Idaho Strategic Resources, Inc.

DESCRIPTION OF THE BUSINESS History and Organization Idaho Strategic Resources, Inc. ( the Company , Idaho Strategic or IDR ) was incorporated under the laws of the State of Idaho on July 18, 1996. The Company’s head office and registered records office is located at 201 N. 3 rd St. Coeur d’Alene, ID 83814. On December 6, 2021, the Company changed its name to Idaho Strategic Resources, Inc. (formerly New Jersey Mining Company ( NJMC )) to better reflect its corporate focus, Idaho-based operations and being domiciled in Idaho. IDR is one of the few resource-based companies (public or private) possessing the combination of officially recognized U.S. domestic rare earth element properties (in Idaho) and Idaho-based gold production located in an established mining community. Any Bankruptcy, Receivership or Similar Proceedings There have been no bankruptcy, receivership, or similar proceedings. Any Material Reclassification, Merger, Consolidation, or Purchase or Sale of a Significant Amount of Assets Not in the Ordinary Course of Business. There have been no material reclassifications, mergers, consolidations, purchases, or sales not in the ordinary course of business for the past three years. General Description of the Business Idaho Strategic produces gold at the Golden Chest Mine located in the Murray Gold Belt ( MGB ), the northern portion of the world-class Coeur d’Alene Mining District, north of the prolific Silver Valley.