values at the acquisition date. The cost of an acquisition is

measured as the aggregate of the consideration transferred, measured at acquisition-date fair value. Provisional fair

value estimates are finalized as soon as the necessary information becomes available, and no later than 12 months

from the acquisition date, with any resulting adjustments recognized retrospectively as of the acquisition date.

Goodwill represents the excess of the consideration transferred over the fair value of the identifiable net assets

acquired and is recognized as an asset. If the consideration transferred is less than the fair value of the identifiable net

assets acquired, the resulting gain is recognized in profit or loss. Acquisition-related costs, other than costs to issue

debt or equity securities, are expensed as incurred.

**d)Foreign currencies**

The functional currency is the currency of the primary economic environment in which the entity operates and has been

determined for each entity within the Company. The Company considered the functional currency of the parent entity to

be the Canadian Dollar ("CAD") until January 1, 2025, when the functional currency changed to United States dollars

("USD"), as this better reflects the Company's economic environment since the acquisition of Florida Canyon Gold Inc.,

where revenues, operating and capital expenditures, and financing activities are predominantly denominated in USD.

The functional currency was determined and treated in accordance with IAS 21 *The effects of changes in foreign* 

*exchange rates* which includes accounting for the functional currency change on a prospective basis.

INTEGRA RESOURCES CORP.<sub>9</sub>

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

**e)Financial instruments**

The Company classifies its financial instruments in the following categories: at fair value through profit and loss

("FVTPL"), at fair value through other comprehensive income (loss) ("FVTOCI"), or at amortized cost. The Company

determines the classification of financial assets at initial recognition. The classification of debt instruments is driven by

the Company's business model for managing the financial assets and their contractual cash flow characteristics. Equity

instruments that are held for trading are classified as FVTPL. For other equity instruments, on the day of acquisition the

Company can make an irrevocable election (on an instrument-by-instrument basis) to designate them as FVTOCI.

Financial liabilities are measured at amortized cost, unless they are required to be measured at FVTPL (such as

instruments held for trading or derivatives) or the Company has opted to measure them at FVTPL.

Financial assets and liabilities at amortized cost are initially recognized at fair value plus or minus transaction costs,

respectively, and subsequently carried at amortized cost less any impairment.

Financial assets and liabilities carried at FVTPL are initially recorded at fair value and transaction costs are expensed in

profit or loss. Realized and unrealized gains and losses arising from changes in the fair value of the financial assets and

liabilities held at FVTPL are recognized in profit or loss for the period.

An 'expected credit loss' impairment model applies which requires a loss allowance to be recognized based on

expected credit losses. The estimated present value of future cash flows associated with the asset is determined and

an impairment loss is recognized for the difference between this amount and the carrying amount as follows: the

carrying amount of the asset is reduced to the present value of estimated future cash flows associated with the asset,

discounted at the financial asset's original effective interest rate, either directly or through the use of an allowance

account and the resulting loss is recognized in profit or loss for the period.

The Company derecognizes financial assets only when the contractual rights to cash flows from the financial assets

expire, or when it transfers the financial assets and substantially all the associated risks and rewards of ownership to

another entity. Gains and losses on derecognition are generally recognized in the consolidated statement of earnings

and comprehensive earnings.

**f)Cash and cash equivalents**

Cash and cash equivalents include cash on hand and other short-term, highly liquid investments with maturities of three

months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of

changes in value. Restricted cash comprises cash balances that are not available for general use by the Company due

to contractual, or regulatory restrictions. Such restrictions may arise from debt agreements, or reclamation bonding

requirements.

**g)Inventories**

Inventories include stockpile, in-process, finished and materials and supplies, and are measured at the lower of

weighted average cost or net realizable value ("NRV"). For in-process and finished inventories, cost includes all direct

costs incurred in production, including direct labour and materials, depreciation and depletion, and directly attributable

overhead costs. NRV is calculated as the estimated price at the time of sale based on prevailing and long-term metal

prices less estimated future costs to convert the inventories into saleable form, transportation costs, and estimated

costs to sell.

Stockpile represents ore that has been extracted from the mine and is available for further processing. Costs added to

stockpiled ore inventory are based on current mining cost per ounce incurred up to the point of stockpiling the ore and

are removed at the weighted average cost per ounce. Costs are included in in-process inventory based on current costs

incurred up to the point prior to the refining process, including applicable depletion of mining interests, and removed at

the weighted average cost per recoverable ounce of gold. The average costs of finished inventories represent the

average costs of in-process inventory incurred prior to the refining process, plus applicable refining and transportation

costs.

In-process inventory includes inventory on the heap leach pads, and in carbon-in-column circuits. Finished inventory

includes metals in their final stage of production prior to sale, primarily doré at the mine site or in transit, and refined

metal held at a refinery.

Any write-downs of inventories to NRV are recorded as cost of sales. If there is a subsequent increase in the value of

inventories, the previous write-downs to NRV are reversed to the extent that the related inventories have not been sold.

INTEGRA RESOURCES CORP.<sub>10</sub>

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

Materials and supplies are measured at weighted average cost. Cost includes acquisition, freight, and other directly

attributable costs. In the event that the NRV of the finished inventories, the production of which the materials and

supplies are held for use in, is lower than the expected cost of the finished product, the material and supplies are written

down to their NRV.

**h)Mineral property, plant, and equipment**

*Exploration and evaluation assets*

Exploration expenditures are the costs incurred in the initial search for mineral deposits with economic potential or in

the process of obtaining more information about existing mineral deposits. Exploration expenditures typically include

costs associated with prospecting, sampling, mapping, drilling and other work involved in searching for minerals.

Evaluation expenditures are the costs incurred to establish the technical and commercial viability of developing mineral

deposits identified through exploration activities or by acquisition. Evaluation expenditures include the cost of:

• establishing the volume and grade of deposits through drilling of core samples, trenching and sampling activities in

an ore body that is classified as either a mineral resource or a proven and probable reserve;

• determining the optimal methods of extraction and metallurgical and treatment processes;

• studies related to surveying, transportation, and infrastructure requirements;

• permitting activities; and

• economic evaluations to determine whether development of the mineralized material is commercially justified,

including scoping, pre-feasibility and final feasibility studies.

Exploration and evaluation expenditures are expensed as incurred until such time the Company determines that

sufficient evaluation has occurred in order to establish a National Instrument 43-101 compliant resource, on completion

of a feasibility study and a receipt of mining permit. Thereafter, costs of the project are capitalized prospectively as

exploration and evaluation assets.

Costs of acquiring exploration and evaluation assets are capitalized. No amortization is charged during this phase and

the related assets are subsequently measured at cost less accumulated impairment.

Acquired or capitalized exploration and evaluation costs are classified as such until the project demonstrates technical

feasibility and commercial viability, which generally coincides with the permits and approval of construction. Upon

demonstrating technical feasibility and commercial viability, and subject to an impairment analysis, exploration and

evaluation assets are transferred to assets under construction or property, plant and equipment depending on the

nature of the asset within mineral properties, plant and equipment when expected to provide a benefit in excess of

annual production.

*Mineral properties and mine development costs*

Costs incurred to acquire mineral properties or property rights are capitalized. During the production phase,

development costs incurred to develop new ore bodies or mine areas in advance of current production, and to increase

future output by providing access to additional reserves or resources, are capitalized to mineral properties until the

related asset is ready for use. Once a mineral property has been brought into commercial production, the costs of any

additional work on that property are expensed as incurred, except for mine development which constitute a betterment,

which will be deferred and depleted over the remaining useful life of the related assets.

Revenue from the sale of gold and silver ounces recovered before items of mineral property, plant, and equipment, such

as the mine or process plant, are operating in the manner intended by management are recognized, along with related

costs, in the consolidated statement of earnings and comprehensive earnings.

Mineral properties are recorded at cost less accumulated depletion and impairment charges. When assets are ready for

use as intended by management, mineral properties and mine development costs are amortized on a unit-of-production

basis using ounces over the estimated proven and probable reserves. Mine development costs associated with each

distinct section of the mine are amortized over the reserves. Upon sale or abandonment of mineral properties, the cost

and related accumulated depletion are written off and any gains or losses thereon are included in the consolidated

statements of loss and comprehensive loss.

Stripping costs incurred to improve access to the identified component of ore, which are determined using strip ratio

methodology, will be capitalized as a component of mineral properties. The deferred stripping will be depleted on a unit-

of-production basis over the reserves that directly benefited from the stripping activity.

INTEGRA RESOURCES CORP.<sub>11</sub>

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

*Property, plant, and equipment*

Plant and equipment are recorded at cost less accumulated depreciation and impairment charges. The initial cost of an

asset consists of its purchase price or construction cost, any costs directly attributable to bringing the asset into

operation, and the initial estimate of any reclamation obligation. The cost of buildings, mobile equipment, and plant and

processing equipment used in the Company's mining operations are amortized on either a straight-line basis over the

estimated useful life of the related asset or on a unit-of-production basis over estimated proven and probable reserves,

or other relevant metric.

*Amortization of mineral properties, plant and equipment*

The carrying amounts of mineral properties, plant and equipment are depreciated, depleted or amortized to their

estimated residual value over the estimated economic life of the specific assets to which they relate, or using the

straight-line method over their estimated useful lives or the units-of-production method using ounces over the

estimated proven and probable reserves. Exploration and evaluation assets, and assets under construction, are not

depreciated until they are ready for their intended use. The cost of office equipment, furniture and fixtures, and vehicles

is amortized on a straight-line basis over the estimated useful life of the related asset. Repair and maintenance costs

are expensed as incurred. However, expenditures on major maintenance rebuild or overhauls are capitalized when it is

probable that the expenditures will extend the productive capacity or useful life of an asset.

Estimates of residual values, useful lives, and proven and probable reserves are reassessed at least annually, and any

change in estimate is considered in the determination of remaining depreciation, depletion, or amortization charges.

Depreciation, depletion or amortization commences on the date the asset is available for use as intended by

management.

The estimated useful lives of property, plant and equipment with exception of land are as follows:

---

| | | |
|:---|:---|:---|
| **Category** | **Estimated life** | **Depreciation method** |
| Buildings and infrastructure | 15-25 years | Straight-line |
| Mobile equipment | 2-10 years | Straight-line |
| Machinery and equipment | 5-10 years | Straight-line |
| Vehicles | 2-7 years | Straight-line |
| Processing plant | Life-of-mine | Unit-of-Production |
| Office furniture and office equipment | 2-8 years | Straight-line |

---

**i)Impairment of non-current assets**

The carrying values of capitalized non-current assets are reviewed for impairment indicators at each reporting date, or

when indicators of impairment are present. If any such indication exists, the recoverable amount of the asset is

estimated in order to determine the extent of the impairment, if any. In the case of undeveloped projects, there may be

only inferred resources to form a basis for the impairment review. The review is based on the Company's intentions for

the development of such a project. If a project does not prove viable, all unrecoverable costs associated with the project

are charged to the consolidated statements of loss and comprehensive loss.

Where the asset does not generate cash flows that are independent from other assets, the Company estimates the

recoverable amount of the applicable cash-generating unit ("CGU" or "CGUs") to which the asset belongs. The

recoverable amount is determined as the higher of the fair value less cost of disposal ("FVLCD") and the asset's value in

use. FVLCD is the amount that would be obtained from the sale of an asset or CGU in an arm's length transaction

between knowledgeable and willing parties, less the costs of disposal. For mineral assets, when a third party offer is not

readily available, FVLCD is often estimated using a discounted cash flow model using a post-tax discount rate. For

certain assets, while calculated FVLCD, the in-situ fair value per ounce is considered for gold equivalent reserves and

resources not already considered in the discounted cash flow model. In assessing value in use, the estimated future

cash flows are discounted to their present value using a pre-tax discount rate. Estimated future cash flows are

calculated using estimated recoverable reserves or resources, metallurgical recovery estimates, estimated future

commodity prices, future production volume, and the expected future operating, capital and reclamation costs. The

discount rate applied to the estimated future cash flows reflects current market assessments of the time value of

money and the risks specific to the asset. Determining the discount rate includes appropriate adjustments for the risk

profile of the countries in which the individual CGUs operate. In-situ fair value per ounce is calculated based on sale

transactions of comparable assets. If the carrying amount of an asset or CGU exceeds its recoverable amount, the

carrying amount of the asset or CGU is reduced to its recoverable amount. An impairment loss is recognized as an

expense in the consolidated statements of loss and comprehensive loss.

INTEGRA RESOURCES CORP.<sub>12</sub>

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

Non-financial assets that have been impaired are tested for possible reversal of the impairment whenever events or

changes in circumstance indicate that the impairment may have reversed. Where an impairment charge subsequently

reverses, the carrying amount of the asset or CGU is increased to the revised estimate of its recoverable amount, but

only so that the increased carrying amount does not exceed the carrying amount that would have been determined (net

of depreciation, depletion, or amortization) had no impairment loss been recognized for the asset in prior years. A

reversal of impairment is recognized as a gain in the consolidated statements of loss and comprehensive loss.

**j)Convertible instruments**

Convertible instruments that consist of a loan (liability component) and an equity conversion option that allows the

option holder to convert the loan into a fixed number ("fixed-for-fixed criteria") of borrower's shares (equity component)

are classified as "compound instruments". Management determined that its convertible debt facility does not meet

criteria for the compound instruments (no equity component is identified, as the fixed-for-fixed criteria was not met),

hence it will be considered as a "hybrid instrument", which includes both a non-derivative host contract and one or more

embedded derivatives.

The Company's convertible debt facility contains a financial liability (non-derivative host contract) and one or more

embedded derivatives. The liability is initially recorded at residual value after first valuing the derivative component and

is subsequently carried at amortized cost using the effective interest rate method; the liability is accreted to the face

value over the term of the convertible debt. Accretion is expensed to the consolidated statement of operations and

comprehensive loss.

The conversion feature within the convertible debt facility has been determined to be an embedded derivative that is not

closely related to the liability host, and it is bifurcated and accounted for separately, by first valuing the derivative

component. At each reporting period, the derivative is fair valued with changes in fair value recorded as a gain or loss in

the consolidated statements of loss and comprehensive loss. The fair value of the derivative at the inception date and

at each reporting period is calculated using the Finite Difference Method and Binomial Tree Method for the subsequent

advance. The key assumptions used in the model are the Company's share price, risk free rates, expected volatility, and

credit spread. The expected volatility assumption is based on the historical volatility of the Company's stock over a term

equal to the remaining term of corresponding debt instrument. The credit spread assumption in the model is based on

the Company's cost of unsecured debt.

Fees paid to establish convertible debt facility (commitment, advisory, legal, technical, consulting, standby, and filing

fees) are recognized as transaction costs. Management allocates transaction costs exclusively to the non-derivative

financial liability host. Transaction costs solely related to the initial advance will be included in full in the host's initial

measurement. Transaction costs related to the initial advance and the subsequent advances will be allocated on a pro

rata basis. Management determined that subsequent advances are probable, so transaction costs related to

subsequent advance are deferred as an asset and will be deducted from the liability when subsequent advances are

drawn. If management assess that subsequent advances are no longer probable, those transaction costs would be

expensed on a straight-line basis over the remaining loan term.

**k)Leases**

For contracts that contain a lease, the right-of-use asset and a corresponding liability are recognized at the date at

which the leased asset is available for use by the Company. Each lease payment is allocated between the liability and

finance expense. The finance expense is charged to the consolidated statements of loss and comprehensive loss over

the lease period. The right-of-use asset is depreciated over the shorter of the asset's useful life or the life-of-mine

("LOM"), on a straight-line basis, subject to impairment testing under IAS 36 Impairment of assets.

Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net

present value of the following lease payments:

• fixed payments (including in-substance fixed payments), less any lease incentives receivable;

• variable lease payments that are based on an index or a rate;

• amounts expected to be payable by the lessee under residual value guarantees;

• the exercise price of a purchase option if the lessee is reasonably certain to exercise that option; and

• payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option.

The lease payments are discounted using the interest rate implicit in the lease, if that rate can be determined, or the

Company's incremental borrowing rate.

INTEGRA RESOURCES CORP.<sub>13</sub>

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

Right-of-use assets are measured at cost comprising the following:

• the amount of the initial measurement of lease liability;

• any lease payments made at or before the commencement date less any lease incentives received;

• any initial direct costs; and

• restoration costs.

The Company remeasures the lease liability (and makes a corresponding adjustment to the related right-of-use asset)

whenever:

• The lease term has changed or there is a significant event or change in circumstances resulting in a change in the

assessment of exercise of a purchase option, in which case the lease liability is remeasured by discounting the

revised lease payments using a revised discount rate;

• The lease payments change due to changes in an index or rate or a change in expected payment under a

guaranteed residual value, in which cases the lease liability is remeasured by discounting the revised lease

payments using an unchanged discount rate (unless the lease payments change is due to a change in a floating

interest rate, in which case a revised discount rate is used); or

• A lease contract is modified and the lease modification is not accounted for as a separate lease, in which case

the lease liability is remeasured based on the lease term of the modified lease by discounting the revised lease

payments using a revised discount rate at the effective date of the modification.

**l)Reclamation and closure provision**

Provision is made for closure, reclamation and environmental rehabilitation costs (which include the dismantling and

demolition of infrastructure, removal of residual materials and remediation of disturbed areas) in the financial period

when the related environmental disturbance occurs, based on the estimated future costs using information available at

the date of the consolidated statements of financial position. At the time of establishing the provision, a corresponding

asset is capitalized, where it gives rise to a future benefit, and depreciated over future production from the operations to

which it relates. For properties where mining activities have ceased or are in reclamation, changes to the reclamation

provision are charged directly to the consolidated statements of loss and comprehensive loss. The provision is

discounted using a current market-based, risk-free discount rate and the accretion of the discount is included in finance

expenses.

The provision is reviewed at each reporting date for changes to obligations, legislation or discount rates that impact

estimated costs or lives of operations. The cost of the related asset is adjusted for changes in the provision resulting

from changes in the estimated cash flows or discount rate and the adjusted cost of the asset is depreciated

prospectively.

**m)Income taxes**

Current tax for each taxable entity of the Company is based on the local taxable income at the local statutory tax rate

enacted or substantively enacted at the reporting date and includes adjustments to tax payable or recoverable in

respect of previous years.

Deferred tax is accounted for using the liability method, providing for the tax effect of temporary differences between

the carrying amount of assets and liabilities for financial reporting purposes and their respective tax bases.

Deferred income tax assets and liabilities are recognized for all taxable temporary differences except where the

deferred income tax asset and liability arises from the initial recognition of an asset or liability in a transaction that is

not a business combination and, at the time of the transaction, affects neither the accounting profit or loss nor taxable

profit or loss.

Deferred income tax assets also consist of carry-forward of unused tax assets and unused tax losses, to the extent that

it is probable that taxable profit will be available against which the deductible temporary differences, and the

carryforward of unused tax losses can be utilized. The carrying amount of deferred income tax assets are reviewed at

each reporting date and deferred income tax assets where it is no longer probable that sufficient taxable profit is

available to allow all or part of the asset to be utilized are not recognized.

Deferred tax is measured on an undiscounted basis using the tax rates that are expected to apply in the period when the

liability is expected to be settled or the asset is expected to be realized, based on tax rates and tax laws enacted or

substantively enacted at the date of the statement of financial position. Deferred tax assets and liabilities are offset

when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax

INTEGRA RESOURCES CORP.<sub>14</sub>

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

assets and liabilities on a net basis. Current and deferred taxes relating to items recognized directly in equity are

recognized in equity and not in the consolidated statements of loss and comprehensive loss.

Mining taxes and royalties are treated and disclosed as current and deferred taxes if they have the characteristics of an

income tax. This is the case when they are imposed under government authority and the amount payable is calculated

by reference to revenue derived (net of any allowable deductions) after adjustment for items comprising temporary

differences.

**n)Share capital**

If the Company issues units as part of financing, consisting of both common shares and common share purchase

warrants, the residual value method is used to first allocate proceeds to the issued common shares based on the fair

market value at the time the units are priced, any residual value is allocated to the issued warrants.

**o)Revenue recognition**

The Company's primary source of revenue is the sale of refined gold and silver and its performance obligations are the

delivery of refined gold and silver to its customers.

Revenue from the sale of metal is recognized when the buyer obtains control of the metal. When considering whether

the Company has satisfied its performance obligations, it considers the indicators of the transfer of control, which

include, but are not limited to, whether: the Company has a present right to payment; the customer has legal title to the

metal; the Company has transferred physical possession of the metal to the customer; and, the customer has the

significant risks and rewards of ownership of the metal. Revenue is recognized at the time when the risks and rewards

of ownership and title transfers to the customer, which is when the Company irrevocably instructs the refinery to deliver

the metals to the customer and payment has been received.

The Company sells the majority of its gold and silver to bullion traders who are members of the London Bullion Market

Association. The sales price is fixed on the date of sale based on spot price or by mutual agreement.

**p)Share-based compensation**

The Company has an equity incentive plan, which includes stock options, RSUs and DSUs for employees, directors and

consultants in exchange for the provision of services. These share-based awards are classified as equity because they

are equity-settled awards which are measured at fair value on the date of grant.

The fair value of stock options is determined using Black-Scholes option pricing model on the date of grant. RSUs and

DSUs are recorded at fair value based on the market value of the grant. The fair value of all share-based compensation

at grant date is recognized as compensation expense over the vesting period, with a corresponding credit to

contribution surplus. When the share-based awards are exercised, the applicable amounts of contributed surplus are

transferred to share capital.

**q)Loss per share**

Basic earnings per share is computed by dividing earnings available to common shareholders by the weighted average

number of shares outstanding during the reporting period. Diluted earnings per share is computed similarly to basic

earnings per share except that the weighted average shares outstanding are increased to include additional shares for

the assumed exercise of stock options and share units, if dilutive.

The number of additional shares is calculated by assuming that outstanding stock options and share units were

exercised and that the proceeds from such exercises were used to acquire common stock at the average market price

during the reporting periods.

**4. Changes in Accounting Standards**<br>

**Accounting Standards Issued but Not Yet Applied**

*Presentation and Disclosure in Financial Statements (IFRS 18)*

IFRS 18 has been issued to achieve comparability of the financial performance of similar entities. The standard, which

replaces IAS 1, impacts the presentation of primary financial statements and notes, mainly the income statement where

companies will be required to present separate categories of income and expense for operating, investing, and financing

activities with prescribed subtotals for each new category. IFRS 18 will require management-defined performance measures

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 15 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

to be explained and included in a separate note within the consolidated financial statements. The standard is effective for

financial statements beginning on January 1, 2027, including financial statements and requires retrospective application.

The Company is currently assessing the impact of this amendment.

*Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7)*

IFRS 9 and 7 have been amended to provide additional guidance regarding the recognition of a financial liability settled

through electronic transfer, and for the classification of certain financial assets. Further, the amendments introduce new

disclosure requirements related to investments in equity instruments designated at FVOCI. The amendments are effective

for financial statements beginning on January 1, 2026. The implementation of this amendment is not expected to have a

material impact on the Company.

There are no other standards or amendments or interpretations to existing standards issued but not yet effective that are

expected to have a material impact on the Company.

**5. Significant Judgments and Estimates**<br>

The preparation of these consolidated financial statements requires management to make judgments and estimates, which

are continually evaluated based on management's experience and knowledge of relevant facts and circumstances. Actual

results may differ from these estimates. Information about such judgments and estimates is included in the accounting

policies (Note 3) and other notes to the financial statements. The significant judgments and estimates made include the

following:

**Critical judgments in applying accounting policies**

The critical judgments that the Company's management has made in the process of applying the Company's accounting

policies, apart from those involving estimations, that have the most significant effect on the amounts recognized in the

Company's consolidated financial statements are as follows:

*Assessment of impairment indicators of non-current assets* 

Management assesses whether any indication of impairment exists at the end of each reporting period. Judgment is

required in assessing whether certain factors would be considered an indicator of impairment. The Company considers both

internal and external information to determine whether there is an indicator of impairment and, accordingly, whether

impairment testing is required. The information the Company considers in assessing whether there is an indicator of

impairment includes, but is not limited to, significant decreases in future gold prices, increases in operating cost and future

capital costs estimates, decreases in estimated mineral reserves, decreases in estimated production and increases in the

discount rate. No impairment indicators were identified by management as of December 31, 2025.

*Business combination*

The determination of the fair value of assets acquired and liabilities assumed, and any resulting goodwill, requires

management to exercise judgment and make estimates based on information available at the acquisition date. These

estimates consider future events, including, but not limited to, mineral reserves and resources, exploration potential, future

operating and capital costs, metal prices, long-term foreign exchange rates, discount rates, and tax rates.

*Mineral reserves and resources*

The Company estimates its mineral reserves and resources in accordance with National Instrument 43-101 requirements.

The estimation of mineral reserves and resources requires judgment to interpret geological data and metallurgical testing,

design of appropriate mining methods, recovery methods and establishment of a life of mine production schedule. The

estimation of recoverable reserves is also based on assumptions such as capital costs, operating costs and metal pricing.

Changes in the reserve or resource estimates may impact the valuation of property, plant, equipment and mineral properties,

and exploration and evaluation assets, recognition of deferred tax amounts, reclamation and remediation obligations, and

deprecation, depletion and amortization.

*Inventory*

The Company's management makes estimates of the expected recoverable ounces of gold on leach pads and the expected

timing of recoveries in in process inventory, which is also used in the determination of the cost of sales during the period.

Expected recoverable ounces of gold on leach pads are determined based on the type of ore tonnes mined and placed on

the leach pad, rock density, grams of gold per tonne and expected recovery rates.

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 16 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

Management relies on internal geological and metallurgical experts to develop estimates related to expected recoverable

ounces of gold on leach pads and timing of recoveries. The Company monitors the ongoing recovery of gold ounces from

the leach pads and may refine its estimates based on these results. Assumptions used in the net realizable value

assessment include the estimated gold price at the time of sale, and remaining costs of completion to bring inventory into

its saleable form. Changes in these estimates can result in a change in the carrying amount of inventories and future cost of

sales.

*Reclamation provision*

Reclamation provision represents the present value of estimated future costs for the reclamation of the Company's mines

and properties. These estimates include assumptions as to the future activities, cost of services, timing of the reclamation

work to be performed, inflation rates, exchange rates and discount rates.

The actual cost to reclaim a mine may vary from the estimated amounts because there are uncertainties in factors used to

estimate the cost and potential changes in regulations or laws governing the reclamation of a mine. Management

periodically reviews the reclamation requirements and adjusts the liability as new information becomes available and will

assess the impact of new regulations and laws as they are enacted.

**6. Management of Capital**<br>

The Company's objective when managing its capital is to maintain its ability to continue as a going concern while at the

same time maximizing the growth of its business and providing returns to its shareholders. The Company's capital structure

consists of shareholders' equity (comprising issued capital plus share option reserve plus currency translation reserve, plus

deficit) with a balance of $185.2 million as at December 31, 2025 (2024 - $130.6 million).

The Company manages its capital structure and makes adjustments based on changes to its economic environment and

the risk characteristics of the Company's assets. The Company's capital requirements are effectively managed based on the

Company having a thorough reporting, planning and forecasting process to help identify the funds required to ensure the

Company is able to meet its operating and growth objectives. The Company is not subject to externally imposed capital

requirements and the Company's overall objective with respect to capital risk management remains unchanged from the

year ended December 31, 2024.

**7. Florida Canyon Acquisition**<br>

On November 8, 2024 ("Closing Date"), the Company completed the acquisition of Florida Canyon Gold Inc ("FCGI") and its

Florida Canyon mine, an open-pit operating gold mine located in Nevada, USA ("FCGI Transaction"). As part of the FCGI

Transaction, the Company acquired all of the issued and outstanding shares of FCGI at an exchange ratio of 0.467 common

shares of the Company for each common share of FCGI. All outstanding FCGI options not exercised prior to the acquisition

date were replaced with Integra options. Mexican assets previously owned by FCGI were sold prior to the completion of the

acquisition.

On the Closing Date, the Company issued 65,213,010 common shares in exchange for all of FCGI's issued and outstanding

common shares and replaced FCGI options into 92,301 Integra options, for a total consideration of $72.7 million.

The Company has determined that this transaction represents a business combination under IFRS 3, with Integra identified

as the acquirer. The Company has consolidated the operating results, cash flows and net assets of FCGI from November 8,

2024. For the period from Closing Date to December 31, 2024, the Florida Canyon mine contributed revenue of $30.4 million

and incurred an income before income taxes of $4.1 million. If the acquisition of Florida Canyon mine had taken place on

January 1, 2024, pro-forma consolidated revenue and loss before income taxes for the Company would have been

$172.8 million and $9.7 million respectively, for the year ended December 31, 2024. Transaction and integration costs of

$3.9 million have been expensed and are presented as part of other expense (Note 27).

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 17 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

The following table summarizes the fair value of the consideration paid and the fair values of the assets acquired and

liabilities assumed on the Closing Date:

---

| | | |
|:---|:---|:---|
| **Stock consideration** | **Shares** | **Total** <br>**consideration**<br>|
| Common shares issued to FCGI shareholders<sup>(1)</sup> | 65213010 | $72652 |
| Integra options in exchange for FCGI stock options<sup>(2)</sup> | 92301 | 17 |
|  |  | $72669 |

---

(1)The fair value of the common shares issued to FCGI shareholders was determined using the Company's share price of CAD$1.55

($1.11) per share on the Closing Date.

(2)The fair value of the replacement options was determined using the Black-Scholes option pricing model with the following weighted

average assumptions: exercise price of $2.24 Integra share price of $1.11, expected life of 2.25, expected volatility of 60%, dividend

yield of nil%, and risk-free interest rate of 3.08%.

---

| | |
|:---|:---|
| **Net assets acquired** | |
| Cash and cash equivalents | $21655 |
| Prepaids and other assets | 4592 |
| Inventories | 62430 |
| Restricted cash | 14905 |
| Mineral properties, plant and equipment | 40584 |
| Deferred tax assets | 1017 |
| Other assets | 3155 |
| Accounts payable and accrued liabilities | (17453) |
| Tax liabilities | (4912) |
| Lease obligations | (9196) |
| Reclamation provision | (29817) |
| Other liabilities | (110) |
| Fair value of net assets acquired | $86850 |
| Consideration paid | 72669 |
| Bargain purchase gain | $14181 |

---

The fair values of mineral properties and reclamation provisions were estimated using discounted cash flow models. The

fair value of inventories was determined based on the future estimated cash flows from sales of payable metal produced

and are adjusted for costs to complete and expected profit margin. The right-of-use assets and lease liabilities were

recorded based on the present value of future lease payments over the expected term of the lease at the implicit interest

rate. The fair values of plant and equipment were estimated using market or cost approaches. Expected future cash flows,

used to estimate the fair value of mineral properties, are based on estimates of future gold prices, projected future

production, estimated quantities of ore reserves, metallurgical recovery estimates, expected future production costs,

expected capital expenditures, and discount rates based on the life of mine plan at the transaction date. In the case of lease

liabilities, estimates of expected future lease payments are based on estimated machine hours and minimum usage

guarantees. The fair value of receivables, less any expected credit losses, and payables are equal to their gross contractual

amounts at the transaction date. Expected future cash flows associated with the reclamation and closure cost provisions

were based on estimates of the future expenditures required to settle the obligation for disturbances at the acquisition date

and using a discount rate equal to the Company's estimated cost of debt. FCGI is subject to a notice of civil claim related to

a corporate transaction (Note 25). The Company has reviewed the claim and is of the view that it is without merit. However,

the outcome of the claim, and amount of any possible obligation, was not determinable as of the Closing Date or as at

December 31, 2025. Accordingly, no liability was accrued in the FCGI purchase price allocation or at December 31, 2025.

The Company recognized a bargain purchase gain of $14.2 million ("Purchase Gain"), equal to the excess of the fair value of

the net assets acquired over the total consideration in other expense on the consolidated statements of loss and

comprehensive loss during the year ended December 31, 2024 (Note 27). The Purchase Gain was mainly related to the

increase in the price of gold between the July 2024 definitive agreement and the November 8, 2024 closing date, which had

an impact on the fair value of the assets acquired in the FCGI Transaction.

The Company had a measurement period of up to one year from the Closing Date to determine the acquisition-date fair

values of the acquired assets and liabilities; however, these values were finalized on December 31, 2024.

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 18 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

**8. Financial Instruments**<br>

**a)Carrying Values and Measurement of Financial Assets and Liabilities at Amortized Cost, Fair Value** 

**through Profit and Loss ("FVTPL") or Fair Value through Other Comprehensive Income ("FVTOCI")**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **December 31, 2025** | **Amortized cost**  | **FVTPL** | **FVTOCI** | **Total** |
| **Financial assets** |  |  |  |  |
| Cash and cash equivalents | **$63086** | **$—** | **$—** | **$63086** |
| Restricted cash | **15844** | **—** | **—** | **15844** |
| Derivative assets | **—** | **369** | **—** | **369** |
| Investments | **—** | **—** | **365** | **365** |
| **Financial liabilities** |  |  |  |  |
| Accounts payable and accrued liabilities | **24073** | **—** | **—** | **24073** |
| Debt | **—** | **—** | **—** | **—** |
| Derivative liabilities | **—** | **—** | **—** | **—** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **December 31, 2024** | **Amortized cost** | **FVTPL** | **FVTOCI** | **Total** |
| **Financial assets** |  |  |  |  |
| Cash and cash equivalents | $52190 | $— | $— | $52190 |
| Restricted cash | 15288 |  |  | 15288 |
| Derivative assets |  | 551 |  | 551 |
| Investments |  |  | 363 | 363 |
| **Financial liabilities** |  |  |  |  |
| Accounts payable and accrued liabilities | 19919 |  |  | 19919 |
| Debt | 14096 |  |  | 14096 |
| Derivative liabilities |  | 2611 |  | 2611 |

---

**b)Derivative Instruments**

The Company's derivative instruments consisted of bullion contracts as well as the conversion feature of the

Convertible Facility, which has been classified as an embedded derivative. On December 22, 2025, the Company

derecognized the conversion feature as a result of the conversion of the Convertible Facility (Note 13).

At December 31, 2025, the Company held put options (bullion contracts) covering 24,000 ounces of gold, with

maturities ranging from January to December 2026, at a strike price of $3,500 per ounce. The contracts were entered

into to manage the Company's exposure to fluctuations in the spot price of gold in relation to forecasted gold

production from the Florida Canyon mine.

The fair value of the bullion contracts is remeasured at each reporting date using quoted observable inputs, while the

fair value of the conversion feature was determined using the Binomial Tree method.

The total realized and unrealized losses for the years ended December 31, 2025 and 2024 were as follows:

---

| | | |
|:---|:---|:---|
|  | **Year ended** <br>**December 31,** | **Year ended** <br>**December 31,** |
| | **2025** | **2024** |
| **Total unrealized losses** | **$(326)** | $(1044) |
| Realized debt conversion feature losses | **$(38361)** | $— |
| Realized bullion contract losses | **(986)** |  |
| **Total realized losses** | **$(39347)** | $— |
| **Total realized and unrealized losses** | **$(39673)** | $(1044) |

---

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 19 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

The carrying value of the conversion feature was $2.6 million as at December 31, 2024. The derivative component

was valued, assuming no dividend yield, using the Binomial Tree method based on the following assumptions:

---

| | | |
|:---|:---|:---|
| | **December 22,** <br>**2025**<br>| **December 31,** <br>**2024**<br>|
| Maturity date | **July 31, 2027** | July 31, 2027 |
| Risk-free rate | **3.74%** | 4.39% |
| Share price | **2.92** | 0.86 |
| Expected volatility | **59.40%** | 57.10% |
| Annual interest rate | **9.25%** | 9.25% |
| Conversion price (per share) | **1.22** | 1.22 |
| Conversion price cap<sup>(1)</sup> | **1.83** | 1.83 |

---

(1)Pursuant to the terms of the Convertible Facility, the Company has a one-time right to require the Lender to convert up to 50%

of the outstanding principal into the Company's common shares if certain market conditions are met. Specifically, if the

volume-weighted average price ("VWAP") of the Company's shares at market close remains at least 50% above the applicable

conversion price for 30 consecutive trading days, the Company may elect this conversion, provided no event of default has

occurred or is continuing.

**c)Restricted Cash**

Restricted cash is primarily comprised of cash collateral held on bonding for Florida Canyon's reclamation

obligation (Note 15). This collateral has been classified as non-current, as it is not expected to be utilized until near

the end of Florida Canyon's mine life.

A summary of restricted cash is as follows:

---

| | | |
|:---|:---|:---|
| | **December 31,** <br>**2025**<br>| **December 31,** <br>**2024**<br>|
| Deposits for reclamation bonding (Note 15) | $15452 | $14919 |
| Other | 392 | 369 |
|  | $15844 | $15288 |

---

**d)Fair Value Information**

**i.Fair Value Measurement**

The categories of the fair value hierarchy of inputs used in the valuation techniques are as follows:

**Level 1:** Quoted prices in active markets for identical assets or liabilities;

**Level 2:** Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either

directly or indirectly; and

**Level 3:** Inputs for the asset or liability based on unobservable market data.

The levels in the fair value hierarchy into which the Company's financial assets and liabilities that are measured

and recognized on the Consolidated Statements of Financial Position at fair value on a recurring basis were

categorized as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **At December 31, 2025** | **At December 31, 2025** | **At December 31, 2024** | **At December 31, 2024** |
| | **Level 1** | **Level 2** | **Level 1** | **Level 2** |
| **Assets and Liabilities:** |  |  |  |  |
| Investments | **$365** | **$—** | $363 | $— |
| Derivative assets | **—** | **369** |  | 551 |
| Derivative liabilities | **—** | **—** |  | 2611 |

---

The methodology and assessment of inputs for determining the fair value of financial assets and liabilities as well

as the levels of hierarchy for the Company's financial assets and liabilities measured at fair value remain

unchanged from that at December 31, 2024.

As at December 31, 2025 and 2024 derivative assets consisted of bullion contracts, and as at December 31, 2024

derivative liabilities represented the embedded derivative component of the convertible debt instrument.

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 20 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

**ii.Valuation Techniques** 

**Investments and long-term investments**

The Company's investments are valued using quoted market prices in active markets and as such are classified

within level 1 of the fair value hierarchy and are primarily equity securities. The fair value of the equity securities is

calculated using the quoted market price multiplied by the quantity of shares held by the Company.

**Derivative assets and liabilities**

The Company's derivative assets and liabilities are comprised of the conversion feature of the convertible debt

facility and commodity contracts, which are classified within Level 2 of the fair value hierarchy and valued using

observable market prices.

**e)Financial Instruments and Related Risks**

The Company has exposure to risks of varying degrees of significance which could affect its ability to achieve its

strategic objectives for growth and shareholder returns. The principal financial risks to which the Company is exposed

are:

i) Credit risk

ii)Liquidity risk

iii)Market risk

1. Currency risk

2. Interest rate risk

3. Price risk

The Company's Board of Directors has overall responsibility for the establishment and oversight of the Company's

risk management framework and reviews the Company's policies on an ongoing basis.

**i.Credit Risk**

Credit risk is the risk that a counterparty may fail to satisfy its performance obligations under the terms of a

financial instrument. Credit risk results from cash and cash equivalents and trade and other receivables. The

Company maintains policies to limit the concentration of credit risk.

The Company manages credit risk on its cash and cash equivalents by diversifying these asset holdings with

multiple highly rated financial institutions, including the Bank of Montreal ("BMO") in Canada and the United States

and Wells Fargo ("WF") in the United States. Substantially, all of our cash and cash equivalents held with financial

institutions exceed government-insured limits. Credit risk on trade and other receivables is managed by ensuring

amounts are receivable from highly rated financial institutions. The Company has not recognized any expected

credit losses with respect to trade and other receivables. For cash and cash equivalents and trade and other

receivables, credit risk exposure equals the carrying amount on the balance sheet.

**ii.Liquidity Risk**

In the normal course of business, the Company enters into contracts that give rise to commitments for future

minimum payments. The following tables summarize the remaining contractual maturities of the Company's

financial liabilities and operating and capital commitments on an undiscounted basis:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Payments due by period 2025** | **Payments due by period 2025** | **Payments due by period 2025** | **Payments due by period 2025** | **Payments due by period 2025** |
| | **Less than**<br>**1 year**<br>| **Between**<br>**1 - 3 years**<br>| **Between**<br>**4 - 5 years**<br>| **After 5** <br>**years**<br>| **Total** |
| Accounts payable and accrued liabilities | **$24073** | **$-** | **$-** | **$-** | **$24073** |
| Tax liabilities | **3813** | **-** | **-** | **-** | **3813** |
| Lease liabilities | **12826** | **20511** | **6519** | **-** | **39856** |
| Reclamation and closure provision<sup>(1)</sup> | **1344** | **14554** | **2488** | **78589** | **96975** |
|  | **$42056** | **$35065** | **$9007** | **$78589** | **$164717** |

---

(1)Represents undiscounted uninflated future payments for the expected cost of Florida Canyon's mine reclamation and

closure, and DeLamar's water treatment costs.

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 21 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Payments due by period 2024** | **Payments due by period 2024** | **Payments due by period 2024** | **Payments due by period 2024** | **Payments due by period 2024** |
| | **Less than**<br>**1 year**<br>| **Between**<br>**1 - 3 years**<br>| **Between**<br>**4 - 5 years**<br>| **After 5** <br>**years**<br>| **Total** |
| Accounts payable and accrued liabilities | $19919 | $- | $- | $- | $19919 |
| Tax liabilities | 6482 | - | - | - | 6482 |
| Lease liabilities | 5251 | 4166 | 21 | - | 9438 |
| Credit Facility | 1718 | 20204 | - | - | 21922 |
| Reclamation and closure provision<sup>(1)</sup> | 1727 | 9022 | 4651 | 67895 | 83295 |
|  | $35097 | $33392 | $4672 | $67895 | $141056 |

---

(1)Represents undiscounted uninflated future payments for the expected cost of mine reclamation and closure. Recast

amounts previously reported as undiscounted inflated payments as undiscounted uninflated payments.

(2)Tax liabilities were previously included in accounts payable and accrued liabilities and have been recast separately.

**iii.Market Risk**

**1. Currency Risk**

The functional and reporting currency of the Company and its subsidiaries is the United States dollar ("USD"),

and the Company presents its financial results in USD. The Company's operations in the United States utilize

USD, while its non-operating corporate entities in Canada utilize the Canadian dollar ("CAD"). As a result, the

Company's financial results reported in USD are subject to changes in the value of the USD relative to these

local currencies. Because the Company's sales are denominated in USD and a portion of its net earnings are

denominated in CAD, the Company is negatively impacted by a strengthening CAD relative to the USD and

positively impacted by the inverse.

The Company's net earnings are affected by the revaluation of the following monetary assets and liabilities

denominated in CAD. The Company estimates that a 10% change in the exchange rate would result in a change

of about $0.4 million.

**2. Interest Rate Risk**

Interest rate risk is the risk that the fair values or future cash flows of the Company will fluctuate because of

changes in market interest rates. The Company has interest-bearing assets, where the risk is limited to

potential decreases on the interest rate offered on cash and cash equivalents held within a chartered Canadian

and US financial institutions. The Company's operating cash flows are mostly independent of changes in

market interest rates, which is impacted by economic uncertainties and inflation expectations. Management

considers this risk immaterial.

A 1% increase or decrease in the interest earned from financial institutions on cash and investments would

result in approximately a $0.5 million change in the Company's earnings before income taxes.

**3. Price Risk**

The Company's gold and silver production is sold in international markets. The market price of gold is the

primary driver of the Company's profitability and the ability to generate operating and free cash flow. The

Company may implement hedging strategies on an opportunistic basis to mitigate downside price risk on gold

production and had gold put option positions in place as at December 31, 2025 (Note 8b). Gold and silver

production remains exposed to prevailing market prices.

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 22 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

**9. Prepaids and other assets**<br>

The Company's receivables and prepaids were comprised of the following:

---

| | | |
|:---|:---|:---|
| | **December 31,** <br>**2025**<br>| **December 31,** <br>**2024**<br>|
| Prepaid insurance | **$2620** | $660 |
| Other prepaid expenses | **3779** | 1820 |
| Prepaid income tax | **—** | 208 |
| Other receivables | **1289** | 733 |
|  | **$7688** | $3421 |

---

**10. Inventories**<br>

The Company's inventories were comprised of the following:

---

| | | |
|:---|:---|:---|
| | **December 31,** <br>**2025**<br>| **December 31,** <br>**2024**<br>|
| Stockpile | **$1336** | $674 |
| In-process | **50715** | 51987 |
| Finished | **823** | 714 |
| Materials and supplies | **5432** | 4645 |
|  | **$58306** | $58020 |

---

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 23 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

**11. Mineral Properties, Plant, and Equipment**<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Mining Properties** | **Mining Properties** |  |  |
| | **Depletable**<br>**Non-**<br>**depletable**<br>| | | |
| | **Reserves and** <br>**Resources**<br>| **Exploration** <br>**and Evaluation**<br>| **Plant and** <br>**Equipment**<br>| **Total** |
| **Cost** |  |  |  |  |
| At December 31, 2023 | $- | $68447 | $5515 | $73962 |
| Acquisition | - | 2100 | 40584 | 42684 |
| Additions | 3641 | (2467) | 2283 | 3457 |
| Disposals | - | (9750) | (615) | (10365) |
| Foreign exchange translation | - | - | (48) | (48) |
| At December 31, 2024 | 3641 | 58330 | 47719 | 109690 |
| Additions | **35267** | **10538** | **32943** | **78748** |
| Disposals | **-** | **(415)** | **(3221)** | **(3636)** |
| Transfers | **(13107)** | **-** | **13107** | **-** |
| **At December 31, 2025** | **$25801** | **$68453** | **$90548** | **$184802** |
| **Accumulated depreciation and depletion** |  |  |  |  |
| At December 31, 2023 | - | (45) | (2491) | (2536) |
| Depreciation | - | (7) | (2462) | (2469) |
| Depreciation charge captured in inventory | - | - | 10 | 10 |
| Disposals | - | - | 417 | 417 |
| Foreign exchange translation | - | - | 7 | 7 |
| At December 31, 2024 | - | (52) | (4519) | (4571) |
| Depreciation | **(2376)** | **(8)** | **(12508)** | **(14892)** |
| Depreciation charge captured in inventory | **(2705)** | **-** | **(18)** | **(2723)** |
| Disposals | **-** | **-** | **2929** | **2929** |
| Foreign exchange translation | **-** | **-** | **-** | **-** |
| **At December 31, 2025** | **$(5081)** | **$(60)** | **$(14116)** | **$(19257)** |
| **Carrying amounts** |  |  |  |  |
| At December 31, 2024 | $3641 | $58278 | $43200 | $105119 |
| **At December 31, 2025** | **$20720** | **$68393** | **$76432** | **$165545** |

---

**DeLamar Land Claims Acquisition**

On March 8, 2024, the Company completed the acquisition of seventeen patented claims in the Rich Gulch area of the

DeLamar Project. Under the terms of the purchase agreement, the Company acquired all of the interests in exchange for

$2.1 million, which was satisfied through the issuance of 2,959,769 common shares in the capital of the Company.

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 24 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

**12. Accounts Payable and Accrued Liabilities**<br>

Accounts payable and accrued liabilities consist of:

---

| | | |
|:---|:---|:---|
| | **December 31,** <br>**2025**<br>| **December 31,** <br>**2024**<br>|
| Trade payables | **$14831** | $9510 |
| Accrued liabilities | **2429** | 3426 |
| Accrued employee payroll and benefits | **6066** | 4341 |
| Accrued other tax liabilities | **747** | 2642 |
|  | **$24073** | $19919 |

---

**13. Debt**<br>

**Convertible Facility & Equipment Loans**

A summary of the convertible debt facility is as follows:

---

| | |
|:---|:---|
| | **Facility** |
| Balance, January 1, 2024 | $10028 |
| Drawdown | 3936 |
| Transaction costs | (452) |
| Accretion | 810 |
| Interest expense | 1154 |
| Interest payments |  |
| Change on loan modification | (1513) |
| Balance, December 31, 2024 | $13963 |
| Interest expense | **1585** |
| Accretion | **1331** |
| Foreign exchange gain | **—** |
| Interest payment | **(4096)** |
| Conversion of loan to common shares | **(12783)** |
| Balance, December 31, 2025 | **$—** |

---

Debt consists of:

---

| | | |
|:---|:---|:---|
| | **December 31,** <br>**2025**<br>| **December 31,** <br>**2024**<br>|
| Convertible facility | **—** | 13963 |
| Equipment loans | **—** | 133 |
| Total debt | **$—** | $14096 |

---

On November 8, 2024 the Company further amended the agreement with Beedie Investment Ltd. and drew a subsequent

advance of $5.0 million on connection with the acquisition of FCGI.

On December 22, 2025, Beedie Investment Ltd. exercised its option to convert the $15 million outstanding under its secured

non-revolving term convertible debt facility into 12,295,081 common shares at a conversion price of $1.22. At the time of

conversion, the fair value of the Company's common shares was determined to be $4.44 per share, resulting in an aggregate

conversion value of $54.6 million. As a result of the conversion, the Company derecognized the Convertible Facility and the

related embedded derivative. Prior to conversion, the Convertible Facility had a maturity date of July 31, 2027 and was

convertible, at the Lender's option, into common shares of the Company at a price of $1.22 per share at any time prior to

maturity.

Amounts drawn under the Convertible Facility were subject to interest at a rate of 9.25% per annum. Undrawn amounts were

subject to a stand-by fee of 2.00% per annum. Interest was accrued through December 31, 2024, as no payments were

required prior to 2025. Concurrent with the conversion of the Convertible Facility, the Company paid the outstanding balance

of $2.9 million in accrued interest and standby fees on this facility.

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 25 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

As at December 31, 2024, the Company had $15.0 million drawn under the Convertible Facility.

For the year ended December 31, 2025, the Company recorded interest expense of $1.6 million. (2024 - $1.2 million).

**14. Leases**<br>

The Company's leases comprise of the following:

---

| | |
|:---|:---|
| Balance, January 1, 2024 | $1080 |
| Addition from acquisition of Florida Canyon | 9196 |
| Change in estimates and modification | 595 |
| Payments | (2341) |
| Interest | 221 |
| Adjustment on currency translation | (39) |
| Balance, December 31, 2024 | $8712 |
| Additions | **21618** |
| Payments<sup>(1)</sup> | **(10156)** |
| Disposal | **50** |
| Interest | **1606** |
| Balance, December 31, 2025 | **$21830** |
| Less: current portion | **(7677)** |
| Long-term leases | **$14153** |

---

(1)Excludes $1.8 million of cash prepayments for equipment leases for which no lease liability had been recognized, as the leases had

not yet commenced as at December 31, 2025.

**15. Reclamation Provision**<br>

Changes to the reclamation and closure provision for the year ended December 31, 2025 and 2024 are as follows:

---

| | | |
|:---|:---|:---|
| | **December 31,** <br>**2025**<br>| **December 31,** <br>**2024**<br>|
| Balance, beginning of period | **$54527** | $25492 |
| Acquisition of Florida Canyon | **—** | 29817 |
| Reclamation provision accretion (Note 20) | **2457** | 1217 |
| Reclamation paid | **(991)** | (1188) |
| Revisions in estimates and obligations<sup>(1)</sup> | **9332** | (811) |
| Balance, end of period | **$65325** | $54527 |
| Less: current portion | **(1344)** | (1615) |
| Long-term portion | **$63981** | $52912 |

---

(1)The reclamation provision increased due to inflationary pressures and the expansion of mine infrastructure.

The inflated and discounted provisions on the Statement of Financial Position as at December 31, 2025, using inflation rates

between 2.1% and 2.3% (2024 - between 2.0% and 2.1%) and discount rates between 4.1% and 4.3% (2024 - between 4.4%

and 4.6%) being the risk-free rate based on the 10 year US Treasury Yields, was $65.3 million (2024 - $54.5 million).

Revisions made to the reclamation obligations in 2025 were primarily a result of increased unit cost estimates and

expansion of site infrastructure. Florida Canyon's reclamation expenditures are expected to be incurred between 2027 and

2035. The reclamation costs of the DeLamar Project reflect water treatment costs for the next 75 years.

The total undiscounted value of the reclamation obligation as at December 31, 2025 was $97.0 million (2024 -

$88.3 million).

The accretion expense for the year ended December 31, 2025 was $2.5 million (2024 - $1.2 million) (Note 19). Reclamation

expenditures paid in 2025 totaled $1.0 million (2024 - $1.2 million).

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 26 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

**16. Share Capital and Employee Compensation Plans**<br>

The Company grants stock options and equity-settled Restricted Share Units ("RSUs") to eligible employees and officers, and

Deferred Share Units ("DSUs") to eligible directors. The associated expenses are recognized over the vesting period,

generally within three years.

**a)Stock Options**

For the years ended December 31, 2025, the total share-based compensation expense relating to stock options was

$0.5 million expense (2024 - $0.4 million expense) and is presented as a component of general and administrative

expense (Note 19).

The following table summarizes changes in stock options for the year ended December 31, 2025 and 2024:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year ended** <br>**December 31, 2025** | **Year ended** <br>**December 31, 2025** | **Year ended** <br>**December 31, 2024** | **Year ended** <br>**December 31, 2024** |
| | **Number of**<br>**options**<br>| **Weighted** <br>**Average**<br>**Exercise** <br>**Price**<br>| **Number of**<br>**options**<br>| **Weighted** <br>**Average**<br>**Exercise** <br>**Price**<br>|
| Outstanding, beginning of period | **2624** | **$2.38** | 3300 | $3.06 |
| Granted | **1654** | **1.02** | 92 | 2.24 |
| Exercised | **(72)** | **1.21** | (638) | 5.38 |
| Forfeited | **(978)** | **3.22** | (130) | 4.82 |
| Outstanding, end of period | **3228** | **$1.45** | 2624 | $2.38 |

---

The following table summarizes information about the Company's stock options outstanding at December 31, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Options Outstanding** | **Options Outstanding** | **Options Outstanding** | **Options Exercisable** | **Options Exercisable** |
| <br>**Range of Exercise Prices** | **Number** <br>**Outstanding** <br>**as at** <br>**December 31,** <br>**2025**<br>| **Weighted** <br>**Average** <br>**Remaining** <br>**Contractual** <br>**Life (years)**<br>| **Weighted** <br>**Average** <br>**Exercise** <br>**Price**<br>| **Number** <br>**Outstanding** <br>**as at** <br>**December 31,** <br>**2025**<br>| **Weighted** <br>**Average** <br>**Exercise** <br>**Price**<br>|
| $0.76 - $2.15 | **2946** | **3.5** | **$1.09** | **1144** | **$1.09** |
| $2.16 - $4.30 | **34** | **0.4** | **3.85** | **34** | **3.85** |
| $4.31 - $6.46 | **209** | **0.9** | **4.93** | **209** | **4.93** |
| $6.47 - $8.59 | **39** | **0.2** | **7.73** | **40** | **7.73** |
|  | **3228** | **3.3** | **$1.45** | **1427** | **$1.90** |

---

The following assumptions were used in the Black-Scholes option pricing model in determining the fair value of

options granted during the years ended December 31:

---

| | | |
|:---|:---|:---|
|  | **Year ended** <br>**December 31,** | **Year ended** <br>**December 31,** |
| | **2025** | **2024** |
| Expected life (years) | **2.8** | 2.3 |
| Expected volatility | **52.6%** | 60.0% |
| Expected dividend yield | **—%** | —% |
| Risk-free interest rate | **2.8%** | 3.1% |
| Expected forfeiture rate | **—%** | —% |
| Fair value per option (C$) | **$1.47** | $1.11 |

---

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 27 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

**b)RSUs**

RSUs are granted to eligible employees and officers where each RSU has a value equivalent to one Integra common

share. The RSUs vest in 1/3 installments at the first, second and third anniversary date of the grant, with settlement

occurring either in cash or common shares, determined at the discretion of the Board.

The Company recorded a $0.5 million expense for RSUs for the years ended December 31, 2025 (2024 - $0.8 million

expense) which is included in general and administrative expenses (Note 19).

The following table summarizes changes in RSUs for the year ended December 31, 2025 and 2024:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year ended** <br>**December 31, 2025** | **Year ended** <br>**December 31, 2025** | **Year ended** <br>**December 31, 2024** | **Year ended** <br>**December 31, 2024** |
| | **Number** <br>**outstanding**<br>| **Fair value**  | **Number** <br>**outstanding**<br>| **Fair value** |
| Outstanding, beginning of period | **835** | **$719** | 1165 | $1573 |
| Granted | **1593** | **1697** |  |  |
| Settled | **(389)** | **(415)** | (263) | (569) |
| Forfeited | **(392)** | **(387)** | (67) | (88) |
| Change in value | **—** | **187** |  | (197) |
| Outstanding, end of period | **1647** | **$1801** | 835 | $719 |

---

**c)DSUs**

DSUs are granted to non-executive directors where each DSU has a value equivalent to one Integra common share

which vest on grant date. DSUs must be retained until the director leaves the Board, with settlement occurring either

in cash or common shares, determined at the discretion of the Board.

The Company recorded a $0.9 million expense for DSUs for the years ended December 31, 2025 (2024 - $0.3 million

expense) which is included in general and administrative expenses (Note 19).

The following table summarizes changes in DSUs for the year ended December 31, 2025 and 2024:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year ended** <br>**December 31, 2025** | **Year ended** <br>**December 31, 2025** | **Year ended** <br>**December 31, 2024** | **Year ended** <br>**December 31, 2024** |
| | **Number** <br>**outstanding**<br>| **Fair value** | **Number** <br>**outstanding**<br>| **Fair value** |
| Outstanding, beginning of period | **698** | **$1226** | 732 | $1502 |
| Granted | **394** | **426** | 146 | 121 |
| Cancelled | **(50)** | **(49)** | (124) | (118) |
| Settled | **(153)** | **(304)** | (56) | (191) |
| Change in value | **—** | **79** |  | (88) |
| Outstanding, end of period | **889** | **$1378** | 698 | $1226 |

---

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 28 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

**d)Warrants**

For the period ended December 31, 2025, the Company had 7,681,174 (2024 - 8,305,874) warrants outstanding at a

weighted average exercise price of CAD$1.20, which mature on March 13, 2027. These warrants were issued as part

of the March 13, 2024 bought deal public offering (Note 16f). The following table summarizes changes in these

warrants for the year ended December 31, 2025 and 2024:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year ended** <br>**December 31, 2025** | **Year ended** <br>**December 31, 2025** | **Year ended** <br>**December 31, 2024** | **Year ended** <br>**December 31, 2024** |
| | **Number** <br>**outstanding**<br>| **Fair value** | **Number** <br>**outstanding**<br>| **Fair value** |
| Outstanding, beginning of period | **8306** | **$7392** | 2015 | $2096 |
| Issued<sup>(1)</sup> | **—** | **—** | 8306 | 7392 |
| Exercised | **(625)** | **(538)** |  |  |
| Expired | **—** | **—** | (2015) | (2096) |
| Outstanding, end of period | **7681** | **$6854** | 8306 | $7392 |

---

(1)On March 13, 2024, the Company issued 8,305,874 warrants at CAD$1.20 per share and exercisable until March 13, 2027, as

part of a bought deal public offering.

**e)Authorized Shares**

The Company's authorized capital stock consists of an unlimited number of common shares and an unlimited

number of preferred shares without nominal or par value.

**f)Equity Financings**

On November 8, 2024 and upon the FCGI acquisition close, the Company issued 14,900,000 shares and received net

proceeds of $14.0 million after deducting fees and expenses of $1.0 million. These shares were issued from the

completion of a bought deal public offering on August 21, 2024. Pursuant to which the Company issued a total of

14,900,000 units at a price of CA$1.35 per unit.

On March 13, 2024 the Company completed a bought deal public offering, issuing a total of 16,611,750 units at a

price of CAD$0.90 per unit, for net proceeds of $9.8 million after deducting fees and expenses of $1.2 million. Each

unit consisted of one common share and one-half of one common share purchase warrant. Each whole warrant

entitles the holder to purchase one additional common share at an exercise price of CAD$1.20 for a period of 36

months from the closing date.

**17. Revenue**<br>

During the year ended December 31, 2025, the Company recorded $243.9 million (2024 - $30.4 million) of revenue from gold

and silver sales, with two customers individually accounting for more than 10% of the Company's total revenue, representing

approximately 60%, and 37% of total revenue, respectively (2024 - one customer representing 99%). Although revenues are

concentrated among these customers, the Company is not economically dependent on any particular customer, as gold is

readily marketable through a wide range of global traders. All metal sales are made within the United States.

**18. Production Costs**<br>

---

| | | |
|:---|:---|:---|
|  | **Year ended** <br>**December 31,** | **Year ended** <br>**December 31,** |
| | **2025** | **2024** |
| Mining | **$62352** | $8533 |
| Crushing and processing | **41749** | 5803 |
| Mine general and administrative | **13259** | 3993 |
| Refining and desorption | **736** | 116 |
| Changes in inventories | **1424** | 2966 |
|  | **$119520** | $21411 |

---

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 29 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

**19. General and Administrative Expenses**<br>

---

| | | |
|:---|:---|:---|
|  | **Year ended** <br>**December 31,** | **Year ended** <br>**December 31,** |
| | **2025** | **2024** |
| Corporate administration | **$7090** | $4466 |
| Share-based compensation | **1970** | 1543 |
| Depreciation | **773** | 898 |
|  | **$9833** | $6907 |

---

**20. Interest and Finance Expense**<br>

---

| | | |
|:---|:---|:---|
|  | **Year ended** <br>**December 31,** | **Year ended** <br>**December 31,** |
| | **2025** | **2024** |
| Interest expense | **$95** | $6 |
| Debt interest expense (Note 13) | **1585** | 1154 |
| Lease interest expense (Note 14) | **1606** | 221 |
| Reclamation accretion expense (Note 15) | **2457** | 1217 |
| Debt accretion expense (Note 13) | **1331** | 810 |
|  | **$7074** | $3408 |

---

**21. Income Taxes**<br>

The income taxes recognized in net loss and comprehensive loss are as follows:

---

| | | |
|:---|:---|:---|
|  | **Year ended** <br>**December 31,** | **Year ended** <br>**December 31,** |
| | **2025** | **2024** |
| Current tax expense | **$8800** | $1288 |
| Deferred tax expense (recovery) | **12506** | (552) |
|  | **$21306** | $736 |

---

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 30 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

Reconciliation of effective income tax rate:

---

| | | |
|:---|:---|:---|
|  | **Year ended** <br>**December 31,** | **Year ended** <br>**December 31,** |
| | **2025** | **2024** |
| Earnings for the period before income taxes | **$19063** | $(8765) |
| Statutory tax rate | **27%** | 27% |
| Income taxes computed at statutory rates | **5147** | (2366) |
| Increase (decrease) due to: |  |  |
| Change in deferred tax assets not recognized | **6054** | 7007 |
| Change in tax rate | **—** | 120 |
| Differing effective tax rate on earnings in foreign jurisdiction | **(4208)** | (26) |
| Statutory depletion | **(4042)** | (737) |
| State tax, net of federal benefit | **5501** | 552 |
| Gain on bargain purchase of Florida Canyon Gold Inc. | **—** | (3829) |
| Realized debt conversion feature losses | **10358** |  |
| Adjustments with respect of prior periods | **1364** |  |
| Share-based compensation | **501** | 417 |
| Other | **631** | (402) |
|  | **$21306** | $736 |

---

The approximate tax effect of each item that gives rise to the Company's recognized deferred tax assets and liabilities as at

December 31, 2025 and 2024 is as follows:

---

| | | |
|:---|:---|:---|
| | **2025** | **2024** |
| Exploration and evaluation assets | **(5663)** | (537) |
| Mine Development | **2833** | 880 |
| Property, plant and equipment | **(10321)** | (1170) |
| Tax loss carryovers | **836** | 2638 |
| Right-to-use assets | **(149)** | (146) |
| Convertible Debt | **-** | (889) |
| Inventory | **28** | (2028) |
| Unrealized foreign exchange gains | **-** | (88) |
| Reclamation and Remediation Liability  | **167** | 504 |
| Lease liabilities | **(25)** | 1793 |
| Other | **1357** | 612 |
| Deferred tax (liabilities) assets | **$(10937)** | $1569 |

---

The amounts of deductible temporary differences and unused tax losses for which the Company has not recognized a

deferred tax asset in the consolidated statements of financial position are as follows:

---

| | | |
|:---|:---|:---|
| | **2025** | **2024** |
| Exploration and evaluation assets | **$48511** | $53636 |
| Property, plant and equipment | **48285** | 1615 |
| Tax loss carryovers | **163268** | 141528 |
| Share-issuance costs | **2463** | 3259 |
| Reclamation and closure provision | **65325** | 25069 |
| Leases | **821** | 937 |
| Unrealized foreign exchange losses | **-** | 671 |
| Charitable contributions | **237** | 78 |
| Accrued expenses | **389** | 76 |
| Convertible debt facility | **-** | 2416 |
|  | **$329299** | $229285 |

---

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 31 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

At December 31, 2025, the Company had unrecognized tax loss carryovers of approximately $96.5 million (CAD

$129.1 million) (2024 - $85.0 million or CAD $122.3 million), which expire between 2027 and 2045, available to offset future

taxable income in Canada. The Company also had unrecognized tax loss carryovers of approximately $0.2 million (2024 -

$0.9 million) which expire in 2037 and $66.6 million (2024 - $55.7 million), without expiration, available to offset future U.S.

taxable income. Of those U.S. net operating loss carryovers, $55.8 million (2024 - $7.2 million) are subject to limitation under

Section 382.

**22. Supplemental Cash Flow**<br>

The following table summarizes other operating activities adjustments for income statement items in operating activities:

---

| | | |
|:---|:---|:---|
| | **Year ended** <br>**December 31,** | **Year ended** <br>**December 31,** |
| <br>**Other operating activities** | **2025** | **2024** |
| Adjustments for cash income statement items: |  |  |
| Reclamation expenditures (Note 15) | **$(991)** | $(1188) |
| Adjustments for non-cash income statement items: |  |  |
| Unrealized foreign exchange losses (Note 20) | **49** |  |
| Loss on disposal of mineral properties, plant and equipment (Note 11) | **239** |  |
| Other operating | **—** | (394) |
| Bargain purchase gain | **—** | (14181) |
| Change on debt modification | **—** | (1513) |
| Change in estimate of reclamation costs at closed mines (Note 25) | **232** | 477 |
|  | **$(471)** | $(16799) |

---

The following table summarizes the change in working capital in operating activities:

---

| | | |
|:---|:---|:---|
| | **Year ended** <br>**December 31,** | **Year ended** <br>**December 31,** |
| <br>**Change in working capital** | **2025** | **2024** |
| Trade and other receivables | **$—** | $4013 |
| Inventories (Note 10) | **474** | 4119 |
| Prepaids and other assets (Note 9) | **(1965)** | 1291 |
| Accounts payable and accrued liabilities (Note 12) | **2532** | (2036) |
|  | **$1041** | $7387 |

---

**23. Segmented Information**<br>

The Company's reportable segments are assessed regularly for performance by the Company's Chief Executive Officer, who

is the Company's chief operating decision maker ("CODM"). An operating segment is defined as a component of the

company that has current mine production or anticipated future mine production. The Company has concluded that it has

two operating segments: the Florida Canyon mine and the advanced stage DeLamar Project. Other business activities,

including those related to the corporate office, that are not reportable are combined and presented as "all other" to reconcile

with the Company's consolidated results. Segment performance is evaluated using a number of measures. Operating mines

are assessed based on mine operating earnings, while both mines and projects are evaluated based on capital expenditures.

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 32 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

Segments and their performance measures are listed below:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **For the year ended December 31, 2025** | **For the year ended December 31, 2025** | **For the year ended December 31, 2025** | | | |
| **Segment** | **Revenue** | **Production** <br>**costs, royalties,** <br>**and excise taxes**<br>| <br>**Depreciation** | <br>**Mine operating** <br>**earnings**<br>| <br>**Capital** <br>**expenditures**<sup>(1)</sup><br>|
| Florida Canyon | **$243926** | **$135260** | **$14119** | **$94547** | **$57961** |
| DeLamar | **—** | **—** | **—** | **—** | **602** |
| All other | **—** | **—** | **—** | **—** | **529** |
|  | **$243926** | **$135260** | **$14119** | **$94547** | **$59092** |

---

(1)Includes payments for mineral properties, plant and equipment, and equipment leases.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **For the year ended December 31, 2024** | **For the year ended December 31, 2024** | **For the year ended December 31, 2024** | | | |
| **Segment** | **Revenue** | **Production** <br>**costs, royalties,** <br>**and excise taxes**<br>| <br>**Depreciation** | <br>**Mine operating** <br>**earnings**<br>| <br>**Capital** <br>**expenditures**<sup>(1)</sup><br>|
| Florida Canyon | $30350 | $23117 | $1859 | $5374 | $2301 |
| DeLamar |  |  |  |  | 705 |
| All other |  |  |  |  | 324 |
|  | $30350 | $23117 | $1859 | $5374 | $3330 |

---

(1)Includes payments for mineral properties, plant and equipment.

---

| | | |
|:---|:---|:---|
| | **December 31,** <br>**2025**<br>| **December 31,** <br>**2024**<br>|
| <br>**Segment** | **Assets** | **Assets** |
| Florida Canyon | **$232155** | $145433 |
| DeLamar | **39543** | 35972 |
| All other | **39526** | 55679 |
|  | **$311224** | $237084 |

---

**24. Commitments**<br>

**Florida Canyon Mine Royalty**

The production from Florida Canyon mine is subject to two royalties, the first is a 2.5% net smelter returns royalty ("NSR")

with Top Hat Partnership, and the second is a 3.25% NSR with a subsidiary of Triple Flag Precious Metals Corp. ("Triple

Flag")

**DeLamar Project Royalty** 

Future production from the DeLamar project is subject to a 2.5% NSR payable to Triple Flag. The NSR will be reduced to

1.0% once Triple Flag has received a total cumulative royalty payment of CA$10.0 million ($7.4 million). Other NSRs ranging

from 2.0% to 5.0% are also payable to third-party landholders on certain claims.

In 2024, Integra Resources Corp. entered into a binding agreement with Wheaton Precious Metals (Cayman) Co., a wholly-

owned subsidiary of Wheaton Precious Metals Corp. ("Wheaton"), pursuant to which Wheaton acquired a 1.5% NSR on metal

production from all claims of the DeLamar Project (comprised of the DeLamar and Florida Mountain Deposits) for an

aggregate cash purchase price of $9.75 million, to be paid in two installments. The first installment of $4.875 million was

received by Integra on March 7, 2024 upon closing of the transaction. The second installment of $4.875 million was

received on July 8, 2024.

**Nevada North Project Royalty**

Future production from the Wildcat property and gold production from the Mountain View property is subject to a 0.5% NSR

payable to Franco-Nevada Corp. Certain claims on the property are also subject to a 1.0% NSR to Franco- Nevada and a 1.5%

NSR to Triple Flag. Other NSRs ranging from 0.05% to 1.5% are also payable to third-party landholders on certain claims.

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 33 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

**25. Contingencies**<br>

The following is a summary of the contingent matters and obligations relating to the Company as at December 31, 2025.

**General**

The Company is subject to various investigations, claims and legal and tax proceedings covering matters that arise in the

ordinary course of business activities. These matters are inherently uncertain, and there is a potential for some of them to

be resolved unfavorably for the Company. As of the date of the financial statements, specific conditions may be present that

could lead to a financial loss for the Company.

It is management's opinion that none of these matters are anticipated to have a material impact on the Company's results of

operations or financial condition.

**Legal Proceedings**

Alio Gold Inc ("Alio"), a subsidiary of the Company since November 8, 2024, received a Notice of Civil Claim in May 2019

from a former shareholder of Rye Patch Gold Corp ("Rye Patch") whose shares were acquired by Alio. The plaintiff brought

the claim in the Supreme Court of British Columbia ("the Court") pursuant to the Class Proceedings Act and is seeking

damages against Alio for alleged misrepresentations with respect to anticipated gold production during the year ended

December 31, 2018. In March 2021, the Court dismissed, in its entirety, the plaintiff's application to certify the action as a

class proceeding. In April 2021, the Company received notice that the plaintiff is pursuing an appeal of the court's decision

to dismiss the plaintiff's certification application.

The appeal was argued in the Court of Appeal in January 2022 and in March 2022 the Court of Appeal released its decision

allowing the appeal but remitting the matter of certification to the trial court for further consideration. On July 28, 2023, the

Court certified a class proceeding against Alio. Pursuant to the Court's decision, the class members in the class proceeding

include all individuals or entities whose Rye Patch shares were acquired by Alio in exchange for Alio common shares and

cash as part of the plan of arrangement entered into between Alio and Rye Patch, but excludes all of those individuals or

entities that sold their shares in Alio prior to August 10, 2018. The proceeding is currently before the British Columbia

Supreme Court on a summary trial application in regards to the certified common issues brought by the plaintiff. The

summary trial application hearing took place between June and October 2025, and the Court's decision has not yet been

released.

The Company has reviewed the claim and is of the view that it is without merit. However, the outcome of the claim is not

determinable at this time. Accordingly, the Company did not recognize any liability in connection with this claim upon the

acquisition of Florida Canyon and has not recorded a liability as at December 31, 2025.

**26. Related Party Transactions**<br>

The Company's related parties include its subsidiaries, and key management personnel. Transactions with the Company's

subsidiaries have been eliminated upon consolidation.

**Compensation of key management personnel**

Key management personnel compensation is summarized as follows:

---

| | | |
|:---|:---|:---|
| | **2025** | **2024** |
| Short-term employee benefits<sup>(1)</sup> | **$1964** | $1447 |
| Share-based compensation<sup>(2)</sup> | **1022** | 853 |
|  | **$2986** | $2300 |

---

(1)Includes annual salaries and short-term incentives.

(2)Includes annual stock option grants, DSUs, and RSUs.

During the year, the Company incurred $0.1 million in expenses with companies which had a common director (2024 - nil).

As at December 31, 2025, $0.7 million (2024 - $0.1 million) was due to related parties, including companies with a common

director and key management personnel. These balances primarily relate to payroll expenses, consulting fees, bonus

accruals, and other expenses.

---

| | |
|:---|:---|
| INTEGRA RESOURCES CORP. | 34 |

---

---

| | |
|:---|:---|
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | **Notes to the Consolidated Financial Statements** |
| ![integra_resources_logo.jpg](itrg-20251231_g1.jpg) | As at December 31, 2025 and 2024, and <br>for the years ended December 31, 2025 and 2024<br>(tabular amounts are in thousands of USD$ except number of shares, <br>options and per share amounts, unless otherwise noted)<br>|

---

**27. Other Expense**<br>

---

| | | |
|:---|:---|:---|
|  | **Year ended** <br>**December 31,** | **Year ended** <br>**December 31,** |
| | **2025** | **2024** |
| Transaction and integration costs | **$(2198)** | $(3862) |
| Gain on bargain purchase of Florida Canyon Gold Inc. | **—** | 14181 |
| Gain on debt modification | **—** | 1513 |
| Non-deductible tax charges | **(1044)** |  |
| Change in estimated reclamation provision (Note 15) | **(232)** | (477) |
| Gain (loss) on disposal of mineral properties, plant and equipment (Note 11) | **(239)** | 109 |
| Other (expense) income | **(362)** | 110 |
|  | **$(4075)** | $11574 |

---

**28. Subsequent Events**<br>

**Financing**

On February 9, 2026, the Company completed a bought deal public offering of 18,121,600 common shares of the Company

(the "Common Shares") at a price of US$3.40 per Common Share for aggregate gross proceeds of $61.6 million. The

Company intends to use the net proceeds to fund pre-production capital expenditures at the DeLamar Project, including

procurement work, early works and land purchase.

**Ranch Acquisition**

On February 17, 2026, the Company completed the acquisition of a strategically located 6,600-acre ranch contiguous with

DeLamar for a purchase price of $12.5 million. The Ranch Acquisition supports the Company's strategy for de-risked and

efficient Project advancement by consolidating land ownership surrounding key infrastructure at DeLamar, while

concurrently securing significant permitting, environmental, operational, and community-alignment benefits.

## Exhibit 99.3

![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg)

**Management's Discussion and Analysis**

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

---

**Cautionary Note**<br>

**Forward-Looking Information**

This MD&A contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation. Forward-looking statements are included to provide information about management's current expectations and plans that allows investors and others to get a better understanding of the Company's operating environment, business operations and financial performance and condition. Forward-looking statements relate, but are not limited, to: the planned exploration, development and mining activities and expenditures of the Company, including estimated production, cash costs, all-in sustaining costs and capital expenditures; the estimation, realization and growth of mineral resource and reserve estimates; the development, operational and economic results of economic studies on the Company's projects; magnitude or quality of mineral deposits; anticipated advancement, timing and results of permitting for the Company's projects; benefits of non-GAAP measures; anticipated advancement of the Company's projects and future exploration prospects; the future price of metals; government regulation of mining operations; environmental risks; relationships with local communities; and future growth potential of the Company's projects. Forward-looking statements are often identified by the use of words such as "may", "will", "could", "would", "anticipate", 'believe", "expect", "intend", "potential", "estimate", "budget", "scheduled", "plans", "planned", "forecasts", "goals" and similar expressions.

Forward-looking statements are based on a number of factors and assumptions made by management and considered reasonable at the time such statement was made. Assumptions and factors include: the Company's abilities to complete its planned exploration and development programs; the absence of adverse conditions at the Company's projects; no unforeseen operational delays; no material delays in obtaining necessary permits; results of independent engineer technical reviews; the possibility of cost overruns and unanticipated costs and expenses; the price of gold remaining at levels that continue to render the Company's projects economic, as applicable; the Company's ability to continue raising necessary capital to finance operations; and the ability to realize on the mineral resource and reserve estimates. Forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: general business, economic and competitive uncertainties; the actual results of current and future exploration activities; conclusions of economic evaluations; meeting various expected cost estimates; changes in project parameters and/or economic assessments as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; risks related to local communities; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); title to properties; and other factors beyond the Company's control and as well as those factors included herein and elsewhere in the Company's disclosure. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. This list in not exhaustive of the factors that may affect any of the Company's forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions and have attempted to identify important factors that could cause actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Readers are advised to study and consider risk factors disclosed in the Company's Annual Information Form dated March 24, 2026 for the fiscal year ended December 31, 2025, which is available on the SEDAR+ issuer profile for the Company at <u>www.sedarplus.ca</u> and on the EDGAR issuer profile for the Company at <u>www.sec.gov</u>.

Investors are cautioned not to put undue reliance on forward-looking statements. The forward looking-statements contained herein are made as of the date of this MD&A and, accordingly, are subject to change after such date. The Company disclaims any intent or obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

**Cautionary Note to U.S. Investors**

This MD&A includes Mineral Resource and Reserve classification terms that comply with reporting standards in Canada and the Mineral Resource and Reserve estimates are made in accordance with National Instrument 43-101 - *Standards of Disclosure for Mineral Projects* ("NI 43-101"). NI 43-101 is a rule of the Canadian Securities Administrators which establishes

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|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

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standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Technical disclosure contained in this MD&A has been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Classification System. These standards differ from the requirements of the U.S. Securities and Exchange Commission ("SEC") and resource and reserve information contained in this MD&A may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements.

**Qualified Person**

The scientific and technical information contained in this MD&A has been reviewed and approved by James Frost, P.Eng., Director, Technical Services of Integra, who is a "Qualified Person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

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| | | |
|:---|:---|:---|
| **TABLE OF CONTENTS** | **TABLE OF CONTENTS** | |
| [1.](#id80abf9396c846d9b43c8c111c3611a2_10) | [Introduction](#id80abf9396c846d9b43c8c111c3611a2_10) | **[5](#id80abf9396c846d9b43c8c111c3611a2_10)** |
| [2.](#id80abf9396c846d9b43c8c111c3611a2_13) | [Description of B](#id80abf9396c846d9b43c8c111c3611a2_13)usiness | **[5](#id80abf9396c846d9b43c8c111c3611a2_13)** |
| [3.](#id80abf9396c846d9b43c8c111c3611a2_16) | [2025 Highlights](#id80abf9396c846d9b43c8c111c3611a2_16) | **[6](#id80abf9396c846d9b43c8c111c3611a2_16)** |
| [4.](#id80abf9396c846d9b43c8c111c3611a2_19) | [Guidance and 2026 Outlook](#id80abf9396c846d9b43c8c111c3611a2_19) | **[7](#id80abf9396c846d9b43c8c111c3611a2_19)** |
| [5.](#id80abf9396c846d9b43c8c111c3611a2_22) | [Health, Safety and Environment](#id80abf9396c846d9b43c8c111c3611a2_22) | **[9](#id80abf9396c846d9b43c8c111c3611a2_22)** |
| [6.](#id80abf9396c846d9b43c8c111c3611a2_25) | [Operating Performance](#id80abf9396c846d9b43c8c111c3611a2_25) | **[10](#id80abf9396c846d9b43c8c111c3611a2_25)** |
| [7.](#id80abf9396c846d9b43c8c111c3611a2_28) | [Development Projects](#id80abf9396c846d9b43c8c111c3611a2_28) | **[12](#id80abf9396c846d9b43c8c111c3611a2_28)** |
| [8.](#id80abf9396c846d9b43c8c111c3611a2_31) | [Financial Performance](#id80abf9396c846d9b43c8c111c3611a2_31) | **[13](#id80abf9396c846d9b43c8c111c3611a2_31)** |
| [9.](#id80abf9396c846d9b43c8c111c3611a2_34) | [Liquidity and Capital Position](#id80abf9396c846d9b43c8c111c3611a2_34) | **[15](#id80abf9396c846d9b43c8c111c3611a2_34)** |
| [10.](#id80abf9396c846d9b43c8c111c3611a2_37) | [Non-GAAP Financial Measures](#id80abf9396c846d9b43c8c111c3611a2_37) | **[17](#id80abf9396c846d9b43c8c111c3611a2_37)** |
| [11.](#id80abf9396c846d9b43c8c111c3611a2_40) | [Annual and Quarterly Results](#id80abf9396c846d9b43c8c111c3611a2_40) | **[20](#id80abf9396c846d9b43c8c111c3611a2_40)** |
| [12.](#id80abf9396c846d9b43c8c111c3611a2_43) | [Related Party Transactions](#id80abf9396c846d9b43c8c111c3611a2_43) | **[21](#id80abf9396c846d9b43c8c111c3611a2_43)** |
| [13.](#id80abf9396c846d9b43c8c111c3611a2_46) | [Risks and Uncertainties](#id80abf9396c846d9b43c8c111c3611a2_46) | **[21](#id80abf9396c846d9b43c8c111c3611a2_46)** |
| [14.](#id80abf9396c846d9b43c8c111c3611a2_49) | [Material Accounting Policies, Standards and Judgements](#id80abf9396c846d9b43c8c111c3611a2_49) | **[22](#id80abf9396c846d9b43c8c111c3611a2_49)** |
| [1](#id80abf9396c846d9b43c8c111c3611a2_55)[5](#id80abf9396c846d9b43c8c111c3611a2_55)[.](#id80abf9396c846d9b43c8c111c3611a2_55) | [Subsequent Events](#id80abf9396c846d9b43c8c111c3611a2_55) | **[22](#id80abf9396c846d9b43c8c111c3611a2_55)** |
| [1](#id80abf9396c846d9b43c8c111c3611a2_52)[6](#id80abf9396c846d9b43c8c111c3611a2_52)[.](#id80abf9396c846d9b43c8c111c3611a2_52) | [Disclosure and Internal Control Procedures](#id80abf9396c846d9b43c8c111c3611a2_52) | **[22](#id80abf9396c846d9b43c8c111c3611a2_52)** |

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| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

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**1. Introduction**<br>

This Management's Discussion and Analysis ("MD&A") is intended to help the reader understand Integra Resources Corp. ("Integra", "we", "our" or the "Company"), our liquidity, capital resources, and operational and financial performance as at, and for the year ended December 31, 2025, in comparison to the corresponding prior-year periods.

This MD&A should be read in conjunction with the Company's audited consolidated financial statements and notes (the "Financial Statements"), prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board ("IFRS Accounting Standards") for the year ended ("YE") December 31, 2025. Integra's material accounting policies are set out in Note 3 of the 2025 Annual Financial Statements.

This MD&A should also be read in conjunction with the Company's Form 40-F/Annual Information Form, and other continuous disclosure materials available on our website at <u>www.Integraresources.com</u>, on SEDAR+ at <u>www.sedarplus.ca</u> and on EDGAR at <u>www.sec.gov</u>, as applicable (for avoidance of doubt, unless specifically noted, no items from these or other websites mentioned in this MD&A are incorporated by reference).

All amounts in this MD&A and the audited consolidated financial statements for the year ended December 31, 2025 are presented in United States dollars ("USD") unless identified otherwise.

The following are other abbreviations used throughout this MD&A: Au (gold), oz (ounces), gpt (grams per tonne), kt (kilotonne or thousands of tonnes), M tonnes (megatonnes or millions of tonnes), km (kilometres), and tpd (tonnes per day).

The effective date of this MD&A is March 24, 2026.

**Non-GAAP Financial Measures**

This MD&A refers to various non-GAAP measures which are used by the Company to manage and evaluate operating performance at the Company's Florida Canyon Mine and though widely reported in the mining industry as benchmarks for performance, do not have standardized meanings under IFRS Accounting Standards, and the methodology by which these measures are calculated may differ from similar measures reported by other companies. To facilitate a better understanding of these non-GAAP measures as calculated by the Company, additional information has been provided in this MD&A. Please refer to the "Non-GAAP Financial Measures" section of this MD&A for detailed descriptions and reconciliations of the following metrics to their most comparable GAAP equivalents:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Average realized gold price

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted earnings & adjusted earnings per share

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Sustaining and non-sustaining capital expenditures

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Free cash flow & free cash flow per share (basic)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Working capital

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Operating Margin

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Operating cash flow before change in working capital & operating cash flow before change in working capital per share (basic)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Operating cash flow per share (basic)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Cash costs

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Mine-site all-in sustaining costs ("Mine-site AISC")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• All-in sustaining costs ("AISC")

**2. Description of Business**<br>

Integra is a growing Canadian-based precious metals producer headquartered in Vancouver, BC and is focused on gold mining, mine development and mineral exploration activities in the Great Basin of the Western United States. The Company's principal focus includes operating its Florida Canyon mining operation ("Florida Canyon" or the "Florida Canyon Operation" or the "Florida Canyon Mine") and engaging in exploration and development of its two flagship development-stage heap leach projects: the past producing DeLamar Project ("DeLamar" or "DeLamar Project") in southwestern Idaho, and the Nevada North Project ("Nevada North" or "Nevada North Project") in western Nevada.

Integra has an ongoing initiative to increase its asset base by expanding current Mineral Resource and Reserve Estimates, acquiring, discovering and developing high value precious metal projects, and ultimately operating multiple precious metals mines in the Americas. The Company's common shares are listed on the TSX Venture Exchange (the "TSX-V") under the symbol "ITR" and on the NYSE American under the symbol "ITRG". The Company's warrants trade on the TSX-V under the symbol "ITR.WT".

INTEGRA RESOURCES CORP. 5

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| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

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**3. 2025 Highlights**<br>

The following highlights refer to adjusted earnings, free cash flow, cash costs, AISC, operating cash flow before changes in working capital, and operating margin which are described in more detail in section "10. Non-GAAP Financial Measures" of this MD&A.

**Q4 and YE 2025** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Mined 3.4M and 12.0M tonnes of ore and 2.4M and 10.6M tonnes of waste at a strip ratio of 0.71 and 0.88 at the Florida Canyon Mine for Q4 2025 and YE 2025 periods, respectively. As a result, mining rates were 37,143 and 32,914 tpd, for those respective periods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In Q4 2025, Florida Canyon produced 12,864 gold ounces and sold 12,920 gold ounces at a record average realized price of $4,229 per gold ounce. For YE 2025, Florida Canyon produced 70,927 gold ounces and sold 70,919 gold ounces at average realized price of $3,411 per gold ounce.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Quarterly revenue of $55.2 million, compared to revenue of $70.7 million in Q3 2025. YE revenue of $243.9 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Mine operating earnings of $25.3 million compared to $28.6 million in Q3 2025. Operating margin of 46% in Q4 2025 was improved from the 40% operating margin recorded in Q3 2025. YE mine operating earnings of $94.5 million at an operating margin of 39%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Q4 adjusted earnings of $14.8 million, or $0.09 per share, compared to $16.3 million, or $0.10 per share in Q3 2025. YE adjusted earnings of $47.3 million, or $0.28 per share. Adjustments were largely related to realized derivative losses on the debt conversion feature, unrealized gains associated with the bullion contracts and debt conversion feature, and deferred tax expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Q4 net loss of $5.7 million, or $0.03 loss per share was slightly improved from the net loss of $8.2 million, or $0.05 earnings per share recorded in Q3 2025. YE net loss of $2.2 million, or $0.01 loss per share. The net losses in both the quarterly and annual periods were largely the result of non-cash revaluations and conversion of the derivative debt conversion feature driven by the appreciation of the Company's share price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Cash costs averaged $2,036 per gold ounce in Q4 2025, increased from $1,876 in Q3 2025. YE cash costs of $1,937 per gold ounce were marginally above the Company's guidance range of $1,800 to $1,900 per ounce. This increase is primarily due to higher royalties and excise taxes on gold sales from higher than planned metal prices.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Mine-site AISC averaged $3,371 per gold ounce in Q4 2025, compared to $2,647 in Q3 2025. Mine-site AISC was elevated as expected due to planned payments related to new equipment purchases made during the quarter. YE 2025 Mine-site AISC of $2,693 per gold ounce exceeded the guidance range of $2,450 to $2,550 per ounce, due to elevated royalties and excise taxes from higher than planned gold prices.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Operating cash flow of $4.7 million, decreased from $35.6 million in Q3 2025 largely due to build-up of ounces in inventory which resulted from a one-time, temporary reduction in solution flow rates resulting from a liner tear in a solution pond which occurred and was repaired in the fourth quarter. Operating cash flow before changes in working capital in the quarter was $20.9 million. Operating cash flow and operating cash flow before changes in working capital for YE 2025 was $72.3 million and $71.2 million, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Free cash outflow was $12.2 million, or $0.07 per share, for the quarter. Free cash inflow was $19.8 million, or $0.12 for the full year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Ended the quarter with cash and cash equivalents of $63.1 million, a decrease from $81.2 million in Q3 2025 resulting from reduced operating cash flow following metal inventory buildups as a result of the reduced solution flow rates preceding the liner repair which was completed in Q4 2025. The Company expects to recover these deferred ounces by drawing down inventories in 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Continued advancement of the 2025 resource growth drilling program at Florida Canyon. The drilling program marks the first phase of a multi-year growth strategy designed to expand mineral reserves and resources, extend mine life, and enhance the value of Florida Canyon. The Forida Canyon technical report is on track and expected to be completed in the third quarter of 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Continued engagement with stakeholders across Nevada, Idaho, and Oregon, including local communities, civic and non-profit organizations, government officials, and Tribal nations inclusive of the Company's Relationship

INTEGRA RESOURCES CORP. 6

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| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

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Agreement with the Shoshone-Paiute Tribes of the Duck Valley Indian Reservation, establishing a transformative and long-term partnership for the development of the DeLamar Project.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Company completed its Feasibility Study Technical Report ("FS") for DeLamar Heap Leach Project with an effective date December 8, 2025. The FS for DeLamar confirmed robust economics for a low-cost, large-scale, conventional open pit oxide heap leach operation, with competitive operating costs and a high rate of return.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• At DeLamar, efforts in 2026 will focus on advancing and de-risking the project through detailed engineering, long lead equipment procurement, and permitting advancement under the National Environmental Policy Act ("NEPA"), guided by the federally regulated FAST-41 guidelines. In January 2026 the United States Bureau of Land Management ("BLM") formally established a federal permitting schedule under NEPA for DeLamar.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Appointment of Chantal Lavoie to Board of Directors subsequent to year end. Mr. Lavoie is a mining engineer and seasoned executive with more than 40 years of experience in mine development, operations, capital project execution and corporate governance across gold, base metals, diamonds and iron ore.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Appointment of Scott Guay, P.Eng., as Vice President, Project Development. Mr. Guay joins Integra from Kinross Gold Corporation, where he held senior leadership roles overseeing global mining project services and delivery of capital projects. During his more than 15-year tenure, he supported multiple complex, large-scale gold mine expansions and mine restart projects across North and South America and Africa, contributing to project planning, engineering management, procurement strategy, and execution governance for projects of significant strategic importance.

**4. Guidance and 2026 Outlook**<br>

**2025 Results**

Integra reports on annual performance with reference to its 2025 guidance.

<u>Mine Production</u>

Gold production from the Florida Canyon Mine was 70,927 ounces of gold, meeting full year production guidance of 70,000–75,000 gold ounces. The Company mined 12.0M tonnes of ore and 10.6M tonnes of waste for a total of 22.6M tonnes, with a strip ratio of 0.88. This was slightly less than the planned mining of 13.5M tonnes of ore and 11.2M tonnes of waste for a total of 24.7M tonnes, at a strip ratio of 0.83. Total tonnes were less than planned due to the dust suppression issues in Q3, as well as longer waste hauls than anticipated during the capital stripping campaign in one of its pits.

<u>Operating costs</u>

The Company's Florida Canyon Mine reported full year cash costs of $1,937 per ounce and Mine-site AISC of $2,693 per ounce, with both measures ending the year slightly above the upper range of guidance. Full year guidance was $1,800 to $1,900 per ounce for cash costs and $2,450 to $2,550 per ounce for Mine-site AISC. This increase is primarily due to higher royalties and excise taxes as a result of the increase in realized gold prices since issuing guidance in the second quarter.

INTEGRA RESOURCES CORP. 7

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| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

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**2026 Guidance**

Integra provides the following annual guidance for 2026:

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| | | |
|:---|:---|:---|
| | **Unit** <sup>(1)</sup> | **Guidance Range** |
| **Florida Canyon Mine** | | |
| &nbsp;&nbsp;2026 Gold Production | oz | 70000 - 75000 |
| &nbsp;&nbsp;2027 Gold Production | oz | 80000 - 90000 |
| &nbsp;&nbsp;2028 Gold Production | oz | 80000 - 90000 |
| &nbsp;&nbsp;2026 Total Cash Cost<sup>(2)</sup> | $/oz sold | $1900 - $2100 |
| &nbsp;&nbsp;2026 Mine-Site All-In Sustaining Costs ("AISC")<sup>(2)</sup> | $/oz sold | $2750 - $2950 |
| &nbsp;&nbsp;2026 Sustaining Capital Expenditures and Leases | $m | $62.0 - $68.0 |
| &nbsp;&nbsp;2026 Non-Sustaining (Growth) Capital Expenditures | $m | $7.5 - $9.5 |
| **Development Projects** |  |  |
| &nbsp;&nbsp;2026 DeLamar and Nevada North Project Advancement Expenses | $m | $35.0 - $40.0 |
| &nbsp;&nbsp;2026 DeLamar Pre-Production Capital Expenditures and Land Acquisitions  | $m | $38.0 - $42.0 |
| **Corporate** |  |  |
| &nbsp;&nbsp;2026 General and Administrative Expenses<sup>(3)</sup> | $m | $8.5 - $9.0 |

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(1)Unit abbreviations: oz = troy ounce, $/oz sold = U.S. dollars per gold ounce sold, $m = million of U.S. dollars

(2)Non-GAAP measure. Please refer to "10. Non-GAAP Financial Measures" section of the MD&A. Calculated using an assumed average gold price of $3,800 per ounce; a $100 per ounce change in the gold price is estimated to result in an approximately $7 change in each metric.

(3)Excludes non-cash stock-based compensation expense and depreciation expense.

**2026 Production, Cost, and Growth Outlook – Florida Canyon Mine**

Gold production from the Florida Canyon Mine is expected to be 70,000 to 75,000 ounces in 2026 with approximately 45% of the gold ounces produced in the first half of 2026 ("H1 2026"). The Company is planning to mine approximately 13.9 million tonnes of ore and 19.3 million tonnes of waste for a total of 33.2 million tonnes, resulting in a strip ratio of 1.39. The increased strip ratio in 2026 reflects continued reinvestment through additional capitalized waste stripping and a targeted pit expansion of the Central Pit, which is expected to support higher annual gold production in 2027 and 2028.

Cash costs at Florida Canyon are expected to range from $1,900 to $2,100 per ounce of gold sold, including royalties at the assumed gold price. The increase to the cash cost guidance range in 2026 versus 2025 is primarily a result of a higher gold price assumption.

Sustaining capital expenditures of approximately $62.0 million to $68.0 million, with approximately 55% allocated to H1 2026, are focused on capitalized waste stripping, mobile fleet rebuild and replacement financing, infill and development drilling and other projects.

Mine-Site AISC at Florida Canyon is expected to range from $2,750 to $2,950 per ounce of gold sold, which reflects the capital-intensive period at Florida Canyon expected in 2026, continuing from 2025. The increase to the Mine-Site AISC guidance range in 2026 versus 2025 is primarily a result of increased waste stripping, higher gold price assumptions impacting royalty costs, increased fleet rebuild financing, and increased infill and development drilling, all of which are designed to increase gold ounce production in 2027 and 2028. Infill and development drilling at Florida Canyon will consist of ~31,000 meters of reverse circulation drilling focused on near-mine targets designed to support oxide mineral reserve and resource growth.

Growth capital between $7.5 million and $9.5 million at Florida Canyon will be deployed on expansion projects and studies whose results will be included in an updated Technical Report to be released in the third quarter of 2026, and growth exploration meant to test targets outside of the active mine boundary. The Technical Report will include the results of the oxide growth drilling program from 2025 which focused on near-mine targets, including inter-pit areas and historical low grade stockpiles. Approximately $2.8 million has been allocated to support the 2026 growth exploration program, with ~8,000 meters of reverse circulation drilling and ~1,000 meters of core drilling focused on testing new targets, something which has not been done at Florida Canyon in many years.

INTEGRA RESOURCES CORP. 8

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| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

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**2026-2028 Production Outlook – Florida Canyon Mine**

Sustaining and growth investments made in 2025 and 2026 are expected to support increased annual gold production at Florida Canyon of approximately 80,000 to 90,000 ounces per year in 2027 and 2028. This improved gold production profile is driven by targeted pit expansion and continued investment in the mobile mining fleet.

Continuing from the investments made in 2025, approximately $5.0 million in additional capital stripping is planned in 2026 to expand the Central Pit, Florida Canyon's largest and most consistent mining area, providing access to additional mineralization for extraction in subsequent years.

The Company also made significant investments into its mobile fleet in 2025, with further upgrades continuing into 2026. Key investment areas include the purchase of new equipment such as an excavator, a loader, eight haul trucks and several auxiliary pieces as well as rebuilding several existing pieces of mobile equipment. This work is expected to enhance operating capacity, productivity and overall mining performance.

**2026 Development Outlook – The DeLamar Project and the Nevada North Project**

Integra remains committed to advancing its flagship development-stage heap leach projects: the past producing DeLamar Project located in southwestern Idaho and the Nevada North Project located in western Nevada. The total expected project advancement spending between the two projects in 2026 is $35.0 million to $40.0 million for detailed engineering, permitting, baseline studies, and site support.

At DeLamar, efforts in 2026 will focus on advancing and de-risking the project through detailed engineering, long lead equipment procurement, and permitting advancement under the National Environmental Policy Act ("NEPA"), guided by the federally regulated FAST-41 guidelines. In January 2026 the United States Bureau of Land Management ("BLM") formally established a federal permitting schedule under NEPA for DeLamar. The BLM-defined schedule contemplates publication of a Notice of Intent ("NOI") in the second quarter of 2026, followed by an anticipated 15-month NEPA review period, culminating in the issuance of an Environmental Impact Statement ("EIS") and Record of Decision ("ROD") in the third quarter of 2027. In addition to project advancement spending at DeLamar, a total of $38.0 million to $42.0 million has been allocated to pre-production capital and strategic land acquisition. Approximately 70% of the pre-production capital at DeLamar will be for long lead equipment procurement and early works and approximately 30% will be used for strategic land acquisition.

Nevada North consists of two mineral exploration deposits, the Wildcat Deposit ("Wildcat") and the Mountain View Deposit ("Mountain View"). At Nevada North, the Company has allocated approximately $10.0 million to $15.0 million, within the total project advancement budget, to execute several initiatives focused on project advancement and permitting. Upon receipt of a favorable decision from State and Federal regulators regarding the Project Exploration Plan of Operations, expected in early 2026, the Company anticipates the commencement of a metallurgical, geotechnical and geochemical test work program supported by ~500 meters of core drilling with a further ~5,000 meters planned for conversion drilling. Additionally, the Company is planning the commencement of a pre-feasibility study in the latter part of 2026 with an expected announcement in the first half of 2027. These initiatives support Integra's long-term strategy of de-risking and permitting its key heap leach development projects to build a leading U.S.-focused intermediate gold producer.

**5. Health, Safety and Environment**<br>

Integra experienced zero fatalities and zero lost time incidents in Q4 2025. Three MSHA-reportable injuries occurred at Florida Canyon in Q4, which brought the full-year total to seven. The 2025 total recordable incident frequency rate ("TRIFR") at Florida Canyon was 1.79.

Integra recorded six minor reportable environmental spills, incidents, or non-compliances in 2025, one of which occurred in the fourth quarter.

INTEGRA RESOURCES CORP. 9

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|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

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**6. Operating Performance**<br>

The following operating performance refers to adjusted earnings, adjusted earnings per share (basic), operating cash flow per share (basic), free cash flow, free cash flow per share (basic), cash costs, and AISC which are described in more detail in section "10. Non-GAAP Financial Measures" of this MD&A:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Three months ended <br>December 31,** | **Three months ended <br>December 31,** | **Year ended <br>December 31,** | **Year ended <br>December 31,** |
|<br>**OPERATIONAL** |<br>**Unit** | **2025** | **2024**<sup>(1)</sup> | **2025** | **2024**<sup>(1)</sup> |
| Ore mined | kt | 3418 | 1752 | 12047 | 1752 |
| Ore mined/day | tpd | 37143 | 33057 | 32914 | 33057 |
| Waste mined | kt | 2420 | 788 | 10584 | 788 |
| Strip ratio | waste/ore | 0.71 | 0.45 | 0.88 | 0.45 |
| Crushed ore to pad | kt | 1931 | 1052 | 7580 | 1052 |
| Run of mine ore to pad | kt | 2008 | 575 | 5646 | 575 |
| Total placed | kt | 3939 | 1627 | 13226 | 1627 |
| **Gold** |  |  |  |  |  |
| Average grade | gpt | 0.24 | 0.25 | 0.22 | 0.25 |
| Recovery | % | 59.2% | 61.2% | 60.1% | 61.2% |
| Produced | oz | 12864 | 10984 | 70927 | 10984 |
| Sold | oz | 12920 | 11382 | 70919 | 11382 |

---

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Three months ended <br>December 31,** | **Three months ended <br>December 31,** | **Year ended <br>December 31,** | **Year ended <br>December 31,** |
|<br>**FINANCIAL** |<br>**Unit** | **2025** | **2024**<sup>(1)</sup> | **2025** | **2024**<sup>(1)</sup> |
| Revenue | $ millions | $55.2 | $30.4 | $243.9 | $30.4 |
| Cost of sales | $ millions | $(29.9) | $(25.0) | $(149.4) | $(25.0) |
| Mine operating earnings | $ millions | $25.3 | $5.4 | $94.5 | $5.4 |
| Earnings for the period | $ millions | $(5.7) | $9.5 | $(2.2) | $(9.5) |
| Earnings per share (basic) | $/share | $(0.03) | $0.07 | $(0.01) | $(0.10) |
| Adjusted earnings for the period | $ millions | $14.8 | $2.3 | $47.3 | $(16.1) |
| Adjusted earnings per share (basic) | $ millions | $0.09 | $0.02 | $0.28 | $(0.17) |
| Operating cash flow | $ millions | $4.7 | $7.3 | $72.3 | $(10.1) |
| Operating cash flow per share (basic) | $/share | $0.03 | $0.05 | $0.43 | $(0.10) |
| Free cash flow | $ millions | $(12.2) | $5.0 | $19.8 | $(12.4) |
| Free cash flow per share (basic) | $/share | $(0.07) | $0.04 | $0.12 | $(0.13) |
| Cash costs | $/oz sold | $2036 | $1687 | $1937 | $1687 |
| Mine-site AISC | $/oz sold | $3371 | $2102 | $2693 | $2102 |
|  |  |  |  | **December 31, 2025** | **December 31, 2024** |
| Cash and cash equivalents | $ millions |  |  | $63.1 | $52.2 |

---

(1)Amounts relating to Florida Canyon Mine cover from November 8, 2024, the date of acquisition, to December 31, 2024.

**Mine**

In Q4 2025, the Company mined 3.4M tonnes of ore from its open pit operations at Florida Canyon, a 35% increase over the 2.5M tonnes mined in Q3 2025. The Company also mined 2.4M tonnes of waste in Q4 2025, resulting in a strip ratio of 0.71, down from 3.4M tonnes of waste and a strip ratio of 1.34 in Q3 2025. Waste mining rates decreased in Q4 2025 compared to Q3 2025, due to a provisional adjustment of the mine sequence in Q3 to overcome dust suppression challenges caused by a temporary water shortage in the dry summer months. The temporary water shortage in Q3 was caused by a problematic historic water well, which has since been successfully replaced.

For the full year, the Company mined a total of 12.0M tonnes of ore and 10.6M tonnes of waste, for a strip ratio of 0.88, which reflects continued waste stripping in higher pits, and increased ROM tonnes placed.

INTEGRA RESOURCES CORP. 10

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

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**Production**

In Q4 2025, the Company produced 12,864 ounces of gold, compared to 20,653 ounces in Q3 2025. Production during the quarter was derived from gold placed on the Phase IIIa leach pad, together with residual recovery from Phases I and II. The decreased production in Q4 resulted from a one-time, temporary reduction in solution flow rates resulting from a liner tear in a solution pond identified during the fourth quarter. The liner was fully repaired by mid-November with no solution releases and no environmental impact. Solution flow rates were restored to normal levels prior to year-end. Preventative measures, including an additional protective liner and improved access to the affected area for personnel and equipment, have been implemented for more effective response in the unlikely event this occurs again in the future. Importantly, gold ounces associated with the reduced solution flow during the quarter were deferred, not lost, and are expected to remain recoverable through continued leaching. Based on leach pad inventories and normalized solution flow, the Company expects the majority of ounces deferred during the fourth quarter—estimated at approximately 2,000 to 3,000 ounces—to be recovered through ongoing leaching throughout 2026.

During the quarter, Florida Canyon completed construction of the Phase IIIb heap leach pad, with regulatory approval to begin leaching expected in the first quarter of 2026. The Company also advanced its fleet revitalization program with refurbishment of legacy haul trucks and loaders, while commissioning four new machines: a Hitachi EX3600 front shovel, a Caterpillar 992HL loader, and two Caterpillar 785 haul trucks. An additional six Caterpillar 785 haul trucks are expected to be commissioned in the first half of 2026. The upgraded fleet is expected to reduce reliance on expensive rental equipment, enhance productivity, and lower mining costs per tonne over the coming years.

Despite lower fourth quarter production relative to earlier quarters, Florida Canyon delivered 70,927 ounces of gold for the full year, achieving Integra's 2025 gold production guidance. Recovery rates for the year remained consistent with expectations, and the modest fourth quarter variance reflects timing rather than any change in ore quality or metallurgical performance.

Average gold process recoveries were 59.2% in Q4 2025 and 60.1% year-to-date, slightly less than the 60.7% recovery achieved in Q3 2025. Annual recoveries were in line with expectations.

**Sustaining and Non-sustaining Capital** 

In Q4 2025, the Company invested $16.9 million in sustaining capital, bringing total spending to $52.4 million for the full year. This reflects the Company's ongoing commitment to reinvesting in the mine through new leach pad construction, increased capital stripping, and mobile equipment refurbishments.

The Company also invested $2.9 million in non-sustaining growth capital during the fourth quarter, bringing total spending to $5.5 million for the full year. This spending was primarily directed toward the growth-focused drilling program at the Florida Canyon Mine discussed further in the *Exploration* section below, as well as new equipment down payments.

These expenditures are in line with the Company's 2025 Guidance.

**Cash Costs and Mine-site AISC**

Cash costs averaged $2,036 per gold ounce in Q4 2025 and $1,937 per gold ounce for the full year. Mine-site AISC averaged $3,371 per gold ounce in Q4 2025 and $2,693 per gold ounce for YE, with both metrics elevated as expected due to planned payments related to new equipment purchases made during the quarter. The Company expects to continue commissioning additional equipment through early 2026.

The Company ended 2025 with an average AISC slightly higher than the stated guidance of $2,450 to $2,550 per ounce, mainly due to higher royalties as a result of the increase in realized gold prices since issuing guidance in the second quarter.

Royalties and excise taxes, which constitute a material component of cash costs and Mine-site AISC, are directly impacted by fluctuations in the gold price. A $100 per ounce change in the gold price results in an estimated $7 change to both cash costs and Mine-site AISC.

**Exploration**

In Q4 2025, the Company also continued its growth focused drilling program at Florida Canyon, completing approximately 3,100 meters of reverse circulation and sonic drilling. The 2025 program, originally planned for approximately 10,000 meters, was subsequently expanded to 16,000 meters due to its initial success. Drilling is focused on three key areas: (1) evaluating near-surface oxide potential from historical waste areas; (2) expanding in-situ resources between existing open pits; and (3) testing lateral extensions and conducting in-pit infill drilling. The program is specifically designed to support resource and reserve growth and extend mine life at Florida Canyon. The 2025 drill program at Florida Canyon will support a mineral resource and reserve update and a revised life-of-mine plan in mid-2026.

INTEGRA RESOURCES CORP. 11

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

---

Program expenditures totaled $1.4 million in Q4 2025 and $4.0 million for the year.

**7. Development Projects**<br>

Integra's 2025 DeLamar Project MPO, has been determined to be administratively complete, meeting the content requirements at 43 CFR 3809.401(b). The MPO will serve as the basis for BLM's environmental review of the Project under NEPA. Following the publishing of the NOI in Q2 2026, Public and Agency Scoping will identify environmental concerns (issues) associated with Project implementation. These issues will inform the development of potential alternatives. Environmental effects analysis of the Project and a reasonable range of alternatives will then proceed and an Environmental Impact Statement (EIS) will be prepared. In the EIS and accompanying record of decision, anticipated in Q3 2027, the BLM will identify a Preferred Alternative and any required mitigation measures required for Project implementation. Following the NEPA process, a final revised Project MPO will be prepared that incorporates the Preferred Alternative and any identified mitigation measures. Once all applicable Federal, State and Local permits are obtained, the Project will commence construction.

The DeLamar Project's permitting timeline posted to the FAST-41 project dashboard on January 13, 2026. The FAST-41 Transparency Project program is a federal permitting framework designed to streamline environmental reviews, improve interagency coordination, and increase transparency. Agencies must develop and maintain a coordinated, project-specific timetable for all required environmental review and permitting actions. Integra will be designated a dedicated project advisor from the Permitting Council, who will monitor the advancement of the project – maintaining active engagement and coordination across multiple regulatory agencies. The Permitting Council provides high-level oversight to ensure that Federal agencies adhere to established timetables. The DeLamar Project's permitting timeline posted to the FAST-41 project dashboard highlights an accelerated 15 month NEPA schedule from start to finish.

The Company completed its FS for DeLamar Heap Leach Project with an effective date December 8, 2025. The FS for DeLamar confirmed robust economics for a low-cost, large-scale, conventional open pit oxide heap leach operation, with competitive operating costs and a high rate of return. The FS outlines total production of 1.1 million ounces of gold equivalent ("AuEq") over a 10-year operating mine life (plus two years of residual leaching), resulting in an average annual production profile of 106,000 ounces AuEq per annum at a co-product Mine-site AISC of $1,480 per ounce ("/oz") AuEq. Initial capital cost are $389 million, including $38 million of owners' cost, and sustaining capital of $305 million over the mine life. The Project generates an after-tax net present value ("NPV5%") of approximately $774 million with an after-tax internal rate of return ("IRR") of 46% at base case gold and silver prices of $3,000/oz and $35/oz, respectively. After-tax NPV5% improves to approximately $1.9 billion and after-tax IRR to 97% using recent gold and silver prices of $4,500/oz and $65/oz, respectively.

During the quarter the Company also advanced the Nevada North Project, which consists of the Wildcat Deposit and the Mountain View Deposit. A preliminary hydrogeological study was initiated at Wildcat to develop a hydrogeological conceptual site model (HCSM) and to assess potential water management and supply issues impacting mining and reclamation planning. Four monitoring wells have been installed under an existing Notice authorization, and will provide data related to groundwater depth, flow direction and water quality. Further hydrogeological studies are planned for 2026 and will be informed by these preliminary data. The environmental analysis for the Wildcat Exploration Plan of Operations ("EPO") is complete, and decision documentation will be complete pending approval of a Memorandum of Agreement with the State Historical Preservation Office and Tribal governments. Once approved, the Wildcat EPO will provide greater flexibility for significantly expanded exploration and drilling campaigns that will initiate in 2026. The Reclamation Permit from Nevada Division of Environmental Protection ("NDEP") Bureau of Mining Regulation and Reclamation ("BMRR") is also in process and anticipated in Q2 2026.

At Mountain View, environmental analysis for the EPO is also complete. The Mountain View EPO has completed its 30-day public comment period, and a Final Environmental Assessment was published in Q4 2025. The NDEP BMRR Reclamation Permit is anticipated in Q2 2026. Once approved, the Mountain View EPO will provide greater flexibility for significantly expanded exploration and drilling campaigns in the future. Integra expects to begin work on an updated technical report for Nevada North in 2026 with a target release date in early 2027.

External Affairs activities for the quarter maintained broad stakeholder engagement, with the most frequent stakeholder categories including local residents, civic and non-profit organizations, government and elected officials, and Tribal nations, totaling over 4,250 stakeholders engaged in Nevada, Idaho, and Oregon. Specific initiatives included workforce development planning, community wood-bank support, seasonal food-bank holiday drives, industry conferences, and Tribal Relationship Agreement implementation. Targeted engagement informing mine planning and design included regenerative grazing, park & ride location, reclamation planning, visual effects, Indigenous knowledge and cultural studies.

INTEGRA RESOURCES CORP. 12

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

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**8. Financial Performance**<br>

**Net earnings**

During the three months and year ended December 31, 2025, net losses were $5.7 million and $2.2 million, respectively, compared to net earnings of $9.5 million and a net loss of $9.5 million for the same periods in 2024. The net loss in Q4 2025 and fiscal 2025 was primarily the result of the non-cash derivative loss realized on the conversion feature of the convertible debt facility.

The table below summarizes the differences in net earnings for the three months and years ended December 31, 2025, compared to the corresponding periods in 2024:

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| | | | |
|:---|:---|:---|:---|
| | **Three months** | **Year** | **Note** |
| **Net earnings (loss), period ended December 31, 2024** | $**9529** | $**(9501)** |  |
| **Revenue** | **24801** | **213576** | **1** |
| Production costs, and royalties and excise taxes | (3539) | (112143) |  |
| Depreciation | (1367) | (12260) |  |
| **Cost of sales** | $**(4906)** | $**(124403)** | **2** |
| **Mine operating earnings** | $**19895** | $**89173** |  |
| Increased derivative losses | (15514) | (38629) | **3** |
| Increased income tax expense | (2557) | (20570) | **4** |
| Increased other expense | (11820) | (15649) | **5** |
| Increased interest and finance expense | (449) | (3666) | **6** |
| Increased exploration and project expenses | (3294) | (3065) | **7** |
| Increased general and administrative expenses | (1664) | (2926) | **8** |
| Increased interest income | 234 | 1816 |  |
| Other | (38) | 774 |  |
| **Net loss, period ended December 31, 2025** | $**(5678)** | $**(2243)** |  |

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**1)Revenue**

In Q4 2025 the Company sold 12,920 ounces of gold at average realized prices of $4,229 per ounce of gold generating revenue of $55.2 million, compared to 11,382 ounces at average realized prices of $2,643 per ounce in Q4 2024, resulting in revenues of $30.1 million.

In 2025 the Company sold 70,919 ounces of gold at average realized prices of $3,411 per ounce of gold, generating revenue of $243.9 million, compared to 11,382 ounces of gold at average realized prices of $2,643 per ounce of gold in 2024, resulting in revenues of $30.1 million, representing 53 days of operation following the acquisition of Florida Canyon mine on November 8, 2024.

**2)Cost of sales**

In Q4 2025 cost of sales were $29.9 million, compared to $25.0 million in Q4 2024. This increase is primarily driven by higher ounces sold in the quarter.

Cost of sales were $149.4 million for the full year, compared to $25.0 million in the comparative period of 2024. This increase is primarily due to 2025 being the first full year of production.

**3)Derivative losses**

In Q4 2025, derivative losses were $17.0 million, compared to $1.5 million in Q4 2024. In 2025, derivative losses were $39.7 million, a $38.6 million increase from losses of $1.0 million in 2024.

In both the quarterly and year-to-date periods, this increase was driven primarily by the realized loss resulting from the Q4 2025 conversion of the convertible debt facility after strong share price appreciation during the current year (Note 9 of this MD&A).

**4)Income tax expense**

In Q4 2025, income tax expense was $3.3 million, compared to $0.7 million in Q4 2024. The higher tax expense in the current quarter is primarily attributable to a full year of operations and improved profitability.

INTEGRA RESOURCES CORP. 13

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

---

Income tax expense for the full year was $21.3 million, an increase compared to $0.7 million recorded during the comparative period of 2024. The increase in tax expense for the current year is primarily attributable to the same factors that impacted the quarterly results.

**5)Other expense**

The Company recorded other expenses of $0.6 million in Q4 2025 compared to other income of $11.3 million in Q4 2024. The decrease is primarily due to a $14.2 million bargain purchase gain recognized on the acquisition of the Florida Canyon Mine, partially offset by transaction and integration costs of $3.9 million in the comparative period.

In 2025, other expenses totaled $4.1 million, compared to other income of $11.6 million in 2024. This decrease is largely due to the same reasons as discussed above, combined with $2.2 million in transaction and integration costs and $1.0 million in non-deductible tax charges incurred in the current period.

**6)Interest and finance expense**

The Company recognized interest and finance expense of $1.7 million in Q4 2025, an increase of $0.4 million compared to the $1.2 million expenses incurred in Q4 2024. In 2025 interest and finance expenses totaled of $7.1 million, an increase of $3.7 million compared to the $3.4 million incurred in 2024.

In both the quarterly and year-to-date periods, the increases were primarily driven by increased reclamation accretion and lease interest expenses, resulting from leases and accretion reclamation obligations acquired from the Florida Canyon Mine.

**7)Exploration and project expenses**

The Company recognized exploration and project expense of $6.0 million in Q4 2025, an increase of $3.3 million compared to the $2.7 million expenses incurred in Q4 2024. 2025 saw exploration and project expenses of $17.2 million, an increase of $3.1 million compared to the $14.2 million incurred in 2024.

For both the quarterly and year-to-date periods, exploration and project expenses were primarily attributable to technical professional and consulting fees, including engineering and permitting services, incurred at the DeLamar Project and to a lesser extent the Nevada North Project to advance permitting and engineering. A lesser portion is attributable to care and maintenance activities at the Delamar Project.

**8)General and administrative ("G&A") expenses**

In Q4 2025 G&A expenses amounted to $2.3 million, an increase of $1.7 million compared to the $0.7 million recorded in Q4 2024. YE G&A expenses totaled $9.8 million, an increase of $2.9 million from the $6.9 million recorded in the comparable 2024 period. G&A excluding depreciation and share-based compensation for 2025 was $7.1 million, compared to $4.5 million in the prior year.

In both the quarterly and year-to-date periods, the increase was primarily driven by increased audit, tax and legal professional fees, and higher compensation, including non-cash share-based compensation.

**Statement of Cash Flows**

**1)Operating activities**

Cash flows provided by operations in Q4 2025 totaled $4.7 million, a decrease of $2.7 million compared to the $7.3 million generated in Q4 2024. The primary driver of this decrease is related to a $24.9 million increase in cash used for working capital, largely driven by inventory buildups plus $3.0 million of income taxes paid in Q4 2025 with no amounts in the comparative period. These outflows exceeded the increased cash flow from improved mine operating earnings that benefited from higher metal prices.

Cash flows generated by operations for the year totaled $72.3 million, a $82.3 million increase compared to $10.1 million cash utilized in the comparable 2024 period, due to 2025 being the first full year of operations since the Florida Canyon Mine acquisition.

**2)Investing activities**

In Q4 2025, $14.8 million in cash was used for investing activities, which is $34.1 million less than the cash inflow of $19.3 million recorded in Q4 2024. The primary factors behind this decline included the absence of cash gained from the Florida Canyon Acquisition, which brought in $21.7 million in Q4 2024, and a $12.4 million increase in expenditures for mineral property, plant, and equipment, as spending covered the entire quarter in the current period rather than just 53 days as it did in Q4 2024.

INTEGRA RESOURCES CORP. 14

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

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Cash used in investing activities for the year totaled $46.2 million, marking a reduction of $74.2 million relative to the $28.0 million generated in the corresponding period of 2024. This change was mainly attributable to a $43.8 million rise in expenditures for mineral properties, plant and equipment, which reflected a full year of operations. Additionally, $21.7 million in cash was obtained through the acquisition of Florida Canyon, and $9.8 million in proceeds were realized from selling net smelter royalties to Wheaton.

**3)Financing activities**

During the fourth quarter of 2025, financing activities resulted in a cash outflow of $8.0 million, whereas the same period in 2024 saw cash inflows totaling $16.4 million. This is mainly attributed to a $13.9 million variance in share proceeds that largely resulted from an equity financing completed at the time of the Florida Canyon Acquisition, as well as $5.0 million drawn from the convertible debt facility, both occurring in Q4 2024. Furthermore, the current quarter experienced lease payments that were $3.3 million higher, primarily due to new lease agreements initiated in 2025, along with a $2.9 million increase in interest payments made in connection with the conversion of the convertible debt facility.

Cash used in financing activities for the year amounted to $15.7 million, contrasting with $25.5 million generated in 2024. This fluctuation is largely due from a $23.4 million difference in share proceeds, which can be traced back to equity financings completed during 2024, alongside a $5.0 million advance from the convertible debt facility. Additionally, in 2025, lease payments increased by $9.6 million due to the initiation of new lease contracts and a full year of operational lease expenses. And, interest accrued on the convertible debt facility in 2024 began to be settled in 2025, resulting in a $4.1 million rise in interest payments throughout the year.

**9. Liquidity and Capital Position**<br>

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| | | | |
|:---|:---|:---|:---|
| **Liquidity and Capital Measures** | **Dec 31,<br>2025** | **Dec 31,<br>2024** | **Change** |
| Cash and cash equivalents | $63086 | $52190 | $10896 |
| Working capital <sup>(1)</sup> | $92907 | $64403 | $28504 |

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(1)Working capital, calculated as current assets less current liabilities, is a non-GAAP measure. Please refer to "10. Non-GAAP Financial Measures" section of the MD&A.

**Liquidity and Capital Resources**

On December 22, 2025, Beedie Investment Ltd. converted the outstanding principal of $15 million under its secured convertible debt facility (the "Convertible Facility") into 12,295,081 common shares at a conversion price of $1.22 per share. Consequently, the Company derecognized the Convertible Facility, including the derivative liability recorded separately for the conversion feature. Before this conversion took place, the Convertible Facility was set to mature on July 31, 2027 and permitted conversion into common shares at $1.22 per share at the Lender's discretion any time before maturity.

For the year ended December 31, 2025, the Company's working capital rose by $28.5 million. This improvement was largely attributable to a $14.1 million reduction in debt and a $2.6 million decrease in derivative liabilities as a result of the Convertible Facility conversion, along with a $10.9 million increase in cash generated by robust operational performance.

To ensure alignment with its capital needs, the Company develops annual budgets. These budgets are regularly reviewed and incorporate estimated production, exploration efforts, financing availability, and industry conditions.

INTEGRA RESOURCES CORP. 15

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

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**Commitments and contractual obligations**

In the normal course of business, the Company enters into contracts that give rise to commitments which are described in Note 8(e)(ii) of the 2025 Annual Financial Statements. The following table summarizes the remaining contractual maturities of the Company's financial liabilities and operating and capital commitments on an undiscounted basis:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Payments due by period 2025** | **Payments due by period 2025** | **Payments due by period 2025** | **Payments due by period 2025** | **Payments due by period 2025** |
| | **Less than<br>1 year** | **Between<br>1 - 3 years** | **Between<br>4 - 5 years** | **After 5 years** | **Total** |
| Accounts payable and accrued liabilities | $24073 | $- | $- | $- | $24073 |
| Tax liabilities | 3813 | - | - | - | 3813 |
| Lease liabilities | 12826 | 20511 | 6519 | - | 39856 |
| Reclamation and closure provision<sup>(1)</sup> | 1344 | 14554 | 2488 | 78589 | 96975 |
|  | $42056 | $35065 | $9007 | $78589 | $164717 |

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(1)Represents undiscounted uninflated future payments for the expected Florida Canyon's cost of mine reclamation and closure, and DeLamar's water treatment costs.

**Outstanding Share and Option Amounts**

As at December 31, 2025, the Company had approximately 3.2 million stock options outstanding (each exercisable for one common share of the Company), with exercise prices in the range of $0.76 to $8.59 and a weighted average life of 3.26 years. Approximately 1.4 million of the stock options were vested and exercisable at December 31, 2025, with an average weighted exercise price of $1.90 per share.

The following table sets out the common shares and options outstanding as at the date of this MD&A:

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| | |
|:---|:---|
| | **Outstanding as at March 24, 2026** |
| Common Shares | 202158810 |
| Options<sup>(1)</sup> | 2931933 |
| Restricted Share Units | 1263096 |
| Deferred Share Units | 888533 |
| Warrants | 6262201 |
|  | 213504573 |

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(1)2,918,944 options are exercisable for one share and 278,298 options are exercisable for 0.0467 shares of the Company, respectively.

INTEGRA RESOURCES CORP. 16

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

---

**10. Non-GAAP Financial Measures**<br>

Management believes that the following non-GAAP financial measures will enable certain investors to better evaluate the Company's performance, liquidity, and ability to generate cash flow. These measures do not have any standardized definition under IFRS Accounting Standards, and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. Other companies may calculate these measures differently. Annual and quarterly results in 2024 reflect financial and operational results after the Florida Canyon acquisition completed on November 8, 2024.

**Average realized gold price** 

Average realized gold price per ounce is calculated by dividing the Company's gross revenue from gold sales for the relevant period by the gold ounces sold, respectively. The Company believes the measure is useful in understanding the gold prices realized by the Company throughout the period. The following table reconciles revenue and gold sold during the period with average realized prices:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended <br>December 31,** | **Three months ended <br>December 31,** | **Year ended <br>December 31,** | **Year ended <br>December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| Gold revenue | $54637 | $30080 | $241886 | $30080 |
| Gold ounces sold during the period | 12920 | 11382 | 70919 | 11382 |
| **Average realized gold price (per oz sold)** | $**4229** | $**2643** | $**3411** | $**2643** |

---

**Capital expenditures**

Capital expenditures are classified into sustaining capital expenditures or non-sustaining capital expenditures depending on the nature of the expenditure. Sustaining capital expenditures are those required to support current production levels. Non-sustaining capital expenditures represent the capital spending at new projects and major, discrete projects at existing operations intended to increase production or extend mine life. Management believes this to be a useful indicator of the purpose of capital expenditures and this distinction is an input into the calculation of AISC.

The following table reconciles payments at the Company's Florida Canyon mine for mineral properties, plant and equipment, and equipment leases to sustaining and non-sustaining capital expenditures:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended <br>December 31,** | **Three months ended <br>December 31,** | **Year ended <br>December 31,** | **Year ended <br>December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| Payments for mineral properties, plant and equipment | $14569 | $2301 | $46455 | $2301 |
| Payments for equipment leases | 5238 | 2238 | 11506 | 2238 |
| Total capital expenditures | 19807 | 4539 | 57961 | 4539 |
| **Less: Non-sustaining capital expenditures** | **(2943)** | **—** | **(5516)** | **—** |
| **Sustaining capital expenditures** | $**16864** | $**4539** | $**52445** | $**4539** |

---

**Free cash flow**

Free cash flow, a non-GAAP financial metric, subtracts sustaining capital expenditures from net cash provided by operating activities, serving as a valuable indicator of our capacity to generate cash from operations post-sustaining capital investments. The following table reconciles this non-GAAP financial measure to the most directly comparable IFRS Accounting Standard measure:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended <br>December 31,** | **Three months ended <br>December 31,** | **Year ended <br>December 31,** | **Year ended <br>December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| Operating cash flow | $4660 | $7317 | $72254 | $(10094) |
| Less: sustaining capital expenditures | (16864) | (2301) | (52445) | (2301) |
| **Free cash flow** | $**(12204)** | $**5016** | $**19809** | $**(12395)** |
| **Free cash flow per share (basic)** | $**(0.07)** | $**0.04** | $**0.12** | $**(0.13)** |
| **Weighted average shares outstanding (basic)** | **170654** | **135490** | **169329** | **96471** |

---

INTEGRA RESOURCES CORP. 17

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---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

---

**Working capital**

Working capital is calculated as current assets less current liabilities. The Company uses this measure to assess its operational efficiency and short-term financial position.

**Operating margin**

Operating margin is calculated as mine operating earnings divided by revenue. The Company uses Operating Margin as a measure of the Company's profitability. The following table reconciles this non-GAAP financial measure to the most directly comparable IFRS Accounting Standard measure:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended <br>December 31,** | **Three months ended <br>December 31,** | **Year ended <br>December 31,** | **Year ended <br>December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| **Revenue** | $**55151** | $30350 | $**243926** | $30350 |
| **Mine operating earnings** | **25269** | 5374 | **94547** | 5374 |
| **Operating margin** | **46%** | 18% | **39%** | 18% |

---

**Operating cash flow before change in working capital**

The Company uses operating cash flow before change in working capital to determine the Company's ability to generate cash flow from operations, and it is calculated by adding back the change in working capital to operating cash flow as reported in the consolidated statements of cash flows.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended <br>December 31,** | **Three months ended <br>December 31,** | **Year ended <br>December 31,** | **Year ended <br>December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| Operating cash flow | $4660 | $7317 | $72254 | $(10094) |
| Change in working capital | 16217 | (8720) | (1041) | (7387) |
| **Operating cash flow before change in working capital** | $**20877** | $**(1403)** | $**71213** | $**(17481)** |
| **Operating cash flow per share (basic)** | $**0.03** | $**0.05** | $**0.43** | $**(0.10)** |
| **Operating cash flow before change in working capital per share (basic)** | $**0.12** | $**(0.01)** | $**0.42** | $**(0.18)** |
| **Weighted average shares outstanding (basic)** | **170654** | **135490** | **169329** | **96471** |

---

INTEGRA RESOURCES CORP. 18

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---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

---

**Cash costs and AISC**

Cash costs are a non-GAAP financial metric which includes production costs, and royalties and excise taxes. Management uses this measure to monitor the performance of its mining operation and ability to generate positive cash flow on a site basis.

All-in sustaining costs, a non-GAAP financial measure, starts with cash costs and includes general and administrative costs, reclamation accretion expense and sustaining capital expenditures. Management uses this measure to monitor the performance of its mining operation and ability to generate positive cash flow on an overall company basis.

Cash costs and AISC are calculated as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended <br>December 31,** | **Three months ended <br>December 31,** | **Year ended <br>December 31,** | **Year ended <br>December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| Production costs | $23289 | $21411 | $119520 | $21411 |
| Royalties and excise taxes | 3367 | 1706 | 15740 | 1706 |
| Fair value adjustment to production costs on sale of acquired inventories <sup>(1)</sup> | 163 | (3646) | 4133 | (3646) |
| Less: Silver revenue | (514) | (271) | (2040) | (271) |
| **Total cash costs** | **26305** | **19200** | **137353** | **19200** |
| Reclamation accretion expense | 384 | 191 | 1212 | 191 |
| Sustaining capital expenditures<sup>(2)</sup> | 16864 | 4539 | 52445 | 4539 |
| **Mine-site AISC** | $**43553** | $**23930** | $**191010** | $**23930** |
| General and administrative expenses | 1661 |  | 7090 |  |
| Share-based compensation | 499 |  | 1970 |  |
| **Total AISC** | $**45713** | $**23930** | $**200070** | $**23930** |
| Gold ounces sold (oz) | 12920 | 11382 | 70919 | 11382 |
| **Cash costs (per Au sold)** | $**2036** | $**1687** | $**1937** | $**1687** |
| **Mine-site AISC (per Au sold)** | $**3371** | $**2102** | $**2693** | $**2102** |
| **AISC (per Au sold)** | $**3538** | $**2102** | $**2821** | $**2102** |

---

(1)This amount reflects a non-cash adjustment to production costs from the sale of inventory that was recorded at fair value as part of the Florida Canyon Mine acquisition.

(2)Recast 2024 amounts to include $2.2 million in leases payments previously included in the calculation of cash costs.

INTEGRA RESOURCES CORP. 19

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

---

**Adjusted earnings**

Adjusted earnings and adjusted basic earnings per share (collectively, "Adjusted Earnings") are presented to remove items that are unrelated to ongoing operations. These metrics do not have a standardized definition under IFRS Accounting Standards and should not be considered as a substitute for results prepared in accordance with IFRS Accounting Standards. Other companies may calculate Adjusted Earnings differently. Adjusted Earnings excludes the tax-effected impact of transaction and integration costs, unrealized gains and losses on foreign currency derivative contracts, gains or losses from the disposal of mineral properties, plant and equipment, and deferred taxes.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three months ended <br>December 31,** | **Three months ended <br>December 31,** | **Twelve months ended December 31,** | **Twelve months ended December 31,** |
| | **2025** | **2024** | **2025** | **2024** |
| Net (loss) earnings | $(5678) | $9543 | $(2243) | $(9501) |
| Increase (decrease) due to: |  |  |  |  |
| Transaction and integration costs | 53 | 2780 | 2198 | 3862 |
| Fair value adjustment to production costs on sale of acquired inventories <sup>(1)</sup> | (163) | 3646 | (4133) | 3646 |
| Gain on bargain purchase of Florida Canyon Gold Inc. |  | (14181) |  | (14181) |
| Unrealized (gains) losses on derivatives | (21568) | 1461 | 326 | 1044 |
| Realized loss on debt facility conversion | 38361 |  | 38361 |  |
| Mineral properties, plant and equipment losses | (27) |  | 239 | (109) |
| Current tax effect from adjusting items | (7) |  | 65 |  |
| Deferred tax expense (recovery) | 3804 | (910) | 12506 | (910) |
| **Adjusted earnings (loss)** | $**14775** | $**2339** | $**47319** | **(16149)** |
| Weighted average shares outstanding (in 000's) Basic | 170654 | 135490 | 169329 | 96471 |
| **Adjusted basic earnings (loss) per share** | $**0.09** | $**0.02** | $**0.28** | $**(0.17)** |

---

(1)This non-cash adjustment to production costs for the years ended December 31, 2025, results from the fair value adjustment to inventories recognized upon the acquisition of the Florida Canyon Mine.

**11. Annual and Quarterly Results**<br>

The following table sets out selected annual financial results for the three most recently completed financial years of the Company:

---

| | | | |
|:---|:---|:---|:---|
| | **2025** | **2024** | **2023** |
| Revenue | $243926 | $30350 | $- |
| Loss for the period | $(2243) | $(9501) | $(22764) |
| Loss per common share - basic | $(0.01) | $(0.10) | $(0.16) |
| Loss per common share - diluted | $(0.01) | $(0.10) | $(0.16) |
| Adjusted earnings (loss)<sup>(2)</sup> | $47319 | $(16149) | $(22764) |
| Adjusted earnings (loss) per share<sup>(2)</sup> | $0.28 | $(0.17) | $(0.16) |
| Total assets | $311224 | $237084 | $368977 |
| Non-current financial liabilities<sup>(1)</sup> | $63981 | $52912 | $90144 |

---

(1)Non-current financial liabilities are comprised of non-current liabilities excluding deferred tax liabilities.

(2)Further information on these non-GAAP financial measures, including detailed reconciliations, is included in Section 10 of this MD&A.

INTEGRA RESOURCES CORP. 20

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

---

The following table sets out selected quarterly results over a period encompassing the most recently completed eight quarters. The most significant factors affecting results in the quarters presented were the Company's acquisition of the Florida Canyon Mine in Q4 2024.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| | **Q4 2025** | **Q3 2025** | **Q2 2025** | **Q1 2025** |
| Revenue | $**55151** | $70678 | $61072 | $57025 |
| Mine operating earnings | $**25269** | $28584 | $25210 | $15484 |
| (Loss) earnings for the period | $**(5678)** | $(8190) | $10642 | $983 |
| (Loss) earnings per common share - basic | $**(0.03)** | $(0.05) | $0.06 | $0.01 |
| (Loss) earnings per common share - diluted | $**(0.03)** | $(0.05) | $0.06 | $0.01 |
| Adjusted earnings<sup>(1)</sup> | $**14775** | $16266 | $11772 | $4434 |
| Adjusted earnings per share<sup>(1)</sup> | $**0.09** | $0.10 | $0.07 | $0.03 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| | **Q4 2024** | **Q3 2024** | **Q2 2024** | **Q1 2024** |
| Revenue | $30350 | $- | $- | $- |
| Mine operating earnings | $5374 | $- | $- | $- |
| Earnings (loss) for the period | $9530 | $(6761) | $(6776) | $(5495) |
| Earnings (loss) per common share - basic | $0.13 | $(0.08) | $(0.07) | $(0.08) |
| Earnings (loss) per common share - diluted | $0.13 | $(0.08) | $(0.07) | $(0.08) |
| Adjusted earnings (loss)<sup>(1)</sup> | $2339 | $(6857) | $(6662) | $(6039) |
| Adjusted earnings (loss) per share<sup>(1)</sup> | $0.02 | $(0.08) | $(0.08) | $(0.08) |

---

(1)Further information on these non-GAAP financial measures, including detailed reconciliations, is included in Section 10 of this MD&A.

**12. Related Party Transactions**<br>

The Company's related parties include its subsidiaries, and key management personnel. Transactions with the Company's subsidiaries have been eliminated upon consolidation.

**Compensation of key management personnel**

Key management personnel compensation is summarized as follows:

---

| | | |
|:---|:---|:---|
| | **2025** | **2024** |
| Short-term employee benefits<sup>(1)</sup> | $**1964** | $1447 |
| Share-based compensation<sup>(2)</sup> | **1022** | 853 |
|  | $**2986** | $2300 |

---

(1)Includes annual salaries and short-term incentives.

(2)Includes annual stock option grants, DSUs, and RSUs.

During the year, the Company incurred $0.1 million in expenses with companies that shared a common director (2024 - $nil).

As at December 31, 2025, $0.7 million (2024 - $0.1 million) was due to related parties for payroll expenses, consulting fees, bonus accruals and other expenses.

**13. Risks and Uncertainties**<br>

The Company is subject to a number of risks and uncertainties due to the nature of its business. The Company's exploration activities expose it to various financial and operational risks that could have a significant impact on its level of operating cash flows in the future.

Readers are advised to study and consider risk factors disclosed in the Company's Annual Information Form for the fiscal year ended December 31, 2025, dated March 24, 2026 and available under the Company's issuer profile on SEDAR+ at <u>www.sedarplus.ca</u>.

INTEGRA RESOURCES CORP. 21

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

---

**14. Material Accounting Policies, Standards and Judgements**<br>

The preparation of consolidated financial statements in accordance with IFRS Accounting Standards requires management to make judgments, estimates, and assumptions that affect the reported amounts in the consolidated financial statements. These accounting estimates represent management estimates and judgments that are uncertain, and any changes in these could materially impact the Company's financial statements. Management continuously reviews its estimates, judgments and assumptions using the most current information available. The significant judgments and estimates in the application of accounting policies are described in Note 5 of the 2025 Annual Financial Statements.

Readers should also refer to Note 3 of the 2025 Annual Financial Statements, for the Company's summary of material accounting policies.

**Accounting Standards Issued but Not Yet Applied**

*Presentation and Disclosure in Financial Statements (IFRS 18)*

IFRS 18 has been issued to achieve comparability of the financial performance of similar entities. The standard, which replaces IAS 1, impacts the presentation of primary financial statements and notes, mainly the income statement where companies will be required to present separate categories of income and expense for operating, investing, and financing activities with prescribed subtotals for each new category. IFRS 18 will require management-defined performance measures to be explained and included in a separate note within the consolidated financial statement. The standard is effective for financial statements beginning on January 1, 2027, including interim financial statements and requires retrospective application. The Company is currently assessing the impact of this amendment.

*Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7)*

IFRS 9 and 7 have been amended to provide additional guidance regarding the recognition of a financial liability settled through electronic transfer, and for the classification of certain financial assets. Further, the amendments introduce new disclosure requirements related to investments in equity instruments designated at FVOCI. The amendments are effective for financial statements beginning on January 1, 2026. The implementation of this amendment is not expected to have a material impact on the Company.

There are no other standards or amendments or interpretations to existing standards issued but not yet effective that are expected to have a material impact on the Company.

**15. Subsequent Events**<br>

**Financing**

On February 9, 2026, the Company completed a bought deal public offering of 18,121,600 common shares of the Company (the "Common Shares") at a price of US$3.40 per Common Share for aggregate gross proceeds of $61.6 million. The Company intends to use the net proceeds to fund pre-production capital expenditures at the DeLamar Project, including procurement work, early works and land purchase.

**Ranch Acquisition**

On February 17, 2026, the Company completed the acquisition of a strategically located 6,600-acre ranch contiguous with DeLamar for a purchase price of $12.5 million. The Ranch Acquisition supports the Company's strategy for de-risked and efficient Project advancement by consolidating land ownership surrounding key infrastructure at DeLamar, while concurrently securing significant permitting, environmental, operational, and community-alignment benefits.

**16. Disclosure and Internal Control Procedures**<br>

Management is responsible for establishing and maintaining effective internal control over financial reporting and disclosure controls and procedures. The Company's internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of the Company's financial reporting for external purposes in accordance with IFRS Accounting Standards.

INTEGRA RESOURCES CORP. 22

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | **Management Discussion and Analysis** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![integra_resourcesxlogo.jpg](integra_resourcesxlogo.jpg) | For the years ended December 31, 2025 and 2024<br>(All amounts are in USD with tabular<br> amounts in thousands of USD) |

---

The Company's internal control over financial reporting includes the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Ensuring maintenance of records that accurately and fairly reflect the Company's transactions and dispositions of the assets of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Providing reasonable assurance that transactions are appropriately recorded to facilitate the preparation of consolidated financial statements in accordance with IFRS Accounting Standards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Ensuring that receipts and expenditures are made in accordance with authorizations of management and the Board of Directors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Providing reasonable assurance that any unauthorized acquisition, use, or disposition of Company assets, which could have a material impact the Company's consolidated financial statements, is either prevented or promptly detected.

Disclosure controls and procedures are designed to provide reasonable assurance that other financial information disclosed publicly fairly presents in all material respects the financial condition, results of operations and cash flows of the Company for the periods presented in this MD&A and Integra's Annual Financial Statements. The Company's disclosure controls and procedures include processes designed to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to management by others within those entities to allow timely decisions regarding required disclosure.

Together, the internal control over financial reporting and disclosure controls and procedures frameworks provide internal control over financial reporting and disclosure. Due to its inherent limitations, internal control over financial reporting and disclosure may not prevent or detect all misstatements. Further, the effectiveness of internal control is subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with policies or procedures may change. The design of any system of controls and procedures is based in part upon certain assumptions about the likelihood of future events. Therefore, even those systems determined effective can provide only reasonable, not absolute, assurance that the objectives of the control system are met.

There were no changes in the Company's internal control over financial reporting and disclosure controls and procedures during the year ended December 31, 2025 that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.

The Company's management, at the direction of the CEO and CFO, assessed the effectiveness of the Company's internal control over financial reporting and disclosure controls and procedures as of December 31, 2025. Based on that evaluation, management concluded that the Company's internal control over financial reporting and disclosure controls and procedures was effective as at December 31, 2025. The effectiveness of the Company's internal control over financial reporting was based on the criteria established in Internal Control – Integrated Framework (2013) as issued by the Committee of Sponsoring Organizations of the Treadway Commission.

INTEGRA RESOURCES CORP. 23

## Exhibit 99.9

---

| | | |
|:---|:---|:---|
| ![image_0xjpg.jpg](image_0xjpg.jpg) | Tel: (604) 688-5421<br>Fax: (604) 688-5132<br>**www.bdo.ca** | BDO Canada LLP<br>Royal Centre, 1055 West Georgia Street <br>Unit 1100, P.O. Box 11101<br>Vancouver, British Columbia<br>V6E 3P3 |

---

**<u>Consent of Independent Registered Public Accounting Firm</u>**

We consent to the use of our reports dated March 24, 2026 related to the consolidated statement of financial position of Integra Resources Corp. and its subsidiaries (the "Company") as at December 31, 2025 and the related consolidated statements of loss and comprehensive loss, changes in equity, and cash flows for the year then ended and the effectiveness of the Company's internal control over financial reporting as of December 31, 2025, which are included in the Annual Report on Form 40-F of the Company for the fiscal year ended December 31, 2025.

We also consent to the incorporation by reference in the Registration Statements on Form S-8 (No. 333-242495 and 333-267507) of the Company of our reports dated March 24, 2026, relating to the consolidated financial statements, and the effectiveness of the Company's internal control over financial reporting, which appear in this Annual Report on Form 40-F.

![bdosignature.jpg](bdosignature.jpg)

BDO Canada LLP

Vancouver, British Columbia

March 24, 2026

BDO Canada LLP, a Canadian limited liability partnership, is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms.

## Exhibit 99.10

![mnplogo.jpg](mnplogo.jpg)

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We consent the use of our auditor's report dated March 26, 2025 with respect to the consolidated financial statements of Integra Resources Corp. and its subsidiaries (together, the "Company") as at December 31, 2024 and for the year ended December 31, 2024 included in the Company's Annual Report on Form 40-F being filed with the United States Securities and Exchange Commission.

We also consent to the incorporation by reference of such report in the Company's Registration Statements Nos. 333-242495 and 333-267507 on Form S-8.

/s/ MNP LLP

Chartered Professional Accountants

March 24, 2026

Vancouver, Canada

---

| | |
|:---|:---|
| **MNP LLP** | |
| Suite 2400 - 609 Granville Street, PO Box 10203 LCD Pacific Centre, Vancouver B.C., V7Y 1E7 | 1.877.688.8408 T: 604 685 8408 F: 604 685 8594 MNP.ca |

---

![praxitylogo.jpg](praxitylogo.jpg)

## Exhibit 99.11

**CONSENT OF JAMES FROST**

March 24, 2026

**VIA EDGAR**

United States Securities and Exchange Commission

---

| | |
|:---|:---|
| **Re:** | **Integra Resources Corp. (the "Company")** |
| | **Annual Report on Form 40-F of the Company for the year ended December 31, 2025 (the "Form 40-F")** |

---

I, James Frost, in connection with the Annual Information Form of the Company for the fiscal year ended December 31, 2025 (the "AIF"), and the Company's Management's Discussion & Analysis for the year ended December 31, 2025 (the "Annual MD&A"), which included references to my name and to scientific and technical information related to properties and projects of the Company, hereby consent to the reference of my name in the AIF and the Annual MD&A and the inclusion of my name and the use of scientific and technical information attributed to me in the Form 40-F, and any amendments thereto.

I also hereby consent to the use of information attributed to me in the AIF and the Annual MD&A being included in or incorporated by reference into the registration statements on Form S-8 (File Nos. 333-242495 and 333-267507). This consent extends to any amendments to the Form S-8, including post-effective amendments, and any new Form S-8 registration statements filed by the Company incorporating by reference the Form 40-F.

---

| |
|:---|
| */s/ James Frost* |
| Name: James Frost, P.Eng.<br>Title: Director, Technical Services |

---

## Exhibit 99.12

**CONSENT OF TODD HARVEY**

March 24, 2026

**VIA EDGAR**

United States Securities and Exchange Commission

---

| | |
|:---|:---|
| **Re:** | **Integra Resources Corp. (the "Company")** |
| | **Annual Report on Form 40-F of the Company for the year ended December 31, 2025 (the "Form 40-F")** |

---

I, Todd Harvey, in connection with the Annual Information Form of the Company for the fiscal year ended December 31, 2025 (the "AIF"), which included references to my name and to the technical report entitled "NI 43-101 Technical Report, Florida Canyon Gold Mine, Pershing County, Nevada, USA" dated July 11, 2024, with an effective date of June 28, 2024, hereby consent to (i) the reference of my name in the AIF, (ii) the inclusion of my name and the use of scientific and technical information attributed to me in the Form 40-F, and any amendments thereto, and (iii) the use of information derived from the technical report in the AIF and the Form 40-F, and any amendments thereto.

I also hereby consent to the use of information attributed to me in the AIF being included in or incorporated by reference into the registration statements on Form S-8 (File Nos. 333-242495 and 333-267507). This consent extends to any amendments to the Form S-8, including post-effective amendments, and any new Form S-8 registration statements filed by the Company incorporating by reference the Form 40-F.

---

| |
|:---|
| */s/ Todd Harvey* |
| Name: Todd Harvey, PhD, P.E. |

---

## Exhibit 99.13

**CONSENT OF TERRE LANE**

March 24, 2026

**VIA EDGAR**

United States Securities and Exchange Commission

---

| | |
|:---|:---|
| **Re:** | **Integra Resources Corp. (the "Company")** |
| | **Annual Report on Form 40-F of the Company for the year ended December 31, 2025 (the "Form 40-F")** |

---

I, Terre Lane, in connection with the Annual Information Form of the Company for the fiscal year ended December 31, 2025 (the "AIF"), which included references to my name and to the technical report entitled "NI 43-101 Technical Report, Florida Canyon Gold Mine, Pershing County, Nevada, USA" dated July 11, 2024, with an effective date of June 28, 2024, hereby consent to (i) the reference of my name in the AIF, (ii) the inclusion of my name and the use of scientific and technical information attributed to me in the Form 40-F, and any amendments thereto, and (iii) the use of information derived from the technical report in the AIF and the Form 40-F, and any amendments thereto.

I also hereby consent to the use of information attributed to me in the AIF being included in or incorporated by reference into the registration statements on Form S-8 (File Nos. 333-242495 and 333-267507). This consent extends to any amendments to the Form S-8, including post-effective amendments, and any new Form S-8 registration statements filed by the Company incorporating by reference the Form 40-F.

---

| |
|:---|
| */s/ Terre Lane* |
| Name: Terre Lane, MMSA |

---

## Exhibit 99.14

**CONSENT OF HAMID SAMARI**

March 24, 2026

**VIA EDGAR**

United States Securities and Exchange Commission

---

| | |
|:---|:---|
| **Re:** | **Integra Resources Corp. (the "Company")** |
| | **Annual Report on Form 40-F of the Company for the year ended December 31, 2025 (the "Form 40-F")** |

---

I, Hamid Samari, in connection with the Annual Information Form of the Company for the fiscal year ended December 31, 2025 (the "AIF"), which included references to my name and to the technical report entitled "NI 43-101 Technical Report, Florida Canyon Gold Mine, Pershing County, Nevada, USA" dated July 11, 2024, with an effective date of June 28, 2024, hereby consent to (i) the reference of my name in the AIF, (ii) the inclusion of my name and the use of scientific and technical information attributed to me in the Form 40-F, and any amendments thereto, and (iii) the use of information derived from the technical report in the AIF and the Form 40-F, and any amendments thereto.

I also hereby consent to the use of information attributed to me in the AIF being included in or incorporated by reference into the registration statements on Form S-8 (File Nos. 333-242495 and 333-267507). This consent extends to any amendments to the Form S-8, including post-effective amendments, and any new Form S-8 registration statements filed by the Company incorporating by reference the Form 40-F.

---

| |
|:---|
| */s/ Hamid Samari* |
| Name: Hamid Samari, PhD, MMSA |

---

## Exhibit 99.15

**CONSENT OF LARRY BRECKENRIDGE**

March 24, 2026

**VIA EDGAR**

United States Securities and Exchange Commission

---

| | |
|:---|:---|
| **Re:** | **Integra Resources Corp. (the "Company")** |
| | **Annual Report on Form 40-F of the Company for the year ended December 31, 2025 (the "Form 40-F")** |

---

I, Larry Breckenridge, in connection with the Annual Information Form of the Company for the fiscal year ended December 31, 2025 (the "AIF"), which included references to my name and to the technical report entitled "NI 43-101 Technical Report, Florida Canyon Gold Mine, Pershing County, Nevada, USA" dated July 11, 2024, with an effective date of June 28, 2024, hereby consent to (i) the reference of my name in the AIF, (ii) the inclusion of my name and the use of scientific and technical information attributed to me in the Form 40-F, and any amendments thereto, and (iii) the use of information derived from the technical report in the AIF and the Form 40-F, and any amendments thereto.

I also hereby consent to the use of information attributed to me in the AIF being included in or incorporated by reference into the registration statements on Form S-8 (File Nos. 333-242495 and 333-267507). This consent extends to any amendments to the Form S-8, including post-effective amendments, and any new Form S-8 registration statements filed by the Company incorporating by reference the Form 40-F.

---

| |
|:---|
| */s/ Larry Breckenridge* |
| Name: Larry Breckenridge, P.E. |

---

## Exhibit 99.16

**CONSENT OF GLOBAL RESOURCE ENGINEERING LTD.**

March 24, 2026

**VIA EDGAR**

United States Securities and Exchange Commission

---

| | |
|:---|:---|
| **Re:** | **Integra Resources Corp. (the "Company")** |
| | **Annual Report on Form 40-F of the Company for the year ended December 31, 2025 (the "Form 40-F")** |

---

Global Resource Engineering Ltd., in connection with the Annual Information Form of the Company for the fiscal year ended December 31, 2025 (the "AIF"), which included references to our name and to the technical report entitled "NI 43-101 Technical Report, Florida Canyon Gold Mine, Pershing County, Nevada, USA" dated July 11, 2024, with an effective date of June 28, 2024, hereby consent to (i) the reference of our name in the AIF, (ii) the inclusion of our name and the use of scientific and technical information attributed to us in the Form 40-F, and any amendments thereto, and (iii) the use of information derived from the technical report in the AIF and the Form 40-F, and any amendments thereto.

I also hereby consent to the use of information attributed to us in the AIF being included in or incorporated by reference into the registration statements on Form S-8 (File Nos. 333-242495 and 333-267507). This consent extends to any amendments to the Form S-8, including post-effective amendments, and any new Form S-8 registration statements filed by the Company incorporating by reference the Form 40-F.

---

| |
|:---|
| */s/ Todd J Harvey* |
| Name: Todd J Harvey<br>Title: President |

---

## Exhibit 99.17

**CONSENT OF BARRY CARLSON**

March 24, 2026

**VIA EDGAR**

United States Securities and Exchange Commission

---

| | |
|:---|:---|
| **Re:** | **Integra Resources Corp. (the "Company")** |
| | **Annual Report on Form 40-F of the Company for the year ended December 31, 2025 (the "Form 40-F")** |

---

I, Barry Carlson, in connection with the Annual Information Form of the Company for the fiscal year ended December 31, 2025 (the "AIF"), which included references to my name and to the technical report entitled "Feasibility Study and Technical Report on the DeLamar Project, Owyhee County, Idaho, USA" dated February 2, 2026, with an effective date of December 8, 2025, hereby consent to (i) the reference of my name in the AIF, (ii) the inclusion of my name and the use of scientific and technical information attributed to me in the Form 40-F, and any amendments thereto, and (iii) the use of information derived from the technical report in the AIF and the Form 40-F, and any amendments thereto.

I also hereby consent to the use of information attributed to me in the AIF being included in or incorporated by reference into the registration statements on Form S-8 (File Nos. 333-242495 and 333-267507). This consent extends to any amendments to the Form S-8, including post-effective amendments, and any new Form S-8 registration statements filed by the Company incorporating by reference the Form 40-F.

---

| |
|:---|
| */s/ Barry Carlson* |
| Name: Barry Carlson, P.E., P.Eng., SME-RM |

---

## Exhibit 99.18

**CONSENT OF DEEPAK MALHOTRA**

March 24, 2026

**VIA EDGAR**

United States Securities and Exchange Commission

---

| | |
|:---|:---|
| **Re:** | **Integra Resources Corp. (the "Company")** |
| | **Annual Report on Form 40-F of the Company for the year ended December 31, 2025 (the "Form 40-F")** |

---

I, Deepak Malhotra, in connection with the Annual Information Form of the Company for the fiscal year ended December 31, 2025 (the "AIF"), which included references to my name and to the technical report entitled "Feasibility Study and Technical Report on the DeLamar Project, Owyhee County, Idaho, USA" dated February 2, 2026, with an effective date of December 8, 2025, hereby consent to (i) the reference of my name in the AIF, (ii) the inclusion of my name and the use of scientific and technical information attributed to me in the Form 40-F, and any amendments thereto, and (iii) the use of information derived from the technical report in the AIF and the Form 40-F, and any amendments thereto.

I also hereby consent to the use of information attributed to me in the AIF being included in or incorporated by reference into the registration statements on Form S-8 (File Nos. 333-242495 and 333-267507). This consent extends to any amendments to the Form S-8, including post-effective amendments, and any new Form S-8 registration statements filed by the Company incorporating by reference the Form 40-F.

---

| |
|:---|
| */s/ Deepak Malhotra* |
| Name: Deepak Malhotra, PhD |

---

## Exhibit 99.19

**CONSENT OF JEFFREY BICKEL**

March 24, 2026

**VIA EDGAR**

United States Securities and Exchange Commission

---

| | |
|:---|:---|
| **Re:** | **Integra Resources Corp. (the "Company")** |
| | **Annual Report on Form 40-F of the Company for the year ended December 31, 2025 (the "Form 40-F")** |

---

I, Jeffrey Bickel, in connection with the Annual Information Form of the Company for the fiscal year ended December 31, 2025 (the "AIF"), which included references to my name and to the technical report entitled "Feasibility Study and Technical Report on the DeLamar Project, Owyhee County, Idaho, USA" dated February 2, 2026, with an effective date of December 8, 2025, hereby consent to (i) the reference of my name in the AIF, (ii) the inclusion of my name and the use of scientific and technical information attributed to me in the Form 40-F, and any amendments thereto, and (iii) the use of information derived from the technical report in the AIF and the Form 40-F, and any amendments thereto.

I also hereby consent to the use of information attributed to me in the AIF being included in or incorporated by reference into the registration statements on Form S-8 (File Nos. 333-242495 and 333-267507). This consent extends to any amendments to the Form S-8, including post-effective amendments, and any new Form S-8 registration statements filed by the Company incorporating by reference the Form 40-F.

---

| |
|:---|
| */s/ Jeffrey Bickel* |
| Name: Jeffrey Bickel, CPG |

---

## Exhibit 99.20

**CONSENT OF STERLING (KEITH) WATSON**

March 24, 2026

**VIA EDGAR**

United States Securities and Exchange Commission

---

| | |
|:---|:---|
| **Re:** | **Integra Resources Corp. (the "Company")** |
| | **Annual Report on Form 40-F of the Company for the year ended December 31, 2025 (the "Form 40-F")** |

---

I, Sterling (Keith) Watson, in connection with the Annual Information Form of the Company for the fiscal year ended December 31, 2025 (the "AIF"), which included references to my name and to the technical report entitled "Feasibility Study and Technical Report on the DeLamar Project, Owyhee County, Idaho, USA" dated February 2, 2026, with an effective date of December 8, 2025, hereby consent to (i) the reference of my name in the AIF, (ii) the inclusion of my name and the use of scientific and technical information attributed to me in the Form 40-F, and any amendments thereto, and (iii) the use of information derived from the technical report in the AIF and the Form 40-F, and any amendments thereto.

I also hereby consent to the use of information attributed to me in the AIF being included in or incorporated by reference into the registration statements on Form S-8 (File Nos. 333-242495 and 333-267507). This consent extends to any amendments to the Form S-8, including post-effective amendments, and any new Form S-8 registration statements filed by the Company incorporating by reference the Form 40-F.

---

| |
|:---|
| */s/ Sterling (Keith) Watson* |
| Name: Sterling (Keith) Watson, P.Eng. |

---

## Exhibit 99.21

**CONSENT OF JAY NOPOLA**

March 24, 2026

**VIA EDGAR**

United States Securities and Exchange Commission

---

| | |
|:---|:---|
| **Re:** | **Integra Resources Corp. (the "Company")** |
| | **Annual Report on Form 40-F of the Company for the year ended December 31, 2025 (the "Form 40-F")** |

---

I, Jay Nopola, in connection with the Annual Information Form of the Company for the fiscal year ended December 31, 2025 (the "AIF"), which included references to my name and to the technical report entitled "Feasibility Study and Technical Report on the DeLamar Project, Owyhee County, Idaho, USA" dated February 2, 2026, with an effective date of December 8, 2025, hereby consent to (i) the reference of my name in the AIF, (ii) the inclusion of my name and the use of scientific and technical information attributed to me in the Form 40-F, and any amendments thereto, and (iii) the use of information derived from the technical report in the AIF and the Form 40-F, and any amendments thereto.

I also hereby consent to the use of information attributed to me in the AIF being included in or incorporated by reference into the registration statements on Form S-8 (File Nos. 333-242495 and 333-267507). This consent extends to any amendments to the Form S-8, including post-effective amendments, and any new Form S-8 registration statements filed by the Company incorporating by reference the Form 40-F.

---

| |
|:---|
| */s/ Jay Nopola* |
| Name: Jay Nopola, P.E., P.Eng., CPG |

---

## Exhibit 99.22

**CONSENT OF WILLIAM J. LEWIS**

March 24, 2026

**VIA EDGAR**

United States Securities and Exchange Commission

---

| | |
|:---|:---|
| **Re:** | **Integra Resources Corp. (the "Company")** |
| | **Annual Report on Form 40-F of the Company for the year ended December 31, 2025 (the "Form 40-F")** |

---

I, William J. Lewis, in connection with the Annual Information Form of the Company for the fiscal year ended December 31, 2025 (the "AIF"), which included references to my name and to the technical report entitled "NI 43-101 Technical Report Preliminary Economic Assessment for the Wildcat and Mountain View Projects, Pershing and Washoe Counties, Nevada, USA" dated July 30, 2023, with an effective date of June 28, 2023, hereby consent to (i) the reference of my name in the AIF, (ii) the inclusion of my name and the use of scientific and technical information attributed to me in the Form 40-F, and any amendments thereto, and (iii) the use of information derived from the technical report in the AIF and the Form 40-F, and any amendments thereto.

I also hereby consent to the use of information attributed to me in the AIF being included in or incorporated by reference into the registration statements on Form S-8 (File Nos. 333-242495 and 333-267507). This consent extends to any amendments to the Form S-8, including post-effective amendments, and any new Form S-8 registration statements filed by the Company incorporating by reference the Form 40-F.

---

| |
|:---|
| */s/ William J. Lewis* |
| Name: William J. Lewis, P.Geo. |

---

## Exhibit 99.23

**CONSENT OF RICHARD GOWANS**

March 24, 2026

**VIA EDGAR**

United States Securities and Exchange Commission

---

| | |
|:---|:---|
| **Re:** | **Integra Resources Corp. (the "Company")** |
| | **Annual Report on Form 40-F of the Company for the year ended December 31, 2025 (the "Form 40-F")** |

---

I, Richard Gowans, in connection with the Annual Information Form of the Company for the fiscal year ended December 31, 2025 (the "AIF"), which included references to my name and to the technical report entitled "NI 43-101 Technical Report Preliminary Economic Assessment for the Wildcat and Mountain View Projects, Pershing and Washoe Counties, Nevada, USA" dated July 30, 2023, with an effective date of June 28, 2023, hereby consent to (i) the reference of my name in the AIF, (ii) the inclusion of my name and the use of scientific and technical information attributed to me in the Form 40-F, and any amendments thereto, and (iii) the use of information derived from the technical report in the AIF and the Form 40-F, and any amendments thereto.

I also hereby consent to the use of information attributed to me in the AIF being included in or incorporated by reference into the registration statements on Form S-8 (File Nos. 333-242495 and 333-267507). This consent extends to any amendments to the Form S-8, including post-effective amendments, and any new Form S-8 registration statements filed by the Company incorporating by reference the Form 40-F.

---

| |
|:---|
| */s/ Richard Gowans* |
| Name: Richard Gowans, P.Eng. |

---

## Exhibit 99.24

**CONSENT OF CHRISTOPHER JACOBS**

March 24, 2026

**VIA EDGAR**

United States Securities and Exchange Commission

---

| | |
|:---|:---|
| **Re:** | **Integra Resources Corp. (the "Company")** |
| | **Annual Report on Form 40-F of the Company for the year ended December 31, 2025 (the "Form 40-F")** |

---

I, Christopher Jacobs, in connection with the Annual Information Form of the Company for the fiscal year ended December 31, 2025 (the "AIF"), which included references to my name and to the technical report entitled "NI 43-101 Technical Report Preliminary Economic Assessment for the Wildcat and Mountain View Projects, Pershing and Washoe Counties, Nevada, USA" dated July 30, 2023, with an effective date of June 28, 2023, hereby consent to (i) the reference of my name in the AIF, (ii) the inclusion of my name and the use of scientific and technical information attributed to me in the Form 40-F, and any amendments thereto, and (iii) the use of information derived from the technical report in the AIF and the Form 40-F, and any amendments thereto.

I also hereby consent to the use of information attributed to me in the AIF being included in or incorporated by reference into the registration statements on Form S-8 (File Nos. 333-242495 and 333-267507). This consent extends to any amendments to the Form S-8, including post-effective amendments, and any new Form S-8 registration statements filed by the Company incorporating by reference the Form 40-F.

---

| |
|:---|
| */s/ Christopher Jacobs* |
| Name: Christopher Jacobs, C.Eng., MIMMM |

---

## Exhibit 99.25

**CONSENT OF ANDREW HANSON**

March 24, 2026

**VIA EDGAR**

United States Securities and Exchange Commission

---

| | |
|:---|:---|
| **Re:** | **Integra Resources Corp. (the "Company")** |
| | **Annual Report on Form 40-F of the Company for the year ended December 31, 2025 (the "Form 40-F")** |

---

I, Andrew Hanson, in connection with the Annual Information Form of the Company for the fiscal year ended December 31, 2025 (the "AIF"), which included references to my name and to the technical report entitled "NI 43-101 Technical Report Preliminary Economic Assessment for the Wildcat and Mountain View Projects, Pershing and Washoe Counties, Nevada, USA" dated July 30, 2023, with an effective date of June 28, 2023, hereby consent to (i) the reference of my name in the AIF, (ii) the inclusion of my name and the use of scientific and technical information attributed to me in the Form 40-F, and any amendments thereto, and (iii) the use of information derived from the technical report in the AIF and the Form 40-F, and any amendments thereto.

I also hereby consent to the use of information attributed to me in the AIF being included in or incorporated by reference into the registration statements on Form S-8 (File Nos. 333-242495 and 333-267507). This consent extends to any amendments to the Form S-8, including post-effective amendments, and any new Form S-8 registration statements filed by the Company incorporating by reference the Form 40-F.

---

| |
|:---|
| */s/ Andrew Hanson* |
| Name: Andrew Hanson, P.E. |

---

## Exhibit 99.26

**CONSENT OF DEEPAK MALHOTRA**

March 24, 2026

**VIA EDGAR**

United States Securities and Exchange Commission

---

| | |
|:---|:---|
| **Re:** | **Integra Resources Corp. (the "Company")** |
| | **Annual Report on Form 40-F of the Company for the year ended December 31, 2025 (the "Form 40-F")** |

---

I, Deepak Malhotra, in connection with the Annual Information Form of the Company for the fiscal year ended December 31, 2025 (the "AIF"), which included references to my name and to the technical report entitled "NI 43-101 Technical Report Preliminary Economic Assessment for the Wildcat and Mountain View Projects, Pershing and Washoe Counties, Nevada, USA" dated July 30, 2023, with an effective date of June 28, 2023, hereby consent to (i) the reference of my name in the AIF, (ii) the inclusion of my name and the use of scientific and technical information attributed to me in the Form 40-F, and any amendments thereto, and (iii) the use of information derived from the technical report in the AIF and the Form 40-F, and any amendments thereto.

I also hereby consent to the use of information attributed to me in the AIF being included in or incorporated by reference into the registration statements on Form S-8 (File Nos. 333-242495 and 333-267507). This consent extends to any amendments to the Form S-8, including post-effective amendments, and any new Form S-8 registration statements filed by the Company incorporating by reference the Form 40-F.

---

| |
|:---|
| */s/ Deepak Malhotra* |
| Name: Deepak Malhotra, PhD |

---

## Exhibit 99.27

**CONSENT OF RALSTON PEDERSEN**

March 24, 2026

**VIA EDGAR**

United States Securities and Exchange Commission

---

| | |
|:---|:---|
| **Re:** | **Integra Resources Corp. (the "Company")** |
| | **Annual Report on Form 40-F of the Company for the year ended December 31, 2025 (the "Form 40-F")** |

---

I, Ralston Pedersen, in connection with the Annual Information Form of the Company for the fiscal year ended December 31, 2025 (the "AIF"), which included references to my name and to the technical report entitled "NI 43-101 Technical Report Preliminary Economic Assessment for the Wildcat and Mountain View Projects, Pershing and Washoe Counties, Nevada, USA" dated July 30, 2023, with an effective date of June 28, 2023, hereby consent to (i) the reference of my name in the AIF, (ii) the inclusion of my name and the use of scientific and technical information attributed to me in the Form 40-F, and any amendments thereto, and (iii) the use of information derived from the technical report in the AIF and the Form 40-F, and any amendments thereto.

I also hereby consent to the use of information attributed to me in the AIF being included in or incorporated by reference into the registration statements on Form S-8 (File Nos. 333-242495 and 333-267507). This consent extends to any amendments to the Form S-8, including post-effective amendments, and any new Form S-8 registration statements filed by the Company incorporating by reference the Form 40-F.

---

| |
|:---|
| */s/ Ralston Pedersen* |
| Name: Ralston Pedersen, P.E. |

---

## Exhibit 99.28

**CONSENT OF MICON INTERNATIONAL LIMITED**

March 24, 2026

**VIA EDGAR**

United States Securities and Exchange Commission

---

| | |
|:---|:---|
| **Re:** | **Integra Resources Corp. (the "Company")** |
| | **Annual Report on Form 40-F of the Company for the year ended December 31, 2025 (the "Form 40-F")** |

---

Micon International Limited, in connection with the Annual Information Form of the Company for the fiscal year ended December 31, 2025 (the "AIF"), which included references to our name and to the technical report entitled "NI 43-101 Technical Report Preliminary Economic Assessment for the Wildcat and Mountain View Projects, Pershing and Washoe Counties, Nevada, USA" dated July 30, 2023, with an effective date of June 28, 2023, hereby consent to (i) the reference of our name in the AIF, (ii) the inclusion of our name and the use of scientific and technical information attributed to us in the Form 40-F, and any amendments thereto, and (iii) the use of information derived from the technical report in the AIF and the Form 40-F, and any amendments thereto.

I also hereby consent to the use of information attributed to us in the AIF being included in or incorporated by reference into the registration statements on Form S-8 (File Nos. 333-242495 and 333-267507). This consent extends to any amendments to the Form S-8, including post-effective amendments, and any new Form S-8 registration statements filed by the Company incorporating by reference the Form 40-F.

*/s/ Justin Taylor*

 <br> Name: Justin TaylorTitle: President & CEO

## Exhibit 99.29

**CONSENT OF RESPEC COMPANY LLC**

March 24, 2026

**VIA EDGAR**

United States Securities and Exchange Commission

---

| | |
|:---|:---|
| **Re:** | **Integra Resources Corp. (the "Company")** |
| | **Annual Report on Form 40-F of the Company for the year ended December 31, 2025 (the "Form 40-F")** |

---

RESPEC Company LLC, in connection with the Annual Information Form of the Company for the fiscal year ended December 31, 2025 (the "AIF"), which included references to our name and to the technical report entitled "Feasibility Study and Technical Report on the DeLamar Project, Owyhee County, Idaho, USA" dated February 2, 2026, with an effective date of December 8, 2025, hereby consent to (i) the reference of our name in the AIF, (ii) the inclusion of our name and the use of scientific and technical information attributed to us in the Form 40-F, and any amendments thereto, and (iii) the use of information derived from the technical report in the AIF and the Form 40-F, and any amendments thereto.

I also hereby consent to the use of information attributed to us in the AIF being included in or incorporated by reference into the registration statements on Form S-8 (File Nos. 333-242495 and 333-267507). This consent extends to any amendments to the Form S-8, including post-effective amendments, and any new Form S-8 registration statements filed by the Company incorporating by reference the Form 40-F.

*/s/ Sterling Keith Watson*

 <br> Name: Sterling Keith WatsonTitle: Program Manager, Reno NV

<br>