Idaho Strategic Provides President's Letter to Stakeholders

COEUR D'ALENE, ID / ACCESSWIRE / May 6, 2024 / Idaho Strategic Resources, Inc. (NYSE American:IDR) ("IDR", "Idaho Strategic" or the "Company") is pleased to provide the following President's Letter to Stakeholders:

First and most importantly, I want to start by acknowledging the impressive first quarter results released today. And while some may be quick to attribute our results to the strong performance of the gold price during the quarter, I believe that would be a disservice to our mine and mill operations team, years of work and the fact that you must be present to win. It is true that the price of gold during the quarter had a very meaningful impact to our Company's financials, but the metric I find most impressive is the 80.6% increase in gold ounces produced compared to the same period in 2023. In short, our team at IDR has been firing on all cylinders. The miners and millwrights have put the ownness on the geologists to continue finding high-grade gold, which has put the ownness on me to provide our geologists with the exploration budget and resources that our team, and the Murray Gold Belt (MGB), have earned.

With Q2 underway, we are preparing for an extremely busy summer and fall. I expect our explorations efforts ahead of production at the Golden Chest to continue and our exploration of the greater MGB District to increase materially. I am also personally excited for our first ever drill program at our Eastern Star property planned for early June. Eastern Star is a property that I loaned the Company the money for in the early days; before we even had full ownership of the Golden Chest Mine. And while Eastern Star is a relatively underexplored and undeveloped project, it checks many of the boxes we look for - located on private land in Idaho within a historically productive mining district, historic ‘back of the napkin' resource estimates, and with high-grade gold at the surface.

In addition to the expected increase in exploration, is the planned construction of a paste backfill plant onsite at the Golden Chest. The paste backfill plant is something that our team has wanted for quite some time, and we expect it will result in both cost savings and greater overall operating efficiency. Additionally, the building that will be constructed to house the paste backfill plant is designed to be built large enough for a future mill, which is a key part of our overall plans for the greater MGB District.

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