Integra Resources Announces Closing of Oversubscribed Bought Deal Financing

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Press Release Highlights:

• Common share no-warrant offering was oversubscribed, with a number of prominent North American and European institutional investors as well as a strong retail investor component participating
  
  
• Over-allotment option exercised in full, for aggregate gross proceeds of $11,500,000 for the bought deal financing, combined with proceeds of $5,494,080 from the recently closed non-brokered private placement, for a total of $16,994,080 raised
  

TORONTO, Nov. 06, 2018 - Integra Resources Corp. (“Integra” or the “Company”) (TSX-V:ITR; OTCQX:IRRZF) is pleased to announce that it has closed its previously announced bought deal financing, including the exercise in full of the underwriters’ over-allotment option. A total of 14,375,000 common shares (the “Common Shares”) of the Company were sold at a price of $0.80 per Common Share, for aggregate gross proceeds of $11,500,000 (the “Offering”).

The Company plans to use the net proceeds from the Offering to fund exploration and development expenditures at the DeLamar Project and for general corporate purposes.

George Salamis, President and CEO of Integra Resources commented, “Given the difficult market conditions currently facing companies in the mining sector, we are extremely pleased with the investor demand shown in this recent financing, completing a financing with no warrants and at a minimal discount to the market share price. We are very happy to have added a new group of shareholders to our share registry, highlighted by the addition of several prominent European and North American institutional funds and large retail investors.” Mr. Salamis continued, “Integra has enjoyed a very successful 2018 on the exploration front, and we are keen to build on the momentum from our first exploration program at DeLamar as we look to grow the current inferred gold-silver resource in Idaho and explore new areas of the highly prospective DeLamar district.”

The Offering was made through a syndicate of underwriters led by Raymond James Ltd., including PI Financial Corp., BMO Capital Markets, and GMP Securities L.P. (the “Underwriters”). The Underwriters received a cash commission equal to 6% of the gross proceeds of the Offering (other than from the issue and sale of the Common Shares to certain purchasers on a president’s list, for which a 3% cash commission was paid). The Offering was completed by way of a short form prospectus filed in all of the provinces and territories of Canada, except Québec, and offered and sold elsewhere outside of Canada on a private placement basis. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an applicable exemption therefrom. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Integra Resources

Integra Resources Corp. is a development-stage company engaged in the acquisition, exploration and development of mineral properties in the Americas. The primary focus of the Company is advancement of its DeLamar Project, consisting of the neighbouring DeLamar and Florida Mountain Gold and Silver Deposits in the heart of the historic Owyhee County mining district in south western Idaho. The first exploration program in over 25 years is currently underway on the DeLamar Project with more than 20,000 meters planned for 2018. The management team comprises the former executive team from Integra Gold Corp.

ON BEHALF OF THE BOARD OF DIRECTORS

George Salamis

President, CEO and Director

Forward looking and other cautionary statements

This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news release includes statements regarding the use of proceeds from the Offering. Such forward-looking information is often, but not always, identified by the use of words and phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company’s business, the Company’s formative stage of development and the Company’s financial position.

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

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.

1050 – 400 Burrard Street
Vancouver, British Columbia, Canada
V6C 3A6
Email: chris@integraresources.com