2022-05-27 | NYSEAM:IDR | Press release

COEUR D’ALENE, ID / ACCESSWIRE / May 27, 2022 / Idaho Strategic Resources, Inc. (NYSE American: IDR) (“IDR”, “Idaho Strategic” or the “Company”) is pleased to announce its approval of the Thorium Energy Security Act of 2022, a bill that was submitted to Congress on May 18e, 2022, by U.S. Sen. Tommy Tuberville (R-AL), member of the Senate Armed Services Committee, and Sen. Roger Marshall (R-KS), member of the Senate Energy and Natural Resources Committee. The Thorium Energy Security Act aims to prevent the destruction of uranium 233 (U-233), a critical element used to produce clean energy.

“Thorium and U-233 hold the promise of producing clean, safe energy and are vital to our national security. Energy will continue to be at the heart of global conflicts, so the United States must invest in technologies energy,” said Senator Tuberville. “China has clearly understood the value of our thorium research – they’ve picked up where we left off, and we may soon see Chinese thorium-powered aircraft carriers and thorium reactors on the Belt and Road thanks to American technology. (https://www.tuberville.senate.gov/newsroom/press-releases/tuberville-marshall-introduce-bill-to-save-clean-safe-nuclear-power/)

In addition to controlling the Lemhi Pass Thorium-REE resource; the largest known thorium resource in the United States (according to the US Geological Survey and the Idaho Geological Survey), Idaho Strategic endorses this bill as a major step in the right direction toward defense nation while helping achieve U.S. decarbonization goals.

IDR President and CEO John Swallow added, “We have repeatedly commented on our views on China and our lack of preparedness as a country – much of which was easily avoidable. It is reassuring to see several state senators willing to come forward and do the work to understand the opportunities thorium presents. The reality is that the United States was once the leader in thorium reactor technology and then handed over all of our research to China. Still, it’s very encouraging to finally see this kind of public support for thorium.”

Building on nuclear research begun during World War II, the Manhattan Project, and the ensuing Cold War, many in the scientific community truly believed that when the United States was ready to move from building nuclear bombs to safeguard the environment, a natural shift from uranium to thorium as the preferred component of nuclear fuel would occur. As the United States has embarked on a decarbonization path, it makes sense that thorium and molten salt reactor technology will begin to resurface as a potential answer to providing safe and environmentally friendly nuclear energy. environment with low potential for militarization.

A link to Senator Tommy Tuberville’s presentation of the Thorium Energy Security Act of 2022 can be found here: https://www.youtube.com

About Idaho Strategic Resources, Inc.

Idaho-domiciled and based in northern Idaho, Idaho Strategic Resources (IDR) is one of the few resource-based companies (public or private) with the combination of officially recognized national rare earth element properties in the United States (in Idaho), the largest known concentration of thorium resources in the United States and Idaho-based gold production located in an established mining community.

Idaho Strategic Resources produces gold at the Golden Chest mine located in the Murray Gold Belt (MGB) region of the world-class Coeur d’Alene mining district, north of the prolific Silver Valley. With over 7,000 acres of patented and unpatented land, the company has the largest private land position in the region following its consolidation of the Murray Gold Belt for the first time in over 100 years.

In addition to gold and gold production, the Company maintains a significant strategic presence in the US critical minerals sector, specifically focused on the most “at risk” rare earth elements (REEs) and thorium. The Company’s Diamond Creek and Roberts REE properties are included in the United States National REE Inventory as listed in USGS, IGS and DOE publications. IDR’s Lemhi Pass Thorium-REE project is recognized by the USGS and IGS as containing the highest concentration of thorium resources in the country. All three projects are located in central Idaho and participate in the USGS Earth MRI program.

With an impressive blend of experience and dedication, the folks at IDR maintain a longstanding “We Live Here” approach to corporate culture, land management, and historic preservation. Additionally, we believe that successful operations begin with the increased accountability that only local oversight and a community mindset can provide. Its “everyone goes home at night” policy would not be possible without the multi-generational base of local exploration, drilling, mining, machining and business professionals who reside in and near communities in the Silver Valley and northern Idaho.

For more information about Idaho Strategic Resources, click here for our corporate overview, visit www.idahotrategic.com or call:

Travis Swallow, Investor Relations and Corporate Development

Email: [email protected]

(208) 625-9001

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, which are intended to be covered by the safe harbor created by such rubrics. Often, but not always, forward-looking information can be identified by forward-looking words such as “assume”, “expect”, “believe”, “potential”, “plan”, “may”, “objective”, ” estimate”, “intend”, “anticipate” and “will” or similar words suggesting future results, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements regarding future events or performance Forward-looking information includes, but is not limited to, Idaho Strategic Resources’ expectations, intentions, plans, assumptions and beliefs regarding, among other things, estimated and targeted production rates and results, expected prices of gold, rare earth elements and/or thorium, together with related costs, expenses and capital expenditures, and potential advancement of rare earth elements, thorium or other critical mineral resources. 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 actual results, level of activity, performance or IDR achievements may differ materially from those expressed or implied by such forward-looking information. IDR does not endorse the material contained in the links provided in this press release as being factual, based on scientific fact and/or originating from the company. The information about forward-looking statements above and those that follow apply both to this press release, as well as to the links to which this press release refers. With respect to the business of Idaho Strategic Resources, these risks and uncertainties include risks related to generalized disease or pandemic outbreaks, if they occur, including our ability to access goods and supplies, the ability to transport our products and impacts on employee productivity, risks to the Company’s operations, cash flows and results related to the unknown duration and impact of the COVID-19 pandemic; interpretations or reinterpretations of geological information; unfavorable exploration results; failure to obtain permits required for future exploration, development or production; general economic conditions and conditions affecting the industries in which the Company operates; uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices; the ability to obtain necessary future financing on acceptable terms; the success of the Thorium Energy Security Act of 2022, (referred to in this press release) 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 planned, environmental risks, government regulations, actual results of exploration and production activities, possible variations in ore grade or recovery rates, lead times, permitting, capital and construction expenditures, rehabilitation activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be those anticipated, estimated or expected. Readers are cautioned not to place undue reliance on this information. Additional information regarding factors that could cause actual results to differ materially from such forward-looking information is available in Idaho Strategic Resources’ filings with the SEC on EDGAR. IDR undertakes no obligation to publicly update or otherwise revise any forward-looking information, whether as a result of new information, future events or other factors that affect such information, except as required by law. .

THE SOURCE: Idaho Strategic Resources, Inc.

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