Idaho Strategic Resources Inc. recorded $3.65m in net income attributable to the company for the second quarter of 2026, a 31.95% increase compared to $2.77m in the second quarter of 2025.

Revenue for the three months ending June 30, 2026, reached $10.73m, up 13.25% from $9.48m previously. Gross profit rose 10.15% to $6.03m from $5.48m, while earnings per share grew to $0.23 from $0.20.

At the Golden Chest mine, the New Jersey Mill processed 11,094 dry metric tonnes of ore, generating 3,047 ounces of gold, a 1.23% increase over the 3,010 ounces produced in the second quarter of 2025. The average flotation feed grade fell to 7.89 grams per tonne (gpt) from 9.97 gpt year-over-year, and all-in sustaining costs rose to $2,261.81 per ounce from $1,948.53.

Milling operations were interrupted by an adjacent wildfire that forced evacuations from June 16 to June 24. While personnel and equipment were unharmed, the shutdown resulted in lost processing time. Underground development achieved a quarterly record of 384 meters across the Paymaster, MAR and Jumbo projects. Idaho Strategic established the No. 2 portal in early May to develop the high-grade Jumbo vein, connecting to the No. 1 portal to allow production to begin in the third quarter.

“We had a modest record Q2 year over year comparison in revenue, net income, EPS and ounces produced (along with record meters of underground mine development), however the second quarter was one of those where the numbers also don’t tell the full story. In addition to the expected increase in exploration field programs and the ramp up of construction activity at the Murray mill, there were unexpected events that tested our team. Overall, I am happy with the resiliency we showed and our ability to adjust on the fly to ultimately produce another positive quarter despite these challenges.”

— John Swallow, President and CEO

Construction also advanced on a new tailings storage facility at Golden Chest following permit receipt from the Idaho Department of Water Resources, alongside ongoing work for the new mill.

Read the full announcement: Idaho Strategic Reports Second Quarter 2026 Operating and Financial Performance