Integra Gold Corp.
TSX VENTURE : ICG

Integra Gold Corp.

November 10, 2011 08:30 ET

Integra Gold Drilling and Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 10, 2011) - INTEGRA GOLD CORP. (TSX VENTURE:ICG) -

  • 21 of 31 planned drill holes completed on Parallel Vein
  • Vein 6 drilling completed and core re-sampled and being re-assayed
  • Mylamaque core re-sampled and being re-assayed
  • SRK Consulting contracted to assess Lamaque Gold Project
  • Resource update release imminent

INTEGRA GOLD CORP. (the "Company") is pleased to announce that the 28,000 meter drill program on the Lamaque Gold Project located in Val d'Or, Quebec, is proceeding according to plan and is on time and within budget. The Company continues to adjust its exploration program as drill results come in and resource estimates are being prepared.

"The progress that has been taking place is encouraging for the Company and our shareholders. The drill program continues to point the way forward and verifies our geological program. Our contract with SRK Consulting will give us invaluable insight as to what additional steps need to be undertaken prior to beginning pre-feasibility studies. It is reassuring to know that Integra's Lamaque Gold Project is on track, on schedule, on budget, and that we can look forward to the impending updated resource estimate," stated John de Jong, CEO and President.

Parallel Vein

Twenty-one of thirty-one planned holes announced on October 17, 2011, have been completed on this exploration segment with the intent to:

Purpose Number Length
Verify possibility of open pit access to mineralization 21 DDH Short
Verify zone or vein repetition 4 DDH Long
Increase density of information(minimum 30 meter spacing) 6 DDH Long

The Company's most recent NI 43-101 Mineral Resource Estimate released in June, 2011 reported the following results on the Parallel Zone.

Tonnes Grade Ounces (troy ) Category
659,959 4.80 g/t Au 101,794 Indicated
211,484 1.72 g/t Au 11,681 Inferred

The 31 additional holes being drilled on the Parallel Zone will allow for a higher level of confidence and possible expansion of the existing resources and category. This drill program has been designed to verify the possibility of open pit mining and the prospect of access to other zones on the Gold Project. Gold mineralization as previously reported included, 54.31 g/T gold over 6.00 m; 16.63 g/T gold over 5.00m; 14.99 g/T gold over 8.50 m and 10.55 g/t gold on 4.50m. (Please refer to the October 17, 2011, news release for additional information).

To view a map highlighting the Parallel Zone please click on the following link: http://www.brmstatpack.com/lt/1005/1207/parallel-zone-insert-map

Vein #6

Six drill holes were completed in mid-October, complimenting previous drilling. This zone contains historical inferred resources of 23,400 ounces consisting of 117,000 short tons at .20 ounces per ton (Blecha June 3, 1986). A total of 528 core samples and 24 re-samples have been taken and sent to the ALS Laboratory in Val d'Or, Quebec. Assay results for all drill holes have been received; however re-assays are still pending on holes 2, 3, 5 and 6.

Drill Hole #1

Hole # From (m ) To (m ) Length (m ) Sample # Au g/Mt Average
V6-11-01 113.00 114.00 1.00 J211976 8.65

5.51 g/T Au / 5.00m

V6-11-01 114.00 115.00 1.00 J211977 12.55
V6-11-01 115.00 116.00 1.00 J211978 3.11
V6-11-01 116.00 117.00 1.00 J211979 0.902
V6-11-01 117.00 118.00 1.00 J211980 2.32
V6-11-01 191.00 192.00 1.00 L206507 1.55 1.55 g/T Au / 1.00m

Drill Hole # 4

Hole # From (m ) To (m ) Length (m ) Sample # Au g/Mt Average
V6-11-04 93.00 94.00 1.00 L931776 3.89
V6-11-04 94.00 95.00 1.00 L931777 12.75 4.32g/T Au / 4.00m
V6-11-04 95.00 96.00 1.00 L931778 0.42
V6-11-04 96.00 97.00 1.00 L931779 0.22
V6-11-04 100.00 101.00 1.00 L931786 6.82 6.82 g/T Au / 1.00m
V6-11-04 145.00 146.00 1.00 L931808 1.08 1.08 g/T Au / 1.00m
V6-11-04 184.00 185.00 1.00 L931818 1.31 1.16 g/T Au / 2.00m
V6-11-04 185.00 186.00 1.00 L931819 1.02
V6-11-04 188.00 189.00 1.00 L931825 1.01 1.01 g/T Au / 1.00m

Mylamaque Zone

Drilling has been completed on this zone. All assays have been received however assay results of core samples from a number of holes indicated that mineralization extended to the outer limits of the submitted samples. Therefore thirty-seven additional core samples have been re-sampled and submitted for assay. A complete report of results for this zone will be released once all assays have been received and the information is compiled. The Company's plan to prepare a resource estimate for this zone will occur when all information has been compiled and validated.

SRK Consulting Contracted

SRK's Scope of Work, Execution Plan and Deliverables

The scope of work is to conduct a high level review of the exploration work completed to date and the exploration strategy deployed by Integra and their consultants on the Lamaque property. This review involves having an experienced geologist travel to Val-d'Or to meet with Integra and their exploration consultants and review the methodology, objectives and results of the exploration work completed on the Lamaque property. SRK will review future exploration strategy set forth by Integra for this asset to evaluate the future development potential of the zones of gold mineralization delineated on the property.

SRK will discuss the site visit findings with staff environmental and mine engineers to assess mine development plan options for each of the gold zones, in the context of the historical Lamaque mine and residual underground and surface infrastructures. The main deliverable of this assignment will be a technical memorandum that will summarize the work undertaken by SRK, the professional opinions about the exploration strategy and results, and comment on the mine development potential of the gold mineralization.

About SRK

As fully independent, specialized mining consultants, SRK have successfully guided numerous clients through all stages of project development, from grassroots exploration to definitive feasibility studies, as well as optimization of existing operations. SRK's global experience and reputation for excellence is widely recognized among the major financial institutions, and they are called upon to advise on and evaluate projects for all types of market transactions. Among SRK's 1500 clients are most of the world's major and medium-sized metal and industrial mineral mining houses, exploration companies, banks and government entities.

Their ability to draw upon the unique expertise of our 1,000+ professionals operating from 40+ offices on six continents make them highly flexible to provide focused advice and problem solving with services tailored specifically to the requirements of each assignment.

The SRK Group's independence is ensured by the fact that it holds no equity in any project. This independence permits the SRK Group to provide its clients with confidential, conflict-free and objective input to assist them in making informed decisions.

Falcon Point Capital Partners

Integra has entered into a contract with Falcon Point Capital Partners (www.falconpointcap.com), a communications firm specializing in investor relations, marketing solutions and capital services for publicly-traded companies. Falcon Point draws on over 40 years of investment, corporate communications, marketing, finance, and media experience to provide leading edge solutions that enhance the communications efforts of select companies.

Falcon Point has created www.InvestmentBC.com as its primary online platform to showcase select companies to the investment community. Through exposure on websites, blogs, newsletters, social media, online marketing, and direct contact with the investment community, Falcon Point programs are designed to improve Integra's positioning in a competitive marketplace by increasing awareness of the company and its core projects; by encouraging market engagement; and by cultivating strategic relationships.

The twelve month renewable contract includes payment of a monthly retainer for a minimum period of six months, cancellable with one month's notice by the Company during the second six months. Falcon Point will also receive 200,000 incentive share options at $0.285 for a period of seven years and a further 100,000 incentive share options priced at the close of market on April 30, 2012, upon extension of the contract.

Mr. Peter Kendrick, Senior Vice-President, has resigned his position to pursue other endeavors. The Company wishes him every future success and appreciated his commitment to Integra's success. Peter has offered to provide consulting services to Integra in the future, if and when required.

Company and Gold Project Location

Integra's Lamaque Gold Project is located in the Val d'Or gold camp in the Province of Quebec, Canada, which is rated one of the best mining jurisdictions in the world. Infrastructure, human resources and mining expertise is readily accessible.

The Company's shares are tightly held by several major private investors, institutions and a major gold producer, Shandong Gold International Mining Ltd. The Company's focus is to advance gold zones demonstrating potential for open pit mining and where gold resources can be added quickly to the reported gold resource of 2,114,742 metric tons, average grade 5.67 g/t gold for 385,656 ounces troy inferred and 659,959 metric tons, average grade 4.80 g/t gold for 101, 794 ounces troy indicated.

The gold project shares its northeastern border with the producing Sigma Mine which has produced 4.7 million ounces of gold to date and has reported significant gold resources and reserves. On its northwest border is the Main Plug which produced the majority of its 4.7 million ounces of gold for the historic Lamaque Mine. The Agnico-Eagle Goldex Mine located approximate 5 kilometers west reports reserves of 3.5 million gold ounces, and directly west of Goldex is the producing Osisko Mine reporting reserves of 15.9 million ounces of gold.

The Lamaque Property is located about 550 km northwest of Montréal, Quebec. The property consists of four (4) contiguous mining concessions and twenty (20) mining claims for a total of 1,459 hectares, owned 100% by Integra.

QUALITY ASSURANCE - QUALITY CONTROL

Thorough quality assurance and quality control program (QA/QC) protocol was utilized on the project including duplicate, blank and standard samples for all the holes. The core samples were respectively submitted directly to ALS Laboratory Group and Bourlamaque Labs in Val-d'Or for preparation and analysis. Analysis was conducted on 1 assay ton samples. Analysis of gold was by fire assay, with a gravimetric finish on samples exceeding 5 g/t gold. The gravimetric assay results were used for the reported composite intervals. The Lamaque project exploration is under the direct supervision of Alain Beauregard, P.Geol. of Geologica Inc., an independent qualified person as designated by National Instrument 43-101, who has reviewed the technical content of this release.

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This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. 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 state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.

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