Integra Announces Leadership Transition
INTEGRA ANNOUNCES LEADERSHIP
TRANSITION
TSXV: ITR; NYSE American: ITRG
www.integraresources.com
VANCOUVER, BC
,
Jan. 10, 2025
/CNW/ -
Integra Resources Corp. ("Integra" or the
"Company")
(TSXV: ITR) (NYSE American: ITRG) announces that Integra's Board of Directors (the
"Board") has appointed George Salamis as President, Chief Executive Officer & Director and
Anna
Ladd-Kruger
as Chair of the Board, effective immediately. Mr. Salamis succeeds
Jason Kosec
as
Integra's President and Chief Executive Officer. Mr. Kosec has also resigned as a Director of the
Company.
Anna Ladd-Kruger
, Chair of the Board of Directors of Integra stated: "This is a natural time to
transition our leadership as we pursue our vision of becoming a leading precious metals producer in
the Great Basin region. George will seamlessly step back into the role of Chief Executive Officer, a
position he held upon founding Integra in 2017. George will leverage the knowledge he has gained
over 30 years working in the global mining industry, including with major mining operators Placer
Dome and Cameco. He will lead the team with a focus on our two strategic priorities: reaching
sustained profitability and operational excellence at our Florida Canyon Mine in
Nevada
and
advancing our built-in growth pipeline through the DeLamar and Nevada North development projects,
with an emphasis on permitting during a pivotal time for natural resource development in the US. On
behalf of the Board, we would like to thank Jason for his contributions to Integra and we wish him all
the best in his future pursuits."
George Salamis, President, CEO & Director, commented: "We are grateful for Jason's contributions
to Integra, including the role he played in consolidating Integra's exploration, development and
producing assets in
Nevada
and
Idaho
. By bringing these assets together, Jason helped to establish
a strategic path for Integra to become a growing precious metals producer in the Great Basin of the
Western United States
. We move forward on this path with energy, knowing our Florida Canyon
Mine will play a crucial role in realizing our vision. Over the course of 2025, we will strengthen our
robust operating and development teams, adding mining expertise and production excellence to our
executive team. Our goal is to announce a new Chief Operating Officer during Q1 2025 and have an
expanded operations team in place by early 2026."
"The cash flow we generate at the Florida Canyon mine will support both the mine's own resiliency
as it continues producing reliable value, as well as the accelerated advancement of the DeLamar
Project" stated Mr. Salamis. "We will aim to initiate the federal permitting process for DeLamar in
2025, carefully timed as the new federal administration settles into its new roles, and begin
executing on policies that bring jobs and investments back to the US and build up local supply chains.
There has never been a more exciting time to pursue responsible mining development and
sustainable operations in the US."
Jason Kosec
added, "It has been a privilege to build a high-quality asset portfolio at Integra, during a
time when the industry needed consolidation. I will be available to the team to ensure a smooth
transition of responsibilities and look forward to realizing value as a shareholder."
Anna Ladd-Kruger
has played a pivotal role in Integra's growth trajectory since she was appointed
to the Board in 2018, as Director and Audit Chair. Anna has over 25 years of industry experience,
progressing her career through financial and operational leadership roles at several Canadian
publicly listed mining companies. She holds experience in various stages of the mining process from
exploration to multi-jurisdictional operations. Anna's extensive executive and director level experience
for numerous junior and mid-tier producers ideally positions her to lead Integra through the next
phase of growth as a producing company.
Since founding the Company in 2017, after co-leading the successful sale of Integra Gold to
Eldorado Gold for
C$590 million
as Executive Chairman, Mr. Salamis has been either President and
CEO or Executive Chair of Integra, fostering collaborative working relationships across the capital
markets, shareholders, and stakeholders in
Idaho
and
Nevada
. He has assembled a strategic Board
of Directors purpose-built to advance natural resource development in the Great Basin region, during
a time when US federal policy is shifting to prioritize domestic mineral production and reduce reliance
on foreign supply chains.
About Integra Resources
Integra is a growing precious metals producer in the Great Basin of the
Western United States
.
Integra is focused on demonstrating profitability and operational excellence at its principal operating
asset, the Florida Canyon Mine, located in
Nevada
. In addition, Integra is 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
. Integra creates
sustainable value for shareholders, stakeholders, and local communities through successful mining
operations, efficient project development, disciplined capital allocation, and strategic M&A, while
upholding the highest industry standards for environmental, social, and governance practices.
ON BEHALF OF THE BOARD OF DIRECTORS
George Salamis
President, CEO & Director
Forward Looking and Other Cautionary Statements
Certain information set forth in this news release contains "forward
looking statements" and
"forward
looking information" within the meaning of applicable Canadian securities legislation and
applicable
United States
securities laws (referred to herein as forward
looking statements). Except
for statements of historical fact, certain information contained herein constitutes forward
looking
statements which includes, but is not limited to, statements with respect to: Board and management
changes including, but not limited to, plans to announce a new Chief Operating Officer and expanded
operations team; cash flow and use thereof; project permitting; the future financial or operating
strategies, goals and performance of the Company and the Company's mineral properties and
project portfolio; the results from work performed to date; the estimation of mineral resources and
reserves; the realization of mineral resource and reserve estimates; the development, operational
and economic results of technical reports on mineral properties referenced herein; magnitude or
quality of mineral deposits; the anticipated advancement of the Company' mineral properties and
project portfolios; exploration expenditures, costs and timing of the development of new deposits;
underground exploration potential; costs and timing of future exploration; the completion and timing
of future development studies; estimates of metallurgical recovery rates; exploration prospects of
mineral properties; requirements for additional capital; the future price of metals; government
regulation of mining operations; environmental risks; the timing and possible outcome of pending
regulatory matters; the realization of the expected economics of mineral properties; future growth
potential of mineral properties; and future development plans.
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 information is provided. Assumptions and factors include: availability of skilled labour;
the Company's ability to complete its planned exploration and development programs; the absence
of adverse conditions at the Company's mineral properties; satisfying ongoing covenants under the
Company's loan facilities; 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 and silver; 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 involve significant known and unknown risks and
uncertainties, which could cause actual results to differ materially from those anticipated. These
risks 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; benefits of certain technology usage; 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; 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 management's ability to anticipate
and manage the foregoing factors and risks. Although the Company has attempted to identify
important factors and risks 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. Readers are advised to study and
consider risk factors disclosed in Integra's annual report on Form 20-F dated
March 28, 2024
for the
fiscal year ended
December 31, 2023
and Florida Canyon Gold Inc.'s listing application on TSX
Venture Exchange Form 2B, each of which are available on the respective SEDAR+ issuer profiles
for the Company and Florida Canyon Gold Inc. available at
www.sedarplus.ca
.
There can be no assurance that forward
looking statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements. The
Company undertakes no obligation to update forward
looking statements if circumstances or
management's estimates or opinions should change except as required by applicable securities
laws. The forward-looking statements contained herein are presented for the purposes of assisting
investors in understanding the Company's plans, objectives and goals, and may not be appropriate
for other purposes. Forward-looking statements are not guarantees of future performance and the
reader is cautioned not to place undue reliance on forward
looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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SOURCE
Integra Resources Corp.
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%SEDAR: 00013334E
For further information:
CONTACT INFORMATION: Corporate Inquiries:
[email protected], Company website: www.integraresources.com, Office phone: 1 (604)
416-0576
CO: Integra Resources Corp.
CNW 06:40e 10-JAN-25