Integra Resources : Second Quarter MD&A (2024)

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Integra Resources Corp.

Management's Discussion and Analysis

For the Three and Six-Month Periods Ended

June 30, 2024 and 2023

Expressed in US Dollars

MANAGEMENT'S DISCUSSION & ANALYSIS

For the Three and Six-Month Periods Ended June 30, 2024 and 2023

This portion of this quarterly report provides Management's Discussion and Analysis ("MD&A") of the financial condition and results of operations, to enable a reader to assess material changes in financial condition and results of operations as at, and for the three and six-month period ended June 30, 2024, in comparison to the corresponding prior-year periods. The MD&A is intended to help the reader understand Integra Resources Corp. ("Integra", "we", "our" or the "Company"), our operations, financial performance, and present and future business environment.

This MD&A has been prepared by management as at August 14, 2024 and should be read in conjunction with the unaudited interim condensed consolidated financial statements of Integra for the three and six-month periods ended June 30, 2024 and 2023 and the Company's audited consolidated financial statements of Integra for the years ended December 31, 2023 and 2022 prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board (the "IASB"). Further information on the Company can be found on SEDAR+ at www.sedarplus.caand the Company's website, www.integraresources.com.

For the purposes of preparing our MD&A, we consider the materiality of information. Information is considered material if: (i) such information results in, or would reasonably be expected to result in, a significant change in the market price or value of our shares; or (ii) there is a substantial likelihood that a reasonable investor would consider it important in making an investment decision; or (iii) it would significantly alter the total mix of information available to investors. We evaluate materiality with reference to all relevant circ*mstances, including potential market sensitivity.

CORPORATE SUMMARY AND DESRIPTION OF THE BUSINESS

Integra Resources Corp. is one of the largest precious metals exploration and development companies in the Great Basin of the Western US. Integra is currently focused on advancing its two flagship oxide heap leach projects: the past producing DeLamar Project located in southwestern Idaho and the Nevada North Project, comprised of the Wildcat and Mountain View deposits, located in western Nevada. The Company also holds a portfolio of highly prospective early- stage exploration projects in Idaho, Nevada and Arizona. Integra's long-term vision is to become a leading US focused mid-tier high margin gold and silver producer.

As of August 14, 2024, the senior executives and directors of the Company were:

The Company is incorporated under the Business Corporations Act (British Columbia) (the "BCBCA").

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

The Company trades on the TSX Venture Exchange ("TSX-V"), under the trading symbol "ITR" and trades in the United States on the NYSE American under the stock symbol "ITRG". The Company's warrants trade on the TSX-V under the symbol MPM.WT and ITR.WT.

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MANAGEMENT'S DISCUSSION & ANALYSIS

For the Three and Six-Month Periods Ended June 30, 2024 and 2023

The Company completed a 2.5 to 1 share consolidation on May 26, 2023 (the "Consolidation"). As a result, the share figures disclosed in this MD&A have been adjusted for the Consolidation.

The Company completed on May 4, 2023 a merger with Millennial Precious Metals Corp ("Millennial"), (the "Millennial Acquisition"). As a result of the transaction, Millennial has become a wholly-owned subsidiary of Integra.

Q2 2024 IN REVIEW AND RECENT EVENTS

CORPORATE

Merger with Florida Canyon Gold Inc ("FCGI")

The Company announced on July 29, 2024 that it has entered into a definitive arrangement agreement (the "Arrangement Agreement"), dated July 28, 2024, whereby Integra has agreed to acquire all of the issued and outstanding shares of FCGI pursuant to a court-approved plan of arrangement (the "Transaction").

Under the terms of the Transaction, FCGI shareholders will receive 0.467 of a common share of Integra (each whole share, an "Integra Share") for each common share of FCGI ("FCGI Share") held (the "Exchange Ratio"). Existing shareholders of Integra and FCGI will own approximately 60% and 40%, respectively, of the outstanding Integra Shares on closing of the Transaction (but prior to the completion of the private placement equity financing described below) on

1. fully-dilutedin-the-money basis. The Exchange Ratio implies consideration of C$0.69 per FCGI Share based on the closing market price of the Integra Shares on the TSX-V on July 26, 2024 for total consideration of approximately C$95 million.

The Transaction will be effected by way of a court-approved plan of arrangement under the Canada Business Corporations Act, requiring the approval of (i) at least 66 ⅔% of the votes cast by the shareholders of FCGI voting in person or represented by proxy, (ii) if applicable, a simple majority of the votes cast by shareholders of FCGI, excluding for this purpose the votes of "related parties" and "interested parties" and other votes required to be excluded under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions, all at a special meeting of FCGI's shareholders to consider the Transaction, and (iii) the approval of the Ontario Superior Court of Justice.

In addition to shareholder and court approvals, the Transaction is subject to applicable regulatory approvals, including the approvals of the TSX-V and the satisfaction of certain other closing conditions customary in transactions of this nature as well as customary interim period covenants regarding the operation of each of the Companies' respective businesses. The Transaction is subject to the prior completion of the sale of FCGI's Mexican assets, as previously announced, and receipt of approval from the Federal Economic Competition Commission (Comisión Federal de Competencia Económica - COFECE), under the Federal Law of Economic Competition, to such sale. The transaction is also conditional upon binding arrangements being in place for the replacement of collateral supporting the FCGI Surety Bond and release of the Alamos Surety Bond Guarantee. The Arrangement Agreement contains customary provisions including fiduciary-out provisions in favour of FCGI, non-solicitation and right to match superior proposals in favour of Integra, and a $2.25 million termination fee payable to Integra under certain circ*mstances.

Subject to the satisfaction of these conditions, Integra and FCGI expect that the Transaction will be completed in the fourth quarter of 2024. Details regarding these and other terms of the Transaction are set out in the Arrangement Agreement, which is available under the SEDAR+ profiles of Integra and FCGI at www.sedarplus.ca.

Please refer to the press release dated July 29, 2024 for further details.

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MANAGEMENT'S DISCUSSION & ANALYSIS

For the Three and Six-Month Periods Ended June 30, 2024 and 2023

Bought Deal Private Placement Offering of Subscription Receipts

Concurrently with the Transaction (as described above), Integra has entered into an agreement with Stifel and Eight Capital, as co-lead underwriters and joint bookrunners (collectively, the "Co-LeadUnderwriters"), on behalf of a syndicate of underwriters (the "Underwriters"), in connection with a bought deal private placement offering of 14,900,000 subscription receipts of Integra (the "Subscription Receipts") at a price of C$1.35 per Subscription Receipt (the "Issue Price") for gross proceeds to Integra of approximately C$20 million (the "Offering").

Each Subscription Receipt shall represent 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 Transaction other than the issuance of the consideration shares to shareholders of FCGI) (the "Escrow Release Conditions"), without payment of additional consideration, one Integra Share, subject to adjustments and in accordance with the terms and conditions of a subscription receipt agreement to be entered into upon closing of the Offering (the "Subscription Receipt Agreement").

The gross proceeds from the sale of the Subscription Receipts will be deposited and held in escrow pending the satisfaction or waiver of the Escrow Release Conditions by TSX Trust Company, as subscription receipt and escrow agent under the Subscription Receipt Agreement. Integra will pay the Underwriters a cash commission and the expenses of the Underwriters incurred in connection with the Offering.

If a Termination Event (as defined below) occurs, the escrowed proceeds of the Offering will be returned on a pro rata basis to the holders of Subscription Receipts, together with the interest earned thereon, and the Subscription Receipts will be cancelled and have no further force and effect, all in accordance with the terms of the Subscription Receipt Agreement. For the purposes of the Brokered Offering, a "Termination Event" includes: (a) an event in which the Escrow Release Conditions are not satisfied or waived prior to December 15, 2024 (subject to extensions in limited circ*mstances); or (b) the termination of the Arrangement Agreement (as defined above) in accordance with its terms.

The Offering is expected to close on or about August 21, 2024 and is subject to TSXV and other necessary regulatory approvals. Following completion of the Transaction, the net proceeds from the Offering is expected to be used to fund mine optimization opportunities at Florida Canyon, for continued advancement of DeLamar and Nevada North, and for general corporate purposes.

The Subscription Receipts will be offered by way of: (a) private placement in each of the provinces of Canada pursuant to applicable prospectus exemptions under applicable Canadian securities laws; (b) in the United States or to, or for the account or benefit of U.S. persons, by way of private placement pursuant to the exemptions from registration provided by Rule 144A under the U.S. Securities Act and/or Rule 506(b) of Regulation D under the U.S. Securities Act and/or Section 4(a)(2) of the U.S. Securities Act, as applicable, and similar exemptions under applicable securities laws of any state of the United States; and (c) in jurisdictions outside of Canada and the United States as are agreed to by Integra and the Underwriters on a private placement or equivalent basis.

Amendments to the Beedie Capital Credit Facility

In connection with the closing of the Transaction (as described above), Integra announced that it has entered into a fourth supplemental credit agreement ("Fourth Supplemental Credit Agreement") with Beedie Capital to amend the convertible loan agreement dated July 28, 2022, as amended by a first supplemental credit agreement dated as of February 26, 2023, a second supplemental credit agreement dated as of May 4, 2023 and a third supplemental agreement dated as of February 20, 2024 (as amended by the Fourth Supplemental Credit Agreement (the "Credit Agreement"), pursuant to which Beedie Capital agreed to loan up to $20 million (the "Convertible Facility").

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MANAGEMENT'S DISCUSSION & ANALYSIS

For the Three and Six-Month Periods Ended June 30, 2024 and 2023

Beedie Capital agreed to a second advance in the amount of $5 million subject to satisfying certain conditions under the Fourth Supplemental Credit Agreement, and to further amend the Convertible Facility to accommodate the assets of FCGI and its subsidiaries, each of which, following the closing of the Transaction, will be loan parties and provide guarantees and security for the obligations under the Credit Agreement.

Beedie Capital and Integra further agreed to, conditional upon closing of the Transaction, amend the terms of the Credit Agreement to provide for the following: (i) subject to TSX-V approval, modify the conversion price on the initial advance of $10 million (the "Initial Advance") from C$2.3625 (post-consolidation price) per Integra common share (the "Common Share") to a 25% premium to the Issue Price (as defined above), being C$1.6875; (ii) extension of the maturity date of the Credit 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 October 31, 2024 to December 31, 2024; (iv) modification of the make-whole fee from the amount of interest Integra would have paid had the Convertible Facility continued for 36 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. Integra will also request to draw a second advance on the Convertible Facility in the principal amount of $5 million (the "Subsequent Advance") immediately following completion of the Transaction, with a conversion price equal to a 25% premium to the Issue Price. In the event that the amendment to the conversion price of the Initial Advance does not receive regulatory approval, Integra and Beedie Capital have agreed to a downward adjustment to the aforementioned premium in respect of the conversion price of the Subsequent Advance which would result in Beedie Capital receiving up to the same aggregate number of Integra Shares that Beedie Capital otherwise would have been entitled to receive upon conversion in full of the Initial Advance and Subsequent Advance had the conversion price of the Initial Advance been amended to equal a 25% premium to the Issue Price.

Wheaton Precious Metals 2nd Installment

The Company announced on July 12, 2024 that following the satisfaction of certain closing conditions, it has received the final cash installment of $4.875 million in connection with the previously announced royalty transaction between its wholly-owned subsidiary, DeLamar Mining Company, and Wheaton Precious Metals (Cayman) Co., a wholly-owned subsidiary of Wheaton Precious Metals Corp. ("Wheaton"). Wheaton acquired a 1.5% net smelter returns royalty on metal production from all claims of the DeLamar and Florida Mountain Deposit for an aggregate cash purchase price of US$9.75 million, paid in two installments. Integra received the first installment of $4.875 million on March 7, 2024.

The net proceeds from the Transaction will be used for the continued development of DeLamar, including work to support a Feasibility Study and the advancement of the National Environmental Policy Act permitting process in the United States.

Annual General Meeting

The Company held its Annual General Meeting of shareholders ("AGM") on June 21, 2024. A total of 41,654,580 common shares have been voted, representing 47.1% of the Company's outstanding shares. All of the directors were re-elected, and all other resolutions were approved by the Company's shareholders.

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MANAGEMENT'S DISCUSSION & ANALYSIS

For the Three and Six-Month Periods Ended June 30, 2024 and 2023

DELAMAR PROJECT

Significant efforts were made to advance the feasibility study, especially to support the metallurgical results. The team is working on a "geo-metallurgical" model, incorporating knowledge from both geologists and metallurgists.

The geotechnical feasibility analysis was initiated in January and continued through out the quarter. Lab analyses were completed for most samples and rock mass characterization was commenced. Rigorous actions toward strategic mine planning, involving third party consultants including Whittle Consulting Inc., Respec and Forte Dynamic, are being conducted to generate a robust mine plan that ease execution, reduce technical, financial and execution risks and maximize project value. Discussions with major mining fleet manufacturers are being conducted to identify the innovative options available to the DeLamar Project.

Metallurgical test work and trade-off reviews continued through the 2nd quarter. An extensive permeability test campaign was conducted which yielded a blending strategy allowing the elimination of the agglomeration stage. Column, vat, and bottle rolls recovery and diagnostic tests will continue into the 3rd quarter. The trade-off review of truck haulage versus railveyor haulage concluded with the economic decision to remove the railveyor from the mine plan. A trade-off review of stacking methods, truck stack versus conveyor stack was conducted. The most economical and practical stacking option is currently a hybrid plan using trucks to stack the first two or three lifts followed by conveyor stacking for the remainder. The heap will be constructed in two separate stages. A smaller upper stage followed by a second lower stage that carries the bulk of the construction cost introduced in year four of the mine plan. Evaluations began to look at facility locations to confirm the most economical and constructable locations to include in the plan. The Company anticipates conclusions in the 3rd quarter. Solicitations for equipment and reagent costs have been sent to vendors to feed into capital expenditures and operating expenditures cost estimates.

Integra continues to coordinate monthly meetings with permitting agencies such as the Bureau of Land ("BLM"), Idaho Department of Environmental Quality ("IDEQ"), Idaho Department of Water Resources ("IDWR"), U.S. Army Corps of Engineers ("USACE"), and the third party National Environmental Policy Act ("NEPA") firm.

The Company submitted a revised MPO to the BLM in April and received a sufficiency determination from the BLM in May. The MPO sufficiency determination allows the mine plan to advance into the environmental review process as required by the NEPA. Primary critical path items continue to included development rock storage facilities ("DRSF") locations and configurations, and adding mine support features like growth media stockpiles and surface water runoff capture and storage facilities. Continued effort was placed on reclamation and closure. Integra continued its primary focus on the updated MPO to incorporate answers to initial BLM comments, including planning, source term modeling of groundwater conditions for mining and closure, backfill sequencing for closure, site wide water balance and sources of makeup water for mine operations. Integra is refining the surface water and groundwater adaptive water management plan strategy for effective water usage during operations. Integra completed the Q2 surface water and groundwater sampling event.

NEVADA NORTH PROJECT

The exploration team continue working on the planning and scoping for the upcoming 2024 Wildcat drilling program, with a focus on detail drilling campaign logistics and contractor selection. The drilling started on June 4th, and approximately 890 meters were drilled in June. No assay results have been received yet, and more information about the drilling program will be disclosed in late Q3 or during Q4.

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MANAGEMENT'S DISCUSSION & ANALYSIS

For the Three and Six-Month Periods Ended June 30, 2024 and 2023

Additional progress was achieved on the Wildcat Exploration Plan of Operations as the public comment period was initiated for the Project's environmental assessment, as required by NEPA. Completion of the Wildcat Environmental Assessment is anticipated by the end of the year.

OTHER PROJECTS

The Company announced on June 12, 2024 that Millennial Silver Nevada Inc. ("MSN"), a wholly-owned subsidiary of Integra, has entered into an option agreement (the "Option Agreement") dated June 11, 2024 with GreenLight Metals USA Corporation, a wholly-owned subsidiary of Green Light Metals Inc. ("GreenLight"), regarding the Cerro Colorado Property.

Pursuant to the terms of the Option Agreement, MSN granted GreenLight an exclusive option to purchase its interests in Millennial Arizona for a period of 12 months. In consideration for the grant of the option, GreenLight has agreed to deliver common shares of the company valued at no less than C$500,000 to Integra. The shares will be paid in two tranches: (i) the first tranche of shares, valued at no less than C$250,000, will be delivered within five days of the execution of the Option Agreement (received); and (ii) the second tranche of shares, valued at no less than C$250,000, will be delivered at the earlier of: 1) the time of a GreenLight go-public event, or 2) December 31, 2024. In order to exercise the option and acquire the interests in Millennial Arizona, GreenLight will pay Integra in cash or common shares of GreenLight, an amount equal to the total 2024 Cerro Colorado holding costs (other than exploration expenditures) incurred by Integra under the preexisting option through the closing date.

EXTERNAL AFFAIRS, SAFETY, ENVIRONMENTAL AND LAND

In Q2 2024, the External Affairs team engaged with over 5,000 stakeholders, with primary categories including community stakeholders, Tribal Nations, government/elected officials, and civic/non-profit organizations. In Idaho, the 3 months ending June 30th saw Integra involved with numerous community events including town hall meetings in Jordan Valley and Marsing, collaborative projects, and various initiatives advancing relationships with stakeholders. The team also met with Idaho's congressional delegation in Washington DC, as Integra advances towards NEPA and works to make the public aware of Integra's projects and the proposed pathway forward. In Nevada, several meetings with local elected officials and community groups were held, discussing the Nevada North Project and various exploration and permitting work plans underway. The External Affairs team remains focused on efforts that support the Company as it navigates permitting objectives on various fronts.

Integra DeLamar crews are experiencing a successful second quarter in 2024. There have been eight reported minor near-miss incidents, with no major or recordable incidents to date. The site's Total Recordable Injury Frequency Rate ("TRIFR") stands at 0.0 as of the end of Q2. The proactive reporting of near-misses and a sustained focus on safety have been instrumental in fostering a strong safety culture at the DeLamar site.

In addition to safety initiatives, Integra has continued its reclamation efforts and received positive feedback from the BLM regarding the activities completed in 2024. Site crews effectively managed a higher-than-normal spring melt and successfully initiated the Land Application Treatment ("LAT") for the 2024 season, while also addressing upland water management tasks.

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MANAGEMENT'S DISCUSSION & ANALYSIS

For the Three and Six-Month Periods Ended June 30, 2024 and 2023

2024 OUTLOOK

DeLamar Project

Feasibility Study

A feasibility study on the heap leach project which will include the mineralized stockpiles is expected in Q4 2024. The feasibility study will incorporate multiple trade-off studies as well as detailed capital and operating expense analysis. The Company has also engaged Whittle Consulting Pty Ltd. to further optimize the strategic mine plan and economical outcome through maximizing mining and processing efficiencies.

Permitting

The Company submitted its Draft MPO to the BLM in April 2024. The BLM deemed the MPO sufficient to progress toward the Notice to Intent ("NOI"). The BLM has indicated that a scope freeze on the MPO will be required in Q3 2024 prior to their submission of the NOI for approvals through the various levels of government. Following the final approval of the NOI, the Draft Environmental Impact Statement ("DEIS") process will commence.

During the DEIS portion of the National Environmental Policy Act ("NEPA") permitting process, the BLM will initiate a scoping period during which the BLM will conduct a more formal analysis on the environmental impacts proposed by the MPO at DeLamar.

Nevada North Project

The first phase of the 2024 exploration program at Wildcat is expected to be approximately 2,000 meters and will test the high-grade breccia targets, as well as focus on oxide expansion at several new mineralized targets outside the Preliminary Economic Assessment ("PEA") pit area. The drilling activities started on June 4th, and approximately 890 meters were drilled in June. No assay results have been received yet, and more information about the drilling program will be disclosed in the second half of 2024.

Most of the holes drilled during June 2024 were targeting deep geophysical anomalies buried below the post- mineralization basalts (between 500 and 1,500 meters north of the Main Hill PEA pit). The Rhyolitic Tuff (the main mineralization host of Wildcat Deposit resources) was successfully intersected below the basalts, and significant amounts of clay and silicification alteration, as well as some hydrothermal breccia and veins (ranging from 1 to 30 cm), were encountered. These intersects validate the company's hypothesis that more mineralization might be occurring below the post-mineralization basalts. The holes intersected a large amount of altered material (clays), as well as some hydrothermal breccias, both indicators of significant hydrothermal activity. Drilling assay results expected in late Q3 or Q4 will indicate if these fluids were gold-bearing.

The next portion of the drilling program will target specific metallurgical and geotechnical areas at Wildcat. These drill holes will provide additional material to confirm and improve some of the assumptions used in the PEA. A few additional exploration holes will target potential PEA pit extensions west of Main Hill (Rhyolitic Ridge target).

Merger with Florida Canyon Gold Inc.

The Transaction (as described in the "Q2 2024 In Review and Recent Events" section above) is expected to close in Q4 2024.

The merger between FCGI and Integra creates a growth focused gold and silver producer in the Great Basin, providing balanced and transformational benefits to shareholders of both Integra and FCGI. The Transaction is strategically aligned with Integra's long-term vision of becoming a leading US based mid-tiergold-silver producer and generating

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MANAGEMENT'S DISCUSSION & ANALYSIS

For the Three and Six-Month Periods Ended June 30, 2024 and 2023

significant value for all shareholders and stakeholders. Following completion of the Transaction, Integra will hold a diversified and tactically sequenced portfolio of gold-silver production and development assets, all within the top tier mining jurisdiction of the Great Basin. Currently cash flowing Florida Canyon will serve as the foundational production asset, underpinned by two high-quality development projects in DeLamar and Nevada North. The combined portfolio provides a pathway for Integra to materially grow its production profile and become a mid-tier producer with the potential to deliver over 250kozs AuEq per annum from a top tier mining jurisdiction at a competitive all-in sustaining cost ("AISC").

PROPERTIES

The Company's flagship projects are the gold-silver DeLamar Project (comprised of the DeLamar and Florida Mountain deposits), and the gold Nevada North Project (comprised of the Wildcat and Mountain View deposits). The Company also holds a portfolio of highly prospective early-stage exploration projects in Idaho, Nevada and Arizona.

Idaho (all gold-silver projects):

DeLamar Project - Development stage

BlackSheep District - Exploration

War Eagle Property - Exploration

Nevada (all gold projects):

Nevada North Project -Exploration/ Development stage

Red Canyon Property - Exploration

Ocelot Property - Exploration

Marr Property - Exploration

Eden Property - Exploration

Dune Property - Exploration

Arizona (copper project):

Cerro Colorado Property - Exploration

1. DeLamar Project, Idaho

The DeLamar Project consists of the neighboring DeLamar deposit and Florida Mountain deposit.

The bulk of the information in this section is derived from the "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

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MANAGEMENT'S DISCUSSION & ANALYSIS

For the Three and Six-Month Periods Ended June 30, 2024 and 2023

(the "DeLamar Report"). The DeLamar Report is available for review under the Company's issuer profile on SEDAR+ at www.sedarplus.ca.

The DeLamar Report also includes the results of a pre-feasibility study ("PFS") and mineral reserve statement on the DeLamar Project previously included in the National Instrument 43-101 - Standards of Disclosure for Mineral Projects ( "NI 43-101") technical report titled "Technical Report and Preliminary Feasibility Study for the DeLamar and Florida Mountain Gold - Silver Project, Owyhee County, Idaho, USA" dated March 22, 2022 with an effective date of January 24, 2022. The results of the PFS and the mineral reserve statement included therein and reproduced in the DeLamar Report remain unaffected by the updated mineral resource included in the DeLamar Report. The PFS and mineral reserve statement have an effective date of January 24, 2022. Sections 15, 16, 17, 18, 19, 21, 22, 23, and 24 have been reproduced in the DeLamar Report and have an effective date of January 24, 2022.

Mineral Resources and Reserves

Mineral Resource Estimate

Mineral resources have been estimated for both the Florida Mountain and DeLamar deposit areas of the DeLamar project.

Total DeLamar Project Gold and Silver Resources

Notes:

1. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
2. In-situoxide and mixed and all stockpile mineral resources are reported at a 0.17 and 0.1 g AuEq/t cut-off, respectively, in consideration of potential open-pit mining and heap-leach processing.
3. Non-oxidemineral 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.
4. The mineral resources are constrained by pit optimizations.
5. Gold equivalent grades were calculated using the metal prices and recoveries presented in Table 14.18 and Table 14.19 of the DeLamar Report.

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