Integra Gold Corp fka ICG

[Edge83]

INTEGRA GOLD ANNOUNCES UPDATED PRELIMINARY ECONOMIC ASSESSMENT: PRE-TAX NPV OF C$602 M AND IRR OF 55% (AFTER-TAX NPV OF C$363 M AND IRR OF 43%) AT US$1,250 PER OUNCE OF GOLD

Feb 27, 2017
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Updated Preliminary Economic Assessment Highlights:

Average annual gold production for first full 8 years estimated at 135,000 ounces, average annual gold production for Life of Mine (“LOM”) estimated at 123,000 ounces, and total production of 1.3 M ounces, a 156% increase from the 2015 PEA
LOM cash cost of C$595/oz (US$458), all in sustaining cost (“AISC”) of C$824/oz (US$634) and fully loaded cost (AISC + initial capital expenditures) of C$933/oz (US$718)
Pre-production period of 18 months with pre-production capital (“Initial Capital”) requirement net of pre-production revenue of C$111 M (US$85 M) – Initial Capital excluding pre-production revenue of C$175 M (US$134 M)
VANCOUVER, BC: Integra Gold Corp. (TSX-V: ICG; OTCQX: ICGQF), (“Integra” or the “Company”) is pleased to announce the results from an updated Preliminary Economic Assessment (“PEA”) which includes resources from the Company’s Fall 2016 Resource Estimate (see news release dated November 16, 2016) for the Lamaque South Gold Project (“Lamaque”) in Val-d’Or, Québec. The PEA has been prepared in accordance with National Instrument 43-101 of the Canadian Securities Administrators (“NI 43-101”). The 2017 PEA incorporates many resource base, extraction design and mine plan improvements over the 2015 PEA and the updated financial projections indicate that Lamaque is a robust project at current gold prices. An underground exploration ramp to support a bulk-sampling program in Q3 2017 is currently underway at Lamaque with 658 meters (“m”) (1,049 m total) of development completed on the main ramp as of February 16, 2017.

The 2017 PEA was prepared by InnovExplo Inc. (“InnovExplo”). The study was conducted under the direction of Mr. Langis St-Pierre, P. Eng., Integra’s Chief Operating Officer, and Mr. Francois Chabot, P. Eng., Operations Manager, along with the Company’s entire operations team based in Val-d’Or, Québec. The study also included contributions from the geological and engineering teams at Geologica, GéoPointCom, Amec Foster Wheeler, and WSP Canada Inc.

A NI 43-101 Technical Report that summarizes the results of the PEA will be filed on Integra’s SEDAR profile at www.sedar.com within 45 days.

Economic & Operational Highlights:

The PEA is considered preliminary in nature. It includes inferred mineral resources that are considered too speculative to have the economic considerations applied that would enable classification as mineral reserves. There is no certainty that the conclusions within the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

PEA Overview:

https://www.integragold.com/news/2017/integra-gold-announces-updated-preliminary-economic-assessment-pre-tax-npv-of-c-602-m-and-irr-of-55-after-tax-npv-of-c-363-m/