Idaho Strategic Reports Record Operating and Financial Performance for 2024

About this update from Idaho Strategic Resources, Inc.

COEUR D'ALENE - Idaho Strategic Resources, Inc. (NYSE American:IDR) ('IDR', 'Idaho Strategic' or the 'Company') today announced its consolidated operating and financial results for the year ending December 31, 2024 . IDR achieved record annual gold production and financial performance during 2024. Key highlights include: Idaho Strategic's CEO and President, John Swallow stated, 'Hats off to our employees and stakeholders. It says a lot about a team that can follow-up the work that went into a pivotal year like 2023 - with a totally transformational year like 2024. To say we hit the ground running in 2024 is an understatement. We had record revenue and profit throughout the year, eliminated most of our debt, added cash (and treasury notes) to our balance sheet, invested considerably in operations and facilities at the Golden Chest, continued near-mine exploratory drilling throughout the year, replaced and added to reserves, and we are embarking on a 2025 that will most likely be the busiest year in company history. Again, congrats to all of our stakeholders for a great 2024 and we are looking forward to a prosperous 2025.' Golden Chest Highlights for 2024 Include: Produced a total of 11,915 ounces of gold contained in concentrates and dore. Mining was focused on the high-grade H-Vein at the Golden Chest mine. Mined 41,140 tonnes of ore from the H-Vein underground at the Golden Chest Mine at an average grade of 9.67 grams per tonne (gpt) gold and completed 215 meters of development on the MAR and 129 meters of drifting for an H-Vein exploration project. Additionally, over 600 meters of stope access ramps were completed during the year. Processed 41,140 dry metric tonnes at the Company's New Jersey Mill with an average gold head grade of 9.67 gpt and gold recovery of 92.8%. Completed 10,148 meters of core drilling at the Golden Chest to convert Paymaster Resources to Mineral Reserves and also completed exploration drilling primarily in the northern part of the property in the Klondike area which includes the Red Star zone. A highlight of the core drilling was hole GC24-265 which intercepted 50.9 gpt gold over 4.5 meters in the newly discovered Red Star zone. Rare Earth Highlights for 2024 include: Idaho Strategic's CEO and President, John Swallow , was invited by members from the U.S. Department of Energy to speak at the Future Needs for Responsible Mining of Critical Minerals workshop in January 2024 . Attended the Adamas Rare Earth Mines, Magnets and Motors Conference in Toronto, Canada . Attended the International Rare Earth Elements Conference in Washington DC . Continued discussions with various laboratories, universities, and partners to advance the understanding of Idaho's rare earth mineralogy and broader mineral endowment. Mr. Swallow concluded, 'Last year I commented that 'I believe our overall business plan is being validated amongst a broadening array of stakeholders within and outside of the sector' - little did I know how true that statement would prove to be. In my opinion, the potential gravity from this shift is only beginning to be understood. From our experience, this feels like the start of the next era of asset analysis and portfolio allocation as more and more groups seem to be viewing gold (and other commodities) as a component of both domestic and global diversification. In addition, from the discussions we have had, it appears that there are financial models showing overall market weakness and this has some groups looking for more specific exposure in areas (and portfolio structures) not typically looked at. In short, we are seeing more specificity and thoughtfulness than ever before in our incoming inquiries and meeting discussions. We won't know for sure what all of this means until we are looking back on it in hindsight, however we are more constructive on our business plan than ever before.' About Idaho Strategic Resources, Inc. Idaho Strategic Resources (IDR) is an Idaho -based gold producer which also owns the largest rare earth elements land package in the United States . The Company's business plan was established in anticipation of today's volatile geopolitical and macroeconomic environment. IDR finds itself in a unique position as the only publicly traded company with growing gold production and significant blue-sky potential for rare earth elements exploration and development in one Company. Contact: Travis Swallow Investor Relations & Corporate Development Tel: (208) 625-9001 Email: [email protected] (C) 2025 Electronic News Publishing, source ENP Newswire

View stock analysis, news, and events for Idaho Strategic Resources, Inc.