DeLamar's Green Light: Integra's $61M Fuels Path to Production

VANCOUVER, BC – February 09, 2026 – Integra Resources Corp. has successfully closed a major financing deal, injecting US$61.6 million into its coffers and signaling a powerful vote of investor confidence in its flagship DeLamar gold and silver project in Idaho. The oversubscribed offering, which saw strong demand from the market, provides the company with the capital to significantly de-risk and accelerate the project's development, capitalizing on a series of recent strategic and regulatory victories.

The bought deal financing, co-led by prominent investment banks Canaccord Genuity Corp. and Stifel Nicolaus Canada Inc., was not just successful but also saw underwriters fully exercise their over-allotment option. This move underscores a robust appetite for Integra's vision, positioning the company to transition from developer to producer on a much clearer timeline. The proceeds are earmarked for critical pre-production activities at DeLamar, transforming a promising feasibility study into tangible on-the-ground progress.

A Calculated Capital Strike

Integra announced the completion of its public offering of 18,121,600 common shares at a price of US$3.40 per share. The structure of the deal as a "bought deal" is significant; it means the syndicate of underwriters agreed to purchase the entire offering, assuming the market risk and guaranteeing the proceeds for the company—a clear indicator of the underwriters' confidence in placing the shares with investors. The subsequent full exercise of the over-allotment option confirmed that this confidence was well-founded, with market demand exceeding the initial offering size.

The timing of the capital raise is pivotal. It follows a cascade of positive news for the company, allowing it to negotiate from a position of strength. As Integra President and CEO George Salamis noted in the company's announcement, "Following significant permitting milestones in early 2026... together with the recent filing of the DeLamar Project Feasibility Study, this oversubscribed financing positions Integra to capitalize on a clear execution window."

This strategic sequencing—achieving key milestones before seeking major funding—was designed to enhance project value and minimize shareholder dilution. By demonstrating tangible progress on both the technical and regulatory fronts, Integra was able to attract capital on more favorable terms than if it had approached the market with greater uncertainty surrounding the project's future.

De-Risking the Path to Production

The US$61.6 million financing is more than just fuel for development; it's the market's validation of a meticulously de-risked project. Two recent, transformative achievements set the stage for this successful capital raise.

First and foremost was securing an accelerated federal permitting timeline under the FAST-41 program. This designation is a game-changer for any major infrastructure project in the United States, particularly in the mining sector where permitting can be a protracted and unpredictable process. For DeLamar, it establishes a clear and coordinated 15-month review schedule with the U.S. Bureau of Land Management. This framework, which includes enhanced inter-agency coordination and congressional oversight, provides unprecedented certainty and targets a final Record of Decision for the project by the third quarter of 2027. This milestone effectively put a finish line in sight for the permitting marathon, a "really big de-risking event," as described by industry observers.

The second pillar of this de-risking strategy was the delivery of a robust Feasibility Study for DeLamar, filed on February 2, 2026. The study outlined a low-cost, large-scale, open-pit heap leach operation with compelling economics. It projected an after-tax Internal Rate of Return (IRR) of 46% and a payback period of just 1.8 years using conservative base-case metal prices. At recent spot prices, the project's economics become even more attractive, with the IRR potentially soaring above 90%. The study detailed a plan to produce 1.1 million gold-equivalent ounces over a 10-year mine life with competitive All-In Sustaining Costs (AISC) of US$1,480 per ounce, well below industry averages.

Building Momentum Before the Build

With funding secured and a clear regulatory path ahead, Integra is now poised to begin the crucial work that bridges the gap between study and construction. The net proceeds of the offering are designated for pre-production capital expenditures that can advance ahead of the final Record of Decision. This includes procurement of long-lead time equipment, early site works, and strategic land purchases.

This "disciplined approach," as termed by Salamis, allows the company to use the permitting window productively. By ordering essential machinery and preparing initial infrastructure now, Integra can significantly shorten the overall development timeline once final approvals are granted. This proactive strategy is designed to reduce execution risk, as it flattens the construction curve and mitigates potential bottlenecks.

The initial capital cost for the DeLamar project is estimated at US$389 million. The US$61.6 million raised is a critical down payment on this, funding the initial phases and demonstrating the project's financial momentum. This early funding not only accelerates physical progress but also lowers future financing risk by breaking down the total capital requirement into more manageable tranches and building a track record of successful execution.

A Standout in the Junior Mining Sector

In a competitive market for capital, Integra's success highlights what investors are currently rewarding: well-managed companies with economically sound projects in stable jurisdictions. The DeLamar project possesses a "scarcity value" as one of the few large-scale, development-stage precious metals projects in the United States that is actively and successfully moving through the federal permitting process.

The combination of a robust Feasibility Study, a highly coveted FAST-41 permitting designation, and a fully-subscribed financing led by top-tier banks sets Integra and its DeLamar project apart from many of its peers. The company has effectively created a clear, funded, and accelerated path toward a construction decision. This sequence of achievements provides a compelling case study in modern mine development, showcasing how strategic de-risking and disciplined capital management can unlock significant value and pave the way for America's next major gold and silver mine.