Intrepid Metals drills 1.28% copper over 198.00 metres at initial program at Corral Project, Arizona

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Intrepid Metals Corp. [TSXV-INTR; OTCQB-IMTCF] provided results for 5 additional diamond drill holes from the company’s Corral Copper property in Cochise County, Arizona. All 5 holes were drilled in the Ringo Zone which is located along the southern margin of a 3-km-long trend of near surface carbonate replacement (CRD) and related supergene enrichment oxide copper-gold-silver-zinc mineralization.

Highlights: Drill hole CC24_016 returned 198.00 metres of 0.68% Copper Equivalent (CuEq) (0.56% Copper, 0.12 g/t Gold and 4.35 g/t Silver) from 10.00 to 208.00m. including, 72.20m of 1.26% CuEq (1.28% Cu, 0.08 g/t Au and 3.16 g/t Ag); 1.60m of 5.72% CuEq (5.30% Cu, 1.95 g/t Au and 11.20 g/t Ag).

CC24_14 returned 133.20m of 0.64% CuEq (0.42 Cu, 0.46 g/t Au, 2.22 g/t Ag) from 45.85 to 179.05m, including 79.00m of 0.68% CuEq (0.33% Cu, 0.65 g/t Au, 2.70 gpt Ag) and 2.35m of 13.52% CuEq (4.71% Cu, 15.84 g/t Au, 39.26 g/t Ag).

Hole CC24_013 returned 99.45m of 0.68% CuEq (0.54% Cu, 0.27 g/t Au and 3.11 g/t Ag) from 60.00 to 159.45m, including, 44.40m of 1.28% CuEq (1.08% Cu, 0.53 g/t Au and 3.57 gpt Ag) and 3.30m of 5.56% CuEq (5.08% Cu, 1.86 g/t Au and 19.75 g/t Ag).

“The Corral Copper Project has once again returned remarkable shallow copper grades and mineralized intercepts at the Ringo Zone,” stated Ken Brophy, CEO. “The drilling at Ringo is illustrating the Project’s gold endowment with broad intercepts of highly continuous, locally high-grade gold mineralization, including 21.3 g/t gold over 1.1m in hole CC24_15 and 15.84 g/t gold over 4.71 metres in hole CC24_14, which we expect will make a significant contribution to the economic potential of the project.”

The Ringo Zone is located at the southern end of a 3-km-long string of copper-gold-silver-zinc bearing carbonate replacement bodies. The Ringo Zone measures approximately 900m (northwest to southeast) by 800m (southwest to northeast) and contains favorable Abrigo Limestone (and Bolsa Formation), pre-mineral intrusions, alteration and copper-gold-silver-zinc replacement style mineralization and secondary enriched copper oxide zones that are locally high-grade. To date, Intrepid has completed 9 holes in the Ringo Zone for a total of 2105m. Hole CC24_16 was prematurely shut down due to drill rods breaking down hole and ended in robust mineralization.

Intrepid has completed 20 diamond drill holes (~3,900m) as part of a planned 5,000m program within its private lands at Corral Copper. Intrepid is drill testing a 3.5 by 1.5 km copper-gold-silver-zinc mineralized footprint to demonstrate its potential to host economic CRD, skarn, and related porphyry copper mineralization.

Precious and base metal mineralization at Corral Copper is concentrated in structurally controlled northeast dipping siliciclastic and carbonate sedimentary rocks including (oldest to youngest) Cambrian Bolsa Quartzite, upper-Cambrian Abrigo Limestone, Devonian Martín limestone and Mississippian Escabrosa limestone. The most intense mineralization occurs in the Abrigo Limestone (main host) and Bolsa Quartzite, which are intruded locally by a series of Jurassic (and possibly younger) mineralized intrusions including the Star Hill, Copper Bell and Sniveler porphyries, quartz latite sills, and cross-cutting mineralized breccia bodies.

The Corral Copper Property includes the Holliday, Earp and Ringo zones (northwest to southeast, which are related zones of discontinuously outcropping, locally high grade CRD and skarn related mineralization and associated supergene enrichment mineralization that are interpreted to have formed in the distal porphyry copper geological environment). Refer to original press release for complete assays.

The Corral Copper Property is a district scale advanced exploration and development opportunity in Cochise County, Arizona. Corral Copper is located 15 miles east of the famous mining town of Tombstone and 22 miles north of the historical Bisbee mining camp which has produced more than 8 billion pounds of copper3. Production from the Bisbee mining camp, or within the district as disclosed in the next paragraph, is not necessarily indicative of the mineral potential at Corral.

The Corral Copper property is comprised of the Excelsior property, the CCCI Properties, the Sara Claim Group and the MAN Property. The company has completed the acquisition of the Excelsior property and Sara Claim Group through purchase and sale agreements. The Company has the right to acquire the corporate group that holds the CCCI Properties through an option agreement. The company has the right to acquire the MAN property through an option agreement.

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