Planned Paste Backfill System To Be Added At Golden Chest

Planned Paste Backfill System To Be Added At Golden Chest

COEUR D’ALENE, ID – Idaho Strategic Resources (IDR) has purchased the Butte Gulch property located next to the producing Golden Chest Mine. The Butte Gulch property is comprised of approximately 169 acres of private land and mineral rights located directly east and adjacent to the Golden Chest Mine. The Butte Gulch property was placer mined for gold as many as four separate times over its history, however, it is relatively unexplored for its lode deposit potential. In addition to the property’s proximity to IDR’s operations, mineralized gold veins have been reported on the property by prior operators (and observed by IDR geologists) indicating the potential to host additional lode gold deposits. Butte Gulch is also a strategic purchase for the Company due to its potential to serve as the future site for a shop and/or new milling facilities as Idaho Strategic continues to expand its operations in the greater Murray Gold Belt (MGB) district.

The 2024 plans include an increased focus in the MGB and enhanced production at the Golden Chest. The addition of Butte Gulch to Idaho Strategic’s district-scale Murray Gold Belt landholdings further demonstrates an emphasis on increasing IDR’s exploration efforts on locating additional mines within the Company’s property package. The Company also recently purchased around $1 million of equipment for the new mill tailings paste backfill system (to replace the current more expensive cemented rock backfill process). It is estimated that the addition of a paste backfill system will result in cost savings of approximately $20 per tonne of ore. Both the purchase of Butte Gulch and the paste backfill system are considered important components in the planning for and eventual operation of new milling facilities in the MGB.