Integra Gold Corp.
TSX VENTURE : ICG

Integra Gold Corp.

May 12, 2011 09:00 ET

Integra Gold Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 12, 2011) - Integra Gold Corp. (TSX VENTURE:ICG) (Integra or the "Company") is pleased to provide this update of drill programs and plans, assay results, property management and the scheduling of the NI 43-101 resource update on Lamaque Gold Project.

Recent Drill Assay Highlights

A small representation of some of the assay highlights for drilling completed in late 2010 and first four months of 2011 are as follows:

  • Parallel Zone 54.31 g/t gold over 6 meters, 45.88 g/t over 1.02 m, 30.08 g/t over 1.72 m, 21.48 g/t over 2.77 m, 16.63 g/t over 5 m. 14.99 g/t over 8.5 m, (News Release Jan 13, 2011)
  • Forestel Zone 31.18 g/t gold over 1.4 meters, 23.19 g/t over 2 m, 19.4 g/t gold over 2.9 m (News Release February 8, 2011)
  • Sigma Zone(New Discovery) 23.00 g/t gold over 1.4 meters (NR March 3, 2011)
  • Sixteen Zone 12.61 g/t gold over 6.5 meters and 8.71 g/t over 4.43 meters within a 25 meter section. (NR March 23, 2011)
  • No. 5 Plug 14.74 g/t gold over 3.47 meters (NR April 5, 2011)
  • Triangle Zone 36.55 m/t gold over 4.51 meters, 15.05 g/t Au over 1.79 m. (NR April 26, 2011)

As each hole is drilled off in a particular zone, geological reassessments are undertaken to determine the best course of action for that zone and possibly adjacent zones. To view a map of the different geological zones, please click on the following link: http://www.brmstatpack.com/lt/1005/1167/lamaque-geological-zones---marketwire

NI 43-101

The Company has been advised that the resource report update being prepared on its behalf by two separate and independent geological firms will be ready prior to the end of Q2, as the bulk of the technical data analysis has now been completed. The Company will release the report once received. In part, this report will:

  • include an updated resource calculation;
  • provide geological reference to work that has been completed;
  • provide recommendations designed to bring the Lamaque Gold Project closer to production;
  • identify additional gold zones to be added to the resource calculation within this calendar year and in 2012;
  • identify non-compliant NI 43-101 gold zones that require additional drilling and compilation to make them NI 43-101 compliant; and
  • Identify other geological initiatives relating to exploration of unexplored areas of the project.

President's Message

"Integra continues to carry out its focussed exploration and project development program that is specifically designed to advance the Company toward its desired goal of production. Coupled with sound geological processes is the need to continually embrace business and financial strategies that will allow the Company to move forward more quickly.

The Lamaque project is located in the Valley of Gold, immediately surrounded by properties and projects that have produced in excess of 9.5 million ounces of gold with reported reserves and resources of 5.5 million ounces of gold* still to be mined."

*(Century Mining Reserves and Resources Update June 2009)

2011 Drill Program

The Company's planned drill program of 20,000 meters is well on its way toward meeting that target and may be expanded further. Six holes have been drilled on the Forestel Zone, nine completed on the Triangle Zone and six holes have been completed of seventeen holes planned for the Mylamaque Zone. Dependant on the recommendations provided by the pending NI 43-101 report, additional drilling may take place on the Forestel and Parallel Zones and also the other remaining nine zones (excluding the Triangle and Mylamaque Zones as their programs have been completed for this season). Drilling will be directed towards the zone(s) demonstrating the greatest likelihood to lead the charge towards early production.

Assays for Triangle Zone holes six to nine and the first six holes at Mylamaque are expected shortly and will be released when received.

As the Lamaque Gold Project is located in the Province of Quebec, the second best mining jurisdiction in the world, Integra receives a Quebec mining refund of approximately 35% of all exploration expenditures. This refund will be applied to future drilling on the Lamaque Gold Project.

Focus for 2011

Upon the release of the pending NI 43-101 compliant resource estimate, management will review all of the information presented and develop a plan for further exploration predicated on the following:

  • The ability to enhance the gold ounces inventory from Inferred to Measured and Indicated (M&I);
  • Being able to add to the gold resource inventory through strategic infill drilling of known zones that demonstrate the highest potential for increase;
  • The immediate need for exploratory drilling designed to expand limits of existing zones and
  • The likelihood of addition discoveries if exploratory drilling of areas of interest between zones was to be initiated.

Val d'Or Sub-Office

The Company has recently purchased a sub-office in Val d'Or, which management, Company personnel and service providers will utilize to carry out Company business. The office has attached living quarters which will help reduce the costs of living-out accommodations.

World Investment Resource Conference June 5 & 6, 2011 – Vancouver, BC

The Company wishes to invite all of its investors and interested persons to the Investment Conference to be held at the Convention Centre in downtown Vancouver. Management and other Company personnel will be at Booth 1214 to answer any questions you may have. Updated information will be available at that time.

Launch of Integra's Social Media Program

The Company has retained the services of RBL Communications ("RBL") (http://rblcommunications.com) to implement and manage a complete social media program. The program is designed to provide Integra with a greater online presence, as well as improved investor communication and branding.

Effective immediately, investors can access and join the following Integra social media channels:

The Integra social media program will allow for near real-time distribution of Integra news, updates, interviews, and media as well as provide investors with a brand new platform to stay current and up to date on the latest Company developments.

The Integra Micro Site

Effective immediately, a fully customized Integra Micro Site is available at http://rblcommunications.com/integra.html. The micro site is updated in near real-time and provides a comprehensive snapshot of all relevant information on Integra. The micro site also allows investors to sign up to the Integra e-mail list as well as a dedicated Integra RSS feed.

Management Costs and Expenses

Management is committed and focused towards advancing Integra's projects and creating value for the shareholder. Please refer to the most recently released Company MD &A and Financial Statements for further information.

Additional Property Acquisitions

The Company is interested in expanding its land position in the Val d'Or Valley of Gold and is therefore making appropriate enquiries. While the Company's focus is solely on the Lamaque Gold Project in Quebec, management is open to considering other properties in Canada that demonstrate gold potential and can be acquired at a reasonable cost and with good terms. Therefore, subject to regulatory approval, the Company will be acquiring a 100% interest in two gold properties, the Char (1060 ha) and Knapp (735 ha), located in southeastern British Columbia. Consideration for each of the properties is $20,000 and 80,000 shares all payable over a period of three years. Work programs of $10,000 (Char) and $12,000 (Knapp) will be completed within 12 months. There is no NSR on either property.

LAMAQUE GOLD PROJECT

The Lamaque property is in the Val d'Or Gold Camp immediately adjacent to both the Sigma and Lamaque mines, which together have produced approximately 9.5 million ounces of gold. The current inferred gold resource at Lamaque property is 375,375 gold ounces (1,238,308 tonne at 9.43 g/t gold) according to Watts, Griffis and McOuat 43-101 report. (Sedar October 20, 2004). The current gold mineralized vein-system, indicated through drilling, is speared over an area that is 4,000m in strike length, 2900m wide and open at depth.

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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