Idaho Strategic Resources Inc (IDR)

Idaho Strategic Reports Record First Quarter 2026 Operating and Financial PerformanceMay 14, 2026 6:30 AM
Business Wire Highlighted by a 98.97% Increase in Revenue to $14,482,286 and Record Quarterly Net Income of $6,387,992 Idaho Strategic Resources, Inc. (NYSE American: IDR) (“IDR”, “Idaho Strategic” or the “Company”) today announced its consolidated operating and financial results for the first quarter ending March 31, 2026. Consistent with the Company’s business plan, IDR maintained its profitability while growing its gold production and reinvesting in near-mine exploration opportunities and capital projects on-site. During the quarter, the Company’s geology team finalized its plans for broader exploration work in the 2026 field season focused on both the Murray Gold Belt District and the Idaho Rare Earth Elements-Thorium Belt. Additionally, work continued on the construction of the Company’s new Murray Mill, with the completion of the paste backfill circuit and the start of foundation work for installation of the new ball mill. Operating and financial results for the first quarter include: Operational
Performance: Q1 2026 % Change Q1 2025 Ore Tonnes Processed 11,290 -0.47% 11,337 Average Flotation Feed Grade (gpt) 9.68   11.65% 8.67   Ounces Produced 3,234   11.52% 2,900   All-In Sustaining Cost Per Ounce ($USD) $1,868.07   30.55% $1,430.90   Financial
Performance ($USD): Q1 2026 % Change Q1 2025 Revenue $14,482,286   98.97% $7,278,536   Total Cost of Sales $4,917,388   37.34% $3,580,450   Gross Profit $9,564,898   158.64% $3,698,086   Net Income Attributable to IDR $6,387,992   297.02% $1,608,979   Earnings Per Share (EPS) $0.40   233.33% $0.12   Average Realized Gold Price $4,702.04   65.06% $2,848.74   During the quarter, Idaho Strategic capitalized approximately $960,713 of core drilling at the Golden Chest that informed mine planning and resource confidence largely related to the continued exploration of the Paymaster area; compared to $0 in the comparable period in 2025. Moving forward, it is anticipated that IDR will capitalize a portion of exploration expenses quarterly rather than annually. Management believes this procedural accounting change provides investors with a clearer picture of the Company’s financial performance throughout the year. Idaho Strategic’s President and CEO, John Swallow stated, “Our goal for the year was to build on a strong 2025 – and as evidenced in our record first quarter results, the team has met these expectations. From increased production to expanded exploration and drilling programs, our business plan is working as designed. In addition to the two drills dedicated to resource conversion and exploration drilling at the Golden Chest, permitting is in place for drill programs this year at two projects in the Murray Gold Belt (Little Baldy and Niagara) and at two of our REE prospects (Lucky Horseshoe at Lemhi Pass and Cardinal at Mineral Hill) near Salmon. "We are one of the few junior mining companies that put a mine into production when our industry was out of favor so that we could take advantage of opportunities when the tailwinds arrived. To that end, we followed up our acquisition of Hecla’s Toboggan landholdings in Q3 2025 with the execution of a long-term lease agreement on the nearby Niagara project during Q1 2026, adding potentially significant copper-silver exposure to the Company. Both of these additions were essential to consolidating the Murray Gold Belt District and provide the Company with high-quality exploration targets that will last many years into the future.” Golden Chest Highlights for Q1 2026 Include: Mined approximately 11,290 tonnes of ore from underground stopes on the H-Vein. Completed a total of 193 meters of development in the main access ramp (MAR) and associated workings including an escapeway/ventilation raise. A record total of 4,008 cubic meters of CRF backfill was placed during the quarter. Processed a total of 11,290 dry metric tonnes (“dmt”) at the Company’s New Jersey Mill with a flotation feed head grade of 9.68 gpt gold and gold recovery of 92.1%. Some long lead items for the Murray Mill were delivered such as a jaw crusher and a cone crusher, and additional underground mining equipment including two 4-yard LHDs were delivered to the mine during the first quarter. An exploration program consisting of surface and underground core drilling was continued during the first quarter at the Golden Chest. A total of 8,700 meters of drilling was completed at the Golden Chest targeting the Paymaster, Red Star, Katie-Dora, and the H-Vein. Rare Earth Highlights for Q1 2026 Include: Finalized exploration plans for the upcoming 2026 field season. The bulk of the Company’s REE exploration efforts are planned for high-grade prospects at both its Mineral Hill and Lemhi Pass projects. To support these programs, IDR has retained the support of seasoned REE exploration geologists familiar with the Company and its REE projects. Corporate Highlights for Q1 2026 Include: Executed a long-term lease on the Niagara copper-silver project located in the Murray Gold Belt District. The project hosts a historic inferred resource estimated to contain approximately 150 million pounds of copper and 8.8 million ounces of silver. Notes accompanying the financial statements below can be found in the Company’s quarterly report filed this morning with the SEC on EDGAR. Qualified person IDR’s Vice President, Grant A. Brackebusch, P.E. is a qualified person as such term is defined under S-K 1300 and has reviewed and approved the technical information and data included in this press release. About Idaho Strategic Resources, Inc. Idaho Strategic Resources (IDR) is an Idaho-based gold producer which also controls the largest rare earth elements land package in the United States. The Company’s production-backed exploration business plan was established in anticipation of today’s volatile geopolitical and macroeconomic environment. In addition to gold production, the Company has built a substantial land position in Idaho across multiple commodities, providing significant exploration exposure to gold and rare earth elements – in addition to thorium, copper, and silver. IDR finds itself in a unique position as one of the only publicly traded companies with growing gold production and significant blue-sky potential for discovery and development. For more information on Idaho Strategic Resources, please visit www.idahostrategic.com or call: Travis Swallow, Investor Relations & Corporate Development
Email: tswallow @GaryS   Idaho Strategic Resources, Inc. Condensed Consolidated Statements of Operations (Unaudited) For the Three-Month Periods Ended March 31, 2026 and 2025           March 31,     2026   2025       Revenue:     Sales of products, net $ 14,482,286   $ 7,278,536   Total revenue   14,482,286     7,278,536         Costs of Sales:     Cost of sales and other direct production costs   4,203,603     3,030,829   Depreciation and amortization   713,785     549,621   Total costs of sales   4,917,388     3,580,450         Gross profit   9,564,898     3,698,086         Other operating expenses:     Exploration   1,389,349     1,371,433   Management   189,643     264,745   Professional services   181,351     183,738   General and administrative   223,027     237,018   (Gain) loss on sale of equipment   (632 )   239,898   Total other operating expenses   1,982,738     2,296,832         Operating income   7,582,160     1,401,254         Other (income) expense:     Equity (income) loss on investment in Buckskin Gold and Silver, Inc.   168     (1,346 ) Loss on investment in equity securities and mutual funds   304,241     -   Timber revenue net of costs   (3,209 )   (3,856 ) Dividend income   (55,532 )   -   Interest income   (392,018 )   (185,395 ) Total other income   (146,350 )   (190,597 )       Income before income taxes   7,728,510     1,591,851   Income tax provision   1,359,320     -         Net income   6,369,190     1,591,851         Net loss attributable to non-controlling interest   (18,802 )   (17,128 ) Net income attributable to Idaho Strategic Resources, Inc. $ 6,387,992   $ 1,608,979         Net income per common share-basic $ 0.40   $ 0.12   Weighted average common share outstanding-basic   15,795,072     13,666,321   Net income per common share-diluted $ 0.40   $ 0.12   Weighted average common shares outstanding-diluted   15,976,298     13,735,770     Idaho Strategic Resources, Inc. Condensed Consolidated Balance Sheets (Unaudited)               March 31,
2026   December 31,
2025 ASSETS     Current assets:     Cash and cash equivalents $ 20,791,904   $ 9,889,765   Investments in US treasury notes   27,765,146     27,679,881   Investment in equity securities   -     4,129,521   Investment in mutual funds   -     3,957,497   Gold sales receivable   3,920,174     3,912,922   Inventories   1,233,751     965,112   Joint venture receivable   3,796     12,760   Other current assets   872,289     799,261   Total current assets   54,587,060     51,346,719         Property, plant and equipment, net of accumulated depreciation   21,735,741     19,503,962   Mineral properties, net of accumulated amortization   17,500,099     15,742,370   Investments in US treasury notes, non-current   27,894,995     27,651,843   Investment in Buckskin Gold and Silver, Inc.   344,914     345,082   Investment in joint venture   435,000     435,000   Reclamation bonds   355,220     355,220   Deposits   3,116,502     858,534   Total assets $ 125,969,531   $ 116,238,730         LIABILITIES AND STOCKHOLDERS’ EQUITY     Current liabilities:     Accounts payable and accrued expenses $ 1,676,476   $ 1,904,589   Accrued payroll and related payroll expenses   819,775     409,212   Notes payable, current portion   879,822     1,029,336   Income taxes payable   899,175     334,446   Total current liabilities   4,275,248     3,677,583         Asset retirement obligations   330,672     325,451   Notes payable, long term   1,143,678     1,302,048   Deferred income tax liabilities   886,291     91,700   Total long-term liabilities   2,360,641     1,719,199         Total liabilities   6,635,889     5,396,782     Stockholders’ equity:     Preferred stock, no par value, 1,000,000 shares authorized; no shares issued or outstanding   -     -   Common stock, no par value, 200,000,000 shares authorized; March 31, 2026-15,806,301 and December 31, 2025- 15,705,199 shares issued and outstanding   101,946,729     99,828,021   Retained earnings   14,729,713     8,341,721   Total Idaho Strategic Resources, Inc. stockholders’ equity   116,676,442     108,169,742   Non-controlling interest   2,657,200     2,672,206   Total stockholders' equity   119,333,642     110,841,948         Total liabilities and stockholders’ equity $ 125,969,531   $ 116,238,730   Forward Looking Statements This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that are intended to be covered by the safe harbor created by such sections. Often, but not always, forward-looking information can be identified by forward-looking words such as “intends”, “potential”, “believe”, “plans”, “expects”, “may”, “goal", “assume”, “estimate”, “anticipate”, and “will” or similar words suggesting future outcomes, or other expectations, beliefs, assumptions, intentions, or statements about future events or performance. Forward-looking information includes, but are not limited to, Idaho Strategic Resources’ potential to deliver Q2 2026 financial performance that is in-line, better, or worse than Q1 2026; the ability for the Company to maintain its profitability while continuing to invest in exploration and capex initiatives at the Golden Chest; the potential for the Company to complete all of its planned drilling and exploration activities during 2026; the potential for Niagara to be a potentially significant copper-silver project; the potential for the Company’s Murray Gold Belt landholdings to contain high-quality exploration targets for many years; and the potential for the Company’s buildout of the Murray Mill to continue without interruption. Forward-looking information is based on the opinions and estimates of Idaho Strategic Resources as of the date such information is provided and is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of IDR to be materially different from those expressed or implied by such forward-looking information. Investors should note that IDR’s claim as the largest rare earth elements landholder in the U.S. is based on the Company’s internal review of publicly available information regarding the rare earth landholdings of select companies within the U.S., which IDR is aware of. Investors are encouraged not to rely on IDR’s claim as the largest rare earth elements landholder in the U.S. while making investment decisions. The forward-looking statement information above, and those following are applicable to both this press release, as well as the links contained within this press release. With respect to the business of Idaho Strategic Resources, these risks and uncertainties include risks relating to widespread epidemics or pandemic outbreaks; interpretations or reinterpretations of geologic information; the accuracy of historic estimates; unfavorable exploration results; inability to obtain permits required for future exploration, development or production; general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices; the ability to obtain necessary future financing on acceptable terms; the ability to operate the Company’s projects; and risks associated with the mining industry such as economic factors (including future commodity prices, and energy prices), ground conditions, failure of plant, equipment, processes and transportation services to operate as anticipated, environmental risks, government regulation, actual results of current exploration and production activities, possible variations in ore grade or recovery rates, permitting timelines, capital and construction expenditures, reclamation activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Readers are cautioned not to place undue reliance on such information. Additional information regarding the factors that may cause actual results to differ materially from this forward-looking information is available in Idaho Strategic Resources filings with the SEC on EDGAR. IDR does not undertake any obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260514815184/en/ Travis Swallow, Investor Relations & Corporate Development
Email: tswallow @GaryS Original: Idaho Strategic Reports Record First Quarter 2026 Operating and Financial Performance

A Supply Crisis Is Brewing in the Metals That Power EverythingApril 29, 2026 10:15 AM
PR Newswire (US)

Issued on behalf of GoldHaven Resources Corp.USANewsGroup.com News Commentary VANCOUVER, BC, April 29, 2026 /PRNewswire/ -- Washington just confirmed what the market already suspected. A formal national security investigation found that America's dependence on imported critical minerals has become a direct threat to its defense and industrial base, and that no single Western country can fix the problem alone[1]. That finding landed while tungsten, one of the most strategically sensitive metals on Earth, was already in freefall on the supply side. Chinese export controls have drained Western inventories to critically low levels and sent processing prices from around $300 to over $1,775 per metric tonne unit in barely a year[2]. Five companies are now positioned across the metals at the center of this structural realignment: GoldHaven Resources (CSE: GOH) (OTCQB: GHVNF), Almonty Industries (NASDAQ: ALM) (TSX: AII), Idaho Strategic Resources (NYSE-A: IDR), Brixton Metals (TSXV: BBB) (OTCQX: BBBXF), and Kingfisher Metals (TSXV: KFR) (OTCQB: KGFMF).
The silver market tells the same story from a different angle. The Silver Institute's 2026 World Silver Survey confirms a sixth consecutive annual supply deficit, with cumulative shortfalls since 2021 now exceeding 800 million ounces as demand from electrification, AI infrastructure, and defense keeps pulling ahead of production[3]. Building a new mine takes an average of 17 years from discovery to first output, which means the only projects capable of delivering supply within the current deficit window are advanced explorers with near-term drill catalysts already in the pipeline[4].GoldHaven Resources (CSE: GOH) (OTCQB: GHVNF) has hired Dias Airborne Limited to fly a 1,741 line-kilometre high-resolution magnetic survey over its flagship Magno Project in northern British Columbia, with the program expected to launch in June 2026. The company also recently closed an oversubscribed flow-through financing totaling approximately $2.04 million to fully fund the upcoming drill campaign.It will be the first modern property-wide geophysical survey across the full Magno land package, which now spans more than 37,200 hectares after GoldHaven recently filed a technical report on three newly acquired mineral claims added to the Magno Project. The airborne program will scan the Magno Zone, Kuhn Zone, and D Zone at tight 100-metre line spacing, targeting corridors where surface sampling has returned silver grades up to 2,370 grams per tonne, tungsten up to 6,550 parts per million, and indium concentrations as high as 334 parts per million.GoldHaven selected Dias based on geological similarities between Magno and Hercules Metals' Leviathan discovery in Idaho, where the same QMAGT sensor platform helped identify concealed drill targets that led to discovery. The technology uses superconducting quantum interference device sensors to capture the full tensor of the Earth's magnetic field, delivering sharper resolution than conventional surveys. GoldHaven is also evaluating a follow-on ground-based 3D IP survey to refine subsurface targeting ahead of drill mobilization."This survey represents a major step forward in systematically unlocking the district-scale potential of Magno," said Rob Birmingham, CEO of GoldHaven. "By integrating modern high-resolution geophysics with our growing geological database and 2025 surface discoveries, we believe we are significantly improving our ability to define high-confidence drill targets across multiple mineralized systems at Magno."GoldHaven has already submitted its drill permit application for a 2026 program targeting three high-grade zones carrying silver, tungsten, lead, zinc, and indium mineralization. Tungsten is classified as a critical mineral by both the Canadian and U.S. governments, and Canada currently has no primary domestic tungsten production.Beyond British Columbia, GoldHaven is advancing its Copeçal Gold Project in Mato Grosso, Brazil, where the company recently completed its first diamond drilling program confirming gold and copper anomalism. Phase 2 drilling is planned for mid-Q2 2026. Between Magno and a 123,900-hectare Brazilian portfolio spanning three projects, GoldHaven offers diversified discovery exposure at a stage where most juniors remain locked into a single asset.CONTINUED… Read this and more news for GoldHaven Resources at:https://usanewsgroup.com/2025/09/23/the-goldhaven-story-two-continents-one-strategy-systematic-exploration-in-historically-productive-districts/In other industry developments:Almonty Industries (NASDAQ: ALM) (TSX: AII) announced the relocation of its corporate headquarters from Toronto, Ontario to Dillon, Montana, positioning the company closer to U.S. government agencies, defense contractors, and industrial partners following its Nasdaq listing and US$90 million IPO in July 2025 and a US$129 million follow-on financing in December 2025. The move accompanies the acquisition of Montana's Gentung Tungsten Project, expected to restart production in 2026, and deepens Almonty Industries' strategic alignment with U.S. critical mineral supply chain security."Relocating our headquarters to the United States is not merely symbolic," said Lewis Black, Chairman, President and CEO of Almonty Industries. "It reflects who we are – as Montana is the location of our recently acquired Gentung Tungsten Project – and where our future lies. Our investors, customers, and strategic partners are here because they recognize the urgency of building a Western tungsten supply chain free from Chinese dependence."Almonty Industries operates the Sangdong Mine in South Korea, historically one of the world's largest and highest-grade tungsten deposits, as well as projects in Portugal and Spain. With Sangdong Phase 1 complete and Gentung on track for restart, the company is targeting a dominant position in the global non-Chinese tungsten supply chain.Idaho Strategic Resources (NYSE-A: IDR) has secured a long-term lease for the Niagara copper-silver project in Shoshone County, Idaho, adding a historic resource estimate of approximately 150 million pounds of copper and 8 million ounces of silver to its district-scale Murray Gold Belt landholdings. The Niagara deposit is a Revett-type sediment-hosted deposit located approximately 7 kilometers from Idaho Strategic Resources' producing Golden Chest Mine, with the company holding all adjacent unpatented mineral claims."The Niagara deposit is a natural fit for our Company in many ways," said John Swallow, President and CEO of Idaho Strategic Resources. "In addition to broadening IDR's commodity asset base as our country enters a strong secular commodity market, it also serves as a prime example of the potential of the overall MGB District."The lease begins at $18,000 annually, escalating at 3% per year over an initial 10-year term with extension options, and includes a 2% net smelter royalty with a $1,000,000 buyback option on 1%. Idaho Strategic Resources has planned a 2026 drill campaign to upgrade historic resource confidence and test mineral continuity along strike, down dip, and within the untested lower-middle Revett Formation.Brixton Metals (TSXV: BBB) (OTCQX: BBBXF) reported the third batch of drill results from its Langis 2026 drill program at the Langis silver project in Ontario, Canada, including hole LM-26-290 with a 0.50-metre sample grading 82,334 g/t silver containing abundant native silver, representing the highest-grade single sample ever reported by the company and among the highest silver grades ever reported globally. The hole returned 11.35 metres averaging 4,560 g/t silver, with multiple additional bonanza-grade intercepts reported across the program."We are excited to report the third batch of drill results from the Langis 2026 drill program," said Gary R. Thompson, Chairman and CEO of Brixton Metals. "These results are extraordinary and are among the most significant silver drilled intercepts known to the company globally. Hole LM-26-290 has delivered an exceptional result, highlighted by 82,334 g/t silver from a 0.50m core length sample containing abundant native silver."Brixton Metals is advancing the Langis silver project in Ontario alongside its Thorn copper-gold-silver project in British Columbia, with ongoing drilling at Langis aimed at delineating the extent of bonanza-grade mineralization and establishing a mineral resource estimate.Kingfisher Metals (TSXV: KFR) (OTCQB: KGFMF) outlined a new porphyry drill target at the Turquoise area of its 933 km² HWY 37 Project in British Columbia's Golden Triangle, characterized by a 0.5 by 2.0 km chargeability anomaly supported by magnetic vector amplitude, DC resistivity, and Mobile MagnetoTellurics inversion datasets. The near-surface target is drill-ready and located approximately 6 km from existing highway infrastructure, with porphyry-proximal indications including advanced argillic mineralogy and elevated pyrite abundance at the geophysical core domain."The Turquoise target is a direct result of our systematic exploration approach, which continues to unlock new opportunities across this underexplored yet highly prospective region of the Golden Triangle," said Dustin Perry, CEO of Kingfisher Metals. "The target is located within the emerging Hank–Mary district and only ~6 km from existing infrastructure."The Turquoise target sits approximately 3.4 km east of the Hank porphyry discovery hole drilled in 2025 and expands the prospective footprint across the HWY 37 Project. Kingfisher Metals plans to drill the Turquoise target in summer 2026 as part of a disciplined program building a pipeline of high-quality targets across its large land package in the Golden Triangle.FURTHER READING: https://usanewsgroup.com/2025/09/23/the-goldhaven-story-two-continents-one-strategy-systematic-exploration-in-historically-productive-districts/CONTACT:
USA News Group
info @acblanke1DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for Baystreet.ca Media Corp. ("BAY"), who has been paid a fee for an advertising campaign. MIQ has not been paid a fee for GoldHaven Resources Corp. advertising or digital media, but the owner/operators of MIQ also co-owns BAY. There may also be 3rd parties who may have shares of GoldHaven Resources Corp. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by GoldHaven Resources Corp. The scientific and technical information disclosed in this document have been reviewed and approved by two Qualified Persons (QPs). The Copeçal Technical Report identifies Jean-Marc Lopez, B.Sc., FAusIMM, as the Qualified Person responsible for the report. The report "GoldHaven Resources Completes Summer Exploration Programs" states that the technical information has been reviewed and approved by Jonathan Victor Hill, B.Sc. Hons, FAusIMM, an independent Qualified Person and Country Manager of GoldHaven. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.SOURCES:https://www.piie.com/blogs/realtime-economics/2026/us-posing-hidden-risk-wests-critical-minerals-strategy https://www.fastmarkets.com/insights/tungsten-2026-geopolitics-sets-global-tone/ https://silverinstitute.org/wp-content/uploads/2026/04/World-Silver-Survey-2026.pdf https://www.cnbc.com/2026/03/10/copper-shortage-tariff-fears-mine-disruptions-prices-tightness.html Logo: https://mma.prnewswire.com/media/2838876/5919929/USA_News_Group_Logo.jpg 



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Original: A Supply Crisis Is Brewing in the Metals That Power Everything

Idaho Strategic Reports Record Operating and Financial Performance for 2025March 23, 2026 6:30 AM
Business Wire
Annual revenue increased 64.6% to a record $42,406,253, resulting in earnings per diluted share of $1.14 and three consecutive years of GAAP profitability


Proven and Probable Reserves at the Golden Chest Mine increased 53.2% as a result of positive conversion drilling efforts in 2025


Ended the year with cash and investments totaling $73,308,507


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, 2025. IDR achieved record annual gold production and financial performance during 2025 while drilling the most meters in a single year in Company history. Key highlights include:




Operational




Performance:






2025






% Change






2024








Ore Tonnes Processed






41,840






1.7%






41,140








Average Flotation Feed Grade (gpt)






10.14






4.9%






9.67








Ounces Produced






12,538






5.2%






11,915








All-In Sustaining Cost Per Ounce ($USD)






$1,891.79






28.3%






$1,474.05










 



*Adjusted all-in sustaining costs excluding exploration expenses were $1,494.75 in 2025 and $1,256.16 in 2024.










 



Financial




Performance ($USD):






2025






% Change






2024








Revenue






$42,406,253






64.6%






$25,765,373








Total Cost of Sales






$16,200,326






26.4%






$12,814,880








Gross Profit






$26,205,927






102.4%






$12,950,493








Net Income Attributable to IDR






$16,715,674






89.2%






$8,836,685








Earnings Per Share - Diluted (EPS)






$1.14






70.1%






$0.67







Idaho Strategic’s CEO and President, John Swallow stated, “Across the board 2025 was a very strong year for the Company. I continue to be impressed with our team’s ability to navigate the buildout of the Murray Mill, new warehouse/dry facilities, and expanded exploration programs while maintaining disciplined operations. I firmly believe we are building the all-star team at Idaho Strategic, and our financial and operational performance in 2025 serves as evidence. I am looking forward to the day that our entire team is consolidated to the Golden Chest Mine and we can begin to experience the true efficiencies that come with having everyone at one location working together.”


Golden Chest Highlights for 2025 Include:



Produced a total of 12,538 ounces of gold contained in concentrates and doré primarily from the high-grade H-Vein at the Golden Chest mine.



Mined and processed 41,840 tonnes of ore from the H-Vein underground at the Golden Chest Mine at an average grade of 10.14 gpt gold with recoveries of 93.0%.



Completed 19,162 meters of core drilling at the Golden Chest Mine at the Paymaster, H-Vein, Red Star, Jumbo, and Klondike areas. About half of the meterage was dedicated to converting Paymaster Mineral Resources to Mineral Reserves, leading to a 53.2% increase in Mineral Reserves.



A highlight of 2025 exploration was drifting from the Jumbo Pit portal that intercepted the Jumbo vein and found 25 meters of vein strike length with an average thickness of 0.52 meters at a gold grade of 85 gpt.



Rare Earth Highlights for 2025 include:



Executed a long-term lease agreement for the mineral claims comprising approximately 1,500 acres of various in-holdings within the Company’s Mineral Hill and Lemhi Pass REE projects. Key prospects covered by the mineral claims leased by the Company include Cardinal (Mineral Hill), Lucky Horseshoe (Lemhi Pass, Idaho), Silver Queen (Lemhi Pass, Idaho), Last Chance (Lemhi Pass, Montana), Trapper (Lemhi Pass, Montana), and other prospects.



Sampled greater than 17.6% total rare earth oxides from the Cardinal prospect.



Announced the signing of a Memorandum of Understanding with Clean Core Thorium Energy, Inc. (“CCTE”) to evaluate the feasibility of thorium mining, processing, and fuel fabrication to facilitate a “Made in America” thorium-based nuclear fuel supply chain.



Announced the discovery of a carbonatite with strong REE mineralization at the Lucky Horseshoe prospect within the Lemhi Pass project. Initial samples taken from outcrop assayed up to 6.14% total rare earth oxides with ratios of 65% magnet rare earth oxides (Nd, Pr, Dy, Tb) and 11% SEG oxides (Sm, Eu, Gd).



Initiated a large-scale geophysics program across its Mineral Hill and Lemhi Pass projects including LiDAR, magnetics, and radiometrics surveys.



Completed a soil sampling program covering many key prospects across the Idaho portion of its Lemhi Pass project. The program successfully identified areas of anomalous REEs in soils which will be utilized to aid in the planning of drill programs and other future exploration work.



Mr. Swallow concluded, “Simply put, commodities are once again becoming a viable American industry, and I continue to believe that our Company is well-positioned for this new secular reality. We operate a gold mine in a safe jurisdiction at a time when gold has surpassed the Euro to become the second-largest world reserve asset, the U.S. is rapidly increasing its national debt, and the current presidential administration is openly calling for reduced interest rates (within the backdrop of ever-changing cross currents). We also control the largest exploration-stage rare earth elements landholdings in the country at a time when the current U.S. administration is focused on reducing our dependence on foreign sources for rare earth elements, which are critical inputs to the very defense technologies that are being consumed daily across an increasing number of global conflicts.


Our foundation is built on gold production, and while the price of gold has begun its next phase of consolidation, it is important to realize that the current gold price of approximately $4,500 per ounce is roughly 25% higher than our average realized gold price of $3,583 in 2025. Additionally, as an underground mine connected to an electric grid that is approximately 60% supplied with hydroelectric power, we are relatively well insulated from the larger drivers of cost inflation that many open-pit operations are exposed to.


As always, we will continue to focus on what we can control. Our goals for 2026 are to safely grow production at the Golden Chest Mine while advancing the buildout of the Murray Mill facility. We want to prove that the Murray Gold Belt District, which we have spent the last 10 years consolidating, is a major overlooked mineral district, and we will advance our exploration efforts across our vast rare earth elements landholdings to increase the potential for a major rare earth elements discovery.


I am pleased with our performance so far and looking forward to the rest of 2026.”


Notes accompanying the financial statements below can be found in the Company’s quarterly report filed this morning with the SEC on EDGAR.


Qualified person


IDR’s Vice President, Grant A. Brackebusch, P.E. is a qualified person as such term is defined under S-K 1300 and has reviewed and approved the technical information and data included in this press release.


About Idaho Strategic Resources, Inc.


Idaho Strategic Resources (IDR) is an Idaho-based gold producer which also controls the largest rare earth elements land package in the United States. The Company’s production-backed business plan was established in anticipation of today’s volatile geopolitical and macroeconomic environment. In addition to gold and gold production, the Company has built a substantial land position in Idaho, providing significant exploration exposure to gold and rare earth elements - in addition to thorium, copper, and silver. IDR finds itself in a unique position as the only publicly traded company with growing gold production and significant blue-sky potential for discovery and development in one Company.


For more information on Idaho Strategic Resources, visit www.idahostrategic.com or call:


Travis Swallow, Investor Relations & Corporate Development

Email: tswallow@idahostrategic.com

Phone: (208) 625-9001



 



Idaho Strategic Resources, Inc.




Consolidated Statements of Operations




For the Years Ended December 31, 2025 and 2024








 







 









 







 






2025







 






2024








 







 






 







 






 








Revenue-gold sales







$






42,406,253







$






25,765,373








 







 






 







 






 








Cost of sales:







 






 







 






 








Cost of sales and other direct production costs







 






13,862,226







 






10,861,492








Depreciation and amortization







 






2,338,100







 






1,953,388








Total cost of sales







 






16,200,326







 






12,814,880








 







 






 







 






 








Gross profit







 






26,205,927







 






12,950,493








 







 






 







 






 








Other operating expenses:







 






 







 






 








Exploration







 






7,637,435







 






2,920,535








Loss on disposal of equipment







 






343,945







 






1,431








Management







 






945,579







 






407,715








Professional services







 






585,145







 






432,237








General and administrative







 






1,092,822







 






763,040








Total other operating expenses







 






10,604,926







 






4,524,958








 







 






 







 






 








Income from operations







 






15,601,001







 






8,425,535








 







 






 







 






 








Other (income) expense:







 






 







 






 








Equity income on investment in Buckskin Gold and Silver, Inc.







 






(3,646)







 






(2,667)








(Gain) loss on investment in equity securities and mutual funds







 






(110,092)







 






453








Timber revenue







 






(9,679)







 






(19,406)








Dividend income







 






(50,881)







 






-








Interest income







 






(1,282,045)







 






(389,517)








Interest expense







 






-







 






83,295








Total other (income) expense







 






(1,456,343)







 






(327,842)








 







 






 







 






 








Income before income taxes







 






17,057,344







 






8,753,377








Income tax expense







 






426,146







 






-








 







 






 







 






 








Net income







 






16,631,198







 






8,753,377








 







 






 







 






 








Net loss attributable to non-controlling interest







 






(84,476)







 






(83,308)








Net income attributable to Idaho Strategic Resources, Inc.







$






16,715,674







$






8,836,685








 







 






 







 






 








Net income per common share-basic







$






1.15







$






0.68








 







 






 







 






 








Weighted average common shares outstanding-basic







 






14,489,196







 






13,026,487








 







 






 







 






 








Net income per common share-diluted







$






1.14







$






0.67








 







 






 







 






 








Weighted average common shares outstanding-diluted







 






14,701,346







 






13,197,308













 




Idaho Strategic Resources, Inc.




Consolidated Balance Sheets




December 31, 2025 and 2024











 







 






2025







 






2024








ASSETS







 






 







 






 








Current assets:







 






 







 






 








Cash and cash equivalents







$






9,889,765







$






1,106,901








Investment in US treasury notes







 






27,679,881







 






7,775,193








Investment in equity securities







 






4,129,521







 






-








Investment in mutual funds







 






3,957,497







 






-








Gold sales receivable







 






3,912,922







 






1,578,694








Inventories







 






965,112







 






899,924








Joint venture receivable







 






12,760







 






2,892








Other current assets







 






799,261







 






378,469








Total current assets







 






51,346,719







 






11,742,073








 







 






 







 






 








Property, plant and equipment, net of accumulated depreciation







 






19,503,962







 






12,904,065








Mineral properties, net of accumulated amortization







 






15,742,370







 






10,573,349








Investment in Buckskin Gold and Silver, Inc.







 






345,082







 






341,436








Investment in joint venture







 






435,000







 






435,000








Investment in US treasury notes, non-current







 






27,651,843







 






7,208,930








Reclamation bonds







 






355,220







 






249,110








Deposits







 






858,534







 






567,667








Total assets







$






116,238,730







$






44,021,630








 







 






 







 






 








LIABILITIES AND STOCKHOLDERS’ EQUITY







 






 







 






 








Current liabilities:







 






 







 






 








Accounts payable and accrued expenses







$






1,904,589







$






1,006,078








Accrued payroll and related payroll expenses







 






409,212







 






564,090








Notes payable, current portion







 






1,029,336







 






709,381








Income taxes payable







 






334,446







 






-








Total current liabilities







 






3,677,583







 






2,279,549








 







 






 







 






 








Asset retirement obligations







 






325,451







 






305,409








Notes payable, long term







 






1,302,048







 






1,023,358








Deferred tax liability







 






91,700







 






-








Total long term liabilities







 






1,719,199







 






1,328,767








 







 






 







 






 








Total liabilities







 






5,396,782







 






3,608,316








 







 






 







 






 








Commitments and Contingencies (Note 5 and 12)







 






-







 






-








 







 






 







 






 








Stockholders’ equity:







 






 







 






 








Preferred stock, no par value, 1,000,000 shares authorized; no shares issued or outstanding







 






-







 






-








Common stock, no par value, 200,000,000 shares authorized; 15,705,199 and 13,665,058 shares issued and outstanding, respectively







 






99,828,021







 






46,059,318








Retained earnings (accumulated deficit)







 






8,341,721







 






(8,373,953)








Total Idaho Strategic Resources, Inc. stockholders’ equity







 






108,169,742







 






37,685,365








Non-controlling interest







 






2,672,206







 






2,727,949








Total stockholders' equity







 






110,841,948







 






40,413,314








 







 






 







 






 








Total liabilities and stockholders’ equity







$






116,238,730







$






44,021,630













 


Forward Looking Statements


This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that are intended to be covered by the safe harbor created by such sections. Often, but not always, forward-looking information can be identified by forward-looking words such as “intends”, “potential”, “believe”, “plans”, “expects”, “may”, “goal’, “assume”, “estimate”, “anticipate”, and “will” or similar words suggesting future outcomes, or other expectations, beliefs, assumptions, intentions, or statements about future events or performance. Forward-looking information includes, but are not limited to, the Company experiencing tangible benefits from having all team members consolidated to the Golden Chest Mine site, the potential for the Murray Gold Belt to be proven as a major overlooked mineral district, and the potential for IDR to make a major rare earth elements discovery in the future based on planned exploration work in 2026. Forward-looking information is based on the opinions and estimates of Idaho Strategic Resources as of the date such information is provided and is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of IDR to be materially different from those expressed or implied by such forward-looking information. Investors should note that IDR’s claim as the largest rare earth elements landholder in the U.S. is based on the Company’s internal review of publicly available information regarding the rare earth landholdings of select companies within the U.S., which IDR is aware of. Investors are encouraged not to rely on IDR’s claim as the largest rare earth elements landholder in the U.S. while making investment decisions. The forward-looking statement information above, and those following are applicable to both this press release, as well as the links contained within this press release. With respect to the business of Idaho Strategic Resources, these risks and uncertainties include risks relating to widespread epidemics or pandemic outbreaks; interpretations or reinterpretations of geologic information; the accuracy of historic estimates; unfavorable exploration results; inability to obtain permits required for future exploration, development or production; general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices; the ability to obtain necessary future financing on acceptable terms; the ability to operate the Company’s projects; and risks associated with the mining industry such as economic factors (including future commodity prices, and energy prices), ground conditions, failure of plant, equipment, processes and transportation services to operate as anticipated, environmental risks, government regulation, actual results of current exploration and production activities, possible variations in ore grade or recovery rates, permitting timelines, capital and construction expenditures, reclamation activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Readers are cautioned not to place undue reliance on such information. Additional information regarding the factors that may cause actual results to differ materially from this forward-looking information is available in Idaho Strategic Resources filings with the SEC on EDGAR. IDR does not undertake any obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260323269320/en/
Travis Swallow, Investor Relations & Corporate Development

Email: tswallow@idahostrategic.com

Phone: (208) 625-9001


Original: Idaho Strategic Reports Record Operating and Financial Performance for 2025

What a rally so far over 4 weeks from $32 to $44s and CLIMBING. With gold at $4300+/oz surprised it is not climbing faster.

Gold at over $4300/oz. Gold Gold Gold Gold Gold heavy rare earths

Yeah great rebound today! Congrats to those who bought the dip

IDR had a normal correction and now momentum is back! A big day for this rare earth element producer. There's more to come.

Gold up over $100/oz!!! Why is IDR dropping like a rock????? Huh?

gold is almost hitting $4300/oz. IDR should be hitting $60s from gold price rise alone. GOLD .. GOLD .. GOLD.
stupid stock is going DOWN .. DOWN .. DOWN ... Huh??????

Gold is @$4200+ !!!!!!!!!!! & CLIMBING !!!!!!!!!
Primarily IDR is a PRODUCING profitable gold mining company.
It also has rare earths that US must have.and and and thorium for small nuclear reactors -- a US initiative. IDR should be zooming up up up up up ...

The stock is up massively in recent months. From the low teens to over $50. Some profit taking shouldn't be a surprise...

Gold is up huge today, why is IDR down $7? This make NO sense.

IDR has recieved awards and grants for its paste tailings process that recycles water and is used as backfill for the mine to reduce concrete use and carbon footprunt. Do some looking before you post something that you think applies to all miners.

🔴 Major Environmental Impacts
1. Radioactive Waste
Some rare earth ores (like monazite) contain thorium or uranium, which are radioactive.

Processing generates radioactive tailings that can contaminate soil and water if not properly managed.

2. Toxic Chemical Use
Extraction involves strong acids (like sulfuric and hydrochloric acid) and other reagents.

Leaching and solvent extraction steps produce toxic sludges and wastewater.

If mishandled, these chemicals can leak into rivers, groundwater, and agricultural land.

3. Air Pollution
Mining and processing can release particulate matter, sulfur dioxide, and fluorine compounds into the air.

Smelting and burning of materials can emit greenhouse gases and other hazardous substances.

4. Water Pollution
Acid mine drainage and heavy metal runoff are common.

In places like China’s Bayan Obo mine, groundwater and rivers have been heavily contaminated.

5. Land Degradation
Open-pit mining removes large surface areas, leading to deforestation, habitat destruction, and soil erosion.

Tailings ponds (for storing waste) can leak or collapse.

🟡 Country Differences
China, which produces ~60–70% of the world's rare earths, has seen severe environmental damage in mining regions like Inner Mongolia and Jiangxi.

In contrast, countries like the U.S., Canada, and Australia enforce stricter environmental controls, making the process cleaner but more expensive.

$IDR

This one going to keep moving up under the belt imo. Very under the radar and with only 13.66M OS I'm expecting $36 shortly.

I'm in 🥳

Going to buy this one.

Good stock

https://www.otcmarkets.com/stock/IDR

https://www.otcmarkets.com/stock/IDR

https://www.otcmarkets.com/stock/IDR

https://www.otcmarkets.com/stock/IDR

IDR
Idaho Strategic Resources Inc
5.21
0.03 (0.58%)
Volume: 13,556
Day Range: 5.17 - 5.46
Last Trade Time: 8:00:00 PM EDT

IDR
Idaho Strategic Resources Inc
5.95
0.15 (2.59%)
Volume: 26,401
Day Range: 5.80 - 6.13
Last Trade Time: 8:00:00 PM EDT

IDR
Idaho Strategic Resources Inc
5.41
0.21 (4.04%)
Volume: 13,554
Day Range: 5.14 - 5.41
Last Trade Time: 8:00:00 PM EDT

IDR
Idaho Strategic Resources Inc
4.80
0.00 (0.00%)
Volume: 9,230
Day Range: 4.65 - 4.8999
Last Trade Time: 8:00:00 PM EDT

IDR
Idaho Strategic Resources Inc
6.26
0.13 (2.12%)
Volume: 14,455
Day Range: 5.9331 - 6.28
Last Trade Time: 8:00:00 PM EDT

IDR
Idaho Strategic Resources Inc
6.26
0.13 (2.12%)
Volume: 14,455
Day Range: 5.9331 - 6.28
Last Trade Time: 8:00:00 PM EDT

IDR
Idaho Strategic Resources Inc
5.05
0.13 (2.64%)
Volume: 30,887
Day Range: 4.87 - 5.03
Last Trade Time: 8:00:00 PM EDT

IDR
Idaho Strategic Resources Inc
5.38
-0.125 (-2.27%)
Volume: 10,186
Day Range: 5.38 - 5.5099
Last Trade Time: 8:00:00 PM EST

IDR
Idaho Strategic Resources Inc
5.50
0.16 (3.00%)
Volume: 3,833
Day Range: 5.35 - 5.5899
Last Trade Time: 6:30:00 PM EST

IDR
Idaho Strategic Resources Inc
5.55
-0.13 (-2.29%)
Volume: 3,874
Day Range: 5.55 - 5.60
Last Trade Time: 8:00:00 PM EST

IDR
Idaho Strategic Resources Inc
5.66
-0.20 (-3.41%)
Volume: 18,667
Day Range: 5.595 - 6.06
Last Trade Time: 8:00:00 PM EST

IDR
Idaho Strategic Resources Inc
5.66
-0.20 (-3.41%)
Volume: 18,667
Day Range: 5.595 - 6.06
Last Trade Time: 8:00:00 PM EST

IDR
Idaho Strategic Resources Inc
5.51
-0.21 (-3.67%)
Volume: 15,640
Day Range: 5.45 - 5.7431
Last Trade Time: 8:00:00 PM EDT
Total Trades: 163
IDR Detailed Quote

IDR
Intrawest Corp.
-
- (-)
Volume: -
IDR Detailed Quote

IDR
Intrawest Corp.
-
- (-)
Volume: -
IDR Detailed Quote

IDR
Idaho Strategic Resources
Ordinary Shares
7.18
0.22

3.16%

Delayed (15 Min) Trade Data: 04:10pm 06/21/2022
Overview
Quote
Company Profile
Security Details
News
Financials
Disclosure
Research

IDR
Intrawest Corp.
-
- (-)
Volume: -
IDR Detailed Quote

Idaho Strategic Reso (IDR)
8.52 ? 0.25 (3.02%)
Volume: 30,891 @06/03/22 8:00:00 PM EDT
Bid Ask Day's Range
- - 7.87 - 8.55
IDR Detailed Quote

Idaho Strategic Reso (IDR)
9.22 ? -0.02 (-0.22%)
Volume: 12,304 @04/29/22 8:00:00 PM EDT
Bid Ask Day's Range
- - 8.79 - 9.24
IDR Detailed Quote

Idaho Strategic Reso (NJMC)
12.0 ? 0.0 (0.00%)
Volume: 0 @-
Bid Ask Day's Range
12.0 12.0 - - -
NJMC Detailed Quote

It moved to the NYSE. Symbol IDR. So far, it looks as if the there is a larger market demand. There is only one other microcap way to invest in rare earths and the gold mining portion of the business is growing fast.

NJMC moved to the AMEX from the OTC:

https://otce.finra.org/otce/dailyList?viewType=Deletions

Idaho Strategic Reso (NJMC)
8.75 ? -0.2 (-2.23%)
Volume: 7,648 @02/04/22 3:29:22 PM EST
Bid Ask Day's Range
8.6 8.75 8.7 - 8.98
NJMC Detailed Quote

https://www.otcmarkets.com/stock/NJMC

yes me too, 'Idaho Strategic Resources (NJMCD)'

Yup I did to mick and I’m not a RS type of person either. Took much much higher profits. Cleared it out.

Until that rare earth is actually mined - it’s just a gold company doing exactly what they have been doing - years from now/ here’s what occurs here. They borrow, borrow, borrow, borrow until year 2060.

I wisely got out, except tiny % left. So when the “alleged” deeper pockets money folks etc on street we’re driving the PPS up, I GLADLY SOLD THEM MINE- for a big markup in net gains.

I usually- do exactly that. It’s not my first rodeo for buying way under valued mining corps, years before “discovered” by the street. I make it my business through decades of hard tough analytical research and buy large when it’s dirt cheap. Take huge positions. Knowing - that in the future- “those money guys” will only be buying mine later for a premium. Usually years later. That’s my price I only pay, is my “time” sitting on it collecting dust and cobwebs which I’m very ok with. But those “money people” what I call the Johnny come latelies, their price “to pay” later, are my much higher priced shares and retail investors that see PR’s after game and the party is over.

I have no problem “with the street” FINDING this. I banked out it many YEARS ago.

I’m not concerned about what if’s AFTER, IF the PPS increases after I sold dumped mine- before the RS. It’s irrelevant. But I always see other plays nobody knows of, meaning (money street guys) that are more attractive than this ONCE WAS.

I routinely beat the street, 30+ years and other investors into plays like this, years in advance. I’m already leveraged deep into 7 other plays, that I know years later, will likely play out as NJMC did. Steal for cheap, sell high, years later.

Basically I bank on kool aid investors & money street folks, coming in after me, years later after “discovering” companies such as Jersey. I wish Jersey well, it did right by me and my investment. But the rare earth component while its intriguing, it’s not occurring anytime soon. Not at all. There’s going to be a major time lag, more funds borrowed imho. I’m out, mostly.

Somebody else’s optimism is warranted bc they may have bought it and are excited and hopeful. For myself, that peaked already. My viewpoint, is rear view mirror mostly.

I dated this girl for years, LOL. She finally gave it up. Smiling ear to ear. I hope this increases 2/3/4 times for you. It’s just, I made my cash. I’m out, kind of like shark tank, think of me as a version of Mr Wonderful.

Rinse repeat.

MERRY CHRISTMAS TO YOU & FAMILY , ALL HAVE AH GREAT CHRISTMAS , DA MICK