Idaho Strategic Reports 2023 Operating and Financial Performance

Highlighted by a 42.6% Increase in Revenue and First Full Year of Profitability

COEUR D'ALENE, ID / ACCESSWIRE / March 25, 2024 / Idaho Strategic Resources, Inc. (NYSE American:IDR) ("IDR", "Idaho Strategic" or the "Company") today announced its consolidated operating and financial results for the year ending December 31, 2023. IDR achieved a 42.6% increase in revenue and a 35.1% increase in gold production over 2022.

Idaho Strategic's CEO and President, John Swallow stated, "2023 proved to be a pivotal year for Idaho Strategic. At the end of 2022 we knew a year of blocking and tackling lay ahead and our team really delivered. Not only did we continue our track record of profitable gold production established in Q4 of 2022, but we also advanced our Golden Chest and critical minerals exploration efforts considerably. Looking beyond the operations, I believe our overall business plan is being validated amongst a broadening array of stakeholders within and outside of the sector. Throughout the year we gained knowledge, built relationships, and worked to expand exposure to those that typically invest elsewhere. The benefits of our production-backed exploration business plan are becoming evident amongst investors, local communities, national laboratories, and government agencies, where we are seeing increased attention given to our business approach and operating track record."

Golden Chest Highlights for 2023 Include:

• Produced a total of 8,247 ounces of gold contained in concentrates and dore'.
• Commenced mining of the high-grade H-Vein at the Golden Chest Mine.
• Mined 37,780 tonnes of ore from underground at the Golden Chest Mine at an average grade of 6.36 grams per tonne (gpt) and completed 135 meters of development related to the Main Access Ramp (MAR) and 435 meters of stope access ramps.
• Mined 2,350 tonnes of ore from the Jumbo pit at an average grade of 12.40 gpt gold.
• Processed 40,130 dry metric tonnes (dmt) at the Company's New Jersey Mill with an average gold head grade of 6.71 gpt and gold recovery of 92%.
• Completed approximately 3,740 meters of additional Golden Chest drilling.
• A highlight of the core drilling was GC-22-233 which intercepted 18.7 gpt gold over 2.24 meters in the H-Vein.
• Completed mining in the open pit and transitioned fulltime to underground production.

Rare Earth Highlights for 2023 include:

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