2017 Could Be Transformative for Integra Gold

Disclosures from M Partners, Integra Gold Corp. Research Flash, Jan. 11, 2017

The Research Analyst(s) who prepare this report certify that their respective report accurately reflects his/her personal opinion and that no part of his/her compensation was, is, or will be directly or indirectly related to the specific recommendations or views as to the securities or companies. M Partners compensates its research analysts from a variety of sources and research analysts may or may not receive compensation based upon M Partners investment banking revenue.

1. M Partners or its affiliates collectively beneficially DO NOT own 1% or more of any class of equity securities of the company which is the subject of the research report.

2. The analyst or any associate of the analyst responsible for the report or public comment DO NOT hold shares in the company.

3. M Partners or a director or officer of M Partners or any analyst DID NOT provide services to the company for remuneration other than normal investment advisory or trade execution services within the preceding 12 months, (may seek compensation for investment banking services from the company herein within the next 3 months).

4. Is any director, officer, employee or research analysts an officer, director or employee of the company, or serve in an advisory capacity to the company? NO

5. The analyst has viewed the material operations of the company. We define material operations as an issuer's corporate head office and its main production facility or a satellite facility that is representative of the company's operations.

6. M Partners provided investment banking services for the company during the 12 months preceding the publication of the research report

7. The analyst preparing the report DID NOT receive compensation based upon M Partners investment banking revenues for this issuer.

Disclosures from Macquarie Research, Global Gold Developers & Explorers, 2017, Picking the Winners. Jan. 17, 2017

Analyst certification:  We hereby certify that all of the views expressed in this report accurately reflect our personal views about the subject company or companies and its or their securities. We also certify that no part of our compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. The Analysts responsible for preparing this report receive compensation from Macquarie that is based upon various factors including Macquarie Group Ltd total revenues, a portion of which are generated by Macquarie Group’s Investment Banking activities.

Important disclosure information regarding the subject companies covered in this report is available at www.macquarie.com/research/disclosures.

Disclosures from Raymond James, Integra Gold Corp., Jan. 23, 2017

ANALYST INFORMATION: Analyst Compensation: Equity research analysts and associates at Raymond James are compensated on a salary and bonus system. Several factors enter into the compensation determination for an analyst, including i) research quality and overall productivity, including success in rating stocks on an absolute basis and relative to the local exchange composite Index and/or a sector index, ii) recognition from institutional investors, iii) support effectiveness to the institutional and retail sales forces and traders, iv) commissions generated in stocks under coverage that are attributable to the analyst’s efforts, v) net revenues of the overall Equity Capital Markets Group, and vi) compensation levels for analysts at competing investment dealers.

The views expressed in this report accurately reflect the personal views of the analyst(s) covering the subject securities. No part of said person's compensation was, is, or will be directly or indirectly related to the specific recommendations or views contained in this research report. In addition, said analyst has not received compensation from any subject company in the last 12 months.

Raymond James Ltd. or its affiliates expects to receive or intends to seek compensation for investment banking services from all companies under research coverage within the next three months.

Integra Gold Corporation:

--Raymond James Ltd. has managed or co-managed a public offering of securities within the last 12 months with respect to ICG.

--Raymond James Ltd. has provided investment banking services within the last 12 months with respect to ICG.

--Raymond James Ltd. has received compensation for investment banking services within the last 12 months with respect to ICG.