Published: March 9, 2016 |

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SGS Geostat team from Québec was awarded first place in Integra Gold Corp.‘s Gold Rush Challenge in front of a crowd of 400 at the Gold Rush Challenge Live Finale at the Carlu in Toronto. The SGS Geostat team beat out four other finalists and emerged as the winner with its submission that utilized a combination of machine learning and traditional geological methods to produce targets across the company’s Lamaque project in Val-d’Or, Québec. SGS Geostat used sophisticated geostatistical methods to drive data into an expansive and unbiased block model. A prospectivity scoring system harnessed both geological knowledge and machine learning, a subfield of artificial intelligence, to identify high value targets, which were then vetted through virtual reality with Oculus Rift technology. The proposal impressed both the technical judges and the industry titans that evaluated its presentation in a “shark tank” live finale. As the winner, SGS Geostat was awarded C$500,000.

“The Gold Rush Challenge has given Integra a platform to call on governments, mining companies and mining financers to get off the sidelines and get into the game. We are challenging traditional thinking and breaking new ground, embracing disruptive technology that is critical to the mining sector. The proposal from SGS Geostat represents the disruptive innovation we saw in the Gold Rush Challenge,” said executive chairman George Salamis.

“We saw the tech sector and the mining sector collide and unravel the great mystery of discovery. SGS Geostat beat the odds, advancing out of the semi-final round and impressing the industry titans with their embrace of machine learning and virtual reality while also emphasizing the importance of tradition, data driven geology,” added Salamis.

“The Gold Rush Challenge exceeded our expectations on every front. It has proven our steadfast commitment to always challenge ourselves to think outside the box to create value for our shareholders. A number of the exploration drill targets identified through the challenge are like nothing we’ve ever seen before,” said Integra President and CEO, Stephen de Jong.

“We have decided to expedite the drill program and start testing a number of these targets in the immediate future. We thank every one of the participants for stepping up to the challenge and helping us make it such a great success. Stay tuned for news on the Gold Rush Challenge Program as we continue to work towards making Val-d’Or’s next big gold discovery,” added de Jong.

The SGS Geostat team hails from Québec and includes the following members:
• Guy Desharnais
• Jean-Philippe Paiement
• Doug Hatfield
• Nicolas Babin
• Claude Bisaillon
• Yann Camus
• Maxime Dupéré
• Matthew Halliday
• Amanda Landriault
• Lyne Maître
• Patrick Perez
• Nicolas Poupart

“We are enormously grateful to Integra Gold and their sponsors for organizing this event. As a team of geologists, engineers, and computer scientists often bound by certain limitations and boundaries, we relished in the opportunity to channel our collective creativity and curiosity to provide new exploration targets in a historic and famous mining jurisdiction known worldwide,” said Guy Desharnais, team captain of SGS Geostat.

Prizes were awarded to the remaining finalists in the order below:

• Second Place, C$150,000: The Data Miners
• Third Place, C$80,000: The Goldcrushers
• Fourth Place, C$50,000: Paul Pearson
• Fifth Place, C$50,000: GoldRX

Team GoldRX, Craig Hart and Sara Jenkins, won the audience choice award. This C$10,000 award was provided by members of the syndicate from Integra’s February 2016 financing. The syndicate members also made a matching C$10,000 donation to the local Val-d’Or charities.

“These top 5 finalists showed exemplary talent, tabling some highly innovative and ground breaking ideas for the next big gold discoveries at Sigma-Lamaque and beyond. We salute these teams for their phenomenal efforts,” said de Jong.

Deciding the fate of the five finalists were industry titans Brent Cook, economic geologist and BNN commentator; Chantal Gosselin, director of Silver Wheaton Corp., mining engineer, former resource fund Manager and Val-d’Or local; Rob McEwen, founder of Goldcorp Inc. and McEwen Mining Inc.; Sean Roosen, chairman and CEO of Osisko Gold Royalties Ltd.; and Randy Smallwood, CEO of Silver Wheaton Corp. Each finalists had seven minutes to pitch and defend their idea on how to make the next major gold discovery in Val-d’Or, Québec.

“The torch has been passed. In 2001 the Goldcorp Challenge ignited the careers for the top three finishers, and I know that SGS Geostat will reap the benefits of winning the Gold Rush Challenge. Mark my words, this is not the last time we hear from the SGS Geostat team. I was fortunate to be part of the Gold Rush Challenge and I look forward to what Steve de Jong and his team at Integra Gold have planned next,” said Rob McEwen, founder of Goldcorp and McEwen Mining.

Proceeds from the evening will go to a variety of Val-d’Or based charities.

About Integra Gold
Integra Gold is a junior gold exploration company advancing projects in Val-d’Or, Québec, one of the top mining jurisdictions in the world. The company’s primary focus is its high-grade Lamaque South project. In 2014, Integra completed the accretive acquisition of the Sigma Mill and Mine Complex, a fully permitted 2,200 ton per day mill and tailings facility. With major federal and provincial permits in place, existing infrastructure and exploration potential, this acquisition removed major costs and shortened timelines typically associated with mine projects. With a current market capitalization of $160 million, Integra has raised more than $75 million since 2013 despite depressed gold prices. In February 2016, Eldorado Gold Corporation completed a strategic investment in Integra, acquiring 15 percent of the outstanding common shares. Integra was recently named to the TSX Venture top 50 performers in 2015 and the OTCQX Best 50 award for 2015.

To stop by Integra Gold’s website, CLICK HERE

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