SOURCE: Integra Gold Corp.

Integra Gold Corp

February 20, 2015 16:26 ET

Integra Gold Appoints Charles Oliver to Board of Directors

VANCOUVER, BC--(Marketwired - February 20, 2015) - Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF) ("Integra" or the "Company") is pleased to announce the appointment of Charles Oliver to the Company's Board of Directors. 

Mr. Oliver is a geologist who most recently held the position of Lead Portfolio Manager for the Sprott Gold and Precious Minerals Fund. Prior to his role at Sprott Asset Management, Mr. Oliver was a Senior Vice President and Lead Portfolio Manager at AGF Funds. During his 11 year tenure at AGF Funds, Mr. Oliver managed a variety of funds, including the Precious Metals Fund, Canadian Resources Fund, Global Resources Fund, Growth Equity Fund and Markland Oilsands Sector Fund. Mr. Oliver earned his BSc in Geology (Honours) from the University of Western Ontario and began his career as a field geologist in Québec before moving to Toronto to work as a trader and retail broker.

"The Company is excited that Charles Oliver will be joining the board. Charles has had an esteemed and successful career in the precious metals space, and it is testament to the Lamaque Project and the team in place at Integra that a person of Charles' calibre is joining the Company's board," noted Integra Chairman George Salamis. "Charles' extensive knowledge of the gold market, established network and exemplary reputation will be invaluable to the Company as it advances the Lamaque Project towards production."

In order to formalize a pay-for-performance culture and further strengthen the alignment between Company's insiders and shareholders, Integra also announces that a restricted share unit plan (the "RSU Plan") was approved by the Board of Directors, subject to approval by the TSX Venture Exchange ("TSXV") and ratification by the Company's disinterested shareholders at the 2015 Annual General Meeting of shareholders (the "AGM"). 

Subject to approval of the RSU Plan by the TSXV and ratification by disinterested shareholders at the AGM, 4,500,000 restricted share units ("RSUs") were issued to the Company's directors, officers and senior employees. The RSUs will vest as to 25% on the date of disinterested shareholder approval, and 25% on each of February 20, 2016, August 20, 2016 and February 20, 2017. Upon vesting, the RSUs may be subject to a statutory 4 month hold period.

Further details regarding both the RSU Plan and the awards made under such plan will be set out in the management information circular of the Company which will be made available to shareholders and filed on SEDAR in connection with the AGM.

Integra also announces that pursuant to its stock option plan, 5,575,000 incentive stock options exercisable at $0.30 per share for a period of seven years have been granted to directors, officers and employees of the Company.

Project and Company Profile

Integra's Lamaque South Gold Project and Sigma-Lamaque Mill and Mine Complex are located directly east from the city of Val-d'Or along the prolific Abitibi Greenstone belt in the Province of Québec, Canada, approximately 550 km northwest of Montréal. Québec is rated one of the best mining jurisdictions in the world. Infrastructure, human resources and mining expertise are readily available.

The Company's primary focus is on production planning for its high-grade Lamaque South project. The Lamaque South property is divided into three clusters, the North, South and West cluster. The primary targets are the high-grade Parallel Zone in the North Cluster and the Triangle Zone in the South Cluster. The acquired Sigma Mill, located 1 kilometer from the Parallel Zone and 3 kilometers from the Triangle Zone, is a fully-permitted, 2,200 ton per day mill and tailings facility. The Sigma-Lamaque Mill and Mine Complex include the historic Sigma and Lamaque Mines which operated for 75 and 52 years respectively and produced more than 9 million ounces of gold in total.

ON BEHALF OF THE BOARD OF DIRECTORS

Stephen de Jong
CEO & President

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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 news release.

Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release constitute forward-looking statements, including the results and timing of further exploration work on the property, the results and timing of further development studies, regulatory approvals, and other matters relating to the potential development of the Lamaque Project. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including availability of financial resources, that the Company is able to obtain any government or other regulatory approvals required to complete the planned exploration activities, that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis and other matters described in the Company's most recently completed MD&A. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

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